2021/2022
KAN-CAEFO1077U Corporate Finance
| English Title |
| Corporate Finance |
|
|
| Language |
English |
| Course ECTS |
7.5 ECTS |
| Type |
Mandatory (also offered as elective) |
| 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 |
- Thomas Geelen - Department of Finance (FI)
|
| Main academic
disciplines |
|
|
| Teaching
methods |
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Last updated on
21/12/2021
|
| Learning objectives |
- analyze where to invest a firm’s resources.
- explain the different funding options for a firm and analyze
the best funding option in a given context.
- determine a firm's optimal payout policy.
- analyze how corporate decisions are influenced by agency
problems and explain how agency problems can be countered.
- understand and explain modern capital structure theory.
- apply option pricing models to make financial decisions.
- explain and describe patterns which can be found in
M&A's.
- understand a firm’s risk management strategy and determine its
best risk management strategy
|
| Examination |
|
Corporate
Finance:
|
| Exam
ECTS |
7.5 |
| Examination form |
Written sit-in exam on CBS'
computers |
| Individual or group exam |
Individual exam |
| Assignment type |
Written assignment |
| Duration |
4 hours |
| Grading scale |
7-point grading scale |
| Examiner(s) |
One internal examiner |
| Exam period |
Winter |
| Aids |
Limited aids, see the list below:
The student is allowed to bring - USB key for uploading of notes, books and compendiums in a
non-executable format (no applications, application fragments, IT
tools etc.)
- Any calculator
- In Paper format: Books (including translation dictionaries),
compendiums and notes
The student will have access to - Access to Canvas
- Access to the personal drive (S-drive) on CBS´ network
- Advanced IT application package
|
| Make-up exam/re-exam |
Home assignment - written product |
|
Size of written product: Max. 10
pages |
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Assignment type: Written
assignment |
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Duration: Written product to be
submitted on specified date and time. |
Description of the exam
procedure
About make-up/re-take:
Students will have 4 hours to complete this 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.
|
|
| Course content, structure and pedagogical
approach |
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Aim of the course
The aim of the course is to provide students with the capacity
to understand and apply the theories, models, and techniques that
have been developed in corporate finance.
Contents
This course introduces students to the fundamentals of Corporate
Finance. The first part of the lectures will discuss the building
blocks of the modern firm in detail. This includes the
institutional background of firms and corporate governance as well
as reporting, capital budgeting and cost of capital. After having
investigated the main funding sources for firms such as equity and
debt, students will learn about the theoretical concepts underlying
modern Corporate Finance. Finally, the use of a firm’s proceeds is
discussed in more detail followed by valuation, restructuring and
M&A of firms.
The following topics are treated: corporate governance, corporate
reporting, capital budgeting - project evaluation and cost of
capital, long-term financial planning - equity and debt, capital
structure theory, payout policy, financial modeling, financial and
real options, mergers and acquisitions
|
| Description of the teaching methods |
| Online Lectures, cases and online
exercices. |
| Feedback during the teaching period |
| There will be weekly online quizzes on which the
students will receive feedback both online and in class. |
| Student workload |
| Preparation |
158 hours |
| Classes and Exercises |
44 hours |
| Exam |
4 hours |
|
| Expected literature |
|
Preliminary literature.
Berk, J., P. DeMarzo (2013). Corporate Finance,
4th Edition (Global). Pearson.
ISBN-10: 0-273-79202-4
ISBN-13: 978-0-273-79202-4
Selected journal and newspaper articles
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Last updated on
21/12/2021
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