AØKK08116U Seminar: Applied Corporate Finance (F)

Volume 2015/2016
Education

M.Sc of Economics
The course is a part of the financial line, signified by (F)

The seminar is primarily for students at the MSc of Economics

Content

 Ideas for topics:

  1. Valuation of a company[1]

  2. Optimal capital structure

  3. Practical implications / examples of financial distress behavior

  4. Asset specificity and capital structure

  5. Intra-Industrial comparison of companies

  6. Qualitative research (e.g. interview) of a (big) company

  7. Strategic / game theoretical corporate finance

  8. Practical implications of a theoretical challenge

In Spring 2016 also:

  1. Empirical testing of e.g. rating and capital structure or liquidity and R&D

  2. Optimal investment strategies as computer programs / simulations

  3. Research note to employer regarding financial topic

  4. Feel free to email for discussion of topics or to get examples of old papers

[1] If you choose to do a valuation of a company it should be with focus on the finance part of it rather than the accounting part. Surely the income statement (P&L) must be adjusted accordingly but the paper should focus more on the cost of capital, WACC, capital structure, etc. It is highly recommended although not obligatory, to do an optimal capital structure calculation/discussion and/or a multiples analysis, when doing a valuation.

Learning Outcome

The idea of the seminar is for students to think about a corporate finance scenario in practice and relate it to theory. It is up to the students to define the “applied” part of the paper but it should be clear from both paper and presentation.

Will be decided by the teacher in collaboration with the students.

 

1. Understand basics of corporate finance theory. This includes CAPM, Fixed Income basics, derivatives, real options and capital structure theory.
2. Understanding basic financial statement analysis.

Student who has not yet had master level courses in finance should read the curriculum of the master level course Corporate Finance Theory.
Planning meeting in the beginning of the semester, writing seminar paper during the semester and presentation at the end of the semester. The teacher gives more information at Absalon close to the start of the semester.

Schedule Autumn 2015:
Week 38: Intro meeting (Monday 14th September at 18:15 – 20:15)
Week 40: Submission of commitment paper(Monday 28th September before 23:59)
Week 44: Process meeting (voluntary) (Monday 26th October at 18:15 – 20:15)

Schedule Spring 2016:
Week 06: Intro meeting (Monday 8th February at 5:15 PM)
Week 10: Submission of commitment paper (Tuesday 1th March) Changed to 15th February
  • Category
  • Hours
  • Project work
  • 186
  • Seminar
  • 20
  • Total
  • 206
Credit
7,5 ECTS
Type of assessment
Written assignment
A written seminar paper.

Included in the seminar is an oral presentation for the others participans at the seminar of 20 minuts
Exam registration requirements

Attendance on the seminar. The mandatory commitment paper and seminar paper have been handed in at deadline.

Aid

Al aids for the written seminarpaper.

For the oral presentation the slices for the presentation. The teather can specifiy what els is allowed.

Marking scale
7-point grading scale
Censorship form
External censorship
up to 20 % censorship at the seminarpaper
Exam period

Autumn 2015:

Submission of presentation paper: Monday 16th November before 23:59

Presentations of papers and feedback . Presentation will be placed and decided in collaboration with student on intro meeting to minimize conflicts with other courses and work.

Submission of final paper: Approximately 31st December but somewhat flexible

Spring 2016:

Deadline presentation paper: Mon 17 April 29th March

Presentations in week 18 15.

Deadline final paper: Mon 13 June  May 26 at 10 AM

For enrolled students more information about examination, exam/re-sit, rules etc. is available at the student intranet for Examination (English) and student intranet for Examination (KA-Danish).

Re-exam

Submission of a written assignmetn and an oral exam in which you may be examined in the presentations of the other students participating in the seminar during the enrolment period in question.

Criteria for exam assesment

The student must in a satisfactory way demonstrate that he/she has mastered the learning outcome of the course.