Taxation und Corporate Finance (23100)

Module objectives

The students

• become aware of basic problems and concepts in taxation and corporate finance (investment, M & A)
• gain knowledge about national and international tax regulations regarding the taxation of profits, investments, mergers and acquisitions,
• learn how to consider business taxes in the valuation of investments, the valuation of firms and the calculation of M & A prices,
• learn how taxes affect investment decisions and M & A decisions from a theoretical perspective considering
• approaches like discounted cash flow andneoclassic investment theory,
• learn how to measure and to identify tax effects on investment decisions empirically,
• gain knowledge on tax measurement in the field of corporate finance (effective tax rates).

Contents

• Taxes and investment decisions (post-tax NPV, tax effects)
• Taxes and the valuation of firms (Taxation of firm acquisitions, tax CAPM, )
• Taxation of mergers (Umwandlungssteuerrecht, Steuerplanung bei Umwandlungen) 

Schreiber, U. (2017): Besteuerung der Unternehmen: Eine Einführung in Steuerrecht und Steuerwirkung, 4. Auflage, Gabler Verlag: Wiesbaden.

Scheffler, W. (2013): Besteuerung von Unternehmen III: Steuerplanung, 2. Auflage, Müller Verlag: Hüthig/Jehle/Rehm.

Brähler, G. (2017): Umwandlungssteuerrecht: Grundlagen für Studium und Steuerberaterprüfung, 10. Auflage, Springer-Gabler: Wiesbaden