| School/Faculty/Institute | Faculty of Economics, Administrative and Social Sciences | ||||
| Course Code | FIN 336 | ||||
| Course Title in English | Mergers and Acquisitions | ||||
| Course Title in Turkish | Birleşmeler ve Satın Almalar | ||||
| Language of Instruction | EN | ||||
| Type of Course | Flipped Classroom | ||||
| Level of Course | Intermediate | ||||
| Semester | Spring | ||||
| Contact Hours per Week |
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| Estimated Student Workload | 131 hours per semester | ||||
| Number of Credits | 5 ECTS | ||||
| Grading Mode | Standard Letter Grade | ||||
| Pre-requisites |
FIN 202 - Finance | FIN 204 - Corporate Finance |
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| Expected Prior Knowledge | None | ||||
| Co-requisites | None | ||||
| Registration Restrictions | Only Undergraduate Students | ||||
| Overall Educational Objective | To learn to understand and evaluate Mergers and Acquisitions (M&As) from a financial perspective within a local and international context across major industries (i.e. finance, technology, industrial sectors). | ||||
| Course Description | M&As, originally an Anglo-Saxon phenomenon has become a mainstream corporate finance activity around the globe during the last several decades. In todays business environment, it is crucially important to understand mergers and acquisitions (M&As); the motivations behind, types of transactions, value creation aspects of M&As within a local and global perspective. The course shall make significant contribution to the knowledge of the students in this field and help them to be prepared to understand and evaluate M&As accordingly. | ||||
| Course Description in Turkish | Orijinal olarak Anglo-Saxon dünyasına özgü olan şirket Birleşme ve Devralmaları özellikle son 30-40 yıldan bu yana dünyanın her bölgesinde sıklıkla rastlanan birçok önemli bir kurumsal finansman faaliyeti haline gelmiştir. Günümüz iş dünyasında Birleşme ve Devralma işlemlerini, türleri, arkasında yatan nedenleri ve değer yaratma özelliklerini anlamak büyük önem taşımaktadır. Bu ders öğrencilerin bu alandaki bilgi birikimlerine önemli katkıda bulunarak bu işlemleri daha iyi anlamaları ve değerlendirmelerini sağlayacaktır. |
Course Learning Outcomes and CompetencesUpon successful completion of the course, the learner is expected to be able to:1) define and identify different types of M&As 2) understand the merger waves in a local and global context 3) work with local and international M&A regulations 4) analyze financial statements and valuation for M&A transactions 5) understand value creation effects by using local and international cases of M&A |
| Program Learning Outcomes/Course Learning Outcomes | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| 1) Thorough knowledge of the major concepts, theoretical perspectives, empirical findings, and historical trends in psychology. | |||||
| 2) Understanding of and ability to apply essential research methods in psychology, including research design, data analysis, and data interpretation. | |||||
| 3) Competence to use critical and creative thinking, skeptical inquiry and a scientific approach to solving problems related to behavior and mental processes. | |||||
| 4) Understanding and ability to apply psychological principles, skills and values in personal, social, and organizational contexts. | |||||
| 5) Ability to weigh evidence, to tolerate ambiguity, and to reflect other values that underpin psychology as a discipline. | |||||
| 6) Internalization and dissemination of professional ethical standards. | |||||
| 7) Demonstration of competence in information technologies, and the ability to use computer and other technologies for purposes related to the pursuit of knowledge in psychology and the broader social sciences. | |||||
| 8) Skills to communicate the knowledge of psychological science effectively, in a variety of formats, in both Turkish and in English (in English, at least CEFR B2 level). | |||||
| 9) Recognition, understanding, and respect for the complexity of sociocultural and international diversity. | |||||
| 10) Recognition for the need for, and the skills to pursue, lifelong learning, inquiry, and self-improvement. | |||||
| 11) Ability to formulate critical hypotheses based on psychological theory and literature, and design studies to test those hypotheses. | |||||
| 12) Ability to acquire knowledge independently, and to plan one’s own learning. | |||||
| 13) Demonstration of advanced competence in the clarity and composition of written work and presentations. |
| N None | S Supportive | H Highly Related |
| Program Outcomes and Competences | Level | Assessed by | |
| 1) | Thorough knowledge of the major concepts, theoretical perspectives, empirical findings, and historical trends in psychology. | N | |
| 2) | Understanding of and ability to apply essential research methods in psychology, including research design, data analysis, and data interpretation. | N | |
| 3) | Competence to use critical and creative thinking, skeptical inquiry and a scientific approach to solving problems related to behavior and mental processes. | H | Exam,HW,Participation |
| 4) | Understanding and ability to apply psychological principles, skills and values in personal, social, and organizational contexts. | N | |
| 5) | Ability to weigh evidence, to tolerate ambiguity, and to reflect other values that underpin psychology as a discipline. | N | |
| 6) | Internalization and dissemination of professional ethical standards. | N | |
| 7) | Demonstration of competence in information technologies, and the ability to use computer and other technologies for purposes related to the pursuit of knowledge in psychology and the broader social sciences. | N | |
| 8) | Skills to communicate the knowledge of psychological science effectively, in a variety of formats, in both Turkish and in English (in English, at least CEFR B2 level). | N | |
| 9) | Recognition, understanding, and respect for the complexity of sociocultural and international diversity. | S | Participation |
| 10) | Recognition for the need for, and the skills to pursue, lifelong learning, inquiry, and self-improvement. | S | HW,Participation |
| 11) | Ability to formulate critical hypotheses based on psychological theory and literature, and design studies to test those hypotheses. | N | |
| 12) | Ability to acquire knowledge independently, and to plan one’s own learning. | S | Exam,HW |
| 13) | Demonstration of advanced competence in the clarity and composition of written work and presentations. | H | Exam,HW |
| Prepared by and Date | METİN YILMAZ , January 2019 |
| Course Coordinator | MERVE ÖZ |
| Semester | Spring |
| Name of Instructor | Öğr. Gör. METİN YILMAZ |
| Week | Subject |
| 1) | Theories and motivations for M&A, definitions and types of transactions |
| 2) | Merger waves |
| 3) | Regulation of M&A in Turkey and abroad |
| 4) | Synergies and value creation |
| 5) | Financial analyses |
| 6) | Project presentation: Analyses of M&A cases from a value creation perspective |
| 7) | M&As in Turkey |
| 8) | Case studies |
| 9) | Case studies |
| 10) | Valuation methods |
| 11) | Mid-term exam |
| 12) | M&As in industrial sectors |
| 13) | M&A in financial services |
| 14) | M&A in technology industry |
| 15) | Final Examination Period |
| 16) | Final Examination Period |
| Required/Recommended Readings | Recommended: -Bruner, Case Studies in Finance: Managing for Corporate Value Creation, McGraw Hill, 7th ed., (2013) -Ernst&Young Turkey, Mergers and Acquisitions annual reports, 2017 and previous years | |||||||||||||||
| Teaching Methods | There will be lectures, related videos, readings and guest speakers from the industry. Students are expected to work independently and in teams for projects. | |||||||||||||||
| Homework and Projects | The students as small teams are expected to work on M&A cases on the first project. | |||||||||||||||
| Laboratory Work | ||||||||||||||||
| Computer Use | ||||||||||||||||
| Other Activities | 2 or 3 guest speakers from the investment banking industry will be invited to the class to make presentations or discuss the relevant topics. | |||||||||||||||
| Assessment Methods |
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| Course Administration |
yilmazme@mef.edu.tr 0212-395 3663, office hours: 08:00-17:00 weekdays, |
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| Activity | No/Weeks | Hours | Calculation | ||||
| No/Weeks per Semester | Preparing for the Activity | Spent in the Activity Itself | Completing the Activity Requirements | ||||
| Course Hours | 14 | 2 | 3 | 2 | 98 | ||
| Project | 1 | 15 | 6 | 1 | 22 | ||
| Midterm(s) | 1 | 8 | 2 | 1 | 11 | ||
| Total Workload | 131 | ||||||
| Total Workload/25 | 5.2 | ||||||
| ECTS | 5 | ||||||