À propos de ce cours
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Dates limites flexibles

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Approx. 17 heures pour terminer

Recommandé : 7 hours/week...


Sous-titres : Anglais, Coréen

Compétences que vous acquerrez

Risk ManagementCorporate FinanceMergers And Acquisitions (M&A)Debt

100 % en ligne

Commencez dès maintenant et apprenez aux horaires qui vous conviennent.

Dates limites flexibles

Réinitialisez les dates limites selon votre disponibilité.

Approx. 17 heures pour terminer

Recommandé : 7 hours/week...


Sous-titres : Anglais, Coréen

Programme du cours : ce que vous apprendrez dans ce cours

1 heure pour terminer

Course Orientation

You will become familiar with the course, your classmates, and our learning environment. The orientation will also help you obtain the technical skills required for the course.

2 vidéos (Total 13 min), 4 lectures, 1 quiz
2 vidéos
Welcome to Corporate Finance II: Financing Investments and Managing Risk11 min
4 lectures
Syllabus10 min
About the Discussion Forums10 min
Glossary10 min
Getting to Know Your Classmates10 min
1 exercice pour s'entraîner
Orientation Quiz10 min
3 heures pour terminer

Module 1: Raising Financing: The Capital Structure Decision

In Module 1, we will discuss the differences between debt and equity financing for corporations. We will then learn how to avoid usual mistakes that people make when analyzing the choice between debt and equity. We will work with financial statements to understand the impact of higher debt on corporate profits, and we will learn how debt and risk are fundamentally related. Finally, we will use our knowledge to understand how companies choose how much debt to have.

12 vidéos (Total 122 min), 2 lectures, 3 quiz
12 vidéos
Issuing Debt and Equity – The Mechanics11 min
Should a Company Issue Debt or Equity?9 min
Two Misconceptions8 min
Debt Increases Systematic Risk10 min
Evidence From the Field: Which Type of Capital Do Firms Prefer?9 min
The Effect of Leverage On Taxes and Profits7 min
Leverage and Personal Taxes9 min
Leverage and the Risk of Financial Distress9 min
The Trade-off Theory of Capital Structure7 min
Analog Outfitters30 min
1-11: Module 1 Review3 min
2 lectures
Module 1 Overview10 min
Module 1 Readings10 min
3 exercices pour s'entraîner
Practice Quiz 112 min
Practice Quiz 216 min
Module 1 Quiz16 min
5 heures pour terminer

Module 2: Understanding Debt Financing and Payout Policy

In Module 2 we will dig deeper into the mechanics and the institutional details that are important to understand debt financing. We will learn models that allow us to link default probabilities to yields on a company’s debt. We will discuss the roles of credit ratings and credit default swaps for debt markets. We will learn the importance of non-price contractual terms such as debt covenants, collateral and seniority. We will use this knowledge to understand how companies choose between bank debt and bond financing. Finally, we will discuss how payout decisions (dividends and share repurchases) affect firm value and how companies choose their optimal payout policy.

12 vidéos (Total 109 min), 2 lectures, 5 quiz
12 vidéos
Pricing Debt: Yield to Maturities, and Default Probabilities12 min
Credit Ratings: Determinants and Implications12 min
Credit Default Swaps10 min
The Many Different Types of Debt8 min
Bank or Market Financing?13 min
Do Dividends and Share Repurchases Affect Firm Value?9 min
Main Factors Driving Payout Decisions8 min
Dividends or Repurchases?11 min
2-10: Module 2 Review2 min
Assignment 1 Overview1 min
Assignment 1 Discussion15 min
2 lectures
Module 2 Overview10 min
Module 2 Readings10 min
4 exercices pour s'entraîner
Practice Quiz 110 min
Practice Quiz 212 min
Practice Quiz 310 min
Module 2 Quiz20 min
3 heures pour terminer

Module 3: Risk Management

In Module 3 we will identify good and bad reasons why companies engage in risk management, or hedging. We will learn the mechanics of how to use derivatives such as forwards and futures to eliminate specific risks. We will also discuss how to manage risks that cannot be hedged with derivatives. In particular, we will learn that appropriate liquidity management can work as a substitute for hedging strategies. We will also discuss how and why to hedge currency risk, and how to think about a company’s cost of capital when making cross-border investments.

11 vidéos (Total 96 min), 2 lectures, 3 quiz
11 vidéos
Good and Bad Reasons to Hedge9 min
Forward Contract6 min
Futures Contracts9 min
Hedge Ratios and Imperfect Hedging7 min
Liquidity as a Substitute for Hedging12 min
Bilateral Contracts9 min
Operational Hedging10 min
Currency Risk and the Cost of Capital13 min
Adjusting the Cost of Capital for International Projects11 min
3-11 Module 3 Review3 min
2 lectures
Module 3 Overview10 min
Module 3 Readings10 min
3 exercices pour s'entraîner
Practice Quiz 118 min
Practice Quiz 212 min
Module 3 Quiz16 min
6 heures pour terminer

Module 4: Financial Management of Acquisitions and R&D

In Module 4, we will apply the financial management tools that we developed in this course to M&A decisions and R&D programs. We will learn how to finance an M&A deal, and how companies choose between cash and stock payments to acquire target companies. We will also discuss the financing of LBOs (leveraged buyouts), and learn how to model a leveraged buyout using Excel. We will then discuss the financial management of R&D programs, with an emphasis on risk management. Specifically, we will learn how to think about the financing of R&D in a dynamic framework that considers the need to make uncertain follow up investments.

14 vidéos (Total 158 min), 2 lectures, 5 quiz
14 vidéos
Means of Payment in M&A16 min
Capital Structure and Payout Policy in M&A Part I12 min
Capital Structure and Payout Policy in M&A Part II12 min
Financing Private Equity Deals Part I8 min
Financing Private Equity Deals Part II11 min
Leveraged Buyout (LBO) Modeling Part I8 min
Leveraged Buyout (LBO) Modeling Part II16 min
Financing R&D Investments8 min
Risk Management for R&D Projects10 min
Nona Inc.28 min
4-11: Module 4 Review2 min
Assignment 2 Overview1 min
Assignment 2 Discussion16 min
2 lectures
Module 4 Overview10 min
Module 4 Readings10 min
4 exercices pour s'entraîner
Practice Quiz 116 min
Practice Quiz 216 min
Practice Quiz 38 min
Module 4 Quiz20 min
15 minutes pour terminer

Course Conclusion

You will find out where to go next after completing this course and be able to share any thoughts you have on this course experience.

1 vidéo (Total 15 min)
1 vidéo
59 avisChevron Right


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Principaux examens pour Corporate Finance II: Financing Investments and Managing Risk

par ROMar 2nd 2019

Excellent material to drive and support the discussions introduced in the live sessions. Some materials may need a review (particularly wording), but it does not compromise the overall content at all.

par DBJun 27th 2019

I didn't realise how much I'd learn in this course. So many concepts I've touched on before and thought I knew a bit about, but in hindsight I really didn't understand, until I completed this course.



Heitor Almeida

Professor of Finance, Stanley C. and Joan J. Golder Chair in Corporate Finance
Department of Finance, College of Business

Commencez à travailler pour obtenir votre master

Ce cours fait partie du diplôme intégralement en ligne Master of Business Administration (iMBA) de Université de l'Illinois à Urbana-Champaign. Si vous êtes admis au programme complet, vos cours sont pris en compte dans votre apprentissage diplômant.

À propos de Université de l'Illinois à Urbana-Champaign

The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs. ...

À propos de la Spécialisation Gestion financière

This Specialization covers the fundamentals of strategic financial management, including financial accounting, investments, and corporate finance. You will learn to evaluate major strategic corporate and investment decisions and to understand capital markets and institutions from a financial perspective, and you will develop an integrated framework for value-based financial management and individual financial decision-making. The Financial Management Specialization is part of the University of Illinois iMBA Program. Each course in this Specialization also fulfills a portion of the requirements for a University of Illinois course that can earn you college credit. When you complete the Financial Management Specialization, you will: · Have a solid foundation in developing an integrated framework for strategic financial decision-making. · Have a thorough understanding of financial statements and the financial information they provide, and be able to critically evaluate and analyze cash flows statements. · Understand the management and evaluation of portfolios and firm valuation techniques. · Understand how to incorporate risk and uncertainty into investment decisions and understand how companies make financing and investment decisions....
Gestion financière

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