WHAT IS AN EXCHANGE STUDY PACKAGE?Exchange Study Packages are balanced, coherent, well-structured, and self-contained sets of courses at a final Bachelor year academic level. Choosing one of these packages means you do not have to worry about selecting the right courses or managing your calendar to fit all of your classes. Simply apply for a package that suits your academic background and interest to be ensured of a well-balanced exchange programme, often consisting of 30 EC. These packages are generally accessible to students who have successfully completed the first two years of their Bachelor programme.

EXCHANGE STUDY PACKAGE

EXCHANGE STUDY PACKAGE

WWW.UTWENTE.NL/GO/EXCHANGE

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FINANCING ENTREPRENEURIALSTARTUPS AND INNOVATIVE FIRMS

This module will provide students a good understanding of

various financial management decisions made in practice.

They will know how firms interact with diverse categories of

investors and capital markets; how financial decisions are

affected by global, economic, social and technological

considerations; and how these decisions can subsequently

affect firm performance.

Learning Goals:Upon successful completion of this course, studentswill be able to:1. explain different ways in which entrepreneurial start-

ups, small- & medium-sized enterprises and multina­tional firms organize and manage major financial

management functions;2. describe the organization of international financial

markets & institutions;3. apply different valuation techniques, the modern

portfolio theory and asset pricing models to financialassets like stocks, bonds and options;

4. undertake analysis to make asset allocation decision,design investment portfolios and financial models,and evaluate portfolio / investment performance;

5. analyze problems related to financial planning, capitalstructure, dividends & share repurchases, mergers &acquisitions, restructuring and risk management; anddiscuss the impact of these decisions on firmperformance / value;

6. apply tools, methodologies and IT techniques used inmaking financial decisions;

7. distinguish between the operations of purelydomestic and multinational firms, and explain thedifferences related to capital budgeting, capitalstructure, cash and risk management in globalcontext;

8. describe how investors and firms deal with new

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www.utwente.nl/en/education/exchange-students/departmental-exchange-coordinators/

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financial innovation, financial technology, e-finance,and new trends in financing and investment such ascrowd funding, socially responsible investments andemerging markets investment;

9. describe how human behavior and psychologyinfluence investment decisions.

ContentFinancial managers of firms - be these entrepreneurialstart-ups, small- and medium-sized enterprises, or well-established multinational firms - need to take smartdecisions that can create firm value. They communicatewith the capital market and raise necessary funds tocarry out the required investments; they also ensuregenerating sufficient cash to re-invest and paybackinvestors. Financial managers also regularly take manyother decisions. SMEs in particular are furtherconfronted with the option whether to continueaccessing funds from banks or to go for initial publicoffering and issue new securities in the public capitalmarket. In addition, finance managers deal withproblems and challenges coming from innovativedevelopments driven by institutional changes andtechnological advances. New financing options likecrowd funding, securitization of business loans havebecome popular. Innovative practices like onlinebanking, e-finance are creating serious securitychallenges for firms. Business students should thereforepossess good understanding of various financialdecisions made in practice, and more importantly, howthese decisions can subsequently affect firmperformance. They should also be familiar with thefinancial management tools and techniques specificallyused by entrepreneurial start-ups and the importantroles played by venture capital and private equity.The module will cover financial management decisionsby combining theoretical concepts with institutionalcontexts and real-life examples. Students will deepentheir understanding of financial statements and howfirms interact with diverse categories of investors andcapital markets. They will learn how financial decisionsare affected by global, economic, social and

technological considerations. Specific focus will begiven to issues related to financial innovation, financialtechnology, e-finance, behavioural finance, and theevolving societal trends such as crowd funding, sociallyresponsible investments and emerging marketsinvestment.

Course Code201500016 SemesterSpring, block 4

Financial managers of firms -be these entrepreneurial start-ups, small- and medium-sizedenterprises, or well-establishedmultinational firms - need totake smart decisions that can

create firm value.

to be paid at home institution.

ADMISSION CRITERIA60EC in relating study area

STUDY LOAD15 EC

STARTSpring Semester

For more information about this Exchange StudyPackage, contact the Departmental ExchangeCoordinator of the Faculty of Behavioural,Management and Social Sciences.utwente.nl/go/exchange-coordinators