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2025/2026  BA-BINBO1136U  Corporate Finance

English Title
Corporate Finance

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Bachelor
Duration One Quarter
Start time of the course Spring, Third Quarter
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for Global Relations
Course coordinator
  • Ulf Nielsson - Department of Finance (FI)
Main academic disciplines
  • Finance
Teaching methods
  • Blended learning
Last updated on 19-05-2025

Relevant links
Learning objectives
The student is expected to be able to
  • Identify, explain and apply the core concepts, models and methods
  • Calculate, interpret and compare financial statistics, prices, returns and costs
  • Elaborate and present solutions for financial decision problems
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 Spring and Summer
Aids Limited aids, see the list below:
The student is allowed to bring
  • Any calculator
  • In Paper format: Books (including translation dictionaries), compendiums and notes
The student will have access to
  • Canvas
  • Advanced 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.
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, 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 analysed 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
  • Mergers and acquisitions
  • International financial mangement and capital budgeting
  • Financial and real options
  • Risk management

 

Thereby, the course reflects the BSc IB program learning goals in the following way:

Practical Application of Theory
The course includes many exercises and cases illustrating the practical application of theory. In particular, this is achieved both through lectures (illustrating practical applications) and assigned readings from The Economist.

Relation to a Business or an Institutional Setting
Several aspects of different types of financial markets are examined including public versus privately owned companies and various types of providers of capital (investors).

Relation to International Business or Economics
The international perspective is taken in connection with many of the topics covered during the course especially including mergers and acquisitions, financial management and capital budgeting, and risk management. Several examples are looking at multinational firms.

Research Based Teaching
The curriculum includes articles that summarize several research papers and ties such research to the practical use of the theoretic methodologies introduced in the course. Furthermore, evidence from several empirical studies is discussed during the course.
Research-based teaching
CBS’ programmes and teaching are research-based. The following types of research-based knowledge and research-like activities are included in this course:
Research-based knowledge
  • Classic and basic theory
Research-like activities
  • Discussion, critical reflection, modelling
Description of the teaching methods
The participants are introduced to methodological and practical concepts in modern corporate finance using various pedagogical methods. The course design is aimed at reflecting finance in today’s digital world, both in terms of the teaching approach and the teaching material. For example, classical class teaching is supplemented by digital learning tools, such as online quizzes and numerous topical and problem oriented videos. This will further be complemented by readings and discussions of practical applications of the course material and real-life dilemmas faced by modern corporations. 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, e.g. via 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 teacher will also strive to be readily available for a one-to-one dialogue in both lecture breaks and following each lecture session. The teacher will also provide feedback to the entire class following individual student requests, in particular as the examination draws closer. Open forums of smaller groups will be held where the teacher takes student questions and provides feedback of the course material. Lastly and not least, several unannounced quizzes will be held in class, such that both the teacher and the students can continuously assess the individual performance throughout the course.
Student workload
Lecture hours 42 hours
Exercixe Classes 18 hours
Examination 4 hours
Preparation 142 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).

Other readings will be made available on Learn. These readings will at least include the articles from The Economist:

Please note, minor changes might occur. The teacher will upload the final reading list to Learn two weeks before the course starts.
Last updated on 19-05-2025