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040090 KU Corporate Finance 2 (MA) (2023S)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften

Continuous assessment of course work

Moodle

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).

Registration is open from Mo 13.02.2023 09:00 to We 22.02.2023 12:00
Registration is open from Mo 27.02.2023 09:00 to Tu 28.02.2023 12:00
Deregistration possible until Fr 17.03.2023 23:59

Details

max. 50 participants

Language: English

Lecturers

Anton Van Boxtel

Classes (iCal) - next class is marked with N

DO 04.05.2023 13.15-14.45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
MI 10.05.2023 15.00-16.30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
DO 11.05.2023 13.15-14.45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
MI 17.05.2023 15.00-16.30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
MI 24.05.2023 15.00-16.30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
DO 25.05.2023 13.15-14.45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
MI 31.05.2023 15.00-16.30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
DO 01.06.2023 13.15-14.45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
MI 07.06.2023 15.05-16.30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
MI 14.06.2023 15.00-16.30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
DO 15.06.2023 13.15-14.45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
MI 21.06.2023 15.00-16.30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
DO 22.06.2023 13.15-14.45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
MI 28.06.2023 15.00-16.30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock

Thursday 04.05. 13:15 - 14:45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Wednesday 10.05. 15:00 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 11.05. 13:15 - 14:45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Wednesday 17.05. 15:00 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 24.05. 15:00 - 16:35 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 25.05. 13:15 - 14:45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Wednesday 31.05. 15:00 - 16:30 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
Thursday 01.06. 13:15 - 14:45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Wednesday 07.06. 15:05 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 14.06. 15:00 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 15.06. 13:15 - 14:45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Wednesday 21.06. 15:00 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Thursday 22.06. 13:15 - 14:45 Hörsaal 6 Oskar-Morgenstern-Platz 1 1.Stock
Wednesday 28.06. 13:15 - 16:30 Hörsaal 15 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 study some of the seminal models and papers in corporate finance applying principles of economics of asymmetric information. The course content will be the following:

I) Firm financing under asymmetric information, signalling and the pecking order theory (Myers and Majluf, 1984; Leland and Pyle, 1977).
II) Firm financing, moral hazard and pledgeable income (Holmström and Tirole, 1997)

III) Mergers and acquisitions: the free-riding problem, toeholds and dilution, voting and corporate governance
IV) IPO's: underpricing, winner's curse and SEO's

VI) Applications of the Holmström-Tirole model: debt overhang, liquidity

If time allows, other topics will also be covered.

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

The final grade is based on the grades for the final exam (50%), class participation (10%), and a midterm (40%). This is subject to changes communicated during the lecture.

Minimum requirements and assessment criteria

Passing grade is 50%

Examination topics

The midterm covers all the material covered up until that point. The final covers all of the material covered in class. Points will be deducted from the participation grade for absences or phone or computer use that is not directly related to the class.

Reading list

Various handouts, class notes, and journal articles, as well as Jean Tirole (2005) The Theory of Corporate Finance

Association in the course directory

Last modified: Th 22.06.2023 10:46