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Fakultät Wirtschaft und Soziales
Department Wirtschaft
Fakultät Wirtschaft und Soziales

Corporate finance (CF)

The course focuses on the major issues and underlying concepts of modern corporate finance.

Topics will be addressed from the perspective of large corporates with international activities, i.e. multinational enterprises. The core theories of corporate finance that can be used in order to develop and evaluate rules for financial decision-making will be studied in detail. The implications of these concepts for operational management problems and for strategic boardroom decisions will be discussed.

Topics to be studied include inter alia the net present valuation and separation theorem (Hirshleifer, 1985), the equity valuation model (Gordon and Shapiro, 1956), the irrelevance of the debt-to-equity ratio (Modigliani and Miller, 1958), the irrelevance of dividend policy (Modigliani and Miller, 1961), the agency theory models (Jensen and Meckling, 1976), the capital asset pricing model (Sharpe, 1964; Lintner, 1965) and the efficient markets hypothesis (Fama, 1970). Additionally, portfolio allocation theory (Markowitz, 1952) and option pricing model (Black and Scholes, 1973) will be touched upon.

Letzte Änderung: 07.07.14

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