Lecturer(s)
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Course content
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Company Finance II. 1. Objectives, principles and specifics of investment decision-making and long-term financing. Investment projects and pre-investment preparation. 3. Cash flow planning of investment projects and methods of their definition. 4. Cost criteria for project selection. 5. Yield methods for evaluating the effectiveness of investments. 6. Profit-based efficiency evaluation methods. 7. Required profitability. The influence of taxes, interest and inflation on investment decisions. 8. Risk and its measurement. The effect of risk on the time value of money. 9. Application of risk in investment decisions. 10. Financial investment of the company (capital asset valuation model, diversification, models risk premiums). 11. Sources of long-term financing and cost of capital. 12. Optimal capital structure. KS indifference point. 13. Leverage, operating leverage, overall leverage - the impact on the optimal capital structure. 14. Internal sources of financing. 15. External sources of financing corporate investments. 16. Leasing financing of investments. 17. Company valuation. 18. Collective investment and mutual funds. International finance: 1. Balance of payments of the country, its definition, meaning and structure. 2. Foreign exchange market, definition, function, organization of foreign exchange market, subjects on foreign exchange market. 3. The law of one price and the mechanism of commodity market arbitration. 4. Fisher's relations, uncovered interest rate parity and uncovered interest rate arbitrage. 5. Foreign currency forward contract. Valuation of foreign exchange forward contracts. 6. Currency futures contracts. Basic differences between forward and futures contracts. 7. Currency option contracts. Option market structure. 8. Foreign exchange exposure. Alternative foreign exchange exposure rates. Hedging foreign exchange exposure. 9. Foreign direct investment (FDI). Explanation, forms and financing of FDI. 10. International portfolio investments. 11. International monetary and financial cooperation.
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Learning activities and teaching methods
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unspecified
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Learning outcomes
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Prerequisites
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unspecified
KUF/FNP2 and KUF/MFN
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Assessment methods and criteria
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unspecified
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Recommended literature
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BALDWIN, R., WYPLOSZ, CH. Ekonomie evropské integrace. 4 vyd. (kapitola 17). Praha: Grada, 2013.
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Mandel, M., & Durčáková, J. Mezinárodní finance a devizový trh. Praha: Management Press, 2020.
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Mařík, M. Metody oceňování podniku: proces ocenění, základní metody a postupy. Praha: Ekopress, 2018.
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VALACH, J. Investiční rozhodování a dlouhodobé financování. Praha: Ekopres, 2011.
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