| Course Unit Code | 154-0513/05 |
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| Number of ECTS Credits Allocated | 5 ECTS credits |
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| Type of Course Unit * | Choice-compulsory |
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| Level of Course Unit * | Second Cycle |
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| Year of Study * | |
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| Semester when the Course Unit is delivered | Summer Semester |
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| Mode of Delivery | Face-to-face |
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| Language of Instruction | English |
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| Prerequisites and Co-Requisites | Course succeeds to compulsory courses of previous semester |
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| Name of Lecturer(s) | Personal ID | Name |
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| CUL33 | doc. Ing. Miroslav Čulík, Ph.D. |
| GUR022 | Ing. Petr Gurný, Ph.D. |
| Summary |
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| The course develops selected issues of the corporate finance fundamentals; in addition, new issues and problems are studied and explained in order to support the quality of the financial decision-making. Attention is paid particularly to financial analysis, financial planning and valuation. |
| Learning Outcomes of the Course Unit |
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The aim of the course is to introduse the students in selected areas of financial decision-making.
Students will be able:
- to introduce the importance of time value of money into decision-making,
- to apply investment criterions,
- to analyze and select optimal sources for company financing,
- to propose financial plan of a firm. |
| Course Contents |
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1. Principles of financial management and decision-making
2. Methods and approaches of the company´s financial performance assessment
3. Financial analysis of a company
4. Pyramidal decomposition, influence quantification and prediction models
5. Company´s capital structure, costs of capital, models for cost of capital determination.
6. Capital structure optimization.
7. Capital budgeting – objective, principles, stages, categorization of investments. Project´s cash flow prediction.
8. Investment project evaluation.
9. Analysis of risk factors of investments. Assessment and selection of mutually exclusive investments.
10. Capital sources of a company. Rules for assets financing. Comparison and selection of optimal source.
11. Dividends and dividend policy of a company.
12. Financial planning.
13. Company valuation.
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| Recommended or Required Reading |
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| Required Reading: |
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BRIGHAM, Eugene. Financial Management: Theory & Practice. New York: South-Western College Pub, 2019. 1180 p. ISBN 130563229X.
CLAYMAN, Michelle, et al. Corporate Finance: a practical approach. New York: Wiley, 2018. 528 p. ISBN 1118105370.
VERNIMMEN, Pierre et al. Corporate Finance: Theory and Practice. New York: Wiley, 2015. 1056 p. ISBN 0470092254.
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BERK, Johnathan and Peter DEMERZO. Corporate Finance. Harlow: Pearson, 2020. 1144 p. ISBN 0273792024.
DLUHOŠOVÁ, Dana, et al. Financial Management and Decision-making of a Company. SAEI, Vol. 28. Ostrava: VSB-TU Ostrava, 2014. 259 p. ISBN 978-80-248-3619-5.
RICHTAROVÁ, Dagmar et al. Financial management and decision-making of a company: workbook with solution. SOT, vol. 15. Ostrava: VSB-TU Ostrava, 2013. 196 p. ISBN 978-80-248-3166-4.
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| Recommended Reading: |
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BENNINGA, S. Principles of Finance with Excel. London: Oxford University Press, 2017. 801 p. ISBN 978-0-19-975547-9.
LASHER, W.R. Financial Management.A Practical Approach. New York: South-Western College Pub, 2018. 837 p. ISBN 978-0-538-74358-7.
ROBINSON, T.R., et al. International Financial Statement Analysis. New York: Wiley, 2018. 828 p. ISBN 978-0-470-28766-8. |
DAMODARAN, Answath. Applied Corporate Finance. New York: Wiley, 2018. 638 p. ISBN 978-0-471-66093-4.
DAMODARAN, Answath. Corporate Finance: Theory and Practice. 2nd Edition. New York: Wiley, 2019. 1008 p. 978-0-471-28332-4.
ROSS, A., WESTERFIELD, W. Corporate Finance. 6th Edition, London: McGraw Hill/Irwin, 2022.882 p. ISBN 978-0-07-724612-9.
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| Planned learning activities and teaching methods |
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| Lectures, Tutorials |
| Assesment methods and criteria |
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| Tasks are not Defined |