The course aims to deepen the role of finance for business development. In this regard, the module intends to provide the theoretical and practical foundations for the purpose, for the company, of an effective selection of sources of financing and investments, as well as proper risk management. The problems of capital budgeting and liquidity for the short term and their possible solutions will also be investigated.
Knowledge and understanding: at the end of the course the student will have acquired the knowledge and the ability to understand the main sources of corporate financing, both banking and other, as well as the main quantitative techniques for selecting investments and hedging risks.
· Ability to apply knowledge and understanding: at the end of the course, the student will be able to apply the knowledge and practical skills acquired for the purpose of a) identifying the ideal financial structure; b) the implementation of trend analysis and quotients, ideal for signaling any critical issues and business strengths; c) corporate valuation in the case of extraordinary finance transactions.
· Independent judgment: the student will be able to independently assess the quality of corporate investments, in a medium-long term perspective, as well as suggest any improvement actions to optimize performance.
· Communication skills: the student must be able to use the appropriate technical terminology to communicate and interact with interlocutors who have heterogeneous degrees of knowledge on the topics covered during the course.
· Learning skills: the student must demonstrate that they have acquired the logical-conceptual tools necessary to strengthen their learning ability in the financial field and continue their studies in business analysis.
Formally, no one, although knowledge of the financial statements is banking or corporate, facilitates the understanding.
The contents of the course can be divided into 2 blocks of lessons, the duration of which depends on the degree of preparation of the students and the level of assimilation of the addressed topics. The 2 blocks of lessons have the following articulation and average duration:
First block (duration 24h):
Corporate finance and company objectives; Calculation of the present value and valuation principles of the obligations; Financial analysis; Financial planning; Stock evaluation; Net present value and other investment selection methods.
Second block (duration 24h):
Investment decisions using the net present value method; Introduction to risk and return; Project analysis; Agency problems, manager remuneration and measurement of results; Forms of financing and value of voting rights.
Lectures aimed at improving students' knowledge and understanding. In order to strengthen communication skills and independence of judgment, students are encouraged to participate in the discussion with questions, considerations and reflections.
Exercises aimed at training application and problem solving skills. The exercises mainly focus on the evaluation of investments through simulations and examination of real cases.
Company testimonials from operators in the business consulting sector. In particular, the course will make use of the testimonies of professionals working in the private and corporate banking sector.
Brealey, Myers, Allen, , Principles of Corporate Finance, last Edition, McGraw-Hill.
The final exam consisting of a written test consisting of 2 open-ended questions, 1 exercise and 3 multiple choice questions. The latter are assigned a maximum score of 2 points each. The remaining a maximum score of 8 each. The test lasts 60 minutes. The evaluation criteria refer to the understanding of the topics included in the study program, the ability to synthesize and communicate as well as the use of an appropriate technical language.