Essex Business School
Postgraduate: Level 7
Monday 13 January 2020
Friday 20 March 2020
25 September 2019
Requisites for this module
MSC N39012 Finance and Investment,
MSC N39024 Finance and Investment,
MSC N30212 Finance and Management
The purpose of this module is to give a standard introduction of the field of corporate finance at the postgraduate level. The first part of this module looks at the classical areas of Modigliani-Miller irrelevance, Taxes and capital structure, Trade-off theory and Pecking order theory of capital structure. The second part looks at the more modern areas, which are essentially based on contract theory. Here we look at agency based models and asymmetric information based models of corporate finance. The final part looks at empirical evidence - some time will be allocated to the area of financial constraints - and if time permits, some special topics in corporate finance such as corporate restructuring (mergers, takeovers, workouts, buyouts etc). This is not an introductory Module.
The module aims primarily to introduce students to the roles of agency costs and information asymmetries in corporate financial decision making.
On successful completion of the module, students will be able to:
1. Understand, demonstrate knowledge of, and solve problems related to capital structure
2. understand, demonstrate knowledge of, and solve problems related to agency costs and information cost of financing
3. understand, demonstrate knowledge of and solve problems related to financial constraints and various topics covered in the lectures
Skills for Your Professional Life (Transferable Skills)
The module will teach students communication skills and problem solving skills, in particular how to structure and break down a large problems into smaller manageable bits.
There will be a double lecture and a single tutorial each week.
This module does not appear to have any essential texts. To see non-essential items, please refer to the module's reading list.
Assessment items, weightings and deadlines
|Coursework / exam
||120 minutes during Summer (Main Period) (Main)
Module supervisor and teaching staff
Norvald Instefjord and Yiwei Li
Dr Nikolaos Papanikolaou
Senior Lecturer in Accounting & Finance
Available via Moodle
Of 34 hours, 22 (64.7%) hours available to students:
12 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).
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