Capital markets & investment banking

Company Valuation (high-level review of main valuation techniques & methods), Debt & Equity Capital Markets, M&A processes, LBO analysis

This course explores a broad array of bank and capital markets structures articulated around the topics of company valuation and corporate financing. As such, the course examines a comprehensive set of financial situations that arise in companies and is designed to provide students with a practical understanding of such topics like company valuation (reviewing different valuation techniques), initial public offering (IPO) and rights issues, bond offerings, syndicated lending, mergers and acquisitions (M&A). Other more specific financing structures such as leverage-buy-out (LBO) are also reviewed.

The course draws to a large extent upon analytical techniques provided in previous Finance courses, deepens and extends the core theory introduced in those courses by examining applications. Course prerequisites need to be strictly adhered to (GEST S408 for INGE  & GEST S410 for BusEco)

Cours pré-requis

After an introductory session about investment banking, each of the 4 big chapters (Valuation, Capital Markets, M&A & LBOs) will be introduced through a theoretical & concepts review session. It will then be followed by the case method meaning that a case study in group is to be prepared in writing for each of the chapters and will form the basis for a class presentation & discussion. Appropriate background readings will be provided to students who are also encouraged to perform their own research if deemed appropriate. Students are expected to be prepared for each class discussion.
It is essential that students participate in the groups and submit the cases as these will represent 50% of the final grade (whether in first or second session), the other 50% being an individual oral exam. 
 

Références, bibliographie et lectures recommandées

Brealey R.A., Myers S.C., Principles of Corporate Finance, Mac Graw Hill

Rosenbaum J., Pearl J., Investment Banking, Wiley Finance

Support(s) de cours

• Université virtuelle

Informations complémentaires

The course consists 9 sessions of 3 hours each and additionally requires preparation of cases in group

Contacts

Christian.de.Haaij@ulb.be

Campus

Solbosch

Méthode(s) d'évaluation

• Examen oral

Examen oral

Construction de la note (en ce compris, la pondération des notes partielles)

Case written preparation, class participation & case presentation (50%)
Final individual oral examination (50%)

Langue(s) d'évaluation

• anglais