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CZECH TECHNICAL UNIVERSITY IN PRAGUE
STUDY PLANS
2019/2020

Corporate finance

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Code Completion Credits Range Language
AE0B16FIP Z,ZK 4 2P+2S
The course cannot be taken simultaneously with:
Basics of Financial Management (B1B16ZFM)
Basics of Financial Management (B1B16ZFM1)
Lecturer:
Martin Beneš (guarantor)
Tutor:
Martin Beneš (guarantor)
Supervisor:
Department of Economics, Management and Humanities
Synopsis:

Principles of finance, present value and alternative cost of capital, financial calculus, long-term finance, valuation of bonds and stocks, investment decision and net present value, IRR, comparison time period, annual equivalent value, inflation and return, capital asset pricing model, portfolio, sensitivity analysis and risk, WACC.

Requirements:

No prerequisites.

Syllabus of lectures:

1.Introduction of finance, present value, opportunity cost.

2.Anuitty, perpetuitty, compounded and simple interests.

3.Long term finance. Stock and bonds price.

4.Investment efficiency evaluation techniques. IRR, NPV.

5.Complex financian evaluation.

6.The comparison period, an equivalent annual value.

7.Decision making with NPV.

8.Inflation and tax influence to investment decision.

9.Project is not a black box.

10.Capital assets pricing model. Introduction to the theory of portfolio.

11.Sensitivity and risk analysis. Financial risk.

12.Discount rate, debt, taxes, WACC.

13.Other financial problems.Reserve.

Syllabus of tutorials:

1.Introduction of spreadsheets use focused on financial management.

2.Financial calculus.

3.Loans. Kinds of interests calculation.

4.Depreciation. Tax shield. Group project assignment.

5.NPV and IRR calculations. Mutually exclusive investments.

6.Taxes, finance and NPV.

7.Comparison period. Complex projects.

8.Complex case of multiple variant evaluation.

9.Bonds and stock price. Model with contant growth.

10.Expected return and standart deviation of portfolio.

11.Risk free return. Market portfolio. Securities market line.

12.Discount rate - debt, taxes, WACC

13.Assestment. Reserve.

Study Objective:
Study materials:

1.Brealey, R.A., Myers, S.C. Allen F. Principles of Corporate Finance. McGraw-Hill. 2007

2.Sharpe, W.F., Alexander G.J. Investments. USA: Prentice-Hall, Inc. 1990

Note:
Time-table for winter semester 2019/2020:
06:00–08:0008:00–10:0010:00–12:0012:00–14:0014:00–16:0016:00–18:0018:00–20:0020:00–22:0022:00–24:00
Mon
Tue
roomT2:A4-202a
Beneš M.
09:15–10:45
(lecture parallel1)
Dejvice
Ucebna
roomT2:C2-84
Beneš M.
11:00–12:30
(lecture parallel1
parallel nr.1)

Dejvice
Ucebna
Fri
Thu
Fri
Time-table for summer semester 2019/2020:
Time-table is not available yet
The course is a part of the following study plans:
Data valid to 2019-09-21
For updated information see http://bilakniha.cvut.cz/en/predmet2042806.html