Corporate Finance
ADM 3350 A FALL 2025
Professor
Office
Dr. Shantanu Dutta
DMS 5126
Tel.
562-5800 ext. 4506 (office)
E-mail
shantanu.dutta@telfer.uottawa.ca
E-mail should be used as a means to coordinate appointments only. For
security purposes, a student must only use his or her uOttawa e-mail
address when communicating with the professor. E-mails sent from other
accounts will not be answered.
Office Hours
Wednesdays: 10:00 – 11:00 am (Online or by appointment)
Class
Location
Section A: DMS 1110
Class Hours
Mondays 10:00-11:20 AM (sec. A)
Wednesdays 8:30 AM-9:50 AM (sec. A)
Prerequisite(s) ADM 2350
Program of
study
Choose between the three choices below:
BCom mandatory course
Mandatory course of option ___A&F_____ or specialization
___Accounting & Finance_____
Optional course of option __________ or specialization __________
COURSE EVALUATION: section A: Nov.24 (20 minutes in-class evaluation)
Course Code Course Section – Course Title – Course Outline – Page 1 of 16
Course Deliverable
Quiz #1
Due Date
Weight on Final
Grade
Monday, Sept. 23 (Sec. A)
Quiz #2
Monday, Nov 3 (Sec. A)
Quiz #3
Monday, Nov 24 (Sec. A)
Midterm Exam
80 minutes exam
(In person, 80
minutes)
Monday, October 6th (Sec. A)
Final Exam
Final exam
(In person, 180
minutes)
(non-cumulative, covers post midterm part
only)
Course Code Course Section – Course Title – Course Outline – Page 2 of 16
6%
6%
6%
37%
45%
COURSE DESCRIPTION
The purpose of this intermediate corporate finance course is to follow up on the first introductory
course in financial management. It is intended to refine and deepen students’ knowledge of the
theory and practice of financial decisions in a rapidly changing corporate and business
environment. The course material will evolve around three major problems/decisions faced by
financial managers:
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Short-term Capital Management (e.g., credit management)
Capital Structure Analysis (e.g., optimal debt/equity mix and long-term sources of capital)
Dividend Policy (e.g., management decisions to pay out earnings to the firm shareholders)
Additional important topics covered include leasing decisions, mergers and acquisitions, as well
as an introduction to derivatives use and risk management.
The course delivery is based on lectures (theory presentation, explanation and examples)
followed by integrative practice problems summarizing main points and testing students’
understanding and skills acquisition. Relevant mini-cases, financial news articles, short video
segments are usually used at the beginning of each chapter to provide real-world examples and
context for the importance and relevance of the topics and decisions addressed in each specific
chapter.
COURSE CONTRIBUTION TO PROGRAM LEARNING GOALS
In this section, please explain how your course contributes to the attainment of one or more of the
following B. Com Learning Goals:
LG1
Understand, Apply and Integrate Core Management Disciplines
The course focuses on the connections between finance and accounting and applies and
integrates the core theory principles of sound financial decision making. Students are
introduced to complex financial decisions first through introductory mini-cases and relevant
video segments, then the focus is on explaining the theory supporting sound financial decision
making in each area (e.g., debt/equity mix choice, dividend policy, short term financial
management).
LG2
Demonstrate Critical Thinking and Decision-Making Skills
The course is built on extensive practice problems conducted in class after completing each
chapter and where students have a chance to apply the core theory concepts introduced in the
chapter and test their knowledge about technical and analytical decision-making skills with
respect to important financial decisions at the firm level.
LG3
Demonstrate Leadership, Interpersonal and Communications Skills
Course Code Course Section – Course Title – Course Outline – Page 3 of 16
LG4
Apply high standards of Integrity, Ethics and Social Responsibility
LG5
Unlock the value of globalization.
The course uses various examples and business stories from different regions in the world and
positions the Canadian financial landscape into the global and increasingly interconnected
business environment. Students are exposed to different contexts and institutional settings
where key financial decisions are made by financial managers such as mergers & acquisitions,
leasing, dividend, and capital structure decisions.
LG6
Pursue Self-Development and Exhibit a Commitment for Life-long Learning
LG7
Provide Value to the Business Community in a chosen Area of Specialization
COURSE LEARNING OBJECTIVES
By the end of the course, students will be able to use course concepts and techniques to analyze and
solve different financial decisions. The decisions relate, among other things to capital structure
decisions, dividend policies, short-term financial management, leasing, mergers and acquisitions, and
basic risk management. Students are expected to gain the skills of analyzing more complex questions
in financial management and to be able to come up with sound solutions using the techniques and
concepts covered throughout the course. A constant focus on financial decisions and their
implications on the market valuation of the firm will be maintained.
EXPECTATIONS FOR COMMUNICATIONS
Always use your university account and identify the course number and section, emails from nonuniversity accounts will not be answered. Email should be used as a means to coordinate appointments
only. I read and respond to student e-mails within a timeframe of two business days. E-mails are not
read on weekends. Please note that office hours will be used to answer questions you may have with
regard to examples, and assigned & suggested problems. I shall not respond to emails requiring an
explanation of the solutions to examples, assignment, or suggested end-of-chapter-problems.
METHODS USED TO EVALUATE STUDENT PERFORMANCE
Corporate Finance has a predominant technical component and the best way to learn how to use the
concepts and techniques consists in working and re-working problems. For this reason, several practice
problems have been selected to acquaint you with working with concepts, methods and
problem/decision situations using the tools you learn in class. These practice problems are not part of
the evaluation for this course, but it is strongly recommended to go over them as they will help you
learn the material better by providing good examples for the midterm and final exams. Most of these
Course Code Course Section – Course Title – Course Outline – Page 4 of 16
practice problems are selected problems from the textbook which will be solved and discussed weekly
in class as each chapter is completed.
There will be three in-class quizzes (each worth 6%). The quizzes will be typically 15 to 20 minutes
long. The quizzes may include short problem-solving questions and theory questions, including in the
form of multiple choice questions.
The midterm (worth 37%) and the final exam (worth 45%) will test your understanding and ability to
work and solve technical financial problems (like discussion problems) including in the form of
multiple-choice questions.
A student, who misses any quiz, mid-term or the final exam, must apply to the Student Services Center,
Undergraduate Office, Telfer School of Management. If the absence is not deemed justifiable, the
student will receive a zero. If the absence from a quiz is deemed justified, the weight of the quiz will be
added to the weight of the other quizzes. If the absence from the midterm exam is deemed justified, the
weight of the midterm will be added to the weight of the final exam. Thus, a make-up midterm exam
will NOT be provided. If the absence from the final exam is deemed justified, the student who missed
the exam will write a deferred exam.
Please note that it is not possible to submit extra course work to improve your mark.
TEXTBOOK/COURSE PACKAGE
COURSE MATERIALS
WHERE TO GET IT
Campus bookstores OR Amazon.ca
Corporate Finance, by Ross, Westerfield, Jaffe, & Driss (Tenth Canadian
Edition) McGraw-Hill, 2025
(e-book option available)
Power point slides
(Approximate Cost: $206.00)
Posted and available on Brightspace
Course Code Course Section – Course Title – Course Outline – Page 5 of 16
Course Schedule
Week #
Lecture Topic and objectives
1&2
(Week of Sept. 3 & Sept. 8)
3
(Week of Sept. 15)
4&5
(Week of Sept.22 & Sept.
29)
Reading Assignment
Problems:
selected problems will be
solved in class
Short-term Finance & Credit
Management
Reading: Ch. 27 & Ch.29
Optimal short-term financial policies,
cash management,
Credit analysis, components of credit
management
Capital Budgeting Under Risk:
Review of cost of capital, capital
budgeting under risk, firm and
project risks, investments and project
selection rules under risk
Reading: Ch13 (skip
section(s) 13.7)
The Financing Decision and
Reading: Ch. 16
Capital Structure: Basic Concepts
The choice of available sources of
capital, optimization of capital mix to
maximize firm value, effects of
capital structure on the average cost
of capital
1st Quiz.
Monday, Sept.22 (sec. A)
*** Summary of first part &
Midterm Exam review**
Course Code Course Section – Course Title – Course Outline – Page 6 of 16
6
(Week of Oct. 6)
Midterm Exam (in person 80 minutes long)
Monday, October 6th (sec. A)
Midterm exam will cover the first 5 weeks of material. Exam material includes short-term finance
and credit management, capital budgeting under risk, and capital structure (Ch.16 only)
A list of formulas will be available and posted beforehand. Students remain responsible for
knowing the use of the formulas to answer specific questions in the exam.
Class: October 8: Capital Structure: Limits to the use of Debt (Ch 17)
7
(Week of Oct. 13 - 17)
8
(Week of Oct. 20)
9
(Week of Oct. 27)
10 & 11
(Week of Nov.3 & Nov.10)
STUDY BREAK/READING
WEEK
(No classes)
Capital Structure: Limits to the
use of debt.
Theory of capital structure, effect of
leverage on cost of equity, effect of
taxes on firm value for different
leverage choices, Reasons for
optimal capital structure, bankruptcy
costs, taxes and firm value, empirical
issues
Reading: Ch. 17 (skip
sections 17.8 and 17.9)
Dividend and other payouts:
Theories and types of dividend
policies, effects of dividends on
accounts and stock price, alternatives
to cash dividends and their effects on
firm value, empirical issues
Reading: Ch. 19
Mergers and Acquisitions:
Mergers and acquisitions as an
alternative to internal development,
analysis of costs and benefits, M&A
valuation and NPV methods
Reading: Ch. 30
Course Code Course Section – Course Title – Course Outline – Page 7 of 16
2nd Quiz.
Monday, Nov 3 (sec. A)
12
(Week of Nov. 17)
Leasing:
Reading: Ch. 22 (skip
Types of leasing arrangements, effect sections 22.5 and 22.7)
of leases on financial statements and
leverage, cash flow effects of leasing,
analysis of the leasing decision
13
(Week of Nov. 24)
Introduction to Derivatives:
Reading: Ch. 23 (stop at p.
Options Basic Concepts
641 (stop at Black-Scholes
Basic definitions of options and stock section) + posted notes)
options, call/put options, valuing
options,
Risk management and hedging:
preliminary concepts
3rd Quiz.
Monday, Nov 24 (sec. A)
14
(Week of Dec. 1)
Final exam dates and
location for this course will
be known towards the midend of the term.
(In person Final Exam)
Options and Corporate Finance
(cont.)
***Final Exam Review***
Review and course wrap-up.
Adjustment for possible schedule
slippage
Final exam as scheduled
The final exam is not
cumulative and covers the
following chapters: 16, 17,
19, 30, 22, 23. A formula
sheet will be provided again
for the final exam
beforehand with the same
conditions as for the
midterm.
Course Code Course Section – Course Title – Course Outline – Page 8 of 16
COURSE POLICIES
Expectations for Communications
You can communicate with the professor using the Telfer email address above. Mention your full name and
student number and course section in every communication by email.
Students are asked to monitor their uOttawa.ca e-mail accounts regularly and carefully (not your personal email
accounts such as Yahoo, Gmail, or Hotmail) as this is the conduit through which the professor and TA will
communicate matters that concern the entire class.
Please ensure that you have set up your Brightspace account to receive notification of announcements to your
uOttawa.ca email address.
The professor will only respond to email messages from registered students using their uOttawa.ca email
account.
Course Conduct
The Telfer School of Management prides itself on a strong sense of shared values drawing upon principles of
respect, integrity, professionalism, and inclusion to guide interactions inside and outside the classroom. The
Telfer School strives to provide a well-rounded and outstanding education enriched through experiential
learning and a positive student experience. It is also encouraged that you familiarize yourself with the
University of Ottawa guidelines on Student Rights and Responsible Conduct (Policy 130).
Class Attendance & Decorum
The teaching method in the course includes class lectures, group discussions, guest lectures, and student
presentations. Class attendance is expected and is necessary to successfully complete this course.
Your actions in the in-person and online classroom environments should demonstrate intellectual engagement
in the course content, as well as respect for your classmates and for your instructor. As such, any disruptions
to the learning environment including but not limited to physical classroom, online webinar session, group chat
and course discussion forum will not be tolerated, and failure to comply with this policy can lead to disciplinary
action, up to and including referral to university judiciaries.
It is also important that you do not share any login details or Zoom/MS Teams meeting links with anyone
outside this section of the course. This is a violation of the University of Ottawa’s IT Resources Acceptable Use
policy. If a student is found responsible for violating such policies, they will be sanctioned appropriately.
Absences from Exams
University regulations require all absences from exams/quizzes and all late submissions due to illness to be
supported by a relevant documentation.
Absence for any reason must be justified in writing, to the Student Services Centre
(undergraduate@telfer.uottawa.ca) within three business days following the date of the exam. Please visit the
following webpage to download the deferral request form and carefully read the directives. The Telfer School
reserves the right to accept or refuse the reason.
Students will only be permitted to defer one deliverable per course. Should you miss the midterm for a reason
approved by the SSC, you will not be allowed to defer another course deliverable. This also applies to any
Course Code Course Section – Course Title – Course Outline – Page 9 of 16
deliverable for which a weight transfer is possible. Exceptions could be made, but it will be at the discretion of
the SSC, and each request will be evaluated on its own merit.
Religious absences: If a religious holiday or a religious event will force you to be absent during an evaluation, it
is your responsibility to inform your professor and the Student Services Centre as early as possible.
Intellectual Property
Course material you receive in this course are presented in an educational context for personal use and study
and should not be shared, distributed, or sold in print – or digitally – outside the course without permission.
You do not have permission to copy, redistribute, or reuse the course materials without prior permission of the
professor. All forms (printed, digital, etc.) of course materials prepared by the professor (including e -mailed or
Brightspace content) are protected by copyright. This covers content including but not limited to lecture
material, video recordings, assignments, solutions, cases, exams, discussion posts, and other materials.
Copying, scanning, photographing, posting, or sharing by any means is a violation of copyright and will be
subject to appropriate penalty as prescribed by University of Ottawa regulation. Uploading course materials to a
content sharing website may be treated as an instance of academic fraud as well as copyright infringement.
This could lead to failure of a course, suspension, or even expulsion. Instances of academic fraud are also
often included on a student’s transcript, and this will follow them for life.
Acceptable Use of IT Resources
During this course, you will be utilizing various information technology (IT) resources provided by the university.
In doing so, it is your responsibility to ensure efficient, ethical, and lawful use of IT resources. Please review the
University of Ottawa’s IT Resources Acceptable Use Policy to learn about your obligations as a student, and
how you can help protect and preserve the university’s IT resources by acting responsibly and guarding against
abuses.
Academic Support (keep in outline but remove from BS as services are described)
This webpage refers students to the right services to support them during their studies. Whether you’re an
experienced student or just starting out, you’ll find some great resources to help you succeed.
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Academic Writing Help Centre
Academic Accommodations
Support from your faculty
Mentorship Centers
For more information, please visit: https://uOttawa.saea-tlss.ca/en/academic-gps
Academic Accommodations
We try to make sure all students with disabilities have equal access to learning and research environments, the
physical campus and University-related programs and activities. The Academic Accommodations service
works with other campus services to create an accessible campus learning environment, where students with
disabilities have an equal opportunity to flourish. We offer a wide range of services and resources, provided
with expertise, professionalism, and confidentiality.
Services offered by Academic Accommodations include:
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Help for students with disabilities in making the transition
Permanent and temporary accommodation measures
Course Code Course Section – Course Title – Course Outline – Page 10 of 16
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Learning strategy development
Adaptive exams
Transcriptions of learning material
Interpretation (ASL and LSQ)
Assistive technologies
If you think that you might need any of the above services or supports, email the Academic Accommodations
service (adapt@uOttawa.ca).
Language Choice
Except in programs and courses for which language is a requirement, all students have the right to produce
their written work and to answer examination questions in the official language of their choice, regardless of
the course’s language of instruction.
Health and Wellness
Your health and well-being are key parts of your success as a student. The uOttawa community provides a wide
range of services, supports and activities to support you in your wellness journey.
Visit uOttawa.ca/wellness. to access resources such as:
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Access to 24/7 help
Mental health and counselling information
Medical, health and insurance information
Campus activities and workshops
Peer support 7 days a week (virtual Peer Wellness Chat)
Wellness Lounge
And so much more…
You can also access the Student Health and Wellness Centre, exclusively open to University of Ottawa and
Saint Paul University students. The centre is staffed by a multidisciplinary team of health professionals,
including physicians, nurse practitioners, registered nurses, health promotion specialists (education),
psychotherapists, a psychologist and psychiatrists working together in a shared care model.
You can book your appointment with a health practitioner in person at 801 King Edward, Room N203, by calling
613-562-5498, by using the web portal, or by downloading the UpPatient app. All this information and more is
available at uOttawa.ca/wellness.
Notice Against Sexual Violence
The University of Ottawa will not tolerate any act of sexual violence. This includes acts such as rape and sexual
harassment, as well as misconduct that take place without consent, which includes cyberbullying. The
University, as well as various employee and student groups, offers a variety of services and resources to ensure
that all uOttawa community members have access to confidential support and information, and to procedures
for reporting an incident or filing a complaint. For more information, please visit
https://www.uottawa.ca/about-us/respect/sexual-violence-support-and-prevention.
Course Code Course Section – Course Title – Course Outline – Page 11 of 16
Academic Integrity
Academic Regulation A-4 defines academic fraud as “any act by a student that may result in a distorted
academic evaluation for that student or another student. Academic fraud includes but is not limited to activities
such as:
a) Plagiarism or cheating in any way;
b) Submitting work not partially or fully the student’s own, excluding properly cited quotations and
references. Such work includes assignments, essays, tests, exams, research reports and theses,
regardless of whether the work is written, oral or another form;
c) Presenting research data that are forged, falsified or fabricated;
d) Attributing a statement of fact or reference to a fabricated source;
e) Submitting the same work or a large part of the same piece of work in more than one course, or a thesis
or any other piece of work submitted elsewhere without the prior approval of the appropriate professors
or academic units;
f) Falsifying or misrepresenting an academic evaluation, using a forged or altered supporting document or
facilitating the use of such a document;
g) Taking any action aimed at falsifying an academic evaluation.” (Source: uOttawa Academic Regulation
A-4)
For a quick reference on how to avoid plagiarism, please consult the following resources:
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https://www2.uottawa.ca/about-us/provost/academic-integrity
https://www2.uottawa.ca/current-students/academic-integrity
http://sass.uottawa.ca/sites/sass.uottawa.ca/files/plagiarism.pdf
The Telfer School of Management does not tolerate academic fraud. Anyone found guilty of academic fraud is
liable to severe academic sanctions. For more information, please read Academic regulation A-4 on Academic
fraud.
To underline the importance of academic integrity, all assignments, reports, projects, or other work submitted in
partial fulfillment of the requirements of this course must include a signed Statement of Academic Integrity
(signed by each member of a team in the case of a group assignment or teamwork). The forms are included at
the end of this document.
Course Code Course Section – Course Title – Course Outline – Page 12 of 16
Statement of Academic Integrity
Individual Assignment Checklist & Disclosure
Please read the disclosure below following the completion of your assignment. Once you have verified
these points, hand in this signed disclosure with your assignment.
1. I acknowledge to have read and understood my responsibility for maintaining academic integrity,
as defined by the University of Ottawa’s policies and regulations. Furthermore, I understand that
any violation of academic integrity may result in strict disciplinary action as outlined in the
regulations.
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2. If applicable, I have referenced and/or footnoted all ideas, words, or other intellectual property
from other sources used in completing this assignment.
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3. A proper bibliography is included, which includes acknowledgement of all sources used to complete
this assignment.
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4. This is the first time that I have submitted this assignment or essay (either partially or entirely) for
academic evaluation.
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5. I have not utilized unauthorized assistance or aids including but not limited to outsourcing
assignment solutions, and unethical use of online services such as artificial intelligence tools and
course-sharing websites.
Course Code:
Assignment No. / Title:
Yes (Required by Course / Professor) 
Use of Plagiarism 
Detection Tools
(e.g., Ouriginal): No (Not Applicable for Type of Assignment) 

Date of Submission:
Name:
Yes (Self-Conducted)
No (Not Conducted)
Course Code:
Signature:
Statement of Academic Integrity
Group Assignment Checklist & Disclosure
Please read the disclosure below following the completion of your group assignment. Once all team
members have verified these points, hand in this signed disclosure with your group assignment.
1. All team members acknowledge to have read and understood their responsibilities for maintaining
academic integrity, as defined by the University of Ottawa’s policies and regulations. Furthermore,
all members understand that any violation of academic integrity may result in strict disciplinary
action as outlined in the regulations.
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2. If applicable, all team members have referenced and/or footnoted all ideas, words, or other
intellectual property from other sources used in completing this assignment.
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3. A proper bibliography is included, which includes acknowledgement of all sources used to complete
this assignment.
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4. This is the first time that any member of the group has submitted this assignment or essay (either
partially or entirely) for academic evaluation.
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5. No member of the team has utilized unauthorized assistance or aids including but not limited to
outsourcing assignment solutions, and unethical use of online services such as artificial intelligence
tools and course-sharing websites.
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6. Each member of the group has read the full content of the submission and is assured that the
content is free of violations of academic integrity. Group discussions regarding the importance of
academic integrity have taken place.
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7. All team members have identified their individual contributions to the work submitted such that if
violations of academic integrity are suspected, then the student(s) primarily responsible for the
violations may be identified. Note that the remainder of the team will also be subject to disciplinary
action.
Course Code:
Assignment No. / Title:
Use of Plagiarism
Yes (Required by Course / Professor) 
Detection Tools 
(e.g., Ouriginal): No (Not Applicable for Type of Assignment) 

Date of Submission:
Yes (Self-Conducted)
No (Not Conducted)
Name
Signature
Contributions