Corporate finance

Etablissement : Faculté de Gestion, Economie & Sciences Masters

Langue : Anglais

Période : S3


The course describes the main principles of corporate finance and puts the emphasis on its usefulness from a managerial perspective.


We assume that you are comfortable with the issues covered in the bachelor program, in particular these related to: management economics, accounting, finance, financial reporting.


The course adopts a managerial perspective, with lectures supported by real-life case studies.


The aim of this course is to:



  • Develop a good understanding of the key topics in corporate finance, as well as the ability to understand and use financial concepts in the professional context.

  • Provide tools to analyze the financial relations between the company and the various stakeholders (shareholders, banks, public authorities, etc.) and to participate in the decision-making process.

  • Develop the ability to understand, critically analyze and evaluate the economic situation and its role in the business environment of the company.



1. Financial performance Analysis



  • What is financial analysis §

  • Corporate wealth analysis

  • Investment analysis

  • The nature of working capital

  • Capital expenditure analysis

  • Case studies


2. Investment decisions rules



  • Time value of money

  • Cost of capital

  • Measuring value creation

  • Investment criteria

  • Net Present Value

  • Internal Rate of Return

  • Case study


3. Capital structure and cost of capital



  • Company financing structure

  • Equity versus debt financing

  • Cost of Equity Model

  • Leverage, risk and cost of capital

  • Exercises