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Objectives
The aim of this course is to provide an in-depth understanding of the tools and concepts of modern corporate finance. The course builds on the foundations provided by the courses Finance (basisvak Financiering) and Investment and Portfolio Theory 1 (6 EC) and Investment and Portfolio Theory 2 (6 EC).
Contents
Starting from the unifying principles of value maximization and the law of one price, we discuss how successful organisations value and identify profitable investment opportunities, manage their capital structures, and create shareholder value. Some of the topics covered during the course include: capital budgeting and valuation methodology, managing and valuing real options, the choice between debt and equity, managerial incentives and executive compensation, mergers & acquisitions, restructuring, initial public and seasoned equity offerings, and, time permitting, corporate governance. Our discussion of the key concepts of corporate finance will be illustrated with real-world business cases and complemented by guest lectures from the industry.
Registration at
Please go to https://www.sis.uva.nl
Format
Three hours of lectures and two hours of tutorials per week.
Time
Please go to http://rooster.uva.nl
Study materials
- Berk, Jonathan and Peter DeMarzo (2010), Corporate Finance, including access to MyFinancelab, Pearson, ISBN 97817813404686 (€80);
- Cases and articles;
- Additional course material (lecture notes, problem sets, solutions, etc.), also via the Blackboard course site.
Assessment
Weighting:
- The final grade for this course will be based on regular case studies (40%) and a final exam (60%);
- To pass the course you must have a grade of at least 5.0 in the final exam. If your grade in the final exam is 5.0 or better your final grade will be determined by a weighted average of your final exam (60%), and your grade for the other cases (40%);
- You may receive a bonus of half a grade (+0.5) to your case grade if you present a case solution during tutorials.
The final exam consists of open questions that reflect the material in the lecture notes and in the textbook. The resit substitutes the final examination and the weighting is computed as explained.
Examination date
Please go to http://rooster.uva.nl and http://www.student.uva.nl/feb-academicyear
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