Universität Wien FIND

040090 KU Corporate Finance 2 (MA) (2018S)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).

Details

max. 50 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

Thursday 01.03. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Tuesday 06.03. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 08.03. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Tuesday 13.03. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 15.03. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Tuesday 20.03. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 22.03. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Tuesday 10.04. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 12.04. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Tuesday 17.04. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 19.04. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Tuesday 24.04. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 26.04. 11:30 - 13:00 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 03.05. 11:30 - 14:30 Hörsaal 16 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 09.05. 09:45 - 13:00 Seminarraum 4 Oskar-Morgenstern-Platz 1 1.Stock
Monday 14.05. 16:45 - 20:00 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock

Information

Aims, contents and method of the course

Corporate Finance II aims to provide students with a deeper understanding of the theoretical models underlying most of the research on corporate finance and financial intermediation. It will start with a brief overview of contract theory and the economics of asymmetric information and then goes on to study the seminal models and papers in corporate finance applying these principles. The course content will be the following:

I) Economics of asymmetric information: the lemons problem, screening, signalling, moral hazard.
II) Capital structure, Modigliani-Miller irrelevance propositions, signalling and the pecking order theory (Myers and Majluf, 1984).
III) Mergers and acquisitions and the free-riding problem (Grossman and Hart, 1980)
IV) Firm financing, moral hazard and pledgeable income (Holmström and Tirole, 1997)

If time allows, other papers will also be covered (Diamond and Dybvig, Diamond and Rajan, Rajan 1992)

There will be both lectures and tutorials. At tutorials, problem sets will be discussed and the solutions will be presented by the students.

Assessment and permitted materials

There will be a mid-term exam and a final exam. Students will be asked to present their solutions to selected problems at tutorials. This will also be graded.

Minimum requirements and assessment criteria

25% Mid-term exam
25% Problem sets and tutorials
50% Final exam

Minimum requirement for a positive grade: at least 50% for each part.

Examination topics

Exam material: all material discussed in the lecture

Reading list

For the contract theory part, both lecture notes and chapters 13 and 14 from Mas-Colell, Whinston and Green - Microeconomic Theory.
For the rest, lecture notes, papers and Jean Tirole’s book “Corporate Finance Theory”

Association in the course directory

Last modified: Mo 07.09.2020 15:28