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Advanced International Corporate Finance - MAN00146M

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  • Department: The York Management School
  • Module co-ordinator: Dr. Agnieszka Trzeciakiewicz
  • Credit value: 20 credits
  • Credit level: M
  • Academic year of delivery: 2024-25
    • See module specification for other years: 2023-24

Module will run

Occurrence Teaching period
A Semester 2 2024-25

Module aims

The aim of this module is to give students a thorough theoretical and practical guide to international corporate finance. Particular attention is given to international aspects of investment and financing decisions in the context of the global economy and international trade with consideration of risks originating from various economic, political, and institutional environments. The module develops with the discussion of theories and empirical evidence related to investment, financing, and risk management policies, with a consideration of ethical, environmental, social and governance issues.

Module learning outcomes

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

Subject content

  • Perform and solve financial problems involving advanced international corporate finance.

  • Assess and evaluate different options available for financing the firm.

  • Identify and justify apposite methods for making corporate finance decisions in an international context.

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 finance calculations and/or estimations.

  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

This module considers the role of corporate finance in international trade and the global economy. It examines theories and empirical evidence related to:

  • International investment and capital budgeting

  • International financing

  • Multinational cost of capital and capital structure

  • Risk management with financial derivatives

  • International governance and control

Assessment

Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Closed exam : An exam using both discursive elements and applying different financial tools		 N/A 70
Essay/coursework
Essay : An assignment project involving the collection of data from Refinitiv.		 N/A 30

Special assessment rules

None

Reassessment

Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Essay : Assignment - RESIT 0 Advanced Internal corporate Finance		 N/A 30
Closed/in-person Exam (Centrally scheduled)
Closed Exam : Exam resit - Advanced international corporate finance		 N/A 70

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

Core-texts:

Madura, Jeff. 2015. International Financial Management. United States: Cengage Learning.

Resnick, Bruce G.., Brean, Donald J. S.., Eun, Cheol S.. International Financial Management: Canadian Perspectives. Canada: McGraw-Hill Ryerson, Limited, 2008.

Jacque, Laurent L.. 2014. International Corporate Finance: Value Creation with Currency Derivatives in Global Capital Markets. United Kingdom: Wiley.

Journal articles:

Agénor, P.R., Jackson, T., Kharroubi, E., Gambacorta, L., Lombardo, G. and Silva, L.A.P.D., 2021. Assessing the gains from international macroprudential policy cooperation. Journal of Money, Credit and Banking, 53(7), pp.1819-1866.

Ding, W., Levine, R., Lin, C. and Xie, W., 2021. Corporate immunity to the COVID-19 pandemic. Journal of Financial Economics, 141(2), pp.802-830.

Hanlon, M., Maydew, E.L. and Thornock, J.R., 2015. Taking the long way home: US tax evasion and offshore investments in US equity and debt markets. The Journal of Finance, 70(1), pp.257-287.

Jeanneret, A., 2016. International firm investment under exchange rate uncertainty. Review of Finance, 20(5), pp.2015-2048.

Kroencke, T.A., Schindler, F. and Schrimpf, A., 2014. International diversification benefits with foreign exchange investment styles. Review of Finance, 18(5), pp.1847-1883.

Liang, H. and Renneboog, L., 2017. On the foundations of corporate social responsibility. The Journal of Finance, 72(2), pp. 853-910.

McBrady, M. R., Mortal, S., Schill, M. J. 2010. Do Firms Believe in Interest Rate Parity?, Review of Finance, Volume 14 (4): 695–726.

Opie, W. and Riddiough, S.J., 2020. Global currency hedging with common risk factors. Journal of Financial Economics, 136(3), pp.780-805.


The information on this page is indicative of the module that is currently on offer. The University is constantly exploring ways to enhance and improve its degree programmes and therefore reserves the right to make variations to the content and method of delivery of modules, and to discontinue modules, if such action is reasonably considered to be necessary by the University. Where appropriate, the University will notify and consult with affected students in advance about any changes that are required in line with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.