International Financial Management (in English)

Teacher(s)

Knaepen Denis ;

Language

Anglais

Main themes

The objective is to provide students with a clear understanding of what today s management of a firm in a globalized trade and capital markets environment is about i.e.: -identify treasury and finance matters/risks associated with doing business in an international environment -understand the extent to which the business can be affected treasury and finance matters/risks -present and discuss financial and banking products/techniques in order to manage international risks and optimize treasury and finance decisions -understand the objectives and approach of Chief Financial Officers, Group Treasurers, Heads of M&A/Strategy, Investors relations, Corporate Bankers, Investment Bankers, Traders and Risk managers when dealing with the reality of doing business on a globalized world

Aims

Having regard to the LO of the programme X, this activity contributes to the development and acquisition of the following LO:

• 1. Corporate citizenship 1.1. 'Demonstrate independent reasoning, look critically ' 1.2.Decide and act by incorporating ethical and humanistic values ,' 1.3. Decide and act responsibly ' 2. Knowledge and reasoning 2.1. Master the core knowledge of each area of management. 2.2. Master highly specific knowledge ' 2.3. Articulate the acquired knowledge from different areas 2.4. Activate and apply the acquired knowledge ' 2.5. Contribute to the development and advancement of the man- agement field. 3. A scientific and systematif approach 3.1. Conduct a clear, structured, analytical reasoning ' 3.2. Collect, select and analyze relevant information ' 3.3.Consider problems using a systemic and holistic approach ' 3.5.Produce, through analysis and diagnosis, implementable solutions' 5. Work effectively in an international and multicultural environment 5.1.Understand the inner workings of an organization ' 5.2.Position ... the functioning of an organization, in its ...socio-economic dimensions' 5.3.Understand and establish their own role and scope for action ' 6. Teamwork and leadership 6.1. Work in a team...  8. Communication and interpersonal skills 8.1. Express a clear and structured message' 9. Personal and professional development 9.1. Independent self-starter '

The contribution of this Teaching Unit to the development and command of the skills and learning outcomes of the programme(s) can be accessed at the end of this sheet, in the section entitled “Programmes/courses offering this Teaching Unit”.

Evaluation methods

The final grade will be based on either a written or oral exam depending on the number students.

Teaching methods

The method of this course is to combine theory and real business life experience. 1) presentation of theoretical background with reference to existing literature 2) presentation of real-life examples and case studies leading to class discussions and/or students presentations

Content

For many years, most companies have been dealing with the challenge of having to grow their business on an international basis through export sales (international trade) or direct foreign investments (subsidiaries, JVs, etc). In the last decade, this strategy has become even more important as the world economy has become a true global market place for consumer and industrial goods as well as financial products and services. For small, medium and large public or private corporations having to maintain sufficient competitiveness, the key question is therefore how to implement a proper financial strategy in order to deal with the various risks and matters associated with doing business internationally or domestically in a globalized interconnected economy. But not only that: the collapse of the internet bubble, the financial scandals, the subprime crisis, the sovereign debt crisis, the market volatility potential, etc have demonstrated the extent to which the global real economy and the various financial markets are completely inter-connected together thereby affecting the financial management of every business, independently from its size and/or geographical location (and/or willingness to get exposed to international markets).

Bibliography

: TEXTBOOK compulsory SLIDES compulsory . BOOK : International Financial Management, 4th Ed., Authors/ Eun / Resnick, McGraw Hill not compulsory and available on line Supports available on line are on ICAMPUS.

Other information

Lecture scheme Introduction to International Financial Management The time value of Money Country risks International Trade Finance: short term and long term type transactions (financing, structuring) International Cash Management: payments, cash pooling Foreign Exchange Exposure Management Interest Rate Exposure Management International Financial Markets - Equity Capital Markets - Debt Capital Markets Foreign Direct Investment and Cross-Border Mergers & Acquisitions International Capital Structure International Tax considerations

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