Corporate finance (2019/2020)

Course code
4S00495
Name of lecturers
Giuseppina Chesini, Massimo Lumiera
Coordinator
Giuseppina Chesini
Number of ECTS credits allocated
9
Academic sector
SECS-P/09 - CORPORATE FINANCE
Language of instruction
Italian
Period
First semester bachelor degree dal Sep 16, 2019 al Jan 10, 2020.

Lesson timetable

Go to lesson schedule

Learning outcomes

In the first part the course aims to provide a general overview of the elements making up the financial system, analyzing the structure and characteristics of markets, the business of credit intermediation and brokerage intermediation. In the second part, in the perspective of non financial firms, are analyzed the characteristics of the net present value in the capital budgeting decisions, the choices of financial structure, the financing instruments in the short and medium-long term, the dividend policy, the payment instruments in international trade and the operations of hedging of financial risks (currency risk, interest rate risk and commodity risk); moreover the topics of project finance and patent box are examined during the course.

The teaching methods consist of lectures and examples designed to facilitate the understanding and interpretation of theoretical concepts.

Syllabus

First part

Introduction to financial intermediation.
European Central Bank, monetary policy and interest rates.
Money markets.
Bond markets.
Stock markets.
The banks.
The asset management companies and the mutual funds.
The brokerage securities companies and the investment banks.

Second part

The principles of corporate finance.
The determination of the relevant cash flows and the cost of capital in the net present value.
The decisions of financial structure. The benefits and the costs of borrowing.
The technical forms of medium and long-term financing.
The technical forms of short-term financing.
The dividend policy.
Payment instruments in international trade.
Introduction to Corporate Financial Risk Management.
The project finance.
The patent box.

Reference material
Volume Create for the course “Finanza aziendale” published by McGraw Hill.
Students must also prepare the material loaded on the elearning page of the course.

Reference books
Author Title Publisher Year ISBN Note
Hillier D, Ross S, Westerfield R, Jaffe J, Jordan B Corporate finance (Edizione 2) McGraw-Hill 2013

Assessment methods and criteria

An intermediate test is scheduled in November on the part of the program carried out. The average of the mark in the mid-term test and the mark obtained in one of the two appeals of the winter session will form the final mark.