Corporate Finance for Minor Finance

Uitgebreide vaknaam	Corporate Finance for Minor Finance
Leerdoelen	Upon completion of the course the student is able to: 1. Combine accounting and other information to derive an overview of the expected cash flows of capital budgeting projects. 2. Describe, explain and compare various valuation techniques, including the WACC method, the APV method and real options. 3. Describe and explain capital structure and dividend policy theories, and analyze the outcomes under different sets of assumptions. 4. Describe and explain theories about relationships between managerial incentives, information asymmetries and financial decisions. 5. Solve capital budgeting and capital structure problems in corporations. 6. Analyse how the various theories can be used to explain phenomena observed in financial markets. 7. Make a well-founded decision about whether or not to apply for a position in the field of finance or to enroll for a master's program in this field.
Omschrijving	In this course, the lessons learned from studying the valuation of financial assets, will be applied to the valuation of real assets, such as factories and machines. Various methods for real asset valuation will be considered, including the Weighted-Average-Cost-of-Capital method, the Adjusted Present Value method and real options approaches. Also ways to derive expected future cash flows (being an important input for real asset valuations) from accounting statements and other information will be discussed. In addition to the valuation of real assets, the financing of firms will be covered in this course. Taking the irrelevance theorem as a starting point, the course will explore the consequences of, for instance, taxes, agency problems and information asymmetries, on the capital structure of firms. A similar set of arguments will be applied to firms' pay-out policies.
Uren per week	4
Onderwijsvorm	-hoorcollege ,  -werkcollege
Toetsvorm	-schriftelijk tentamen (open en mc vragen)
Vaksoort	bachelor
Coördinator	dr. G.T.J. Zwart
Docent(en)	drs. M.E. Helmantel ,dr. G.T.J. Zwart
Verplichte literatuur	Titel Auteur ISBN Prijs Corporate Finance, (5th Edition) Berk, Jonathan, Peter DeMarzo 9781292304151 ca. €  90,00
Entreevoorwaarden	Asset Pricing for Pre-MSc & Minor Finance (EBB133A05) is a strongly recommended prior
Opmerkingen	Secretary Ellie Jelsema, phone +31(0)50 3633685, e-mail e.t.jelsema@rug.nl, room 5411.0836.
Opgenomen in	Opleiding Jaar Periode Type BSc Bedrijfskunde/Bdk  (minor Finance) 3 semester I b verplicht Courses Exchange (BSc)  (Courses Exchange Students (BSc) without limited access) 3 semester I b keuze