IDENTIFYING DATA 2014_15
Subject (*) FINANCIAL MANAGEMENT: FINANCE Code 16204102
Study programme
Graduate in Finances and Accounting
Cycle 1st
Descriptors Credits Type Year Period
6 Compulsory Third 1Q
Language
Anglès
Català
Department Gestió d'Empreses
Coordinator
SABATER MIRALLES, JUAN
BORRAS BALSELLS, FRANCESC XAVIER
CÀMARA TURULL, XAVIER
E-mail francescxavier.borras@urv.cat
xavier.camara@urv.cat
daniel.liviano@urv.cat
xiaoni.li@urv.cat
juan.sabater@urv.cat
Lecturers
BORRAS BALSELLS, FRANCESC XAVIER
CÀMARA TURULL, XAVIER
LIVIANO SOLÍS, DANIEL
LI ., XIAONI
SABATER MIRALLES, JUAN
Web
General description Per poder realitzar les inversions, l’empresa necessita recursos, diners. El problema que se li planteja al director financer és l’obtenció d’aquests recursos. L’objectiu d’aquesta assignatura és el que proporciona les eines i instruments necessaris per la presa de decisions en aquest àmbit mirant de maximitzar la riquesa dels accionistes.

Competences
Type A Code Competences Specific
 A2 Manage the financial and / or accounting area of any organization, public or private, and provide an interrelated overview of both areas.
 A6 Draw up consultancy reports on financial, accounting and tax issues.
Type B Code Competences Transversal
 B4 Autonomy, responsibility and initiative
 B5 Teamwork, collaboration and sharing of responsibility
Type C Code Competences Nuclear
 C1 Have an intermediate mastery of a foreign language, preferably English
 C2 Be advanced users of the information and communication technologies
 C3 Be able to manage information and knowledge
 C4 Be able to express themselves correctly both orally and in writing in one of the two official languages of the URV

Learning outcomes
Type A Code Learning outcomes
 A2 Determine the different effects of company leverage and Apply these to the analysis of the profitability and risk of shareholders.
Define and Understand the concept of capital cost and can Use the different models for calculating this cost.
 A6 Apply the different models regarding both capital structure and dividend policy to financial decision taking with a company.
Understand the characteristics and uses of different banking products.
Type B Code Learning outcomes
 B4 Manage and organize their work and time as scheduled.
Do the work planned in accordance with the quality criteria provided.
Present results before the stipulated deadlines.
Recognize the good and bad points of their approach to a particular task.
Decide what needs to be done for a particular job/project and do it according to schedule.
 B5 Help to define, organize and distribute the group’s tasks.
Finish the tasks assigned to them in the time allowed and with the resources available.
Take active part in planning the work of the team, and in distributing the tasks and the deadlines.
Type C Code Learning outcomes
 C1 Explain and justify briefly their opinions and projects.
Understand instructions about classes or tasks assigned by the teaching staff.
Understand the general meaning of texts that have non-routine information in a familiar subject area.
Take notes during a class.
Write letters or take notes about foreseeable, familiar matters.
 C2 Use software for off-line communication: word processors, spreadsheets and digital presentations.
 C3 Locate and access information effectively and efficiently.
Critically evaluate information and its sources, and add it to their own knowledge base and system of values.
Reflect on, review and evaluate the information management process.
 C4 Produce well-structured, clear and rich written texts

Contents
Topic Sub-topic
UNIT 1. Leverage and risk
1.1. Concept and definition.
1.2. Operating leverage and financial leverage
1.3. ROE analysis.
1.4. Operating and financial risk. Measures.

UNIT 2. Cost of capital
2.1. Concept and determinants of cost of capital
2.2. The cost of equity capital. Models.
2.3. The cost of debt.
2.4. Weighted average cost of capital (WACC).

UNIT 3. Capital Structure
3.1. The problem of capital structure.
3.2. The Traditional Thesis.
3.3. The Modigliani-Miller Theorem (MM)
3.4. Trade off theory.
3.5. Other determinants.
UNIT 4. Dividend Policy
4.1. Introduction to the dividend policy problem.
4.2. Dividend policy in a perfect market.
4.3. Gordon-Shapiro model.
4.4. Why dividend policy matters?

Planning
Methodologies  ::  Tests
  Competences (*) Class hours
Hours outside the classroom
(**) Total hours
Introductory activities
1 0 1
Practicals using information and communication technologies (ICTs) in computer rooms
A2
A6
B4
B5
C2
C3
C4
26 58 84
Lecture
A2
A6
B4
C4
28 26 54
Personal tuition
1 2 3
 
Mixed tests
A2
A6
B4
C3
C4
4 4 8
 
(*) On e-learning, hours of virtual attendance of the teacher.
(**) The information in the planning table is for guidance only and does not take into account the heterogeneity of the students.

Methodologies
Methodologies
  Description
Introductory activities S'introdueixen els objectius de l'assignatura, el mètode docent i els criteris d'avaluació.
Practicals using information and communication technologies (ICTs) in computer rooms S'empren eines de programari informàtic (fulls de càlcul i processador de textos) per resoldre els problemes que intenta resoldre l'assignatura.
Lecture Es defineixen i analizen els instruments i eines per poder prendre decisions de finançament en l'àmbit empresarial.
Personal tuition Es resoldran dubtes i preguntes i s'orientarà a l'alumne de cara a la realització de proves d'avaluació.

Personalized attention
Description
Els alumnes disposen d'hores de consulta per resoldre dubtes del temari, dels exercicis, i de totes les activitats complementàries.

Assessment
Methodologies Competences Description Weight        
Practicals using information and communication technologies (ICTs) in computer rooms
A2
A6
B4
B5
C2
C3
C4
Els coneixements teòrics i pràctiques seran avaluats en les diferents sessions, així com amb la realització de diversos treballs.
Durant el curs es lliuraran 2 treballs (10% cadascun) i un treball final (10% ).
30%
Mixed tests
A2
A6
B4
C3
C4
Els coneixements teòrics i pràctics, tant de les sessions magistrals com de les pràctiques a través de TIC, seran avaluats a través de proves mixtes. Aquestes podran incloure preguntes de desenvolupament, preguntes curtes, test i problemes.
Prova tema 1: 15%
prova tema 2: 15%
prova tema 3 i final: 40%
70%
Others  
 
Other comments and second call

En primera convocatòria

per aprovar l'assignatura cal obtenir més d'un 5 de mitja segons la ponderació de més amunt.


En segona convocatòria

en cas de que la nota de l'examen final sigui superior a la que s'obtindria d'aplicar els criteris (70-30%) prevaldrà la nota de l'examen final, passant a suposar aquesta el 100% de la nota.


Sources of information

Basic Brealey, R.; Myers, S, Fundamentos de financiación empresarial, , Madrid
Suárez Suárez, A.S, Decisiones óptimas de inversión y financiación en la empresa, , Madrid
Borrell, M.; Crespí, R, Direcció financera de l’empresa, , Barcelona
R. C. Higgins, Análisis para la dirección financiera, , Madrid
F.X. Borràs; X. Càmara, Introducció a direcció financera, , Tarragona

En el moodle es penjaran els apunts de l'assignatura.

Complementary Fernández, A.I.; García Olalla, M, Las decisiones financieras de la empresa, , Barcelona
Arroyo, A.M.; Prat, M., Dirección Financiera, , Bilbao
Ross, S.; Westerfield, R.L;Jaffe, J., Finanzas corporativas, , Madrid
Durán Herrera, J.J., Economía y Dirección Financiera de la Empresa, , Madrid
Weston, J. i Brigham, E., Fundamentos de administración financiera, , México

Recommendations


Subjects that it is recommended to have taken before
FINANCIAL ACCOUNTING/16204002
STATISTICS I/16204007
(*)The teaching guide is the document in which the URV publishes the information about all its courses. It is a public document and cannot be modified. Only in exceptional cases can it be revised by the competent agent or duly revised so that it is in line with current legislation.