Development of an Enterprise

Module 3

Business Entities II

Prof. Dr. Karsten Schmidt, Dr. Christian Bochmann

Building on the knowledge gained in Business Entities I, this course will analyze the concept of limited liability in corporations. Special attention will be given to topics of corporate governance and corporate finance in individual businesses and groups of companies. Additionally, students will be prepared for understanding business insolvency and restructuring issues. Furthermore, we will examine corporations in the transborder context, especially the legal recognition of foreign business entities and the “Societas Europaea” (European Stock Corporation). Students will receive short business scenarios and will have the opportunity to present their findings in a business game at the end of the course.


European Capital Markets Law

Dr. Malte Wundenberg

Today corporations cover their capital requirements by issuing shares and other instruments. They address themselves to institutional investors (e.g.: pension funds, hedge funds, banking houses) and private investors. Banking houses, financial analysts and rating agencies act as financial intermediaries between corporations and investors. Public offers and trading of securities on markets are supervised by public authorities; in Europe national supervisors, such as BaFin in Germany, AMF in France and FCA/PRA in the UK, and European authorities, such as ESMA. 

The course will provide students with an introduction to European Capital Markets Law. The main focus will be put on the development of a European capital markets union. The course will concentrate on market abuse, the publication of relevant information for the markets, public take-overs and the regulation of financial analysts. Special attention will be paid to recent issues of capital markets law (e.g. the “Libor-Scandal” and the regulation of benchmarks).


Capital Markets (for law graduates)

Andreas E. Meier

This lecture provides students with an introduction of the functioning of capital markets. In particular the focus lies on:

  1. Functions of capital markets
  2. Raising capital for corporations
  3. Understanding Asset Classes
    - Equities
    - Fixed Income
    - Mutual and Hedge Funds
    - Commodities
    - Real Estate
  4. Options and futures contracts (optional)
  5. Structured products (optional)
  6. Principles of risk and return
  7. Basics of portfolio construction


Case Studies in Finance (for business graduates)

PD Dr. Alexander Kerl

This course covers the foundations of financial decision making and of global financial markets using a case based approach. The theoretical guideline of the course is inspired by both paradigms; neoclassical economics as well as behavioral economics. The teaching style will be a combination of classical class teaching and case studies work.


End of Module 3 Case Study

PD Dr. Alexander Kerl

In this case study students will be confronted with sell-side analysts and the quality of their forecasts. Students will be asked to apply their knowledge gained in the courses of Module 3 in order to analyze the following three dimensions: First, the regulatory perspective focusing on the regulation of investment banks and their research departments, second, the analyst working as information intermediary and, finally, the capital market perspective that takes the investor into account.