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Finance Project (CF30005)

General information

Type:

 OB

Curs:

 1

Period:

 S semester

ECTS Credits:

 3 ECTS

Teaching Staff:

Group Teacher Department Language
Sec: A Gloria Batllori Lloveras Economía, Finanzas y Contabilidad ENG
Sec: A Petya Platikanova Economía, Finanzas y Contabilidad ENG

Group Teacher Department Language
Sec: B Gloria Batllori Lloveras Economía, Finanzas y Contabilidad ENG
Sec: B Petya Platikanova Economía, Finanzas y Contabilidad ENG

Group Teacher Department Language
Sec: C Gloria Batllori Lloveras Economía, Finanzas y Contabilidad ENG
Sec: C Petya Platikanova Economía, Finanzas y Contabilidad ENG

Prerequisites

This a Core Course for MSc in Finance Students.

COURSE CONTRIBUTION TO PROGRAM

The Finance Project is a hand-on activity which enable students to better integrate the concepts and tools acquired in other courses of the Master program (Financial Analysis and Reporting, Investments, Financial Modelling and Corporate Valuation). Students will be requested to analyze and valuate a publicly listed company, prepare a financial report and participate in a simulation game (a negotiation).

Course Learning Objectives

- To selectively apply concepts and tools in performing financial analysis and valuation;
- To capably select the most relevant information in a rich information environment (i.e., management report, third-party analysis, financial press, etc.);
- To elaborate a clear, concise and informative financial report with the main findings after selecting the most relevant pieces of information;
- To integrate concepts and tools in analyzing market conditions and metrics into the financial analysis and valuation of a actively traded firm;
- To capably employ various sources of financial information, including Bloomberg and Eikon databases, in elaborating the financial analysis and valuation;
- To develop writing (Report) and communication skills (Simulation game).

CONTENT

1. Financial Report

The Financial report has two main sub-parts: (1) Financial Analysis and (2) Valuation. The Financial Analysis sub-part should analyze a firm¿s business strategy in relation to key financial accounts and performance/risk metrics. The financial analysis should expose both advantages and challenges of operating in a particular industry, as well as the management strategy in sustaining (strengthening) a firm¿s competitive position. The evolution of a firm¿s risk profile and financial performance over the last five years is required. The financial analysis is expected to be an integrative part of a firm¿s valuation, which comprises the second sub-part of the financial report. Different approaches to valuation should be considered and a recommendation buy/hold/sell should be issued.

2. Simulation

The simulation will represent a conference call. Three different roles will be randomly assigned to the participating groups (role 1: "financial analysts"; role 2: "management"; role 3: "capital market/sophisticated investors"). Following a presentation from the management team, financial analysts will have the opportunity to ask specific questions, which should help them elaborate more precise forecasts. The market/investors will observe the conference call and react to the news/clarifications released during the conference call. Short reports after the conference call will be submitted by the financial analysts (group) and the market/investors (group), explaining any modification demanded following the call.

Methodology

ASSESSMENT

ASSESSMENT BREAKDOWN

Description %
Financial Report 80
Simulation 20

Assessment criteria

Different activities will be scheduled during the term to support the activities of the finance project. Such activities include: information sessions, training sessions (Bloomberg and other data sources), and tutorial sessions.

The teamwork is part of the learning process. We expect that all members of the group participate in the elaboration of the report and during the simulation of a negotiation. The decision about "role-playing" in the simulation and the distribution among members should be taken by each group.

The final grading of the Project will be determined in two steps:

A. Initial Group Grade (GG) composed of:
1. Finance report: 80%, including analysis sub-report (40%)
and valuation sub-report (40%)
2. Simulation: 20 %

B. Final Individual Grade (IG). On the basis of a peer evaluation, the final Individual Grade will be calculated.

Important remarks:

1. A passing mark in the GG implies a minimum grade of 5 in the IG; A failing mark in the GG implies a maximum grade of 4.9 in the IG.
2. In case of a failing mark in the GG, professors will demand a review and resubmit of those parts of the project that they consider should be significantly improved. The professors may ask the new report(s) to be done individually.

Timetable and sections

Group Teacher Department
Sec: A Gloria Batllori Lloveras Economía, Finanzas y Contabilidad
Sec: A Petya Platikanova Economía, Finanzas y Contabilidad

Timetable Sec: A

From 2018/2/7 to 2018/3/14:
Each Wednesday from 14:00 to 17:00. (Except: 2018/2/21)

From 2018/3/22 to 2018/4/4:
Each Thursday from 8:45 to 11:45. (Except: 2018/3/29)
Each Wednesday from 14:00 to 17:00. (Except: 2018/3/28)

Thursday 2018/4/12 from 15:30 to 18:30.

Group Teacher Department
Sec: B Gloria Batllori Lloveras Economía, Finanzas y Contabilidad
Sec: B Petya Platikanova Economía, Finanzas y Contabilidad

Timetable Sec: B

From 2018/2/5 to 2018/3/19:
Each Monday from 14:00 to 17:00.

From 2018/4/4 to 2018/4/12:
Each Wednesday from 9:00 to 12:00. (Except: 2018/4/11)
Each Thursday from 15:30 to 18:30. (Except: 2018/4/5)

Group Teacher Department
Sec: C Gloria Batllori Lloveras Economía, Finanzas y Contabilidad
Sec: C Petya Platikanova Economía, Finanzas y Contabilidad

Timetable Sec: C

From 2018/2/7 to 2018/3/19:
Monday and Wednesday from 9:00 to 12:00. (Except: 2018/2/12, 2018/2/19, 2018/2/26, 2018/3/5 and 2018/3/12)

From 2018/4/5 to 2018/4/12:
Each Thursday from 15:30 to 18:30.