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Financial Management

Module name (EN):
Name of module in study programme. It should be precise and clear.
Financial Management
Degree programme:
Study Programme with validity of corresponding study regulations containing this module.
International Management, Master, ASPO 01.10.2012
Module code: MAIM-231
The exam administration creates a SAP-Submodule-No for every exam type in every module. The SAP-Submodule-No is equal for the same module in different study programs.
Hours per semester week / Teaching method:
The count of hours per week is a combination of lecture (V for German Vorlesung), exercise (U for Übung), practice (P) oder project (PA). For example a course of the form 2V+2U has 2 hours of lecture and 2 hours of exercise per week.
4V (4 hours per week)
ECTS credits:
European Credit Transfer System. Points for successful completion of a course. Each ECTS point represents a workload of 30 hours.
Semester: 2
Mandatory course: yes
Language of instruction:
Written exam (120 minutes / can be repeated semesterly)

[updated 30.01.2020]
Applicability / Curricular relevance:
All study programs (with year of the version of study regulations) containing the course.

DFMM-MAIM-231 Management Sciences, Master, ASPO 01.10.2018 , semester 1, optional course
MAIM-231 (P420-0264) International Management, Master, ASPO 01.10.2012 , semester 2, mandatory course
MAIM-231 (P420-0264) International Management, Master, ASPO 01.10.2016 , semester 2, mandatory course
MAIM-231 (P420-0264) International Management, Master, ASPO 01.10.2020 , semester 2, mandatory course
WIMAScWPF-W10 (P450-0223) Industrial Engineering, Master, ASPO 01.10.2014 , semester 3, optional course
Workload of student for successfully completing the course. Each ECTS credit represents 30 working hours. These are the combined effort of face-to-face time, post-processing the subject of the lecture, exercises and preparation for the exam.

The total workload is distributed on the semester (01.04.-30.09. during the summer term, 01.10.-31.03. during the winter term).
60 class hours (= 45 clock hours) over a 15-week period.
The total student study time is 180 hours (equivalent to 6 ECTS credits).
There are therefore 135 hours available for class preparation and follow-up work and exam preparation.
Recommended prerequisites (modules):
Recommended as prerequisite for:
Module coordinator:
Prof. Dr. Matthias Gröhl
Prof. Dr. Matthias Gröhl
Prof. Dr. Andy Junker
Prof. Dr. Timo Defren

[updated 07.01.2016]
Learning outcomes:
Corporate Finance:
Sustainable and value-oriented corporate management and business valuation achieves a special level of importance, especially in the age of digitalization and globally exposed competition. Gaining the respective competences in this Master´s degree programme in its broad outlines is the overarching goal for the students of this course.
Prices traded on the financial markets, young companies valued by investors up to global corporations must withstand holistically approached valuations in order to forecast future developments and business values in a sustainable way or to assess entire strategies in a meaningful way. Traditional valuation measures, however, are now subject to a half-life in this respect. Handbooks and manuals can only help to a limited extent in the valuation of rapidly developing technologies and new conditions on the markets, as risks and opportunities have to be determined in a new way.
Students therefore learn to analyze (digital) business models and strategies holistically in order to derive assessments and business analysis estimates based on them. This goes beyond getting to know and implementing key well-known concepts of company valuation. Relevant keywords of this teaching unit: e.g. Financial and Business Analysis, Capital Market Theories, CAPM, FCF, Beta Factor, Startup Evaluations and Evaluation of New Technologies and Innovations.
Building on the knowledge of corporate finance and investment, this course enables students to evaluate real and current examples in order to form the link between the objectives of strategic (financial) management, e.g. from the perspective of the Board of Directors of a company, as well as the position of a company on the capital markets, or by investors’ perception.
In addition, students are able to develop key components of a company´s business plan (including financial and liquidity planning) and, based on this, make recommendations for decision makers, and corporate value preservation or increase.
Financial Risk Management:
After successfully completing this module, students will be able to interpret the general concept of risk and distinguish it from the concept of financial risk. In addition, they will be able to map the risk management process.
Students will be able to:
- present and evaluate the different types of stock options and assess their applicability,
- describe and evaluate interest rate futures (long and short) and assess their applicability,
- describe FX forwards with regard to the essential influencing factors and calculate them in real cases,
- explain interest rate swaps and currency swaps with regard to their structure and areas of application, and calculate them in specific cases,
- explain interest rate limit contracts with regard to their structure and areas of application, and calculate them specific cases.

[updated 09.03.2020]
Module content:
Corporate Finance:
1 Basics of Corporate Finance
2 Digitalization and new business models
3 Price versus business valuation
4 Basics of business valuation methods
5 Case studies and project team work
Financial Risk Management
1 Fundamentals of Financial Risk Management
2 Options
3 Futures
4 Currency Exchange Hedging
5 Swap Agreements
6 Interest Rate Agreements  

[updated 09.03.2020]
Teaching methods/Media:
Corporate Finance:
• Real case(s) (studies) (project based team work and cooperation with companies)
• Exercises, research and analysis work prepared by sub-teams
Financial Risk Management:
Lecture with case studies, exercises and research work.

[updated 09.03.2020]
Recommended or required reading:
Corporate Finance:
- Current business and company information (depends on current project or case studies)
- Most recent case studies and statistics
- Most recent relevant papers
•Berens, W.: Due Diligence bei Unternehmensakquisitionen, akt. Aufl., Stuttgart.
•Brealey, R. A./Myers, S. C.: Principles of corporate finance, akt. Aufl., New York.
•Bruner, R. F./Eades, K. M./Schill, M. J.: Case studies in finance: managing for corporate value creation, akt. Aufl., Boston.
•Damodaran, A.,Corporate Finance: Theory and Practice, akt. Aufl., Hoboken/New Jersey.
•Damodaran, A., Valuation: Security Analysis for Investment and Corporate Finance, akt. Aufl., Hoboken/New Jersey.
•Damodaran, A.: Applied corporate finance, akt. Aufl., Hoboken/New Jersey.
•Ernst, D.: Applied international corporate finance, akt. Aufl., München.
•Fernandez, P., Valuation Methods and Shareholder Value Creation, akt. Aufl., (Academic Press).
•Gardner, C., The Valuation of Information Technology: A Guide for Strategy Development, Valuation, and Financial Planning (Financial Management Book 2), akt. Aufl., Hoboken/New Jersey.
•Hommel, M./Dehmel, I.: Unternehmensbewertung case by case, akt. Aufl., Frankfurt.
•Müller-Stewens, G./Kunisch, S./Binder, A.: Mergers & Acquisitions: Analysen, Trends und Best Practices, Stuttgart 2010.
•Poland, S., Founder’s Pocket Guide: Startup Valuation, akt. Aufl.
•Ross, S. A./Westerfield, R./Jaffe, J., Modern Financial Management, akt. Aufl., Boston.
Financial Risk Management:
Albrecht, P. / Maurer, R.: Investment- und Risikomanagement, latest edition, Schaeffer-Poeschel, Stuttgart.
Allen, S: Financial Risk Management, John Wiley & Sons, latest edition, New Jersey.
Bloss, M. / Ernst, D.: Derivate, latest edition, München und Wien.
Bösch, M.: Derivate, München 2011.
Eilenberger, G.: Währungsrisiken, Währungsmanagement und Devisenkurssicherung  von Unternehmungen, latest edition, Frankfurt a.M..
Eller, R.(Hrsg.): Handbuch derivativer Instrumente, latest edition, Stuttgart.
Geyer, C. / Uttner, V.: Praxishandbuch Börsentermingeschäfte, latest edition, Wiesbaden.
Heidorn, T.: Finanzmathematik in der Bankpraxis, latest edition, Wiesbaden.
Hull, J. C.: Options, Futures and other Derivatives, latest edition, New Jersey.
Kruse, S.: Aktien-, Zins- und Währungsderivate, latest edition, Springer Gabler, Wiesbaden.
Staroßom, H.: Corporate Finance Teil 1: Grundlagen, Zins- und Währungsmanagement, latest edition, Springer Gabler, Wiesbaden.
Uszczapowski, I. / Müller, H.G.: Optionen und Futures verstehen, latest edition, München.

[updated 09.03.2020]
[Tue Jul 16 12:14:30 CEST 2024, CKEY=ifma, BKEY=imm2, CID=MAIM-231, LANGUAGE=en, DATE=16.07.2024]