| Competences |
| Type A | Code | Competences Specific |
| A2 | Find, analyze and interpret quantitative and qualitative information of a financial, accounting, economic, social and legal nature that is relevant to the taking of business decisions. | |
| 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 |
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. Define and understand the concept of capital cost and can Use the different models for calculating this cost. Determine the different effects of company leverage and Apply these to the analysis of the profitability and risk of shareholders. | |
| 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 | |||||||
| Lecture |
|
28 | 26 | 54 | |||||||
| IT-based practicals in computer rooms |
|
26 | 58 | 84 | |||||||
| Personal attention |
|
1 | 2 | 3 | |||||||
| Mixed tests |
|
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 |
| Description | |
| Introductory activities | The objectives of the subject, the teaching method and the evaluation criteria are introduced. |
| Lecture | The instruments and tools are defined and analyzed so as to be able to make financing decisions in the business field. |
| IT-based practicals in computer rooms | Computer software programs and tools (spreadsheets and word processor) are applied to solve the problems related to the course. |
| Personal attention | Questions and doubts will be resolved and the student will be oriented towards conducting evaluation tests. |
| Personalized attention |
| Description |
| The students have office hours to solve doubts and queries related to the syllabus, exercises, and all other complementary activities. |
| Assessment |
| Methodologies | Competences | Description | Weight | |||||||
| IT-based practicals in computer rooms |
|
The theoretical and practical knowledge will be evaluated in different sessions, with the accomplishment of various assignments. During the course, two projects (10% each) and one final course assignment (10%) should be delivered. |
30% | |||||||
| Mixed tests |
|
The theoretical and practical knowledge, including theoretical lectures and practice with IT applications, will be evaluated through mixed tests. The mixed test may include questions of development, short questions, multiple choice tests and problems. Test topic 1: 15% Test topic 2: 15% Final exam topic 1,2&3: 40% |
70% | |||||||
| Others |
| Other comments and second exam session | |||
|
At the first sitting: To pass the course, you must obtain a 5 or above on average according to the continued evaluation weight. At the second sitting: If the final exam's grade is higher than the combination of continued evaluation applying the criteria (70-30%), the final exam grades will be taken as the final course evaluation grades (100%). |
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| 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
FX Borràs, X Càmara, MC Molina, Apunts de l'assignatura, , |
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| 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 |
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| Recommendations |
| Subjects that continue the syllabus | ||
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| Subjects that it is recommended to have taken before | |||
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(*)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.