Course Syllabus
Corporate Finance: European Case Studies |
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| Semester & Location: |
Fall 2024 - DIS Copenhagen |
| Type & Credits: |
Elective Course - 3 credits |
| Major Disciplines: |
Business, Finance, Management |
| Prerequisites: |
One course each in macro- and microeconomics, and one course in finance, all at university level. |
| Faculty Member: |
Kristian Bernt Knudsen- Contact via Canvas Inbox |
| Time & Place: |
Mondays 11:40-14:35 Classroom: F24-303 |
Description:
Through the study of central theory and principles of corporate finance mixed with relevant problem solving and case studies, this course addresses how companies evaluate their financial status, make choices about debt and equity, and utilize the financial markets.
Topics include time value of money, understanding the profit & loss statement and balance sheet, capital structure, debt financing, equity financing, valuation methods, mergers/acquisitions, leveraged buy-outs, stock market ratios, corporate governance, and risk management.
Students will apply corporate finance theory and corporate finance practices. Active class participation is essential as the class is a mixture of theoretical learning and hands-on problem-solving. The class will mainly be student driven through group work, coordination, and presentation.
The course is taught using a combination of methods. While I am responsible for the overall structure of the class, you will each play an important role as part of your team and not only be responsible for your own learning but also be responsible for a successful team effort and producing a professional research report in your team.
Objective:
To analyze and understand major corporate finance issues via a mixture of central theory, problem-solving and corporate case studies.
Business managers today are expected to work within a firm operating around the globe. A cross-border perspective is essential. All areas of major businesses have foreign participation, whether it involves operations, employees, regulators, customers, banks or investors.
The course strives to present major corporate finance issues which companies must deal with. Students will learn how to analyze and interpret company financial information and stock market ratios, appreciate the alternatives for financing a business and become aware of the motivations behind the corporate executives and major players in the financial market.
By reading about actual events and problems that companies must deal with on an ongoing basis, students will become familiar with not only the theoretical basis of corporate finance but with the practical problems and multiple consequences of financial decisions.
In addition, the course aims to teach students a methodology for analyzing conflicting points of view, formulating decisions despite imperfect information, working together in groups and presenting their results.
Faculty Member:
Kristian Bernt Knudsen, CFA: External lecturer
Kristian Bernt Knudsen is a member of the International Business and Global Economics faculty at DIS.
On top of his teaching duties with DIS, Kristian owns and manages a number of companies. He is the Owner and Managing Director of a boutique style business consulting company, providing advisory on investment, financing, and strategic matters. Furthermore, he handles his own Private Equity company and has among other portfolio investments recently acquired a watch-and-fashion company.
Prior to this, Kristian has progressed his career through 15+ years into accomplished executive leadership positions combined with financial and strategic advisor roles while working internationally in highly esteemed public and private equity companies in various industries.
Kristian is a Chartered Financial Analyst (CFA) Charterholder and holds a Masters degree in Finance/Management from the University of Aarhus, Denmark.
Contents:
Students will study the concepts of valuation, risk management, debt finance, equity finance, capital structure, and mergers and acquisitions. Students will also be introduced to financial markets and institutions.
Prerequisites:
University-level courses in micro- and macroeconomics, as well as an introductory course in finance, is recommended.
Furthermore, knowledge of the use of spreadsheets and word processing applications is highly recommended.
Requirements:
Classroom environment: Students will be expected to actively participate in solving problems and in the discussion and debate of the cases. Students shall come prepared with their own evaluation and observations to each session, being prepared to both defend their own views as well as contribute constructively to those of others. Students will be required to work in groups.
Grading: In addition to class participation and class quizzes (30% of the grade), students will complete a Semester Project (30%) and are expected to take a Mid-term Exam (15%) and a Final Exam (25%).
The Semester Project requires a write-up of a report from each group (consisting of 5-6 students). The write-up is approx. 25 pages of text and summary data presentation as well as 1-2 pages of appendices with raw data and relevant explanatory information.
“Extra-credit” assignments: There will be no opportunities to earn “extra credit.”
Course Evaluation:
Participation: 20%
Class quizzes: 10%
Semester Project: 30%
Midterm: 15%
Final: 25%
Textbook:
Please pick up the following key textbooks from the DIS library during arrivals week:
Ross, Westerfield, Jaffe, and Jordan, Corporate Finance, 11th Ed., McGraw Hill / Irwin.
Policies:
Use of Electronic Devices in the Classroom: Laptop computers, as well as tablets, may be used, however only with the purpose to write notes on classroom material and problem/case solving. The use of other electronic devices such as mobile phones is discouraged. Students found using electronic devices for other purposes than intended for the class will receive an “F” for their participation grade.
Academic Regulations
Please make sure to read the Academic Regulations on the DIS website. There you will find regulations on:
DIS - Study Abroad in Scandinavia - www.DISabroad.org
Course Summary:
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