INSTITUTO TECNOLOGICO
Y DE ESTUDIOS SUPERIORES DE MONTERREY
CAMPUS CIUDAD DE
MEXICO
Fz95018. Financial Planning
Objetive :
The students will
learn and practice with real cases, many kinds of skills and knowledge of Financial
Planing in diferents enviroments of the mexican companies.
Summary Program :
1. Capital Budgeting Uncertainty : The Multiperiod Case.
2. Capital Structure and the Cost of Capital : Theory
3. Capital Structure : Empirical Evidence3 and Applications
4. Dividend Policy : Theory
5. Dividend Policy : Empirical Evidence and Applications.
6. The Economic of Leasing
7. Applies Issues in Corporate Finance
8. Mergers, Restructuring, and Corporate Control : Theory
9. Mergers and Restructuring : Tests and Applications.
10. Exchange Rate Systems and Parity Conditions.
- International Financial Management :
Tests and Implications
Detail Program :
1. Capital Budgeting Uncertainty : The Multiperiod Case.
- Multiperiod Capital Budgeting
with "Imperfect" Markets for Physical Capital.
- Examination of Admissible.
- Multiperiod Capital Asset Pricing
World.
- Arbitrage Pricing Theory for
Multiperiod Capital Budgeting
- Comparing Risky Costs Structures.
- Abandonment Value.
2. Capital Structure and the Cost of Capital : Theory
- Value of the Firm Given Corporate
Taxes
- Value of the firm in a World
with Both Personal and Corporate Taxes.
- Introducing Risk -Synthesis of
M-M and CAPM.
- Cost of Capital with Risky Debt.
- Maturity Structure of Debt.
- Effect of Other Financial Instruments
on the Cost of Capital.
3. Capital Structure : Empirical Evidence3 and Applications
- Possible Reasons for an "Optimal"
Mix of Debt and Equity.
- Empirical Evidence on Capital
Structure.
- Cost of Capital
4. Dividend Policy : Theory
- The Irrelevance of Dividend Policy
in a World without Taxes.
- Valuation.
- Growth.
- Dividend Policy.
- Dividend Policy in a World with
Personal and Corporate Taxes.
- Toward a Theory of Optimal Dividend
Policy.
- Other Dividend Policy Issues.
5. Dividend Policy : Empirical Evidence and Applications.
- Behavioral Models of Dividend
Policy.
- Clientele Effects and Ex Date
Effects
- Dividend Announcement Effects
on the Value of the Firm : The Signaling Hypothesis.
- Relationship between Dividends
and Value.
- Corporate Equity Repurchases
via Tender Offer.
- Overview of Empirical Evidence.
- Valuation and Corporate Policy.
6. The Economic of Leasing
- Legal and Accounting Treatment
of Leases.
- Theory of Leasing.
- Empirical Evidence on Leasing
7. Applies Issues in Corporate Finance
- Pension Fund Management.
- Interest Rate Swaps.
- Leverage Buyouts and going Private.
- Executive Compensation Plans
8. Mergers, Restructuring, and Corporate Control : Theory
- Corporate Restructuring and Control.
- Recent Developments in M&A
Activity.
- Theories of M&A Activity.
- Theories of Restructuring.
- Conglomerate Mergers.
9. Mergers and Restructuring : Tests and Applications.
- Tests of Merger and Tender Offer
Returns.
- Studies of Antitrust Cases.
- Corporate Governance.
- Studies of Other Forms or Restructuring.
- Terms of Mergers.
- Managerial Policies in a Valuation
Framework.
10. Exchange Rate Systems and Parity Conditions.
- Importance of International Finance.
- International Financial Mechanism.
- The Shift from Fixed to Flexible
Exchange Rates.
- Balance of Payments Analysis.
- Fundamental Equilibrium.
- Relationships.
11. International Financial Management : Tests and Implications
- International Diversification.
- Asset Pricing Models.
- Exchange Risk and Purchasing
Power Parity.
- Market Efficiency.
- Managerial Aspects of Foreign
Exchange.
- Risks.
- Interest Rate and Currency Swaps.
- Foreign Currency Translation.