Prof. Dr. Konstantin Kostin

Heimathochschule:
Saint-Petersburg State University of Economics (Russia), University of North Florida

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At the NORDAKADEMIE, Prof. Dr. Kostin teaches "Corporate Finance Management". The primary learning objectives of the course are to extend the students’ valuation skills of large public firms (including associated techniques and valuation methods appropriate for small- and medium-sized firms) as well as introducing or enhancing the knowledge of cost of capital: This is a graduate level course which describes and illustrates how financial techniques are used in the practical world of business. The course incorporates vignettes/short case studies as well as a number of examples of real companies making decisions which draw on the models, concepts and ideas of financial management. Relevant numerical examples and calculations will be performed to better understand the material learned. By the end of the course students will learn how to create a successful roadmap to meeting the firm’s objectives. The course will cover fundamental theoretical justifications for using discounted cash flow techniques in analyzing major investment decisions, based on the concepts of the time value of money and the opportunity cost of capital. Traditional and discounted cash flow investment appraisal techniques and the extent of their use will be investigated. The tactics how to tackle investment appraisal in an environment of capital rationing, taxation, inflation and risk will be addressed.

The portfolio theory will be introduced and examined. The capital asset pricing model and multi-factor models will be presented. The functions of stock exchanges for corporations and the importance of an efficiently operated stock exchange will be explained; a variety of methods of raising finance by selling shares will be discussed. Key characteristics of the main categories of debt finance critical for making accurate financing decisions of the firm will be covered, as well as the main forms of short- and medium-term finance available for companies. Different techniques and models to predict future share prices of the companies as well as assess the investment attractiveness and sustainability of companies will be addressed. The key concepts of value based management will be addressed, the metrics developed by practical business people and consultants to measure and guide action towards the creation of value will be discussed. The cost of debt capital will be explained and calculated, both before and after tax considerations will be addressed. The capital structure and the dividend policy considerations for a corporation will be explained. The concept of mergers and integration issues will be discussed.

Dr. Kostin has 17 years of teaching experience. He currently serves as an Associate Professor at the Saint-Petersburg State University of Economics, an adjunct professor at the Nordakademie (Hamburg, Germany), an invited professor at the University of North Florida (Jacksonville, USA) and as a visiting professor at several other Universities in EU. In 2015 Dr. Kostin received the “Best Professor” of the year award for academic excellence. He served as an expert at the Saint Petersburg International Economic Forum in June of 2016 and was commissioned to prepare the executive summary after the Forum. In 2013-2014 as a winner of the Fulbright contest Dr. Kostin served as a Fulbright Scholar at the University of North Florida, USA, where he taught several Bachelor and Master level courses and performed academic research. He currently serves as the member of the Fulbright Expert Selection Committee and is a member of the AIMS Association.

He is the author of 104 academic publications, which include 3 text books and 9 monographs. His articles and research findings are published among others in such reputable international journals such as AIMS International Journal of Management & Journal of Chinese Economics. Dr. Kostin has extensive working experience in the financial and business sectors, including managing large-scale investment projects at the investment fund “Renord”, working as CitiGold Exective with Citibank as well as being the Director of Investments Division for the North-West region of Russia for the Financial Corporation “Uralsib” for a number of years. He is currently active in international investments & is involved in international consulting services.