Postgraduate Course: Corporate Finance and Law (LAWS11525)
Course Outline
| School | School of Law |
College | College of Arts, Humanities and Social Sciences |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
| SCQF Credits | 20 |
ECTS Credits | 10 |
| Summary | Corporate finance law is essential for understanding how a business finances its operations and makes investment decisions in compliance with the legal and regulatory systems of its jurisdiction. This course is tailored for students who wish to acquire a comprehensive understanding of the theory and practice of corporate finance and UK corporate finance law.
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| Course description |
The aim of this course is to provide students with the fundamental knowledge and academic insights to analyse the practical and legal aspects of corporate financing activities, operations and investment decisions.
It will cover five core topics in the field of corporate finance law.
The first topic (seminars 1 and 2) is an introduction to the primary mechanisms for companies to raise capital, i.e. equity financing and debt financing, the theories of capital structure, as well as the legal constraints on raising and using corporate capital.
The second topic (seminars 3 and 4) is public equity financing, which focuses on companies offerings of equity shares to the public. Under the lecturer's guidance, students will study selected legal or business cases of public offerings.
The third topic (seminars 5 and 6) is private equity financing, which explores the fundamental concepts and economic significance of private equity, as well as the legal constraints on private equity structuring and transactions.
The fourth topic (seminars 7, 8 and 9) is takeovers, which comprehensively examines the financial theories of the market for corporate control as well as the defining features and specific rules of the UK takeover regulation. Under the lecturer's guidance, students will study selected legal or business cases of takeovers.
The fifth topic (seminar 10) is debt financing. From a practical perspective, it will introduce contract law issues concerning corporate debt.
By the end of the course, students will be able to carry out theoretically inspired and academically rigorous analyses of the role of corporate finance law and the interactions between practice and law in the dynamics of corporate finance.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Course Delivery Information
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| Academic year 2024/25, Not available to visiting students (SS1)
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Quota: 30 |
| Course Start |
Semester 1 |
Timetable |
Timetable |
| Learning and Teaching activities (Further Info) |
Total Hours:
200
(
Seminar/Tutorial Hours 20,
Programme Level Learning and Teaching Hours 4,
Directed Learning and Independent Learning Hours
176 )
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| Assessment (Further Info) |
Written Exam
0 %,
Coursework
100 %,
Practical Exam
0 %
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| Additional Information (Assessment) |
The summative assessment is made up of three components:
(i) A group presentation in the seminar on the case studies of public offerings, counting towards 5% of the final mark;
(ii) A group presentation in the seminar on the case studies of takeovers, counting towards 5% of the final mark;
AND
(iii) One written essay of up to 4000 words in length, counting towards 90% of the final mark. |
| Feedback |
Summative assessment:
Oral feedback on group presentations will be provided by the lecturers in the relevant seminars;
Written feedback on essays will be provided by markers in the Turnitin system;
Individual marks for group presentations and essays and aggregate marks will be released in accordance with the University¿s schedule for assessments.
Formative assessment:
It will take the form of a writing sample of up to 1000 words;
The question will be released by Week 3;
Students will be given 3 to 4 weeks to complete the assessment;
Feedback will be available by the end of the course. |
| No Exam Information |
Learning Outcomes
On completion of this course, the student will be able to:
- Demonstrate a comprehensive understanding of the general business principles of corporate finance and the mechanics, structures and functions of a variety of corporate financing activities.
- Demonstrate a thorough understanding of the legal principles and rules in UK law that govern corporate financing activities, operations and investment decisions.
- Demonstrate a thorough understanding of the implications of both financial and legal theories for the practice and law of corporate finance.
- Demonstrate an in-depth and critical understanding of the interactions between the practice and law of corporate finance, especially the impact of legal guidance and constraints on corporate behaviours and strategies.
- Demonstrate an in-depth and critical understanding of the developments in corporate financing and investment approaches and the emerging and salient legal issues concerning these developments.
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Reading List
L. Gullifer and J. Payne, Corporate Finance Law: Principles and Policy (Hart 2020, 3rd edn)
E. Ferran et.al., Principles of Corporate Finance Law (CUP 2023, 3rd edn)
P. Davies et.al., Gower: Principles of Modern Company Law (Sweet & Maxwell 2021, 11th edn)
R. Kraakman et. al., The Anatomy of Corporate Law (OUP 2017, 3rd edn)
Frank H. Easterbrook and Daniel R. Fischel, The Economic Structure of Corporate Law (Harvard University Press 1991) |
Additional Information
| Graduate Attributes and Skills |
1. Skills and abilities in research and enquiry
Critically review, consolidate and extend knowledge and thinking in corporate finance practice and law.
Apply critical analysis, evaluation and synthesis to forefront legal issues associated with corporate finance.
2. Skills and abilities in personal and intellectual autonomy
Develop original and creative legal perspectives to address practical problems in corporate finance.
3. Skills and abilities in communication
Engage in class discussions to foster theoretically inspired legal analysis and practice-oriented case analysis.
Present opinions on practical and legal problems by way of oral answers in class or written answers in assessments.
4. Skills and abilities in personal effectiveness
Exercise self-motivation and initiatives in academic activities, including preparation for seminars and presentations of arguments through written and verbal communications.
Develop a problem-solving orientation for combining theories with practice and applying the law to practice.
5. Technical/practical skills
Develop skills in reading, critical analysis, legal reasoning, case analysis, written and oral communications, and problem-solving, which are essential for postgraduate studies and careers in academia, legal practice or industry. |
| Keywords | Corporate finance,equity financing,debt financing,capital maintenance,public offerings |
Contacts
| Course organiser | Dr Longjie Lu
Tel: (0131 6)50 2336
Email: Longjie.Lu@ed.ac.uk |
Course secretary | Miss Hannah Ackroyd
Tel: (0131 6)50 2008
Email: hackroyd@ed.ac.uk |
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