Finance 1
Bordeaux Portfolio mgmt. 1
Münster Introduction
2
Debt mgmt.
Cost of capital
3
Portfolio mgmt. 2
4
Structure of interest rates Debt, leverage effect, cost of capital 1 Mgmt. of interest risks: cap, floor, collar Debt, leverage effect, cost of capital 2 Options on stock, real goods and indices Mgmt. of interest risks: swaps, options
Modigliani-Miller Theory Risk & Return
5 6 7 8 9 10
Leasing
11
Evaluation of companies Convertible obligations
12
Portfolio Theory CAPM Portfolio Management Evaluation of Companies Long-term financial planning Valuation methods (DCF; Multiples) Merger & Acquisitions Risk management
Madrid Portsmouth Introduction to Introduction; Financial management Underpinning Theory, Stockmarket Efficiency and the Objectives of Financial Management Efficiency of capital Sources of Finance markets and their Characteristics Portfolio theory Portfolios – Risk and Return Financial structure and CAPM – The Capital cost of capital Asset Pricing Model Dividend policy Financial Structure and its Effects Selecting risky Forecasting Capital investments Needs M&A Dividend Policy
Rotterdam Debt valuation
Derivatives
Mergers & Acquisitions
International capital markets
The Valuation of Companies Merger and Acquisitions: Value Creation? Derivatives and Risk Management 1 Derivatives and Risk Management 2 Reviewing Investment Appraisal and Cost of Capital based on WACC and CAPM
Risk return: Efficient markets hypotheses / portfolio management CAPM Sources of finances / cost of capital Modigliani & Miller Dividend policy Valuation
Risk Management Futures & swaps Exam prep
Finance 13
Literature
Bordeaux Dividend policy
Münster Types of Risk Futures Options Revision Brealey, R.A./Meyers, Arnold, G. Corporate S.C. (1996): Principles Financial of Corporate Finance, Management. 5th edition, McGrawBetch/Groh/Lohmann: Hill Series in Finance, Corporate Finance, Ney York 1996. Perridon/Steiner: Moyer, R.C. et al: Finanzwirtschaft der Contemporary Unternehmen, Financial Steiner/Bruns: Management. Wertpapiermanageme nt, Damodaran, A. Corporate Finance
Madrid
Portsmouth Revision
Brealy, R./ Myers, S. Arnold, G. Corporate (1998): Financial Management „Fundamentos de financiación empresarial“, McGraw Hill, Madrid. Ross/ Westerfield, R./ Jaffe, J. (1995): „Finanzas corporativas“, Irwin. Suárez, A. (1996): „Decisiones óptimas de inversión y financiación en la empresa“, Pirámide, Madrid. Brigham, E./ Gopensky, L. (1991): „Financial Management“, Dryden Press, Fort Worth.
Rotterdam
Financial Management: Theory and Practice; Brigham and Ehrhardt
