Learning Objectives / Competencies:
The students are able to understand the importance of investment and financing decisions in the context of "green" innovations, to make appropriate decisions as well as to evaluate them.
With regard to the financing of innovation projects, the focus is on the possibilities of raising capital and its structuring in the various phases, as well as the structure and characteristics of different capital providers. On the investment side, students will be able to critically assess different investment options as well as the regulatory framework (e.g. ESG criteria, taxonomy) with regard to their advantages and disadvantages.
Upon completion of the module, students will be able to:
- Professional competence: The students know the basics of financing and investment decisions. They understand financing and investment calculations and can formulate and apply them in the context of sustainable innovations, taking into account the general conditions. Students will be familiar with various options for raising and investing capital and will be able to compare, assess, select and implement them. They are able to calculate, analyze and evaluate financial, accounting and sustainability ratios and to include them in the decision-making calculus. They understand the importance of innovations in the context of sustainability and know financing options for innovative projects, which they can compare, assess and select, taking into account underlying risks. They will be able to assess the opportunities or risks of capital market-based investments by means of return or risk ratios. In addition, they are familiar with further selection criteria for sustainable capital market investments, can assess their significance and limitations and use these to select suitable forms of investment.
- Methodological competence: The students are familiar with the methods of KPI-based finance and investment calculation as well as risk management. They know qualitative and quantitative sustainability criteria and are able to apply and evaluate them.
- Social competence: The students have to realize independent financing and investment decisions in the context of innovations and sustainability investments. They work on business problems independently with the help of appropriate models and, if necessary, suitable software and develop suitable models and procedures from this.
- Self-competence: Students work in small teams to collaboratively address issues to also generate shared accountability and a sense of development among team members.
They are able to independently determine and allocate relevant figures and data for investment appraisal and risk analysis in the personal operational application area.
Contents:
- Fundamentals of financing
- Innovations and sustainable projects
- Characteristics of (sustainable) innovations and selected examples.
- Mechanisms of capital markets and characteristics of sustainable investment, financing and investment decisions
- Financial market oriented sustainability management
- Innovation Finance / Entrepreneurial Finance
- Staged Financing: Types and options for internal and external financing
- Financing via venture capital
- Evaluation of innovations
- Financing risks and ways of dealing with them
- Investment in innovations and sustainable forms of investment
- (Capital market-based) investment opportunities in innovations and sustainable investments
- Investment calculations and quantitative and qualitative investment appraisal
- Value drivers and risks of sustainable investments and basic possibilities of risk management
Teaching and learning methods:
- Group work and self-study
- Group and individual presentations
- Presentations/Exercises
- Ev. field trip
- Case studies
- Learning Labs
Value of the grade in the final grade of the master's degree (master's certificate): 6 / 90
Literature:
- Baum, H.-G. et al.: Strategisches Controlling, aktuelle Auflage, Stuttgart
- Berk, J.; DeMarzo, P.: Grundlagen der Finanzwirtschaft. Analyse, Entscheidung und Umsetzung. aktuelle Auflage, Pearson.
- Bösch, M.: Finanzwirtschaft. Investition, Finanzierung, Finanzmärkte und Steuerung, aktuelle Auflage, Verlag Franz Vahlen.
- Brealey, R. A. / Myers, S. C. / Allen, F.: Principles of Corporate Finance, aktuelle Auflage, McGraw-Hill.
- Busse, F.-J.: Grundlagen der betrieblichen Finanzwirtschaft, aktuelle Auflage, Oldenbourg.
- Däumler K.: Betriebliche Finanzwirtschaft, aktuelle Auflage, Herne.
- Grunow, H.-W. / Zender, C.: Green Finance, aktuelle Auflage, Springer Fachmedien Wiesbaden.
- Guilhon, B. (Hrsg.): Venture Capital and the Financing of Innovation, aktuelle Auflage, Wiley.
- Häcker, J. et al.: Grundzüge der Unternehmensfinanzierung, aktuelle Auflage, München.
- Hoppe, C. (Hrsg.): Praxishandbuch Finanzierung von Innovationen, aktuelle Auflage, SpringerGabler.
- Kajüter, P. (Hrsg.): Risikomanagement in der Konzernpraxis, aktuelle Auflage, München.
- La Torre, M./Chiappini, H.: Contemporary Issues in Sustainable Finance, aktuelle Auflage, Cham: Springer.
- Metrick, A. / Yasuda, A.: Venture Capital and the Finance of Innovation, aktuelle Auflage, Wiley.
- Pyka, A.: Innovation and Finance, aktuelle Auflage, Routledge.
- Ramsinghani, M.: The Business of Venture Capital, aktuelle Aufglage, Wiley.
- Sachs, J. D. et al. (Hrsg.): Handbook of Green Finance, aktuelle Auflage, Springer.
- Smith, J. K. / Smith, R. L.: Entrepreneural Finance, Stanford Business Books.
- Zantow, Roger; Dinauer, Josef; Schäffler, Christian: Finanzwirtschaft des Unternehmens, aktuelle Auflage, Hallbergmoos.
Innovation Finance and Green Venture Capital