Corporate Finance & Governance - MAN00139M

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  • Department: The York Management School
  • Credit value: 20 credits
  • Credit level: M
  • Academic year of delivery: 2023-24

Module will run

Occurrence Teaching period
A Semester 2 2023-24

Module aims

This module introduces the learner to corporate finance and corporate governance. We will consider many of the financial decisions faced by a modern firm including should the firm raise equity or use debt, when should the firm invest, what is the time value of money and whether the firm should pay dividends. We will consider these and other questions both theoretically and in light of the professional responsibilities of the modern financial manager. These discussions are undertaken for a diversity of corporate forms including public, private and other third sector entities.

Module learning outcomes

After successful completion of the module students will be able to:

Subject content

  1. Critically assess the importance of corporate finance in a contemporary context

  2. Develop a questioning and evaluative understanding of tools and instruments employed in corporate finance.

  3. Comprehend the professional role of the financial manager within the firm.

  4. Calculate and solve problems using investment appraisal tools.

  5. Explain, summarise and evaluate the rationale for corporate finance decisions using both theoretical and empirical tools.

  6. Comprehend and apply key corporate governance theories and practice

Academic and graduate skills

  1. Advanced subject specific knowledge and understanding

  2. Cognitive (thinking) skills: through self-study and assessments

  3. Analytical skills required to undertake corporate finance calculations and/or estimations and comprehend corporate governance decision making .

  4. Communication: via written assignments, online discussion boards, virtual study groups and tutorials;

  5. Ability to conduct research into financial issues individually through data collection, analysis, synthesis and reporting.

Module content

  • Introduction of elements of corporate finance (HCRW & J Chapter 1)

  • Corporate Governance (HCRW & J Chapter 2)

  • Financial Statement Analysis and Discounted Cash Flow Valuation (HCRW & J Chap

  • ters 3 and 4)

  • Net Present Value and Other Investment Rules (HCRW & J Chapters 6 and 7)

  • Short and Long Term Financing: An introduction (HCRW & J Chapters 14, 26, 27)

  • Equity and Debt Financing (HCRW & J Chapters 15, 16)

  • Capital Structure: Basic Concepts, limits to the use of debt and valuation and capital budgeting for the levered firm. (HCRW & J Chapters 18, 19, 20)

  • Public sector debt and governmental funding.

  • Dividends and other Payouts. (HCRW & J Chapter 21)

Indicative assessment

Task % of module mark
Closed/in-person Exam (Centrally scheduled) 70
Essay/coursework 30

Special assessment rules

None

Indicative reassessment

Task % of module mark
Closed/in-person Exam (Centrally scheduled) 70
Essay/coursework 30

Module feedback

Feedback will be given in accordance with the University Policy on feedback in the Guide to Assessment as well as in line with the School policy.

Indicative reading

Hillier, D., Clacher, I., Ross, S., Westerfield, R. & Jordan, B., (2021), Fundamentals of Corporate Finance, 4th European Edition McGraw Hill. HCRW & J

Tricker, B. (2019), Corporate Governance: Principles, Policies and Practices,4th Edition. Oxford: Oxford University Press

If you would like to consider other textbooks, there are a range of other finance textbooks which consider some of this material covered in this unit. These textbooks include the following.

Arnold, G. and Lewis, D. (2019) Corporate Financial Management 6th Edition, Pearson

Pike, R. and Neale, B. (2015) Corporate Finance and Investment. 8th Edition.

Watson, D. & Head, A. 2019, Corporate Finance: Principles and Practice, 8th Edition, Pearson.