UCL School of Management

Module Fact Sheet

MSING070: Advanced Corporate Finance

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This is a past version of this module for MSING070 17/18.
Click here for the current version.
Level
Masters
Prerequisites
Yes, MSING064 Corporate Finance.
Eligibility
MSc Finance students only
Terms
2
Delivery method
3-hour lecture (x 10 weeks)
Assessment
Online exam 20% and Group coursework 80%

Course overview

This module builds upon the theory within the core module Corporate Finance delivered during Term 1. The objective is to apply the specific knowledge acquired in the Corporate Finance module to develop strategies relating to typical organisational challenges and issues related to the acquisition and utilisation of financial resources, particularly in the context of international capital markets.

A specific emphasis is the process, objectives and proceeds of a) an IPO and b) a bond issue.

It will apply knowledge about the cost of capital and asset valuation to a real Leveraged Buy Out and develop further on alternative valuation techniques such as multiples or ratios as used in divestitures, acquisitions or mergers.

Learning outcomes

  • Understand how international capital markets work.
  • Have clarity of how an IPO or a bond issue works.
  • Understand the pros and cons of issuing different financial instruments and how this selection impacts the cost of capital and company value.
  • Perform company valuation using multiples and comparable corporations. 
  • Being able to define the financial strategy of a company.

Topics covered

  • A variety of financing instruments for corporate short and long term financing needs
  • Financing through Venture Capital Companies and Private Equity funds
  • The IPO process including pricing
  • Raising debt through a bond issue including pricing
  • The dividend policy
  • Company valuation through DCFs and multiples analysis
  • Changes in the OCS and its impact on company valuation (if time allows it)

Assessment summary

Online exam 20% and Group coursework 80%

Essential reading

Book chapters to be assigned.

Past versions of this module

MSIN0109 18/19

MSING070 17/18

Last updated Wednesday, 26 June 2019