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MN20503: Intermediate corporate finance for managers

[Page last updated: 23 August 2022]

Academic Year: 2022/23
Owning Department/School: School of Management
Credits: 6 [equivalent to 12 CATS credits]
Notional Study Hours: 120
Level: Intermediate (FHEQ level 5)
Period:
Semester 2
Assessment Summary: EX 100%
Assessment Detail:
  • Examination (EX 100% - Qualifying Mark: 35)
Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Requisites: Before or while taking this module you must ( take MN10500 AND take MN20502 ) OR take ES20070
Learning Outcomes: By the end of this unit, the student should be able to:
* Perform numerical analyses of investment appraisal and capital structure decisions.
* Discuss the results of the aforementioned analyses.
* Write management-style reports recommending optimal investment and financing policies, considering all of the issues involved.

Aims: This unit will explore theoretical issues in corporate finance and will enable students to understand the practical issues involved in a firm's investment and financing decisions.

Skills: Intellectual skills
* The ability to perform investment appraisal and capital structure techniques.
* The ability to assess mergers and takeovers.
* The ability to price options.
Professional/practical skills.
* The ability to present corporate finance decisions to management.
Transferable/key skills
* The ability to apply financial techniques to management decisions.
Personal/interpersonal
* The ability to communicate information regarding complex financial decisions to users of such information.

Content: New Investment Appraisal (particularly decision trees, risk analysis, and real options)
Cost of Capital (capital asset pricing model and arbitrage pricing models)
The effect of capital structure on firm value (particularly the effects of managerial incentives and signalling on a firm's financing decisions)
Optimum Capital Structure, with regard to tax, agency costs, and signalling.
Convertible debt.
Risk Management.
Dividend Policy.
Analysis of distressed companies.
Takeovers.

Programme availability:

MN20503 is a Generally Available Unit which is available to all students of the University (subject to the usual constraints) to take either as a Director of Studies approved option within their programme of study or as an 'extra' unit which does not count towards a final award.

MN20503 is Optional on the following programmes:

Department of Chemistry
  • USCH-AFB03 : BSc(Hons) Chemistry with Management (Year 3)
  • USCH-AAB04 : BSc(Hons) Chemistry with Management with Study year abroad (Year 4)
  • USCH-AKB04 : BSc(Hons) Chemistry with Management with Industrial Placement (Year 4)
  • USCH-AFM07 : MSci(Hons) Chemistry with Management (Year 3)
  • USCH-AKM07 : MSci(Hons) Chemistry with Management with Industrial Placement (Year 4)
Department of Economics
  • UHES-AFB03 : BSc(Hons) Economics (Year 2)
  • UHES-AAB03 : BSc(Hons) Economics with Study year abroad (Year 2)
  • UHES-AKB03 : BSc(Hons) Economics with Year long work placement (Year 2)
  • UHES-ACB03 : BSc(Hons) Economics with Combined Placement and Study Abroad (Year 2)
Department of Mathematical Sciences
  • USMA-AFB15 : BSc(Hons) Mathematical Sciences (Year 3)
  • USMA-AAB16 : BSc(Hons) Mathematical Sciences with Study year abroad (Year 4)
  • USMA-AKB16 : BSc(Hons) Mathematical Sciences with Year long work placement (Year 4)
  • USMA-AFB05 : BSc(Hons) Statistics (Year 3)
  • USMA-AAB06 : BSc(Hons) Statistics with Study year abroad (Year 4)
  • USMA-AKB06 : BSc(Hons) Statistics with Year long work placement (Year 4)
  • USMA-AFM14 : MMath(Hons) Mathematics (Year 3)
  • USMA-AKM15 : MMath(Hons) Mathematics with Year long work placement (Year 4)
Department of Politics, Languages and International Studies
  • UHPL-AFB10 : BSc(Hons) Politics with Economics (Year 2)
  • UHPL-AAB10 : BSc(Hons) Politics with Economics with Study year abroad (Year 2)
  • UHPL-AKB10 : BSc(Hons) Politics with Economics with Year long work placement (Year 2)

Notes:

  • This unit catalogue is applicable for the 2022/23 academic year only. Students continuing their studies into 2023/24 and beyond should not assume that this unit will be available in future years in the format displayed here for 2022/23.
  • Programmes and units are subject to change in accordance with normal University procedures.
  • Availability of units will be subject to constraints such as staff availability, minimum and maximum group sizes, and timetabling factors as well as a student's ability to meet any pre-requisite rules.
  • Find out more about these and other important University terms and conditions here.