Logo UAB

Corporate Finance

Code: 105768 ECTS Credits: 6
2025/2026
Degree Type Year
Accounting and Finances OB 3

Contact

Name:
Santiago Guerrero Boned
Email:
santiago.guerrero@uab.cat

Teachers

Luis Fernando Romero Perez

Teaching groups languages

You can view this information at the end of this document.


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.


Learning Outcomes

  1. CM22 (Competence) Quantify the effects of a change in interest types or in other risk factors in financial operations.
  2. KM17 (Knowledge) Determine the different agents that intervene in the legal-tax relationship, their reciprocal formal and material obligations, and their rights.
  3. SM13 (Skill) Formulate debt and dividend policies in the financial and capital structure of the company and in ownership.
  4. SM14 (Skill) Identify financial risks, diversification and hedging tools and techniques.
  5. SM17 (Skill) Assess the principles of asset valuation, both basic and derivative.

Content

1. The management and financing of current assets.
a. Investment in current assets: the working capital.
b. Inventories, turnover, average period of maturity (days inventories ratio).
c. Sources of short-term financing.
 
2. The sources of financing of the company.
a. Debt financing.
i. Bond issues and other forms of debt.
b. Shares financing.
i. Different kinds of capital issues.
c. Self financing.
 
3. Financial markets and valuation of financial assets.
a. Efficiency of financial markets. Lessons. Consequences.
b. Valuation of financial assets. The general valuation process.
ii. Valuation of debt securities.
iii. Valuation of shares. Main methods
 
4. International finance.
a. The foreign currencies market (Forex market).
b. Exchange risk and coverage.
 
5. Financial policy of the company.
a. Debt policy. Leverage.
i. The effects of debt on risk and profitability of shareholders.
b. Dividend policy.
c. Effects of the financial policy on the value of the company.
 
6. Valuation of companies. Main methods

Activities and Methodology

Title Hours ECTS Learning Outcomes
Type: Directed      
Master classes 25 1 CM22, KM17, SM13, SM14, SM17, CM22
Resolution of exercises in the classroom and analysis of cases 24.5 0.98 CM22, SM13, SM17, CM22
Type: Supervised      
Tutorials 10 0.4 SM14, SM14
Type: Autonomous      
Search of documents 10 0.4 CM22, KM17, SM13, SM14, CM22
Solving cases and exercises 36.5 1.46 CM22, SM13, SM17, CM22
Study 40.5 1.62 CM22, KM17, SM13, SM14, SM17, CM22

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.

 

 

Annotation: Within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.


Assessment

Continous Assessment Activities

Title Weighting Hours ECTS Learning Outcomes
Course follow-up 30% 0 0 CM22, KM17, SM13, SM14, SM17
Evaluative activity 30% 1.5 0.06 CM22, KM17, SM13, SM14, SM17
Final exam 40% 2 0.08 CM22, KM17, SM13, SM14, SM17

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/nou-reprogramacio-de-proves

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 4.8.

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).

Use of AI

For this subject, the use of Artificial Intelligence (AI) technologies is allowed exclusively in bibliographic or information search, text correction or translation tasks. The student will have to clearly identify which parts have been generated with this technology, specify the tools used and include a critical reflection onhow they have influenced the process and the final result of the activity. Lack of transparency in the use of AI in this assessable activity will be considered a lack of academic honesty and may result in a partial or total penalty in the grade of the activity, or greater penalties in cases of seriousness.

 

This subject/module does not provide for the single assessment system.


Bibliography

Brealey, R; Myers, S, Allen, F. (2020): Principios de Finanzas Corporativas. McGraw Hill. 13ª edición. (Existe versión digital 

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.

Malkiel, Burton (2020): Un paseo Aleatorio por Wall Street. Alianza Ed. 12 ed.


Software

Microsort Excel


Groups and Languages

Please note that this information is provisional until 30 November 2025. You can check it through this link. To consult the language you will need to enter the CODE of the subject.

Name Group Language Semester Turn
(PAUL) Classroom practices 101 Catalan/Spanish second semester morning-mixed
(PAUL) Classroom practices 501 Catalan/Spanish second semester afternoon
(TE) Theory 10 Catalan/Spanish second semester morning-mixed
(TE) Theory 50 Catalan/Spanish second semester afternoon