Corporate Finance

The exam preparation course in Corporate Finance is for all students, whether you are unsure about passing the exam and want a thorough review of the harder parts of the curriculum, or if you have a good understanding of the curriculum and want to improve this in more detail.

The course is geared towards solving the exam, which means we focus on problem solving in Excel and how to generate the best possible exam solution.

The majority of the instruction will be solving assignments on an exam level. Therefore, we expect that you are comfortable with the easier and more basic subjects of the exam curriculum. The assignments are variants of previous exam questions, so you will only experience "new" assignments.

The course will give you tools to:

• Recognize and identify the question type
• Set up and apply relevant models and methods correctly and thereby solve the question
• Use relevant Excel functions to solve assignments
• Check your answer
• "Save time" at the exam

Since time is a scarce resource, the focus will be on the most difficult and exam-relevant parts of the syllabus.

This means that the course does not contain a general review of the entire syllabus.

Curriculum: 

• The Time Value of Money
• Moving payments forward and backwards in time
• The law of one price
• Investment Theory
• Associated models like NPV, IRR, Payback etc.
• Portfolio Theory
• Risk and return, diversification, building portfolios, optimization
• Cost of Capital
• CAPM
• rE, rD, rU, WACC
• Capital Structure
• Modigliani and Miller Proposition I and II with and without taxes
• Limitations on debt, financial distress costs, agency costs etc.
• Theories of capital structure control
• Valuation of Projects
• Capital investment decision models (cash flow models and net working capital)
• Valuation of Firms
• Valuation models and comparables
• Payout Policy
• Investments, dividends, share repurchases, taxes and their effect on value
• Options
• Financial options
• Real options
• Binomial trees and risk neutral pricing
• Options in continuous time
• Mergers & Acquisitions
• Risk Management
• Insurance
• Duration