Studying at York
Corporate Finance - MAN00002I
Related modules
Pre-requisite modules
Co-requisite modules
- None
Prohibited combinations
- None
Module will run
| Occurrence | Teaching period |
|---|---|
| A | Autumn Term 2022-23 |
Module aims
Corporate Finance is at the core of any comprehensive business education as it covers a range of important topics that are considered critical to managerial decision making. It is truly the big picture module, which draws on accounting, statistics, economics, and several management disciplines to develop the first principle that should govern decision making within any size or form of business entity. Particular attention will be given to Investment, Financing and Profit Distribution decisions. However, considering the recent financial fiascos the teaching will come with required warnings; flagging the tension between “theory” and “practice”, ethical and societal issues, potential pitfalls, governance failures etc. Most of the topics will be covered at an intermediate level. Some mathematical content is unavoidable but should be fine for anyone comfortable with high school level mathematics or statistics
Module learning outcomes
By the end of the course students should be able to:
-
critically evaluate the role of financial markets in issuing publicly traded debt and equity securities, and promoting public good through sustainable business practices;
-
understand how/when financial theories depart from reality, and how corporate finance decision tools can be used to shape corporate purpose, sustainability and governance of firms;
-
evaluate investment decisions using discounted cash flow techniques under the assumptions of certainty;
-
calculate and apply appropriate costs of capital for equity and/or debt financed companies;
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analyse the impact of dividend and leverage policy on firm value, investment decisions and costs of capital;
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demonstrate critical knowledge and understanding of the key issues in the mergers and corporate restructuring
Module content
- Corporate structure, purpose, financing and governance
- Investment appraisal, project financing and analysis
- Cost of capital
- Capital structure
- Payout policy
- Mergers and corporate restructuring
Indicative assessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Special assessment rules
None
Indicative reassessment
| Task | % of module mark |
|---|---|
| Closed/in-person Exam (Centrally scheduled) | 100 |
Module feedback
Module assessment reports to students are written by the module leader for all assessments (open and closed) and placed on the VLE after the Board of Examiners has received the module marks.
The timescale for the return of feedback will accord with School policy.
Indicative reading
Brealey, R. A., Myers, S. C., Allen, F., and Edmans, A. (2022). Principles of Corporate Finance (14th ed.). McGraw-Hill Education.
Asquith, P., & Weiss, L. A. (2019). Lessons in Corporate Finance (2nd ed.). John Wiley & Sons.
Hillier, D., Ross, S., Westerfield, R., Jaffe, J., Jordan, B., (2020). Corporate Finance. 4th European Edition. McGraw-Hill Education.