VŠTE:NE_FIP_s Finance podniku – pro magister - Course Information
NE_FIP_s Finance podniku – pro magisterské studium
Institute of Technology and Business in České Budějovicewinter 2023
- Extent and Intensity
- 2/2/0. 5 credit(s). Type of Completion: zk (examination).
- Teacher(s)
- doc. Ing. Simona Hašková, Ph.D. (seminar tutor)
Ing. Róbert Kuchár, Ph.D. (seminar tutor) - Guaranteed by
- doc. Ing. Simona Hašková, Ph.D.
School of Expertness and Valuation – Rector – Institute of Technology and Business in České Budějovice
Supplier department: Department of Corporate Finances – Deputy Director of Department for Research, Development and Creative Activity – School of Expertness and Valuation – Rector – Institute of Technology and Business in České Budějovice - Timetable of Seminar Groups
- NE_FIP_s/NE4: Sun 1. 10. 8:00–9:30 N121, 9:40–11:10 N121, 11:25–12:55 N121, Sat 21. 10. 13:05–14:35 B1, 14:50–16:20 B1, Sun 3. 12. 8:00–9:30 B1, 9:40–11:10 B1, 11:25–12:55 B1, S. Hašková, R. Kuchár
NE_FIP_s/P01: Fri 14:50–16:20 N121, R. Kuchár
NE_FIP_s/S01: Fri 16:30–18:00 N121, R. Kuchár - Course Enrolment Limitations
- The course is also offered to the students of the fields other than those the course is directly associated with.
- fields of study / plans the course is directly associated with
- Business Administration (programme VŠTE, N_PE) (2)
- Expertness (programme VŠTE, N_ZN) (2)
- Course objectives supported by learning outcomes
- The course focuses on selected topics of advanced financing of a company at the time of maturity of its life cycle.
- Learning outcomes
- After completing the course, the student:
• applies a suitable pay-out policy,
• understands the reinvestment of the company's internal resources,
• can secure the necessary foreign capital on the relevant capital markets,
• can secure own capital on the relevant capital markets,
• can manage the value of the company, when the top indicator is FCFF, FCFE, EVA Equity, EVA Entity,
• can determine the financial plan of the company, including the growth constant,
• can determine the level of systematic risk,
• can determine the risk premium,
• appreciate the option,
• appreciate the bonds,
• appreciate the shares of the company,
• understands efficient markets and behavioral finance,
• manages the risks of corporate finances,
• compiles a financial plan for the company,
• integrates sensitivity analysis as a support tool for financial decision-making - Syllabus
- Lectures
- 1. Sensitivity analysis in the modern concept of corporate finance. Shares and their valuation methods.
- 2. Bonds and their valuation methods. Call options, put options.
- 3. Valuation of options – binomial method. Option pricing - Black-Scholes method.
- 4. Risk and opportunity cost of equity capital. Systematic Risk - Damodaran.
- 5. Risk Premium – Damodaran. Risk management.
- 6. Determination of portfolio structure. International risk management.
- 7. Efficient markets, behavioral finance. Dividend policy, pay-out policy.
- 8. Debt policy of the company. Credit risk and the importance of indebtedness.
- 9. Financing of the company from internal sources. Enterprise value is measured based on enterprise performance (EVA and others).
- 10. Management of enterprise value with the top indicator of FCFF. Enterprise value management with a top FCFE indicator.
- 11. Management of enterprise value with the top indicator EVA Entity. Management of enterprise value with the top indicator EVA Equity.
- 12. Short-term financial plan of the company. Long-term financial plan of the company.
- 13. Gordon's growth constant. Unresolved issues of corporate finance
- Seminars
- 1. Sensitivity analysis on a specific example.
- 2. Valuation of shares.
- 3. Valuation of bonds.
- 4. Valuation of options – binomial method.
- 5. Valuation of options – Black-Scholes method.
- 6. Determining alternative costs of equity capital – modular method.
- 7. Determination of risk premium, determination of systematic risk – Damodaran.
- 8. Determination of portfolio structure.
- 9. Evaluation of business financing alternatives.
- 10. Determination of enterprise value using discounted FCFE and FCFF.
- 11. Determination of enterprise value using discounted EVA Entity and EVA Equity.
- 12. Determination of the company's long-term financial plan, including Gordon's growth constant.
- 13. Economic result in the approval procedure.
- Literature
- required literature
- BREALEY, R. A., S. C. MYERS a F. ALLEN, 2014. Teorie a praxe firemních financí. 2., aktualiz. vyd. Brno: BizBooks. ISBN 978-80-265- 0028-5.
- MAREK, P., 2009. Studijní průvodce financemi podniku. Praha: Ekopress. ISBN 978-80-86929-49-1.
- VOCHOZKA, M., 2011. Metody komplexního hodnocení podniku. Praha: Grada. ISBN 978-80-247-3647-1.
- KALOUDA, F., 2017. Finanční analýza a řízení podniku. 3. rozš. vyd. Plzeň: Vydavatelství a nakladatelství Aleš Čeněk, s.r.o. ISBN 978-80- 7380-646-0.
- MAŘÍK, M., 2011. Metody oceňování podniku: proces ocenění - základní metody a postupy. 3., upr. a rozš. vyd. Praha: Ekopress. ISBN 978-80-86929-67-5.
- KISLINGEROVÁ, E., 2010. Manažerské finance. 3., přeprac. a rozš. vyd. Praha: C. H. Beck. ISBN 978-80-7400-194-9.
- SCHOLLEOVÁ, H. a P. ŠTAMFESTOVÁ, 2015. Finance podniku. Sbírka řešených příkladů a otázek. Praha: Grada. ISBN 978-80-247- 55441
- Forms of Teaching
- Lecture
Seminar
Tutorial - Teaching Methods
- Frontal Teaching
Group Teaching - Cooperation
Brainstorming
Critical Thinking
Individual Work– Individual or Individualized Activity
- Student Workload
Activities Number of Hours of Study Workload Daily Study Combined Study Continous test 2 2 Preparation for the Mid-term Test 26 26 Preparation for Seminars, Exercises, Tutorial 20 30 Preparation for the Final Test 26 52 Final exam 4 4 Attendance on Lectures 26 Attendance on Seminars/Exercises/Tutorial/Excursion 26 16 Total: 130 130 - Assessment Methods and Assesment Rate
- Test – mid-term 30 %
Test – final 70 % - Exam conditions
- To complete the subject, it is necessary to achieve a total of at least 70% in the mid-term and final assessment under the conditions set out below. Overall classification of the subject, i.e. points for the final assessment + points from the mid-term assessment: A 100 – 90, B 89.99 – 84, C 83.99 – 77, D 76.99 – 73, E 72.99 – 70, FX 69.99 - 30, F 29.99 - 0. A present student is required to attend contact classes, i.e. everything except for lectures, with a mandatory 70% attendance. If attendance is not met, the student will automatically be graded "-".
- Language of instruction
- Czech
- Teacher's information
- Participation in classes in all forms is dealt with by a separate VŠTE internal standard (Student Attendance Records at VŠTE). For full-time students, 70% attendance at the seminars is mandatory.
Students with an individual study plan will take only the 100-point final test in the exam period from the subject of Business Finance. However, students are obliged to contact the teacher immediately after the approval of the individual study plan (ISP). If the student does not do so, their ISP will not be taken into account.
In case of any questions, they can contact the teacher of the seminar group or the course guarantor
Information on testing for full-time students: 1. continuous test max. number of achievable points 30, 2. final test (max. number of achievable points 70), 3. points for activity within seminars for answering/solving questions/tasks)
Test information for combined study students: 1. intermediate test max. number of achievable points 30, 2. final test includes the possibility to get a maximum of 70 points in the final test, 3. as part of the mid-term test, bonus points can be obtained for solving a bonus question/example.
- Enrolment Statistics (winter 2023, recent)
- Permalink: https://is.vstecb.cz/course/vste/winter2023/NE_FIP_s