Explore the detailed Masters in Financial Management curriculum:
During this introductory course, students learn the basics about corporate finance. After having a detailed look at the financial news, we start this course by analysing financial statements and discuss techniques that may be used to evaluate the liquidity, profitability, solvency and cash flow generation of companies. Next, we focus on how companies can manage their working capital and how they can finance their activities. Furthermore, we will show how financial planning can help to achieve the firm’s objectives. Then we will look at investment and financial policies in detail. We first focus on the capital structure of companies and discuss the relation between return and risk. Subsequently, we evaluate different capital budgeting techniques and show how investment projects can be valued.
Careers in Finance: the Talks
The … Talks”-series entails a number of guest lectures/practitioners’ presentations that provide insightful content and will furthermore prove very useful within a career’s perspective – these are supported by and co-organized with Vlerick’s Career Services. While topics vary over the years, we typically organize The CFO Talks, The Investor Relations Officer Talks, The Banker Talks, The Investment Banker Talks, The Private Equity Investor Talks, The Consultant Talks, The Insurers Talks, The Asset Manager Talks,...
The objective of this course is to provide a basic level of understanding of financial mathematics. The theory will be illustrated by real-life examples as well as in-class exercises.
The objective of this course is to provide the students with practical, hands on knowledge and experience of financial modeling. During the course the students are taught how to structure several models in Excel by using a step-by-step approach. This course aims to provide the student with the essential knowledge of Excel so that with some creativity, newly learned details of modeling can be easily adopted.
In this course we will explore –step by step– the fundamentals of options and discover how these financial instruments and insights relate to real world applications. We will target a tailored study plan through blended learning. On top of our classroom sessions, a digital learning environment (Connect) is at your disposal. Connect keeps track of your progress, with quizzes for practicing the concepts and theory that are explained in the course. You determine the learning speed and effort needed in preparation for the classroom sessions.
Intro to Economics
Upon completion of the course you will:
understand the meaning of economics and economic systems, and how economics influences all stakeholders in society
- understand the meaning and challenges of globalisation and international economic integration and to be able to determine their influence on the future performance of a country/ organisation/ manager
- understand the behaviour of consumers and firms in a modern economy
- understand how aggregate economic activity is measured
- understand the implication of the interaction between changes in one or more of a wide range of macro-economic forces (economic growth, unemployment, inflation, exchange rates, balance of payments)
- know what economic information is needed and available to make an informed decision, and to know how to integrate this information, process it and arrive at a decision
- integrate the above so as to understand how and why economic policy decisions are made, and to determine the impact of such decisions on the managerial function
The objective of this course is to provide students with a basic level of understanding of cost accounting. The theory will be illustrated by case studies and in-class exercises.
The purpose of this course is to provide students with a general understanding of the financial reporting process. The course concentrates on the preparation and interpretation of financial statements (balance sheet, income statement, statement of stockholder’s equity and statement of cash flow) according to International Financial Reporting Standards (IFRS). It gives a thorough understanding of the accounting function, key accounting concepts and decision making using financial accounting information.
Advanced Corporate Finance
This course explores a wide range of different topics within the broad field of corporate finance. We will move beyond the basics discussed in any standard corporate financial management course, deal with more sophisticated items and examine in great detail some very recent interesting case studies, including ABInbev, Facebook and Apple. Among others, the following will be covered: equity and debt capital, business financing, how to negotiate with banks, types of debt financing, leasing, factoring, project finance, the mechanics of initial public offerings (IPOs), the role of investment banks in underwriting securities, anomalies in the IPO market, company valuation, enterprise risk management, behavioral finance, leveraged buyouts, how do stock markets operate, capital structure, dividend policy, cash and marketable securities holdings, treasury management,...
The objective of the course is to understand the functioning of typical (equity) investors in entrepreneurial companies, with a focus on business angels, venture capital and private equity. More specifically, we will focus on analyzing and making financial decisions in entrepreneurial, unquoted companies. Given the uncertainty, large information asymmetries and goal incongruencies, the risk of agency problems between investors and entrepreneurs is high. Therefore, traditional financing methods (such as bank debt) are often inappropriate. The course will provide an in-depth understanding of the equity financing process and the elements of deal making.
International Corporate Finance & Financial Risk Management
The objective of this course is to provide students with a framework for making corporate financial decisions in an international context. We will discuss various topics in the area of international financial management. Examples include: how to measure currency exposure; how to hedge currency risk; how to value foreign investments and why to raise capital in foreign markets.
The course has a fivefold objective. First, we will spend time on the main investment processes and discuss their opportunities and challenges. Second, participants will get a full exposure to the traditional investment categories: stocks, bonds and money markets and their distinct investment characteristics. Third, we will look at the pricing of these from a theoretical and a practical perspective. Fourth, using modern portfolio theory we will bring these financial products together with the purpose of forming portfolios. Lastly, we will briefly discuss the different investment philosophies and their consequences.
Management of Financial Institutions
The main objectives of the course are as follows:
- Gaining insight into major decisions involved in the management of a financial institution
- Developing and understanding the overall strategy of financial institutions and the interaction of the different business areas
- Understanding the impact of macroeconomic conditions on the business and financial performance of financial institutions
Capital Budgeting & Valuation
This course covers capital budgeting and company valuation. Capital budgeting involves decisions regarding which projects a company should invest in. The main techniques to evaluate investment projects will be discussed, along with their pros and cons. One session will focus on valuing real estate projects. Company valuation is about determining the fair value of an enterprise. Valuation methods like discounted cash flow, the book value of assets and multiples are presented. Risk analysis is elaborated upon as well: scenario and sensitivity analysis are extensively discussed, along with simulation software and Tornado graphs. Substantial attention is given to potential flaws of traditional valuation methods and real options is put forward as an alternative valuation framework and perspective. This course neatly combines theory and practice. Plenty of cases and real life examples are worked out.
Corporate Sustainability & Responsibility
The main objective of the course is to discuss, explore and clarify the content, meaning and different dimensions of (strategic) CSR. In order to achieve this, specific attention will be paid to how CSR can be integrated in different management disciplines such as performance management, reporting, HRM, supply chain management, marketing, etc. Also, the course aims at discussing and explaining how and to what extent CSR can lead to innovation in products and services. Ultimately, we explore whether and to what extent CSR can lead to a competitive advantage. Specific attention will also be paid to the topic of stakeholder management and engagement.
This course will provide you with a stimulating introduction to the theory and practice of entrepreneurship and new venture creation. The central aim of the module is to de-mystify entrepreneurship and to demonstrate that many of the skills and competences required to launch and grow a successful business can be learned and practised. In order to maximize your learning, we will tap into entrepreneurial experiences as much as possible. First, this course will provide hands-on learning on what it’s like to actually start a company. Second, we will discuss different entrepreneurial stories in particular case studies. Third, we will rely on testimonials of a series of entrepreneurs.
This course will focus on the main income tax factors that a finance manager will encounter in an international business environment. We will examine the principles governing domestic corporate tax systems and international corporate tax. A few aspects of executive taxation will be addressed as well.
Financial Accounting & Financial Statement Analysis
The purpose of this course is to provide the students with a general (and mostly conceptual) understanding of how to read and interpret financial statements (balance sheet, income statement, statement of stockholder’s equity and statement of cash flow), under IFRS. Also, the course gives an understanding of how accounting choices affect financial reporting and decision making using financial accounting information. More than accounting techniques, the class focuses on the link between accounting, corporate finance and market finance. Accounting trends are identified and discussed.
The intention of this course is to give an overview of all essential aspects of strategic management. The primary objective is to provide you with a thorough understanding of the issues underlying value generation and value capture in business enterprise. You will be familiarized with various models, theories and tools that will allow you to effectively analyse complex competitive situations and to make decisions that increase a firm’s competitive standing vis-à-vis its market rivals. The format of the course is based on the idea that one can master strategic thinking by practicing it. Thus, it will be mostly constructed around your experiential learning.
Deep Dive Challenge
The goal of the Deep Dive Challenge is to introduce you to a number of major strategic questions senior managers have to deal with. The challenge highlights the holistic nature of managerial thinking by requiring you to think about different functional domains of management in an integrated way. The Deep Dive Challenge offers you a starting point to link management theory to practice by working on managerial questions that will be covered in the different management courses throughout the year.
The goal of IMEx (Integrated Management Exercise) is to emphasize the integration between the management of the different functional domains on an operational, tactical and strategic level. IMEx provides the opportunity to apply various techniques and concepts taught in different courses and will be played in teams. Each team represents a fictitious company competing in the Toy Industry. Based on a computer simulation, teams will have to make managerial decisions in a competitive, dynamic and interactive environment over a horizon of 12 quarters (periods). The performance of the company will be translated, amongst others, into an economic, environmental and social index. These three represent the so-called triple bottom line (TBL).
Professional Management Skills
Professional Management Skills
The course consists of a three-day seminar and offers an in-depth opportunity to assess your own skills profile in an active environment, rather than just thinking and talking about your skills. It has two main objectives:
- To support your personal and professional development by enhancing a number of important competencies, both on the individual level (e.g. knowledge of your own cognitive and interaction style) and the professional level (e.g. presentation skills, brainstorming skills, communication skills, giving and receiving feedback, intercultural awareness).
- To provide you with some basic theoretical frameworks, practical information and hands-on experiences to reflect on and manage group dynamics and interaction between people.
This course includes a mixture of class sessions, coaching in small groups, practical exercises and exchanges with practitioners and alumni. It has two main objectives:
- To support your future career by developing a number of important career competencies.
- To provide you with practical information and training regarding the different stages of the job search process. During and after the course, you will have the opportunity to receive individual feedback on your CV and cover letter and to discuss your job search process with a career advisor. This course will be the start of other events organised by Career Services.
This course is focused on providing you with a foundational understanding of principled, value-enhancing negotiation, which enables you to develop the competence and confidence to successfully negotiate your business and personal future. It draws on principles taken from academic research on negotiation and illustrates them through role plays and practical exercises. The core of the course is a series of simulated negotiations that increase in complexity over the course. We provide a negotiation perspective on topics such as communication, conflict dispute resolution, decision-making, power deployment and persuasion, in order to augment your overall performance.