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Corporate Finance

Опубликовано на портале: 21-10-2003
Факультет: Kellogg School of Management
Кафедра: Finance Department
Год: Fall 1996
Язык: Английский
Тематические разделы: Экономика, Финансовая экономика, Финансовая экономика: Корпоративные финансы

This course covers the basics of capital budgeting, dividend policy, and capital structure. It is the second course in the finance sequence.


I. Capital Budgeting
1. Introduction
- Course objectives and goals
- Role of financial manager
- Market efficiency
2. Financial Options
- Calls and puts
- Payoff diagrams
3. Asset Options
- Investment projects as real options
- New and improved NPV

II. Dividend Policy
4. Dividend Policy: Irrelevance
- MM irrelevance proposition
- Taxes - do they matter?
5. Dividend Policy: Signaling
- Event study evidence
- Asymmetric information

III. Capital Structure
6. Capital Structure Irrelevance
- What is debt and equity?
- MM irrelevance proposition
7. Capital Structure: Taxes
- Tax incentives of debt
- Personal taxes
8. Capital Structure: Financial Distress
- Costs of financial distress
9. Capital Structure: Signaling
- Event study evidence
- Cost of underpricing
10. Capital Structure: Conflicts of Interest

IV Applied Topics
11. Risk Management and Hedging
- Violations of the MM assumptions
12. Compound and Exotic Securities
- Convertible securities
- Callable/Exchangeable securities
- Warrants
13. Small Business Finance
14 Mergers and Acquisitions

Brealy, Myers Principles of Corporate Finance, 5th ed., McGraw Hill (BM)

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См. также:
James E. Walter
Journal of Finance. 1956.  Vol. 11. No. 1. P. 29-41. 
Paul Anthony Samuelson
Journal of Political Economy. 1964.  Vol. 72. No. 6. P. 604-606. 
Merton H. Miller, Franco Modigliani
Journal of Business. 1961.  Vol. 34. No. 4. P. 411-433. 
Michael J. Barclay, Neil D. Pearson, Michael Steven Weisbach
Journal of Financial Economics. 1998.  Vol. 49. No. 1. P. 3-43. 
Michael J. Barclay, Clifford W. Smith
Journal of Finance. 1995.  Vol. 50. No. 2. P. 609-631. 
Tapio Palokangas
William F. Sharpe, Gordon J. Alexander, Jeffrey W. Bailey