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Instructors: Prof. Dr. rer. pol. Dirk Schiereck
Event type:
Lecture
Org-unit: Dept. 01 - Law and Economics
Displayed in timetable as:
vl_Corp. Finance I
Subject:
Crediting for:
Hours per week:
2
Language of instruction:
German and English
Min. | Max. participants:
- | -
Literature:
To be announced in class.
Preconditions:
No prerequisites. A working knowledge of topics covered in the introductory course "Finanzierung" are helpful.
Official Course Description:
The course discusses major ways companies employ to finance their operations via capital markets. Equity financing is the focus of this course. Students learn about the mechanism and reasoning behind Initial Public Offerings (IPO). In particular, the course examines conceptual and application perspectives related to initial underpricing of IPOs, the valuation of IPOs, and different allocation procedures of shares. Theoretical discussions are followed by empirical findings to each topic. Then, the rational of seasoned equity offerings (SEO) is analyzed. Topics include the legal framework in different countries, cycles, undepricing, and performance of SEOs. The rational of corporate cross-listing decisions is examined as well. The second part of the course focuses on debt financing. Students are introduced to bond markets. The emphasis is on bond pricing as well as reasons, characteristics and types of corporate bonds.
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