Discuss the Course of Company Finance under the direction of innovative thinking
November 18, 2020 at 10:00 Source: "China Social Sciences", November 18, 2020, Issue 2050, Issue 2050

Since launching the Master of Finance,In order to effectively implement the training ideas of the National Financial Professional Degree Graduate Education Guidance Committee (hereinafter referred to as the "Financial Education Independence Committee"),Guangdong Institute of Finance continues to conduct teaching reforms on "Company Finance" Course,Construction in textbooks、Teaching system and teaching methods have achieved a series of progress。General Secretary Xi Jinping emphasizes "Use‘ Innovation and Wisdom to Leading China Stable and Far “,This requires the cultivation of innovative thinking in the master's degree in finance。After many years of the teaching practice and thinking of the Master of Financial's "Company Finance" course,The author has gradually conceived the teaching system guided by innovative financial thinking cultivation,"Company Finance" course positioning analysis, including the perspective of macro -liaison,、Curriculum frameworks expanded to both ends of theory and practice through core knowledge points and the above two aspects、Teaching methods for constructing innovative financial thinking with cases。

  Bet365 app download The first task of the graduate course at the beginning of teaching is to explain the positioning of the course in the subject,so that students can understand the role of this course from the macro perspective of the subject system,to establish the logical framework of the discipline of financial science。Specific to "Company Finance" course,Differential understanding of countries that can be understood from the financial science framework。Finance independent from economics becomes a sign of a new discipline,It is the statistical study of the French matrician Barrier in 1900。The coincidence is,This is exactly the same as the West's understanding of finance。The Western financial market system represented by the United States is mainly based on direct financing,Therefore, it is believed that the connotation of financial science is investment science and company finance,Including company finance、option pricing theory、Income and risks and effective markets,This cognition focuses on micro finance。In the history of the development of financial disciplines in my country,In the early years, it was the theory of currency、Monetary supervision as the main body,Subsequent reform and opening up promoted the development of international finance,Therefore, domestic considers financial science mainly includes currency banks、International Finance,This understanding focuses on macro finance。Macro finance mainly studies the financial market system,For example, the impact and role of the financial market system on the real economy。Micro Finance Discuss the behavioral characteristics of various participants in the financial market,It mainly includes financial asset pricing and company financial problems。

Visible,In the financial discipline system,"Company Finance" belongs to the category of micro -finance。General,The understanding of the company's financial positioning may be here.。but,"Company Finance" except for the important role in the micro sense,The deeper positioning should be the company's financial decision -making is a natural channel that connects macro finance and micro -finance。The financial market system always serves the real economy,Macro financial policy must always be achieved through micro -finance subjects,The realization of macro financial goals also mainly depends on micro -corporate behavior。According to the requirements of the Financial Education Fingerprint,my country's Master of Financial Professional Degree Project bet365 live casino games mainly train high -level application -oriented financial professionals with solid financial theoretical foundation and high application skills。The company's financial decision is an important channel for achieving the goal of the Master of Finance。Financial graduate education should train leaders in the financial industry,It must be inseparable from the insight into the macro financial development trend and its deep understanding of its impact on the company's financial decision -making。

  2,Curriculum system logic: The theoretical and practical extension of the company's financial nature perspective。As a professional degree,Master of Finance, although there are clear application -oriented features,But the application ability in financial practice needs to be based on a solid theoretical basis。In the case of class constraints,This means that the master's degree in finance needs to seize the core knowledge point of the curriculum,On the basis of this, it extends to the theory and practice on this basis。On the one hand,Establish a knowledge system within the course through the connection between core knowledge points,On the other hand,The depth and breadth of the extension of the extension of the extension through the theory and practice。Everyone is available、Taste of undergraduate education compared to,The distinctive feature of the Master of Finance Education is here。

The macro financial discipline system shows financial connotation、The focus between each course and their close contact,Micro each course also has the clear logic between its own knowledge points。The essence of the company's finance is "management of money",According to the operating characteristics of funds,The logic system of "Company Finance" is,Under the financial goals of the company's maximum value,The research company is "how to spend money" (that is, investment decision,or capital budget)、"How to find money" (ie, financing decision,bet365 Play online games or capital structure) and "how to divide money" (ie, dividend distribution decision) financial decisions。Undergraduate education needs to explain in detail every knowledge point,But the Master of Finance Education must construct a curriculum framework on the basis of core knowledge points。These core knowledge points include enterprises、Demonstrate of the current current value、Capital Structure Theory。These core knowledge points generate contact with capital -based movement,Cover the main content of the company's finance,At the same time, it is also consistent with the key issues in the company's financial practice。

In order to meet the requirements of both theoretical and practical theory and practice in the master's degree in finance,In teaching, you also need to extend the core knowledge points in the theoretical and practical aspects。For example,"What is an enterprise" is a simple question。but,If you extend to the theoretical foundation,Why does the company exist、Modern corporate theories such as the boundary between enterprises and the market and the corporate governance theory brought by it; if it expands to practice,You can explore why the company is converted to the organization form、Enterprise performance of social responsibility、Enterprise control、Corporate reorganization and other series of company financial practice hot issues。Another example,The net current value method based on cash flow is easy to understand。but,If you want to understand more deeply, the current value rules,You need to master the Fei Xue separation theorem under the complete capital market、The theoretical foundation of the theory of no arbitrage and the theory of asset pricing。If you want to better apply the net current value rule,It is necessary to further expand the classic capital budget method based on the advantages and disadvantages of net present value,Introduction of modern capital budget,Enter the physical option Bet365 lotto review method、Study on the content of gambling agreement and corporate value evaluation。Another example,Capital structure, including dividend distribution decision -making, is the core issue of the company's finances,Research process interpretation based on "standing on the shoulders of the giant",Elapse the contract and critical relationship between the theory of capital structure from the two lines from rational hypothesis and irrational hypothesis。In practice,can extend to the financing constraints of the enterprise、Corporate Finance、Internal Capital Market、Changes behind the control of financing decision -making、Business risk and financial risk、Enterprise financing channel、Financial intermediary and other series of problems。

  third,Case Teaching Logic: Innovative financial thinking cultivation close to financial practice。Requirements for the Financial Education Independent Committee,To highlight financial practice orientation in the training process,Master of Finance Course should "focus on the cultivation of analytical ability and creativity to solve practical problems",In the teaching method, "pay attention to the use of team learning、Case analysis、On -site research、Simulation training and other methods "。With the National Financial Professional Degree Case Case Center with the Financial Education Instruction Commission、The establishment and development of the international case library of China Industry and Commerce International Case Library,Case acquisition、Local case development based on financial decision -making of Chinese enterprises、Teachers' understanding of case teaching and organization proficiency have made great progress,More and more financial master's courses have begun to introduce case teaching into master's degree。In case teaching practice,Use "Good Case"、The importance of carefully organizing case teaching process is usually fully emphasized,But often ignores the cultivation of innovative financial thinking in case teaching。Teaching knowledge is to teach students skills,Cultivating logical thinking is connected to the shape of the student。Under the background of innovation and entrepreneurs,New problems in the company's financial practice、New situation is constantly emerging,Only through financial practice cases to build a situation that is highly close to the real financial decision -making of the enterprise、Logic based on the company's finance guides students to think like company managers、Cultivate financial thinking that solves problems to solve problems,It can complete the self -construction of the theoretical foundation and practical ability。

Teaching can be based on core knowledge points、Cultivate students' innovative financial thinking through the company's financial cases。If a company's successful listing in Hong Kong in 2007 caused a great sensation,Its innovative solutions in capital operations are impressive today。Overall,You can go through "why go public、How to go public、Economic Effects of Listing "Organization Case Discussion Discussion of Clear Logic,And how to isolate the horizontal risk transmission between business and how to avoid the impact of various businesses on the equity structure is the highlight of this case。Although the final solution is very simple,But why do students feel after proposing a solution? That's because students often don't know how to think logically to think about problems。If you first think about what kind of state of each business is presented to isolate risks,So the solution will be proposed naturally。The company's financial practice is very complicated,The replication and migration of specific technical solutions is often limited,but,If students can rely on clear logical thinking problems,Then you can propose an innovative solution。So,Cultivating innovative financial thinking bet365 live casino games in case analysis is the work of "granting people with fishing"。

  (This article is the "Outstanding Case Library Construction of the Company Financial" Course of the Corporation of the Corporation of the Corporation of the Graduate Education Innovation Program of the Guangdong Provincial Graduate Education Innovation Program (2016qtlxxm_43)

(Author Unit: School of Finance and Investment, Guangdong Institute of Finance)

Editor in charge: Zhang Yueying
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