Aims

To set out the main problems currently being experienced in corporate finance

To provide a work-related and concrete dimension to the body of knowledge acquired to date

To fill in any remaining gaps in students' grasp of corporate finance

Course Content  

Corporate Strategy

• Financial strategy and economic environment, examples of European groups over past 40 years
• Financial analysis of a sector and development of a financial product, example from the movie business
• Mergers and acquisitions: Valuation methods and negotiating strategies

Financial Policy

• Financial policy, market values, self-financing and capital reductions
• Financial policy, share prices and tapping capital markets
• Liquidity and its impact on value

Financial Engineering

• Off-balance sheet financing techniques: Improving the presentation of accounts
• The impact of corporate structures on value
• Financial engineering and companies in trouble: conflicts between shareholders and creditors

Teaching Method  

This course will teach students how to analyse operations on the European market in depth, and also look at original operations on the US market. Students will be split into groups and given a case study that they will have work on together and then present to the class. Pascal will give a short introduction to each topic, outlining the key points to keep in mind, and will provide feedback on the presentations given.

"If a proper MBA class is about cases, this one is definitely a must. One class, one topic, one case, all of which are taken from Pr. Quiry’s personal experience as a financial advisor. Nothing like a typical HBS case, Pr. Quiry will engage and challenge the participants also by sometimes sharing the insightful “behind the scene” stories. This class is a cocktail of most “financial dimensions” that a manager will face in a career, and as such is not dedicated to finance people. All questions are welcomed, from operations to governance."

Arnaud Platz, Full-time MBA 2010

"Based on several real case studies, this class brings you a step closer to real corporate life, helping you understand the different mechanisms that shapes a corporate's financial policy and the interactions between financial markets inverstors and companies.
This course is the perfect add-on to the Finance d'Entreprise taught by Pascal Quiry in Core 1 and is a real asset for anyone thinking about getting a job in Corporate Finance."

Thomas Negrel, Full-time MBA 2010