This course covers the foundations of corporate finance and uses these foundations to analyze many of the important financial decisions made within firms and other institutions. Some of the topics covered include the valuation of fixed-income securities and stocks, capital budgeting and the choice of investment projects, the optimal capital structure of the firm and how it is affected by taxes, the notion of market efficiency, the valuation of options and other derivative securities and the use of derivative securities in corporate finance.

This course consists of three major themes. First, the course will address issues on design of modern managerial accounting system. Topics covered include product (customer) costing, activity based cost management and budgeting. Special emphasis will be on cost analysis for financial and service industries. Second, the course will address topics on using managerial accounting information for decision-making including topics such as break-even analysis, using cost data for financial modeling and capital investment decisions. Third, the course will address issues on the design of management control system (MCS), human resources management (HRM) and the design of incentive systems for linking to effective performance management.

This course develops the three basic skills involved in financial analysis: analysis of financial statements, earnings forecasting, and estimating equity value. Treatment of financial statement analysis focuses on inferences about an entity’s value drivers from its financial statements. It includes a variety of pro-forma adjustments, such as off-balance sheet financing and non-recurring items of revenue and expense, so that the analysis becomes more “forward-looking”. Treatment of earnings forecasting builds on financial statement analysis and includes both time-series and structural forecasting techniques. Equity value estimating includes treatment of the discounted free cash flow approach as well as the residual income approach.

The course will examine strategies for gaining and sustaining a competitive advantage. Topics covered include analyzing industries and competitors, Identifying firms' resources, capabilities and core competencies, formulating corporate and business level strategies, managing competitive rivalry, entering international markets and exercising strategic leadership.

Services are becoming critical for competitive advantage in companies across the globe and in all industry sectors. For manufacturers like GE and IBM, services represent their primary growth and profitability strategies into the 21st century. Superior service quality drives the competitive advantage of excellent companies like Charles Schwab, Marriott Hotels, Starbucks, and FedEx— traditional service businesses. The course focuses on challenges of managing services and delivering quality service to customers. The attraction, retention, and building of strong customer relationships through quality service (and services) are at the heart of the course content. The course is equally applicable to organizations whose core product is service (e.g., banks, transportation companies, hotels, hospitals, educational institutions, professional services, telecommunication, etc.) and to organizations that depend on services for competitive advantage (e.g., high technology manufacturers, automotive, industrial products, etc.).

The course covers three sets of topics. The first set of topics address the issues on how to manage costs from a strategic and supply chain perspective. These issues include: the strategic consequences of cost management systems, the use cost management systems for pricing, manage profitability and customer relationships, and the design of cost management systems for inter-organization cost management. Collectively, the discussion of these issues permit a clear illustration of how to achieve cost management across company boundaries and to introduce a forward looking system that emphasizes continuous improvement, links a company’s strategy to its core business activities, and enables a comprehensive management of the resources consumed by all supply chain partners. Next, the course will examine the strategic value of information technology and the emerging E-business models. Advances in Information Technology (IT) are having enormous impacts on the very way business is conducted today! Thus, the key focus is on learning how IT has enabled firms to develop innovations in products and processes and changed the structure of industries, the strategies of firms competing in these industries, and the organizational forms and management processes needed to support those creative changes. Finally, the course will examine the critical issues of strategic transformation - a process by which a firm changes all of its critical parts simultaneously to cope with the challenges it faces. These critical parts include a company’s strategic initiatives, business processes, organization systems, measurement systems and information infrastructure. The major objective thus is to challenge students to think about issues in managing the transformation process such that they can learn how to harness the power of information technology and at the same time making the necessary changes to a company’s value system, organizational design and management control systems.

Business decisions are rarely made in a vacuum. The choices a firm makes affect the profitability of other firms, and their choices can in turns impact the firm. Game Theory offers a systematic way of analyzing strategic decision making in interactive situations. This course develops a conceptual framework that can be applied to understanding business strategy. The sample topics covered by the course are: decision analysis, looking forward and reasoning back, anticipating rivals' moves, equilibrium analysis, inducing cooperation, the use of credible threats and promises, deterrence and preemption, and the role of reputation in negotiation and bargaining. The ultimate goal of this course is to enhance the student's ability to think strategically in complex, interactive situations.

This course is designed to inform students about concepts and topics in Human Resource Management that are critical for creating and leading effective organizations. Topics to be covered include: cultural influences on employee behavior, understanding, recruiting/selecting, training/developing, motivating/ leading employees, and performance evaluation and compensation. The purpose of this course is to provide brief acquaintance with the many issues that are related to managing people in organizations.

In this course you will learn strategies for customer management. A fundamental shift has occurred in marketing from managing and marketing products to understanding and managing customers. This necessitates an understanding of the customer management process and the value of customers to the firm—the firm’s customer equity. In this course, students will gain a solid understanding of customer relationship management, including both strategic and analytic approaches. The course will provide students with tools that are critical in today’s business environment, as leading firms focus their marketing efforts on understanding the value of their customers and developing and growing profitable customer relationships. It teaches skills relating to customer selection and acquisition, customer management, customer retention and customer lifetime value. As firms seek to make their marketing investments financially accountable, it also provides students with an understanding of the link between marketing and finance.

The traditional concept of simply making products and delivering service is obsolete. Has your company developed a sourcing and supply chain management strategy that allows you to deliver and communicate value to your customers? Has your company been able to integrate procurement, operations, and logistics from raw materials to customer satisfaction? This course explores the key issues associated with the design and management of Service Supply Chain. It is designed to create opportunities for revolutionizing your operation through efficiencies in the design and management of your supply chain. Some of the topics covered include the appropriate performance metrics for measuring, monitoring, and controlling the Service Supply Chain; inventory management, and quality control across the Service Supply Chain.

This course introduces the analysis of monetary policy and its effects on the macro economy. The 2008 financial crisis has made it clear that financial imperfections play a prominent role in affecting the financial system and macro economy. The goals of this course are to gain a grasp of the economic analysis related to financial structure, and apply the analysis to study the conduct of monetary policy and its macroeconomic consequences under financial imperfections.

Firms that could achieve cost and quality advantages in well defined, existing markets dominated previous two decades. Today the advent of information technologies and the Internet has changed the very nature of the marketplace. Firms that build and capture fundamentally new markets with radical products and services define the competitive arena. This course is designed to make decision makers intimately familiar with the front end of the new product design process and provides them with concrete tools for determining strategies for developing new products based on combining input from customers engineers, R&D and all the relevant constituents of a firm. To the extent that the Internet has revolutionized the manner in which firms can interact with their customers, this course also covers Internet based tools for collecting, processing and disseminating customer date. This customer centric approach involves a combination of qualitative and quantitative approaches to data collection and analysis and is appropriate for both radical and disruptive technologies as well as for the “new and improved” class of products that represent over 90% of all new product introductions. In summary, this course provides an in-depth understanding of the entire new product development process from idea generation to commercialization.

This course is tailored for the serious student who wants an in-depth perspective of the theory and applications of financing and investing in the underlying real estate with an emphasis on commercial real estate. The course will also introduce students to real estate securitization from both a debt and equity perspective including but not limited to mortgage backed securities and real estate investment trusts. Students will gain an understanding of the theory underlying the securitization, structuring, and pricing of real estate securities.

This course is designed to acquaint the student with the concepts of portfolio analysis in the general area of institutional investment management. The course discusses principles for managing investment assets that include equity and fixed-income securities. These principles apply, for example, to managing corporate pension funds, bank-administered trusts, and other institutional funds. Students will learn how to establish appropriate investment objectives, develop optimal portfolio strategies, estimate risk-return tradeoffs, and evaluate investment performance.

Knowledge has surpassed machines and the stored value of money itself, as the driving force behind the world economy. In the recent past, companies learned they could create better products more efficiently with the full mental participation of their employees. Today, investors are learning that participation by shareowners also adds value. Venture capitalists who are willing to invest ideas, as well as money, are outperforming the market. A major objective of the course is to provide students the insights on the various governance mechanisms that can be used to enhance investor’s wealth through broad based systems of accountability to be built into the governance structures of corporations themselves. By establishing systems of accountability and encourage long-term participation by shareowners and employees in corporate decision-making, the corporations that embrace such a dialogue should be better equipped to create wealth, compete in global markets, and solve the highly complex problems of the 3rd millennium Also will be covered in the course are topics relate to Merger and Acquisition. Specially, these topics are designed to provide perspectives to negotiation and learn the valuation process and to integrate your valuation with your business strategy and integration plan to move toward a desired "end game." Students will also examine the long-term potential of the relationship between the two companies and what factors could make this marriage succeed or fail.

The course is to introduce the core concepts and practical strategies of the creation, protection, and management of Intellectual Property (IP). The specific topics that would be discussed include (but are not limited to) Patent, Trademark, Copyright, and Trade Secret, focusing on not only the conventional concept but also the latest development both at home and abroad.

Intellectual Property eventually played an important role in a wide range of industries and sectors and has become a key agenda within international organizations when dealing with international trade. This course aims to discuss and observe how those countries (or regions) such as the United States, China, Japan, EU, and Korea manages Intellectual Property with their own successful policies and strategies.

In addition to the theoretical discussion, the successful cases of technology transfer and licensing among industries, universities, and public sectors in the United States, Japan and Europe (University of Washington, Stanford University, NIH, Tokyo University and Steinbeis Foundation, just to name a few) will be also introduced during the course. Furthermore, issues like Cross-strait Intellectual Property protection and cooperation and the latest IP litigations will be selectively collected into this course.

Putting theory into practice, the W. P. Carey EMBA program in Shanghai offers students an unprecedented opportunity to participate in a U. S. Benchmarking Tour. Participating students will take advantage of the National Holiday in October for a 10-day trip to experience student life at Arizona State University in Tempe, explore U.S. national parks and visit world-class companies from both the finance and service industries in metropolitan Phoenix and New York City.

Students have the opportunity to gain first-hand knowledge about how American companies operate, and they see practical examples of how industry leaders are driving world-class results. By witnessing business in action and spending time with managers at the host companies, students develop an understanding of the next steps they must take to implement changes in their organizations.