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> Formation > Cursus ingénieur

Financial Theory - 4MMTF4

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  • Number of hours

    • Lectures : 33.0
    ECTS : 3.0

Goals

This course is divided in two parts.

The first part aims at presenting the financial mechanisms of the firm. Afirst objective of this partis to present the concepts and tools of investment and financing decisions. The students should then be able to apply these tools on concrete firms’ cases. A second objective of this part is to teach, and to make the students apply, the classical firm valuation methodologies.

The second part deals with fundaments in finance theory: decision theory, utility functions...
Basic concepts for the financial markets will be also presented: equilibrium models, market efficiency, portfolio management.

Contact Ollivier TARAMASCO

Content

Part 1:

  1. Investment and Financing decisions
    1. The investment decision
    2. Investment return
    3. Investment risk
    4. How to finance an investment ?
    5. Trade-off between equity capital and debt
  2. Firm Valuation
    1. Discounted Cash Flows valuation methods
    2. Valuation using multiples

Part2:

  1. Utility functions
    1. Risk premium
  2. The mean-variance approach
    1. Efficient Frontier
    2. Equilibrium models : CAPM


Prerequisites

Some basic notions in mathematics, probability and statistics.

Tests

Exam 100% (50% for each of the two parts of the course)



N1=E1
N2=E2

Additional Information

Curriculum->Financial Engineering->Semester 7

Bibliography

Gestion financière, B. Solnik
Décisions financières et création de valeur, M. Albouy
Principle of corporate finance, Brealey and Myers
Quittard-Pinon : Marchés des capitaux et théorie financière.
Merton : Continuous Time Finance
Briys et Viala : éléments de théorie financière.

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Date of update January 15, 2017

Grenoble INP Institut d'ingénierie Univ. Grenoble Alpes