International Strategic Finance/Investment Banking

 

International Strategic Finance

Module Code:	XX / XX
Module Title:	International Strategic Finance (IBB) / Investment Banking (FACM)
Type of Module:	Elective
ECTS Credits:	6 ECTS
Language:	English
Duration of Module:	One semester
Recommended for Semester:	4th semester IBB / 6th semester FACM
Frequency:	Every Summer semester
Module Coordinator:	Prof. Dr. Ridwan D. Rusli, SM, MSCEP, Dipl.-Chem.
Lecturers:	Prof. Dr. Ridwan D. Rusli, SM, MSCEP, Dipl.-chem.
Learning Outcome:	This course prepares students for future careers in the areas of strategic and financial planning, corporate finance, investment banking and consulting. The module offers deeper insights and trains advanced undergraduate and graduate students in IB/FACM/BAF/BWL to analyze, evaluate and plan strategic investment, financing, mergers and acquisitions (M&A) and restructuring decisions of multinational corporations and major public sector companies (“corporations”). The course content first discusses, analyzes and evaluates the interdependence between corporate strategy, business models, and financial performance (“strategic finance”) as well as investment, financing, M&A and restructuring decisions (“financial decisions”). Next, senior management interaction with coordinating financial advisors, often known as investment bankers, in planning and implementing strategic investment, financing, M&A and restructuring transactions (“financial transactions”), is discussed.   After taking this course, students will be able to critically analyze, evaluate and plan financial decisions of internationally operating chief financial- and strategy officers and boards of corporations (what). This is accomplished through strategic, business model, M&A, financial statements analysis and projections, cash flow and valuation analysis of corporations and their businesses (how). Thus, students can apply international strategic management, corporate finance and capital markets as well as financial- and management accounting tools to analyze, evaluate and plan a variety of senior management-led financial transactions of corporations (what for).   •   Knowledge and Understanding: Students are able to interpret and describe securities-, project- and company valuation, financial and cashflow forecasting and planning. They are familiar with the strategic-, transactional- as well as selected legal-, accounting- and tax aspects of financial transactions. •   Application and Analysis: Forecast financial statements and cashflows, calculate securities, project- and company values, calculate investment and project returns. •   Analysis: Derive and compare cashflow forecasts and financial ratios, and returns on investments in securities-, projects- and companies. Evaluate debt- and equity financing alternatives and instruments. Analyze and evaluate the impact of financings, M&A and restructuring transactions on company valuation and financial statements. •   Synthesis and Evaluation: Formulate and evaluate financial decisions and plan financial transactions of case study corporations.
Module Content:	This course starts with several review lectures on (i) interdependence between corporate strategy, business models, financial performance and financial decisions, (ii) financial statements analysis and projections, cash flow and valuation analysis of corporations and their businesses, (iii) financial transactions incl. corporate financing, M&A, corporate restructuring, private equity, bank loans and private debt, capital market equity and bond offerings, as well as the (iv) contractual, tax, accounting and structuring aspects of international financial transactions. In this course students shall form case teams of 4-5 students. Each team shall receive information on and be assigned to work on 3 to 4 strategic and corporate finance case studies. Team members will serve in the role of investment bankers, legal counsels, auditors or tax consultants (collectively the “advisory team”) helping the chief strategy or chief financial officers of client corporations plan the commercial, legal, structural and executional aspects of the said financial transactions The instructor shall introduce the case studies, following which the teams will conduct their analysis, prepare answers to the case study questions and prepare presentations to the class and the instructors. The advisory teams shall present to the class and the instructor, the latter acting as senior managers and decision makers of the advisors’ corporate clients. Potential case studies may incl. the financial and corporate restructuring of German energy and/or automobile companies facing energy crises and/or decarbonization challenges; the valuation analysis of Tesla versus Volkswagen, startup versus mature social media and technology companies; the Thai national oil and gas PTT PLC’s restructuring, privatization and initial public equity offering (IPO).
Teaching and Learning Methods:	The course will be taught as seminars in an interactive fashion with the instructors serving as facilitators for student discussions of the various issues raised. Course activities shall include preparatory readings, interactive lectures and class discussions, 3 to 4 team case studies and team presentations.
Assessment Method:	Grading will comprise two parts ·       Class participation and team engagement: 20% of grade ·       Case analysis and write-ups: 60% ·       Final presentation and discussion/Q&A: 20% Students’ active participation in class discussions and contribution to the group case studies will be considered in their case study grades. Class attendance is therefore very important.
Workload (25 - 30 h  ≙ 1 ECTS credit):	4 SWS; 180 hours workload,
Contact hours:	60 contact hours (45 minutes each)
Self-study:	135 hours of independent studies (incl. preparation, review and examinations)
Recommended Prerequisites:	Modules of the previous IBB semesters, especially “Managerial Microeconomics”, “International Economics”, “Introduction to International Business”, “Introduction to International Accounting and Taxation”, “International Management Accounting”, “International Corporate Finance”, “International Capital Markets” or equivalents.
Required Prerequisites:	Modules of the previous IBB semesters, especially “Introduction to International Accounting and Taxation” and “International Corporate Finance” or equivalents. Students should have at least B2 language skills in English.
Recommended Reading:	Books Main textbook 1: Brealey, R. / Myers, S. / Allan F., Principles of Corporate Finance, McGraw Hill, 13th ed., 2020, and 15th ed. by Brealey, R. / Myers, S. / Allan F. / Edmans A., 2025. Main textbook 2: Weygandt, J. / Kimmel, P. / Kieso, D.: Accounting Principles (IFRS Version), Global Edition, 2019. Reference textbook 1: Bowhill, B., Business Planning and Control: Integrating Accounting, Strategy and People, Wiley’s, 2013, 5th edition, chapters 11-12, 21 Reference textbook 2: Levi, M., International Finance, Routledge, 5th ed., 2009. Reference textbook 3: Copeland, T. / Koller, T. / Murrin, J., Valuation, Measuring and Managing the Value of Companies, 1996.    Articles Pearl, J. / Rosenbaum, J., Investment banking: valuation, leveraged buyouts, and mergers & acquisitions, Wiley, 2019.   Prof. Rusli’s Lecture notes and case studies.
Use of the Module in Other Degree Programs:	This course is an elective for International Business BSc (IBB) and Finance and Capital Markets BSc (FACM) students of TH Köln. It is relevant to Bachelor students in not only international business, banking and finance/finance and capital markets, but also business administration, international business law, insurance and finance, etc.
Particularities:
Last update:	December 2025