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2010/2011  KAN-CM_F87  Topics of Finance

English Title
Topics of Finance


Sprog Engelsk
Point 7,5 ECTS (225 SAT)
Type Valgfrit
Niveau Kandidat
Varighed Et semester
Placering Efterår
Week 36-40,45-49:Tuesday, 13.30-16.05
Tidspunkt Se skemaet på e-Campus
Maks. antal deltagere 50
Studienævnet for cand. merc.
Claus Parum - cp.fi@cbs.dkSecretary Louise Bruun Christensen - lbc.fi@cbs.dk
  • Finansiering/Finance

Udbydes under åbent universitet-Udbydes under åben uddannelse.
Sidst opdateret den 29 maj 2012
Focus for this course is graduate students with basic knowledge of finance who are interested in an overview of selected issues and results of financial economics. The course will present results with practical impact from the theory of corporate finance and the theory portfolio investments.
At the end of the course, students should :
- Be familiar with fundamental theories and models of portfolio selection, pricing of shares, bonds, derivatives, as well as concepts of and tests of capital market efficiency, performance evaluation
- Be able to apply the theories and models in solving portfolio problems, pricing issues and, capital budgeting, real options and performance evaluation of corporations in practice
- Have presented results from a group project in a seminar session and responded to critic from fellow students.
Participants are required to have completed basic courses in finance (approx. 80-100 class hours or equivalent to the Danish HA-bachelor degree). FIR-students cannot participate in the course.
Mundtlig u. forberedelse
Eksamensperiode Vintertermin
Forudsætninger for indstilling til eksamen
Kursets indhold, forløb og pædagogik

The course will cover the following topics:

The reading material for the course will include a textbook (Brealey, Meyers, and Marcus) in addition to a collection of articles (Dickson) on selected issues from financial economics with relevance for business practice. The articles will give condensed reviews of developments of theoretical models and ways of thinking in practice within the last decades. They will preponderantly focus on results and applications in practice and be of a non-technical nature.

The course will present issues and results from the following areas:

Valuation, Equity and Debt Finance, Managing Value, Nature of Financial Markets, Equity and Debt Markets, Portfolio Investments, Risk Management, and Derivatives.

Examples from practice to be discussed will among others include LBOs (leveraged buy-outs), IPOs (initial public offerings of equity capital), merger and acquisitions, EVA (economic value added) as measure of performance, new types of securities and securitization, active vs. passive portfolio strategies, to hedge or not to hedge risk, futures & options as risk control instruments. Some examples of mismanagement in business practice will also be discussed.

The course has 30 class hours consisting of approximately 15h lectures and 15h seminars.

The course uses the textbooks, Brealey, Myers & Marcus:

Fundamentals of Corporate Finance, lastest edition

Tim Dickson (ed): Mastering Finance. Pitman Publishing, 1998.

Supplemental texts and handouts will be assigned for the lectures.