Module: International Corporate Finance

Module Specifications.

Current Academic Year 2024 - 2025

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Date posted: September 2024

Module Title	International Corporate Finance
Module Code	EF597 (ITS) / FBA1035 (Banner)
Faculty	DCU Business School	School	DCU Business School
Module Co-ordinator	Marjan Zhaf
Module Teachers	Claire Kearney, Liam Hourihane, Michael Dowling
NFQ level	9	Credit Rating	5
Pre-requisite	Not Available
Co-requisite	Not Available
Compatibles	Not Available
Incompatibles	Not Available

Repeat examination
Array

Description

This module examines financial decision-making in an international evironment. This is accomplished by first studying the market for currencies and understand the economic equilibrium relationships that affect the value of the currencies. Students will develop understanding of measuring and managing exchange rate risk faced by companies. Investment appraisal will also be studied from an international perspective in order to develop a framework for decision-making regarding foreign direct investments and international portfolio investments. Raising capital globally also allows firms to lower their cost of capital and students will examine the opportunities and risks associated with international financing.

Learning Outcomes

1. Demonstrate an understanding of currency markets and parity relationships in these markets.
2. Appraise the exchange rate risk faced by a company.
3. Appraise the various exchange rate risk management strategies and identify the benefits and risks of each one.
4. Contrast alternative for raising capital globally.
5. Evaluate international foreign direct investments by projecting expected cash flows and applying valuation techniques.
6. Evaluate international portfolio investments.

*Type*	*Hours*	*Description*
Workload	Full-time hours per semester
Lecture	24	No Description
Independent Study	36	Assigned readings
Independent Study	24	Problem sets
Independent Study	41	Exam preparation
Total Workload: 125

All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml

Indicative Content and Learning Activities

Foreign exchange
Introduction to foreign exchange markets, quotation and parity relationships.

Exchange rate risk
Measurement and management of exchange rate exposure. Evaluation of both accounting and economic exposure.

International Capital Budgeting
Cross border cash flow projections, international taxation rules overview, transfer pricing.

International cost of capital
Raising capital globally to minimize cost of capital or for other strategic reasons; measuring international cost of capital.

International portfolio investments
Evalaution of portfolio holding international assets, framework for decision making regarding international portfolios.

Assessment Breakdown
Continuous Assessment	100%	Examination Weight	0%

Type	Description	% of total	Assessment Date
Course Work Breakdown

Reassessment Requirement Type
Resit arrangements are explained by the following categories: Resit category 1: A resit is available for both* components of the module. Resit category 2: No resit is available for a 100% continuous assessment module. Resit category 3: No resit is available for the continuous assessment component where there is a continuous assessment and examination element.
* ‘Both’ is used in the context of the module having a Continuous Assessment/Examination split; where the module is 100% continuous assessment, there will also be a resit of the assessment
This module is category 1

Indicative Reading List

Alan Shapiro: 0, Multinational Financial Management, 8th, John Wiley and Sons,
DK Eiteman, AI Stonehill, and MH Moffett: 0, Multinational Business Finance, 12th, Pearson,
Richard Levich: 0, International Financial Markets, 2nd, McGraw-Hill,

Other Resources

None