Corporate Finance

2026/2027

Academic Year

ENG

Instruction in English

3

ECTS credits

Delivered at:

Department of Finance

Course type:

Compulsory course

When:

4 year, 2 module

Instructors

Afanasev, Vladislav

Wittmann, Egor

Course Syllabus

Abstract

74164

Learning Objectives

• The aim of this course is to equip students with the knowledge and skills necessary to 1. start developing academic research in corporate finance 2. work in the finance departments of companies

Expected Learning Outcomes

• Knows basic terms and classification
• Knows current trends
• Can apply the main approaches to business valuation, understands their strengths and weaknesses
• Knows the basics of corporate finance: value maximization principle, agency problems, corporate governance mechanisms
• Can apply methods to work with: Du-pont analysis, Sustainable growth rate model, EVA
• Can apply methods for making financial decisions based on MM theory, trade-off theory, pecking order theory, and market timing theory
• Knows different financing alternatives and understands their pros and cons
• Can apply debt capacity analysis
• Understands how real-world frictions (taxes, bankruptcy costs, agency conflicts) influence capital structure decisions and can adjust capital structure decisions based on this understanding
• Understands the key concepts of M&A
• Can apply methods for valuation in M&A transactions
• Knows basic concepts of behavioral finance

Course Contents

• 1: Introduction to Advanced Corporate Finance
• 2: Advanced Investment decisions & Valuation Methodologies
• 5. Thinking as CFO
• 3: Advanced Financing Decisions 1
• 4: Advanced Financing Decisions 2
• 6: Mergers & Acquisitions and Corporate Restructuring
• 7: Behavioral Corporate Finance

Assessment Elements

• Control Work 1
  Set of problems to solve. May be multiple choice questions or open-ended numerical questions. Duration - 20 min.
• Lecture quizzes
  Tests in the beginning of every lecture from lecture 3 to lecture 7. Tests consist of 1-2 questions based on the topics of the lecture which they are taking place on. The questions are based on a specific chapters of the main textbook. The students will know which chapters to read in advance.
• Control Work 2
  Set of problems to solve. May be multiple choice questions or open-ended numerical questions. Duration - 20 min.
• Exam
  Set of problems to solve. May be multiple choice questions or open-ended numerical questions. Duration - 40 min.

Interim Assessment

• 2026/2027 2nd module
  0.2 * Control Work 1 + 0.4 * Exam + 0.2 * Lecture quizzes + 0.2 * Control Work 2

Bibliography

Recommended Core Bibliography

• Applied corporate finance, Damodaran, A., 2015
• Corporate Finance: A Systematic Approach, Kuo-Ping Chang, Springer Singapore, 978-981-19-9119-6, Published: 20 March 2023

Recommended Additional Bibliography

• Corporate Finance. Fundamentals of Value and Price. Pasquale De Luca, Springer Cham, 978-3-031-18300-3, published: 15 December 2022
• Valuation for mergers, buyouts, and restructuring, Arzac, E. R., 2008

Authors

• AFANASEV VLADISLAV VIKTOROVICH
• Soloveva Ekaterina Evgenevna