Institut für Kapitalmärkte und Finanzwirtschaft
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Corporate Finance

Lecture

Lecturer: Prof. Glaser

Language: English

Credits: 6 ECTS (including exercise sessions) in Module U&F

Weekly hours: 2

Tutorials

Lecturer: Philipp Kiergaßner; Désirée-Jessica Pély

Language: English

Weekly hours: 2

Course Overview

This course deals with the theory and practice of how corporations make key corporate financial decisions. Starting with the irrelevance theorems for corporate capital structure and corporate payout policy, students will be introduced to several market frictions such as corporate and personal taxes, costly bankruptcy, and asymmetric information and their implications for capital structure choice or payout policy. Further topics covered are agency problems within corporations, adverse selection in capital markets, mergers and acquisitions, initial public offerings, corporate investment decisions and internal capital allocation of firms, as well as financial constraints. The course will conclude with some aspects of behavioral corporate finance.

The course presupposes basic knowledge of concepts from finance and economics. Students should be familiar with basic optimization techniques, statistics, game theory, asset pricing, and accounting. The main objective of the lecture is to introduce students to theoretical and empirical research in the field of corporate finance. Furthermore, students will be familiarized with practical issues in financial decision making.

The tutorials accompany the lecture. Students are expected to prepare the tutorials and required readings in advance.

 


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