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Įmonių finansai (FIN117)

Annotation

This is a follow-up financial management course, which covers both theoretical and practical decisions of corporate financing, determination of cost of capital, investment project and corporate valuation. This course examines the main financial decisions related to valuation of securities (stocks, bonds, options) and investment projects with respect to their risk. The course focuses on the impact of financial markets on company‘s value and its financing decisions.

Aims of the course

The main aim of this course is to provide theoretical knowledge about models and methods of corporate financial management and practical skills to apply this knowledge to real situations by analysing and evaluating strategic financial corporate decisions.

Learning outcomes

  • Calculate weighted average cost of capital (WACC) of a corporation, to take taxes into account.
  • Compare different WACC calculation methods.
  • Calculate and interpret cost of debt, cost of equity, beta, cost of capital of an investment project.
  • Describe and compare net income payout methods, dividend policy, share repurchases.
  • Explain the application of option theory to investment project valuation.
  • Overview the process of corporate M&As.
  • Apply and compare main corporate valuation methods (discounted cash flows, real options, relative valuation).
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