• Wednesday, October 12

Session Venue
Opening Introduction to the Stern Finance Master Class Mugunghwa Hall1
Presentation An Introduction to Credit Ratings Mugunghwa Hall1
BREAK Mugunghwa Hall1
Presentation Key Elements of Modern Corporate Finance 1 Mugunghwa Hall1
LUNCH Mugunghwa Hall1
Presentation Key Elements of Modern Corporate Finance 2 Mugunghwa Hall1
BREAK Mugunghwa Hall1
Presentation Closing Remarks for the Stern Finance Master Class Mugunghwa Hall1
  • Introduction to the Stern Finance Master Class

  • Time/Place 10.12 09:00 ~ 09:15,  Mugunghwa Hall1
    Synopsis
    Speaker Ingo Walter(NYU Stern School of Business, Vice Dean of Faculty)
  • An Introduction to Credit Ratings

  • Time/Place 10.12 09:15 ~ 10:15,  Mugunghwa Hall1
    Synopsis Let us listen to the reason of US credit rating downgrade from S&P Senior Advisor. After the downgrade, the interest on procedure of decision making process on credit rating is escalating. Thomas Cooley, former dean of NYU Stern School of Business, begins his special lecture in the NYU Stern School's Master Class in Modern Finance talking about the secrets of 'Credit Rating' system. His speech will be mainly about through what system one nation's credit rating is graded, and how controversial it is to grade credit rating. And hopefully we can listen to how it will change its grade rating system in the future. The key feature of this lecture will be the story on why S&P downgraded the US's credit rating at the very last note.
    Speaker Thomas Cooley(NYU Stern School of Business, Professor)
  • Key Elements of Modern Corporate Finance 1

  • Time/Place 10.12 10:30 ~ 12:50,  Mugunghwa Hall1
    Synopsis We will be studying two topics: 1) Rules for making investment decisions and 2) Real Options. The first topic primarily focuses on the IRR (Internal Rate of Return) rule, which is widely used in practice. This rule has a number of serious problems, which are often not known by practitioners, or at least not well understood. The purpose of this lecture is to point out these shortcomings and to contrast the IRR rule with the NPV (Net Present Value) rule, which is the investment rule generally favored by academics. The second topic discusses how to make investment decisions when projects have embedded real options, such as the option to wait with undertaking the investment and the option to undertake follow-up investments after the initial investment is made. Incorporating these real options into investment decisions is important and can explain why, e.g., it may be optimal to undertake an initial investment which, when viewed as a stand-alone investment, may have a negative NPV.
    Speaker Holger Mueller(NYU Stern School of Business, Professor)
  • Key Elements of Modern Corporate Finance 2

  • Time/Place 10.12 13:50 ~ 17:50,  Mugunghwa Hall1
    Synopsis
    Speaker Holger Mueller(NYU Stern School of Business, Professor)
  • Closing Remarks for the Stern Finance Master Class

  • Time/Place 10.12 18:00 ~ 18:30,  Mugunghwa Hall1
    Synopsis
    Speaker Ingo Walter(NYU Stern School of Business, Vice Dean of Faculty)