Corporate Finance - ECFS866
Corporate Finance is concerned with understanding the link between shareholder value and corporate investment and financing strategies. Students will explore how corporate finance skills can contribute to developing value creating strategies for an organisation. Building on valuation and financial analysis skills from pre-requisite courses, the unit explores how to value an organisation, and assess key investment decisions including capital investment projects, mergers, acquisitions and international investments. The impact on value of risk, optionality and strategic choices is also explored. Valuation approaches utilised include a range of Discounted Cash Flow models, Residual Income and Multiples valuation. The unit considers how to develop practical, value creating financing strategies, including the optimal mix of debt and equity, capital management and debt management strategies. Financing strategies in the context of M&A and international investments are also considered. The unit addresses how to calculate cost of capital for companies and projects, and how to incorporate financing impacts into a valuation. Practical issues in the implementation of the shareholder value objective, including the impact of governance strategies, alternative ownership structures and performance measures are considered.
| Credit Points: | 4 |
| When Offered: | AFC Term 1 City - Applied Finance Centre, City Campus, January to March AFC Term 2 MB - Applied Finance Centre, Melbourne Campus, March to June AFC Term 3 City - Applied Finance Centre, City Campus, June to September |
| Staff Contact(s): | Dr Tony Carlton, Dr Roland Winn |
| Prerequisites: |
Admission to MAppFin or MAppFin(Adv) or GradDipAppFin |
| Corequisites: | |
| NCCW(s): | |
| Unit Designation(s): | |
| Assessed As: | Graded |
| Offered By: | Department of Applied Finance Faculty of Business and Economics |
Course structures, including unit offerings, are subject to change.
Need help? Ask us.