Corporate Finance
Code: 105768 ECTS Credits: 6| Degree | Type | Year | Semester |
|---|---|---|---|
| 2501231 Accounting and Finance | OB | 3 | 2 |
Contact
- Name:
- Santiago Guerrero Boned
- Email:
- Santiago.Guerrero@uab.cat
Use of Languages
- Principal working language:
- spanish (spa)
- Some groups entirely in English:
- No
- Some groups entirely in Catalan:
- Yes
- Some groups entirely in Spanish:
- Yes
Teachers
- Luis Fernando Romero Pérez
Prerequisites
The general requirements to be able to take the third year of the degree and have completed Finance I and Finance II.
Objectives and Contextualisation
This subject expands and complements the mandatory contents of Finance that must be studied in the degree. The subjects dealt with focus on the study of sources of financing (self-financing and debt), financial policy (debt policy and dividend policy), the characteristics of international finance, the valuation of financial assets (debt and shares) in the market, and firm valuation.
Competences
- Analysing and determining the accounting cost structure, as well as certifying settlements, balances, financial statements, account performance and other accounting documentation.
- Analysing, diagnosing, supporting and taking decisions in terms of organisational structure and business management.
- Communicating in oral and written form in Catalan, Spanish and English, in order to be able to summarise and present the carried out project in both forms.
- Efficiently searching information, discriminating irrelevant information.
- Planning and conducting the accounting organization of a company or group of companies.
- Searching for innovative and imaginative solutions.
- Students must be capable of applying their knowledge to their work or vocation in a professional way and they should have building arguments and problem resolution skills within their area of study.
- Students must be capable of collecting and interpreting relevant data (usually within their area of study) in order to make statements that reflect social, scientific or ethical relevant issues.
- Students must be capable of communicating information, ideas, problems and solutions to both specialised and non-specialised audiences.
- Students must develop the necessary learning skills to undertake further training with a high degree of autonomy.
- Students must have and understand knowledge of an area of study built on the basis of general secondary education, and while it relies on some advanced textbooks it also includes some aspects coming from the forefront of its field of study.
Learning Outcomes
- Carrying out the integral accounting process derived from all operations of a company and that conclude with the determination of profit or loss.
- Communicating in oral and written form in Catalan, Spanish and English, in order to be able to summarise and present the carried out project in both forms.
- Defining the characteristics of the various sources of funding.
- Distinguishing financial risks and knowing the instruments and techniques of diversification and coverage.
- Efficiently searching information, discriminating irrelevant information.
- Formulating debt and dividend policies.
- Interpreting the financial statements produced by companies, connecting the different parts and, if appropriate, detecting inconsistencies or possible incorrect data.
- Naming the regulatory agencies of the financial system and its functions.
- Prepare financial statements and reports for accounting, fiscal, financial and organizational purposes.
- Producing accounting reports about the quality and environmental costs for the company managers.
- Recognise the foundations and identify the areas and main agents related to social corporate responsibility (SCR) and the link with strategic and operational aspects of the organisation.
- Students must be capable of applying their knowledge to their work or vocation in a professional way and they should have building arguments and problem resolution skills within their area of study.
- Students must be capable of collecting and interpreting relevant data (usually within their area of study) in order to make statements that reflect social, scientific or ethical relevant issues.
- Students must be capable of communicating information, ideas, problems and solutions to both specialised and non-specialised audiences.
- Students must demonstrate they have an innovative and entrepreneur spirit.
- Students must develop the necessary learning skills to undertake further training with a high degree of autonomy.
- Students must have and understand knowledge of an area of study built on the basis of general secondary education, and while it relies on some advanced textbooks it also includes some aspects coming from the forefront of its field of study.
- Using the established criteria and valuation of the accounting standards. Relating the valuation criteria with the financial valuation systems.
- Utilising the financial information of yearbooks, memoirs and in the network.
Content
Methodology
The type of planned teaching of the subject will be face-to-face.
About half of the teaching activity is theoretical and the other half practical. The theoretical part is based on master classes with audiovisual resources and readings. The practical part is based on the resolution of exercises in the classroom and case-analysis. A part of the student's work is autonomous, writing essays and the realization of specific cases on the content of the subject.
The proposed teaching methodology may undergo some modifications according to the restrictions imposed by the health authorities on on-campus courses.
Activities
| Title | Hours | ECTS | Learning Outcomes |
|---|---|---|---|
| Type: Directed | |||
| Master classes | 23 | 0.92 | 8, 3, 4, 1, 6, 7, 17, 12, 18, 19 |
| Resolution of exercises in the classroom and analysis of cases | 23 | 0.92 | 5, 8, 3, 4, 1, 9, 10, 6, 7, 16, 14, 12, 13, 18, 19 |
| Type: Supervised | |||
| Tutorials | 10 | 0.4 | 5, 15, 2 |
| Type: Autonomous | |||
| Search of documents | 15 | 0.6 | 5, 8, 15, 13, 19 |
| Solving cases and exercises | 40 | 1.6 | 5, 8, 3, 15, 4, 1, 9, 10, 6, 7, 17, 16, 14, 12, 13, 11, 2, 18, 19 |
| Study | 35.5 | 1.42 | 15, 16, 13 |
Assessment
The final grade of the subject will consist of the weighted average of three scores:
1. Course follow-up. The correct follow-up of the course requires the attendance in class and the accomplishment and delivery of the practical cases, as much those realized autonomously as those carried out to the laboratory practices, besides the realization of the activities programmed during the course by each of the topics. Throughout the course, all these aspects will be controlled and that will result in a score that will represent 30% of the final mark of the course.
2. Mid-term exam (see the exam calendar of the Faculty). At the middle of the course there will be a test about the contents of the first part of the course. This score will represent 30% of the final mark. Obtaining a rating of 5 or more allows students to pass this part of the sylabus.
3. Final exam (see the exam calendar of the Faculty). Students will be assessed based on the contents of the second part of the course, which can be passed if they obtain a grade of 5 or higher. In this case the mark of the exam will represent 40% of the final mark of the course. On the same date that this exam there will be an additional test for students who have not passed the evaluative activity cited in 2. Obtaining a rating of 5 or more allows students to pass this part of the subject.
To pass the subject, it is necessary to obtain a minimum grade of 5 in the weighted average of the three notes that form the course evaluation (see points 1, 2 and 3 above).
If the weighted average mentioned in the previous point is lower than 3,5, the student will have to repeat the subject next year. Otherwise the student can accomplish the recovery process described below (Retake Process).
A student is considered "Not evaluable" to the subject as long as he has not participated in any of the assessment activities. Therefore, it is considered that if a student does any part of the activities of course evaluation cited above, can no longer opt for a "Not evaluable".
A student who does not perform any evaluative task is considered “not evaluable”, therefore, a student who performs a continuous assessment component can no longer be qualified with a "not evaluable".
Calendar of evaluation activities
The dates of the evaluation activities (midterm exams, exercises in the classroom, assignments, ...) will be announced well in advance during the semester.
The date of the final exam is scheduled in the assessment calendar of the Faculty.
"The dates of evaluation activities cannot be modified, unless there is an exceptional and duly justified reason why an evaluation activity cannot be carried out. In this case, the degree coordinator will contact both the teaching staff and the affected student, and a new date will be scheduled within the same academic period to make up for the missed evaluation activity." Section 1 of Article 115. Calendar of evaluation activities (Academic Regulations UAB). Students of the Faculty of Economics and Business, who in accordance with the previous paragraph need to change an evaluation activity date must process the request by filling out an Application for exams' reschedule https://eformularis.uab.cat/group/deganat_feie/application-for-exams-reschedule
Grade revision process
After all grading activities have ended, students will be informed of the date and way in which the course grades will be published. Students will be also be informed of the procedure, place, date and time of grade revision following University regulations.
Retake Process
"To be eligible to participate in the retake process, it is required for students to have been previously been evaluated for at least two thirds of the total evaluation activities of the subject." Section 3 of Article 112 ter. The recovery (UAB Academic Regulations). Additionally, it is required that the student to have achieved an average grade of the subject between 3.5 and 4.9.
The date of the retake exam will be posted in the calendar of evaluation activities of the Faculty. Students who take this exam and pass, will get a grade of 5 for the subject. If the student does not pass the retake, the grade will remain unchanged, and hence, student will fail the course.
Irregularities in evaluation activities
In spite of other disciplinary measures deemed appropriate, and in accordance with current academic regulations, "in the case that the student makes any irregularity that could lead to a significant variation in the grade of an evaluation activity, it will be graded with a 0, regardless of the disciplinary process that can be instructed. In case of various irregularities occur in the evaluation of the same subject, the final grade of this subject will be 0". Section 10 of Article 116. Results of the evaluation. (UAB Academic Regulations).
The proposed evaluation activities may undergo some changes according to the restrictions imposed by the health authorities on on-campus courses.
Assessment Activities
| Title | Weighting | Hours | ECTS | Learning Outcomes |
|---|---|---|---|---|
| Course follow-up | 30% | 0 | 0 | 5, 8, 3, 15, 4, 1, 9, 10, 6, 7, 17, 16, 14, 12, 13, 11, 2, 18, 19 |
| Evaluative activity | 30% | 1.5 | 0.06 | 8, 3, 4, 1, 9, 6, 7, 2, 18 |
| Final exam | 40% | 2 | 0.08 | 8, 3, 4, 1, 6, 7, 2, 18, 19 |
Bibliography
Brealey, R; Myers, S, Allen, F. (2015): Principios de Finanzas Corporativas. McGraw Hill. 11ª edición.
Brealey, R; Myers, S. Marcus, A; Mateos, (2010): Finanzas Corporativas. McGraw Hill. UNED.
Ross, S. Westerfield, R; Jordan, B. (2018): Fundamentos de Finanzas Corporativas. 11ª edición. McGraw Hill
Martínez Abascal, Eduardo (2014): Finanzas para directivos. 2a ed. McGraw Hill.