Syllabus
Registration via LPIS
The course addresses classic corporate finance topics with a particular focus on international finance in small and medium enterprises.
The course covers topics such as:
- Capital structure theory and decision
- Company valuation in an international context (DCF, CAPM)
- International capital budgeting & cost of capital
- Exchange rate management
- Interest rate management
- Trade finance
- International financial reporting and taxation
- Foreign investment decisions
- Real options, international joint ventures, and M&A
During the course, students
- have acquired theoretical and conceptual knowledge on international financial management,
- learn about corporate valuation techniques,
- have a systematic understanding of financial risk management techniques,
- understand the relationships between taxation and finacne,
- are knowledgeable about trade finance instruments,
- understand strategic financial management in an international context.
Presence in all sessions of the PI is required. Exceptions must be coordinated with the lecturer and must not exceed one full course session.
- The course is divided in lectures and interactive presentations. Each session will start with a written group assessment of the compulsory reader and last session's content. The written group assignments are not corrected. They serve merely for student self assessments. Questions from these assignments will form 70% of the final exam. This will be followed by a theoretical lecture on the topic at hand.
- In groups, students present one empirical academic paper on the topic. Questions related to the student presentations will form 30% of the final exam.
- Students are required to read compulsory readers before each session.
- In class contributions (individual): 20%
- Case study or paper presentation (group): 20%
- Final exam (individual): 60%
- Students are expected to attend all sessions.
- Student groups should prepare a 30-minute, power-point supported presentation of their assigned article. Students will receive a group grade. No individual marks can be awarded. Students are expected to contribute to the presentation to equal extents.
Dr. Jakob Müllner
Associate Professor
WU Vienna - Wirtschaftsuniversität Wien
Institute for Export Management
Department of Global Business and Trade
Welthandelsplatz 1 / D1.5 OG, A-1020 Wien
Tel.: +43-1-313 36-4374
Fax: +43-1-313 36-90-4374
jakob.muellner@wu.ac.at
Open office hours: Tue 10-12
Unit | Date | Contents |
---|---|---|
1 | 10.10.2019 | 09:00-13:00 Uhr Topic: International Corporate Finance and Internationalization Compulsory readers class I: Internationalization theories: Reference for basics of corporate finance (not compulsory) Classroom Agenda: Lecture Topics: |
2 | 24.10.2019 | 09:00-13:00 Uhr Topic: Export & Trade Finance
International Debt & Equity: Further reference materials (not compulsory) Classroom Agenda: Lecture Topics: Paper presentation - Group 1 (30 minutes + 10 minutes discussion): Mian & Smith (1992) - Accounts receivable management policy - Theory and evidence. Journal of Finance, 47(1): 169-200. |
3 | 31.10.2019 | 09:00-13:00 Uhr Topic: Foreign Exchange Risk Management Compulsory reader IV: Managing and measuring economic exchange risk: Classroom Agenda: Lecture Topics: Paper presentation - Group 2 (30 minutes + 10 minutes discussion): Brown, G. W. 2001. Managing foreign exchange risk with derivatives. Journal of Financial Economics, 60(2): 401-48.. |
4 | 07.11.2019 | 09:00-13:00 Uhr Topic: Portfolios, CAPM & International Investment Appraisal Compulsory reader IV: International capital budgeting: Capital Asset Pricing Model (CAPM): Portfolio Theory: Further reference materials (not compulsory) Classroom Agenda:
Paper presentation – Group 3 (30 minutes + 10 minutes discussion): |
5 | 15.11.2019 | 13:30 - 17:30 Uhr Topic: Capital Structure and Strategic Finance
Country risk: Classroom Agenda:
Paper presentation – Group 4 (30 minutes + 10 minutes discussion): |
6 | 21.11.2019 | 09:00-11:30 Uhr Final Exam (120 min) The final exam is composed of questions from the group assignments. No supplementary materials allowed. |
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