2016/2017
KAN-CFIVO1002U Corporate Finance
| English Title |
| Corporate Finance |
|
|
| Language |
English |
| Course ECTS |
7.5 ECTS |
| Type |
Mandatory |
| Level |
Full Degree Master |
| Duration |
One Semester |
| Start time of the course |
Autumn |
| Timetable |
Course schedule will be posted at
calendar.cbs.dk |
| Study board |
Study Board for MSc in Economics and Business
Administration
|
| Course
coordinator |
- Kristian Miltersen - Department of Finance
(FI)
|
| Main academic
disciplines |
|
|
|
Last updated on
06-07-2016
|
| Learning objectives |
To achieve the grade 12, students
should meet the following learning objectives with no or only minor
mistakes or errors: The aim of the course is to provide students a
thorough understanding of central issues in corporate finance and
of models that are useful for analyzing such issues in a structured
manner. At the end of the course, students should be able to:
- Analyze the profitability of corporate investment opportunities
with the purpose of supporting capital budgeting decisions
- Explain the different funding options for a firm as well as
models of capital structure decisions considering, e.g., tax
effects and potential bankruptcy costs
- Analyze the dividend policy of the firm
- Analyze how corporate decisions are influenced by agency
problems and explain how agency problems can be
countered.
|
| Examination |
|
Corporate
Finance:
|
| Exam
ECTS |
7,5 |
| Examination form |
Written sit-in exam |
| Individual or group exam |
Individual exam |
| Assignment type |
Written assignment |
| Duration |
4 hours |
| Grading scale |
7-step scale |
| Examiner(s) |
Internal examiner and external examiner |
| Exam period |
Autumn |
| Aids allowed to bring to the exam |
Limited aids, see the list below:
- Written sit-in-exam on CBS' computers
- Books and compendia brought by the examinee
- Notes in paper format brought by the examinee
- Dictionaries (only some, see specification below)
- Additional allowed aids, please see the list
below
|
| 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
In addition to the aids listed, the student is allowed to
hand in graphs and mathematical equations written by hand on
paper as a supplement to the answers written on the computer.
Language
dictionaries
|
|
| Course content and
structure |
|
The course focuses on three major decisions of corporations: the
investment decision, or where to invest a firm’s resources; the
financing decision, or how to finance a given investment; and the
dividend decision, or how much cash to return to
shareholders.
The following topics are treated: risk and the cost of capital,
valuation and investment planning, real options, capital structure,
dividend policy, risk management, agency costs and benefits,
mergers and acquisitions.
|
| Teaching methods |
| Lectures, cases and
exercices. |
| Student workload |
| Lectures |
33 hours |
| Preparation for lectures |
66 hours |
| Exercise classes |
14 hours |
| Preparation for exercise classes |
70 hours |
| Exam |
4 hours |
| Final preparation for exam |
19 hours |
|
| Expected literature |
|
Berk, J., P. DeMarzo (2013). Corporate Finance,
3rd Edition (Global). Pearson.
Selected articles.
|
Last updated on
06-07-2016
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