| Learning objectives |
- Identify, explain, discuss and apply the core concepts, models
and methods
- Calculate, interpret and compare financial statistics, prices,
returns and costs
- Elaborate, present and discuss solutions for financial decision
problems
|
| Course prerequisites |
| Students are not required to have any prior
knowledge within finance, but should have an appropriate background
in mathematics and statistics. This includes statistical concepts
such as covariance, correlation coefficient, expected value and
variance. |
| Examination |
The exam in the subject consists of two parts:
| Midterm -
Corporate Finance: | | Sub exam weight | 30% | | Examination form | Home assignment - written product | | Individual or group exam | Individual exam | | Size of written product | Max. 10 pages | | Assignment type | Written assignment | | Release of assignment | The Assignment is released in Digital Exam (DE)
at exam start | | Duration | 48 hours to prepare | | Grading scale | 7-point grading scale | | Examiner(s) | One internal examiner | | Exam period | Autumn | | Make-up exam/re-exam | Same examination form as the ordinary exam | Description of the exam
procedure
All the learning objectives are relevant for this partial
exam. |
| Final exam -
Corporate Finance: | | Sub exam weight | 70% | | Examination form | Written sit-in exam on CBS'
computers | | Individual or group exam | Individual exam | | Assignment type | Written assignment | | Duration | 2 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
- basic IT application package
| | Make-up exam/re-exam | Same examination form as the ordinary exam The number of registered candidates for the make-up
examination/re-take examination may warrant that it most
appropriately be held as an oral examination. The programme office
will inform the students if the make-up examination/re-take
examination instead is held as an oral examination including a
second examiner or external examiner. | Description of the exam
procedure
The minimum grade is 02 to pass the course. The course grade is
calculated as a weighted average of the two partial exams, i.e.
30%*Midterm+70%*Final, which must give a minimum grade of 02 to
pass. Additionally, neither of the two partial examinations can be
graded lower than ‘00’ to pass the course. A partial examination
cannot be re-taken if the weighted average of the two examinations
is 02 or above. All the learning objectives are relevant for this partial
exam. |
|
| Course content, structure and pedagogical
approach |
|
This is an introductory course in finance focusing on corporate
applications in the international environment. It covers the basic
theories of interest rates, valuation of streams of cash flows, and
pricing of risk, and it draws practical implications for capital
structure, project valuation, financing, and risk management.
More specifically, the course contains a basic introduction to
topics such as:
- The main characteristics of corporations
- The relationship between accounting information and the
information analyzed in corporate finance
- Interest rates and the time value of money
- The valuation of bonds and stocks
- The investment decision
- The financing decision including capital structure theory and
the cost of capital
- Payout policy
- International financial management and capital budgeting
- Financial and real options
- Risk management
|
| Description of the teaching methods |
| The participants are introduced to methodological
and practical concepts in modern corporate finance using various
pedagogical methods, during both lectures and exercise classes. The
course design is aimed at reflecting finance in today’s digital
world, for example by supplementary readings and discussions of
practical applications of the course material and real-life
dilemmas faced by modern corporations. The students will be
presented with concepts and theory of corporate finance during
lectures, supplemented by exercise classes reserved for problem
solving and developing students’ analytical skills. Further
exercises and cases will be home-work assignments during the
course. Overall this should provide participants with experience in
implementing financial concepts and providing concrete financial
recommendations in modern corporations. |
| Feedback during the teaching period |
| Student feedback will occur regularly throughout
the course. A midterm assignment will be handed out during the
course, which will be followed by written and oral feedback that is
designed to help students evaluate their own understanding of the
material and the level of performance that is expected of them.
Feedback will also occur via other aspects of the course, such as
exercise classes, office hours and in-class problem solving.
Students are encouraged to make use of those to enhance their
learning experience, of course in addition to regular participation
and two-way communication in lectures. The lecturer will moreover
strive to be readily available for a one-to-one dialogue in both
lecture breaks and following each lecture session, in order to
provide individual student feedback.“ |
| Student workload |
| Lectures |
42 hours |
| Exercises |
21 hours |
| Examination |
48 hours |
| Preparation |
95 hours |
|
| Expected literature |
|
Brealey, Myers and Marcus, Fundamentals of Corporate
Finance, newest edition available in adequate advance of the
course start (Mc Graw Hill International
Edition).
|
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