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DRPS : Course Catalogue : Business School : Business Studies

Undergraduate Course: Corporate Finance (BUST10012)

Course Outline
SchoolBusiness School CollegeCollege of Humanities and Social Science
Credit level (Normal year taken)SCQF Level 10 (Year 4 Undergraduate) AvailabilityAvailable to all students
SCQF Credits20 ECTS Credits10
SummaryThe course considers topics including corporate governance, debt policy, dividend policy, corporate restructuring, market efficiency and behavioural biases in corporate decision making.
Course description The course aims to introduce students to current research on the chosen topics and to develop skills of understanding and analysis. We consider certain aspects of company financing and financial management believed to be of academic interest and practical importance, such as capital raising, capital structure decisions, payout policy, mergers and acquisitions, the effects of conflicts between different types of stakeholders within the firm and corporate ownership and governance issues. We also touch upon a relatively new aspect, behavioural corporate finance, which integrates human judgement and biases into the study of corporate decision making.

Corporate Governance
Debt Policy
Corporate Restructuring
Innovative Learning Week
Dividend Policy and Share Repurchases
Behavioural Corporate Finance
Market Efficiency: The debate

Student Learning Experience
The course consists of ten two-hour classes in Semester Two.The classes will combine lecturing and, it is hoped, discussion. Students will be pointed towards or given two or three papers in advance to read or at least look at before the relevant seminar. These papers are starred in the programme.

The learning occurs primarily through reading and thinking about the papers or chapters of books recommended. Some of the papers employ algebra in presenting arguments, and the empirical studies often use statistical analysis, but you do not need an advanced knowledge of mathematics or statistics to understand them. The reading is supported by the programme of ten lectures. An overview of each topic is presented and two or three papers are reviewed in some detail. Students are required to write an assessed essay, which enables feedback to be given on understanding of the topic and essay organisation.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Students MUST have passed: Principles of Finance (BUST08003) OR Introduction to Corporate Finance (BUST08030)
Prohibited Combinations Other requirements None
Additional Costs None
Information for Visiting Students
Pre-requisitesVisiting students should have at least 3 Business Studies courses (including at least one Finance course) at grade B or above (or be predicted to obtain this). We will only consider University/College level courses.
High Demand Course? Yes
Course Delivery Information
Academic year 2017/18, Available to all students (SV1) Quota:  None
Course Start Semester 2
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 200 ( Lecture Hours 20, Summative Assessment Hours 2, Revision Session Hours 2, Programme Level Learning and Teaching Hours 4, Directed Learning and Independent Learning Hours 172 )
Assessment (Further Info) Written Exam 70 %, Coursework 30 %, Practical Exam 0 %
Additional Information (Assessment) Coursework 30% - individual essay (max 2000 words).
Degree examination 70%.
Feedback Generic feedback on your coursework, together with individual marks, will be available on Learn 15 working days from the submission date. You can also look at your group feedback at the Business School Undergraduate Reception (outside Room 1.11, Business School, 29 Buccleuch Place) and take away a copy of the feedback form, but you will not be able to take away the original piece of coursework, as it may be required by the Board of Examiners.

Your examination marks will be posted on Learn (together with generic feedback and examination statistics) as soon as possible after the Boards of Examiners' meeting (normally early-mid June). During the summer months (i.e. mid/end June - end August), you may come to the Business School Undergraduate Reception (outside Room 1.11, Business School, 29 Buccleuch Place) to look at your examination scripts. Note that you will not be able to remove any examination scripts from the UG Office as they may be required by the Board of Examiners.
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S2 (April/May)Corporate Finance2:00
Learning Outcomes
On completion of this course, the student will be able to:
  1. Understand and discuss critically arguments and debates concerning the topics covered.
  2. Understand and discuss critically theoretical and empirical research in corporate finance.
  3. Understand and critically evaluate the financing arrangements of companies.
  4. Understand advanced methods of research in finance, for example analysis of numerical data.
Reading List
A reading list will be provided for each session at the start of the course.
Additional Information
Graduate Attributes and Skills Cognitive skills:
On completion of the module, students should have developed their ability to
(a) understand complex lines of argument and reasoning of the sort found in journal papers in corporate finance;
(b) write answers to essay-style questions.
Course organiserMs Yue Liu
Tel: (0131 6)50 4309
Course secretaryMiss Jen Wood
Tel: (0131 6)50 8335
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