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| Udgave: |
Jura Kandidatuddannelsen 2012/2013 |
| ECTS points: |
10 ECTS (10 ECTS for law students) |
| Punkter: |
10 ECTS (10 ECTS for law students) |
Semester: |
Spring 2013 SAMF (joint with faculty of law)
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| Uddannelsesdel: |
Kandidat niveau |
| Kontaktpersoner: |
Department of Economics:
• Søren Hovgaard (course coordinator), email:
soren.p.hovgaard@econ.ku.dk
Faculty of Law:
• Jesper Lau Hansen, email:
jesper.lau.hansen@jur.ku.dk
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| Andre undervisere: |
Department of Economics:
• Søren Hovgaard (course coordinator), email:
soren.p.hovgaard@econ.ku.dk
Faculty of Law:
• Jesper Lau Hansen, email:
jesper.lau.hansen@jur.ku.dk
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| Skema- oplysninger: |
Information about classroom come later
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| Skema- oplysninger: |
 Vis skema for kurset
Samlet oversigt over tid og sted for alle kurser inden for Lektionsplan for Det Jurdiske Fakultet (kandidat) Jura Kandidatuddannelsen 2012/2013 |
| Undervisnings- periode: |
Thursday 14-17
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| Formål: |
To obtain a 12 grade students should demonstrate a thorough understanding of micro and/or macro aspects of private equity in broad terms and/or a thorough understanding of a particular topic within the overall framework of the course.
On a macro level, students should demonstrate a thorough understanding of industry drivers, such as the growth in savings deployable, the effects of corporate governance and regulation on the attractiveness of private versus public capital as well public policy issues such as transparency, any systemic risks associated with financial innovation and in particular the trading and transfer of risks and taxation.
On a micro level, students should demonstrate a thorough understanding of the structures and workings of venture capital and private equity firms, in particular on the screening, investment, value creating and exit cycle, on capital structure issues as related to the stage and risk profile of portfolio companies, on the control and agency issues related to governance as well as of the contracts used to regulate principal/agent relations and to ensure alignment of interest, both in relation to limited partners and general partners and in relation to portfolio companies.
As this is a multi disciplinary course, students may select a topic of their own choosing within law, economics, finance and public policy for their project work. Students may choose to submit a paper with a more narrow focus than described above and achieve a 12 grade based on a thorough understanding of the subject matter in question and an overall understanding of the course material.
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| Indhold: |
The course is a joint University of Copenhagen Department of Economics/Faculty of Law graduate course introducing students to key aspects of private equity. The course is designed to be of interest to students of law, economics, finance and public policy, emphasizing the interrelationships between academic disciplines within this field.
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| Kompetence- beskrivelse: |
The course is a joint University of Copenhagen Department of Economics/Faculty of Law graduate venture introducing students to key aspects of private equity and hedge funds.
Students completing this course will have gained an understanding of the workings and practices of private equity and hedge funds as well as regulatory, economic, corporate governance and public policy implications of the growth of the alternative investment industry. Students will also have had an opportunity to study with fellow students from other departments and/or academic fields within departments, as well as gaining insights and perspectives from external speakers from the alternative investment industry, portfolio companies and regulators.
To obtain a 12 grade, students should demonstrate through their written project work and the oral examination a thorough understanding of micro and/or macro aspects of the alternative investment industry, in particular private equity and hedge funds, in broad terms and/or a thorough understanding of a particular topic within the overall framework of the course.
On a macro level, students should demonstrate a thorough understanding of industry drivers, such as the growth in savings deployable, the effects of corporate governance and regulation on the attractiveness of private versus public capital as well public policy issues such as transparency, any systemic risks associated with financial innovation and in particular the trading and transfer of risks and taxation.
On a micro level, students should demonstrate a thorough understanding of the structures and workings of private equity funds, in particular on the screening, investment, value creating and exit cycle, on capital structure issues as related to the stage and risk profile of portfolio companies, on the control and agency issues related to governance as well as of the contracts used to regulate principal/agent relations and to ensure alignment of interest, both in relation to LPs and GPs and in relation to portfolio companies and management thereof.
As this is a multi disciplinary course, students may select a topic of their own choosing within law, economics, finance and public policy for their project work. Students may choose to submit a paper with a more narrow focus than described above and achieve a 12 grade based on a thorough understanding of the subject matter in question and an overall understanding of the course material.
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| Faglige forudsætninger: |
Formal training at a bachelor and/or master level and practical experience in finance, business strategy, corporate governance and contract law would be helpful.
Students should have en interest in financial markets, management, innovation, regulation and contracts seen mainly from a practical perspective.
Basic theories and concepts from finance and law will be introduced during the course to facilitate learning for students of economics and finance as well as for law students.
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| Formelle krav: |
See below: Examination
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| Eksamensform: |
The exam is a written paper in English on a subject written within the course outline. The subject is chosen by the student, and the student may ask the lecturers for prior approval of the subject. The paper should be of 8 - 12 pages (max. 31,000 characters incl. space) excl. index and appendixes. Submission of the paper is done electronically at the course homepage. The deadline for submission is late May, early June (a more precise date is disclosed later).
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| Eksamen: |
beginning of June 2013 |
| Kursus hjemmeside: |
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| Kursus hjemmeside: |
Course homepage on Absalon www.econ.ku.dk
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| Pensum: |
Required reading, total pages 297
Private Equity as an Asset Class, CH 1-8, Guy-Fraser-Sampson, Wiley Finance, 2007, pages 180
Contracts & Incentives, THR, NA, pages 23
Capital Structure, Stewart C. Myers, Journal of Economic Perspectives, spring 2001, pages 21
A Survey of Corporate Governance, Andrei Shleifer; Robert W. Vishny, The Journal of Finance, Vol. 52, No. 2. (Jun., 1997), pp. 737-783., pages 46
Limited Partnership Agreements, NA, BVCA, pages 27
Suggested supplementary material
The Economics of the Private Equity Market, George W. Fenn and Nellie Liang, Dallas FED, pages 72
Relevant legal acts, Public acts, Plesner (law firm), pages n/a
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| Undervisnings- sprog: |
Kun engelsk
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| Sidst redigeret: |
23/1-2013 |