The Executive Master in Finance (EMiF) has a primary focus on corporate finance, and a secondary one on asset management. The rest of the program consists of country-risk evaluation, M&A accounting, and negotiation skills. EMiF has a hands-on approach that enables participants to immediately apply the tools that they have learned in the lectures to the challenges that they face in their work. This top-level anglophone program for executives has a highly international participant population.
Taking place over nine months at the HEC Paris campus in Jouy-en-Josas and in central Paris, the Executive MSc in Finance is comprised of one optional online module and five eight-day in-class modules (320 hours of teaching). This executive master’s degree is delivered and assessed exclusively in English.
Optional Refresher Webinars (Online)
- Financial Accounting Principles
- Time Value of Money
Module 1 provides a thorough overview of the fundamentals of finance that will serve as stepping-stones for the rest of the program:
- Capital Budgeting
- Financial Statement Analysis
- Risk & Return and Fundamental Theories of Finance: the Modern Portfolio Theory and the Capital Asset Pricing Model
- Financial Policy
- Capital Structure and the Cost of Capital
The first half of Module 2 includes a three-day seminar that will help executives to refine their negotiation skills. These three days are followed by a one day lecture on Merger and Acquisitions accounting. The second half of Module 2 is dedicated to Valuation of firms:
- Negotiation Seminar
- M&A Accounting
- Valuation Tools
- Additional Topics in Valuation
Module 3 is dedicated to Financial Markets, Asset Management, and novel tools in finance. The module starts with lectures on FinTech, and Blockchains & Cryptocurrencies. These two days are followed by a two-day lecture on short-term fixed-income instruments, their markets, and derivatives. The second part of Module 3 is composed of lectures on asset management and stock markets.
- Introduction to FinTech
- Blockchains and Cryptocurrencies
- Short-term Fixed Income Instruments and their uses and markets
- Asset Management
- Stock Markets
The first part of Module 4 focuses on macroeconomic analysis and how to evaluate country risk. These three days are followed by a lecture on Entrepreneurship Finance. The second part of Module 4 focuses on International Finance as well as how to manage risk in the fixed-income markets.
- Macroeconomic Analysis & Country Risk
- Entrepreneurship Finance
- International Finance
- Fixed Income Instruments, Markets, and Risk-Management
The last Module is dedicated to advanced topics in Corporate Finance and Financial Markets. We start out by learning how corporations manage their input and output price risks. Then a one-day lecture covers the challenges of governance for a modern corporation. Another one-day lecture discusses why we need the regulation of financial intermediaries focusing on banks, and what might be the perverse effects of such regulation. We finish the first part of Module 5 on the market microstructure of financial markets: i.e., on the trading and associated liquidity, focusing on the stock markets. The second part of Module 5 is dedicated to the various financial transactions conducted by corporations for the purposes of financing or restructuring the firm: initial public offerings, seasoned equity offerings, mergers and acquisitions, divestitures, resorting to private equity financing, the role of venture capital.
- Hedging for corporates
- Corporate Governance
- Banking and its Regulation
- Trading and Liquidity in Financial Markets
- Corporate Financial Transactions
The Professional Thesis gives the EMiF participants the opportunity to apply what they have learned during the program and their extensions on a specific individual research project. It enables them to build on their own experience, capitalize on the input and guidance of faculty and experts from the world of finance. Participants will be allocated a tutor from HEC Paris or an expert in the particular field they choose to study. They will have to conduct a review of the existing literature, hypothesis development, data collection and analysis, and draw conclusions based on their findings.
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