s

Seminario Integrador de Finanzas

FZ-5003

Nombre del Profesor:

Dra. Rocío Gómez Tagle Rangel (50%) /

Dr. Gregorio Vázquez Alanis (50%)
 Nombre del curso: Seminario de Finanzas

EGADE Business School, Monterrey

Ubicación y hora del curso:
Profesores
Salón:
Horario: Lunes 18h -21h30 hours
PROFESOR Y NUMERO DE SESIONES QUE MANEJARA
Rocío Gómez Tagle – 1.2.3, 4 5, 6
Gregorio Vázquez Alanis – 7 ,8,9,10,11 y 12

rgomeztagle@itesm.mx
Correo electrónico:
gva@itesm.mx

Previa Cita
Contacto fuera de clase: Oficina: Edificio EGADE Business School
Teléfono: 81-86256000

Course Description

The general objective of this Seminar is to offer the participant an opportunity to put in
practice the models and theory covered in previous courses of the Master in Finance
program in “real life” business situations. To that end, we will review and discuss of a number
of business cases whose common thread is a problematic situation that need a well founded
diagnosis and adequate solutions proposals.

Methodology and Learning Activities

The methodology we will use is the Case Method, as it is known and utilized in the best
business Schools (Harvard, Western Ontario, etc.) This approach is highly flexible and
reinforces the ability to identify problems, analyze the context and with that information, to
develop solution proposals.
The Case Method allows:

a) Relevant information discrimination

b) Exhaustive analysis of a business problematic situation

c) Discussion capabilities

d) Critical tolerance to others’ ideas

The Case method is a learning approach that requires an intense preparation and active in-
class participation of the student. It is possible some students already had the opportunity to
participate in courses in which the Case Method was utilized. That experience will prove
useful, but this time students must not loose sight that the seminar is based and developed
exclusively with the Case Method.

A very succinct guide to analyze and solve business cases in the following:

1. Each student carefully reads and analyzes the case, taking into account the information
that appears both in the text body and in the appendices, and prepares a solution proposal.
To analyze means to search for the relevant information on the actors, circumstances, the
problem or problematic solution that the case presents.

2. After a ¨first cut¨, the student can meet with other students to share her/his individual
reflections and receive feedback. In that way, the individual analysis is enriched by the
feedback of others.
3. Each student must actively participate in the class sessions. The grade of the course fully
depends on the quality and quantity of each student’s participation in class. It is very
important that the student shows the initiative to participate in the solution of a case. Low
participation and/or non-relevant participations will be reflected in the student’s final grade.
Although we have a midterm and a final exams, the main component of the final grade
comes from class participation.

4. For the above reason, assistance to class is a “must” to approve the course.

Grading

This course's evaluation consists of several component grades:

1. Individual participation, as follows:

a) Class interventions that add value to the discussion of the assigned cases (the
professor will keep a record of individual participation at the end of every class); (10%)

b) Presentation in front of the group of cases assigned; (10%)

c) Mid-term examination (20%)

d) Final examination (20%)

2. Group work:

a) Timely delivery of the assigned cases' reports (20%)

b) Original case study and solution proposal (20%)

Each of the two numerals above will have the following weights:

1. 60%

2. 40%
 Class assistance is a must. Your assistance and participation in class are evaluated every
session (i.e., if you do not participate)...your grade suffers.

Each team should upload to blackboard the case solution using a power point or video/ prezi
format. Presentation should contain:

Information about the case.

Diagnosis

Case analysis

Proposal of solution

Limitations of the proposal

 Course Schedule

(all readings belong to the main textbook)

Session Subject Learning Objectives

a) Bay Area Corrugated Pipe* Financial Statements Analysis and Financial

1 (whole case) Planning (I)
b) The Body Shop* (spreadsheet) 9

1) Krispy Kreme Doughnuts, Inc. 8

2) Kota Fibers, Ltd.

Financial Statements Analysis and Financial
2 3) Deutsche Brauerei
Planning (II)
Technical Note: The Thoughtful 6

Forecaster, Case 5., p. 77.

3 1) Worldwide Paper Company 19 Capital Budgeting and Asset Allocation (I)

2) Target Corporation 20
 3) Aurora Textile Company 21

1) Victoria Chemicals plc (A) 24

4 2) Victoria Chemicals plc (B) 25 Capital Budgeting and Asset Allocation (II)

3) Euroland Foods, S.A.

1) Nike, Inc.: Cost of Capital 15

2) Teletech Corporation, 2005 16

3) The Boeing 7E7 17

Technical Note:
5 Cost of Capital
Best Practices in Estimating the
Cost of Capital: Survey and
Synthesis 13

6 Mid Term Exam

1) California Pizza Kitchen 33

2) The Wm.Wrigley Jr. Company:

Capital Structure, Valuation, and
Cost of Capital 34

Technical Notes:
7 1) An Introduction to Debt Policy Capital Structure
and Value 31

2) Structuring Corporate Financial

Policy: Diagnosis of Problems and
Evaluation of Strategies 32

8 1) Gainesboro Machine Tools Stock Repurchases, Dividends and IPOs

 Corporation 29

2) Jet Blue Airways IPO Valuation

45

3) Purinex, Inc. 52

1) Baker Adhesives 38

2) Carrefour S.A. 37
Financial Tactics, Options and Foreign
9 3) MoGen, Inc. 41
Exchange Exposure

1) Arcadian Microarray
Technologies Inc. 44

2) Finder Valves and Controls 50

3) Hershey Foods Corporation:

10 Mergers and Acquisitions (I)
Bitter Times in a Sweet Place 49

Technical Note:

Methods of Valuation for M&A 42

11 Mergers and Acquisitions (I)

1) The Timken Company 47

2) Palamon Capital Partners/Team

System S.p.A. 51
 Caso de Estudio: MFM Formación
de Gobierno Corporativo de
Sociedades Financieras de Objeto
Múltiple

12 Final Exam

Main Textbook :

"Case Studies in Finance" by Bruner, Eades and Schill, Mc Graw Hill Higher Education, 7th
edition. 2014.

Additional references:

1) Analysis for Financial Management, Robert C. Higgins, Sixth (or Seventh) Edition, Mc
Graw Hill, Irwin.

2) The Case Study Handbook, William Ellet, Harvard Business School Press, 2007.

Code of Ethics

Please refer to articles 47-49 in the Legislación Académica para Alumnos de Maestría y
Doctorado 2006. We will not tolerate any form of academic misconduct and will not hesitate
to apply the full power of the academic legislation. We will see that you fail the class and
suffer any other academic sanctions that may apply hence forth.