Identifying Data 2023/24
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://campusvirtual.udc.gal
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.

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: CORPORATE FINANCE 1. The sources of funding and their costs: the cost of capital
2. An expanded view of sources of funding
3. The cost of capital and the capital structure: the firm's debt policy
PART II: MARKET FINANCE 1. Return and risk. Optimal portfolio construction
2. Capital asset pricing
3. Financial derivatives

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 A2 A3 A4 A6 A8 A11 B7 B6 B4 B3 B2 B1 B10 B9 B8 C1 C4 2 13 15
Seminar A3 A6 A8 A9 A11 B2 B3 B7 4 2 6
Mixed objective/subjective test A1 A2 A3 A4 A6 A8 A11 B7 B6 B4 B3 B2 B1 B10 B9 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
Mixed objective/subjective test Theoretical-practical exam on the program contents

Personalized attention
Methodologies
Mixed objective/subjective test
Mixed objective/subjective test
Seminar
Description
Tutorials in small groups will be face-to-face and held on the dates set during the semester for group work activities.

Individual tutoring will 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
Mixed objective/subjective test A1 A2 A3 A4 A6 A8 A11 B7 B6 B4 B3 B2 B1 B10 B9 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 36% of the final grade (maximum 3,6 points). A test not done will score as zero.
 36
Mixed objective/subjective test A1 A2 A3 A4 A6 A8 A11 B7 B6 B4 B3 B2 B1 B10 B9 B8 C1 C4 Global exam for the 64% of the final grade (maximum 6,4 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) on the dates set by the Faculty Board.

 64
 
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, in general, the provisions of the "Normas de avaliación,
    revisión e reclamación das cualificacións dos estudos de grao e
    mestrado universitario" of the UDC will be applied. In particular, the fraudulent performance of tests or evaluation activities, once verified, will directly imply the grade of failure in the call that is committed: the student will be graded with "suspenso" (numerical grade 0) in the corresponding call of the academic year, whether the commission of the fault occurs in the first opportunity as in the second. To this end, the student’s grade will be modified in the first opportunity report, if necessary.
  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. First assessment opportunity: the evaluation criteria previously indicated in this section will be applied.
  2. Second assessment opportunity: it will be assessed by means of a mixed test (global exam) that will have a weight of 100% in the final grade, unless the application of the same evaluation criteria of the first opportunity results in a higher grade, which shall prevail.
  3. Advanced assessment opportunity: it will be assessed by means of a mixed test for 100% of the final
    grade.

Sources of information
Basic Piñeiro, Carlos; De Llano, Pablo (2010). Dirección financiera. Un enfoque centrado en valor y riesgo. Madrid: Delta
Pindado, Julio (dir.) (2012). Finanzas empresariales. Madrid: Paraninfo. Material en www.paraninfo.es/catalogo/9788497328951/finanzas-empresariales
Boedo, Lucía (2009). Las fuentes de financiación y su coste. A Coruña: Netbiblo. Descargable en ruc.udc.es/dspace/handle/2183/11816
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
CNMV (2006). Qué debe saber de... Opciones y futuros. Guía informativa de la CNMV. 2ª ed.. CNMV

Complementary Brun, Xavier; Moreno, Manuel (2008). Análisis y selección de inversiones en mercados financieros. Barcelona: Profit
Elvira, Óscar; Larraga, Pablo; Puig, Xavier (2017). Comprender la inversión en renta fija a corto y largo plazo. Barcelona: Profit
Elvira, Óscar; Puig, Xavier (2015). Comprender los productos derivados: futuros, opciones, productos estructurados, CAPs, Floors, Collars, CFDs.... Barcelona: Profit
Orden, Olga del (2022). Curso básico de matemática financiera: teoría y ejercicios. Alicante: Delta Publicaciones
Suárez, Andrés (2014). Decisiones óptimas de inversión y financiación en la empresa. 22ª ed.. Madrid: Pirámide
CNMV (s.f.). El mercado de valores y los productos de inversión. Manual para universitarios. CNMV
Aguiar, Inmaculada (coord.) (2012). Finanzas corporativas en la práctica. Madrid: Delta
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
Casanovas, Montserrat; Bertrán, Josep (2015). La financiación de la empresa: cómo optimizar las decisiones de financiación para crear valor. 5ª ed.. Barcelona: Profit
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
CNMV (2006). Qué debe saber de... Los productos de renta fija. 5ª ed.. CNMV


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 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.
  • Work will be done to detect situations of gender discrimination and propose actions and measures to correct them.
  • 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.