CORPFIN 3500 - Corporate Finance Theory III
North Terrace Campus - Semester 2 - 2015
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General Course Information
Course Details
Course Code CORPFIN 3500 Course Corporate Finance Theory III Coordinating Unit Adelaide Business School Term Semester 2 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Prerequisites CORPFIN 2500 & CORPFIN 2502 Assumed Knowledge SACE Stage 2 Mathematical Studies & ACCTING 1002 & ECON 2508 Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture Course Staff
Course Coordinator: Associate Professor Jean Canil
Tutors:
Seb: sebastien.ananian-cooper@adelaide.edu.au
Bim: duc.nguyen@adelaide.edu.au
Vickie: wei.li03@adelaide.edu.auCourse Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
See LEARNING ACTIVITIES SUMMARY below -
Learning Outcomes
Course Learning Outcomes
By the end of this course students should be able to:
1. Explain and interpret conceptual models and arguments in corporate finance
2. Recognize the model appropriate for structuring a given financial problem
3. Understanding the data requirements of a chosen model
4. Understanding how outputs are sensitive to changed data or assumptions
5. Interpreting the results consistent with the model structureUniversity Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Knowledge and understanding of the content and techniques of a chosen discipline at advanced levels that are internationally recognised. 1-5 The ability to locate, analyse, evaluate and synthesise information from a wide variety of sources in a planned and timely manner. 1-5 An ability to apply effective, creative and innovative solutions, both independently and cooperatively, to current and future problems. 1-5 Skills of a high order in interpersonal understanding, teamwork and communication. 1-5 A proficiency in the appropriate use of contemporary technologies. 1-5 A commitment to continuous learning and the capacity to maintain intellectual curiosity throughout life. 1-5 A commitment to the highest standards of professional endeavour and the ability to take a leadership role in the community. 1-5 An awareness of ethical, social and cultural issues within a global context and their importance in the exercise of professional skills and responsibilities. 1-5 -
Learning Resources
Required Resources
The textbook for the course is Allen, F., R. A. Brealey, and S. C. Myers, Principles of Corporate Finance 11th edition McGraw Hill, 2013. (ABM). You must acquire the 11h edition as material is covered not contained in the 10th edition. -
Learning & Teaching Activities
Learning & Teaching Modes
Lectures supported by problem-solving tutorials developing material covered in lectures.Workload
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 9 hours for a three-unit course or 13 hours for a four-unit course, of private study outside of your regular classes.
Students in this course are expected to attend all lectures throughout the semester plus one tutorial class each week.Learning Activities Summary
Lecture dates:
Topic:
.1.1.1.1.1
Reading:
31 July
1
Does debt policy matter?
Ch.17 + Titman.pdf
7 Aug
2
How much should a firm borrow?
Ch.18 pp.448-467
14 Aug
3
The pecking order and Stulz (1990)
Ch.18 pp.467-478 + Lakshmi.pdf; Frank.pdf + additional reading
21 Aug
4
Leases
Ch.25 + distributed readings
28 Aug
5
Convertibles
Ch. 24 pp 617-623 + Mayer.pdf
4 Sept
Test 1. Starts at 9:20am. There are two different test venues.
Students with student number a1621999 and below - Ligertwood 231
Students with student number a1622000 and above - Napier 102
Student cards required for entry. If you have lost your student card, bring other ID, eg licence/proof of age card/passport.No tutorials this week
11 Sept
6
Payout policy
Ch.16 + LaPorta.pdf & Brandon.pdf
18 Sept
7
Equity and debt issues including IPOs
Ch.15 (exclude p. 389 dealing with rights issues) + Loughran and Ritter.pdf
Mid-semester break
9 Oct
Test 2. Starts at 9:20am. There are two different test venues.
Students with student number a1621999 and below - Ligertwood 231
Students with student number a1622000 and above - Napier 102
Student cards required for entry. If you have lost your student card, bring other ID, eg licence/proof of age card/passport.
No tutorials this week16 Oct
8
Executive compensation
Ch.12 pp 295-304 + Core et al.pdf
23 Oct
9
Internal capital markets
Gertner.pdf + Stein.pdf + additional reading
30 Oct
Review Lecture and Tutorials for Topic 9
Note: Reading may be varied during the semester.
Specific Course Requirements
Consultations arranged prior to tests and exams. Otherwise by appointment. -
Assessment
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary
Assessment Date and time Weighting Topics covered Related learning outcome Class Test 1: 50 minutes See Learning and Activities Summary 15 % 1-3 All Class Test 2: 50 minutes See Learning and Activities Summary 20% 4-6 All Final Exam: 3 hours, Closed-book See Semester 2 exam timetable, when released, for details 65% All All To pass this subject, 50% overall is required (this subject is not 'double pass'). Neither test is redeemable.
Assessment Detail
No information currently available.
Submission
No information currently available.
Course Grading
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
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Student Feedback
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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Student Support
- Academic Integrity for Students
- Academic Support with Maths
- Academic Support with writing and study skills
- Careers Services
- International Student Support
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
- YouX Student Care - Advocacy, confidential counselling, welfare support and advice
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Elder Conservatorium of Music Noise Management Plan
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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