BSAD 180
Managerial Finance

Grossman School of Business
Kevin C.H. Chiang, Ph.D.


Course Objective

The main theme of the course is capital budgeting. Thus, the course is developed based on the notion of the time value of money. Through this development, the course is also a survey of some of the major areas of modern finance: the role of a firm; the role of a manager (agent); the view of a firm being a stream of after-tax cash flows; asset valuation; cash flow estimation; financing methods; costs of capital being a function of systematic risk; and, the estimation of systematic risk in equilibrium.

Office Hours

I have an open-door policy. If you prefer to schedule an appointment or find it inconvenient to come by my office, I invite you to send me an e-mail.

  • Syllabus

  • Electronic Notes


    Discounted Cash Flow Valuation

    Valuation: Bonds and Stocks

    Net Present Value and Other Investment Rules

    Return and Risk

    The CAPM

    Risk, Cost of Capital, and Capital Budgeting

    Financial Statement Analysis and Financial Models

    Making Capital Investment Decisions

    VTBeer Pro Forma

    VTBeer Pro Forma_Before

    Old exam sample

    Another old exam sample