Identifying Data 2021/22
Subject (*) Finance Theory Code 611G02021
Study programme
Grao en Administración e Dirección de Empresas
Descriptors Cycle Period Year Type Credits
Graduate 1st four-month period
 Third Obligatory 6
Language
Spanish
Teaching method Face-to-face
Prerequisites
Department Empresa
Coordinador
Iglesias Antelo, Susana
 E-mail
susana.iglesias.antelo@udc.es
Lecturers
Iglesias Antelo, Susana
Piñeiro Sanchez, Carlos
Vizcaino Gonzalez, Marcos
 E-mail
susana.iglesias.antelo@udc.es
carlos.psanchez@udc.es
marcos.vizcaino@udc.es
Web http://moodle.udc.es
General description Esta materia está enfocada á análise da toma de decisións en materia de financiamento empresarial e de investimento financeiro.
É complementaria das materias "Teoría do Investimento", do curso anterior, e "Planificación Financeira", do curso seguinte. No conxunto das tres trátanse os temas máis importantes da dirección financeira da empresa.
Contingency plan 1. Modificacións nos contidos: ningunha.

2. Metodoloxías
*Metodoloxías docentes que se manteñen: todas.

*Metodoloxías docentes que se modifican: adáptanse todas a formato virtual.

3. Mecanismos de atención personalizada ao alumnado: contémplase o seu desenvolvemento online en calquera escenario, incluído o presencial.

4. Modificacións na avaliación: cando sexa necesario levarase a cabo a través de Teams e Moodle.

*Observacións de avaliación: mantéñense.

5. Modificacións da bibliografía ou webgrafía: ningunha.

Study programme competencies
Code Study programme competences
A1 Manage an enterprise or small organization, understanding their competitive and institutional position and identifying their strengths and weaknesses
A2 Integrate in any functional area of micro-firms or SMEs and perform fluently any management task commissioned
A3 Evaluate and foreseeing, from relevant data, the development of a company.
A4 Elaborate advisory reports on specific situations of companies and markets
A5 Write projects about specific functional areas (e.g. management, marketing, financial) of the company
A6 Identify the relevant sources of economic information and to interpret the content.
A8 Derive, based on from basic information, relevant data unrecognizable by non-professionals.
A9 Use frequently the information and communication technology (ICT) throughout their professional activity.
A10 Read and communicate in a professional environment at a basic level in more than one language, particularly in English
A11 To analyze the problems of the firm based on management technical tools and professional criteria
B1 CB1-The students must demonstrate knowledge and understanding in a field of study that part of the basis of general secondary education, although it is supported by advanced textbooks, and also includes some aspects that imply knowledge of the forefront of their field of study
B2 CB2 - The students can apply their knowledge to their work or vocation in a professional way and have competences typically demostrated by means of the elaboration and defense of arguments and solving problems within their area of work
B3 CB3- The students have the ability to gather and interpret relevant data (usually within their field of study) to issue evaluations that include reflection on relevant social, scientific or ethical
B4 CB4-Communicate information, ideas, problems and solutions to an audience both skilled and unskilled
B5 CB5-Develop skills needed to undertake further studies learning with a high degree of autonomy
B6 CG1-Perform duties of management, advice and evaluation in business organizations
B7 CG2-Know how to use the concepts and techniques used in the various functional areas of the company and understand the relationships between them and with the overall objectives of the organization
B8 CG3- Know how to make decisions, and, in general, assume leadership roles.
B9 CG4-Learn to identify and anticipate opportunities, allocate resources, organize information, select and motivate people, make decisions under conditions of - uncertainty, achieve the proposed objectives and evaluate results
B10 CG5-Respect the fundamental and equal rights for men and women, promoting respect of human rights and the principles of equal opportunities, non-discrimination and universal accessibility for people with disabilities.
C1 Express correctly, both orally and in writing, in the official languages of the autonomous region
C4 To be trained for the exercise of citizenship open, educated, critical, committed, democratic, capable of analyzing reality and diagnose problems, formulate and implement knowledge-based solutions oriented to the common good
C5 Understand the importance of entrepreneurial culture and know the means and resources available to entrepreneurs
C6 Assess critically the knowledge, technology and information available to solve the problems and take valuable decisions
C7 Assume as professionals and citizens the importance of learning throughout life.
C8 Assess the importance of research, innovation and technological development in the economic and cultural progress of society.

Learning aims
Learning outcomes Study programme competences
Know and integrate the financial logic to apply in making financial decisions A1
A2
A3
A6
A8
A11
 B2
B6
B8
B10
 C6
Know the basic financial theories on capital markets and understand their practical implications A6
A8
A10
A11
 B1
B3
B5
B7
 C4
C6
C8
Know how to value a financial investment A2
A4
A5
A8
A11
 B4
B9
 C1
C6
Know how to develop financial models and apply computer tools A9
A11
 B6
 C5
C6
C7

Contents
Topic Sub-topic
PART I: BUSINESS FINANCING 1. Funding sources and their costs: the cost of capital
2. Capital structure: the firm's debt policy
PART II: PORTFOLIO SELECTION AND CAPITAL ASSET PRICING 1. Return and risk
2. Optimal portfolio construction
3. Capital asset pricing
PART III: FINANCIAL DERIVATIVES 1. Futures and options: valuation and investment strategies
2. Swaps

Planning
Methodologies / tests Competencies Ordinary class hours Student’s personal work hours Total hours
Guest lecture / keynote speech A10 B1 B2 B5 B10 C4 C5 C6 C7 C8 18 36 54
Problem solving A1 A2 A3 A4 A5 A6 A8 A11 B2 B3 B4 B5 B6 B7 B8 B9 C1 22 44 66
Mixed objective/subjective test A1 A4 A6 A8 A11 B2 B3 B4 B6 B7 B8 C1 C4 2 13 15
Seminar A3 A6 A8 A9 A11 B2 B3 B7 4 2 6
Mixed objective/subjective test A1 A4 A6 A8 A11 B2 B3 B4 B6 B7 B8 C1 C4 2 6 8
 
Personalized attention 1 0 1
 
(*)The information in the planning table is for guidance only and does not take into account the heterogeneity of the students.

Methodologies
Methodologies Description
Guest lecture / keynote speech Theoretical-practical presentation of program topics
Problem solving Practical tasks: application of concepts and theory to problem solving
Mixed objective/subjective test Theoretical-practical tests that may be of different types (test, short answer, long answer ...) and that are part of the continuous assessment
Seminar Small-group tutoring along the semester
Mixed objective/subjective test Theoretical-practical exam on the program contents

Personalized attention
Methodologies
Mixed objective/subjective test
Mixed objective/subjective test
Seminar
Description
Tutoring in small groups will be held on the dates set during the semester. They can be used, totally ou partially, for group work activities.

Individual tutoring for all the students will also be held through Teams or face-to-face, as appropriate, and in tutoring hours published at the beginning of each semester. Students are recommended to contact their teacher in advance by email to make an appointment, indicating the subject and the group to which they belong, in order to facilitate the management and effectiveness of tutoring.

Assessment
Methodologies Competencies Description Qualification
Problem solving A1 A2 A3 A4 A5 A6 A8 A11 B2 B3 B4 B5 B6 B7 B8 B9 C1 During the class period, and within the period established by the teaching staff, a group work will be developed that will account for 10% of the final grade (maximum 1 point) and that is part of the continuous assessment. Work not done scores as zero. 10
Mixed objective/subjective test A1 A4 A6 A8 A11 B2 B3 B4 B6 B7 B8 C1 C4 During the class period, several continuous assessment mixed tests will be carried out, which will not be liberatory and will together account for 30% of the final grade (maximum 3 points). A test not done scores as zero. 30
Mixed objective/subjective test A1 A4 A6 A8 A11 B2 B3 B4 B6 B7 B8 C1 C4 Global exam for the 60% of the final grade that can be obtained (maximum 6 points). It will be held on the first opportunity (January in the degree in BMA and May / June in the combined program of degrees in BMA and Law) and on the second opportunity (July) on the dates set by the Faculty Board. 60
 
Assessment comments

A) ASSESSMENT REGULATIONS:



  1. Assessment conditions: it is forbidden to access the exam rooms with any device turned on that allows communication with the outside and / or information storage. Regarding the commission of fraud and disciplinary responsibilities, the provisions of article 14 of the "Normas de avaliación,
    revisión e reclamación das cualificacións dos estudos de grao e
    mestrado universitario" of the UDC will be applied.
  2. Identification: each student must prove his/her personality in accordance with current regulations.

B) TYPES OF GRADING:

  1. The grade of NOT PRESENTED will only be awarded to students whose participation in assessment activities has a weight of less than 20% on the final grade, regardless of the grade achieved.
  2. The exposed evaluation also applies to students with recognition of part-time dedication and academic dispense of  exemption from attendance.

C) ASSESSMENT OPPORTUNITIES:



  1. The evaluation criteria previously indicated in this section will be applied both in the first and the second assessment opportunities.
  2. The advanced assessment opportunity will take place on the date established by the Faculty Board and the exam will be a mixed test of all the subject contents and competencies and for 100% of the final grade.

Sources of information
Basic www.aebanca.es (). Asociación Española de Banca.
www.bde.es (). Banco de España.
www.bolsamadrid.es (). Bolsa de Madrid.
www.cnmv.es (). Comisión Nacional del Mercado de Valores.
Piñeiro, Carlos; De Llano, Pablo (2010). Dirección financiera. Un enfoque centrado en valor y riesgo. Madrid: Delta
www.enisa.es (). Financiación pública para pymes.
Pindado, Julio (dir.) (2012). Finanzas empresariales. Madrid: Paraninfo. Material en www.paraninfo.es/catalogo/9788497328951/finanzas-empresariales
www.ico.es (). Instituto de Crédito Oficial.
www.igape.es (). Instituto Gallego de Promoción Económica.
Boedo, Lucía (2009). Las fuentes de financiación y su coste. A Coruña: Netbiblo. Descargable en ruc.udc.es/dspace/handle/2183/11816
www.bmegrowth.es (). Mercado de capitales para pymes.
www.meff.es (). Mercado Español de Derivados Financieros.
oikonomicon.udc.es (2020). Página del profesor Carlos Piñeiro Sánchez.
Brealey, Richard; Myers, Stewart; Allen, Franklin (2020). Principios de finanzas corporativas. 13ª ed.. Madrid: McGraw-Hill. Accesible en formato electrónico para lectura en www.ingebook.com

Complementary Elvira, Óscar; Puig, Xavier (2015). Comprender los productos derivados: futuros, opciones, productos estructurados, CAPs, Floors, Collars, CFDs.... Barcelona: Profit
Suárez, Andrés (2014). Decisiones óptimas de inversión y financiación en la empresa. 22ª ed.. Madrid: Pirámide
Doldán, Félix (2003). Dirección financiera de la empresa. Santiago: Tórculo
Piñeiro, Carlos; De Llano, Pablo (2011). Finanzas empresariales: teoría y modelos con hoja de cálculo. Santiago: Andavira
Hull, John C. (2014). Introducción a los mercados de futuros y opciones. 8ª ed.. México: Pearson Educación
Álvarez, Begoña; Boedo, Lucía (2011). La financiación empresarial: exposición teórica y análisis de la operativa. Estudio de casos reales desarrollados en Excel. Barcelona: Inforbook's
Valls, María del Carmen; Cruz, Salvador (2012). Operaciones financieras avanzadas. Madrid: Pirámide
Piñeiro, Carlos; De Llano, Pablo (2009). Principios y modelos de dirección financiera. Santiago: Andavira


Recommendations
Subjects that it is recommended to have taken before
Financial Operations Analysis/611G02004
Statistics I/611G02006
Financial Accounting I/611G02013
Statistics and Introduction to Econometrics/611G02014
Financial Accounting II/611G02018
Investment Theory/611G02020

Subjects that are recommended to be taken simultaneously

Subjects that continue the syllabus
Financial Planning/611G02034

Other comments
  • The delivery of documentary works in this subject:
    • It will be requested in virtual format and / or computer support
    • It will be done through Moodle, in digital format, not needing printing
  • The importance of ethical principles related to sustainability values in personal and professional behavior must be taken into account.
  • Work will be done to identify and modify prejudices and sexist attitudes and the environment will be influenced to modify them and promote values of respect and equality.
  • The full integration of students who, for physical, sensory, psychic or sociocultural reasons, experience difficulties to an adequate, equal and profitable access to university life, will be facilitated.


(*)The teaching guide is the document in which the URV publishes the information about all its courses. It is a public document and cannot be modified. Only in exceptional cases can it be revised by the competent agent or duly revised so that it is in line with current legislation.