IC201-Corporate Finance

Module Provider: ICMA Centre
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Spring term module
Pre-requisites: IC102 Introductory Finance/Trading Simulation I
Non-modular pre-requisites:
Modules excluded:
Current from: 2021/2

Module Convenor: Miss Dina Ghanma
Email: dina.ghanma@icmacentre.ac.uk

Type of module:

Summary module description:

This module focusses on corporate value, considering how it is measured and how companies can create value through their strategies, financial decisions and governance practices. 


The module aims to offer students a good grounding in corporate finance theory and an appreciation of the related empirical evidence. There will be a focus on shareholder value maximisation and alternative corporate objectives, including a consideration of the impact of ownership and control on those objectives. 

Assessable learning outcomes:

By the end of the module students will be able to: 

  • Explain how and why the ownership and control of companies affects their objectives 

  • Evaluate investment projects 

  • Value companies using discounted cash flows and multiples 

  • Understand and communicate key corporate finance theories relating to capital structure and dividend policy 

  • Understand and communicate the aims and outcomes of acquisitions and divestments  

In addition students have the opportunity to: 

  • Gain experience of using databases 

  • Improve their verbal an d online communication skills 

Additional outcomes:

Outline content:

Ownership and governance of companies 

Value and valuation 

Initial public offerings 

Seasoned equity issues and capital structure 1 

Capital structure 2 

Returning cash to shareholders 

Mergers and acquisitions 1 

Mergers and acquisitions 2 



Global context:

The module uses real-world examples taken from a variety of markets across the world. 

Brief description of teaching and learning methods:

The lectures are used to present theory and evidence, concepts are reinforced and understanding tested in face to face seminars and wikis. Revision webinars are also provided. 

Contact hours:
  Autumn Spring Summer
Lectures 20
Seminars 9
Guided independent study:      
    Wider reading (independent) 25
    Wider reading (directed) 50
    Exam revision/preparation 10 34
    Other 2
    Preparation for seminars 14
    Essay preparation 14
    Reflection 22
Total hours by term 0
Total hours for module 200

Summative Assessment Methods:
Method Percentage
Written exam 70
Written assignment including essay 30

Summative assessment- Examinations:

One, 2 hour exam

Summative assessment- Coursework and in-class tests:

One written assignment of 1500 words, submitted in week 5-7 of the spring term.

Formative assessment methods:

Question sets discussed during the seminars with feedback provided during those seminars and on the Blackboard wiki.

Penalties for late submission:

Assessment requirements for a pass:

Reassessment arrangements:

A 2-hour exam

Additional Costs (specified where applicable):

  1. Required text books (£54)

  2. Specialist equipment or materials

  3. Specialist clothing, footwear or headgear

  4. Printing and binding

  5. Computers and devices with a particular specification

  6. Travel, accommodation and subsistence

Last updated: 8 December 2021


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