ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title Corporate Finance and Valuation
Code ACFI906
Coordinator Dr Y Otsubo
Finance and Accounting
Yoichi.Otsubo@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2023-24 Level 7 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 20

 5

         25
Timetable (if known)              
Private Study 125
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Examination Standard UoL penalties apply There is a resit opportunity Marked anonymously  2    70       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Group assignment Standard UoL penalties apply There is a resit opportunity Marked anonymously  0    30       

Aims

This module aims to:

Develop students’ knowledge of a range of topics and issues in corporate finance including capital budgeting, capital structure, dividend policy, raising long-term capital, corporate governance and international corporate finance;

Enable students to undertake independent research in corporate finance;

Enhance students’ employability through offering them solid understanding of crucial financial processes for an organisation (such as capital budgeting etc.);

Equip students with the skills to assess to collaborate in the context of teams, communicate to an audience theories relevant to corporate finance as well as the results of empirical research presented in academic papers.

Learning Outcomes

(LO1) Students will have a critical understanding of theoretical and empirical principles in capital budgeting as the basis for conducting a rigorous evaluation of associated scenarios.

(LO2) Students will be able to critically assess theoretical and empirical developments in capital structure topics and relate their findings to the contemporary business environment.

(LO3) Students will be able to critically evaluate theoretical and empirical aspects in dividend policy research, and to communicate findings effectively.

(LO4) Students will have a developed knowledge regarding the sources of financing for the firm within a constantly changing financial environment.

(LO5) Students will have in-depth understanding in concepts of corporate governance and their relationship with corporate performance.

(LO6) Students will have a critical understanding of the importance of internationalization/globalization for firms' international transactions and the implications for effective corporate governance.

(S1) Numeracy/computational skills - Problem solving. This skill will be developed through capital budgeting and project evaluation.

(S2) Communication (oral, written and visual) - Presentation skills – oral. Students will develop this skill through group review of journal articles and presentation.

(S3) Communication (oral, written and visual) - Presentation skills - written. Students will develop this skill through group review of journal articles and presentation.

(S4) Communication (oral, written and visual) - Following instructions/protocols/procedures. Students will develop this skill through discussions and reviews on international corporate finance.

(S5) Critical thinking and problem solving - Critical analysis. This skill will be developed through capital structure and dividend policy reviews and discussion.

Teaching and Learning Strategies

2 hour lecture x 10 weeks
1 hour seminar x 5 weeks
125 hours self-directed learning

Syllabus
 

Capital budgeting: theory and empirical evidence;

Capital structure and the cost of capital: theory and empirical evidence;

Dividend policy: theory and empirical evidence;

Raising long term capital I;

Raising long term capital II;

Corporate governance;

International corporate finance.

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.