課程資訊
課程名稱
 財務理論
Finance Theory 
開課學期
 104-2 
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
 723 M2000 
班次
  
學分
 3 
全/半年
 半年 
必/選修
 選修 
上課時間
 星期四2,3,4(9:10~12:10) 
上課地點
 管二304 
備註
 本課程中文授課,使用英文教科書。財金組必選。風管組B二擇一。
限碩士班以上 且 限本系所學生(含輔系、雙修生)
總人數上限：50人 
Ceiba 課程網頁
 http://ceiba.ntu.edu.tw/1042Fin7020_HU 
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
為確保您我的權利,請尊重智慧財產權及不得非法影印
課程概述

This course is designed to provide a framework for understanding the theories and practices of financial management.  

課程目標
 The emphasis will be on applying fundamental financial problem solving techniques toward achieving solutions to basic, real world, practical situations. The focus of this class will be on discussing firm’s investment, financing, and dividend policies, along with subjects related to corporate valuation. 
課程要求
  
預期每週課後學習時數
  
Office Hours
  
指定閱讀
 You are expected to understand the basics of Financial Management. One textbook you can use to review is: Stephen Ross, Randolph Westerfield, and Bradford Jordan, 2015, Fundamentals of Corporate Finance, 11/e, McGraw-Hill International Enterprises LLC., Taiwan. 
參考書目
 There is no textbook. Papers will be assigned. 
評量方式
(僅供參考)
  
No.
項目
百分比
說明
1. 
 class participation 
15% 
  
2. 
 case discussion 
25% 
 The case report and term paper are group-based. Each group has three to four members. Please post your group members on CEIBA 討論看板 by 3/10. There are four cases: two HBS cases (extra fees required) and two self-prepared cases. For HBS cases, there will be questions provided beforehand. Each group has to write a maximum two-page text and submit it at the assignment area of the CEIBA website by the night before the case discussion. For self-prepared cases, please describe the case you choose and answer three questions of your choice.  
3. 
 term paper 
30% 
 For the topic of the term paper, each group can choose its own as long as it is related to this class. There will be a class presentation and a written report. 
4. 
 exam 
30% 
  
 
課程進度
週次
日期
單元主題
第1週
 2/25  Introduction 
第2週
 3/3  Investment Decision – Real Options
Luehrman, Timothy A., 1998, Investment Opportunities as Real Options: Getting Started on the numbers, Harvard Business Review, July-August 1998, pp.51-67
* McDonald, R. L., 2006, The Role of Real Options in Capital Budgeting: Theory and Practice1, Journal of Applied Corporate Finance 18:2, 28-39.
Mathews, Scott, Vinay Datar, and Blake Johnson, 2007, A Practical Method for Valuing Real Options: The Boeing Approach, Journal of Applied Corporate Finance 19:2, 95-104 
第3週
 3/10  Investment Decision
*Bakke, Tor-Erik and Toni M. Whited, 2010, Which Firms Follow the Market? An Analysis of Corporate Investment Decisions, Review of Financial Studies 23:5, 1941-1980
Liu, Baixiao, and John J. McConnell, 2015, CEOs, Abandoned Acquisitions, and the Media. Journal of Applied Corporate Finance, 27: 113–121. 
第4週
 3/17  CASE (1) Real Options: Arundel Partners
Capital Structure
*van Binsbergen, J. H., Graham, J. R. and Yang, J., 2011, An Empirical Model of Optimal Capital Structure. Journal of Applied Corporate Finance, 23: 34–59. 
第5週
 3/24  Capital Structure
*Peterson, Michell A., and Raghuram G. Rajan, 1997, Trade Credit: Theories and Evidence, The Review of Financial Studies 10:3, 661-691 
第6週
 3/31  CASE (2) Capital Structure – Debt Policy at UST Inc
Liquidity Policy
*Jankensgård, H., 2010, Measuring Corporate Liquidity Risk. Journal of Applied Corporate Finance, 22: 103–109
Fresard, Laurent, 2010, Financial Strength and Product Market Behavior: The Real Effects of Corporate Cash Holdings, Journal of Finance 65:3, 1097-1122. 
第7週
 4/7  Payout Policy
*Becker, Bo, Zoran Ivković, And Scott Weisbenner, 2011, Local Dividend Clienteles, Journal of Finance 66:2, 655-683. 
第8週
 4/14  CASE (3) Dividend Policy – Repurchase
Risk Management
Mikes, Anette, and Robert S. Kaplan, 2015, When One Size Doesn’t Fit All: Evolving Directions in the Research and Practice of Enterprise Risk Management, Journal of Applied Corporate Finance 27:1, 37 
第9週
 4/21  Risk Management
*Stulz, René, 2013, How Companies Can Use Hedging to Create Shareholder Value, Journal of Applied Corporate Finance 25:4, 21-29  
第10週
 4/28  Crowdfunding
*Agrawal, Ajay, Christian Catalini, and Avi Goldfarb, 2014, Some Simple Economics of Crowdfunding, in Innovation Policy and the Economy, Volume 14, ed. by Josh Lerner and Scott Stern, University of Chicago Press
Lin, Mingfeng, N. R. Prabhala, and S. Viswanathan, 2013, Judging Borrowers by the Company They Keep: Friendship Networks and Information Asymmetry in Online Peer-to-Peer Lending, Management Science 59:1, 17-35 
第11週
 5/5  EXAM 
第12週
 5/12  Active Investor
* Puche, B., Braun, R. and Achleitner, A.-K., 2015, International Evidence on Value Creation in Private Equity Transactions. Journal of Applied Corporate Finance, 27: 105–122.
Kaplan, Steven N., and Josh Lerner, 2010, It Ain't Broke: The Past, Present, and Future of Venture Capital, Journal of Applied Corporate Finance 22:2, 36-47 
第13週
 5/19  CASE (4) Crowdfunding
IPO and Cross-listing 
第14週
 5/26  NO CLASS: Prepare Term Paper 
第15週
 6/2  Group Presentation 
第16週
 6/9  NO CLASS 
第17週
 6/16  Group Presentation