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Syl 3010

This document provides information about the FB3010: Financial Management for Value Creation course at City University of Hong Kong for Semester B in 2011/12. It outlines the course overview, prerequisites, materials, grading, schedule, and contact information. The course uses net present value and discounted cash flow models to analyze how investment and financing decisions affect business value. Topics include capital budgeting, bonds, stocks, efficient markets, and risk/return. Students are expected to commit 5 hours per week to read assignments and participate actively in class discussions, which factor into the final grade along with assignments/midterm and the final exam.

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Tim Ling
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83 views3 pages

Syl 3010

This document provides information about the FB3010: Financial Management for Value Creation course at City University of Hong Kong for Semester B in 2011/12. It outlines the course overview, prerequisites, materials, grading, schedule, and contact information. The course uses net present value and discounted cash flow models to analyze how investment and financing decisions affect business value. Topics include capital budgeting, bonds, stocks, efficient markets, and risk/return. Students are expected to commit 5 hours per week to read assignments and participate actively in class discussions, which factor into the final grade along with assignments/midterm and the final exam.

Uploaded by

Tim Ling
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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The City University of Hong Kong FB3010: Financial Management for Value Creation Semester B, 2011/12 S61: Monday,

18:30-21:20, CY312 S62: Wednesday, 18:30-21:20, CY312 TA: Ms Lin (jinglin6@student.cityu.edu.hk) Office Hours: Mon&Wed, 16:30-18:20 Dr. James J.D. Wang Office: P7413 Phone: 3442-8814 jimwang@cityu.edu.hk

Overview This course examines important issues in financial management from the perspective of financial managers who are responsible for making significant investment and financing decisions. The concept of net present value, suitably adapted to account for uncertainty, taxes, and strategic concerns, is used to analyze how investment and financing decisions interact to affect the value of the business. The course covers topics that are also of importance to decision making in corporate strategy and general management. After establishing the NPV basics and the discounted-cash-flow (DCF) valuation models, we introduce rules of capital budgeting and analyze typical investment problems derived from real business settings such as investing in bonds and stocks, and project selection. We also address a series of topics of interest to corporate managers such as the interactions between strategy and finance, efficient market hypothesis. Advanced topics that are (reluctantly) left out of this introductory Corporate Finance course include restructuring transactions such leveraged-buyouts (LBOs), tax planning, executive compensation, issues facing multinational companies such as international financing. While the course is not designed to dwell on abstraction, the basic theoretical underpinnings of the various topics are a prerequisite to competent analysis and intellectual discourse. We emphasize the development of problem-solving skills based on a good understanding of the business environment as opposed to pure theorizing or mindless numbers exercise. Because of the practical importance of the material and as illustration of the relevant theories, we will discuss examples and cases. The pace of the course is swift and mastery of the material can be time-consuming (estimated 5 hours/week of independent study). Therefore, a strong and continuing time commitment is necessary. Students are expected to have read the assigned materials before the corresponding lecture and be ready to participate in class discussions. Class participation is important. I will call upon individual students to lead a discussion or otherwise participate in the discussion. The level of participation is a factor in assigning the final letter grade. Prerequisites

Some exposure to basic financial statement analysis and how financial institutions work would certainly be useful. For example, you definitely need a preview (reading Chapters 1 and 2 of the textbook as a starter) if you find the following terminologies perplexing: equity, financial leverage, net working capital, market value. On the other hand, this course does not require advanced knowledge of mathematics, statistics, or programming. However, a working familiarity with algebra and Excel is helpful. Materials Reference: Ross, Westerfield, Jaffe (henceforth RWJ), Corporate Finance, 9th Edition, McGrawHill/Irwin Jordan, Westerfield, Ross (henceforth JWR), Corporate Finance Essentials, 7th Edition, McGraw-Hill/Irwin Newspapers: Asian Wall Street Journal, Financial Times Grading Your course grade is based on your performance on: 1. Assignments and/or Midterm Exam (40%) 2. Final exam (50%) 3. Class participation (10%, based on attendance and active class participation) Miscellaneous I may ask you to do team assignments in/out of class. Not all assigned homework problems would be graded. You are strongly encouraged to work out the questions and problems from relevant materials. You may discuss these problems with others after you have made a serious attempt at them. Simply reading a solution manual is a very poor substitute to attempting the problems by yourself. Additional student resources are available at www.mhhe.com/rwj/ and on Blackboard. You are expected to adhere to a high standard of integrity. Any form of academic dishonesty has no place in our University. If you have any question regarding the course, you should contact me immediately. To continuously improve the effectiveness of teaching and learning, I value your input regarding any aspect of the course.

Class Schedule (tentative)

Introduction Financial Statement Analysis Time Value of Money DCF Valuation Investment Decisions Bond and Stock Valuation Capital Budgeting Criteria Efficient Market Hypothesis Risk and Return Cost of Capital Video: Trillion Dollar Bet Review and Catching-up Final Exam (details to be announced)

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