20265 - INTERNATIONAL CORPORATE FINANCE
Course taught in English
Go to class group/s: 31
CARLO MARIA PINARDI
Class 31: CARLO MARIA PINARDI
The course is designed, assuming previous exposure to finance and basic valuation skills. Students that need a refresher text could refer to the materials, we post on Bboard, that may help refresh their basic knowledge of finance.
This course is designed to provide an introduction to international corporate finance. In particular, we cover the foreign exchange market, managing risk in international finance, and investment and financing decisions in an international environment. The emphasis is on economic and financial principles as well as institutional features. These financial principles and institutional features are both relevant and useful for individuals who operate in our increasingly competitive and global economy. Given the nature of the topics covered and accompanying course assignments, this course has significant analytical, quantitative, and writing components throughout.
The program is based on 24 class sessions, some of which may be lectures by external industry visitor speakers. The course examines the following topics:
- Foundations of the international financial management – objectives, role, players.
- The foreign exchange market, exchange rates determination and using derivatives to manage FX risk.
- Management of transaction, economic and translation exposure.
- Raising finance in the international bond and equity markets.
- Investment and financing decisions in an international environment.
- Estimate exchange rates.
- Distinguish and manage risk in international finance.
- Recognize the investment and financial issues faced by managers in a global setting.
- Use the tools required to manage international finance risk and make informed investment and financial decisions in a global setting.
- Face-to-face lectures
- Guest speaker's talks (in class or in distance)
- Exercises (exercises, database, software etc.)
- Case studies /Incidents (traditional, online)
- Individual assignments
- Group assignments
- Several exercise sessions are organized to ensure that students are able to apply the concepts disussed.
- Lectures by external industry visitor speakers and case studies are used to link theory with practice.
- Students are asked to submit individual assignments as a way to assertain their participation in the course.
|Continuous assessment||Partial exams||General exam|
The course exam is written and based on 22 multiple choice questions worth 1 point each and 3 open questions worth 3 points each. Attending students may opt for taking two partial exams (instead of the cumulative course exam) – the first administered by mid-semester and the second at the end of the course (both with the above outlined structure). A passing grade is required in both exams. If a student fails, scores a low grade or misses the first optional partial exam (but have completed all work required for attending students) they can choose to take a cumulative attending students’ final exam, administered exclusively on the same day as the second partial exam. All subsequent exam sessions are based exclusively on textbook chapters indicated in the syllabus (i.e. there are no differentiation between attending and non-attending students). Attending students are also required to take at least three of the in-class practice quizzes and submit case reports on at least three of the cases discussed in class. Case studies can be completed individually or in a group of not more than 3 students. Attending students’ exams are based only on the topics covered in class. Topics and depth of coverage may differ from those in the textbook and studies work. Extra points are valid for students taking the attending students’ exams only.
The exams is based on all chapters listed in the syllabus and does not include any additional content discussed in-class.
- C. EUN, B. RESNICK, International Financial Management, McGraw-Hill, 2018, Eight Edition (chapters 1-17 (excluding chapter 14) and chapters 20-21).
- Real-world, up-to-date case studies to be discussed in class often with top executives of the companies involved.
- Some topics require additional materials such as Excel templates, journal articles and financial reports, which are distributed through the course web platform.
- PowerPoint Slides and supplementary teaching materials are posted on the course web platform.
- C. EUN, B. RESNICK, International Financial Management, McGraw-Hill, 2018, Eight Edition, (chapters 1-17 (excluding chapter 14) and chapters 20-21).