Universität Wien FIND

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040645 EK KFK CF: Financial Policy (E) (2008W)

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

Voraussetzung ist der positive Abschluss von Principles of Finance. Das wird kontrolliert!
Der gleichzeitige Besuch des VK wird empfohlen.

Registration/Deregistration

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

Details

max. 200 participants
Language: English

Lecturers

Classes (iCal) - next class is marked with N

Thursday 02.10. 18:00 - 20:00 Hörsaal 8
Tuesday 07.10. 18:00 - 20:00 Hörsaal 8
Thursday 09.10. 18:00 - 20:00 Hörsaal 8
Tuesday 14.10. 18:00 - 20:00 Hörsaal 8
Thursday 16.10. 18:00 - 20:00 Hörsaal 8
Tuesday 21.10. 18:00 - 20:00 Hörsaal 8
Thursday 23.10. 18:00 - 20:00 Hörsaal 8
Tuesday 28.10. 18:00 - 20:00 Hörsaal 8
Thursday 30.10. 18:00 - 20:00 Hörsaal 8
Tuesday 04.11. 18:00 - 20:00 Hörsaal 8
Thursday 06.11. 18:00 - 20:00 Hörsaal 8
Tuesday 11.11. 18:00 - 20:00 Hörsaal 8
Thursday 13.11. 18:00 - 20:00 Hörsaal 8
Tuesday 18.11. 16:00 - 18:00 Hörsaal 9
Thursday 20.11. 18:00 - 20:00 Großer Hörsaal 2

Information

Aims, contents and method of the course

Part I.: Dividend Policy
o Irrelevance of dividend policy in perfect capital markets
o Dividends and taxes
o Dividends and transactions costs
o Dividends and asymmetric information
Part II.: Capital Structure
o Irrelevance of capital structure in perfect capital markets
o Capital structure and taxes
o Capital structure and asymmetric information
+ Signalling
+ Conflicts of interest between equityholders and bondholders
+ Conflicts of interest between managers and the corporation
o Capital structure and bankruptcy
o Recent advances in capital structure theory
Part III.: Risk Management
o Risk management and corporate strategy
o The practice of hedging
o Interest rate risk management

Assessment and permitted materials

Minimum requirements and assessment criteria

To provide a conceptual framework, within which dividend policy, capital structure and corporate risk management can be analysed.
o What are the real tradeoffs when choosing a dividend policy and/or a capital structure?
o What are some of the fallacies when evaluating dividend and capital structure policy?
o What are the most important theories?

Examination topics

Reading list

Mark Grinblatt and Sheridan Titman, Financial Markets and Corporate Strategy, McGraw Hill, 1998, 2nd edition.

Brealy and Myers, Principles of Corporate Finance, McGraw Hill, 2002, 7th edition.

Association in the course directory

Last modified: Mo 07.09.2020 15:29