Corporate Transformation Management PT
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Financial Optimization

level of course unit

3rd semester Master: 1st Study cycle

Learning outcomes of course unit

The students:
• are able to apply basic and structured financing tools to problems
• can calculate and interpret selected financial ratios from the analysis of annual financial statements
• know different financial restructuring tools
• know special forms of restructuring financing and can distinguish them from classical financing instruments
• know financial restructuring measures in the field of equity capital

prerequisites and co-requisites

3rd semester Master: no details

course contents

I. Fundamentals of Corporate Finance

II. Fundamentals of Restructuring Financing

III. Financial restructuring measures in the area of debt capital
• Waiver of loan termination
• Standstill agreement
• Conversion of existing liabilities
- Declaration of subordination, debt-equity swap
• Reduction or waiver of existing liabilities
- Waiver of claims
• Injection of new debt capital
- Restructuring loan

IV. Special forms of restructuring financing (mezzanine loan incl. participating loan, typical and atypical dormant part-nership, debtor-in-possession capital, profit participation rights, convertible bonds)

V. Other financial restructuring measures
• Book-based equity restructuring
• Subsidies and capital increases
• Shareholder loans
• Turnaround equity Financial restructuring measures in the area of assets (sale of non-operating assets; factoring & forfeiting)

recommended or required reading

Exler, M. & Situm, M. Hrsg. (2019) Restrukturierungs- und Turnaround-Management, Berlin.
Hohberger, S. & Damlachi, H. Hrsg. (2019) Praxishandbuch Sanierung im Mittelstand, Heidelberg.
Hohendanner, A. & Schreiner, E. (2015) Unternehmenssanierung, Restrukturierung und Fortbestehensprognose, Wien.
von Leoprechting, G. (2018) Unternehmenssanierung, Herne.
Mittendorfer, R. (2007), Praxishandbuch Akquisitionsfinanzierung – Erfolgsfaktoren fremdfinanzierter Unternehmensübernahmen, Heidelberg.
Rüsen, T. A. (2017) Krisen und Krisenmanagement in Familienunternehmen: Schwachstellen erkennen, Lösungen erarbeiten, Existenzbedrohungen meistern, Wiesbaden.

assessment methods and criteria

• Module Exam (Financial Optimization, Performance Optimization)
• Online Questions

language of instruction


number of ECTS credits allocated


eLearning quota in percent


course-hours-per-week (chw)


planned learning activities and teaching methods

• Blended Learning

semester/trimester when the course unit is delivered


name of lecturer(s)

Nina Dohrau

year of study


recommended optional program components


course unit code


type of course unit

integrated lecture

mode of delivery


work placement(s)



Situm Mario
Prof. (FH) DDr. Mario Situm, MBA
Director of Studies
+43 5372 71819 147
questions -  Any
Any questions -
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+43 5372 71819 500

Internationales Symposium Restrukturierung

Jährlich findet das „Internationale Symposium Restrukturierung“ an der Fachhochschule Kufstein Tirol statt.

Restrukturierungs- und Turnaround-Management

Handbuch für die Praxis:
Restrukturierungs- und Turnaround-Management, 2. Auflage, Exler (Hrsg.)

Mehr Infos:

Restrukturierungs-Qualitätssiegel für Kufsteiner Masterstudiengang

Der berufsbegleitende Masterstudiengang Unternehmensrestrukturierung & -sanierung ist nach einjähriger Begutachtung offiziell TMA-zertifiziert – das renommierte Qualitätssiegel des Verbandes der deutschen Restrukturierungsexperten (TMA).

Weitere Informationen