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2017　Corporate Finance II

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Academic unit or major
Graduate major in Technology and Innovation Management
Instructor(s)
Kozu Tomotake 
Class Format
Lecture     
Media-enhanced courses
Day/Period(Room No.)
Thr11-12(W936)  
Group
-
Course number
TIM.A535
Credits
1
Academic year
2017
Offered quarter
4Q
Syllabus updated
2017/10/4
Lecture notes updated
-
Language used
Japanese
Access Index

Course description and aims

This course will focus on the task of corporate finance faced by CFOs (Chief Financial Officers) and CROs (Chief Risk Officers), namely, managing financial investment to increase enterprise value.
The instructor will explain subjects such as risk assessment techniques, risk hedging techniques using financial products or derivatives, and corporate bonds and credit ratings from the standpoint of both theory and application.
The aim is for students to acquire knowledge of the various theories of corporate finance and their relevance to analyze how they are applied in the corporate activities of ever-changing modern society and to put them into practice.

Student learning outcomes

By the end of this course, students will be able to:
1) Understand methods of risk management and quantify risk.
2) Analyze risk hedging methods using derivatives.
3) Evaluate corporate bonds and credit risk.

Keywords

Corporate Finance, Enterprise Valuation, Financial Statement Analysis, Fixed Income, Risk Management, Derivatives

Competencies that will be developed

✔ Specialist skills Intercultural skills Communication skills Critical thinking skills ✔ Practical and/or problem-solving skills

Class flow

In the first half of this course, students will learn financial statement analysis and the basics of financial mathematics, necessary for evaluating enterprise value. In the second half, they will apply these, such as to evaluate enterprise value and bond credit.
Through this course, students will learn application to specific cases in addition to theory.

Course schedule/Required learning

  Course schedule Required learning
Class 1 Introduction / Corporate Risk Management ERM, risk factors and modeling Understand risk management framework
Class 2 Risk management model Ⅰ 　Market Risk modeling Computation of Market Risk
Class 3 Risk management model Ⅱ 　Credit Risk modeling Computation of Credit Risk
Class 4 Risk hedge methodology Ⅰ 　Swap Valuation Understand basics of Swap and its valuation
Class 5 Risk hedge methodology Ⅱ 　Option Valuation Understand basics of Option and its valuation
Class 6 Other derivatives products Overview of various derivatives Understand various derivatives
Class 7 Fund raising method, corporate bond valuation, credit scoring model Basics of fund raising method by evaluating corporate credit risk Understand corporate bond valuation and credit scoring model
Class 8 Problems of corporate finance theories Gaps between theories and actual business cases Understand problems of applying theories to actual business situation

Textbook(s)

NA

Reference books, course materials, etc.

R.Brealey, S.Myers, F.Allen 『Principles of Corporate Finance, 10/e』 Nikkei BP Marketing,　ISBN-978-4-8222-4860-4，(Japanese)

Assessment criteria and methods

Students' knowledge of theories of corporate finance, and their ability to apply them to problems will be assessed.
Report (100%)

Related courses

  • Corporate Finance Ⅰ

Prerequisites (i.e., required knowledge, skills, courses, etc.)

Basic knowledge of mathematics including differential-integral equation, statistics, matrix algebra.

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