Business Unit Strategy and Corporate Finance
The course deals with the interrelation of strategic considerations and corporate finance. For instance, we will also compare the pros and cons of different forms of capital (bank loans, bonds, equity, convertibles etc.) to fund growth. We will also discuss the different financial exit strategies (spin off, auction, leveraged buyout etc.) if a company decides to split-off a segment that is considered non-core by its management. We are mainly using the textbooks "Richard A. Brealey, Stewart C. Myers, and Franklin Allen: Principles of Corporate Finance, 9th edition and M. Grinblatt, and S. Titman: Financial Markets and Corporate Strategy."
Chapter 1: Recap finance basics
Chapter 2: Growth strategies
Chapter 3: Corporate restructuring
Chapter 4: Distribution mechanisms
Chapter 5: Capital structure
Chapter 6: Agency issues and incentive systems
Chapter 7: Real option valuation
Chapter 8: Risk management and hedging
Chapter 9: Financial planning and working capital management
Available to students via Moodle. Required password to download course material will be provided in the first lecture.
Selected books for the course
(90 minutes, 100 % of the final grade) The exam is "open" form.
Final Exam date: 20th of February 2017, 2:00-4:00 pm; H4/5
Exam Review: TBA
Retake Exam date: 10th of April 2017, 2:00-4:00 pm; H4/5
Retake Exam Review: TBA
Mondays: 2:15 - 3:15 pm; H12 and Tuesdays: 12:15 - 1:45 pm; H20
The course is open for
Bachelor of Science (6 credits)
Master of Finance (7 credits, one additional assignment needed for MFin students). Further details regarding the assignment will be given in class and posted on Moodle.