Financial Management of Corporate Innovations
| Code | Completion | Credits | Range | Language |
|---|---|---|---|---|
| 32ME-P-FMCI-01 | Z,ZK | 3 | 2P+1C | English |
- Garant předmětu:
- Jonathan Edmund Holmes
- Lecturer:
- Jonathan Edmund Holmes
- Tutor:
- Jonathan Edmund Holmes
- Supervisor:
- Institute of Management Studies
- Synopsis:
-
The course focuses on modern innovative methods in financial decision-making from financial analysis through investment decisions, payment instruments, dividend policy, financial planning, financial distress management, corporate valuation to mergers and acquisitions and holding management. Knowledge from this course should then, in connection with the knowledge from the bachelor's study, complete the competencies for the financial management of the company. Substantial emphasis is also placed on understanding this issue from a theoretical point of view.
- Requirements:
- Syllabus of lectures:
-
Content of Lectures:
1. Introduction, objectives, rational and irrational behavior. Financial strategy. Financial innovation and its types.
2. Financial analysis. Classical and innovative methods of performance evaluation. Profitability versus economic
added value.
3. Investment decisions. Classic and innovative investment criteria. Risk adjustment.
4. Derivatives and hybrid securities.
5. Optimization of capital structure. Capital costs and their measurement. Theoretical approaches.
6. Capital asset pricing model. Arbitrage pricing theory.
7. Payment instruments: classic (bank orders, bills of exchange, documentary payments) and innovative (electronic
systems).
8. Distribution of income. Dividend and its types. Dividend policy. Dividend policy factors.
9. Drawing up a financial plan. Short-term and long-term financial plan. Payment calendars.
10. Financial distress management. Insolvency and bankruptcy. Accounts receivables collection process.
11. Business valuation. Categories of value: investment, market, equitable, liquidating and accounting. Methods of
valuation: income, direct (market capitalization), market (comparative), cost (property).
12. Companies connection. Forms of connections. Mergers, consolidation and acquisitions. Synergistic effects.
Methods of defense against control by an enemy company.
13. Legal regulation of the holding corporation. Financial management of holding. Types of holdings. Financial
planning in the holding. Transfer prices. Cash Pooling.
- Syllabus of tutorials:
-
Content of Exercises:
1. Introductory seminar, organization. Financial analysis. Classic and innovation methods.
2. Investment decisions. Classic and innovative investment criteria. Derivatives and hybrid securities.
3. Optimization of capital structure. Capital asset pricing model. Arbitrage pricing theory.
4. Distribution of income. Dividend and its types. Dividend policy. Dividend policy factors.
5. Drawing up a financial plan. Short-term and long-term financial plan. Payment calendars.
6. Business valuation. Categories of value: investment, market, equitable, liquidating and accounting. Methods of
valuation: income, direct (market capitalization), market (comparative), cost (property).
- Study Objective:
-
The study objective of the course is to teach students to understand the basic theoretical approaches in corporate finance and, in addition to classical ones, to apply modern methods of financial analysis, investment decision-making, dividend policy, financial planning and business valuation.
- Study materials:
-
Basic literature:
BREALEY, R.A., MYERS, S.A., ALLEN, F. (2019). Principles of corporate finance. New York: McGraw Hill, 2019. ISBN 978-1260565553.
IVSC (2020): International Valuation Standards. London: IVSC. ISBN 978-0-9931513-3-3-0.
Recommended literature:
VERNARDAKIS, N. (2016). Innovation and Technology: Business and economics approaches. 1st Edition, Routledge. ISBN 978-041567680.
LEVY, H., SARNAT, M. (1978). Capital Investment and Financial Decisions. Hoboken: Prentice Hall. ISBN 978- 0131134232.
- Note:
- Time-table for winter semester 2023/2024:
- Time-table is not available yet
- Time-table for summer semester 2023/2024:
-
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 Wed Thu Fri - The course is a part of the following study plans: