Due to the Corona Virus the information regarding study and examination for semester 2 (block 3 and 4) is not up-to-date. For the latest news please check the course page in Blackboard/Brightspace.

Prospectus

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Corporate Finance

Course
2019-2020

Course requirements

Master degree in Law. This course is part of the Advanced Master Law and Finance.

More information: https://www.universiteitleiden.nl/en/education/study-programmes/master/law-and-finance

Course information

This course is dedicated to corporate finance. Corporate finance is most commonly used in merger & acquisition processes. Hence, this course will start to explain and provide context of the actors in these processes, their roles/inter-relation to each other and the background for the requirements for valuations. Thereafter the course will provide lawyers with the basic understanding of the theoretical foundations of valuation fundamentals and methodologies, against the backdrop of mergers, take-overs and public to private transactions. In addition, time will be spend on understanding the dynamics of valuations in relation to the role of uncertainty and risk and corporate governance. Apart from the financial aspects, we will also focus on the broad legal context of these processes, with a particular focus on fairness opinions. Concrete cases will be presented throughout the course to learn how to apply this knowledge in practice. Upon completion of the course, students should be able to comprehend the aspects of valuations and will gain an understanding of the context in which valuations are being used.

Course learning objectives

This course aims to offer students a broad introduction to the themes of corporate finance and to increase their understanding of financial markets and valuation methodologies. After completing the course:

  • Students are able to explain the drivers of M&A decisions and are able to identify the various actors involved.

  • Students are able to identify the relevant legal and governance aspects involved with M&A and valuations and are able to include the relevant legal clauses in legal documentation.

  • Students are able to analyze a business plan.

  • Students are able to describe the various valuation methods available, such as DCF and capital markets pricing mechanisms.

  • Students are able to calculate/understand free cash flows and cost of capital calculations.

  • Students are able to answer concrete case questions and present answers.
    Lectures

  • Number of (2 hour) lectures: 10

  • Names of lecturers: Wouter H.L. Han & Dr. Nancy Edwards

  • Required preparation by students: reading of prescribed materials

Mode of instruction

Lectures

  • Number of (2 hour) lectures: 10

  • Names of lecturers: Wouter H.L. Han & Dr. Nancy Edwards

  • Required preparation by students: reading of prescribed materials

Examination method

  • Final exam: take home exam 100%

The final exam will consist of a pracitical assignment requiring the student to respond to a concrete case covering topics discussed in the course. The final exam will be made available to students via Blackboard.

The final grade, on the scale from 1(poor) to 10 (outstanding), for the course is established by determining the weighted average and rounded to full grades. Grade 6 (5.5 rounded) is a pass.

Further information about the take home exam will be communicated to students through Blackboard closer to the exam date.

Blackboard

Course reader and additional literature is distributed through Blackboard.

Course materials

Obligatory course materials:
Literature:
Mergers, Acquisitions, and Other Restructuring Activities
8th Edition
Authors: Donald DePamphilis
Hardcover ISBN: 9780128013908
eBook ISBN: 9780128024539
Imprint: Academic Press
Published Date: 11th September 2015

Contact

Course Coordinator:
Mr. Wouter H.L. Han

Programme Coordinator:
Ms. Orsolya Kalsbeek-Bagdi
Email address: lawandfinance@law.leidenuniv.nl