FINANCE 3332 Principles of Financial Management Fall 2022 –Section # 20704 Tue. & Thu., 2:30pm - 4:00pm at MH-160 Course Syllabus Instructor Masim Suleymanov Email: msuleyma@bauer.uh.edu msuleymanov@uh.edu Office: CBB 302F Office hours: Tuesday – 4 pm – 5 pm (or online by appointment) Zoom link: https://zoom.us/j/98134117750 Class Meetings Time: Tuesday/Thursday, 1:00 pm - 2:30 pm Location: Melcher Hall 160 Instruction Mode: Face-to-Face (No remote option) Course Description This is a junior-level course in finance designed to provide exposure to the theory and practice of corporate financial management and to demonstrate how financial management techniques are applied in corporate decision-making. Topics include the time value of money, stock and bond valuation, capital budgeting, and risk and return. We discuss and apply the basic concepts, principles, and analytical tools related to financial management by working on practical examples and in-class problems, as well as homework assignments. Prerequisite The prerequisites for this course are the following: • Junior Standing • ACCT 2331: Financial Accounting • MATH 1313: Finite Math with Applications • MATH 1314: Calculus for Business and the Life Sciences The instructor is not authorized to waive prerequisites. Instructional Assistance Emran Bigdeli Azari Email: Ebigdeli@cougarnet.uh.edu Office: CBB 302F Office hours: Thursday – 4 pm – 5 pm (or online by appointment) The TA will be the first person you contact when you have a question regarding any aspect of the course (assignments, grades, etc.) The TA will contact the professor if they cannot resolve your issue. Textbook and Course Material • Required Textbook: available at the bookstore or through the website http://www.pearsonmylabandmastering.com/ Fundamentals of Corporate Finance (PLUS MyFinanceLab) Authors: Berk, DeMarzo & Harford Publisher: Pearson; 5th edition. Students can purchase the “MyFinanceLab access card with e-text” or the “Student Value edition with MyFinanceLab access card” Please check the last page of the syllabus for registration details. Pearson Technical Support Options: US Students: Text “Hi” to 1-866-264-0618 Technical Support website: https://support.pearson.com/getsupport/s/ Speak with Tech Support Agent Now: https://support.pearson.com/getsupport/s/contactsupport • Recommended Readings: Short articles from the Wall Street Journal and other specialized business publications will be assigned and posted on Blackboard over the semester. Students are encouraged to read the Wall Street Journal regularly. • Financial Calculator: You may use any Financial Calculator you like (the ones with the PV, FV, PMT, I, and N keys). However, we will use TI BA-II Plus in class. If you decide to get a different one, you will be responsible to learn the differences. You can use this website as a tutorial for almost any calculator: http://www.tvmcalcs.com/ Grading The course will be evaluated based on the criteria mentioned below: COMPONENTS • • • Online homework assignments with MyFinanceLab: Class Participation: Exams: o Exam 1: o Exam 2: o Final Exam: TOTAL: POINTS 30 10 20 20 20 100 Online Homework Assignments with MyFinanceLab • There are ten graded online homework assignments, each worth 3 points adding up to a total of 30 points for all assignments. • All online homework assignments will be posted and submitted through MyFinanceLab, under the folder “Assignments”. • • • Each homework assignment will be posted ten days prior to its due date. Due dates are posted on the class schedule toward the end of the Syllabus. Late submissions will not be accepted. Students will have access to assignment solutions after the due date. Students will be allowed three attempts to complete each assignment, and the recorded score will be the highest score out of the three attempts. There is no time limit to submit each attempt – answers can be “saved for later”. However, questions must be answered in the order that is presented, and at each attempt, answers can’t be changed after the question is completed. Class Participation • Students are strongly encouraged to participate in class. Students should bring their smartphones, tablets, or laptops to class to answer in-class questions through the MyFinanceLab application “Learning Catalytics”. We will demonstrate the use of this application in the second or third week of classes. Students with no access to smartphones, tablets, or laptops should email the instructor for alternative arrangements for class participation. Exams • The exams will be based on the material covered in class, required readings, and assignments. • All exams include multiple choice questions and short answer questions. • A set of practice questions will be posted on Blackboard one week in advance, and we will have a review session before each exam. It is very important to work on the practice questions BEFORE the review session. • Exam dates are posted on the class schedule. • Exams will be held at the CASA Testing Center. Additional information will be provided one week before the exams. • No books or class notes are allowed during exams. A formula sheet will be provided by the instructor (attached to the exam) and shared with the students one week before each exam. • A financial calculator (TI BA-II Plus or similar) is required for the exams. Each student must have his / her own calculator. Calculators cannot be shared. Each student is fully responsible for mastering his / her calculator’s functions and correct use. • Identification (ID) Policy: Students are required to bring two valid photo IDs for all exams. • Computers, cell phones, and any other devices capable of storing information relevant to the exams (watches, etc.) are not allowed during exams. • No breaks are allowed during exams. Letter grades are assigned according to total points accumulated (course score), following the grading scale below: A AB+ B BC+ ≥ 92 90 87 82 80 77 < 105 92 90 87 82 80 C CD+ D DF ≥ 72 70 67 62 60 0 < 77 72 70 67 62 60 No additional points, extra credit, or course score “rounding” will be added to the course score. Preparing for Class • • • • Assigned readings for the lectures and a summary of the topics to be covered in class are posted on the class schedule. Students are encouraged to cover the readings before class. Lecture notes will be posted on Blackboard at the beginning of each week. Students should bring their smartphones, tablets, or laptops to class to answer inclass questions and problems through MyFinanceLab. Students with no access to a smartphone, tablet, or laptop should email the instructor for alternative arrangements for class participation. Completion of all homework assignments and additional practice problems is expected for a good performance in the course. Students are strongly encouraged to work on examples covered in class and suggested problems from the textbook. Suggested problems will be assigned for each chapter. Class Policies • • • • • Attendance and class participation are essential for this course. We will have regular discussions at the beginning of each class covering current news related to the course and all students are strongly encouraged to participate. Students should avoid disrupting class by arriving late or leaving early. Students are very welcome to stop by during office hours, to clarify the material, ask for further references, or simply discuss course topics of interest. The students should take advantage of this resource throughout the semester, not only before exams! Students are responsible for checking Blackboard regularly for updated materials and announcements. Cell phones must be used in class exclusively for accessing MyFinanceLab applications. Headphones are not allowed during lectures. • • • Taking photos or making audio or video recordings of lectures without permission of the instructor is not allowed. All students MUST behave in a professional manner during class and be respectful to all classmates and to the Professor. It is expected that you provide your full attention during class. This means that you must avoid unnecessary discussions with fellow students; using your electronic devices to surf the internet, play games, check email, send/receive text messages; read newspapers or magazines, or other activities not directly related to the classroom instruction. Students that do not follow these rules on a regular basis will be required to present extra work, in the form of a short (5-10 minutes) in-class presentation of a Wall Street Journal article assigned by the instructor. Re-grading and make-up exam • • Requests for re-grading of exams will be accepted but must be made within two weeks after the exam grades are posted. The request must include a typed detailed note for each question with a grading discrepancy. However, the students must be aware that the entire exam will be re-graded, not only the specified questions (i.e. the grade might actually be lower after re-grading). If a student is unable to attend an exam, the instructor must be notified as soon as possible – and at least twenty-four hours prior to the exam time. Under exceptional circumstances only, the instructor might allow for a make-up exam to be discussed on a case-by-case basis and with sufficient evidence of the circumstances. The decision will be made at the discretion of the instructor, and all required paperwork must be submitted for approval by the Department of Finance. University Policies Academic Honesty Policy High ethical standards are critical to the integrity of any institution and bear directly on the ultimate value of conferred degrees. All UH community members are expected to contribute to an atmosphere of the highest possible ethical standards. Maintaining such an atmosphere requires that any instances of academic dishonesty be recognized and addressed. The UH Academic Honesty Policy is designed to handle those instances with fairness to all parties involved: the students, the instructors, and the University itself. All students and faculty of the University of Houston are responsible for being familiar with this policy. COVID-19 Information If you are experiencing any COVID-19 symptoms that are not clearly related to a preexisting medical condition, do not come to class. Please see Student Protocols for what to do if you experience symptoms and Potential Exposure to Coronavirus for what to do if you have potentially been exposed to COVID-19. Consult the (select: Undergraduate Excused Absence Policy or Graduate Excused Absence Policy) for information regarding excused absences due to medical reasons. Students are encouraged to visit the University’s COVID-19 website for important information including diagnosis and symptom protocols, on-campus testing, and vaccine information. Please check the website throughout the semester for updates. Vaccinations Data suggests that vaccination remains the best intervention for reliable protection against COVID-19. Students are asked to familiarize themselves with pertinent vaccine information and to consult with their health care provider. The University strongly encourages all students, faculty, and staff to be vaccinated. Reasonable Academic Adjustments/Auxiliary Aids The University of Houston complies with Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, pertaining to the provision of reasonable academic adjustments/auxiliary aids for disabled students. In accordance with Section 504 and ADA guidelines, UH strives to provide reasonable academic adjustments/auxiliary aids to students who request and require them. If you believe that you have a disability requiring an academic adjustment/auxiliary aid, please contact the Justin Dart Jr. Student Accessibility Center (formerly the Justin Dart, Jr. Center for Students with DisABILITIES). Excused Absence Policy Regular class attendance, participation, and engagement in coursework are important contributors to student success. Absences may be excused as provided in the University of Houston Undergraduate Excused Absence Policy and Graduate Excused Absence Policy for reasons including: medical illness of student or close relative, death of a close family member, legal or government proceeding that a student is obligated to attend, recognized professional and educational activities where the student is presenting, and University-sponsored activity or athletic competition. Under these policies, students with excused absences will be provided with an opportunity to make up any quiz, exam or other work that contributes to the course grade or a satisfactory alternative. Please read the full policy for details regarding reasons for excused absences, the approval process, and extended absences. Additional policies address absences related to military service, religious holy days, pregnancy and related conditions, and disability. Recording of Class Students may not record all or part of class, livestream all or part of class, or make/distribute screen captures, without advanced written consent of the instructor. If you have or think you may have a disability such that you need to record class-related activities, please contact the Justin Dart, Jr. Student Accessibility Center. If you have an accommodation to record class-related activities, those recordings may not be shared with any other student, whether in this course or not, or with any other person or on any other platform. Classes may be recorded by the instructor. Students may use instructor’s recordings for their own studying and notetaking. Instructor’s recordings are not authorized to be shared with anyone without the prior written approval of the instructor. Failure to comply with requirements regarding recordings will result in a disciplinary referral to the Dean of Students Office and may result in disciplinary action. Syllabus Changes Due to the changing nature of the COVID-19 pandemic, please note that the instructor may need to make modifications to the course syllabus and may do so at any time. Notice of such changes will be announced as quickly as possible through Blackboard announcements. Webcams Access to a webcam is required for students participating remotely in this course. Webcams must be turned on during exams to ensure the academic integrity of exam administration. We will use Respondus Lockdown Browser with webcam to administer the exams. UH Email Please check and use your Cougarnet email for communications related to this course. To access this email, login to your Microsoft 365 account with your Cougarnet credentials. Resources for Online Learning The University of Houston is committed to student success and provides information to optimize the online learning experience through our Power-On website. Please visit this website for a comprehensive set of resources, tools, and tips including: obtaining access to the internet, AccessUH, and Blackboard; requesting a laptop through the Laptop Loaner Program; using your smartphone as a webcam; and downloading Microsoft Office 365 at no cost. For questions or assistance contact UHOnline@uh.edu. Title IX/Sexual Misconduct Per the UHS Sexual Misconduct Policy, your instructor is a “responsible employee” for reporting purposes under Title IX regulations and state law and must report incidents of sexual misconduct (sexual harassment, non-consensual sexual contact, sexual assault, sexual exploitation, sexual intimidation, intimate partner violence, or stalking) about which they become aware to the Title IX office. Please know there are places on campus where you can make a report in confidence. You can find more information about resources on the Title IX website at https://uh.edu/equal-opportunity/title-ix-sexualmisconduct/resources/. Security Escorts and Cougar Ride UHPD continually works with the University community to make the campus a safe place to learn, work, and live. Our Security escort service is designed for the community members who have safety concerns and would like to have a Security Officer walk with them, for their safety, as they make their way across campus. Based on availability either a UHPD Security Officer or Police Officer will escort students, faculty, and staff to locations beginning and ending on campus. If you feel that you need a Security Officer to walk with you for your safety please call 713-743-3333. Arrangements may be made for special needs. Parking and Transportation Services also offers a late-night, on-demand shuttle service called Cougar Ride that provides rides to and from all on-campus shuttle stops, as well as the MD Anderson Library, Cougar Village/Moody Towers and the UH Technology Bridge. Rides can be requested through the UH Go app. Days and hours of operation can be found at https://uh.edu/af-university-services/parking/cougar-ride/. Helpful Information Coogs Care: https://uh.edu/dsa/coogscare/ Student Health Center: https://www.uh.edu/healthcenter/ Course Outline The course follows the sequence of the textbook (BDH). Additional readings and examples may be added as the course progresses. The outline of course topics is presented in the class schedule, which will be updated regularly. Course Schedule* DATE 23-Aug 25-Aug 30-Aug 1-Sep 6-Sep 8-Sep 13-Sep 15-Sep 20-Sep 22-Sep 27-Sep 29-Sep 4-Oct 6-Oct 11-Oct 13-Oct 18-Oct 20-Oct 25-Oct 27-Oct 1-Nov 3-Nov 8-Nov 10-Nov 15-Nov 17-Nov 22-Nov 24-Nov 29-Nov 1-Dec TOPIC Syllabus & Introduction to the Course Corporate Finance and the Financial Manager Corporate Finance and the Financial Manager Time Value of Money: An Introduction Time Value of Money: An Introduction Time Value of Money: An Introduction Time Value of Money: Valuing Cash Flow Streams Time Value of Money: Valuing Cash Flow Streams Time Value of Money: Valuing Cash Flow Streams Review Session - Exam 1 EXAM 1 Interest Rates Interest Rates Interest Rates Bonds Bonds Stock Valuation Stock Valuation Stock Valuation Review Session - Exam 2 EXAM 2 Investment Decision Rules Investment Decision Rules Investment Decision Rules Risk and Return in Capital Markets Risk and Return in Capital Markets Systematic Risk and the Equity Risk Premium NO CLASS - Thanksgiving Holiday Systematic Risk and the Equity Risk Premium Review Session - Final Exam 13-Dec FINAL EXAM (9 am to 9 pm in 7 slots) * NOTES: [1] September 7: [2] November 16: READINGS Chapter 1 Chapter 1 Chapter 3 Chapter 3 Chapter 3 Chapter 4 Chapter 4 Chapter 4 Chapter 5 Chapter 5 Chapter 5 Chapter 6 Chapter 6 Chapter 7 Chapter 7 Chapter 7 Chapter 8 Chapter 8 Chapter 8 Chapter 11 Chapter 11 Chapter 12 Chapter 12 ASSIGNMENTS MyFinanceLab Assignment 1 is due on Wed., 7-Sep, 11:59 p.m. MyFinanceLab Assignment 2 is due on Wed., 14-Sep, 11:59 p.m. MyFinanceLab Assignment 3 is due on Wed., 21-Sep, 11:59 p.m. MyFinanceLab Assignment 4 is due on Wed., 5-Oct, 11:59 p.m. MyFinanceLab Assignment 5 is due on Wed., 12-Oct, 11:59 p.m. MyFinanceLab Assignment 6 is due on Wed., 19-Oct, 11:59 p.m. MyFinanceLab Assignment 7 is due on Wed., 26-Oct, 11:59 p.m. MyFinanceLab Assignment 8 is due on Wed., 16-Nov, 11:59 p.m. MyFinanceLab Assignment 9 is due on Wed., 23-Nov, 11:59 p.m. MyFinanceLab Assignment 10 is due on Wed., 30-Nov, 11:59 p.m. Last day to drop a course or withdraw without receiving a grade. 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