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by: Ollie Fadel

SeminarinFinancialManagement FIN742

Marketplace > Wright State University > Finance > FIN742 > SeminarinFinancialManagement
Ollie Fadel
GPA 3.86


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Class Notes
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This 8 page Class Notes was uploaded by Ollie Fadel on Thursday October 29, 2015. The Class Notes belongs to FIN742 at Wright State University taught by JamesLarsen in Fall. Since its upload, it has received 47 views. For similar materials see /class/231081/fin742-wright-state-university in Finance at Wright State University.


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Date Created: 10/29/15
III SYLLABUS FIN 742 Seminar in Financial Management Spring Quarter 2009 BASIC INFORMATION Meeting Times Thursday 605920 pm Location 058 Rike Hall Instructor James E Larsen PhD Of ce 260L Rike Hall Phone 7752870 Of ce Hours Tuesday amp Thursday 500 pm 600 pm and by appointment Text None Email Address jameslarsenwrightedu Homepage wwwwrighteduj ames1arsen Fax 7753 545 Prerequisites MBA 730 COURSE DESCRIPTION This course includes advanced treatment of a variety of nance topics that should be of interest to MBAs It includes treatment of some theoretical issues in nance as well as practical application of some topics Readings include corporate governance dividend policy mergers and acquisitions initial public offerings hybrid securities leasing and corporate bankruptcy and reorganization LEARNING OBJECTIVES At the completion of this course you should be able to describe important issues concerning 0 Corporate governance Dividend policies used by US companies Corporate mergers and acquisitions Factors that in uence initial public offerings The use of hybrid securities Leasing as an alternative to purchasing assets Corporate reorganization and bankruptcy Working capital management Corporate capital structure COURSE CONDUCT The seminar format requires greater student participation compared to a lecture format The majority of each session will involve student presentations of assigned readings and class discussions concerning the readings The professor will be reluctant to participate in the class VI VII VIII discussions until all student comments have been made or we run out of time because experience indicates that good discussions come to a crashing halt once the professor opens his mouth Many students assume that the professor is an expert on all topics and once the expert has spoken there is nothing left to say The professor like you is still learning and does not claim to be allknowing Most of the papers covered in this course are drawn from the academic rather than the popular literature A list of the readings is presented in section XII of this syllabus PREPARATION FOR CLASS Class will not go well if you are not prepared for each session Therefore you should read all assigned materials before each session and come to each session prepared to participate in the class discussion If you have a question about the assigned readings or an insight to make about the assignment you can improve your course grade by doing so in the class see section XI Each paper on the readings list can be accessed by connecting to the Dunbar Library home page Click on Electronic Reserves and Reserves Pages Enter 742 in the search box Click on FIN 74201 Enter the password given in class in the password box and click accept Then click on the paper you wish to view ATTENDANCE PARTICIPATION Attendance is expected and participation is essential See section XI Each student is responsible for submitting a Review Sheet for each assigned paper For each paper your review sheet should be typed with one inch margins and no longer than one page On each sheet include in order 1 your name 2 the most important thing you learned reading the paper and 3 commentsquestions you hope to make in class concerning the paper EXAM The exam will be a closed book closed notes essay test ofthe student s knowledge ofa preannounced subset of the material covered in class IN CLASS PRESENTATION Communication skills are important for business managers To help you hone these skills each student will present a summary of a paper from the reading list and then be responsible for leading a class discussion of the paper Due to the number of papers on the reading list some randomly selected or volunteer students may perform this function twice In making your presentation it is important to 1 Keep your presentation as lively clear and informative as possible Try NOT to read your Power Point slides to the class 2 Start with a summary by stating the basic issue addressed in the paper and the basic findings conclusions of the author ie an executive summary 3 Present the details of the paper Some of the papers are lengthy If this is the case for the paper you are presenting be as concise as possible without ignoring important details eg if the author used a statistical test mention the test used but do not get into econometric details If you think the author did something wrong or believe there is a way the paper could be improved include this in your discussion 4 IMPORTANT Close your presentation by stating the implications of the paper for nancial managers 5 Complete items 14 in 20 minutes or less 6 Be prepared to address questions about the paper and coordinate the class discussion Use of overheads or power point is recommended Your grade will be based on how well you accomplish items 16 just enumerated IX EXAM MAKE UP POLICY Makeup exams will be given only in the case of an excused absence An excused absence requires a bona fide excuse and advance notice In all likelihood if a student does not take the exam at the scheduled time a grade of quotIquot will be assigned and a more difficult makeup test administered at a later date X GRADING Inclass presentations 60 Points Phone pager etc not sounding in class 10 Points Class participation 100 Points Exam 100 Points Total 270 Points For each session class participation points will be determined as follows Absent with no typed review sheet 0 points Absent with typed review sheet emailed or faxed before class begins 4 points Present for partial session with no typed review sheet 5 points Present for partial session with typed review sheet 6 points Present for full session with no participation amp a typed review sheet 7 points Present for full session with some participation amp n0 typed review sheet 7 points Present for full session with some participation amp typed review sheet 85 points Present with excellent participation and n0 typed review sheet 85 points Present with excellent participation and typed review sheet 10 points COURSE GRADE A 243 or more points B 216 to 242 points C 189 to 215 points XI ASSIGNMENT SCHEDULE Date Reading Assignment Class Topics 42 None Introduction 49 Reading list group 1 Corporate Governance 416 Reading list group 2 Initial Public Offerings 423 Reading list group 3 Dividends and Stock Repurchases 430 Reading list group 4 Mergers amp Acquisitions 57 Reading list group 5 Hybrid Financing 514 Reading list group 6 Leasing 521 Reading list group 7 Working Capital Management 528 Reading list group 8 Capital Structure 64 Reading list group 9 Bankruptcy amp Reorganization 611 Test 800 pm XII READING LIST 1 Corporate Governance 1 Watkins S Former Vice President Sherron Watkins on the Enron Collapse Academy of ManagementExecutive 2003 17 4 119125 2 Zong L The Road to Stronger Corporate Governance Corporate Board 2004 25 145 1621 3 Tortorello N The Rising Power of Shareholders Corporate Board 2004 25 145 22 26 4 BeckerBlease JR amp AJ Irani Do Corporate Governance Attributes Affect Adverse Selection Costs Review onuantitative Finance andAccounting 2008 30 3 281296 5 Balgobin RNS Global Governance Practice The Impact of Measures Taken to Restore Trust in Corporate Governance Practice Internationally The Icfai Journal of Corporate Governance 2008 71 821 6 Borgogni L The SarbanesOXley Act and IPO Filers Insights The Corporate amp Securities Law Advisor 2003 17 10 1319 2 Initial Public Offerings 1 Brau JC RA Brown amp JS Osteryoung Do Venture Capitalists Add Value to Small Manufacturing Firms An Empirical Analysis of Venture and Nonventure CapitalBacked Initial Public Offerings Journal omeall Business Management 2004 42 1 7892 2 Certo ST CM Daily AA Carmella Jr amp DR Dalton Giving Money to Get Money How CEO Stock Options and CEO Equity Enhance IPO Valuations Academy ofManagement Journal 2003 465 643653 3 Fields P D Fraser amp R Bhargava A Comparison of Underwriting Costs of Initial Public Offerings by Investment and Commercial Banks Journal of Financial Research 2003 26 4 517 534 nun1 MIA hp rv F van in gtan Ari v4 Oil1A 1quot7 uuu L u 1 um UIfUI m p 5 Pollock TJ amp VP Rindova Media Legitimation Effects in the Market for Initial Public Offerings Academy ofManagement Journal 2003 46 5631642 6 Wu C All Initial Public Offerings Are Not Created Equal Journal of Business amp Economic Studies 2005 111 1933 7 Mantecon T amp P Poon An Analysis of the Liquidity Benefits Provided by Secondary Markets Journal of Banking and Finance 2009 33 335346 3 Dividends amp Stock Repurchases 1 Baker HK GE Powell amp E T Veit Revisiting Managerial Perspectives on Dividend Policy Journal ofEconomics amp Finance 2002 26 3 267283 3 Paige FL amp MS Wilkins An Empirical Investigation of Stock DividendsinKind Journal ofFinancial Research 1996 19 1 105119 4 Baker HK TK Mukherjee amp GE Powell Distributing Excess Cash The Role of Specially Designated Dividends Financial Services Review 2005 14 111131 5 Benesh GA AJ Keown amp J M Pinkerton An Examination of Market Reaction to Substantial Shifts in Dividend Policy The Journal of Financial Research 1984 72 131142 6 Konan C D Ikenberry and I Lee Economic Sources of Gain in Stock Repurchases Journal ofFinancial anal Quantitative Analysis 2004 393 461479 7 Baker HK GE Powell amp E T Veit Why Companies Use OpenMarket Repurchases A Managerial Perspectives The Quarterly Review ofEconomics amp Finance 2003 43 483504 4 Mergers and Acquisitions 1 Smith S How to make a Decision About a Merger or Acquisition The Journal of Business Forecasting 2005 242 1116 2 Akhigbe A SF Borde amp AM Whyte The Source of Gains to Targets and Their Industry Rivals Evidence Based on Terminated Merger Proposals Financial Management 2000 29 4 101 1 18 3 Loughran T amp AM Vijh Do LongTerm Shareholders Bene t from Corporate Acquisitions Journal ofFinance 1997 52 5 17651790 4 Allr A DD z D D n1 P X z It 14 f A39 n A L quot39 A I n 7 39 P r uuuu 1414 1 u on w V11 u ADLUAAA r on I x nqu qututu 1 1 1 1quot 39 39 tla Hut Phf r A nnA A nIIr A 39 A nA w P I T 439 rm I u A u i I A 5 u mnu x we M J x a m i 5 Selden L amp G Colvin MampA Needn t be a Loser s Game HarvaralBusiness Review 2003 816 7079 6 Collins G The Gendered Nature of Mergers Gender Work anal Organization 2005 123 270290 5 Hybrid Financing 1 Bajaj M The Costs of Issuing Preferred Stock Journal of Financial Research 2002 25 4 577592 2 Irvine P amp J Rosenfield Raising Capital Using Monthly Income Preferred Stock Market Reaction and Implications for Capital Structure Theory Financial Management 2000 29 2 520 3 Fields LP amp SE Webb An Investigation of Preferred Stock Financing by Banks and Nonbank Financial Institutions Journal of Financial Research 1997 20 3 343353 4 White Huckins N An Examination of Mandatory Convertible Preferred Stock Financial Review 1999 342 89108 5 Lee HW amp RE Figlewicz Characteristics of Firms that Issue Convertible debt Versus Convertible Preferred Stock Quarterly Review ofEconomics amp Finance 1999 39 4 547563 6 Soku B Stock Performance Following StockWarrant Unit Offerings Journal of Business 2004 771 75100 6 Leasing 1 Ezzell JR amp PP Vora Leasing Versus Purchasing Direct Evidence on a Corporation s Motivations for Leasing and Consequences of Leasing Quarterly Review of Economics amp Finance 20014113347 2 Mehran H amp RA Taggart CEO Ownership Leasing and Debt Financing Financial Management 1999 28 2 514 3 Smith CW Jr amp LM Wakeman Determinants of Corporate Leasing Policy Journal of Finance 1985 40 3 895908 4 Weiss PB Buy or Lease Strategic Finance 2003 85 5 15 5 Fisher LM The Wealth Effects of Sale and Leasebacks New Evidence Real Estate Economics 2004 324 619643 6 Konikoff PK Best Practices in Commercial Real Estate Leasing 7 Ground Rent Adjustment Formulas The Developers and the Lender s Point of View Brie ngs in Real Estate Finance 2004 41 7485 7 Working Capital Management 1 Payne SM Ten Working Capital Blunders to Avoid The Journal of Corporate Accounting andFinance 2002141 1116 2 Filbeck G amp TM Krueger An Analysis of Working Capital Management across Industries Mid American Journal ofBusiness 2005 20 2 1118 3 Lazaridis I amp D Tryfonidis Relationship between Working Capital Management and Pro tability of Listed Companies on the Athens Stock Exchange Journal ofFinancial Management andAnalysis 2006 191 2635 4 Gaur V ML Fisher amp A Raman An Economic Analysis of Inventory Turnover Performance in Retail Services Management Science 2005 51 2 181194 5 Chiou J L Cheng amp H Wu The Determinants of Working Capital Management The Journal ofthe American Academy ofBusiness Cambridge 2006 101 149155 8 Capital Structure 1 Shivdasani A amp M Zenner How to Choose a Capital Structure Navigating the DebtEquity Decision Journal oprplied Corporate Finance 2005 17 1 2635 2 Yi J A Study on Debt Maturity Structure The Journal of the American Academy of Business Cambridge 2005 7 2 277285 anamp4 Ctr hm nun1 14 Dm T P Qtn C a 1th funny m a 311 mag in I lIMO 1Q I 4 Barclay MJ amp C Smith The Capital Structure Puzzle The Evidence Revisited Journal of Applied Corporate Finance 2005 17 1 817 5 Mehrotra V W Mikkelson amp M Partch Do Managers Have Capital Structure Targets Evidence from Corporate Spinoffs Journal oprplieal Corporate Finance 2005 17 1 1825 9 Bankruptcy amp Reorganization 1 Dawley DD JJ Hoffman amp EN Brockmann Do Size and Diversi cation Type Matter An Examination of PostBankruptcy Outcomes Journal ofManagerial Issues Financial 2003 15 4 413592 3 Wong KM Bankruptcy as a Risk Management Tool Economic and Social Implications Review ofBusiness 2003 24 3 4651 4 Brockmann EN JJ Huffman DD Dawley amp CJ Fomacairi The Impact of CEO Duality on a Bankrupt Organization Journal ofManagerial Issues Financial 2004 16 2 178196 5 Grice JS amp RW Ingram Tests of the Generalizability of Altman39s Bankruptcy Prediction Model Journal ofBusiness Research 2001 541 5361


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