Strategic Financial Decision Making (B-KUL-Y00953)
Aims
This course evaluates the following learning outcomes:
The student
1.1 (CF) analyses corporate finance related operational problems, taking into account the ownership structure and risk profile of the organization.
1.1 (FM) analyses finance related operational problems, taking into account the ownership structure and risk profile of the organisation.
1.4 (FM) critically reflects on how FM contributes to the financial/operational goals of companies, intermediaries and private investors.
2.1 (CF + FM) analyses strategic financial challenges taking into account the firm specific corporate financial characteristics, the stakeholders involved (managers, shareholders, employees, financial markets and institutions, governments,…) and the institutional context the organization is operating in.
2.3 (CF) formulates solutions and advice regarding strategic financial decision making under uncertainty using insights from corporate finance theories and applying corporate finance methodology taking into account firm characteristics, the stakeholders involved and the institutional context the organization is operating in.
2.4 (FM) uses specific knowledge of the institutional financial context to propose and argue solutions to strategic financial challenges taking into account the specific corporate context, the stakeholders involved and the and the institutional context the organisation is operating in.
3.1 (CF + FM) plans, organizes, evaluates and optimizes business processes and strategic decision making by owners and managers w.r.t. (company/project) valuation, (entrepreneurial) financing, (strategic) financial management and corporate governance, taking into account the conditional interdependencies among all aspects of corporate financial decision making under uncertainty.
4.1 (CF + FM) outlines and interprets current trends in theory and practice of corporate financial management
4.2 (CF + FM) reflects critically on the way societal, international and organizational trends in corporate finance influence strategic financial management, taking into account agency problems and conflicts of interest between ownership, control and other stakeholders involved.
4.3 (CF + FM) selects relevant aspects from corporate financial information and analyses the importance as well as consequences of strategic financial communication with owners, investors, financial intermediates,….
7.2 discusses the social, ethic and sustainability aspects of management, analyses a policy on the basis of these aspects and formulates suggestions for improvement.
10.3 reflects critically on the influence of recent evolutions and innovations in corporate finance on strategic financial decision making under uncertainty.
11.1 is aware of the rapidly evolving knowledge society that he/she will enter and therefore understands the need for maintenance and improvement of acquired knowledge, skills and competences and acquisition of new knowledge, skills and competences.
Previous knowledge
Students should be familiar with the basic concepts of financial algebra, financial theory and financial instruments as well as corporate finance at introductory level.
Is included in these courses of study
- Master of Business Administration (Antwerp) 60 ects.
- Master of Business Administration (Antwerp) (Track: Corporate Finance) 60 ects.
- Master in de handelswetenschappen (Antwerpen) 60 ects.
- Master in de handelswetenschappen (Antwerpen) (Specialisatie: Financieel management) 60 ects.
- Courses for Exchange Students Faculty of Economics and Business (Antwerp)
Activities
6 ects. Strategic Financial Decision Making (B-KUL-Y50736)
Content
The course “Strategic Financial Decision Making” focuses on advanced corporate finance concepts and offers an extension of the Corporate Finance course taught in the Bachelor program. The Master course studies advanced valuation techniques used within corporations and applies these techniques to practical strategic financial decisions such as M&As or SME financing. It also extends on the financing decisions made by managers of an entrepreneurial company, such as crowdfunding or business angel financing . The course closes on the topic of agency problems and its related solutions such as market discipline by financial analysts, corporate governance and CEO compensation.
Strategic financial decision making consists of two parts; corporate financial decisions and strategic financial management.
The following topics will be covered:
Strategic Financial Management
- Valuation of projects and companies: Theory and applications
- M&A, divestment and corporate restructuring
Corporate financial decision making
- Entrepreneurial Finance (Private Equity, Venture Capital, distress,…)
- Agency problems, governance, financial analysts & CEO compensation
Course material
Compulsory course material
- Handouts from our sessions (Toledo)
- A broad selection of research papers on Corporate Finance (Toledo)
-Possibly cases are used during the lectures. In this case the students pay a fee of up to € 30 for the copyright.
Recommended course material
Berk, J & DeMarzo, P. (2013). Corporate Finance, Third Edition. Pearson Education.
Format: more information
Students are expected to perform the following learning activities:
- Students read the relevant parts of the textbook and related academic papers as a preparation for the lectures.
- Students participate actively during the lectures.
- Students independently solve exercises and cases about the material discussed. Model answers for these exercises and cases are made available via Toledo.
Evaluation
Evaluation: Strategic Financial Decision Making (B-KUL-Y70953)
Explanation
Features of the evaluation and determination of final grades
The course consists of 2 modules, with following assessments:
Corporate Financial Decision Making (50% of the total score): Written, closed book exam: 100% of the score
Strategic Financial Management (50% of the total score): Written, closed book exam: 100% of the score
The written exams for both modules take place simultaneously.
The result is calculated and expressed as an integer out of 20.
2nd examination opportunity
The features of the evaluation and determination of grades are similar to those of the first examination opportunity, as described above.
Exam contract
Same modalities as for regular students