Corporate Finance
A.Y. 2021/2022
Learning objectives
The course addresses and deepens the fundamental themes of corporate and project finance through the study of the main theoretical models and the discussion of cases.
The aim of the course is to provide students with the tools to understand the main theoretical models and to develop problem solving skills by examining their main business applications that refer to domestic contexts, as well as international projects.
The course addresses the following main topics: objectives, functions and tools for corporate finance, evaluating investment projects, evaluating bonds and equities, risk analysis and pricing of financial assets, determining the cost of capital and the optimal financial structure.
The aim of the course is to provide students with the tools to understand the main theoretical models and to develop problem solving skills by examining their main business applications that refer to domestic contexts, as well as international projects.
The course addresses the following main topics: objectives, functions and tools for corporate finance, evaluating investment projects, evaluating bonds and equities, risk analysis and pricing of financial assets, determining the cost of capital and the optimal financial structure.
Expected learning outcomes
The aim of the course is to allow students to set up and resolve financial assessment cases with appropriate methodologies, data recollection capabilities, formulation - if needed - of hypotheses and discussion of results.
Lesson period: Second trimester
Assessment methods: Esame
Assessment result: voto verbalizzato in trentesimi
Single course
This course cannot be attended as a single course. Please check our list of single courses to find the ones available for enrolment.
Course syllabus and organization
Single session
Lesson period
Second trimester
Lectures will be delivered according to the instructions of the University and the Department in force at the beginning of the course on Wednesday, January 12, 2022
Course syllabus
- Types of firms and corporate governance issues
- Financial statement analysis
- Value and time: compounding, discounting, present value, special cash flows
- Interest rates: aspects, determinants, applications
- Bonds
- Risk and return; measuring risk
- Diversification, portfolios, the CAPM and the cost of capital
- Investment selection criteria
- Capital budgeting and the analysis of investment projects
- The optimum capital structure and the effects of taxation
- Debt, managerial incentives and information
- Capital budgeting with debt
- Dividends policy
- Notions on the management of risk in business activity
- Financial statement analysis
- Value and time: compounding, discounting, present value, special cash flows
- Interest rates: aspects, determinants, applications
- Bonds
- Risk and return; measuring risk
- Diversification, portfolios, the CAPM and the cost of capital
- Investment selection criteria
- Capital budgeting and the analysis of investment projects
- The optimum capital structure and the effects of taxation
- Debt, managerial incentives and information
- Capital budgeting with debt
- Dividends policy
- Notions on the management of risk in business activity
Prerequisites for admission
Notions of Business Administration and macroeconomics
Teaching methods
Classroom lectures accompanied by the projection of PowerPoint slides that will be made available to students following each lecture.
Discussion of cases and exercises.
Illustration of corporate finance issues taken from the press and other sources
Discussion of cases and exercises.
Illustration of corporate finance issues taken from the press and other sources
Teaching Resources
Jonathan Berk and Peter DeMarzo: Finanza Aziendale 1, 4ª edizione, Pearson
Various readings made available in Ariel as we go along
Various readings made available in Ariel as we go along
Assessment methods and Criteria
Written exams with questions and computations similar to those that can be found at the end of each chapter of the textbook and to classroom exercises
Unità didattica 1
SECS-P/09 - CORPORATE FINANCE - University credits: 3
Lessons: 20 hours
Unità didattica 2
SECS-P/09 - CORPORATE FINANCE - University credits: 3
Lessons: 20 hours
Unità didattica 3
SECS-P/09 - CORPORATE FINANCE - University credits: 3
Lessons: 20 hours