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Kellogg School of Management

Corporate Finance: Investment Strategies for Creating Shareholder Value

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Next dates

Nov 3—8
6 days
Cook County, Illinois, United States
USD 10500
USD 1750 per day

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Description

This highly collaborative corporate finance program combines the advanced thinking of senior Kellogg faculty and the real-world experience of successful practitioners to show you how to optimize and integrate investment and financing decisions to maximize shareholder value creation. You’ll receive practical guidance on how to determine what investments you should make, which should be divested and the impact of financing strategy on your bottom line.

You’ll explore the latest corporate finance methodologies and frameworks in a lively learning environment that includes lectures, case studies, discussions and a review of current research. Outside of the classroom, you and your peers with work together in study group settings to apply your new knowledge to real-world situations.

Key Benefits

  • Measure the impact of major strategic and operating decisions on shareholder value
  • Evaluate and prioritize strategic investments including capital expenditures, organic growth, mergers and acquisitions and restructuring alternatives
  • Determine the consequences of financing strategies for value creation
  • Accurately estimate firms’ and divisions’ cost of capital and its relation to financial structure

Program Content

Creating Shareholder Value: Evaluation of Investments

  • Analytical techniques
  • Common mistakes made in the evaluation process
  • Financial reporting and resource allocation decisions
  • Modern approaches for the determination of cost of capital
  • Divisional cost of capital
  • Evaluating strategies using real options

Financing Decisions

  • Determinants of financial structure: Is debt good for your firm?
  • Cash distribution strategy: dividends and stock repurchases
  • Stock market reactions to changes in financial policy: the scientific evidence
  • Impact of financing strategies on your firm’s cost of capital
  • Innovative financial instruments

Interaction of Investment and Financing

  • Techniques for analyzing value created by investment and financing strategies
  • Design of consistent investment and financial strategies

Corporate Financial Strategies

  • Valuation of merger and acquisition targets
  • Ownership restructuring: leveraged buyouts
  • Valuation of international investments
  • Value-based management (EVA, CFROI, SVA)

Who should attend

  • Executives who participate in strategic decisions such as capital budgeting, financial planning and mergers and acquisitions
  • Managers with profit and loss or balance sheet responsibilities
  • Executives in financial advisory functions such as consultants, accountants, commercial bankers and investment bankers

Experts

Mitchell Petersen is the Glen Vasel Professor of Finance. He has published widely in finance and economics. Professor Petersen's research is in the area of empirical corporate finance: the questions of how firms evaluate potential investment projects and how they fund such projects. His recent wr...
Artur Raviv is the Alan E. Peterson Distinguished Professor of Finance. He has been a member of the Kellogg faculty since 1981, and served as the chairman of the Finance Department during the years 1986-1989. Prior to joining Kellogg Raviv taught at Carnegie Mellon University and Tel Aviv Univers...
Sergio Rebelo is the Tokai Bank Chair in International Finance at the Kellogg School of Management, where he has served as Chair of the Finance Department. Professor Rebelo does research on macroeconomics and international finance. He has studied the causes of business cycles, the impact of econ...

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