Advanced International Corporate Finance

Content Overview

Through a blend of cutting-edge theory and hands-on experience with the concepts studied, this programme provides financial managers with the tools they need to drive return and minimise risk in international, corporate environments. The following topics are covered in depth.

Company valuation, cost of capital and optimal capital structure

A refresher on the fundamentals of company valuation, including: estimating free cash flows and the cost of capital; calculating discounted cash flows using the Weighted Average Cost of Capital (WACC) method; and an overview of optimal capital structure theory.

Advanced international project valuation and public-private partnerships

An overview of international valuation methods for highly leveraged transactions, such as leveraged buyouts or project finance, where debt changes over time and the assumptions of the WACC do not hold.

Valuation and the international dimension of risk

A comprehensive session on currency and country risks – and the use of industrial and financial strategies to avoid exposure in a way that minimises the cost and creates value – by managing risk using the business plan and industrial policy of the company.

Value creation in raising capital

An exploration of the main issues involved in raising equity capital and being publicly traded, including: the roles played by the different players; the impact on voting and control over the company; and the costs of raising equity from the public markets and incentives for different parties in equity financing.

Dealing with undervaluation

An intensive session on the options for companies that find themselves undervalued, including: when and how to signal undervaluation to the markets; when to increase dividend payments; and when to take advantage of the undervaluation to buy back shares and methods for doing so.