FIN808M Corporate Finance in Central Europe

School of Business Administration in Karvina
Winter 2011
Extent and Intensity
1/2/0. 5 credit(s). Type of Completion: z (credit).
Guaranteed by
Ing. Pavlína Haltofová, Ph.D.
Department of Finance and Accounting – School of Business Administration in Karvina
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives (in Czech)
The purpose of this course is to develop an understanding of the rapidly evolving situation in the field of Corporate Finance in the former centrally planned economies of Central Europe. Students will be able to understand not only the major topics of Corporate Finance, but also to evaluate the influence of privatization processes on corporate culture in these countries, and to evaluate consequences of these processes.
Syllabus (in Czech)
  • Topics covered:
    1. Privatization Processes and Corporate Finance - An Overview
    Starting lines, current situation, ongoing integration of Central European capital markets, the necessity of the harmonization with other European countries, European corporate tax systems.
    2. Structure of Ownership in Privatized Firms
    Development of ownership during the 90th, a continuation of privatization of remaining strategic companies.
    3. Foreign Investments
    Structure of foreign investment in Central European countries, an incoming of foreign investors.
    4. Risk Concepts and Valuation, Hedging
    Risk statistics, normal distribution and its implications for standard deviation, risk during privatization processes.
    5. Capital Structure of Privatized Firms
    Influence of financial market in Central Europe on capital structure of the firms, financial leverage in privatized firms.
    6. Long-Term Financing in Central Europe
    Issuing Equity Securities to the Public - Initial Public Offering, Long-Term Debt, Leasing, European lease accounting.
    7. Short-Term Financing in Central Europe
    Tracing cash and net working capital, defining cash in terms of other elements, managing the collection and distribution of cash.
    8. Foreign Trade in Central European Countries
    International exposure of Central European firms.

Literature
    required literature
  • ROSS, SR, WESTERFIELD, RW, JORDAN, BD . Fundamentals of Corporate Finance 7th Edition,. Boston: McGraw-Hill, 2006. ISBN 0-07-319262-7. info
  • BLOCK, SB, GEOFFREY, GA . Foundations of Financial Management. Boston: McGraw-Hill,, 2005. ISBN 0-07-284229-6. info
  • BURKLEY, A., ROSS, SA., WESTERFIELD, RW., JAFFE, JF. Corporate Finance Europe. Cambridge: McGraw-Hill, 2004. ISBN 0-256-13473-1. info
    recommended literature
  • Various readings from The Economist, The Euro and other financial magazines. info
Language of instruction
Czech
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
The course is also listed under the following terms Winter 2007, Winter 2008, Winter 2009, Winter 2010.
  • Enrolment Statistics (recent)
  • Permalink: https://is.slu.cz/course/opf/winter2011/FIN808M