OPF:FIUNAMFM International Financial Manage - Course Information

FIUNAMFM International Financial Management

Extent and Intensity

2/1/0. 5 credit(s). Type of Completion: zk (examination).

Teacher(s)

Ing. Tomáš Heryán, Ph.D. (lecturer)
prof. Ing. Daniel Stavárek, Ph.D. (lecturer)
Ing. Tomáš Heryán, Ph.D. (seminar tutor)

Guaranteed by

prof. Ing. Daniel Stavárek, Ph.D.
Department of Finance and Accounting – School of Business Administration in Karvina

Prerequisites

None

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

• Banking (programme OPF, N_HOSPOL)
• Business Economics and Management (programme OPF, N_EKOMAN, specialization Accounting and Taxes)
• Business Economics and Management (programme OPF, N_EKOMAN, specialization Business)
• Business Economics and Management (programme OPF, N_EKOMAN, specialization Corporate Finance)
• Business Economics and Management (programme OPF, N_EKOMAN, specialization Marketing and Trade)
• Economy of Enterprise in Trade and Services (programme OPF, N_EKOMAN)

Course objectives

The aim of this course is to provide students with necessary knowledge and orientation in a relatively complex area of the international financial management. Financial decisions could be a key within all kinds of the business. Therefore, the role of financial managers is very important nowadays and will be stressed throughout the course. It will be also highlighted how the area of international financial management has changed after the global financial crisis.

Syllabus

• Role of the financial system
  Banking and Market based financial system. The influence of the financial system in the financing and management of multinational corporations. Types of diplomatic conflicts arising in individual systems. Defining takeovers, mergers and acquisitions. Hostile takeover as a tool for management control of the capital market. Ways of carrying out hostile takeovers, techniques and ways of financing their defense.
  Foreign direct investments and portfolio investments
  Corporations' strategies and incentives for foreign direct investments. The benefits of international diversification. Financial management from the perspective of subsidiaries versus the parent companies.
  Capital structure of the corporations
  Long-term funding sources. Theory of capital structure and determination of optimal capital structure. Specifics of the capital structure of multinational corporations. Cost of equity. Costs of foreign capital. The weighted average cost of capital of foreign investments. Alternative costs.
  Dividend policy
  Types of dividend policy. Dividend payout procedure using of the U.S., German and the Czech example. Buyback as an alternative to dividend policy. Methods of execution redemption. Effect of redemption. Dividend reinvestment plan. Dividend policy as a compromise between the possession of profits and its payment in cash. Repatriation of profits of multinational corporations.
  Impacts of the global financial crisis
  It will be explained which impacts had the global financial crisis been on the area of the international financial management. The internationalization and globalization of the financial markets has changed the risks connected with foreign direct investments as well as with portfolio investments.
  

Literature

required literature
• MADURA, J. International Financial Management. Mason etc.: South-Western Publishing, 2011. ISBN 13978-0-538-48221. info
• SHAPIRO, A. C. Multinational Financial Management. Boston, etc: John Willey & Sons, 2010. ISBN 13978-0470-415016. info

recommended literature
• SWEENEY, P. D., McFARLIN, D. B. International Management: Strategic Opportunities and Cultural Challenges. New York: Taylor and Francis, 2014. ISBN 978-0-415-82528-3. info
• EITEMAN, D. K., STONEHILL, A. I., MOFFETT, M. H. Multinational Business Finance: Global Edition. Essex: Pearson Education Ltd., 2012. ISBN 978-0-273-76553-0. info
• BUTLER, K. C. Multinational Finance: Evaluating Opportunities, Costs, and Risks of Operations. New Jersey: John Willey & Sons, 2012. ISBN 978-1-118-27012-7. info

Teaching methods

Lecture with presentation in Power-point

Assessment methods

Grade
Written exam

Language of instruction

English

Further comments (probably available only in Czech)

The course can also be completed outside the examination period.

Teacher's information

Activity	Difficulty [h]
Ostatní studijní zátěž	66
Přednáška	26
Seminář	13
Zkouška	40
Summary	145

• Enrolment Statistics (Summer 2019, recent)
  
• Permalink: https://is.slu.cz/course/opf/summer2019/FIUNAMFM