The Financial Economics of Entrepreneurship, Private Equity and Venture Capital
This course is supported by the OP Group Research Foundation
Time: 27.-31.8.2024
Place: Aalto University School of Business, Otaniemi, Espoo
Registrations: The deadline for registrations is August 11, 2024. See registration/application details at the bottom of the page.
Teaching: Professor David Robinson (Fuqua School of Business, Duke University)
NFN Travel Grant: NFN offers Travel Grants for attending PhD students in finance coming from Nordic institutions outside of Finland. To apply for the Travel Grant, please use the below form and send it to nfn (at) aalto.fi.
Lectures: 20 h of lectures (20 x 45 minutes)
| DAY | DATE | TIME | PLACE (Otaniemi Campus Map) |
| Tuesday | 27.8.2024 | 12:15 – 13:45 & 15:15-16:45 | F102, Väre (Otaniementie 14) |
| Wednesday | 28.8.2024 | 10:30 – 12 & 13:30 – 15 | F102, Väre (Otaniementie 14) |
| Thursday | 29.8.2024 | 10:30 – 12 & 13:30 – 15 | F102, Väre (Otaniementie 14) |
| Friday | 30.8.2024 | 10:30 – 12 & 13:30 – 15 | F102, Väre (Otaniementie 14) |
| Saturday | 31.8.2024 | 9 – 10:30 & 11 – 12:30 | V001, Ekonominaukio 1 |
Course objective: This course is designed to provide a deep, fast-paced dive into the emerging field of entrepreneurial finance. We will cover both classic papers as well as new work. The ultimate objective of the course is to prepare advanced graduate students for research in this rapidly growing sector.
The course will approach the topic of entrepreneurship from two perspectives: labor and capital. On the labor side, we will explore the economics behind the decision to eschew standard wage-earning employment and instead “go out on one’s own,” either by starting a business that employees other people or merely working for oneself. On the capital side, because startups of all types often require lots of financial capital, we study venture capital, private equity and other forms of financing in greater detail.
Another way of thinking about the course structure is in terms of the supply and the demand for entrepreneurial capital. Who demands entrepreneurial capital except for the people starting new firms? We cover this side of the market in the first part of the course. Banks, venture capital organizations, and angel firms form the supply of entrepreneurial capital. Then we cover this side of the market in the second part of the course.
Course outline:
Day 1: Towards a theory of entrepreneurial finance
Day 2: Behavioral economics and the returns to self-employment
Day 3: Venture Capital and Private Equity: Contracts and Individual Performance
Day 4: Venture Capital and Private Equity: Sector Performance
Day 5: New Questions in Entrepreneurial Finance
Course materials: The course materials will be distributed to the participants directly.
Credit units: 6 ECTS cr.
List of participants:
Participants: Doctoral students in finance. The course is also open for KATAJA as well as FDPE and Helsinki GSE students with sufficient background in finance and/or economics. The course is also open for foreign doctoral students given that there is space in the course.
Examinations
Grading: Term paper. The total points of this course are 100. In order to pass the course one needs at least 50% of points (i.e. 50 points).
Term paper deadline: Tuesday, October 15, 2024. Please return the term paper to GSF coordinator via email at reetta.ali-alha (@) aalto.fi. Please respect the deadline promptly.
Registration/Application
- Doctoral students of GSF, FDPE and Helsinki GSE: Please register through this link.
- Doctoral students in related fields and doctoral students at foreign universities: Application form can be found below (both in PDF and Word format). In addition to the application form, please also send a report on the status of your doctoral studies, and a brief CV. Please also ask your thesis advisor to send us a short letter of recommendation by-email. All the required documents should be sent by e-mail to gsf@aalto.fi. All applicants will be informed of their acceptance soon after the registration deadline.