Finance – ExecuTive Master in Finance Programme

Core Courses
 

Finance I – Financial Markets and Corporate Finance

The objective of this course is to provide an introduction to capital markets and corporate finance at the foundational level. Topics covered include the time value of money, evaluation of bonds and interest rates, and a definition of the cost of capital. The course will also focus on basic valuation of stocks using Modern Portfolio Theory and Asset Pricing Models. Market anomalies, statistical models and market efficiency will be discussed. Furthermore, the course will define the concept of Capital Budgeting and use it to evaluate investment decisions. A framework for company valuation will be provided and applied to choosing value-enhancing corporate policies such as optimal capital structure, dividend policy and share repurchase.

Finance II – Capital Markets and Corporate Finance

This course covers the main corporate finance activities and provides participants with the basic understanding of derivatives and corporate liabilities as derivatives. It will focus on specific corporate events that track the life of a company from the beginning to the end. The following topics will be covered: Initial Public Offerings, Seasoned Equity Offerings, Merger & Acquisition (both Valuation and Takeover defences), Leveraged Buyouts, Distressed Restructurings, as well as an examination of the role of Executive Compensation. The course also covers Forwards and Futures, Swaps, Options, Equity and Debt as Derivatives and Hybrids.

 

Concentrations

Corporate Finance

The Corporate Finance Concentration track goes in depth in the analysis of the main concepts of corporate management. The goal is to have a broad CEO/CFO view. Corporate financing, growth strategies and M&As, and choice of domestic vs. international expansion will be examined in detail. The module will provide participants with an integrated framework to select corporate financing policies and their links to expansion strategies such as M&As, a framework to analyse international projects at the selection stage as well as the implementation and currency and country-risk management stage, advanced tools required to manage complex single-purpose projects, and a set of tools to choose financing at the start-up stage of the firm, as well as the terminal restructuring and distress stage.

Financial Markets

The Financial Markets concentration track focuses on the main tools of asset management. It is articulated in three courses that examine the three major asset classes: Equity, Credit Markets and Options and Derivatives. The fourth course, Asset & Liability Management in Banking, will provide an integrated view of how these tools can be used in the context of risk management for banks. The course will focus on ALM models: how to design them and how to implement them.

 

Electives

• Advanced Corporate Finance
• Asset & Liability Management in Banking
• Behavioural Finance
• Credit Markets
• Equity Investment
• International Corporate Finance
• Options and Derivatives
• Private Equity
• Project Finance

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Capstones

• ALCO Simulation