教学

2006春季课程


FIN11	Corporation Finance (大纲)

This course covers basic principles by which the modern corporation manages its assets, controls its liabilities and raises new capital. Topics covered include the mathematics of finance, valuation and rates of return on securities, financial statement analysis, forecasting, planning and budgeting, working capital management, introduction to capital budgeting techniques, and cost of capital considerations.

FIN412

Corporate Financial Policy (大纲)

This is a writing intensive course. Analysis of corporate policy with respect to internal financial control, capital budgeting, dividend policy, and the issuance and sale of new securities. Emphasis will be placed on corporate decision- making under uncertainty in areas of investment and financing alternatives, both domestically and internationally. Tools and techniques for risk assessment and risk management will be explored using financial calculators and spreadsheet models.

Long Island University - C.W. Post Campus
School of Business
Corporation Finance - FIN 11 Section 003 (KA212)
Spring 2006

Instructor:

Dr. Zhaohui Zhang

Class meets:

5:45-8:25 p.m./Mon.

Office hours:

3:30 p.m. - 5:00 p.m. Mon. & Wed. and by appointment

Office address:

Roth Hall 302

Office phone:

516) 299-2943

E-mail address:

zhaohui.zhang@liu.edu

Class Website:

http://myweb.cwpost.liu.edu/zzhang

Required Text:

Fundamentals of Corporate Finance. 7th Edition; Ross, Westerfield & Jordan; McGraw-Hill/Irwin.

Calculator. A financial calculator is required. Many of the homework and exam problems contain complex arithmetic and a financial calculator is necessary to solve them. I recommend the HP 10B or TI BAII PLUS calculator. You will be responsible for learning how to use it on your own.

Course Description:

Intended Audience:

School of Business juniors and seniors.

Course Objectives:

To learn and apply the basic principles by which the modern corporation manages its assets, controls its liabilities and raises new capital.

Co-requisites:

ACC 11 or consent of chair.

Mode of Instruction:

Lectures and class discussions.

Student Responsibilities:

Grading:


Two Equally-weighted Midterm Exams	2*25%
Final (Comprehensive) Exam	30%
Homework	10%
Class Participation	10%

Exams:

No make-up exam will be given for any other reason than medical emergency Official proof is required. Should a student miss one midterm exam, the final exam will then take over the weight of the missed midterm exam.

Homework:

Homework assignments are to help students understand the materials better. Students should attempt the assignments in each week after the new materials are lectured. Homework questions and problems are assigned in class. Handwritten homeworkwill be collected and graded.

Dropping a Course:

A student who discontinues attending class and who does not officially drop the course or withdraw from the University will receive a grade of F. A course is not withdrawn until all required steps in the procedure are completed. Consult your advisor for this information.

Student Disabilities:

Any student who, because of a disabling condition, may require some special arrangements in order to meet course requirements should contact the instructor as soon as possible to make necessary accommodations. Students should present appropriate verification from the Coordinator of Services for Students with Special Needs whose office is in the Student Health and Counseling Center. No requirement exists that accommodations be made prior to completion of this approved University process.

Incomplete:

A grade of incomplete will not be granted except for the extreme circumstances and only after stringent verification and approval by the department. A grade of incomplete will be granted only as a result of circumstances beyond the student's control. A grade of "I" is not given in lieu of an "F" or any other grades.

Academic Honesty:

Students are expected to practice the highest standards of academic honesty in all works: exams, projects, etc. All work turned in by students will be the result of the student's own work unless noted otherwise by the footnote. Any student turning in work presented as his/her own work, that turns out to be otherwise, will be given an "F" in the course.

Required Class Schedule
Finance 11.003 (Spring 2006)


(1/23):	Course Introduction & Overview of Corporate Finance	Chapter 1
(1/30):	Financial Statements, Taxes and Cash Flows	Chapter 2
(2/06):	Time Value of Money	Chapter 5&6
(2/13):	Time Value of Money	Chapter 5&6
(2/20):	No Class - Holiday
(2/27):	Review, First Mid-Term Exam
(3/06):	Interest Rates and Bond Valuation	Chapter 7
(3/13):	Stocks & Their Valuation	Chapter 8
(3/20):	Capital Budgeting Decision Criteria	Chapter 9
(3/27):	Making Capital Investment Decisions	Chapter 10
(4/03):	Review, Second Mid-Term Exam
(4/10):	No Class - Spring Recess
(4/17):	Capital Market History	Chapter 12
(4/24):	Return, Risk and SML	Chapter 13
(5/01):	Cost of Capital	Chapter 15
(5/08):	Comprehensive Final Exam

Note:Dates may not be exact. The policy and the schedule may vary as the class progresses.

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Long Island University - C.W. Post Campus
School of Business
Corporate Financial Policy - FIN 412 Section 002 (LIB357)
Spring 2006

Instructor:

Dr. Zhaohui Zhang

Class meets:

2:00-3:20 p.m./Mon. & Wed.

Office hours:

3:30 p.m. - 5:00 p.m. Mon. & Wed. and by appointment

Office address:

Roth Hall 302

Office phone:

(516) 299-2943

E-mail address:

Zhaohui.Zhang@liu.edu

Class Website:

http://myweb.cwpost.liu.edu/zzhang

Required Text:

Fundamentals of Corporate Finance. 7th Edition; Ross, Westerfield & Jordan; McGraw-Hill/Irwin. And The Wall Street Journal.

Course Description:

This is a writing intensive course (WIC). Analysis of corporate policy with respect to internal financial control, capital budgeting, dividend policy, and the issuance and sale of new securities. Emphasis will be placed on corporate decision- making under uncertainty in areas of investment and financing alternatives, both domestically and internationally. Tools and techniques for risk assessment and risk management will be explored using financial calculators and spreadsheet models.

Intended Audience:

School of Business juniors and seniors.

Course Objectives:

To learn and apply the basic principles by which the modern corporation manages its assets, controls its liabilities and raises new capital.

Prerequisites:

Finance 11.

Mode of Instruction:

Lectures, class discussions and in class writing.

Student Responsibilities:

Each student is to read the designated assignments in the text prior to class and to participate in class discussions of those topics. There will be two mid-term examinations and a final Comprehensive examination. WSJ summary is expected to be weekly. Lecture summary is expected at the end of each class. There will be one term paper, 10 pages in length. This paper will be revised at least once, under my direction. Students are expected to devote a minimum of 7 hours a week to course requirements. The estimated number of revised and unrevised pages of writing is 15 and 30 pages, respectively.

Grading:


Two Equally-weighted Midterm Exams	40%
Final (Comprehensive) Exam	25%
Term Paper	15%
WSJ Summary	10%
Class Participation (Lecture summary)	10%

Exams:

No make-up exam will be given for any reason except for medical emergency. Official proof is required. Should a student miss one midterm exam, the final exam will then take over the weight of the missed midterm exam.

WSJ Summary:

To keep up with the changes in the real financial world, each student is required to write a weekly summary from reading The Wall Street Journal. The weekly summary should be a Word document in font 11 or 12 (either 1.5- or double- spaced) no longer than one page. Students have the discretion to choose what he or she thinks the most important and relevant article in the corporate finance area from any of the five daily papers within that week. These articles usually appear in Section C & A.

Each summary should be well written and easy to understand, even for your peers who have not read the article nor are they familiar with the event. The instructor has the total discretion to decide the credit based on the relevancy and the quality of the summary. Use about 2/3 of the summary to summarize the main points of the article and 1/3 to make your own comments on the article. Both parts are important. A sample article in the required format (article title, author(s), date, page number, your name, etc.) is provided. (Note: Use quotation marks when you use words or sentences from the articles directly, otherwise it is considered plagiarism and you will be given zero credit for that summary. If it occurs twice, you receive zero credit for the whole project.) There are eight weekly summaries due throughout the semester.

Paper:

There will be a term paper for this class, and it will be collected and graded based on relative merits. The paper is 10 pages in length. The student's written analyses of the research topic is at the core of the analysis and problem-solving (as well as the relevancy) aspect of the course. In preparing the written analyses, the student should be careful to use correct grammar and sentence and paragraph structure. Appropriate headings and subheadings should be used. The written analyses should be typed double-spaced.

The paper (hard copy only) is due at the beginning of the class on the due day. A case turned in after class in the due week will be graded with a 15-point deduction for lateness. Cases turned in the next week will be graded with a 30- point deduction for lateness. Afterwards, the paper will be given a grade of 0.

Homework:

Dropping a Course:

Student Disabilities:

Any student who, because of a disabling condition, may require some special arrangements in order to meet course requirements should contact the instructor as soon as possible to make necessary accommodations. Students should present appropriate verification from the Coordinator of Services for Students with Special Needs whose office is in the Student Health and Counseling Center No requirement exists that accommodations be made prior to completion of this approved University process.

Incomplete:

Academic Honesty:

Required Class Schedule
Finance 412.002 (Spring 2006)


(1/23 & 25):	Course Introduction & TVM & Calculator	Chapter 5&6
(1/30 & 2/01):	Risk & Return	Chapter 13
(2/06 & 2/08):	The Cost of Capital; Capital Budgeting Decision Rules	Chapter 15&9
(2/13 & 2/15):	Project Analysis and Evaluation	Chapter 11
(2/20):	No Class
(2/22):	Project Analysis and Evaluation, Review
(3/01):	First Mid-Term Exam
(3/06 & 3/08):	Raising Capital	Chapter 16
(3/13 & 3/15):	Leverage & Capital Structure Theory	Chapter 17
(3/20 & 3/22):	Leverage & Capital Structure Theory	Chapter 17
(327 & 3/29):	Dividend Policy	Chapter 18
(4/03):	Review
(4/05):	Second Mid-Term Exam
(4/12):	No Class - Spring Recess
(4/17 & 4/19):	Short-Term Finance and Planning	Chapter 19 amp;Paper Due
(4/24 & 4/26):	International Corporate Finance	Chapter 22
(5/01 & 5/03):	Review, Comprehensive Final Exam

Note: Dates may not be exact. The policy and the schedule may vary as the class progresses.

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