FINC 5880: Advanced Corporate Finance

Course Description

This advanced study of corporate financial analysis and planning includes capital budgeting, cost of funds, and capital structure and valuation. Selected topics that may be covered are leasing, mergers, takeovers, business failure, reorganization, and liquidation. A combination of problem-solving and case study methodologies is used to illustrate theories and techniques helpful in financial analysis and planning.

Prerequisites

FINC 5000 or equivalent. It is assumed the student has adequate writing, mathematical, and analytical skills. Also, as for all internet courses, the student must be disciplined and self-motivated.

Course Level Learning Outcomes

Outcome	Expectation
1. Students can determine the value of fixed income securities	Students can calculate the implied value of convertible securities as well as the value of bonds-with-warrants.
2. Students can analyze capital budgeting decisions using standard methodologies	Students can make capital budgeting decisions using cash flow estimates and incorporating other sources of cash, such as taxes and depreciation. Students can explain the impact of profit margin and overall firm profitability on capital budgeting decisions, particularly when outside financing may be required to be able to complete projects.
3. Students can explain the impact of capital structure decisions on financial performance and cost of capital	Students can determine the impact of changes in cost of equity, cost of debt, the risk-free rate of interest, the tax rate, and the levels of debt and equity on the firm's balance sheet on the overall cost of capital and the effect on both project and firm profitability.
4. Students can utilize financial analysis to assess an organization's financial condition	Students can apply ratio and financial statement analysis skills to solve unstructured problems.
5. Students can construct strategies to reduce risk utilizing derivatives	Students can compute payoffs to put and call contracts and value corporate projects using the real option approach.
6. Students demonstrate integration of more than one area of finance when using case studies.	Students can solve cases requiring integration across various finance areas.
7. Students will demonstrate knowledge of lease analysis.	Students can compare the value of leasing to that of purchasing.

Course Materials

Please go to MBS Direct to find the appropriate textbooks for this course.

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Course Activities

The course will be concluded entirely online. Students are expected to participate in all course activities as assigned by the instructor. Course activities may include discussions, weekly assignments, quizes, case studies, and learner assessments. However, individual instructors may incorporate other activities into the course materials.

Grading

The GRADUATE catalog provides these guidelines adn grading options:

A/A–	Superior graduate work
B+/B/B–	Satisfactory graduate work
C	Work that is barely adequate as graduate-level performance
CR	Work that is performed as satisfactory graduate work (B– or better). A grade of “CR” is reserved for courses designated by a department, involving internships, a thesis, practicums, or specified courses.
NC	Unsatisfactory graduate work *(School of Education only)*
F*	Work that is unsatisfactory *The School of Education (MAT, MA and EdS) does not utilize the “F” Grade.
I	Incomplete work
ZF	An incomplete which was not completed within one year of the end of the course. ZF is treated the same as an F or NC for all cases involving GPA, academic warning, probation, and dismissal.
IP	In progress
W	Withdrawn from the course

A student in the School of Education may choose to receive Credit/No Credit, rather than a letter grade, by completing a grade choice form by the second week of classes. Education students must complete 33 credit hours with a B average or the equivalent.

Grades are available on the Internet to all students at the end of each scheduled term. (A hard copy is available upon request and may be requested online via the Academic Services Channel within Connections.)

Policy Statements

University policies are provided in the current course catalog and course schedules. They are also available on the university website. This class is governed by the university’s published policies. The following policies are of particular interest:

Academic Honesty

The university is committed to high standards of academic honesty. Students will be held responsible for violations of these standards. Please refer to the university’s academic honesty policies for a definition of academic dishonesty and potential disciplinary actions associated with it.

Drops and Withdrawals

Please be aware that, should you choose to drop or withdraw from this course, the date on which you notify the university of your decision will determine the amount of tuition refund you receive. Please refer to the university policies on drops and withdrawals (published elsewhere) to find out what the deadlines are for dropping a course with a full refund and for withdrawing from a course with a partial refund.

Special Services

If you have registered as a student with a documented disability at the Academic Resource Center (ARC) and are entitled to classroom or testing accommodations, please verify with your instructor at the beginning of the class that the instructor has received your accommodations letter from the ARC. If you have a disability and need academic accommodations but have not been documented with the ARC, please contact Barbara Stewart at (314)-968-7495 or stewart@webster.edu . Contacting the ARC to complete ADA documentation is the only way to ensure you may receive reasonable accommodations.

Disturbances

Since every student is entitled to full participation in class without interruption, disruption of class by inconsiderate behavior is not acceptable. Students are expected to treat the instructor and other students with dignity and respect, especially in cases where a diversity of opinion arises. Students who engage in disruptive behavior are subject to disciplinary action, including removal from the course.

Student Assignments Retained

From time to time, student assignments or projects will be retained by The Department for the purpose of academic assessment. In every case, should the assignment or project be shared outside the academic Department, the student's name and all identifying information about that student will be redacted from the assignment or project.

Contact Hours for this Course

It is essential that all classes meet for the full instructional time as scheduled. A class cannot be shortened in length. If a class session is cancelled for any reason, it must be rescheduled.

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