Duration
24h Th, 60h AUTR
Number of credits
| OpenBordersMBA | 5 crédits |
Lecturer
Language(s) of instruction
English language
Organisation and examination
Teaching in the second semester
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
A. Introduction to Finance
* Market Finance (Modern Portfolio Theory)
* From Accounting to strategic / « corporate » finance
o Introduction to common size-financial statements and ratio analysis
* Case studies
B1. Valuation and investments
* Firm valuation
* Financial analyst report
o Introduction to financial analyst reports
? Buy-side versus sell-side analysts
? Structure and guidelines for writing financial analysts' report
B2. Investing in bonds and related risks
* Bond valuation
* Yield and credit spreads
* Bond duration and interest rate risk
* Insights into credit rating and credit risk analysis
B3. Fundamental approach to asset management
* Investment policy, asset allocation and market views
o From Modern Portfolio Theory to Asset Management
o Active versus passive management
o Paradigm shift in Asset Management
o Strategic and Tactical Asset Allocation
o Core-Satellite
C. Sustainable finance and investments
* An introduction to Sustainable Finance
* Sustainable investments
Learning outcomes of the learning unit
The intended learning objectives (ILOs) for this course are:
* Identify and synthesize theories, concepts, tools, skills practices, and research to address problems, accomplish complex tasks, and complete projects that are common in a business environment.
* Develop, implement, and evaluate a strategy to assess opportunities that sustain and improve the organization's competitive position.
* Compare the environment in which business operates in an EU regional context and elsewhere through direct experience and interaction with local, regional, and multinational businesses.
* Examine the implications of corporate strategy for financing, knowledge, and management; estimate the need for funds, and project management.
* Examine the firm's ESG (Environmental, Social, and Governance) performance and its implications.
* Organize and lead a team to collective group accomplishment.
* Demonstrate managerial communication skills.
* Synthesize the global context of Risk Management Rules.
* Specify typology and identification of key risks.
* Assess the risk-adjusted performance of your asset allocation.
* Employ main models and tools for risk management.
After this Course, students should be able to:
* Perform diagnostics on the company's operating performance and on the key value drivers to improve its performance.
* Perform company valuation using various methods.
* Identify undervalued or overvalued assets.
* Understand the international financial landscape and the challenges and opportunities of a Global Financial Environment.
* Identify the key financial dimensions facing the firm (interest rates, credit risk, exchange rates, commodities, equity, liquidity, and ESG risks) and the adequate ways to proactively manage them.
* Understand approaches to asset management and security selection.
Prerequisite knowledge and skills
Accounting
Planned learning activities and teaching methods
- Readings (book chapters, slides) and assignments to prepare for the seminar.
- Repeating and deepening the subject matters prepared by the participants.
- Casework in small groups applying the relevant market finance concepts. You have been assigned to a group, you can find the members of your group on the OMBA platform.
- Brief presentations by the participants on confined topics; they will serve for further learning and assessment of the cases on one hand, and they will be one of the criteria for the mark or grade acquired for the course on the other hand.
- Other case and practical exercises.
Mode of delivery (face to face, distance learning, hybrid learning)
Distance learning and on-site seminar
Course materials and recommended or required readings
Compulsory reading
Stephen A. Ross, Randolph W. Westerfield, Jeffrey Jaffe, and Bradford D. Jordan. Corporate Finance, International edition. McGraw-Hill
Suggested reading
Managing Investment Portfolio, CFA Institute
Exam(s) in session
Any session
- In-person
oral exam
Written work / report
Continuous assessment
Additional information:
Exam(s) in session
Any session
- In-person
oral exam
Written work / report
Continuous assessment
Additional information:
The evaluation will be done based on the following grid:
* Team preparation of the financial report: 30% of final grade
* Individual grading on group presentation and working session (Saturday): 35% of final grade
* Individual grading on group presentation (Sunday) and working session: 35% of final grade
Work placement(s)
Organisational remarks and main changes to the course
Distance learning and on-site seminar
Contacts
Prof. Caterina Santi: caterina.santi@uliege.be