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Behavioral Corporate Finance

Traditional corporate finance assumes that managers and investors are rational and that capital markets are efficient. This is, however, often not the case. The behavioral approach to corporate finance relies on evidence from psychology and sociology of cognitive biases, heuristics, emotions, moods, framing effects, affect, social interaction (trust and fairness) etc. Behavioral Corporate Finance complements the traditional corporate finance models and provides the bridge – fills the gap - between the standard corporate finance textbook and empirical observations from the real business world.  

Find full course description in the course catalogue.    


The grade for the course consists of two parts:

  • Coursework counting app. 30 %
  • 3-hour written exam counting app. 70 %

The written exam is online and presence in Aarhus is not nescessary.

Admission Requirements

Course specific:

A Bachelor's degree in Economics and Business Administration or a related degree.


Exchange students: nomination from your home university

Freemovers: documentation for English Langauge proficiency

You can read more about admission here


Tom Aabo

Associate professor