Objectives and competences
To enable the student to analyse and assess the specificities and circumstances of a company in crisis and to be able to use legal and financial knowledge to enable the company to prevent crises in time or to be able to rescue the company successfully. Understand and apply corporate finance standards, legal procedures and restructuring, and understand the role of the finance function and analytics in the company.
Content (Syllabus outline)
- Legal and financial dimensions of the crisis
- Legal restructuring and financial distress
- (Pre)Insolvency proceedings
- Financial analysis of a company's business
- Techniques for classifying and predicting corporate financial crises
- Z test analysis and other attempts to classify and predict business failure
- Application of crisis prediction models and the concept of mortality in banking
- Prediction models as catalysts for constructive change
- Restructuring of claims on financiers, suppliers, workers and owners.
- ESG dynamics and relevance in corporate finance
- Responsible and accountable aspects of finance
Intended learning outcomes - knowledge and understanding
Students in this course:
1. The student analyzes and interprets key financial principles and techniques for managing crisis situations in companies. The student uses financial models and techniques to design and implement effective solutions for financial restructuring (PILO 1a, PILO 2b),
2. The student evaluates relevant legal bases and financial principles and models for making informed decisions in companies in crisis (PILO 2a)
3. The student distinguishes and evaluates and develops understanding and awareness of ethical dilemmas in the financial industry and proposes the use of appropriate solutions in the context of crisis management (PILO 4c).
4. The student communicates the use and results of financial analysis and risk assessment with various stakeholders (PILO 3a, PILO 3b).
5. The student synthesize financial and legal information to develop innovative approaches to financial and sound decision-making in the context of crisis management (PILO 1a)
6. The student demonstrates independence, creativity and originality in analyzing and solving financial and legal problems in crisis situations (PILO 4a)
7. The student implements and manages best practices in the operation of systems and companies to ensure ethical and sustainable development of the company (PILO 4b)
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Intended learning outcomes - transferable/key skills and other attributes
Students in this course:
1. The student analyzes and interprets key financial principles and techniques for managing crisis situations in companies. The student uses financial models and techniques to design and implement effective solutions for financial restructuring (PILO 1a, PILO 2b),
2. The student evaluates relevant legal bases and financial principles and models for making informed decisions in companies in crisis (PILO 2a)
3. The student distinguishes and evaluates and develops understanding and awareness of ethical dilemmas in the financial industry and proposes the use of appropriate solutions in the context of crisis management (PILO 4c).
4. The student communicates the use and results of financial analysis and risk assessment with various stakeholders (PILO 3a, PILO 3b).
5. The student synthesize financial and legal information to develop innovative approaches to financial and sound decision-making in the context of crisis management (PILO 1a)
6. The student demonstrates independence, creativity and originality in analyzing and solving financial and legal problems in crisis situations (PILO 4a)
7. The student implements and manages best practices in the operation of systems and companies to ensure ethical and sustainable development of the company (PILO 4b)
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Readings
Obvezna študijska literatura (Compulsory textbooks):
1. Ross, S.A., Westerfield, R.W., Jaffe, J.(2015) Corporate finance, 11th ed., McGraw-Hill Education
2. Altman, E. I., Hotchkiss, E. (2010). Corporate Financial Distress and Bankruptcy: Predict and Avoid Bankruptcy, Analyze and Invest in Distressed Debt. Germany: Wiley.
3. Jovanovič, D., Bratina, B., Črešnik, D. (2023) Podjetniško (korporacijsko) in davčno pravo. 1. izd. Maribor: Založba WD: Poslovna založba, 645 str. ISBN 978-961-94599-7-3.
4. MIKLUŠ, Matjaž, OPLOTNIK, Žan. Capital market response to the change in the dividend policy : the case of Slovenian stock market. Research in applied economics. 2016, vol. 8, no. 1, str. 42-57, tabele. ISSN 1948-5433. http://www.macrothink.org/journal/index.php/rae/article/view/8839, DOI: 10.5296/rae.v8i1.8839. [COBISS.SI-ID 525415961],
5. ZGD-1, ZFPPIPP, študentom je ostalo gradivo na voljo v e-obliki v spletni učilnici.
Dopolnilni viri (Additional textbooks):
6. Stubelj, I., Dolenc, P., Laporsek, S. (2016); Poslovne finance s primeri in z rešitvami, FinKin, Ljubljana
7. Brigham, E.F., Daves, P.R. (2021); Intermediate Financial Management, 14th edition, Boston, Cengage
8. Oplotnik, Z.J., Mlinarič, F. (2007); Zbornik predavanj FUVII (na voljo v e-učilnici)
9. Kodeks poklicne etike poslovnega finančnika. 2001. Ljubljana: Zveza RFRS,
10. Kodeks poslovnofinančnih načel. 1997. Ljubljana: Zveza RFRS.
11. Baze podatkov bonitetnih agencij in javnih evidenc (E-Bonitete, AJPES, ipd)
