Formations

Master 2 Corporate finance (FI)

Formation initiale Formation enseignée en anglais

contact

Fany DECLERCK
Responsable pédagogique

Paul Sérougne
Responsable administratif-ve

m2.finance@tsm-education.fr

candidature

La campagne de candidatures pour l'année universitaire 2022-2023 est close depuis le 15 avril 2022.

La campagne pour l'année universitaire 2023-2024 débutera en janvier 2023; ne manquez aucune information sur nos formations et inscrivez-vous dès à présent à notre newsletter !

 

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    label contrôlé par l&aposEtatEPAS TSM        france compétences

RNCP Code: 35913

 

The TSM Master in Finance among the top 10 Masters in Finance that are EFMD-Accredited worldwide

The European Foundation for Management Development (EFMD) Accreditation is the most thorough programme accreditation system for business and management programmes with an international perspective. According to EFMD: "The TSM Master in Finance is a robust academic programme with a commendable connection with the world of practice. The programme demonstrates several examples of best practices among which the use of ILOs to develop the provision but also to conduct programme delivery and assessment. The programme also offers a unique academic approach combined with the purpose of applying knowledge and skills to solving real-life problems and practical learning opportunities through internships."

The Master in "Corporate Finance" aims at providing students with the skills required to analyse and manage corporate financial structure.

The main areas of study include managing investments and risk, planning and managing financial strategies, managing interest and exchange rate exposures, and corporate accounting and audit.

On completion of these studies in corporate finance, students will have acquired a breadth of financial expertise including a good grasp of how markets operate, as well as a more specific understanding of banking, accounting, strategy, and IT.

Students pursuing the Corporate Finance track will learn to:

  • apply financial analysis and corporate valuation methods;
  • plan and manage strategic financing;
  • identify and manage operational and financial risks.

 

 

Take a look at our programme video

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UE01 Asset pricing

ECTS : 5.00

HCM : 30.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    By the end of this course, students should be able to:

    • Apply consumption-based asset pricing models to assess risk premia
    • Explain the market efficiency hypothesis and its empirical validity
    • Discuss the use and role of factor models
    • Apply asset pricing models to evaluate investment performance
    • Compute the value of fixed income instruments
    • Choose the right fixed income instrument according to a financial objective
  • Prérequis

    Students are expected to have a minimum preparation in mathematics, statistics and econometrics. An introductory course of Asset Pricing is a plus.
    Students are expected to have a basic knowledge of standard financial instruments (bonds, forward contracts, options).

UE02 Corporate finance

ECTS : 5.00

HCM : 30.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    At the end of this course, students should be able to:

    • Apply standard conceptual frameworks used in finance to major corporate events (like e.g. IPOs, M&A, dividend distribution, corporate governance decisions, early stage fund raising,...)
    • Evaluate the financial implications of these events
    • Identify the ethical issues at stake for corporations
    • Appreciate the role of corporate governance.
    • Provide concise summaries of complex cases in both written and oral form
    • Work effectively in a group
  • Prérequis
    • Foundations on corporate finance theory (Modigliani-Miller, trade-off theory, agency issues, asymmetric information and financial decisions).
    • Basics of corporate valuation and accounting (financial statements, valuation methods: DCFs, multiples, cost of capital).

UE03 Information technology for finance

ECTS : 5.00

HCM : 30.00

Introduction to SAP

HCM : 12.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    By the end of the course, students should be able to:

    • Explain the main concepts of an ERP and discuss its opportunities and challenges
    • Describe the structure of an SAP system
    • Navigate through an SAP system
    • Execute simple SAP transactions.
    • Work effectively in a team

     

  • Prérequis

    •  Basic knowledge in business processes   
    •  Basic knowledge of personal computer

VBA for finance

HCM : 18.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    At the end of the course, students should be able to:

    • Maintain an existing application through bug fixing, code cleanup, and feature developments
    • Develop new applications using event-driven and object oriented programming techniques
    • Enhance code quality through good coding practices
    • Synthesize information and present the results in a written form

     

  • Prérequis
    • General knowledge of personal computer.
    • Excel (intermediate).
    • Programming (beginner).

UE04 Financial econometrics

ECTS : 5.00

HCM : 30.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    On completion of this course, students should be able to:

    • Be familiar with the econometrics techniques used in financial analysis (e.g. event studies, differences- in-differences, time series analysis, panel data analysis)
    • Develop an econometric model to test an economic hypothesis
    • Implement such an econometric model using standard econometric software (e.g. identify the data, create variables, apply econometric techniques)
    • Interpret the outcomes of empirical analyses
    • Present the results of the empirical analysis in a professional manner.
  • Prérequis

    Intermediate knowledge in finance theory and in econometrics.

     

UE05 Corporate valuation

ECTS : 4.00

HCM : 24.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    At the end of the course, students should be able to 

    • Describe valuation methods for non listed companies
    • Conduct the financial analysis of a private company
    • Apply appropriate valuation methods depending on context
    • Assess financial and extra financial value drivers of a business
    • Work effectively in a group
    • Adapt communication for a managerial audience
    • Synthesize information and make focused presentation
  • Prérequis

    A first course on financial analysis and corporate valuation methods.

UE06 Economics for finance

ECTS : 5.00

HCM : 30.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    Upon completion of this course, students will be able to:

    • Describe the drivers of international trade and capital flows 
    • Analyze the functioning of global financial markets (exchange rates, parity relations, international arbitrage)
    • Master the fundamental tools for international risk management
    • Work with economic models that underpin theories of intermediation and corporate finance
    • Understand the interactions between financial markets and financial decisions
    • Undertake a model-based analysis of financial decision-making by companies, investors and intermediaries
    • Apply ethical considerations to global issues 
    • Provide concise summaries of complex cases in written form

     

  • Prérequis

    Previous exposure to basic finance concepts is a plus.

UE07 Financial intermediation

ECTS : 4.00

HCM : 24.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    At the end of the course, students should be able to:

    • Describe the role of banks as liquidity providers
    • Explain the source of fragility of banks 
    • Illustrate how banks reduce risk through asset-liability management
    • Describe how banks implement recent financial stability regulation
    • Describe tools offered by banks for corporate cash management
    • Work effectively in a group
    • Adapt communication for a managerial audience
    • Synthesize information and make focused presentation
  • Prérequis

    None.

     

UE08 Psychology for finance

ECTS : 4.00

HCM : 24.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    At the end of the course, students should be able to: 

    • Identify the sources of financial markets’ inefficiencies
    • Llist the various types of investors’ preferences
    • Describe the various types of investors’ cognitive biases
    • Use cognitive biases to design trading strategies
    • Critically evaluate the impact of psychology on corporate decision-making
    • Work effectively in a group
  • Prérequis

    Basic Mathematics and Statistics.

UE09 Financial reporting

ECTS : 4.00

HCM : 24.00

International Financial Reporting Standards (IFRS)

HCM : 12.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    At the end of the course, students should be able to:

    • Describe principles and characteristics of IFRS/IAS for consolidated financial statements
    • Evaluate differences between IFRS/IAS and GAAPs
    • Apply intricate IFRS/IAS requirements (e.g. IAS 12, IAS 21)
    • Execute consolidation of simple financial statements
  • Prérequis

    A first course in financial accounting and consolidated financial statements. 

Statutory audit

HCM : 12.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    At the end of the course students should be able to:

    • Explain the principles and regulatory framework of audit
    • Describe the legal audit procedure.
    • Assess the importance of ethics and compliance in audit procedures
  • Prérequis

    A first course in financial reporting and consolidated statements.

UE10 Advanced corporate finance

ECTS : 4.00

HCM : 24.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    By the end of this course, students should be able to:

    • Cassify the different sources of corporate risk
    • Calculate some risk measures 
    • Formulate recommendations for corporate risk management
    • Classify the different types of real options
    • Identify real options embedded in a corporate decision
    • Work effectively in a group
    • Provide concise summaries of complex cases in both written and oral form
  • Prérequis

    The course builds on introductory courses in market finance and derivatives. Students are expected to have a basic knowledge of standard derivative instruments (forward contracts, options), of the notion of pricing by arbitrage, and of the Black and Scholes option pricing formula. More precisely, the following introductory Finance courses are recommended:

    - M1 Finance, TSM: Financial Derivatives and Financial Markets

    - M1 in Economics, TSE: Market Finance

     

    The course is not highly technical in the sense that it does not focus on the pricing of derivatives instruments but on their use as risk management instruments. It also applies option pricing formulas to price real options. Students are therefore expected to have a minimum preparation in mathematics, statistics, econometrics, and programming, and to use knowledge from the VBA and Asset Pricing courses.

UE11 Internship / Entrepreneurial project

ECTS : 15.00

Langue d'enseignement : Anglais

  • Objectifs pédagogiques

    At the end of the internship students should be able to:

    • Apply academic concepts in a practical situation in a professional environment
    • Expand content specific and transferable skills
    • Reinforce the professional network
    • Respect and integrate the opinion of others
    • Synthesize information and make focused presentation
    • Apply ethical considerations to management decisions
  • Prérequis

    Students should have attended the M2 classes before starting the internship.

Prerequisites for all candidates:

→ Successful completion of 240 ECTS

→ An English language test for non-English speakers (B2 required). List of the English language certificates accepted here.

→ Examination of candidate’s application and possible interview

Please note that candidates who have completed the TSM M1 in Finance are given priority.

 

Need help? Consult our FAQs or contact assistance-admission@tsm-education.fr

 

This Master is a programme in partnership with Toulouse School of Economics (TSE).

I chose the Master in Corporate Finance, because it offers training in all the areas of expertise required for a successful career in investment banking. Apart from the technical training, the programme challenges students to become real actors in a company and become effective decision takers. Finally, being part of an international student cohort allowed me to build a network of contacts and prepared me to work for a multinational company.

Daniel PONS PUCH

Class 2016/2017 | Financial Analyst - Société Générale

83%* of students have found a job within 3 months after graduation.
17%* of students have found a job abroad.
The average annual net salary two years after graduation was above 40,000€*.

 

Career opportunities:

  • Financial analyst
  • Financial controller
  • Corporate business manager in a banking institution
  • Merger-acquisitions specialist
  • Investments manager
  • Research manager
  • Consultant
  • Asset manager


Preferred sectors: senior financial management and general management committees of groups, banks and financial institutions, private equity and venture capital firms and consultancies, international corporations.

*Source: 2016, 2017, 2018 graduate survey 2 years after completing the M2 CF.

Les autres formations

Master 2 Financial markets and risk evaluation (FI)

Master 2 Finance and information technology (FI)

Master 2 Corporate Finance - double diplôme HEC Liège (FI)

Master 2 Financial Markets and Risk Evaluation - double diplôme HEC Liège (FI)

Master 2 Master of Science in Finance (parcours recherche)

Master 1 Finance (FI)