Corporate & Entrepreneurial Finance

Department

Master's program International Business & Management

Course unit code

IBaM-M-3-M_12-CEF-ILV-O

Number of ECTS credits allocated

4.0

Name of lecturer(s)

WP/StB Mag. Pichler Thomas, Mag. Mandl Stefan, Mag. Dr. Bruckner Bernulf

Mode of delivery

blended learning

Recommended optional program components

none

Recommended or required reading

Berk, J., & DeMarzo, P. (2019). Corporate Finance (5th global ed.). Harlow: Pearson Education.
Brealey, R.A., Myers, S.C., & Allen, F. (2019). Principles of Corporate Finance (13th intl. ed.). New York: McGraw-Hill Irwin.
Damodaran, A. (2014). Applied Corporate Finance (4th ed.). New York: Wiley.
Doupnik, T. S., Finn, M. T., & Gotti, G. (2019). International accounting. McGraw-Hill Higher Education
Harrison, W. T., Horngren, C. T., Thomas, C. W., Suwardy, T., & Tietz, W. M. (2018). Financial accounting. Pearson Higher Education.
Inc., M. &., Koller, T., Goedhart, M., & Wessels, D. (2020). Valuation: Measuring and managing the value of companies. John Wiley & Sons.
Institut der Wirtschaftsprüfer (Hrsg.) (2017). International Financial Reporting Standards IFRS: IDW Textausgabe einschließlich International Accounting Standards (IAS) und Interpretationen. IWD.
Madura, J., & Fox, R. (2017). International financial management. Cengage Learning EMEA.
PKF International Ltd. (2021). Wiley 2021 interpretation and application of IFRS standards. John Wiley & Sons.

Assessment methods and criteria

Exam

Level of course unit

Master

Year of study

Fall 2025

Semester when the course unit is delivered

3

Language of instruction

English

Learning outcomes of the course unit

Within this module, students acquire competencies in capital budgeting and instruments of equity, mezzanine and debt financing. They will gain knowledge of the principles of the time value of money, risk and return, futures and options. Furthermore, students will be able to apply the principles of the portfolio theory, risk analysis and black scholes model calculation. Comparing, relating and elaborating on what is learned about the capital asset pricing model and valuing capital assets is another major learning objective.

Course contents

• Perspectives of CFO, investor and debtor vs. financial (external) accounting
• Different financial systems and influence on corporation's capital structure and on instruments for corporate finance
• Review of capital budgeting
o Time value of money and interest rates (perpetuities, annuities, interest rates and inflation)
o Investment appraisal techniques (present value, net present value, internal rate of return)
• International funding: instruments of equity, mezzanine and debt finance in market-based and bank-based financial systems
• Entrepreneurial finance
• Risk & return
o Modern portfolio theory (MPT) & capital asset pricing model (CAPM)
o Portfolio selection: goal, mechanics, and applications
o Valuing capital assets: bonds and share pricing, introduction in company valuation, yield calculation
o Futures – overview, margin settlement, hedging

Planned learning activities and teaching methods

The course comprises an interactive mix of lectures, discussions and individual and group work.

Work placement(s)

none