Teaching

Autumn 2020:

  • Dynamic Corporate Finance and Investments, 2013-2020: Advanced course (cand.oecon + merc. + scient.oecon.): Real options analysis, numerical methods, dynamic capital structure models, M&As, corporate investments and stock returns. Work load: 31 hours + projects. Literature: Dynamic Capital Structure Theory (lecture notes), Dixit and Pindyck (1994), articles.

  • Finansiering, Investering og Virksomhedsstrategi, 2016, 2020: Mandatory course in fundamental finance theory: fixed income, CAPM, APT, options, the binomial and Black-Scholes model, capital structure (oecon and scient. oecon. students). Work load: 60 hours, class exercises, and assignments. Literature: Hillier, Grinblatt, and Titman (2012), Munk (2000a), Flor and Larsen (2015), Flor, Larsen, and Munk (2020).

Previous (examples):

Advanced Corporate Finance, autumn 2007-2011: Advanced course (cand.merc. and cand.scient.oecon.): corporate hedging, capital structure theories, IPOs, takeovers and corporate control, executive compensation. Work load: 44 hours + projects. Literatur (examples): Tirole - Theory of Corporate Finance

Dynamic Investment Strategies (co-lectured), spring 2010-2012: Advanced course (cand.merc. and cand.scient.oecon.): Real options analysis, dynamic capital structure models, (dynamic asset allocation). Work load: 44 hours + projects. Literature: Dixit and Pindyck (1994) and lecture notes.

Advanced Issues in Valuation, autumn 2008-2009 (joint teaching with Mogens Nielsen): Advanced course building on accounting and finance. Literature: Christensen and Feltham (2003), Penman (2007)

Finansiel Risikostyring* (Risk Management), spring 2006. Elective course on risk management for Business Economics students: Why do firms hedge, what risk factors should be hedged, how to hedge in practice by VaR and other instruments. Literature: Grinblatt and Titman (2002), Froot, Scharfstein, and Stein (1993), Smith and Stulz (1985), and other papers.

Business Economics 2a (Erhvervsøkonomi 2a, finansieringsmodulet), autumn 2005-2006: Mandatory course on basic finance concepts: interest rates, investment theory (NPV, internal rate of return), choice of investments. Literature: Christensen and Sørensen (2001), Christensen and Sørensen (2005).