2013/2014 KAN-CM_SU2K Advanced Graduate Corporate Finance
English Title | |
Advanced Graduate Corporate Finance |
Course information |
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Language | English |
Exam ECTS | 7.5 ECTS |
Type | Elective |
Level | Full Degree Master |
Duration | Summer |
Course period | Summer
Please check www.cbs.dk/summer for the course schedule. |
Time Table | Please see course schedule at e-Campus |
Study board |
Study Board for MSc in Economics and Business
Administration
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Course coordinator | |
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Main academic disciplines | |
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Last updated on 22-07-2013 |
Learning objectives | |||||||||||||||||||||
After having completed Graduate
Corporate Finance, students will:
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Course prerequisites | |||||||||||||||||||||
This is an advanced course in corporate finance at the graduate level that builds upon the basic principles and concepts taught in introductory level graduate finance courses. Thus, students enrolling in this course must have successfully completed the introductory graduate level finance course, which itself requires successful completion of courses in accounting, economics and statistics. | |||||||||||||||||||||
Prerequisites for registering for the exam | |||||||||||||||||||||
Requirements about active
class participation (assessed approved/not approved)
Mandatory Mid-term Assignment: Midterm Group Assignment: Given the current state of thinking and empirical research on efficient markets theory, evaluate the usefulness of market timing strategies in terms of management's ability to raise capital at below market rates in order to maximize firm value? In a ten minute presentation in front of your peers, be prepared to discuss, explain, and provide support for your response. |
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Examination | |||||||||||||||||||||
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Course content and structure | |||||||||||||||||||||
The course begins with a brief review
of fundamental corporate finance topics normally covered in an
introductory corporate finance course including the corporate
financial environment, financial institutions, financial markets,
financial statements, time value of money and valuation. The
core of the course is an article-based review of advanced topics in
corporate finance that is comprehensive in scope. Topics reviewed
include financial markets, corporate investment decisions,
corporate capital structure decisions, corporate financing
decisions, risk management, corporate governance, and international
finance.
Tentative Course Schedule: The following is a schedule of topics, readings, assignments, due dates and examination dates. Adjustments to the schedule may be made at my discretion. Note that although the schedule is organized by week, there will be two class sessions per week over the first five weeks and one class session in the sixth week resulting in a total of 11 class meetings. The course's development of personal competences: Interpersonal competences students will develop during this course include: The ability to do mathematical computations The ability to speak comfortably in front of a large group of other students The ability to work and collaborate with other students The ability to analyze and synthesize complex concepts ad material The ability to write effectively The ability to listen effectively |
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Teaching methods | |||||||||||||||||||||
Short Lectures, Lengthy Discussions
and Presentations
Preliminary Assignment: To help students get maximum value from ISUP courses, instructors provide a reading or a small number of readings to be read before the start of classes with a related task or tasks in the first two classes in order to 'jump-start' the learning process. The preliminary assignment which will be discussed during week one (and which require a substantial investment in time before we meet) consists of an analysis of two cases which are primarily intended as a review of core concepts learned in the introductory graduate finance class. The first case (Pleasure Craft Inc.) is designed as a review of capital budgeting and cost of capital concepts. The case should be read and completed individually prior to the first class meeting as it is intended to drive class discussion. It is somewhat lengthy so be sure to allow for adequate preparation time. I recommend that you use the optional course textbook “Corporate Finance: A Focused Approach (any edition) by Brigham and Erhardt but other graduate corporate finance texts will also work well. The first case will be reviewed during the first meeting so it is essential that everyone prepares sufficiently. The second case (California Pizza Kitchen) is intended to provide a review of the Modigliani and Miller capital structure irrelevance propositions and the concepts of debt tax shields. This case must be completed in teams (which will be created during the first class meeting) and will be discussed during the second class meeting. |
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Expected literature | |||||||||||||||||||||
Required Textbook/Readings:
Tentative Course Schedule:
Week of July 1, 2013
The Corporate Investment Decision:
Week of July 8, 2013
The Financing Decision I: Capital Structure
Week of July 15, 2013
The Financing Decision II: The Finance Vehicles
Week of July 22, 2013
International Finance and Corporate Governance:
Week of July 29, 2013
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Last updated on
22-07-2013