In this course you will learn how companies decide on how much debt to take, and whether to raise capital from markets or from banks. You will also learn how to measure and manage credit risk and how to deal with financial distress. You will discuss the mechanics of dividends and share repurchases, and how to choose the best way to return cash to investors. You will also learn how to use derivatives and liquidity management to offset specific sources of financial risk, including currency risks. Finally, You will learn how companies finance merger and acquisition decisions, including leveraged buyouts, and how to incorporate large changes in leverage in standard valuation models.
ofrecido por
Programa Especializado - Gestión financieraUniversidad de Illinois en Urbana-ChampaignAcerca de este Curso
50,504 vistas recientes
Resultados profesionales del estudiante
33%
comenzó una nueva carrera después de completar estos cursos
40%
consiguió un beneficio tangible en su carrera profesional gracias a este curso
25%
consiguió un aumento de sueldo o ascenso
Certificado para compartir
Obtén un certificado al finalizar
100 % en línea
Comienza de inmediato y aprende a tu propio ritmo.
Curso 6 de 7 en
Fechas límite flexibles
Restablece las fechas límite en función de tus horarios.
Aprox. 20 horas para completar
Inglés (English)
Subtítulos: Inglés (English), Coreano
Habilidades que obtendrás
Risk ManagementCorporate FinanceMergers And Acquisitions (M&A)Debt
Resultados profesionales del estudiante
33%
comenzó una nueva carrera después de completar estos cursos
40%
consiguió un beneficio tangible en su carrera profesional gracias a este curso
25%
consiguió un aumento de sueldo o ascenso
Certificado para compartir
Obtén un certificado al finalizar
100 % en línea
Comienza de inmediato y aprende a tu propio ritmo.
Curso 6 de 7 en
Fechas límite flexibles
Restablece las fechas límite en función de tus horarios.
Aprox. 20 horas para completar
Inglés (English)
Subtítulos: Inglés (English), Coreano
ofrecido por
Universidad de Illinois en 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.
Comienza a trabajar para obtener tu maestría
Este curso es parte del Master of Business Administration (iMBA) completamente en línea de Universidad de Illinois en Urbana-Champaign.
Si eres aceptado en el programa completo, tus cursos cuentan para tu título.
Programa - Qué aprenderás en este curso
1 hora para completar
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.
1 hora para completar
2 videos (Total 13 minutos), 4 lecturas, 1 cuestionario
2 videos
Welcome to Corporate Finance II: Financing Investments and Managing Risk11m
4 lecturas
Syllabus10m
About the Discussion Forums10m
Glossary10m
Getting to Know Your Classmates10m
1 ejercicio de práctica
Orientation Quiz30m
4 horas para completar
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.
4 horas para completar
12 videos (Total 122 minutos), 2 lecturas, 3 cuestionarios
12 videos
Issuing Debt and Equity – The Mechanics11m
Should a Company Issue Debt or Equity?9m
Two Misconceptions8m
Debt Increases Systematic Risk10m
Evidence From the Field: Which Type of Capital Do Firms Prefer?9m
The Effect of Leverage On Taxes and Profits7m
Leverage and Personal Taxes9m
Leverage and the Risk of Financial Distress9m
The Trade-off Theory of Capital Structure7m
Analog Outfitters30m
1-11: Module 1 Review3m
2 lecturas
Module 1 Overview10m
Module 1 Readings10m
3 ejercicios de práctica
Practice Quiz 130m
Practice Quiz 230m
Module 1 Quiz30m
5 horas para completar
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.
5 horas para completar
12 videos (Total 110 minutos), 2 lecturas, 5 cuestionarios
12 videos
Pricing Debt: Yield to Maturities, and Default Probabilities12m
Credit Ratings: Determinants and Implications12m
Credit Default Swaps10m
The Many Different Types of Debt8m
Bank or Market Financing?13m
Do Dividends and Share Repurchases Affect Firm Value?9m
Main Factors Driving Payout Decisions8m
Dividends or Repurchases?11m
2-10: Module 2 Review2m
Assignment 1 Overview1m
Assignment 1 Discussion16m
2 lecturas
Module 2 Overview10m
Module 2 Readings10m
4 ejercicios de práctica
Practice Quiz 130m
Practice Quiz 230m
Practice Quiz 330m
Module 2 Quiz30m
3 horas para completar
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.
3 horas para completar
11 videos (Total 96 minutos), 2 lecturas, 3 cuestionarios
11 videos
Good and Bad Reasons to Hedge9m
Forward Contract6m
Futures Contracts9m
Hedge Ratios and Imperfect Hedging7m
Liquidity as a Substitute for Hedging12m
Bilateral Contracts9m
Operational Hedging10m
Currency Risk and the Cost of Capital13m
Adjusting the Cost of Capital for International Projects11m
3-11 Module 3 Review3m
2 lecturas
Module 3 Overview10m
Module 3 Readings10m
3 ejercicios de práctica
Practice Quiz 130m
Practice Quiz 230m
Module 3 Quiz30m
6 horas para completar
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.
6 horas para completar
14 videos (Total 158 minutos), 2 lecturas, 5 cuestionarios
14 videos
Means of Payment in M&A16m
Capital Structure and Payout Policy in M&A Part I12m
Capital Structure and Payout Policy in M&A Part II12m
Financing Private Equity Deals Part I8m
Financing Private Equity Deals Part II11m
Leveraged Buyout (LBO) Modeling Part I8m
Leveraged Buyout (LBO) Modeling Part II16m
Financing R&D Investments8m
Risk Management for R&D Projects10m
Nona Inc.28m
4-11: Module 4 Review2m
Assignment 2 Overview1m
Assignment 2 Discussion16m
2 lecturas
Module 4 Overview10m
Module 4 Readings10m
4 ejercicios de práctica
Practice Quiz 130m
Practice Quiz 230m
Practice Quiz 330m
Module 4 Quiz30m
29 minutos para completar
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.
29 minutos para completar
2 videos (Total 19 minutos), 1 lectura
1 lectura
Congratulations!10m
Reseñas
Principales reseñas sobre CORPORATE FINANCE II: FINANCING INVESTMENTS AND MANAGING RISK
por RO1 de mar. de 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.
por DB26 de jun. de 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.
por AA10 de ene. de 2020
Excellent course that gives excellent knowledge and directions to move in the industry. Professor makes materials easy understandable and gives his advice, that can be implemented in the future.
por FR13 de jun. de 2020
Professor Heitor Almeida makes this course practical by using real world simplified data. The examples helped me to comprehend the concepts and get a deep understanding of corporate finance
Acerca de Programa especializado: Gestión financiera
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.
Preguntas Frecuentes
¿Cuándo podré acceder a las lecciones y tareas?
El acceso a las clases y las asignaciones depende del tipo de inscripción que tengas. Si tomas un curso en modo de oyente, verás la mayoría de los materiales del curso en forma gratuita. Para acceder a asignaciones calificadas y obtener un certificado, deberás comprar la experiencia de Certificado, ya sea durante o después de participar como oyente. Si no ves la opción de oyente:
- es posible que el curso no ofrezca la opción de participar como oyente. En cambio, puedes intentar con una Prueba gratis o postularte para recibir ayuda económica.
- Es posible que el curso ofrezca la opción 'Curso completo, sin certificado'. Esta opción te permite ver todos los materiales del curso, enviar las evaluaciones requeridas y obtener una calificación final. También significa que no podrás comprar una experiencia de Certificado.
¿Qué recibiré si me suscribo a este Programa especializado?
Cuando te inscribes en un curso, obtienes acceso a todos los cursos que forman parte del Programa especializado y te darán un Certificado cuando completes el trabajo. Se añadirá tu Certificado electrónico a la página Logros. Desde allí, puedes imprimir tu Certificado o añadirlo a tu perfil de LinkedIn. Si solo quieres leer y visualizar el contenido del curso, puedes auditar el curso sin costo.
Is financial aid available?
Sí, Coursera ofrece ayuda económica a los estudiantes que no pueden pagar la tarifa. Solicítala haciendo clic en el enlace de Ayuda económica que está debajo del botón “Inscribirse” a la izquierda. Se te pedirá que completes una solicitud. Recibirás una notificación en caso de que se apruebe. Deberás completar este paso para cada uno de los cursos que forman parte del Programa especializado, incluido el proyecto final. Obtén más información.
¿Tienes más preguntas? Visita el Centro de Ayuda al Alumno.
