Corporate Finance

2018-2019
Dit vak wordt in het Engels aangeboden. Omschrijvingen kunnen daardoor mogelijk alleen in het Engels worden weergegeven.

Doel vak

Corporate Finance studies firms as economic decision makers. The goal of
this course is to develop a framework that provides guidance for
investment and financing decisions. This requires not only a fundamental
understanding of most common corporate finance theories (Bridging Theory
and Practice - Knowledge), but also a selection of sensible applications
for them (Academic and Research Skills).
Our main decision criterion is based on value creation, which we will
learn to quantify in a flexible valuation model. Practical applications
for the knowledge are widespread and not only of interest to managers,
but part of a toolkit required by everyone who is dealing with financial
markets (Bridging Theory and Practice - Application).

At the end of the course you are able to:
- contrast financing incentives provided by equity and debt
financing;
- distinguish between implications derived from various capital
structure theories and put them into perspective;
- extend derived theories to other corporate decisions like payout
policy and risk management;
- construct and critically assess valuation models;
- categorize institutional features of markets for corporate
securities;
- recall stylized empirical facts of corporate security markets;
- explain the most common corporate governance mechanisms.

Inhoud vak

This course offers a coherent overview for students with interests in
financial markets or the intent to pursue a career in finance. Our
teaching approach includes a sound mix between formal/quantitative
analysis and qualitative discussion. From a modeling perspective, we
extend the methods learned in Finance I and II (or economic courses) and
put them into a corporate setting. When talking about value-driving
factors, we see close links to Economics and Management of Organizations
and Marketing. Overall, the content learned in this course enables
students to understand corporate decisions/valuations by focusing on the
key aspects and connecting them to applicable theories.

Onderwijsvorm

Lectures.
Tutorials (60 students).
Tutorials (30 students).

Toetsvorm

Case studies/Assignments (group assessment)
Written Exam (individual assessment)

Literatuur

J. Berk en P. DeMarzo (2017), Corporate Finance, Pearson, 4de Global
Edition.

Overige informatie

Completing this course (or alternatively a corporate finance course in
the other BSc tracks) is a prerequisite for the MSc Finance and a
recommended course for the MSc Business Administration - specialization
Financial Management.

Aanbevolen voorkennis

Finance I and II.

Algemene informatie

Vakcode E_EBE2_CF
Studiepunten 6 EC
Periode P5
Vakniveau 300
Onderwijstaal Engels
Faculteit School of Business and Economics
Vakcoördinator dr. J.A.F. Schnitzler
Examinator dr. J.A.F. Schnitzler
Docenten

Praktische informatie

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