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Corporate Finance and Financial Institutions

Code: 45544
Credits: 10
2026/2027
Degree programme Type Course
Economics and Business Administration OP 1

Contact lecturer

Name :
Maria Antònia Tarrazón Rodón
Email :
mariaantonia.tarrazon@uab.cat

Teaching staff

Sefa Takmaz
Miguel Karlo de Jesús Reyes
Joan Montllor Serrats

Group languages

You can consult this information at the end of the document.

Prerequisites

Fundamentals of Economics and Business I

Fundamentals of Economics and Business II

Objectives

Corporate Finance and Financial Institutions

Value creation in corporations: Financial policy, corporate growth, and corporate restructuring. Corporate and banking investment decisions, risk management in domestic and international contexts.

Learning outcomes

  • (CA20) Recognise opportunities for financing projects and business initiatives or other forms of entrepreneurship.
  • (CA21) Identify financing needs and problems associated with the decision-making process in incomplete markets.
  • (CA22) Analyse the efficiency and viability of different financing proposals in the business and organisational sphere.
  • (KA23) Recognise the different elements of sources of financing of companies and institutions in the financial markets.
  • (KA24) Identify the different alternatives and financial instruments available for portfolio management and investment selection.
  • (SA13) Design efficient investment strategies in the business and organisational sphere.

Contents


Corporate Financial Policy and Banking (15 hours)

- Debt policy

- Dividend policy

- Capital structure in the banking industry and solvency requirements


Institutional Investors and Mergers & Acquisitions (15 hours)

- Types of investment companies

- Asset management and performance analysis

- Mergers & acquisitions


International Finance and Risk Management (15 hours)

- International financing and investment decisions

- Foundations of international risk management

- Strategies for international risk management


Capital Budgeting and Real Options (15 hours)

- Capital budgeting decision making: Standard models (IRR, NPV and NTV)

- Option pricing in discrete time

- Advanced capital budgeting through real option analysis



Learning activities and methodology

Title Hours ECTS Learning outcomes
Type: Autonomous
Study, Reading, Exercise solving, Essays writing, 79.5 3.18
Type: Guided
Lectures with ITC support 37.5 1.5
Resolution of exercises 37.5 1.5
Type: Supervised
Tutoring and monitoring work in progress. In-class presentations 62.5 2.5

The activities that will allow the students to learn the basic concepts included in this course are:

1. Theory lectures where the instructor will explain the main concepts.

The goal of this activity is to introduce the basic notions and guide the student learning.

2. Problem Sets

In some subjects, a problem set which students will have to solve individually or in teams will be included in every unit. The goal of this activity is twofold. On one hand students will work with the theoretical concepts explained in the classroom, and on the other hand through this practice they will develop the necessary skills for problem solving.

3. Practice lectures

The aim of this activity is to comment on and solve any possible doubt that students may have had solving the problem assignment. This way they will be able to understand and correct any errors they may have had during this process.

4. Essay writing

In some subjects, students will produce written essays on the topics proposed.

5. Tutoring hours

Students will have some tutor hours in which the subject instructors will help them solve any doubts they may have.

Annotation: within the schedule set by the centre or degree programme, 15 minutes of one class will be reserved for students to evaluate their lecturers and their courses or modules through questionnaires.

Assessment

Continuous assessment activities

Title Weight Hours ECTS Learning outcomes
Exercises and essays 35% 30 1.2 CA20, CA21, CA22, KA23, KA24, SA13
Topic Exam I 16.25% 0.75 0.03 CA20, CA21, CA22, KA23, KA24, SA13
Topic Exam II 16.25% 0.75 0.03 CA20, CA21, CA22, KA23, KA24, SA13
Topic Exam III 16.25% 0.75 0.03 CA20, CA21, CA22, KA23, KA24, SA13
Topic Exam IV 16.25% 0.75 0.03 CA20, CA21, CA22, KA23, KA24, SA13

1. The module consists of a number of different subjects or parts taught by different professors. The final mark for the module will consist of the average of the marks of each subject within the module.

  • The module is considered successfully passed if:
  • the mark for each subject within the module is higher than or equal to 3.0 (in a 0 to 10 scale), and
  • the final mark for that module is higher than or equal to 5.0 (in a 0 to 10 scale).


IMPORTANT: Students are expected to attend all lectures. Class attendance and in-class participation will be part of the final assessment of each subject.


  • If the module is not successfully passed, the MEBA coordinators will ask the student to re-take the exams for those subjects that, according to the coordinators and the professors opinions, may help the student to successfully pass the module.


If after the re-take exams the student successfully passes the module, her or his mark for that module will be upgraded accordingly, otherwise the previous grade will remain valid. Two restrictions apply for the results after retaking:

  • the highest mark for any subject retaken is 5.5; and
  • the final grade of the module after the re-take exams cannot be higher than 6.8.


The calendar for the re-retake exams will be announced along with the grades report.


2. The mark -between 0 and 10- for each subject will be computed by each professor based on the criteria stated on the program and on the student's performance. As a general rule, 35% of the mark will correspond to the assessment of the continuous work of the student during the course, and 65%will consist of a comprehensive final examination. The duration and nature of the final examination is decided by each professor.


3. Final exams are compulsory. Re-take exams are only thought for those students having previously written a first exam and failed.


This modul does not offer the option for comprehensive evaluation.

Bibliography


Basic bibliography

Bodie, Z., A. Kane, A. Marcus, and N.M. Racculia. Investments. McGraw-Hill. 2026 release.

Brealey, R.A., S.C. Myers, F. Allen, and A. Edmans Principles of Corporate Finance. McGraw-Hill. 2025 release.

Eiteman, D.K., A.I. Stonehill, and M.H. Moffett, Multinational Business Finance, 16th edition. Pearson Education. 2023.

Hull, J. Options, Futures and Other Derivatives, 11th edition. Pearson, 2022.

Hull, J. Risk Management and Financial Institutions. 6th edition. Wiley. 2023.

Ross, S.A., R. W. Westerfield, J. Jaffe, and B. D. Jordan. Corporate Finance. 12th edition. McGraw-Hill. 2019.

Shapiro A.C. International Financial Management. e-book. Wiley. 2014.

Solnik, B. and D. McLeavey. Global Investments. New international edition. e-book. Pearson. 2013.

Trigeorgis, L. Real Options. Managerial Flexibility and Strategy in Resource Allocation. MIT Press. 1996.


Complementary bibliography

Bierman, H. and S. Smidt. Advanced Capital Budgeting: Refinements in the Economic Analysis of Investment Projects. Routledge. 2007.

Lee, C-F. and A.C. Lee (eds.). Encyclopedia of Finance. 2nd edition. e-book. Springer. 2013. UAB e-catalogue.

The New Palgrave Dictionary of Economics. e-book. Macmillan. 2018. UAB e-catalogue.


Software

Excel. R. Stata.

Course groups and languages

The information provided is provisional until November 30. After this date, you will be able to consult the language of each group through this link. To access the information, you will need to enter the course CODE

Type of teaching Group Language Semester Shift
(TEm) Theory (master) 30 English second semester morning-mixed