3 good reasons to study International Business with Law at Salford:
- Develop your knowledge and skills to manage complex financial situations at a global level
- Equip yourself for a career in the rapidly expanding international corporate finance industry
- Learn in an internationally-orientated environment with access to a global network of like-minded professionals
This course gives you the opportunity to develop a detailed understanding of the practical applications of modern finance theories in the financial world. You will learn from specialist staff with expertise in accounting, finance, economics and management. On completion of your course you will be able to apply your skills in areas including valuation, investment and financial decision-making, risk management and derivatives, financial instruments and markets, mergers and acquisitions, and corporate restructuring in developed and emerging markets. You will also be able to make key financial and strategic decisions in the daily operations of any organisation. These qualities are highly prized by international corporations.
Duration
MSc (Minimum 12 months, maximum three years)
Course Details
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Corporate and Quantitative Finance
In this module, you will critically assess modern corporate governance in light of the recent financial crisis and review the ethical issues in running modern firms. You will also critically assess modern capital structure theory, the risks and opportunities involved in mergers and acquisitions and the limitations and applications of statistical methods in finance.
Indicative Syllabus Outline
- Corporate governance
- Professional standards and practice
- Ethical practices
- Dividend policy
- Capital investment decisions
- Business and financial risk
- Capital structure decisions
- Working capital management
- Mergers and acquisitions
- Corporate restructuring
- Probability distributions and descriptive statistics
- Sample and estimation
- Hypothesis testing
- Correlation and regression
- Time-series analysis
Equity Valuation and Financial Statement Analysis
This module involves the evaluation of the theoretical basis of modern equity valuation and the concepts behind financial reporting. You will examine the impact of market and accounting based factors on the performance of firm equity value and devise strategies to minimise the risks associated with equity valuation.
Indicative Syllabus Outline
- Different category of equity securities and their characteristics
- Equity markets: characteristics and institutions
- Types of fixed-income securities and their characteristics
- Fixed-income markets: characteristics and institutions
- Equity portfolio benchmarks
- Valuing of individual equity securities
- Fundamental analysis by sector, industry and company
- Closely held companies and thinly traded securities
- Equity market valuation and return analysis
- Equity portfolio management strategies
- Financial reporting system
- Analysis of principal financial statements
- Financial reporting quality
- Analysis of inventories and long-lived asset
- Analysis of taxes and debt
- Analysis of off-balance-sheet assets and liabilities
- Analysis of pensions, stock compensation, and other employee benefits
- Analysis of inter-corporate investments
- Analysis of business combinations and global operations
- Ratio and financial analysis
International Finance and Corporate Financial Strategy
You will examine the impact of factors such as exchange rates, inflation rates and interest rates on the performance of firms to assess their significance in decision making in an international context. You will explore the most important issues in corporate finance and critically evaluate principles and practices guiding the financial management of multinational enterprise.
Indicative Syllabus Outline
- Globalisation and the multinational firm
- International monetary system
- Balance of payments
- The market for foreign exchange
- International parity relationships
- The derivative market and hedging strategies
- Foreign direct investment
- International capital budgeting
- International portfolio investment and diversification
- Multinational treasury management
- International corporate finance and governance
- Valuation in emerging financial markets
Risk, Portfolio and Investment Analysis
Risk Portfolio and Investment Analysis aims to help you understand and apply the general principles behind modern risk management approaches. In this module, you will devise strategies to use modern portfolio management approaches and critically evaluate the limitations of modern statistical techniques in making financial decisions.
Indicative Syllabus Outline
- Modern portfolio theory
- Managing individual and family investment portfolios
- Managing institutional management portfolios
- Alternatives methods of selecting investment managers
- Economic analysis of capital markets
- Impact of taxation on portfolio set up
- Asset allocation
- Portfolio construction and re-adjustment of portfolios
- Performance evaluation of portfolios
- Risk reward relationship
- Ways of measuring risk
- Market risk
- Credit risk
- Interest rate risk
- Hedging risk
- Statistical methods to measure risk
Business Innovation Project
Dissertation: a conventional dissertation of 12,000 to 15,000 words, consisting of research question, aims and objectives, rationale for undertaking the study, literature review, research methodology, analysis of findings, conclusions and recommendations