2013/2014
KAN-FSM_FS54 Corporate Finance
| English Title |
| Corporate Finance |
|
|
| Language |
English |
| Exam ECTS |
7.5 ECTS |
| Type |
Mandatory |
| Level |
Full Degree Master |
| Duration |
One Semester |
| Course period |
Autumn |
| Time Table |
Please see course schedule at e-Campus |
| Study board |
Study Board for MSc in Economics and Business
Administration
|
| Course
coordinator |
- Claus Parum - Department of Finance (FI)
|
| Claus Parum |
| Main academic
disciplines |
|
|
|
Last updated on
06-08-2013
|
| Learning objectives |
- Combine and apply insight from the syllabus to solve corporate
finance problems through accurate and correct calculations.
- Show and explain all relevant calculations to solve a given
problem.
- State the assumptions behind the theories / methods /models in
the syllabus.
- Independently combine and logically structure the corporate
finance vocabulary /theories / methods / models /
regulatory/institutional/practical knowledge, and empirical
evidence to solve corporate finance problems.
|
| Examination |
|
Corporate
Finance:
|
| Examination form |
Written sit-in exam |
| Individual or group exam |
Individual |
| Assignment type |
Written assignment |
| Duration |
4 hours |
| Grading scale |
7-step scale |
| Examiner(s) |
Internal examiner and external examiner |
| Exam period |
December/January |
| Aids allowed to bring to the exam |
Closed Book: no aids |
| Make-up exam/re-exam |
Same examination form as the ordinary exam
If the number of registered candidates for the make-up
examination/re-take examination warrants that it may most
appropriately be held as an oral examination, the programme office
will inform the students that the make-up examination/re-take
examination will be held as an oral examination
instead.
|
Description of the exam
procedure
The exam has the form of an individual
4-hour written exam. No technical nor written aids are allowed at
the exam, except from Texas Instruments TI-30X IIS (solar), Texas
Instruments TI-30X IIB (battery), TI-30X IIS/IIB, TI-30XS MultiView
and TI-30XB MultiView calculators. The regular exam will be held in
December. The make-up/re-exam takes place in
February.
|
|
| Course content and
structure |
|
The course is organized as follows:
- The course starts with a general introduction to corporate
finance and a discussion of the goal of the corporation.
- First focus is on the capital budgeting decision.
- We start with investment decisions under certainty.
- Hereafter, we focus on the relationship between risk and return
(portfolio risk, beta and CAPM).
- Then we analyze capital budgeting and risk, and practical
problems in capital budgeting.
- Then focus shifts to the financing decision starting with an
overview of the efficient market hypothesis.
- Hereafter, we focus on three central areas within the field of
corporate finance: To understand the importance of a firm’s payout
policy, why firms choose a specific capital structure, and how to
estimate the cost of capital.
- An analysis of options, financial leasing, mergers, corporate
restructuring, corporate governance, and corporate control finishes
the course.
Course status
This is a basic course in corporate finance that complements
strategic decision analysis and forms the basis for the second
semester course in applied corporate finance and
governance.
|
| Teaching methods |
| Lectures with exercises. |
| Expected literature |
|
Pack of Brealey P of CF 11e and Connect+ Codes Card ISBN –
9780077155070
McGraw Hill.
|
Last updated on
06-08-2013
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