Postgraduate Course: Entrepreneurial Finance (CMSE11304)
Course Outline
| School | Business School |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
| SCQF Credits | 15 |
ECTS Credits | 7.5 |
| Summary | The course is a new course being developed as a core course for the proposed MSc in Entrepreneurship and Innovation. It is intended to provide students with a deep understanding of issues associated with the financing of innovation, particularly in new and growing ventures. |
| Course description |
Aims, Nature, Context
The capital market for financing such entrepreneurs ¿ and private equity investing more generally ¿ differs fundamentally from capital markets considered in standard corporate finance: First, start-ups are young, mostly unprofitable companies, with short operating histories and little capital. Young firms face exceptionally high degrees of uncertainty, constraining financing and creating difficult decisions about financial contracting, keeping in mind that today¿s financial decisions may have implications for future opportunities and choices. Second, available capital markets for privately held companies are predominantly ¿deal markets¿ where terms and valuations are negotiated on a case-by-case basis, where investors can add value or are actively involved with the companies they finance.
Throughout the course, we emphasise financial opportunities and decisions of entrepreneurs and private equity investors investing in these entrepreneurs. The programme is broadly structured into four parts. The first four modules cover the basic ideas, tools and techniques which, once mastered, will greatly facilitate work throughout the remaining modules and group project. We then go on to consider the start-up, then the on-going company in operation and finally possible exit routes.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Course Delivery Information
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| Academic year 2016/17, Not available to visiting students (SS1)
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Quota: None |
| Course Start |
Semester 1 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
150
(
Lecture Hours 20,
Seminar/Tutorial Hours 4,
Summative Assessment Hours 73,
Other Study Hours 50,
Programme Level Learning and Teaching Hours 3,
Directed Learning and Independent Learning Hours
0 )
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| Additional Information (Learning and Teaching) |
Independent preparatory reading for lectures
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| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
Coursework 100%
-Group Case Study Analysis 50%
-Individual Report 50% |
| Feedback |
Group project: assessment will be based on demonstrating the depth, relevance and clarity of the research and how well the findings are analysed in terms of concepts and theories of entrepreneurship. The group project should be presented in consultancy report format, with an executive summary, a clear introduction, a statement of objectives, methods used, analyses, conclusions and recommendations. A first class project would demonstrate clear understanding of the theoretical and practical issues, and an ability to cogently analyse and communicate the results of that analysis, within an overall professional standard of report presentation. References should be in Harvard format.
Individual Report: the grading of the individual essay is based on a well-constructed and organised piece of work that presents relevant evidence from credible sources and draws upon relevant entrepreneurial theory and course content. A first class assignment would identify appropriate and topical material for discussion, refer to a wider range of literature, show evidence of original thinking going beyond mere recitation or paraphrase of the material referenced, and overall demonstrate a clear and strong line of argument throughout.
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| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Analyse critically an organisation's financial status as a value creation process
- Analyse and discuss critically how value creation is not a one-off activity, but rather a continuous cycle of incremental improvements across a wide range of business activities;
- Understand and discuss critically how entrepreneurial value creation can be described in four comprehensive stages: value creation, value measurement, value enhancement, and value realisation;
- Critically assess how strategic management, financial management, and entrepreneurship combine to simultaneously examine business topics from different perspectives to better encapsulate actual entrepreneurial practices.
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Reading List
Klonowski D (2015), Strategic Entrepreneurial Finance: From Value Creation to Realization, Routledge Oxon UK.
Alhabeeb M. J. (2015) Entrepreneurial Finance: Fundamentals of Financial Planning and Management for Small Business Hoboken NJ
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Additional Information
| Graduate Attributes and Skills |
Knowledge and Understanding:
Analyse critically an organisation's financial status as a value creation process;
Analyse and discuss critically how value creation is not a one-off activity, but rather a continuous cycle of incremental improvements across a wide range of business activities;
Understand and discuss critically how entrepreneurial value creation can be described in four comprehensive stages: value creation, value measurement, value enhancement, and value realisation;
Critically assess how strategic management, financial management, and entrepreneurship combine to simultaneously examine business topics from different perspectives to better encapsulate actual entrepreneurial practices.
Cognitive and Subject Specific Skills:
Relate entrepreneurial finance to broader concepts of entrepreneurship and innovation covered in other courses;
Establish how strategic deliberations maximise the entrepreneurial firm¿s chances of making the right business decisions for the future, enable the firm to manage its available financial and non-financial resources in the most optimal manner, and ensure that the necessary capital is secured to progress the development of the firm to its desired development level;
Integrate the concepts discussed in the course and relate them to real-world organisational scenarios.
Transferable Skills:
Successfully undertake independent reading and enquiry;
Articulate convincing arguments in writing;
Engage in active debate about key topics and issues in case analysis;
Analyse and interpret company financial histories. |
| Keywords | EI-EF |
Contacts
| Course organiser | Dr Alessandro Rosiello
Tel: (0131 6)50 8246
Email: Alessandro.Rosiello@ed.ac.uk |
Course secretary | Mrs Yvonne Sanderson
Tel: (0131 6)51 5333
Email: Yvonne.Sanderson@ed.ac.uk |
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