Corporate Finance
A.Y. 2025/2026
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 can be attended as a single course.
Course syllabus and organization
Single session
Responsible
Lesson period
Second trimester
Course syllabus
Understanding the context: how the financial system is evolving
How to interpret financial balances
Corporate finance and financial markets
Corporate governance
Financial statement analysis, reclassifications, the statement of cash flows and cash flows
Present value and cash flows
NPV and alternative decision criteria
Investment decisions
Bond valuation
Sustainable finance
Financing through bonds
Equity valuation
Market efficiency
Long-term debt and capital structure: fundamental principles
Risk and return
Capital Asset Pricing Model (CAPM)
Factor models and Arbitrage Pricing Theory (APT)
Risk and cost of capital
How to interpret financial balances
Corporate finance and financial markets
Corporate governance
Financial statement analysis, reclassifications, the statement of cash flows and cash flows
Present value and cash flows
NPV and alternative decision criteria
Investment decisions
Bond valuation
Sustainable finance
Financing through bonds
Equity valuation
Market efficiency
Long-term debt and capital structure: fundamental principles
Risk and return
Capital Asset Pricing Model (CAPM)
Factor models and Arbitrage Pricing Theory (APT)
Risk and cost of capital
Prerequisites for admission
There are no prerequisites
Teaching methods
Lectures
Case analyses
Simulations
Guest talks by qualified industry experts
A group assignment, presented and discussed in class by the students. The group work aims to carry out the financial analysis of a company included in the FTSE Italia STAR index.
Case analyses
Simulations
Guest talks by qualified industry experts
A group assignment, presented and discussed in class by the students. The group work aims to carry out the financial analysis of a company included in the FTSE Italia STAR index.
Teaching Resources
- Materials used in class will be made available on the Ariel platform after the lectures.
- Hillier D., Ross S.A., Westerfield R.W., Jaffe J., Jordan B.D., Corporate Finance, 4th edition, Italian edition edited by Frova S. and Conti C., McGraw-Hill, 2022, excluding: sec. 7.3, ch. 8, ch. 16, secs. 15.5 and 15.6, ch. 17, ch. 18
- Hillier D., Ross S.A., Westerfield R.W., Jaffe J., Jordan B.D., Corporate Finance, 4th edition, Italian edition edited by Frova S. and Conti C., McGraw-Hill, 2022, excluding: sec. 7.3, ch. 8, ch. 16, secs. 15.5 and 15.6, ch. 17, ch. 18
Assessment methods and Criteria
The exam is written and consists of 6 questions, each worth a maximum of 5 points. The duration of the exam is 1 hour.
For attending students, an optional assignment is available. If accepted, the assignment grade accounts for 20% of the overall score
For attending students, an optional assignment is available. If accepted, the assignment grade accounts for 20% of the overall score
SECS-P/09 - CORPORATE FINANCE - University credits: 9
Lessons: 60 hours
Professor:
Musile Tanzi Paola
Professor(s)
Reception:
Monday 10am-1pm
Via Passione, 13 20122 Milano