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Entrepreneurial Finance

Spring 2014 EMBA Course

B7345-100: Entrepreneurial Finance

Global Elective Block Week 1 (Jan 13 - 17), Global Elective in NY (Jan 13 - 17) - 09:00AM to 05:00PM

The course uses a two-pronged approach to the study of entrepreneurial finance.  First, we will analyze principles of corporate finance, valuation, and
coordination and control of firms, with an eye toward developing the
tools and concepts of entrepreneurial financial management.  Second,
we will use cases on firms at different stages of their life cycle to
illustrate how these tools and concepts may be applied in practice.  In
following these two approaches, we will examine the case dynamics and
decisions from the viewpoint of both the entrepreneur and that of the
investors to understand their motivations, objectives, and
considerations.  Entrepreneurial Finance and Private Equity investing
are intrinsically linked.  As an entrepreneur, you cannot negotiate effectively without understanding the investor’s modifications.  As an investor, you cannot evaluate a potential opportunity without appreciating the entrepreneur’s perspective

 

In principle,  we can think of a “life cycle” of entrepreneurial financial
decisions comprised of stages of identifying opportunity, marshaling
resources, executing the business decisions, and “harvesting” success.  In
practice, entrepreneurial finance is not a linear process though this
life cycle, and most of the cases we examine will necessarily involve
considering multiple stages of the life cycle.  As
a further dimension, both economists and private equity practitioners
describe the need to think simultaneously about four “success factors”: people, opportunity, context, and the deal.  Our case analyses will follow this general framework.



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