Objectifs pédagogiques
This course seeks to provide participants with an introduction to International Finance. It will give students a basic understanding of both market finance and corporate finance and will more specifically focus on the financial risks and business risks involved in international business decisions.
The first part of the course seeks to explain the impact of exchange rates on business decisions and introduce how financial markets have created their own way of offering insurance against financial loss in the form of contracts called derivatives. It provides participants with the necessary tools to help assess the advantages and the ethics of the various hedging mechanisms in an international context (as opposed to a speculative investor behavior).
The second part of the course seeks to explain why, for instance, a Moroccan company should decide to purchase another company in Côte d'Ivoire and how the risk/attractiveness of such an investment is assessed. It provides the critical tools to assess stakeholder value (versus shareholder value) in business decisions and understand the principle of 'shared value'.