AØKA08012U Corporate Finance and Incentives
BSc in Economics
- Financial markets
- Introduction to the various asset classes
- Bonds
- Stocks
- Derivatives
- Pricing Methods
- Bond mathematics
- Capital Asset Pricing Model (CAPM)
- Arbitrage Pricing Theory (APT)
- Binomial Model
- Black-Scholes Model
- Definitions of Market Efficiency
- Behavioral Finance / Corporate Finance
- Valuing Real Assets
- Optimal Capital Structure
- Optimal Dividend Policy
- Modigliani-Miller Theorems
- Incentives, Information and Corporate Control
Upon completion of the course, students will have developed an understanding of the different asset classes in financial markets as well as an approach on how to price them; including bonds, stocks, forwards, futures and options. Furthermore, the pricing methodology will also be used to illustrate how firms use these methods in order to choose their investment projects. Within the realms of Corporate Finance, we will explore the optimal capital structure of the firm, optimal dividend policy as well as how these and other factors influence how management runs the company.
- Jonathan Berk and Peter DeMarzo: Corporate Finance, Third Edition, Pearson.
http://catalogue.pearsoned.co.uk/catalog/academic/product?ISBN=9780273792024
- Grinblatt, M. and Titman, S.: Financial Markets and Corporate Strategy, second edition, McGraw-Hill. (US version). Only a few sections from this book will be used and PDF’s will be uploaded to Absalon.
- Marriott Corporation: The Cost of Capital, HBR case
- Lando, D. and Poulsen, R.: Lecture notes for the course "Investerings- og Finansieringsteori". Chapter 3, except section 3.4 and 3.5.2 and 3.5.3. Available from Absalon in PDF format
Full
note:http://www.math.ku.dk/noter/filer/fin1/ifnotes.pdf
- Category
- Hours
- Class Instruction
- 28
- Exam
- 3
- Lectures
- 28
- Preparation
- 161
- Total
- 220
- Credit
- 7,5 ECTS
- Type of assessment
- Written examination, 3 hours under invigilationClosed book exam at Peter Bangs Vej 36 with the option to answer in Danish.
- Exam registration requirements
- 80% of weekly hand-ins must be approved in order for the student to be eligible to take the exam.
- Aid
- Without aids
- Marking scale
- 7-point grading scale
- Censorship form
- External censorship
- Exam period
- Will be updated before the start of the semester
- Re-exam
- Same as ordinary
Criteria for exam assesment
The Student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.
Course information
- Language
- English
- Course code
- AØKA08012U
- Credit
- 7,5 ECTS
- Level
- Full Degree MasterBachelor
- Duration
- 1 semester
- Placement
- Autumn
- Schedule
- Autumn (week 36-50)
- Continuing and further education
- Price
320 DKK per ECTS
- Study board
- Department of Economics, Study Council
Contracting department
- Department of Economics
Course responsibles
- Mikkel Godt Gregersen (21-7d797b7b757c3e777f74843e77827577758283757e5075737f7e3e7b853e747b)
Lecturers
Class 1: Martin Rytkjær
Class 2: Morten F. Andresen
Class 3: Morten F. Andresen
Class 4: Martin Rytkjær