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Startseite Intl. Business and Finance (Master)
M1 IBF
M2 IBF
M3 IBF
M4 IBF
M5 IBF
M6.1 IBF
M6.2 IBF
Master Thesis

Modulbeschreibung International Business and Finance M6.2

M6.2 IBF

M6.2  Financial Communications
Lecturer Part I  Prof. Dr. Marcus Labbé

Part II Prof. Dr. Marcus Labbé

Part III Prof. Dr. Micha Bloching
Module Type Elective Module in the 3rd semester
Study Term The module is offered once a year in the summer semester
Courses Part I  Investor Relations (2 weekly contact hours)

Part II  Behavioural Finance (2 weekly contact hours)

Part III  Equity and Capital Market Law (2 weekly contact hours)
Teaching Language English:
  • Investor Relations
  • Behavioural Finance

German:

  • Equity and Capital Market Law
Module Description

Students understand and critically reflect the essentials and necessities of financial communications, the psychological aspects of market participant behaviour, and the legal framework with which corporations and investor relations have to comply.

Part I
  • Basics of Investor Relations
  • Investor Relations and Capital Market
  • Instruments of Investor Relations
  • The Investor Relations-Manager
  • Target groups of Investor Relations
  • Accounting and Business Valuation
  • Investor Relations before /after IPO
  • Participation at the Annual IR Conference

 

Part II

  • Foundations (Financial Decision Making, Discounting, Learning, Bubbles)
  • Asset Pricing (Noise Traders, Overconfidence and Optimism, Prospect Theory, Over-/Underreaction, Momentum, Herding, Insider Trading, Equity Premium Puzzle)
  • Corporate Finance (Incorporation, The Market for Information, Noise and Deception, Dividends, Entrepreneurship)
  • The Professions (Analysts` Conflicts of Interests, Accounting Reform)

 

Part III

Equity Market Regulations

  • Articles of association and share
  • Three organs: Managing Board, Supervisory Board and Shareholders Meeting
  • Rights and Duties of shareholders
  • Workers´ participation
  • Measures of capital structure with Capital Increase, Capital Reduction, buying and selling of own stock, Convertible Bonds and Option Bonds
  • Income Bonds and Profit Sharing Rights
  • Accounting, Audit and Publication Capital Market Regulations
  • Stock Exchange Listing with Acquisition and Placement of shares
  • Proceedings for Listing in stock exchange, Due Diligence, Prospect Liability, Legal Opinions and Comfort Letters, Placement and Admittance in foreign countries
  • Behavioural Obligation regarding the capital market with Insider Regulations, ad hoc Publicity, Directors Dealings, Liability for faulty capital market information, information- and publication duties
  • Withdrawl from stock market with Delisting and cold Delisting
  • Relevant Acquisition Law (right to take over)
Module Objectives

Students acquire a detailed understanding of internal and external financial communications determined by legal guidelines, corporate governance rules, and business objectives. They learn strategic options for enterprises and how they can be applied in the real business world. Students also study the link between business communications and marketing. Thus, they learn about financial communications seen by multipliers, financial markets, and society.

The intention is to know basics of Stock Market Regulations, especially about founding a company, rights and duties of executing organs, capital measures in order to fill out position of organs and to be able to plan and arrange Foundation and Shareholders Meeting autonomously only with assistance of a legal advisor or notary.

Students will get the general knowledge about Capital Market Regulations, especially about Capital Market Products, Market Participants, Stock Regulations, Investor Protection, Securities Trading Law, Supervision of Capital Markets, to plan projects like Going Public, Acquisitions, etc. autonomously only assistance of a legal advisor or notary.
Teaching Method Lecture with integrated practical problems. The lecture is supplemented by questions for discussion /practical problems /case studies which are either solved as teamwork in class or assigned as homework problems.
Pre-requisites

Basic knowledge about financial instruments and financial markets Selection of specialization in "Financial Communications"
Credits and Contact hours 10 ECTS

Contact hours: 67,5 hours

Preparation and reading: 4,5 hours * 15 weeks  = 67,5 hours

Homework assignments: 60 hours

Case study + Presentation: 60 hours

Exam and exam preparation: 45 hours

Total: 300 hours
Assessment and contribution to module mark

50% Case Studies /Presentation/ Paper

50% Written Exam
Readings

Part I

  • Klaus Rainer Kirchhoff, Manfred Piwinger: Praxishandbuch Investor Relations, Wiesbaden 2009
Part II
  • William Forbes: Behavioral Finance, Cornwall 2009
  • Hersh Shefrin. Behavioral Corporate Finance, New York 2007

Part III

  • Kuthe/Rückert/Sickinger: Compliance-Handbuch Kapitalmarktrecht, Wiesbaden 2008
  • Marsch-Barner/Scher: Handbuch börsennotierte AG, Frankfurt/M. 2009
  • Hüffer, Kommentar zum Aktiengesetz, 8. Aufl., München 2008
  • Langenbucher, Aktion- und Kapitalmarktrecht, München 2008
  • Grunewald/Schlitt: Einführung in das Kapitalmarktrecht, 2. Aufl., München 2009