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Instructors: Gastprofessor Florian Kiesel
Event type:
Seminar / exercise
Org-unit: Corporate Management & Economics
Displayed in timetable as:
Adv. Corp. Finance
Hours per week:
3
Credits:
6,0
Location:
Campus der Zeppelin Universität
Language of instruction:
Englisch
Min. | Max. participants:
5 | 28
Priority scheme: Standard-Priorisierung
Course content:
Following the online undergraduate module, this course gives an advanced overview of what finance for corporations is and how financial decisions are made, as well as understanding and tools on:
- How assets are valued and how capital budgeting (or investment) decisions are made : time value of money and NPV rule, preparation of cash flow projections. Moreover, how can be the cash flows estimated in the real world.
- How corporations are financed: characteristics and cost of the financial resources used by corporations (equity, debt)
- Estimating the weighted cost of capital (WACC) in order to create value
- Dividend policy
- The impact of financial structure on firm value and bankruptcy risk
- Company valuation
Educational objective:
At the end of this module, the students should:
- Understand the firms’ financing cycle and the importance of financial markets for corporations.
- Understand the time value of money and be able to use discounting and compounding methods.
- Be able to analyse and make capital investment decisions, using cash flow projections and the main financial criteria (NPV, IRR, profitability index).
- Know the characteristics of the financial resources used by corporations and be able to evaluate their cost.
- Be able to calculate the weighted cost of capital (WACC) of a firm
- Understand the impact of financial structure on firm value and on bankruptcy risk, and the main issues of dividend policy.
Further information about the exams:
Final exam
Admitted Aids:
Calculator
Mandatory literature:
The course will follow the structure of the book: Jonathan Berk and Peter DeMarzo, Corporate Finance, 5th edition, Pearson, Global ed, 2020
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