06300680 - Financing International Operations

Diploma level Master - Semester 2
Credit hour 6
Total number of hours 40
Number of hours for lectures 40

Goals

The course focuses on international finance & risk management.
Case studies will be widely used
Estimation of private study (outside of contact hours) : 20 hours

TARGETED KNOWLEDGE
  • Focus on risk management: forex risks (foreign exchange), rate risks, country risk management, investment risks…
  • Understand decision-making in the investment process in an international context (case studies)

Content

Country Risk Analysis
Multinational Capital Budgeting
  • Capital Cost, Risk Premium, Operating Cash Flows
  • Exercises
Case study: Lufthansa in India
Foreign Exchange Risk: Transaction / Operating Exposure
Currency Forwards, Currency Options, Swaps
  • Exercises
  • Case study: Johnson & Johnson / Guangzhou, China
  • Case Study: Airbus Forex / Brazil
Money Markets & Interest Rate Risk Management
Interest Rate Risk Management (FRAs, SWAPs )
  • Exercises
  • Case study: Pakistan International Airways

Bibliography

PRESCRIBED TEXTS AND PUBLICATIONS :
Alan C. Shapiro, Peter Moles, International Financial Management, Wiley, New York (2014)
( Chapters 16 & 17)

RECOMMENDED TEXTS AND PUBLICATIONS :
Pierre Vernimmen, Yann Le Fur, Pascal Quiry, Corporate Finance (5th edition), Wiley (2017)
Section I Financial analysis / Part 1 & 2
Section II investors and markets / Part 1 investment decision rules

TEXTS AND PUBLICATIONS OF IAELYON FACULTY ON THE SUBJECT OF THE COURSE :
  • Griette, E., Vittoz, L., Langle, B., “Cérémako: coping with weather and financial markets volatility “, Revue Recherche et Cas en Sciences de Gestion , Les paradoxes de la mondialisation (n°16), second semester 2016
  • Pesqueux, Y., Griette, E., « La question de l’impact à l’épreuve de la gouvernance minière autour de son instauration en Afrique de l’Ouest », Question de management, June 2020 (n° 27)

Tests

Final Exam
Written 2h, Final exam

Continuing Examination
Group assignements: case study & participation to the class

Additional Information

PRESCRIBED TEXTS AND PUBLICATIONS :
Alan C. Shapiro, Peter Moles, International Financial Management, Wiley, New York (2014)
( Chapters 16 & 17)

RECOMMENDED TEXTS AND PUBLICATIONS :
Pierre Vernimmen, Yann Le Fur, Pascal Quiry, Corporate Finance (5th edition), Wiley (2017)
Section I Financial analysis / Part 1 & 2
Section II investors and markets / Part 1 investment decision rules

TEXTS AND PUBLICATIONS OF IAELYON FACULTY ON THE SUBJECT OF THE COURSE :
  • Griette, E., Vittoz, L., Langle, B., “Cérémako: coping with weather and financial markets volatility “, Revue Recherche et Cas en Sciences de Gestion , Les paradoxes de la mondialisation (n°16), second semester 2016
  • Pesqueux, Y., Griette, E., « La question de l’impact à l’épreuve de la gouvernance minière autour de son instauration en Afrique de l’Ouest », Question de management, June 2020 (n° 27)