Raising Capital: The Process, the Players, and Strategic Considerations

Description

Firms routinely look to external capital markets for funding and operating investments. Making complete, well-informed financing decisions at the corporate level requires a thorough understanding of capital markets. This course provides the theory behind capital market investments and demonstrates how external factors may influence debt-equity decisions, such as changes within the industry or prevailing economic trends.

Learn to observe external economic data and develop strategies to balance debt and equity at your firm. You’ll also see how decisions regarding corporate restructuring, mergers, acquisitions and bankruptcy are made.

Who Should Enroll in This Course?

This course is designed for non-financial managers who are responsible for making integrated financial decisions and need a fundamental understanding of the process, players, and strategic considerations when raising capital.

Requirements

We recommend completing Risk and Return: How to Identify, Measure, and Incorporate Into Capital Budgeting Decisions (HAME509) prior to enrolling in this course.

Enrollment

To register, contact an Enrollment Counselor at info@ecornell.com or 1-866-326-7635 (+1-607-330-3200 from outside the United States).

Certificate programs are eligible for eCornell Payment Plans. Discounts are available for military personnel, veterans, and Cornell University Alumni. eCornell programs are not eligible for financial aid or federal Pell Grants. Contact an enrollment counselor for more information.

Certificate Information

This course can be applied toward the following certificates:
 

• Financial Management
• Master Certificate in Hospitality Management
• Strategic Leadership for the Hospitality Professional
• Master Certificate in Hospitality Management
• Master Certificate in Healthcare Leadership

CEUs

HRCI Recertification

This program, <~CODE~>, has been approved for six (6) Strategic Management recertification credit hours toward SPHR and GPHR recertification and six (6) recertification credit hours toward PHR, SPHR, and GPHR recertification through the Human Resource Certification Institute. Please contact the Human Resource Certificate Institute (HRCI) for further information about certification or recertification.

Additional Information

Course Format

eCornell takes a problem-based approach to learning, and our courses are built around realistic case studies and scenarios. All courses are self-paced, and are facilitated by an eCornell instructor, who leads the online discussions and is available to answer any questions about the course content.

This course contains the following modules:

• Capital Structure Foundations.
• Evaluating the Firm’s Financing Options.
• The Debt Irrelevance Theorem.
• Trade-Off Theory of Capital Structure.
• The Effect of Taxes on the Firm’s Value.
• The Effect of Financial Distress on the Firm’s Value.
• Pecking Order Theory of Capital Structure.
• Direct Costs of Issuing Securities.
• Indirect Costs of Raising Capital.
• Pulling It All Together – Reconciling and Applying Pecking Order and Trade-Off Theories.

Benefits to the Learner

After completing this course, participants will be able to:

• View the process of raising capital in a broad context of capital-related decisions regarding the mix of capital and the process of entering into capital markets.
• Explain how decisions in your department or division are influenced by capital structuring decisions.
• Explain why changes in the industry and in the economy are important to capital budgeting decisions in your organization.
• Contribute to decisions in your own firm more meaningfully with a good understanding of corporate restructuring, mergers, acquisitions, and bankruptcy.

Authoring Faculty

Steven Carvell, Ph.D., Associate Professor and Associate Dean for Academic Affairs

Scott Gibson, Ph.D., Assistant Professor

Sponsoring School

Cornell University's School of Hotel Administration

Total Learning Time

Approximately 5-6 hours over a period of 2 weeks.

You May Be Interested In...

Students who purchased this course also purchased:
 

• Risk and Return: How to Identify, Measure, and Incorporate Into Capital Budgeting Decisions
• Understanding Financial Statements
• Making Capital Investment Decisions