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Corporate Finance track

In the Corporate Finance track you learn to analyse complex financial decisions to uncover the underlying forces and help organisations set their strategies. This track is one of 7 tracks you can opt for in our Master's in Finance.

Help organisations with financial decision-making

Companies of any size continuously face financial decisions. The oft-stated primary goal of corporations is to maximise returns for its shareholders, but getting there involves thousands of possibilities.

During the Corporate Finance track you explore such decisions at length. You will gain insight in the framework for corporate financial decision-making related to capital structure, valuation, funding, corporate restructuring (mergers and acquisitions) and corporate governance.

Do you have a sharp mind and a fascination with numbers and governance? Do you see yourself working with a bank or a consultancy firm? Then this is your track within the Finance master’s programme.

Track-specific courses

  • Valuation

    In this course you will cover modern principles and tools of valuation; discounted cash flow models, relative (multiple-based) valuation and contingent claim/option analysis. You will conduct a full-fledged valuation exercise through a case assignment. By discussing specific companies' business models you will learn to think critically about how companies present their financial statements and what key characteristics of successful businesses are.

  • Mandatory electives, semester 2

    Choose 2 out of 4 courses:

    • Corporate Restructuring
    • Fixed Income Risk Management
    • International Corporate Finance
    • Behavioural Finance

Real-life case: acquisition Target Recommendations for AES Inc

AES Inc, whose European headquarters is located in Amsterdam, would like to acquire several companies based on the synergy with its current businesses. Which companies should AES acquire and how much should it pay as the transaction value? This is a real business case and the appropriateness of the suggestions are evaluated by the AES executives.

Real-life case: valuation of Twitter Inc.

Complete a comprehensive DCF valuation of Twitter Inc. Read actual financial statements, make your own assumptions and provide a recommendation on whether investors should buy, hold, or sell Twitter stock. Also analyse the steps that Twitter took to become profitable. Your job is to offer a well-reasoned analysis of how the business changed, and to critique management’s discussion of the changes.

Up-to-date issues

Examples of current newspaper headlines and relevant issues that could be discussed in the classroom:

  • In February 2019, Japanese carmaker Honda announced plans to shut the plant in Swindon (UK). What was the rationale behind this decision? What was the importance of Brexit in this decision? What was the role of Brexit on the economic and transaction exposure to the currency risk of Honda?    
  • Spotify went public April 3 on the NYSE. Instead of paying investment banks high fees to facilitate an IPO, Spotify followed an unconventional alternative: direct listing. According to this, existing shares became tradeable on the NYSE.  What is the rationale behind this strategy? What are the main advantages/disadvantages? To what extent could this strategy be adopted by more companies in the future?
  • Amazon recently announced its plans to begin air delivery of packages using drones. What are the  potential revenues and expenses of this strategy relative to truck-based deliveries?  Do you think this strategy is likely to succeed?  
  • Alibaba recently announced a record-breaking number of sales as part of China's annual ‘Singles Day’ shopping event. However, the sales figures do not seem to match up with reasonable estimates of internet users in China or Alibaba's ability to process shipments and electronic payments. We work through a case on Alibaba that hedge fund manager John Hempton of Bronte Capital used during job interviews.

Career prospects

Graduates of the Master's in Finance/Corporate Finance track have excellent job prospects for positions as financial analyst, investment banker, consultant, controller, CFO, treasurer, financial director and financial expert with Dutch and international companies, such as:

  • Philips 
  • ING
  • ABN AMRO Bank
  • McKinseyPWC

Banking and Regulation and 7 other tracks

Corporate Finance is one of 7 tracks you can opt for in our MSc Finance. If you are more interested in another field of Finance, read the info on one or more of the other tracks.