Description: This course addresses issues relating to valuation, risk management, financing and contractual design for firms operating in international markets. It has a significant exposure to emerging markets as well. We analyze how risk and cash-flows should be evaluated in environments with varying levels of risk such as currency fluctuation, sovereign default, weak property rights etc. We discuss how certain types of risk can be eliminated or managed through the appropriate design of financial contracts, and how institutional differences across countries shape the structure and efficacy of private equity contracts. Other topics covered include firm policy and international tax regimes, microfinance, and valuing social return. The course ends with a discussion on the impact of global financial crises on firm financial policy.
Course #: 15.444
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