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PTMBA2025_Core A - Corporate Finance

Kurs ID
MBA FIN531
Art des Kurses
PT MBA LV
Wochenstunden
2,5
Semester
FS 2024
Vortragssprache
Englisch
Vortragende/r
Prof. Dr. Christian Andres
Bitte beachten Sie, dass AustauschstudentInnen im BSc-Programm der WHU eine höhere Anzahl an Credits erwerben als hier aufgeführt. Für weitere Informationen wenden Sie sich bitte direkt an das [International Relations Office].
This course covers the basic principles of corporate finance and develops the necessary practical tools for financial decisions and corporate valuation.

After a brief introduction, which motivates the goals of a firm against the background of different corporate governance regimes, we will take a closer look at the relationship between stock prices and the cost of equity. In this context, we will discuss practical guidelines to derive the cost of capital for single projects and for the whole firm. We will then cover the determinants of the optimal debt/equity mix and the consequences for a firm’s cost of capital and valuation.

In addition, the course will provide an overview of a firm’s external financing alternatives (debt and equity), with a focus on the security issuance process (IPOs). Additional topics include select issues in corporate governance, such as the board of directors and executive compensation, as well as a brief introduction into mergers and acquisitions (M&A).

  • Develop an understanding of different financing sources and their implications
  • Become familiar with the concepts of costs of equity, debt, and weighted average costs of capital (WACC)
  • Become sensitive to the role of agency problems and information asymmetries in a corporate environment and their impact on financing conditions
Date Time
Sunday, 18.02.2024 09:00 - 18:15
Sunday, 03.03.2024 09:00 - 18:15
Sunday, 17.03.2024 09:00 - 18:15
Saturday, 06.04.2024 09:00 - 13:00
Understand different financing sources and their implications, be able to calculate cost of equity, cost of debt & weighted average costs of capital (WACC), NPV calculations, understanding the role of agency conflicts and their implications for financing, identify challenges and sources of value creation in M&A
Brealey, Richard A., Stewart C. Myers and Allen, Franklin (2019): "Principles of Corporate Finance", Irwin McGraw‐Hill, 13th edition
Class Teaching, Cases, Group Discussion
20% individual case write-ups, 30% Group case assignment, 50% Final Exam
Managerial Finance
60
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