The main aim of this course is to provide students with a general frame of
mind to make decisions about investment, finance and dividend, while being
secure, as well as insecure. Next, based on the thus acquired financial-theoretical insights, important problems of company finance will be dealt with, via the integration of the relationship risk-output, the financial balance and the real economic surroundings. At the same time, a lot of attention will be paid to the practical relevance, so that, as a result, the students should be able to apply the acquired insights and be properly prepared to place practical problems of company finance in their right frame of mind. This course also provides a base for the different subbranches of finance that will be further illustrated in the program in specialized modules.
Students have (*) the following courses (or equivalents):
* finished successfully: /
* finished: D0E16A Inleiding tot de accountancy OR D0T07A Inleiding tot de
Students are at least following the following courses (or equivalents) at the same time: D0E21A Statisitiek voor economisten OR D0T17A Bedrijfsstatistiek
See description under Teaching Activities
Examples and samples
Toledo / e-platform
Is also included in other courses
- Bachelor of Economics (Abridged Programme) 120 ects.
- Bachelor of Business Economics (Abridged Programme) 120 ects.
- Bridging Programme: Master of Accounting and Auditing 60 ects.
- Preparatory Programme: Master of Economics, Law and Business Administration for Bachelor EW, TEW, HIR, HIRb, Master in Management Economics, Master in Management and Master in Business and HIR (college) 60 ects.
- Bachelor of Economics 180 ects.
- Bachelor of Business Economics 180 ects.
- Master of Bioscience Engineering: Biosystems Engineering 120 ects.
- Master of Economics, Law and Business Studies 120 ects.
- Master of Accounting and Auditing 60 ects.
- Master of Bioscience Engineering: Food Science and Technology 120 ects.
- Master of Bioscience Engineering: Catalytic Science and Technology 120 ects.
- Master of Bioscience Engineering: Agricultural Sciences 120 ects.
- Master of Bioscience Engineering: Land and Forest Management 120 ects.
- Master of Bioscience Engineering: Biomolecular Engineering 120 ects.
- Master of Bioscience Engineering: Environmental Technology 120 ects.
- Bachelor in Business Economics (new students 2012-2013 and students 2011-2012) 180 ects.
Part 1 deals with investment analysis, starting from the theoretical foundations, as well as from practical applications. The thus constructed frame of mind will be developped in more detail to deal with the problem of the evaluation of companies and that of the dividend politics. In a logical next step part 2 will deal with the issue of the 'portefeuille theory', CAPM, efficient capital markets and the relationship with companies. Finally, we will round up with the theory of Modigliani and Miller regarding the impact of financial politics on the value of a company. Throughout this course theoretical insights will be constantly applied to exercises and illustrations will be provided via websites of companies, newspaper articles and year reports. Multiple case studies will also be dealt with. Throughout this module the most important insights of the financial theory will be discussed and their practical application will be explained without getting too mathematical/technical.
After finishing this course, students are able:
- to judge investment projects through learnt financial techniques in a corporate context.
- to judge investment projects adjusted to the non-profit context.
- to apply all important corporate valuing techniques in exercises and mini-cases and to clearly show connections; to value a real SME.
- to give well-grounded advise concerning optimal investment strategies.
- to clearly explain the connection between returns and risks in a capital market.
- to have well-grounded discussions concerning the optimal dividend politics and capital structure of an enterprise.
- to calculate the impact of a change in the capital structure on the enterprise
value, the capital cost and the cost of the own property.
- to estimate the impact of an investment project on the cash needs of a company on the life cycle of a project, meaning to realize a financial planning.
- to soundly report financial news on companies and to comment on the stock market.
Used study material:
* C. Van Hulle, Bedrijfsfinanciering, ACCO Uitgeverij
* extra material is made available through Toledo (o.a. interactive database of exercises)
H.Decan, S. De Klerck, E. Dieltjens, T. Frank, L. Gheysens, N. Huyghebaert, J. Janssen, L. Keuleneer, G. Van Campenhout, C. Van Hull, S. Van Uytbergen, Financieel management, een casestudieboek, Pearson, 2006
Multiple choice + open questions.