Advanced Corporate Finance

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University of Puget Sound
School of Business and Leadership

BUS 434 Advanced Corporate Finance
Professor Alva Wright Butcher
Tues-Thurs 11:00-12:20 McIntyre 107
Spring Semester 2012

Office: McIntyre 111 IPhone: 253-879-3349FAX: 253-879-3156

Office Hours:T-Th: 1:00-1:50
Wed: 9:30-10:30
And by appointment
Note that I am always willing to schedule additional office hours by appointment. I check email frequently, so that is also a good way to communicate. Do not hesitate to call me at home. If you cannot reach me, please leave a number so that I can get back to you.

Email:butcher@pugetsound.edu

Home:206-285-3990 or 360-779-4706

Required Course Materials:
1. Brigham and Daves, Intermediate Financial Management, 10th Edition, South-Western, Cengage Learning, 2010

2. Cases from Harvard Business School, the University of Virginia Darden School, and the Stanford Graduate School of Business The URL is http://cb.hbsp.harvard.edu/cb/access/11776381. This allows you to purchase these cases online at a student discount. ▪ Spyder Active Sports 2004 (Valuation of a family controlled firm) ▪ Wood-Tech Inc. (Valuation of a privately held firm. This is not a Harvard Case. I will provide you with a copy of this case.) ▪ New Heritage Doll Company: Capital Budgeting ▪ Dividend Policy at FPL Group Inc

▪ Investment Banking in 2008(A): Rise and Fall of the Bear ▪ Ben & Jerry’s Homemade (Evaluation of competing takeover offers) ▪ Volkswagen and Porsche: One Family, Two Car Companies, & a Battle for Corporate Control (This is not a Harvard Case. I will provide you a copy of this case) ▪ How Venture Capitalists Evaluate Potential Venture Opportunities ▪ Juniper Networks (The quest for external financing.) ▪ RJR Nabisco (Evaluation of the Leveraged Buyout)

3. During the semester we will be reading several relevant articles. One is noted below. Others will be assigned later in the semester. These can be downloaded from the library’s online data base, Business Source Premier. • “Using APV: A Better Tool for Valuing Operations,” Timothy Luehrman, Harvard Business Review, May-June, 1997, Vol. 75, Issue 3, p145-154. 4. A financial calculator. The calculator must have functions for bond valuation, net present valuation (NPV), internal rate of return (IRR), present value (PV), and future value (FV). One suitable calculator is the HP10-B. It is available in the bookstore for around $30.

Recommended:
Subscription to the Wall Street Journal or the Financial Times We will be working with the Wall Street Journal during several class sessions. As a business student, you should read this publication regularly.

References and Support Materials:
1. Please contact me for other sources that deal with this material. Some excellent references are: Brealey and Myers, Principles of Corporate Finance
Copeland and Weston, Financial Theory and Corporate Policy
Higgins, Analysis for Financial Management
2. Self-Test Questions are available in each chapter of the text. 3. Intermediate steps and final answers to selected end-of-chapter problems can be found in Appendix B of the text. 4. The website for this text provides a range of support materials. These include: o Key terms for each chapter

o Build a model spreadsheet templates. Selected chapters end with an integrative spreadsheet problem that allows you to apply concepts in the chapter. These spreadsheet templates provide the data given in the problem and facilitate the development of the spreadsheet model. o Downloadable Mini-Cases

o Web extensions – additional discussion or examples pertaining to the material in...
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