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This is a preliminary syllabus and is subject to change
Syllabus BUFN 771: International Corporate and Project Finance
R.H. Smith School of Business
University of Maryland, College Park
Professor Stephen Wallenstein
4458 Van Munching Hall
Office hours widely available (call for appointment)
301-405-7177 (office)
919-452-2112 (cell) swallens@rhsmith.umd.edu International Corporate and Project Finance will meet Thursdays from January 26 – March 8, 2012 from 6:25-10:00 pm at the Ronald Reagan Building.
Introduction
The principles of International Finance are the same as those of regular domestic finance. However, in practice International finance introduces unique challenges given cross boarder capital flows, political risk the importance of multilateral financial institutions. This course applies standard financial theory and tools to international problems with a particular focus on international project finance. This course is intended for students who will be involved at any stage of the investment process from corporate sponsors (as members of the corporate finance or strategic planning departments) to transaction advisors (investment or commercial bankers and management consultants) to investors (people responsible for debt/equity research or money management).
Educational Objectives
The basic objective of this course is to deepen your understanding of corporate finance while at the same time broadening your understanding of finance by venturing into the world of project finance, emerging markets, and international capital markets. Essentially, project companies provide an interesting and very effective setting in which to study core principles of finance and to test where and under what conditions the principles hold. One of the key concepts of the course is the “imperfections framework”: how do market imperfections such as transaction, agency, and financial distress costs affect financing and investment decisions. A
Syllabus BUFN 771: International Corporate and Project Finance
R.H. Smith School of Business
University of Maryland, College Park
Professor Stephen Wallenstein
4458 Van Munching Hall
Office hours widely available (call for appointment)
301-405-7177 (office)
919-452-2112 (cell) swallens@rhsmith.umd.edu International Corporate and Project Finance will meet Thursdays from January 26 – March 8, 2012 from 6:25-10:00 pm at the Ronald Reagan Building.
Introduction
The principles of International Finance are the same as those of regular domestic finance. However, in practice International finance introduces unique challenges given cross boarder capital flows, political risk the importance of multilateral financial institutions. This course applies standard financial theory and tools to international problems with a particular focus on international project finance. This course is intended for students who will be involved at any stage of the investment process from corporate sponsors (as members of the corporate finance or strategic planning departments) to transaction advisors (investment or commercial bankers and management consultants) to investors (people responsible for debt/equity research or money management).
Educational Objectives
The basic objective of this course is to deepen your understanding of corporate finance while at the same time broadening your understanding of finance by venturing into the world of project finance, emerging markets, and international capital markets. Essentially, project companies provide an interesting and very effective setting in which to study core principles of finance and to test where and under what conditions the principles hold. One of the key concepts of the course is the “imperfections framework”: how do market imperfections such as transaction, agency, and financial distress costs affect financing and investment decisions. A