explain and evaluate arguments for adopting shareholder wealth maximisation as the primary objective of a private-sector company and calculate the achievement of this through a range of complementary methods.
Module Title: Strategic Financial Management
Module Code: AC6030
This module supports the student`s study of the relationship between financial markets and companies, in particular the principle of shareholder value maximisation, and the implications of this for internal management of companies and business units. It aims to facilitate the acquisition by students of a balance of skills and knowledge including skills in applying quantitative techniques; the ability to interpret and explain the results of these calculations; the ability to critically evaluate the techniques; and the capacity to relate these to the external contexts in which companies operate and in particular the influence of capital markets on corporate behaviour
- explain and evaluate arguments for adopting shareholder wealth maximisation as the primary objective of a private-sector company and calculate the achievement of this through a range of complementary methods.
- explain, evaluate and apply methods of implementing value-based management in the internal management of companies and divisions.
- evaluate and appraise the working capital management practices of organisations.
- critically evaluate the Capital Asset Pricing Model in comparison with alternative approaches.
- explain and critically evaluate dividend theory and the impact of dividend policies on shareholder wealth.
- appraise the capital structure of organisations with reference to financial and business risk and evaluate sources of long term and short term finance.
- appraise the motives behind corporate restructuring including take-overs and divestments; evaluate alternative financing methods and their impact on financial performance and shareholder wealth; assess alternative methods of company valuation.
- Understand and evaluate the strategies for hedging exchange rate risk
- Understand the contexts in which the financial management function operates within an organisation and its link to the external environment; (PLO1)
- Apply the technical language and practices of Financial Management; (PLO2)
- Select the correct tools to aid management decision making and present the information in an appropriate format; (PLO3)
- Evaluate the contemporary theories and empirical evidence concerning financial management; (PLO4)
- Critically evaluate and analyse financial management techniques, showing the ability to draw reasoned conclusions; (PLO5)
- Manage their learning independently, including being able to find, extract and analyse data from many different sources, and acknowledge and reference these appropriately; (PLO6)
- Apply appropriate communication and numerical skills, including the ability to present quantitative and qualitative information, together with analysis, argument and commentary, in a form which will be understood by its intended audience. (PLO8)
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