課程大綱

課程資訊

課程名稱

財務理論
FINANCE THEORY

開課學期

98-2

授課對象

管理學院財務金融學研究所

授課教師

胡星陽

課號

Fin7020

課程識別碼

723EM2000

班次

學分

全/半年

半年

必/選修

選修

上課時間

星期二2,3,4(9:10~12:10)

上課地點

管二206

備註

本課程以英語授課。財金組必選。
總人數上限：50人

Ceiba 課程網頁

http://ceiba.ntu.edu.tw/982GSFfinmgt

課程簡介影片

核心能力關聯

核心能力與課程規劃關聯圖

課程大綱

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課程概述

這門課是以英文授課。

課程目標

目標是比較深入的介紹公司投資決
策和財務決策，但是盡量不用數學
分析方法。

課程要求

預期每週課後學習時數

Office Hours

每週二 13:00~15:00

指定閱讀

參考書目

The textbook used will be：
Stern, Joel M., and Donald Chew Jr., 2003, The Revolution in
Corporate Finance, 4th ed. Blackwell Publishing. 華泰書局進口

If you need to review the basic materials of the same
topics, you can look at the following books:
Brealey, Richard A., Stewart C Myers, and Franklin Allen,
2005, Principles of Corporate Finance, 8th edition,
McGraw-Hill/Irwin.
Ross, Stephen A., Randolph W. Westerfield, and Jeffrey
Jaffe, 2004, Corporate Finance, 7th edition, McGraw-Hill/Irwin.

評量方式
(僅供參考)

No.	項目	百分比	說明
1.	case discussion and class participation	20%	The case discussion is individual-based (discussions are encouraged). There are three cases (extra fees required). For each case, there will be questions provided beforehand. Students have to write a one-page answer and submit it at the assignment area of the ceiba website by the night before the case discussion (3/20, 4/3, 4/17). Participation is required in discussing the case. I will also call on people to provide opinions. To allow me better understand you; please submit your personal information at the assignment area of the ceiba website by 3/13.
2.	midterm examination	40%
3.	paper presentation	20%	The paper presentation and the term paper are prepared as group projects. Each group can have three to four students, and the group list should be mailed to me on 3/21. The material for paper presentation will be provided. For each paper, one group will prepare oral presentation and one or two groups will be responsible for asking questions.
4.	term paper	20%	The term paper can be a case study or a literature review, but each group should prepare its own materials. The case study can also be a review on most significant developments in financial policies or financial products over the past year (Euromoney, Institutional Investor, Asiamoney). The term paper should have both oral presentation and written report. The written report is due one week after the oral presentation. Reports have to be typed and the text is limited to twenty pages.

課程進度

週次	日期	單元主題
第1週	2/28	NO CLASS
第2週	3/07	INTRODUCTION 12. The Capital Structure Puzzle, M. F. Barclay and C. W. Smith, Jr.
第3週	3/14	13. What do we know about stock Repurchases? G. Grullon and D. L. Ikenberry 18. Are banks still special? New evidence on their role in the corporate capital-raising process, C. James and D. C. Smith
第4週	3/21	CASE: Fleetwood Enterprises, Inc. 1990 (293013) 19. Convertible bonds: Matching financial and real options, D. Mayers
第5週	3/28	Buyout "Leveraged Buyouts in the U.K. and Continental Europe: Retrospect and Prospect", MIKE WRIGHT, LUC RENNEBOOG, TOMAS SIMONS, LOUISE SCHOLES, Journal of Applied Corporate Finance, Vol. 18, No. 3, pp. 38-55, Summer 2006 "Public vs. Private Equity", JOHN J. MOON, Journal of Applied Corporate Finance, Vol. 18, No. 3, pp. 38-55, Summer 2006
第6週	4/04	Risk Management CASE: Honeywell, Inc. and Integrated Risk Management (200036) 24. Rethinking risk management, R. M. Stulz
第7週	4/11	Investment decisions 8. The Promise of Real Options, A. Damodaran “Investment Opportunities as Real Options: Getting Started on the numbers”, Timothy A. Luehrman, Harvard Business Review, July-August 1998, pp.51-67
第8週	4/18	CASE: Arundel Partners: The Sequel Project (292140) “Strategy as a Portfolio of Real Options”, Timothy A. Luehrman, Harvard Business Review, September-October 1998, pp.89-99
第9週	4/25	Globalization 29. Globalization, corporate finance, and the cost of capital, R. Stulz
第10週	5/02	Midterm
第11週	5/09	Presentation of paper
第12週	5/16	Presentation of paper
第13週	5/23	Presentation of paper
第14週	5/30	Term paper presentation
第15週	6/06	Term paper presentation
第16週	6/13	Term paper presentation