This course aims to help students learn to use financial knowledge and perspectives and to acquire an entrepreneurial perspective when making management decisions. In other words, it focuses on a study of how CEOs should make managerial choices and decisions with the help of CFOs. The course therefore covers optimal capital structure, merger and acquisition strategies, and initial public offerings, among other topics. This course assumes that students already have basic knowledge on forecast financial statements learned in Finance, the impacts of business strategies on financing, and fundamental business valuation. The course will be conducted primarily through case studies, and related or applicable topics not covered in the cases will be covered in the lectures to provide students with a systematic understanding of corporate finance.
This course is designed for those aiming to acquire the basics for decision-making to address financial issues as business leaders.
Section A THEME: ・Analysis Process Design ・Investment Decision and Fund Procurement
CASE: ・Business Risk and β Value: Cost of Capital ・Flash Memory, Inc.
Section B THEME: Investment Decision and Fund Procurement (Continued)
CASE: Flash Memory, Inc.
Section A THEME: Debt and Optimal Capital Structure Business Characteristics and Financial Policy (Optimal Capital Structure)
CASE: ・Debt and Optimal Capital Structure ・A New Financial Policy at Swedish Match
Section B THEME: Business Characteristics and Financial Policy (Optimal Capital Structure) (Continued)
CASE: A New Financial Policy at Swedish Match
Section A THEME: ・Valuation Approaches ・Business and Financial Strategy in M&A
CASE: ・Enterprise Valuation Methods ・HEALTH CARE MANUFACTURING INC.
Section B THEME: Business and Financial Strategy in M&A (Continued)
CASE: HEALTH CARE MANUFACTURING INC.
Section A THEME: Comprehensive CASE: Analysis
CASE: Buffett’s Bid for Media General’s Newspapers
Section B THEME: Comprehensive CASE: Analysis (Continued)
Section A THEME: ・Risk and Uncertainty ・Valuation under Uncertainties (IPO of Emerging Company)
CASE: Risk and Uncertainty – Valuation Approach under Uncertainties – Snap Inc.’s IPO (A)
Section B THEME: Valuation under Uncertainties (IPO of Emerging Company) (Continued)
CASE: Snap Inc.’s IPO (A)
Section A THEME: LBO (Leveraged Buy-out) and APV and WACC Methods of Valuation Comprehensive Exercise (M&A Utilizing Debt (LBO))
CASE: ・LBO (Leveraged Buy-out) and APV and WACC Methods of Valuation ・Valuation of AirThread Connections
Section B THEME: Comprehensive Exercise (M&A Utilizing Debts (LBO)) (Continued)
CASE: Valuation of AirThread Connections
