Corporate Restructuring

Graduate Program (& Advanced Certificate) Status

Course Level: 
Master’s
Campus: 
Vienna
Course Open to: 
Students on-site
Academic Year: 
2020-2021
Term: 
Spring
US Credits: 
2
ECTS Credits: 
4
Course Description: 

Corporate restructuring entails any fundamental change in a company's business or financial structure, designed to increase the company's value. This course aims to cover both aspects of corporate restructuring:  financial restructuring and operational restructuring.  Financial restructuring considers various improvements made to a firm’s capital structure, in line with their cash-flow needs to promote efficiency, support growth, and maximize the value to shareholders, creditors and other stakeholders.  Operational restructuring is the process of increasing the economic viability of the underlying business model through mergers and acquisitions or divestitures.

Learning Outcomes: 

Core Learning Area          

Learning Outcomes                                            

Interpersonal and communication skills.         

Participate in class discussions and problem solving exercises. They will be able to present their arguments or findings, persuade fellow students of the usefulness of their own conclusions and objectively critique findings presented by their fellow students

Technology Skills               

Demonstrate an ability to use MS Excel tools in problem solving.

Quantitative Reasoning 

Apply financial models and formulae to evaluate key parameters in the restructuring analysis

Critical Thinking               

Exercise powers of inquiry, logical thinking, and critical analysis of arguments and evidence. Interpret and evaluate theoretical arguments and empirical evidence.

Management knowledge and skills                            

Provide a comprehensive understanding of the principles and techniques of corporate restructuring analysis.  Students are exposed to a number of economic and accounting concepts that practitioners in the field use and apply. 

 

Assessment: 

The assessment for the course comprises of 4 sections, with weighting as follows: 

5% Peer assessment for Group assignment

15% Class attendance, in-class participation and online project consultations

30% Two in-class mini quizzes

50% Group assignment

 

The grade obtained for the course is marked against the standards of the CEU and as such, is final and non-negotiable. No emails/conversations on trying to better your score will be entertained after the exam.

The group assignment requires you to work in teams of 4 persons to identify and determine the optimal capital structure of a listed company.  The assignment details will be furnished during Lecture 1.  You will be required to address the questions in the assignment and submit a professional report at the end of the course. 

There is a peer evaluation component to this assignment and it comprises 5% of your final grade.  All team members should provide a peer evaluation, ranking each member (including oneself), and providing a rationale for the evaluation.  Peer evaluation serves as a factor in assessing individual contributions to the success of the project. The project is graded based 50% on individual effort and 50% on group results. The peer evaluation is kept confidential and not shared. 

Prerequisites: 

All enrolled students should have shown successful completion of core finance and accounting courses at graduate level.

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