FM421      Half Unit
Applied Corporate Finance

This information is for the 2016/17 session.

Teacher responsible

Prof Ashwini Agrawal


This course is available on the CEMS Exchange, IMEX Exchange, MPhil/PhD in Accounting, MSc in Accounting and Finance, MSc in Econometrics and Mathematical Economics, MSc in Econometrics and Mathematical Economics (2 Year Programme), MSc in Economics and Management, MSc in Finance and Economics, MSc in Finance and Economics (Research), MSc in Management, MSc in Management (CEMS MIM), MSc in Management (MiM Exchange), MSc in Management and Strategy, MSc in Risk and Finance and MiM Exchange. This course is available as an outside option to students on other programmes where regulations permit.


This is an advanced applied course and a thorough understanding of the major theoretical issues and concepts is required. Students must meet one of the following pre-requisites to take this course: 1. have taken FM431 Corporate Finance A in Michaelmas term. 2. have taken the equivalent of FM212 Principles of Finance in their undergraduate degree.

Course content

Provides a thorough grounding in recent developments in applied corporate finance. The course involves a study of the applied corporate finance literature and case studies. It will examine valuation techniques, capital structure and payout policy, raising capital, going public, financial risk management by firms, corporate governance, takeovers and insolvency.


30 hours of seminars in the LT.

This course is taught in two separate streams.

Formative coursework

Class papers and case based research are required.

Indicative reading

Articles from journals and readings from D H Chew, The New Corporate Finance: Where Theory Meets Practice (3rd edn, McGraw Hill); M Grinblatt & S Titman, Financial Markets and Corporate Strategy, (2nd edn, McGraw Hill).


Exam (80%, duration: 2 hours) in the main exam period.
Coursework (20%) in the LT.

Key facts

Department: Finance

Total students 2015/16: 133

Average class size 2015/16: 66

Controlled access 2015/16: Yes

Value: Half Unit

Guidelines for interpreting course guide information