FIN Corporate Finance - Wilber

Transcription

1 FIN Corporate Finance - Wilber Instructor Robin Wilber Title Office Phone Office Fax Phone Office Address Phone Hours Office Hours Course Credits Notes Dr. or Professor EPI Center 2-414, th St. N, Largo Tuesday 10-2, Wednesday 11-3, and Thursday 10 - Tuesday 10-2, Wednesday 11-3, and Thursday 10 - Wilber.Robin@spcollege.edu 3 Students should anticipate a response to ANGEL within 24 hours. If ANGEL is down or you are unable to upload your assignments, or if you have questions not related to this class, please send correspondence to main SPC account above. Course grading is normally complete within 2 days from submission due date. availability 7 days/week. Required Text Fundamentals of Corporate Finance Plus NEW with Pearson etext -- Access Card Package, 2/E Berk, DeMarzo & Harford 2012 Prentice Hall Published: 11/20/2011 ISBN-10: ISBN-13: Course Description This is an advanced course in financial analysis and decision-making from a corporate management perspective. Topics include capital budgeting, leverage and capital structure, payout policy, working capital, derivative and mergers and other special topics in finance. 47 contact hours. Course Objectives 1. The student will evaluate the key elements of the capital budgeting process. 2. The student will explain leverage and capital structure. 3. The student will evaluate payout policy. 4. The student will prepare working capital and current assets management plans. 5. The student will explain derivative securities. 6. The student will evaluate mergers and leveraged buyouts.

2 Tentative Schedule Week Class Due Class Topics Assignments Date Date 1 14-Oct A Review of PowerPoint 18-Oct Time Value of Money Bonds Text Ch. 3,4,6,7 18-Oct Stock Valuations Quizzes Ch. 3,4,6,7 18-Oct Homework Ch. 3,4,6,7 20-Oct 2 21-Oct Investment Decision Rules PowerPoint 25-Oct NPV, IRR, payback Equivalent annual annuity Text Ch. 8,9,10 25-Oct Capital Budgeting Incremental Cash Flows Analyzing the project Quizzes Ch. 8,9,10 25-Oct Break-even analysis Homework Ch. 8,9,10 27-Oct Real options Media Homework Ch Oct Stock Valuation Comparable firms and other methods Test #1 Ch. 3,4,6,7,8,9,10 Test #1 29-Oct 3 28-Oct Risk and Return PowerPoint 1-Nov Historical Tradeoff between risk and return Text Ch. 11,12,13 1-Nov Diversification Systematic Risk and Equity Risk CAPM Quizzes Ch. 11,12,13 1-Nov Cost of Capital Homework Ch. 11,12,13 3-Nov WACC Media Homework Ch. 11,12,13 Using to evaluate project 4 4-Nov Raising Equity Capital PowerPoint 8-Nov IPO SEO Text Ch. 14,15 8-Nov Debt Financing Corporate Debt Bond Covenants Quizzes Ch. 14,15 8-Nov Repayment provisions Homework Ch. 14,15 10-No Test #2 Ch. 11,12,13,14,15 Test #2 12-No 5 11-Nov Capital Structure PowerPoint 15-No Choices Perfect Capital Markets Text Ch. 16,17 15-No Debt and taxes

3 Costs of bankruptcy Optimal Capital Structure Quizzes Ch. 16,17 15-Nov Payout Policy Homework Ch. 16,17 17-Nov Dividends vs. Share Repurchases Media Homework Ch. 16 Dividends tax disadvantage Signaling Stock dividends, splits and spin offs 6 18-Nov Financial Modeling and Pro Forma PowerPoint 22-Nov Goals Percent of Sales Method Text Ch. 18,19 22-Nov Growth and Firm Value Short-Term Financial Planning Forecasting Quzizes Ch. 18,19 22-Nov Creating a plan Homework Ch. 18,19 24-Nov Media Homework Ch. 19 Test #3 Ch. 16,17,18,19 Test #3 26-Nov 25-Nov Thanksgiving Week (Wed 27th - Fri 29th) 7 2-Dec Option Application PowerPoint 6-Dec Option payoffs Factors affecting Options Ch. 21,22 6-Dec Mergers and Acquisitions Reasons to acquire Takeover process and defense Quizzes Ch. 21,22 6-Dec Who gets the value Homework Ch. 21,22 10-Dec 8 10-Dec Test #4 Final Exam All Chapters Test #4 11-Dec Quizzes are 9-10 questions. 30 minute time limit. Two attempts. Homework assignments are 3-7 problems. No time limit. Two attempts. Tests are multiple choice and problems. 120 minutes (2 hours) time limit. One attempt. Course Requirements Background Knowledge A working knowledge of College Algebra is absolutely required. In addition, a working knowledge of Statistics is strongly encouraged. Topics in this course will frequently incorporate concepts from Statistics. Students with a working knowledge of statistics concepts tend to have an easier time understanding these concepts. Computer Requirements Students should have regular access to a computer that is connected to the Internet. It is strongly recommended that students have a broadband (high-speed) internet connection such as DSL or a cable modem. When viewing on-line lab work and videos, students should have an internet connection that is stable and will not drop their connection. Students without a stable high-speed internet connection should consider making

4 arrangements to work lab problems with alternative means (i.e.at one of the St. Petersburg College libraries or a similar facility) where a stable high-speed internet connection is available. Internet Explorer is the preferred browser to use to access course materials in ANGEL. A standard file format has been devised to apply to all classes in order to support file compatibility, sharing, and commenting needs. Students are required to submit all assignments in Microsoft Office formats (Word, Excel and other Microsoft formats). Other formats may have ANGEL compatibility issues or instructor feedback in comments may not be viewable by students. The College of Business provides full function student licenses of Microsoft software, other than the basic Office product. Details regarding obtaining the software and licenses (free) are provided under the Student Resources folder in the College of Business Student Commons in ANGEL. Corporate Finance is a advanced quant course, meaning it will involve a considerable amount of computation. Excel is required for this course. Because of its built-in preprogramming many of the more complex and time-consuming computations may be simplified Time Commitment This is a 3-credit course conducted over 8 weeks. In order to meet accreditation standards, on average, students should expect to spend between 15 to 18 hours per week on course activities and assignments. Spending less time would be insufficient for success in this course. Course Prerequisites Managerial Finance (FIN 3403) and admission to Business Administration BS, Banking BAS, or International Business BAS. Grading Policy Chapter Homework (18) 25% Chapter Media (6) 5% Chapter Quizzes (18) 20% Tests (4) 50% Total 100% Attendance Policy Attendance Policy Participation in the course is essential in order to avoid being withdrawn for non-attendance. Participation is defined as reading, preparing and submitting ALL weekly lessons (especially prior blended class meetings). As well as completing and submitting all assignments on time, plus taking part in all other course communications in a timely manner. The Assignments and Due Dates spreadsheet in the schedule link above and also copied in the Course Materials folder in an easy to print format provides an overview of all assignments and due dates for this course which are required for active participation in this course. Students should review the college-wide attendance and financial aid policies included in the syllabus addendum linked below in the Miscellaneous area. Additionally students need to

5 review the student expectations regarding silencing or turning off all electronic devices during blended class meetings. Online students will be held to the same practices of courtesy and respect as outlined further on the guidelines posted in the syllabus addendum. Excused absences, of course, will not count against you. However students must contact the professor to make appropriate arrangements, along with provide them with supporting documentation accordingly. Advance notice should be given to the instructor whenever possible to arrange for alternatives. Lack of attendance can result in students being administratively withdrawn. Students are given a W in a course if two issues occur in Week 1 or 2, or are given a WF if issues occur at the 60% point (see last date to withdraw in the academic calendar to avoid this issue as it can result in serious financial aid and GPA consequences). If you are in your third attempt at completing a course, you will be given a WF grade at any point in the term if you fail to meet attendance requirements. Please see the student handbook and SPC policies further if needed. Academic Integrity Academic honesty and plagiarism falls under the Academic Honesty Policy of the college. The College Business has always had a 0 tolerance policy for academic dishonesty and if the student is in violation, an F in the course can be applied. **Understand that not properly giving credit to the sources used in your work, even when paraphrasing, is considered plagiarism and can result in not only a "0" for that assignment, but an "F" in the course**. Disability Policy If you wish to receive special accommodations as a student with a documented disability, please make an appointment with the Learning Specialist on the Clearwater, Tarpon Springs, or St. Petersburg sites. If you have a documented hearing loss, please contact the Program for the Deaf at (V/TDD). For more information, contact the SPC Office of Services for Students with Disabilities and review further information at: Miscellaneous Please click here to access the most up-to-date SPC policies and syllabus addendum: For Campus Security and Emergency Information, see For an escort to your car or to report an issue on any campus, call Students may also want to review Career Development Services (online) at: The student help desk can be reached at (727) or

6 The SPC library College of Business section is