Valuation and Capital Budgeting In a Global Environment
'This course will provide students with the necessary tools, techniques, and models to address capital budgeting problems in finance. Capital budgeting is about finding or creating and analyzing long-term investment projects. Students will be exposed to different project valuation models that are used by financial managers to make effective value-maximizing decisions in a rapidly changing global environment. Teaching is oriented towards case studies and discussion of readings. Case studies should enable students to apply various capital budgeting techniques in a global setting and readings should provide students with understanding of those techniques and current developments in the related areas. The emphasis is on global issues: international asset pricing & CAPM, international cost of capital, global risk in international capital budgeting such as political risk and currency exchange risk, and real options embedded in international investment. The course is designed to help corporate leaders make intelligent decisions on their international investment. '