YLAA4110 Corporate Finance (6 cr)
Real assets valuation, Capital Structure and Corporate Strategy, Impact of taxes on Financing Choice, Dividend policy & Share Repurchases; Bankruptcy Costs and Debt Holder-Equity Holder Conflicts; Managerial Incentives and Financial Decisions, Mergers & Acquisitions, Corporate Strategy, Risk Management (including use of financial derivatives) and Real Options. The course topics support understanding economic growth, financial services and making productive investments e.g. according to UN sustainable development goal 8.
- calculate cost of capital using relevant benchmarks and risk profiles of firms
- valuate real assets
- examine and discuss investment and financing strategies of firms
- analyze financing choices in the light of taxation and bankruptcy costs
- describe variegated aspects of managerial incentives and motivations, and illustrate how they affect firm value
- describe various dynamics of mergers and acquisitions
- compare and use different financial derivative instruments in order to do corporate risk management.
Note: YLAA4110 and YLAS4110 are overlapping course alternatives.
Description of prerequisites
- Prerequisite group 1
Lecture notes and exercises during surgery sessions
- Grinblatt, M. & Titman, S. 2001. Financial Markets and Corporate Strategy. 2nd edition, McGraw Hill.; ISBN: 9780072294330
- Shapiro, A. 2006. Multinational Financial Management, 8th Edition, J. Wiley & Sons.; ISBN: 9780471737698
- Madura, J. 2000. International Financial Management, 10th edition, South-Western College Publishing (A division of International Thomson Publishing Inc.); ISBN: 9781133947837
Teaching etc. (6 cr)
Lectures and exam