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Corporate Finance

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Corporate Finance

MSc
  • Option 1 year full time
  • Year of entry 2021
  • Campus Egham

The course

Studying a MSc Corporate Finance will give you the skills required to start a career in corporate finance, in the banking sectors or investment industry. During your studies you will be provided with intensive training in the analysis of issues in corporate finance and policy while improving your analytical skills.

This degree provides you with a critical understanding of corporate finance and entrepreneurship finance, as well as innovation research and the processes and practices of new venture finance. A particular focus will be on understanding the different roles and financial functions in venture capitalist and private equity firms, in entrepreneurship, consultancy and mergers and acquisitions.

Studying in the Department of Economics within the School of Law and Social Sciences at Royal Holloway means that you will learn from internationally renowned experts at one of the UK’s top ten teaching and research economics departments. Our balanced approach to research and teaching guarantees high quality teaching from subject leaders, cutting edge materials and intellectually challenging debates. You will have close contact with the academic staff teaching on the course and you will receive individual support from the course director. You will be taught by a mixture of academics, some of whom have been veteran financial practitioners and have close links with the financial industry in the City of London and will hear from guest speakers. Please read more here (Links to industry page).

During your time here you will study core modules essential to a MSc Corporate Finance degree and with our optional modules such as Investment and Portfolio Management, Fixed Income and Derivatives, and Private Equity you will be able to tailor your degree to your interests.

Our facilities include access to Bloomberg terminals, which are used by investment banks globally. We are also equipped with state-of-the-art software packages such as Stata, Matlab and Python. Matlab is the language of choice for the MSc Corporate Finance.

On graduation, there are excellent career prospects with our students having an impressive employment record and starting salaries amongst the highest in the country.

Our programme has been designed to help you prepare for the competitive Chartered Financial Analyst (CFA) exam.

A two-week pre-sessional and a term long mathematical methods course are offered to bring you up to speed on your quantitative skills.

  • Graduate with excellent career prospects, with economics graduates having an impressive employment record and starting salaries amongst the highest in the country
  • After successfully having completed the degree, you will have already prepared for large sections of the CFA (Chartered Financial Analyst) level 1 exam.

Core Modules

  • In this module you will develop an understanding of basic mathematical methods that are used in the study of Economics and Finance, including basic matrix analysis, topology, statistics, and probability theory. You will look at differentiation and integration of standard functions, and basic manipulations of vectors and matrices. You will also examine various optimisation problems and theorems leading to certain basic results in calculus.
  • In this module you will develop an understanding of the techniques used in financial decision making in the modern corporation. You will look at how corporations appraise investment opportunities, raise finance to fund such projects, and increase shareholder wealth via sound management and planning. You will examine the discounting methods used to value financial assets, the processes firms go through to raise funds from share issue, and the factors that affect the optimal capital structure of the firm.
  • In his module you will develop an understanding of the methods used in the analysis of macro and financial time series data. You will analyse and critically evaluate empirical research in finance and macroeconomics, looking at linear and non-linear time series. You will consider the methodologies for large sample modelling of financial and economic data, and undertake a quantitative research project applying testing procedures on time-series data.

  • This course aims to analyse how corporate governance structures influence the behaviour of the relevant actors inside and outside of organisations. As both internal and external systems of corporate governance are explored, the module builds on the student's knowledge gained during their previous studies.

  • You will attend a set of preparatory classes to equip you with the necessary skills required for research, including a hands-on approach to using statistical packages and reading peer-reviewed articles. You will be expected to use either econometric or statistical techniques, and apply your knowledge and skills from the other quantitative methods and theory modules taken during your studies, to produce your own piece of research around 10,000 words in length.

Optional Modules

There are a number of optional course modules available during your degree studies. The following is a selection of optional course modules that are likely to be available. Please note that although the College will keep changes to a minimum, new modules may be offered or existing modules may be withdrawn, for example, in response to a change in staff. Applicants will be informed if any significant changes need to be made.

  • In this module you will develop an understanding of the technical, analytical and quantitative methods used for analysing financial and equity markets. You will look at the theory of choice under uncertainty, and the modern theories of asset pricing and asset valuation, with consideration for the concepts of arbitrage pricing and the notion of market completeness. You will also learn about market microstructure, gaining practical experience in trading using simulation software.
  • In his module you will develop an understanding of the methods used in the analysis of macro and financial time series data. You will analyse and critically evaluate empirical research in finance and macroeconomics, looking at linear and non-linear time series. You will consider the methodologies for large sample modelling of financial and economic data, and undertake a quantitative research project applying testing procedures on time-series data.
  • In this module you will be introduced to the underlying theory and empirical evidence in portfolio management and its practice in the financial sector. Portfolio theory is blended with practical issues encountered in the investment process, and you will cover topics which include identifying investor objectives and constraints, recognizing risk and return characteristics of investment vehicles, developing strategic asset allocations among equity, managing portfolio risk, increasing portfolio return, and evaluating portfolio and manager performance relative to investment objectives and other appropriate benchmarks. You will develop an understanding of how funds are allocated in portfolio construction, and look at security analysis, optimal portfolio selection and delegated portfolio management.
  • In this module you will develop an understanding of the most important elements of the default-free fixed income securities market, and the derivatives market. You will look at the analytical tools used in portfolio management and risk management. For bond portfolios, these will include yield curve construction, duration, convexity and formal term structure models. For derivatives, you will focus on valuation, trading mechanisms and management of credit risk.
  • In this module you will develop an understanding of corporate finance issues related to company evaluation, and the main users of those evaluations, such private equity firms and venture capitalists (VCs). You will look at the key aspects of corporate valuation, for example leveraging, and how valuations differ according to the maturity of the company, from start up, to making an Initial Public Offering (IPO), to established business engaging in mergers and acquisitions. You will become familiar with leverage buyout and private equity technics, and be able to analyse and critically evaluate the motivation for mergers and acquisitions.

Assessment is carried out by a variety of methods including coursework, examinations and a dissertation.

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