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Semester 2

Corporate Finance (BUST10012)

Subject

Business Studies

College

CAHSS

Credits

20

Normal Year Taken

4

Delivery Session Year

2023/2024

Pre-requisites

Visiting students must have completed at least 4 Business courses at grade B or above. This MUST INCLUDE at least one Finance course at intermediate level. This course cannot be taken alongside BUST08003 Principles of Finance or BUST08030 Introduction to Corporate Finance. We will only consider University/College level courses.

Course Summary

This is a course on empirical research in mainstream topics in corporate finance, for example debt policy, dividend policy, the financing of companies, corporate governance, and the effects of family ownership and private equity.

Course Description

Honours Corporate Finance considers aspects of the financial management, financing and governance of companies believed to be of academic interest and practical importance. The aims are to introduce students to current thinking and empirical research on the chosen topics, and to develop skills of understanding, analysis and explanation. The course builds on the finance and accounting learned earlier in the degree programme, and so it assumes some knowledge of companies and financial reporting, and concepts such as discounted cash flow and the cost of capital. The course adds to students' knowledge mainly by examining empirical research on the topics studied. Research in corporate finance is a social science, the aim of which is to understand about value creation and financial decision-making as observed in the corporate sector. Students will learn about the current state of knowledge on each topic studied and about how research in corporate finance is conducted, through studying the research design and contribution to knowledge of carefully selected papers. Outline Content The syllabus will vary somewhat from year to year, depending on developments in the literature, the interests of the lecturer(s), and the content of other Honours courses in finance offered by the Business School. Student Learning Experience Tuition consists of ten two-hour lectures together with a number of seminars in which we discuss specific questions relating to papers on the reading list. In each lecture an overview of the topic is presented and several papers are reviewed in some detail, to give insight into the current state of research on the topic. Students learning occurs primarily through engagement with the lectures and seminars, and through reading and thinking about the papers and other literature recommended. The assessed assignment for the course is currently an individual presentation of two empirical papers of the students choice. This assignment provides further opportunities to engage with the literature, and develops students skills of communication and explanation.

Assessment Information

Written Exam 70%, Coursework 30%, Practical Exam 0%

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