The course provides insights into the empirical analysis of firms’ financing and investment decisions. We discuss theoretical foundations of long-term financing, capital structure choice, cost of capital determination, capital market efficiency, and corporate takeover decisions as well as respective empirical findings. Moreover, you will learn how to build financial models, handle financial data, and conduct financial analyses using the statistical software R."

The course covers key concepts of modern corporate finance in theory and practice. In particular, we focus on how investment and financing decisions affect the value of the firm. Among the topics discussed are: • Fundamental analysis and capital market efficiency. • Cost of debt and equity capital. • Business valuation models based on dividends, cash flows, and (abnormal) earnings. • Capital structure and dividend policy. • Advanced valuation issues.

• Benninga: Financial Modeling, latest edition, Cambridge (Mass.) • Hillier / Ross / Westerfield / Jaffe / Jordan: Corporate Finance, European edition, latest edition, Berkshire • Penman: Financial Statement Analysis and Security Valuation, latest edition, Boston (Mass.) • Titman / Martin: Valuation, latest edition, Boston (Mass.) Further readings may be announced during the course.

http://www.uni-oldenburg.de/en/fiwi_bbl/

typically at the end of the semester; potential mid-term examination dates will be announced in the first session

1 term paper (Hausarbeit) or 1 written exam (Klausur) or 1 oral exam (mündliche Prüfung) or 1 Portfolio