NA434A/FE434A · Örebro University · Autumn 2026
How firms invest, borrow and pay out, and what they are worth
A master’s course on the financial decisions of firms, built on Berk and DeMarzo. Part I builds the tools of valuation; Part II asks what changes when taxes, financial distress, agency problems and private information matter, and ends with valuing a whole firm.
Every value in this course comes from cash flows you can trace, discounted at a rate you can defend.
Schedule
| Date | Time · room | Part | Session |
|---|---|---|---|
| Fri 13 Nov | 10:15–12:00 · P200 | I | Part I begins (Taylan Mavruk): ch. 2, 3, 4, 7, 8, 9 and 14 over five sessions, order announced by Taylan |
| Fri 13 Nov | 13:15–15:00 · L159 | I | Part I |
| Thu 19 Nov | 10:15–12:00 · T129 | I | Part I |
| Thu 19 Nov | 13:15–15:00 · T129 | I | Part I |
| Thu 26 Nov | 13:15–15:00 · L159 | I | Part I |
| Thu 3 Dec | 08:15–10:00 · P101 | II | Ch. 16 Financial distress, managerial incentives and information |
| Tue 8 Dec | 10:15–12:00 · Hörsal M | II | Ch. 17 Payout policy |
| Wed 9 Dec | 13:15–15:00 · L159 | II | AI-project presentations (40 min); ch. 18 Valuation with leverage |
| Mon 14 Dec | 10:15–12:00 · P101 | II | Ch. 19 Valuing a firm: a Swedish case |
| Tue 15 Dec | 10:15–12:00 · T101 | Guest | Patrick Nimander, CFO Kommuninvest (formerly CFO of EKN): export finance, short-term finance and the role of the CFO |
| Fri 8 Jan 2027 | 11:15–14:15 · digital exam room | Exam | |
| Fri 19 Feb 2027 | 09:15–12:15 · digital exam room | Re-exam |
Rooms and times come from Kronox; check it the day before, since the university can change rooms.