课堂观摩—CHMB5805Financial Management

This course aims to develop strategic thinking in a global marketing context.  A competitive business simulation called Country Manager constitutes the core of the course.  A mix of lectures, workshops and discussions will provide context and guide you through the simulation.

This course is an introduction to financial management -- how management raises and invests capital so as to create value added for the firm’s owners.

Before we can talk intelligently about specific financial management issues, we need to develop a general understanding of:

•      What we mean by firm value,

•      What the drivers of firm value are and

•      How to measure whether a firm is creating value added for its owners. 

Business transactions in general require current investments with the hope of future payoffs. As such, both time and risk matter -- the timing of the future payoffs and the uncertainty regarding the level of those future payoffs.  Choosing investment opportunities that create value for the firm involves a comparison of the estimated future benefits to the current investment, in light of the time and risks involved.  Hence, before we can turn to specific financial management issues, we need to develop and understand the tools of valuation for valuing costs and benefits while explicitly considering time and risk.

With an understanding of the tools of valuation, we can then consider some major management issues from a financial perspective. Although we will cover more than a dozen issues from the perspective of how they affect the value added created for owners, there are essentially just three categories of issues:

•      how should management best consider the value added impact of current investments generating uncertain future benefits (investment decisions);

•      how should management best consider the value added impact of different options for financing the firm’s investments (financing decisions) and

•      how should management best evaluate its performance relative to creating value added for the firm’s owners (performance analysis).

Part 1

Topics

May 18  08:30-12:00  Course Overview, Finance View of the Firm, Time Value of Money

May 18  13:00-18:00 Time Value of Money (Continued), Investment Decision Metrics

May 19  08:30-12:00 Investor Opportunity Rate

May 19  13:00-17:00 Capital Structure

 

Faculty

DAI Yun

Associate Professor, Finance，Lingnan College, SYSU

Yun Dai is an Associate Professor of Finance at Lingnan College. Before joining Lingnan, she worked at the University of Groningen and Erasmus University Rotterdam. Her research interests mainly lie in corporate finance, debt issues in China, and experimental and behavioral finance. Her studies have been published in the Journal of Financial and Quantitative Analysis, Games and Economic Behavior, Journal of Economic Behavior and Organization, Journal of Economic Dynamics and Control, as well as in Chinese Journals such as Economic Research Journal, Journal of Management World， Journal of Management Sciences in China.  

EDUCATION

2014 Erasmus University Rotterdam & Tinbergen Institute, Ph.D. in Finance

2010 University van Amsterdam & Tinbergen Institute, M.Phil in Finance (with Cum Laude)

2009 Fudan University, Master in Economics

2006 Fudan University, Bachelor in Economics (Outstanding Graduate of Shanghai)

PROFESSIONAL EXPERIENCES

2021-Now, Lingnan College, Associate Professor of Finance

2016-2020, Lingnan College, Assistant Professor of Finance

2014-2016, Erasmus University Rotterdam, Assistant Professor of Finance

2014, University of Groningen, Lecturer of Finance

 

 

Part 2

Topics

May 25  08:30-12:00  

Finance View of the Firm: A Reminder and the Selected Companies

Financial Statements: Separating Operations from Financing

Free Cash Flow: Operating Success Depends On Free Cash Flow

May 25  13:00-18:00 

 

Free Cash Flow: Operating Success Depends On Free Cash Flow (continued)

Financial Planning: Connecting Financing To Operations

Financial Planning: Why Growth Causes the CFO To Scramble

May 26  08:30-12:00 

 

Shareholder Value:  Who Cares?

How Operations Affect Shareholder Value

How Financing Affects Shareholder Value 

May 26  13:00-17:00 

 

Shareholder Value: Why Buyers In M&A Often Lose

Measuring Firm Performance: So Many Options

Measuring Firm Performance: Sorting Out the Mess

 

 

Timothy Nantell

PROFESSOR,Finance, Carlson School of Management

Timothy Nantell has held the following positions with the Carlson School: Acting Dean, Associate Dean of Faculty, Finance Department Chairperson, and Faculty Director of the MBA Program.  He also initiated the Carlson Funds Enterprise. His current research and teaching interests concern valuation models and their application. He has been recognized for teaching excellence in the MBA Program a number of times and was named 'Dedicated Faculty Member of the Year' by the MBA classes of 2002 and 2003. In 2004 he was given an Outstanding Service Award by the Carlson School.

EDUCATION:

BA 1967 Mathematics University of Wisconsin

MBA 1971 Finance University of Wisconsin

PhD 1971 Finance University of Wisconsin

EXPERTISE:

Business, business opportunity and security valuation