Corporate Finance I

Corporate Finance I

Equity Financing and Capital Markets


Course offering details

Regular cycle Course is every Winter semester
Dates wednesday 11:40 a.m. to 1:20 p.m.
starting 23.10.2019
Room S1|03 23
Audience Students with Specialization
Instructors Prof. Dr. Dirk Schiereck
Examination (Examination dates)

Course Description

The course discusses major ways companies employ to finance their operations via capital markets. Equity financing is the focus of this course. Students learn about the mechanism and reasoning behind Initial Public Offerings (IPO). In particular, the course examines conceptual and application perspectives related to initial underpricing of IPOs, the valuation of IPOs, and different allocation procedures of shares. Theoretical discussions are followed by empirical findings to each topic. Then, the rational of seasoned equity offerings (SEO) is analyzed. Topics include the legal framework in different countries, cycles, undepricing, and performance of SEOs. The rational of corporate cross-listing decisions is examined as well. The second part of the course focuses on debt financing. Students are introduced to bond markets. The emphasis is on bond pricing as well as reasons, characteristics and types of corporate bonds.


No prerequisites. A working knowledge of topics covered in the introductory course “Investition und Finanzierung” are helpful.


To be announced in class.


The course will be supported by moodle . Here you will find all materials you will need for course.