FIN 440 - Advanced corporate Finance

• Instructor: Dr: Manara Toukabri
• Email: manara.toukabri@yahoo.fr
• Pre-requisite:
  • Corporate finance
  • Financial markets
• Program of study: Mandatory Course for Major Finance and Accounting

Course Description

This advanced corporate finance course extends previous finance courses and deepens students’ knowledge and skills in the theory and techniques of modern corporate finance. It focuses on mechanisms of raising capital for private and public firms for long and short term through equities and debt. The growing impact of environmental and social considerations in investing is also highlighted. This course tries also to build knowledge on some alternative investments, including: private equity and real estate.

Course Learning Outcomes

General learning outcomes

At the end of this course, students should be able to evaluate the most complex strategic decisions of raising capital for private and public companies though equities and debt, mergers and acquisitions, corporate governance mechanisms, private equity concept and valuation techniques and the real estate investment.

Specific learning outcomes:

• Analyze the fundamentals corporate mechanism of raising capital for private and public firms through equity and debt.
• Explain sources of value creation in private equity.
• Explain how private equity firms align their interests with those of the managers of portfolio companies
• Describe long term and short term debt mechanisms.
• Classify merger and acquisition (M&A) activities based on forms of integration and relatedness of business activities.
• Explain common motivations behind M&A activity
• Understand and describe the basics of corporate governance and ESG.
• Evaluate the effectiveness of a company’s corporate governance policies and practices.
• Understand basic form of real estate investments
• Describe types of publicly traded real estate securities and private equity investment in real estate.
• Explain advantages and disadvantages of investing in real estate through publicly traded securities.

Course Materials

• CFA (2020) materials
• Corporate Finance, by Ross Westerfield, Jaffe, and Roberts (Sixth Canadian Edition), McGraw-Hill Ryerson, 2011 (textbook is available at the bookstore and reserve copy is available at the Management Library in DMS)
• Corporate Finance”, Jonathan Berk and Peter DeMarzo, Pearson International Edition, Pearson Addisson Wesley, 2013, 3rd edition.
• “Corporate finance Theory and Practice”, Pierre Vernimmen

Course Content

• Chap 1: Raising Equity Capital
• Chap 2: Mergers & Acquisitions (M&A)
• Chap 3: Corporate governance and ESG considerations
• Chap 4: Private Equity valuation
• Chap 5: Long term Debt Financing
• Chap 6: Financial planning and Short-term finance
• Chap 7: Real estate investment: public and private
• Special topics: New trends of research in corporate Finance

TBS Grading Scale