Business Unit Strategy and Corporate Finance

Instructors

Prof. Dr. Andre Guettler

Marc Altdörfer

General Description

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."

 

Contents

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

 

Course Material

Available to students via Moodle. Required password to download course material will be provided in the first lecture.

Book list
Selected books for the course

 

Exams

(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

 

Course Schedule 

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.