Free online courseCorporate Finance
Duration of the online course: 9 hours and 50 minutes
New course
Master Corporate Finance with this comprehensive free online course by Edspira. Learn NPV, IRR, Cost of Equity, Mergers & Acquisitions, and more. Ideal for Business Administration.
Course Description
Dive into the intricate world of corporate finance with a comprehensive course that spans over 9 hours and 50 minutes. Whether you are a business administration student or a seasoned professional looking to deepen your understanding of corporate finances, this course has all the essential topics covered.
The course begins by exploring the foundational concept of the Time Value of Money, ensuring a thorough comprehension of how and why the value of money changes over time. Understanding the Effective Annual Rate of Interest (EAR) is next, with clear explanations and practical methods to calculate it. Learners will also delve into Future and Present Value calculations, essential for assessing single cash flows and annuities, including Growing Annuities and Perpetuities.
Corporate dividend policies are examined, revealing why firms might choose not to distribute all their earnings as dividends. Moving on to valuation, the course covers the critical calculations for determining a firm's Enterprise Value and teaches Net Present Value (NPV) computation, even taking taxes into consideration. Comparisons between NPV and IRR (Internal Rate of Return) highlight scenarios where each method excels or fails, equipping learners with a nuanced understanding of investment decision-making.
The course also provides detailed instruction on calculating Free Cash Flow, using Walmart as a case study, and introduces learners to the Payback Method. The differences between NPV and the Payback Method are clarified, and an in-depth look at Incremental IRR is included.
Bond yields, whether from coupon bonds or zero-coupon bonds, are demystified through Excel-based calculations. Concepts like Forward Rates and the Dividend Discount Model (DDM) come into play, with limitations and alternative valuation models like the Total Payout Model and the use of multiples discussed.
Volatility, risk premiums, and the critical concept of diversification are dissected, alongside common and independent risks. Beta calculation is tackled from multiple angles, including regression analysis, to give learners a practical toolkit for risk assessment.
Understanding market dynamics is furthered through lessons on the Market Risk Premium, efficient vs. inefficient portfolios, and performance metrics like the Sharpe and Treynor Ratios. The Capital Asset Pricing Model (CAPM) is broken down, from its assumptions to calculating the cost of equity. Learners are also introduced to advanced models like the Fama-French and Carhart multifactor models.
Merger and acquisition strategies form another core part of the curriculum. The course elucidates the 3 types of mergers, negotiation processes, various defensive measures against hostile takeovers, and sophisticated structures like SPACs and dual-class stocks.
Finally, the course addresses the nuanced Quality of Earnings Report, highlighting its importance in various financial assessments and adjustments.
This Corporate Finance course is a robust and detailed guide, perfect for those looking to master the financial strategies that are pivotal in the business world. Its thorough coverage ensures that learners finish the course well-equipped to handle complex financial scenarios in real-world corporate environments.
Conteúdo do Curso
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Video class: Time Value of Money (concept explained)
0h07m
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Exercise: What does the time value of money concept primarily refer to?
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Video class: Explanation of the Effective Annual Rate of Interest (EAR)
0h11m
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Video class: How to Calculate the Effective Annual Rate of Interest (EAR)
0h03m
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Video class: Future Value of a Single Amount
0h02m
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Exercise: If you invest a single amount of $200 today at an annual interest rate of 4% compounded annually, what will be the future value of this investment in 25 years?
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Video class: Present Value of a Single Cash Flow
0h07m
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Video class: Future Value of an Annuity
0h05m
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Video class: Present Value of an Annuity
0h08m
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Exercise: What is the present value of an annuity, and why is it important in financial calculations?
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Video class: Future Value of an Annuity Due
0h04m
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Video class: Future Value of a Growing Annuity
0h05m
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Video class: Present Value of a Perpetuity
0h03m
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Exercise: What is the present value of a perpetuity if the annual cash flow is $1,000 and the discount rate is 8%?
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Video class: Present Value of a Growing Perpetuity
0h04m
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Video class: Dividend Policy: why firms don't pay out all their earnings as dividends
0h07m
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Video class: Calculating the Enterprise Value of a Firm
0h06m
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Exercise: When calculating a firm's Enterprise Value (EV), which of the following components must be included?
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Video class: Net Present Value (NPV)
0h09m
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Video class: How to Calculate NPV with Taxes
0h07m
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Video class: NPV and Mutually Exclusive Investments
0h05m
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Exercise: If a company has a vacant lot and three mutually exclusive investment opportunities with the following Net Present Values (NPV): NPV of $220 for building residential homes, NPV of $259 for building commercial structures, and NPV of $175 for selling the lot as is, which option should the company choose to maximize wealth?
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Video class: Selling a Stock Short
0h09m
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Video class: Free Cash Flow
0h08m
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Video class: How to Calculate Free Cash Flow for Walmart
0h01m
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Video class: IRR (Internal Rate of Return)
0h07m
This free course includes:
9 hours and 50 minutes of online video course
Exercises to train your knowledge
Certificate of course completion
100% free, from content to certificate
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