The first part of the course will be a detailed examination of contemporary corporate finance, including the following topics:
(1) Valuation of investments by the method of discounted net present value of projected cash flow.
(2) Contemporary market theories, including the Capital Asset Pricing Model, Arbitrage Pricing Theories and Chaos Theories.
(3) The Efficient Market Hypothesis, in theory and practice, and its effect on legal regulation.
(4) Options and other derivative investments.
The second part of the course will be an introduction to the regulation of securities and securities markets in the United States and the European Community. The topics will include:
(1) The operation of auction securities exchange (such as the New York Stock Exchange - NYSE) and distribution securities networks (such as the National Association of Securities Dealers Automatic Quotation System - NASDAQ)
(2) The process of underwriting and distributing stocks, bonds and other securities.
(3) The character and extent of necessary regulation: disclosure - based regulation, "merit" regulation, anti - fraud rules, and limits on the access to securities markets.
(4) Prospectus requirements for the issuance of securities.
(5) Periodic disclosure requirements.
(6) Anti - Fraud rules, insider - trading prohibitions, and the role of civil liability and criminal penalties.
(7) Tender offers and take - overs.
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