Registry
Module Specifications
Current Academic Year 2012 - 2013
Please note that this information is subject to change.
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| Description | |||||||||||||||||||||||||||||||||||||||||
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EF 5124 The principal objectives of corporate treasury include, securing the lowest cost of funding, risk minimisation and enhancing shareholder value. This module will critically examine the functions and responsibilities of the corporate traesury function. The module will develop skills and knowledge if principal financial instruments and strategies used to within the corporate treasury function.This module is delivered through a combination of weekly lectures and tutorials. Students are expected to attend lectures, to contribute to tutorials and to engage in on-line learning and research activities on a regular basis. EF 5124 In tutorials students will discuss solutions to problem sets as well as expert articles. | |||||||||||||||||||||||||||||||||||||||||
| Learning Outcomes | |||||||||||||||||||||||||||||||||||||||||
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1. Differentiate between the strategic objectives of corporate treasury 2. Evaluate theoretical and empirical arguments for and against hedging foreign exchange rate risk and interest rate risk 3. Evaluate the management of liquidity in a multinational corporation through cash and working capital management, financing foreign trade and corporate risk management 4. Critique the theoretical and empirical issues concerning the treasury function including factors such as tax and the cost of capital for a multinational corporation, its relationship with global capital markets and the capital structure of the firm 5. Critically assess recently developed metrics and concepts in corporate treasury management including enterprise wide risk management, and treasury performance measurement | |||||||||||||||||||||||||||||||||||||||||
All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml |
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| Indicative Content and Learning Activities | |||||||||||||||||||||||||||||||||||||||||
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Students will focus on the following topics. International Capital Markets. This section critically examines and evaluates the structure and range of international financing instruments across global capital markets,from money market instruments to corporate bond markets and equity markets. International Corporate Finance. This section critically examines the funding decision of the multinational corporation, starting with corporate capital structure, looking at the international cost of capital and making international investment decisions in an international risk environment and subject of course to the objective of securing the lowest cost of capital.. Cash and Working Capital Management. This section examines the issues around forecasting financing needs, international cash management (pooling and netting), cash management swaps managing profits repatriations. It also critically evaluates the range of available financing instruments and techniques. Financing Foreign Trade. This section examines and evaluates the principal instruments and techniques available to multinational corporations for the financing of foreign trade. Corporate Treasury and Derivatives. This section critically examines and evaluates techniques and instruments for managing corporate financial risk via derivative securities. Taking interest rate risk and currency risk as core examples we evaluate a range of measures including interest rate swaps, currency swaps, forward rate agreements as well as options based solutions for the multinational corporation.This section also extends the context to include market risk by examining value at risk (VaR) in a corporate treasury context. Corporate Treasury and Shareholder Value. This section looks at the corporate treasury function in a multinational company in the context of a value-creation role. It critically examines relevant metrics such as economic value added and the literature in this field.. | |||||||||||||||||||||||||||||||||||||||||
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| Indicative Reading List | |||||||||||||||||||||||||||||||||||||||||
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| Other Resources | |||||||||||||||||||||||||||||||||||||||||
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| Programme or List of Programmes | |||||||||||||||||||||||||||||||||||||||||
| PBSSA | PG Exchange(Business School) | ||||||||||||||||||||||||||||||||||||||||
| PBSSAO | PG Study Abroad(Business School) | ||||||||||||||||||||||||||||||||||||||||
| Timetable this semester: Timetable for EF587 | |||||||||||||||||||||||||||||||||||||||||
| Date of Last Revision | 02-FEB-12 | ||||||||||||||||||||||||||||||||||||||||
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