Raising Capital: The Process, the Players, and Strategic Considerations

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Course Description PDF

Course Focus

Learn about the decision frameworks financial professionals use to arrive at the company's optimal capital structure. Obtain a thorough understanding of the strategic considerations involved in raising funds for the purpose of investing in projects. Find out how capital structure decisions at the company level influence project decisions at the departmental level.

Firms routinely require access to external capital markets in order to fund capital and operating investments. Making complete, well-informed financing decisions at the corporate level requires a thorough understanding of capital markets. This course provides an introduction to the issues surrounding the debt-equity decision. It explains how decisions at the department or division level are influenced by capital structuring decisions at the company level and why changes in the industry and in the economy are important to investment and financing decisions in your organization.

This course goes beyond a standard theoretical treatment of capital structure to explain fully how characteristics of capital markets impact the process and prospects of raising capital. Through an exploration of the strategic considerations involved in creating an optimal mix of debt and equity, this course addresses questions about the process of raising funds and the appropriate amounts of debt and equity to raise.

Through it, you gain the insight you need to contribute to decisions in your own firm and obtain a more complete understanding of corporate restructuring, mergers, acquisitions, and bankruptcy.

Who Should Take this Course?

This course is designed for non-financial managers who are responsible for making integrated financial decisions and need a fundamental understanding of the process, players, and strategic considerations of raising capital.

Key Benefits

Participants who complete this course will be able to...

  • View the process of raising capital in a broad context of capital-related decisions regarding the mix of capital and the process of entering into capital markets
  • Explain how decisions in your department or division are influenced by capital structuring decisions
  • Explain why changes in the industry and in the economy are important to capital budgeting decisions in your organization
  • Contribute to decisions in your own firm more meaningfully with a good understanding of corporate restructuring, mergers, acquisitions, and bankruptcy

Topics Include

Module 1 - Financing Choices and the Debt-Irrelevance Proposition

  1. The Optimal Mix of Debt and Equity
  2. Debt vs. Equity

Module 2 - Factoring Taxes into the Financing Decision

  1. How Debt Creates Benefits for the Firm
  2. Factoring Taxes into the Financing Decision

Module 3 - Financial Distress Costs

  1. Costs Due to Liquidation, Reorganization, and Shareholder Perceptions
  2. Structuring Debt to Mitigate Financial Distress Costs
  3. Fixed Rate vs. Floating Rate

Module 4 - Factoring Transaction Costs into the Financing Decision

  1. Underpricing and the Cost of IPOs
  2. Weigh the Costs for IPOs

Module 5 - Key Theories of Capital Structure

  1. The Pecking Order Theory Defined
  2. Introduction to the Trade-Off Theory
  3. Reconciling the Pecking Order Theory and the Trade-Off Theory

Faculty

Course Cost US$769
Hours to Complete Course: 6
CEUS earned 0.6
This course is part of one or more online certificates:

Please choose from the following course start dates:

20 June 2018
18 July 2018
15 August 2018
12 September 2018
10 October 2018
07 November 2018
05 December 2018
02 January 2019
30 January 2019
27 February 2019
27 March 2019
24 April 2019
22 May 2019
19 June 2019
17 July 2019
14 August 2019
11 September 2019
09 October 2019
06 November 2019
04 December 2019
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