In this course you will learn how companies decide on how much debt to take, and whether to raise capital from markets or from banks. You will also learn how to measure and manage credit risk and how to deal with financial distress. You will discuss the mechanics of dividends and share repurchases, and how to choose the best way to return cash to investors. You will also learn how to use derivatives and liquidity management to offset specific sources of financial risk, including currency risks. Finally, You will learn how companies finance merger and acquisition decisions, including leveraged buyouts, and how to incorporate large changes in leverage in standard valuation models. Upon successful completion of this course, you will be able to: • Understand how companies make financing, payout and risk management decisions that create value • Measure the effects of leverage on profitability, risk, and valuation • Manage credit risk and financial distress using appropriate financial tools • Understand the links between payout policies and company performance • Use derivatives and liquidity management to offset financial risks • Pick an appropriate financing package for an M&A or leveraged buyout deal This course is part of the iMBA offered by the University of Illinois, a flexible, fully-accredited online MBA at an incredibly competitive price. For more information, please see the Resource page in this course and onlinemba.illinois.edu.
NG
Interesting information, but the prof goes really fast through examples and doesn't show the actual math...this isn't really helpful for folks that are new to finance.
JC
Though the module 4 is a tough one, I find it comprensive enough in making a good financial decision particularly in understanding the LBO and the M&A. Such learning is very important.
UG
I have really enjoyed this course. I understad much better how my company works now. Corporate finance is an amazing world and this course and this teacher are great
MG
Great Course the teacher is great and he is very dynamic. I am a CFO and I felt I still learned new things from this course.
FR
Professor Heitor Almeida makes this course practical by using real world simplified data. The examples helped me to comprehend the concepts and get a deep understanding of corporate finance
BL
Course contains some difficult concepts. The main benefit is the honors assignments and professor's explanations, which help students understand these topics.
SC
Great course, interesting subjects, and financial insight on strategy and tactics.Real-life exercises analyzed by Heitor Almeida in a very nice way!!!
SX
Fantastic Value Adding Course. Very Practical with a lot of good examples. Excellent conceptual breadth and depth also in this course. Highly recommended.
DS
each topic is nicely explained, real life examples are very fruitful.voice is low during interview, but it was very fruitful and have learnt a-lot.
AR
I have learned a lot in this course. Many topic which i knew very little about were explained in detail with real world examples. Good course to brush up on your skills.
TF
A treasure trove of research based information to inform real-world financial decisions; immediately applicable and relevant!
DB
I didn't realise how much I'd learn in this course. So many concepts I've touched on before and thought I knew a bit about, but in hindsight I really didn't understand, until I completed this course.
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Excellent course that gives excellent knowledge and directions to move in the industry.
Professor makes materials easy understandable and gives his advice, that can be implemented in the future.
Excellent material to drive and support the discussions introduced in the live sessions. Some materials may need a review (particularly wording), but it does not compromise the overall content at all.
Professor Heitor Almeida makes this course practical by using real world simplified data. The examples helped me to comprehend the concepts and get a deep understanding of corporate finance
This is a good introductory course to Corporate Finance, the last subject in the Financial Management Specialisation.
A good investment of time and energy with a few caveats
- I definitely recommend the Ivo Welch book used for recommended reading - but this will take up the time like I mentioned before. It's not necessary to pass but it's important to get a more round picture. The course doesn't follow the order of the book, jumps around quite a lot, still lines up quite well.
- The honors assigmnents are worth the time, make you think in a more organic way than quizzes that tend to be more mechanical.
- Even though it's not mentioned in the requirements, it's definitely useful to take the Investments course first. Or at least have an idea about financial markets, investment instruments (bonds, futures, stocks), some portfolio theory and CAPM. Actually Week4 of that course is a peek into Corporate Finance and I find it a very efficient bridge
This was the most intense and enjoyable courses I've ever taken. Professor Almeida is simply brilliant. He's the type of academic that marries theory with the real world. He's also a first class academic with some great publications. The course provides a great mixture of analysis and then true-to life case work on companies and deals. Be prepared to work But know that you'll come out of this class with a completely solid knowledge of corporate finance. You can't sit back in the class. He challenges you to work and practice and ask questions. I don't know if I've ever learned as much from one class as I did in this one. One thing, usually I speed up my video lectures but I had to slow down my video feeds with Prof. A.! This is the best business class I've ever had.
The course was a real revelation to someone like me who has some exposure to corporate finance in a banking career spanning 36 years. The way concepts like optimal capital structure (Dilution is an Illusion), mergers and acquisitions and hedging were presented speak of the enormous efforts put in to lay out the course to the world wide community of avid learners. Personally, I learnt a lot and hope one day to research the topics crying out for more insights from academecians. Thanks a lot.
I think this course if well structured and very useful! The only suggestion I can give is, I wish when professor is discussing financial numbers on the slides, he can somehow use a pen to point and circle more clearly the number he is talking about. Those financial table can get confusing for someone new to finance, and the discussion may become easier to follow if the slides can be used more similar to a real blackboard.
I didn't realise how much I'd learn in this course. So many concepts I've touched on before and thought I knew a bit about, but in hindsight I really didn't understand, until I completed this course.
Excellent teacher and excellent material filled with real life examples. It was very interesting to study this course,
Excellent material and lecture. I enjoyed the great real life examples and how the theory could be applied.
Great course: I would like to see additional case studies via real world examples via company merger info.
Great and in depth. The use of real world examples and data helps the transfer of theory into practice.
This is a great course and a great addition to Corporate Finance I! Thank you Heitor!
I really enjoyed the corporate finance course professor Almeida taught. He presents a concept, uses examples to demonstrate how to apply the concept, and places perfect amount of quiz to reinforce the learning. The course is also structured flexibly so that one can choose to take the honors peer-graded assignment if time permits, or taking the quiz and reviewing the answers provided by the professor otherwise.
This course complete the topic covered in Part I. It goes more in details with Business cases and explanations, mixing theory and practice. Additionally the exercises combined numerical and explanation of the cases helping to to have a practical but also logical understanding. One of the best course I took on corporate finance, Thank prof. Almeida, hoping to get further courses on corporate finance.
Professor Almeida goes back and forth from theory to real life examples thus allowing to grasp all the concepts he illustrates. If you pair the lectures with some reading (ie. A. Brealey, Stewart C. Myers, Franklin Allen - Principles of Corporate Finance or Jonathan B Berk_ Peter M DeMarzo - Corporate Finance) you have the perfect course
Coming from one with non financial background (architecture)..I surprised myself with this course. The lectures are thorough and very well explained..easy to understand..and Prof Almeida has great personality..I know its a recorded course but i feel like he's already a friend. If I see him in person will definitely say hi and thanks!
I only have thanks and praise for the course. I have been waiting for a course like this for a long time to get the knowledge. The Professor enriches us with their content and experiences, all very secure and convinced, great students and excellent professionalism. Without a doubt, my goals were achieved.
One of the most thorough and fair teachers I have ever had. This course was well out of my wheelhouse, but I felt empowered rather than defeated with each exercise and before I knew it I was conversing about current events that previously would have gone well over my ahead. Prof Almeia is the best!
This is a great course. The Professor delivers the material using real examples. I enjoyed his teaching style and I learned a lot taking this course. I highly recommend Corporate Finance 1 and 2. In fact, this was my favorite class so far in the iMBA program