|Module label||Advanced Corporate Finance|
|Credit points||6.0 KP|
|Faculty/Institute||Department of Business Administration, Economics and Law (Business studies)|
|Used in course of study||
|Skills to be acquired in this module||
Upon completion of the module, students
• will have a sound understanding of methods used in finance to determine the value of a firm under uncertainty,
• will have a sound understanding of how investment and financing decisions are related, and how they both affect the value of the firm,
• will be able to determine intrinsic firm values based on accounting information, and they will be aware of the respective models’ strengths and weaknesses.
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.
|Languages of instruction||German, English|
|Duration (semesters)||1 Semester|
|Lern-/Lehrform / Type of program||2 VL, or 1 VL and 1 U|
|Vorkenntnisse / Previous knowledge|
|Examination||Time of examination||Type of examination|
|Final exam of module||
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
|Course type||Comment||SWS||Frequency||Workload attendance|
|Exercises||0.00||SuSe or WiSe||0 h|
|Total time of attendance for the module||56 h|