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Tiếng Việt

PFIN

Learning goals

It is the goal of the course to provide students with a holistic and in-depth overview of topics in modern Corporate Finance. The course structure is based on three consecutive steps. First, students will learn about the core functions of a modern firm, which is obtaining financing to fund projects, and pay out the proceeds of the projects to their owners. The covered topics here are capital budgeting, short- and long-term financing, capital structure theory,  and payout policy. In a second step, students will learn how companies can be restructured to create value, either through Mergers & Acquisitions and Leveraged Buyouts, or in financial distress. In a third and final step, the course looks at corporate valuation from an intrinsic and relative perspective.

Literature

  • Jonathan Berk and Peter DeMarzo, Corporate Finance, Pearson, 2014, 3rd edition
  • Aswath Damodaran, Damodaran on Valuation, Wiley, 2006, 2nd edition
  • Tim Koller, Marc Goedhart and David Wessels, Valuation,  Wiley, 2005, 4th edition
  • Jean Tirole,  The Theory of Corporate Finance Princeton, University Press, 2006

Course contents

  1. The modern firm: Institutional Background
  2. Goals of the modern firm
  3. Short and Long Term Financial Planning
  4. Capital Structure Theory
  5. The modern firm: Use of proceeds
  6. Corporate Restructuring: Mergers and Acquisition
  7. Corporate Restructuring: Leveraged Buyouts
  8. Intrinsic and relative valuation
  9. Advanced valuation issues

Information

Lectures:

Dr. Christian Rauch

Exercises:
Prof. Mr. Nguyen Thanh Liem

Type of Course:

The module consists of a lecture and an exercise.
Students should be able to present an implementation concept of exercises.

Certification of credits:

Written examination (90 Minutes)