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Corporate Finance (MSc Finance)

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In the Corporate Finance track you learn how companies sell bonds or equity to raise financing from external investors, and the factors that influence their investment decisions with these funds. This track is one of 7 tracks you can opt for in our Master's in Finance.

Help organisations with financial and investment decision-making

Companies of any size continuously face decisions on how to raise and invest money. The oft-stated primary goal of publicly traded corporations is to maximize returns for its shareholders, but there are many different factors that influence returns. In the Corporate Finance track you gain insight into how corporate value depends on their capital structure, terms of financing raised, quality of investment opportunities, and corporate governance. You also will learn how to estimate the value of firms, and of corporate actions like equity offerings or mergers and acquisitions.

If you are interested in pursuing a career in corporate treasury departments, consulting firm or investment banking divisions that advise companies, or venture capital funds, this is the track for you. It also is a great track at preparing students to organise a start-up business model.

Why choose the Corporate Finance track?

  1. Beside the 6 general courses of the MSc Finance in your curriculum, you will have 3 courses with focus on financial decision-making within corporate organisations.
  2. You will be lectured by professors and experts working in a wide range of financial organisations and fields. Therefore, you have access to up-to-date cases and learnings from the field of corporate finance.
  3. After graduation, you have an excellent job prospect at positions as e.g. financial analyst, investment banker or financial director at (inter)national hedge funds or in private banking.
Copyright: iStock-1292653388-Halyna Kabanets
The courses show many different sides of finance as a working field. This gives quite a balanced view on what to expect after graduation. Denitsa Yoncheva, Corporate Finance track Read about Denitsa's experiences with this Master's

Track-specific courses

Apart from the 6 general courses of the full programme, you will follow 3 track-specific courses and electives.

  • Corporate Governance

    This course provides a state of the art understanding of modern corporate governance. It exposes students to powerful empirical research methods used to determine the effects and effectiveness of individual governance mechanisms. The latter is essential as governance fails under a checkbox-ticking approach but instead is highly context-contingent.

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. 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.

Contemporary issues

You will discuss and learn how to analyse a wide range of recent company decisions. Recent examples include:

  • 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 of its shares on the market. 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? Is this strategy 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 
  • Booking.com
  • ING
  • ABN AMRO Bank
  • McKinseyPWC

Facts & Figures
Degree programme MSc
Mode Full-time
Credits 60 ECTS ECTS, 12 months
Language of instruction English
Starts in September