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Financial Management

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Base Knowledge

Previous knowledge: financial accounting, financial calculation (time value of money) and financial analysis

Teaching Methodologies

The teaching of the course is based on recent research materials and the experience obtained through practice. The pedagogy of the course is strongly interactive. It wants substantial student participation and know-how learning. Teaching methods include group discussion of real cases and individual elaboration of pedagogical exercises. Emphasis is placed on helping students relate concepts, ideas and theories to real practice.

The classes are theoretical-practical, with presence (and active participation) in classes optional, although strongly advised.

Learning Results

The general aim of this course is to provide students with the necessary foundations to rationalize companies’ financial problems, seeking to present a rigorous and in-depth conceptual and methodological framework for their analysis.

In terms of specific competences and objectives, the aim is for students, by the end of this course, to have acquired the knowledge and developed the skills that will enable them, on a conceptual and practical level, to understand, discuss and evaluate the impact of:

1. investment decisions and their ability to create value;

2. decisions on capital structure;

3. decisions on profit distribution policy;

4. decisions on the choice of specific financing sources;

5. financial planning.

Program

  1. INTRODUCTION
    1. The financial management
    2. The objectives of financial management
    3. Main tasks and decisions of financial management. Internal organisation and financial function
    4. The external environment
    5. Agency conficts
    6. Corporate governance and financial management
  2. INVESTMENT DECISIONS: AN INTRODUCTION
    1. The economic and financial decision to implement an investment project
    2. Some Decision Criteria on Project Decision
    3. Some financing solutions for real asset investments
  3. MEDIUM AND LONG TERM FINANCING AND COST OF CAPITAL
    1. Characteristics of the main sources of long-term financing
    2. Main Financial Instruments of the Capital Markets
    3. Capital structure policy and its main determinants
    4. Risk, profitability and opportunity cost of capital: the CAPM and the dividend models
    5. Determination of WACC
  4. DISTRIBUTION TO SHAREHOLDERS
    1. Different forms of distribution of results: dividends and repurchases
    2. Key determinants of the distribution policy
  5. TREASURY MANAGEMENT
    1. Basic principles of treasury management
    2. Working Capital Management
    3. Characteristics of major short-term financial investments
    4. Characteristics of the main sources of short-term financing
  6. FINANCIAL PLANNING
    1. Short-term financial planning: the cash budget
    2. Medium and long-term financial planning: the preparation of the financial planning
    3. Forecasted financial statements: the balance sheet and income statement

 

Curricular Unit Teachers

Carlos Ribeiro de Oliveira Barbosa

Internship(s)

NAO

Bibliography

Mandatory bibliography:

1. Benzinho, J. (2015). Objetivos da empresa, comportamento dos investidores e gestores, governo societário e decisões financeiras. Doi: 10.13140/RG.2.1.4425.8644

2. Benzinho, J. (2016). A distribuição de riqueza pelos proprietários da empresa.

4. Martins, A., Cruz, I., Augusto, M., Silva, P. & Gonçalves, P. (2016). Manual de Gestão Financeira Empresarial, 2a edição, Escolar Editora.

5. Morgado, A. & Dias, J. C. (2011). Fontes de financiamento de médio e longo prazo.

6. Vieito, J. P. & Maquiera, C. P. (2022). Finanças Empresariais – Teoria e Prática, 3ª edição. Escolar

Editora.

Complementary bibliography:

1. Caldeira, H. (2001). Princípios de Gestão Financeira, 13a edição, Editorial Presença.

2. Gomes, A., Nunes, J. P., Ferreira, M. A. &Barroso, C. S. (2020). Finanças Empresariais – Teoria e

Prática, 6a edição, Publisher Team

3. Hawawini, G. & Viallet, C. (2022). Finance for Executives – Managing for Value Creation, 7th

Edition, Cengage Learning.

4. Hill, N.C. & Sartoris, W.L. (1994). Short-Term Financial Management, 3edition, Prentice-Hall.

5. Hillier, D., Ross, S., Westerfield, R., Jaffe, J. & Jordan, B. (2020). Corporate Finance, Fourth European Edition, Mc Graw Hill.

6. Vidigal, J. V. & Ferreira, P. J. S. (2018). Princípios de Gestão Financeira, 2a Edição, Rei dos Livros.