Ronald O. Perelman Professor in Finance
Research Interests: capital markets, consumer credit, financial intermediation
FNCE383 - STRATEGIC EQUITY FINANCE
This course combines lectures and cases, and will go through actual situations where companies need to make strategic decisins on raising equity capital. We will address different phases of a comany's life cycle. Through these cases, from the decision-makers perspective, we will explore the different paths that can be taken and consider issues such as investor activism, governance and regulatory and valuation impact. FNCE 383 is a half semester course.
FNCE383001 ( Syllabus )
FNCE891 - ADVANCED STUDY PROJECT - CORPORATE RESTRUCTURING
The objective of this course is to familiarize students with financial, legal and strategic issues associated with the corporate restructuring process. The main focus of the course will be on the restructuring of financially distressed firms. We'll begin by reviewing the financial instruments commonly used by risky firms (leveraged loans and high-yield bonds) and learn to interpret the contracts that govern them. We'll then survey a variety of restructuring methods (out-of-court workouts, exchange offers, prepackaged and pre-negotiated bankruptcies, Chapter 11 reorganizations, international insolvency practices) available to troubled firms and study the dynamics of the restructuring process through a number of historical and current case studies. Finally, we'll consider distressed debt as an asset class and develop techniques for investing in distressed securities. The course will provide students with tools to value distressed companies, understand the legal framework governing bankruptcy and reorganization, and navigate the key strategic issues facing managers and investors in distressed companies. It willalso provide students with a specialized vocabulary and important facts about the restructuring industry, distress investing, and leveraged financial markets.