Syllabus F373 S2018 022118a.pdf

Syllabus F373 S2018 022118a.pdf - Bernstein/Siegel FIN 373...

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Bernstein/Siegel FIN 373: Entrepreneurial Finance Spring 2018 Page | 1 of 25 FINANCE 373: Entrepreneurial Finance Shai Bernstein / Robert Siegel Spring 2018 Course Syllabus This is a course about the financial decision-making process largely from the point of view of the CEO of an entrepreneurial venture, ranging from very early to very late stages. The course analyzes the incentives of all parties in entrepreneurial financial transactions: founders, employees, angels, VCs, corporate investors and public markets. The pedagogy takes a two-pronged approach: First, we develop tools and concepts of corporate finance related to modeling, valuation, control, and investment decisions within an entrepreneurial context. Second, we use cases with firms at different stages of their life cycles from initial angel or venture capital investments through exit decisions, in order to see the issues that arise when these principles are applied in practice. In some cases we show the viewpoint of the entrepreneur and in others the perspective of the investor. After all, as an entrepreneur, one cannot negotiate effectively without understanding an investor's motivations. Conversely, an investor cannot evaluate a potential investment opportunity without appreciating the entrepreneur's perspective and incentives. Finally, we explore new developments in entrepreneurial finance such as crowdfunding and early liquidity provisions. The course is broadly divided into three modules:
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