Corporate Financial Decision-Making for Value Creation

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Description

About this course: In this course, participants will learn about the key financial decisions modern corporations face, as well as the alternative methods that can be employed to optimize the value of the firm’s assets. This is part of a Specialization in corporate finance created in partnership between the University of Melbourne and Bank of New York Mellon (BNY Mellon).

Who is this class for: Learners who seek to understand the tools and techniques firms use to guide financial decision-making. Key decisions considered in this course include; the investment decision, choosing the optimal financing mix to fund investment, creating value through mergers, acquisitions and corporate re…

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When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan

  • Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
  • Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.

About this course: In this course, participants will learn about the key financial decisions modern corporations face, as well as the alternative methods that can be employed to optimize the value of the firm’s assets. This is part of a Specialization in corporate finance created in partnership between the University of Melbourne and Bank of New York Mellon (BNY Mellon).

Who is this class for: Learners who seek to understand the tools and techniques firms use to guide financial decision-making. Key decisions considered in this course include; the investment decision, choosing the optimal financing mix to fund investment, creating value through mergers, acquisitions and corporate restructuring and how risk might be managed to create value for a firm.

Created by:  The University of Melbourne
  • Taught by:  Paul Kofman, Dean, Faculty of Business and Economics

    Sidney Myer Chair of Commerce
  • Taught by:  Sean Pinder, Associate Professor

    Faculty of Business and Economics
Basic Info Course 3 of 5 in the Essentials of Corporate Finance Specialization Language English How To Pass Pass all graded assignments to complete the course. User Ratings 4.7 stars Average User Rating 4.7See what learners said Coursework

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The University of Melbourne The University of Melbourne is an internationally recognised research intensive University with a strong tradition of excellence in teaching, research, and community engagement. Established in 1853, it is Australia's second oldest University.

Syllabus


WEEK 1


Alternative Approaches to Making the Optimal Investment Decision



This week we will define and explain the key approaches to investment evaluation utilized by corporations around the world. We will also consider the way in which sensitivity analysis might be employed so as to provide information to management beyond the simple “invest-don’t-invest” decision.


7 videos, 7 readings, 1 practice quiz expand


  1. Video: Corporate Financial Decision-Making for Value Creation - Overview
  2. Reading: Course Syllabus
  3. Reading: Your Teaching Team
  4. Reading: Week 1 Outline
  5. Reading: Start of Course Survey
  6. Video: 1.0 Welcome and Introduction
  7. Video: 1.1 Discounted Cash Flow Analysis
  8. Video: 1.2 Net Present Value Analysis
  9. Video: 1.3 Internal Rate of Return Analysis
  10. Video: 1.4 Alternatives to DCF Techniques
  11. Video: 1.5 Sensitivity Analysis
  12. Practice Quiz: Week 1 practice quiz - This quiz does not contribute to your final grade
  13. Reading: Resources
  14. Reading: Social Media
  15. Reading: Study Tools and Tips

Graded: Week 1 graded quiz - This quiz contributes 10% towards your final grade

WEEK 2


Raising Capital and the Choices Firms Face



In week 2 we will explain the mechanics behind how firms go to the market via an initial public offering (IPO) to raise new equity capital. We then demonstrate the impact of introducing debt on the returns to shareholders and highlight the different factors that influence debt levels for firms operating in different industries. We conclude by considering how firms make decisions about the optimal level of profits that should be returned to shareholders.


8 videos, 1 reading, 1 practice quiz expand


  1. Reading: Week 2 Outline
  2. Video: 2.0 Welcome and Introduction
  3. Video: 2.1 Raising Equity Capital 1: The IPO Process
  4. Video: 2.2 Raising Equity Capital 2: IPO Underpricing
  5. Video: 2.3 Raising Debt Capital 1: Introducing Financial Risk
  6. Video: 2.4 Raising Debt Capital 2: Explaining Differences in Debt Levels
  7. Video: 2.5 The Payout Decision
  8. Practice Quiz: Week 2 practice quiz - This quiz does not contribute to your final grade
  9. Video: BNY Mid Course Check-in
  10. Video: Mid Course Check-in with Sean Pinder

Graded: Week 2 graded quiz - This quiz contributes 10% towards your final grade

WEEK 3


Creating Value via Takeovers, Mergers and Corporate Restructuring



During week 3 we will explain how takeovers and mergers occur in practice, define the key terms used in the analysis of markets for corporate control and then develop an understanding of how changes in control might be objectively assessed via financial analysis. In addition to answering the question “how might we create wealth through growth?” we will also consider how value might be created by getting smaller in our review of the impact of corporate restructuring on shareholder wealth.


6 videos, 1 reading, 1 practice quiz expand


  1. Reading: Week 3 Outline
  2. Video: 3.0 Welcome and Introduction
  3. Video: 3.1 The Anatomy of an Acquisition
  4. Video: 3.2 The Financial Evaluation of a Takeover
  5. Video: 3.3 Establishing the Economic Rationale for Takeover Activity
  6. Video: 3.4 Corporate Restructuring via Spinoffs, Divestitures and Equity Carve-outs
  7. Video: 3.5 Empirical Evidence of the Wealth Impact of Mergers, Acquisitions and Corporate Restructuring
  8. Practice Quiz: Week 3 practice quiz - This quiz does not contribute to your final grade

Graded: Week 3 graded quiz - This quiz contributes 10% towards your final grade

WEEK 4


Alternative Approaches to Risk Management



In the final week of this course we define and demonstrate the use of different derivative securities in risk management including; forwards, futures and option contracts. We explain the key drivers of option values and explain how options might be combined to provide different payoff structures. We conclude by considering how risk management might create value for shareholders.


6 videos, 4 readings, 1 practice quiz expand


  1. Reading: Week 4 Outline
  2. Video: 4.0 Introduction
  3. Video: 4.1 Using Forwards and Futures to Manage Risk
  4. Video: 4.2 Introducing Options
  5. Video: 4.3 The Drivers of Option Values
  6. Video: 4.4 Caps, Floors and Collars
  7. Video: 4.5 Why Manage Risk?
  8. Practice Quiz: Week 4 practice quiz - This quiz does not contribute to your final grade
  9. Reading: Academic Integrity
  10. Reading: Where To From Here? The Next Step.
  11. Reading: End of Course Survey

Graded: Week 4 graded quiz - This quiz contributes 10% towards your final grade
Graded: Course Final Exam - This quiz contributes 40% towards your final grade
Graded: Peer Assessment – This contributes 20% towards your final grade

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