FIN808S Corporate Finance in Central Europe

School of Business Administration in Karvina
Winter 2007
Extent and Intensity
1/2/0. 5 credit(s). Type of Completion: z (credit).
Guaranteed by
Ing. Michaela Roubíčková, 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
  • POLOUČEK, S. Reforming the Financial Sector in Central European Countries. Houndmills, Basingstoke, Hampshire: Palgrave Mac, 2004. ISBN 1-4039-1546-6. info
  • BONIN, JP., MIZSEI, K., SZÉKELY, IP., WACHTEL, P. Banking in Transition Economies. Developing Market Oriented Banking Sectors in Eastern Europe. Cheltenham, UK, Northampton, MA, USA: Edward Elg, 1998. ISBN 1 85898 604 4. 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 1990, Winter 1991, Winter 1992, Winter 1993, Winter 1994, Winter 1995, Winter 1996, Winter 1997, Winter 1998, Winter 1999, Winter 2000, Winter 2001, Winter 2002, Winter 2003, Winter 2004, Winter 2005, Winter 2006, Winter 2008, Winter 2009, Winter 2010, Winter 2011.
  • Enrolment Statistics (Winter 2007, recent)
  • Permalink: https://is.slu.cz/course/opf/winter2007/FIN808S