Corporate Finance (Joint with Prof. Dr. Christian Andres)
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 determinants that affect the debt/equity choice. In this context, we will discuss practical guidelines to derive the cost of capital for single projects and for the hole firm. 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 payout policy (including the choice between stock repurchase and dividends), selected issues in corporate governance as well as a brief introduction into mergers and acquisitions.