Finance and Corporate Governance (academic track) (5op)

Arviointiasteikko

0-5

Tavoitteet

In reference to the Intended Learning Outcomes (ILOs), students are expected to acquire the followings:

Knowledge and understanding-
KU1: EMPLOY THEORETICAL AND CONCEPTUAL KNOWLEDGE TO IDENTIFY AND ANALYZE BUSINESS PROBLEMS IN GLOBAL CONTEXTS. The students are able to understand, explore, discuss and analyze multiple theoretical aspects. They understand conceptual aspects, and their practical applications from the point of view of investors, and finance managers, in the field of corporate risk management, corporate finance, international finance, accounting information analysis, strategic management, accounting, financial institutions and markets, personal finance etc.

KU2: IDENTIFY AND PLACE INTO PRACTICE INFORMATION-BASED DECISION MAKING APPROACHES TO BUSINESS AND MANAGERIAL PROBLEMS.

The ability to make decisions and to draw conclusions from available information are fundamental skills of a manager. Managers analyze financial statements in the organizational
decision-making process. For an MNC, which constantly faces challenges of identifying financial risks, utilizes various methods for minimizing its exposure to risks, and designs risk management strategy etc. The programme provides several opportunities for students to analyze the above-mentioned scenario, in the light of the practical application of theoretical concepts, in different situations of global businesses contexts. Knowledge of data analysis techniques is a key aspect of the programme. Data analysis techniques, particularly quantitative techniques, in the field of financial analysis, investment analysis, financial forecasting etc. are extensively used in order to solve complex business problems.
Intellectual Skills: Information Management in Business- IS2: YOU ARE ABLE TO INTERPRET AND ANALYSE COMPLEX BUSINESS ISSUES FROM MULTIPLE PERSPECTIVES AND CRITICALLY REVIEW ACADEMIC LITERATURE AND OTHER RELEVANT INFORMATION SOURCES. The multicultural global business environment comprises various norms, values, traditions, beliefs, policies, rules, regulations, technical specifications and legal practices. Global business managers, besides understanding each of the above-mentioned aspects, must have skills to combine these aspects meticulously to take strategic business decisions in a constantly changing and unpredictable business world. Managers need to apply their skills to effective face situations of trade-offs, conflicts, and contradictions, for example, in the light of macro-economic and
political developments, regulatory amendments, and global business changes, and their fallouts on different stakeholders pertaining to the company. In order to solve the above complex and dynamic situations, the student can acquire necessary skills through the critical review of extant literature found in academic, practitioner and regulatory domains. The purpose of a critical literature review is to apply and deepen knowledge from an area of study and demonstrate
proficiency in reviewing, synthesizing, and critically analyzing the research literature for the topic area in question. Conducting a critical literature review is an appropriate skill for students, whose career goals include developing and sustaining expertise in a content area, and serving as a resource to other professionals in this topic area, as an integral part of their professional practice. Practical Skills:
Inter/Multicultural Competence- PS2: YOU ARE ABLE TO OPERATE EFFECTIVELY WITHIN A MULTICULTURAL TEAM ENVIRONMENT DEMONSTRATING TEAM-BUILDING AND INTERCULTURAL COMMUNICAT ION SKILLS.

The successful functioning and growth of modern organizations significantly depends on various dynamics of team-based projects. The programme provides opportunities for students to form multifunctional or cross-disciplinary teams to study, explore, and infer several business phenomena. Student switch roles between leader and follower even within the same project.

Sisältö

International financial markets, corporate risk management, taxation in cross-border operations, issues pertaining to corporate ethics and responsibility, sustainable finance, financial statement analysis, quantitative financial analysis, investment analysis, financial risk management, research methods in finance and investment, portfolio investment management, strategic management accounting, financial forecasting, financial institutions and markets, capital investment appraisal and real assets valuation, financial ratios analysis, cost of capital using relevant benchmarks and risk profiles of firms, financing choice in the light of taxation and bankruptcy costs, managerial incentives and motivations, corporate & entrepreneurial finance, dynamics of mergers and acquisitions (M&A), theories and practices of corporate governance, functioning of internal control mechanisms (e.g. internal audit, audit committees etc.) in the domain of overall audit process, understand functioning of external corporate governance mechanisms, executive compensation, dynamics of minority shareholders and expropriation of the firm value for private use, regulatory and legal aspects of corporate governance, behavioral finance, and the role and relevance of new technological developments taking place in the field of Finance and Corporate Governance such as Cryptocurrencies, Blockchains, Artificial Intelligence, Digitalization and Automation and FINTECH in general.

Oppimateriaalit

1. Alan C. Shapiro. Multinational Financial Management. Wiley.2. Mark Grinblatt and Sheridan Titman. Financial Markets & Corporate Strategy. McGraw-Hill/Irwin.3. Glen Arnold. Corporate Financial Management. Pearson.4. Stephen Lofthouse. Investment Management. Wiley.5. Jeff Madura. International Financial Management. Cengage Learning.6. D. Nordberg. Corporate Governance Principles and Issues. Sage Publications.7. Richard A. Brealey, Stewart C. Myers, and Franklin Allen, Principles of Corporate Finance, The McGraw-Hill/Irwin.8. Sloman & Hinde: Financial Management for Business, Prentice Hall.

Toteutuksen valinnaiset suoritustavat

Research proposal, review of the literature, presentation, project evaluation, thesis

Arviointikriteerit, tyydyttävä (1)

Excellent (5) KU1The student demonstrates his/her theoretical knowledge in detail and displays a clear command of the subject area. Central concepts have been defined with precision.
IS1The student shows an advanced ability to transform empirical data into applicable real-life situations. The ideas have significant value for implementation.
IS2 An explicit and focused situational analysis in which the objectives are clear and set correctly regarding the problem has been created.
Very good (4) KU1The student demonstrates his/her theoretical knowledge fluently and displays a good command and understanding of the subject area. Central concepts have been defined very well.
IS1The student shows competent ability to transform empirical data into applicable real-life situations. The ideas are worth implementing.
IS2 An explicit situational analysis has been created.
Good (3) KU1The student demonstrates his/her theoretical knowledge at a relatively clear level and displays a competent command of the subject area. Central concepts have been defined rather well.
IS1 The student shows adequate but general ability to transform empirical data into applicable real-life situations.
IS2 A relatively clear situational analysis has been created.
Satisfactory (2) KU1 The student demonstrates his/her theoretical knowledge at a reasonably clear level and has an obvious overall command of the subject area. Central concepts have been defined satisfactorily.
IS1 The student shows a basic ability to transform empirical data into applicable real-life situations.
IS2 A reasonably clear situational analysis has been created.
Sufficient (1) KU1 The student attempts to demonstrate his/her theoretical knowledge. However, command of the subject area remains unclear.
IS1 The student fails to show a convincing ability to transform empirical data into applicable real-life situations.
IS2 There is an attempt to create a situational analysis but based on it, the objectives and/or value remains unclear.

Esitietovaatimukset

First-year studies

Lisätiedot

Students understand how corporates, in general, and multinational companies (MNCs), in particular, manage their finance and investment related functions, in the global context. Students recognize multifarious issues pertaining to international financial markets; financial risk assessment, and their management by using principal financial techniques and tools; the association between capital structure and taxation, mergers and acquisitions (M&A); valuation of real assets etc. They also develop skills to use financial and accounting data and other relevant information in the ambit of the overall organizational decision-making process. Furthermore, students understand different accounting functions and learn how to apply diverse accounting techniques, methods and tools in different business situations. Furthermore, students appreciate the relevance of high-quality accounting data and explore different alternative methods of reflecting corporate financial performance. Students develop skills to make alternative interpretations of the accounting data and ratios, which help them in planning, strategizing, and decision-making process in the real-life business scenario. Above-mentioned concepts, methods, techniques, and tools are effective, when corporates act responsibly, objectively, and truthfully; and in this respect understanding core issues of corporate governance becomes highly significant. To understand managerial mindsets, behaviors, actions, and their resultant effects on firm-value, and various stakeholders, students learn several models of corporate governance (agency, stakeholders, resource-dependence etc.) in various corporate settings, such as Anglo-Saxon and continental European type. Many other relevant aspects related to the board of directors, shareholders (big, small, individual and institutional), managers, corporate ownership structure, internal and external corporate governance mechanisms etc. are discussed and debated. Students also understand various dynamics of corporate ethics and responsibility, sustainable finance and issues pertaining to corporate corruption.