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| Module code: WIMAScWPF-W1 |
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4V (4 hours per week) |
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6 |
| Semester: 1 |
| Mandatory course: no |
Language of instruction:
German |
Assessment:
Written exam
[updated 18.12.2018]
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WIMAScWPF-W1 (P450-0221) Industrial Engineering, Master, ASPO 01.10.2014
, semester 1, optional course, course inactive since 09.12.2019
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60 class hours (= 45 clock hours) over a 15-week period.
The total student study time is 180 hours (equivalent to 6 ECTS credits).
There are therefore 135 hours available for class preparation and follow-up work and exam preparation.
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Recommended prerequisites (modules):
None.
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Recommended as prerequisite for:
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Module coordinator:
Prof. Dr. Andy Junker |
Lecturer:
Lehrbeauftragte
Prof. Dr. Timo Defren
[updated 13.01.2020]
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Learning outcomes:
Corporate Finance:
After successfully completing this module, students will be able to establish the link between financial management objectives and a company´s position in the capital markets based on their knowledge of corporate finance and investment. They will understand the basic shareholder value concept and the associated value drivers of a company. In addition, they will be able to determine the financial situation of a company looking at the annual financial statements and assess it based on key figures.
Students will be able to prepare their own cash flow statements and develop a company´s financial and liquidity planning. In doing so, they will be able to distinguish between long-term and short-term financial planning.
They will also be able to explain and differentiate the theoretical models for determining risk and return. In particular, they will have learned the concept of the portfolio theory and the resulting model for determining equity capital costs (CAPM).
With the EVA concept, students will be familiar with an essential concept in the context of value-oriented corporate management. Students will be able to model and explain the theories on optimal capital structure and dividend policy.
Finally, students will be able to explain the basic valuation procedures and apply them to given cases, as well as assess their benefits for various M&A transactions.
Financial Risk Management:
After successfully completing this module, students will be able to interpret the general concept of risk and distinguish it from the concept of financial risk. In addition, they will be able to map the risk management process.
Students will be able to:
- present and evaluate the different types of stock options and assess their applicability,
- describe and evaluate interest rate futures (long and short) and assess their applicability,
- describe FX forwards with regard to the essential influencing factors and calculate them in real cases,
- explain interest rate swaps and currency swaps with regard to their structure and areas of application, and calculate them in specific cases,
- explain interest rate limit contracts with regard to their structure and areas of application, and calculate them in specific cases.
Corporate Finance:
[updated 18.12.2018]
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Module content:
1 Introduction to Corporate Finance
2 Shareholder Value and Financial Analysis
3 Financial and Liquidity Planning
4 Understanding Risk and Return
5 Cost of Capital and Capital Structure
6 Valuation of a Company
7 Mergers and Acquisitions
Financial Risk Management:
Chapter 1: Introduction
1.1 Risk
1.2 Market price risk
1.3 Credit risk
1.4 Liquidity risk
1.5 Principles of risk management
Chapter 2: Option trading
Chapter 3: Futures
Chapter 4: FX forwards
Chapter 5: Interest rate swap und currency swap
Chapter 6: Interest rate limit contracts
6.1 Interest rate cap
6.2 Interest rate floor
6.3 Collars
6.4 Forward Rate Agreements
[updated 18.12.2018]
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Teaching methods/Media:
Lecture and exercises
[updated 18.12.2018]
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Recommended or required reading:
Corporate Finance:
Berens, W.: Due Diligence bei Unternehmensakquisitionen, latest edition, Stuttgart.
Brealey, R. A./Myers, S. C.: Principles of Corporate Finance, latest edition, New York.
Bruner, R. F./Eades, K. M./Schill, M. J.: Case Studies in Finance: Managing for Corporate Value Creation, latest edition, Boston.
Damodaran, A.: Applied Corporate Finance, latest edition, Hoboken.
Ernst, D.: Applied International Corporate Finance, latest edition, München.
Hommel, M./Dehmel, I.: Unternehmensbewertung Case by Case, latest edition, Frankfurt.
Müller-Stewens, G./Kunisch, S./Binder, A.: Mergers & Acquisitions: Analysen, Trends und Best Practices, Stuttgart 2010.
Ross, S. A./Westerfield, R./Jaffe, J., Modern Financial Management, latest edition, Boston.
Financial Risk Management:
Albrecht, P. / Maurer, R.: Investment- und Risikomanagement, latest edition, Schaeffer-Poeschel, Stuttgart.
Allen, S: Financial Risk Management, John Wiley & Sons, latest edition, New Jersey.
Bloss, M. / Ernst, D.: Derivate, latest edition, München und Wien.
Bösch, M.: Derivate, München 2011.
Eilenberger, G.: Währungsrisiken, Währungsmanagement und Devisenkurssicherung von Unternehmungen, latest edition, Frankfurt a.M..
Eller, R. (Hrsg.): Handbuch derivativer Instrumente, latest edition, Stuttgart.
Geyer, C. / Uttner, V.: Praxishandbuch Börsentermingeschäfte, latest edition, Wiesbaden.
Heidorn, T.: Finanzmathematik in der Bankpraxis, latest edition, Wiesbaden.
Hull, J. C.: Options, Futures and other Derivatives, latest edition, New Jersey.
Uszczapowski, I. / Müller, H.G.: Optionen und Futures verstehen, latest edition, München.
[updated 18.12.2018]
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