48144 - CORPORATE FINANCE

Conoscenze e abilità da conseguire

At the end of the course student have a solid understanding of the major variables underlying the investment and financing decision of the firm. After a brief introduction to financial accounting, a particular focus is direct to the common techniques used for corporate valuation such as DCF analysis and multiples.

Contenuti

Corporate Finance (48144) is an advanced corporate finance course with a focus on valuation. It aims to provide students with the theoretical framework of corporate valuation issues and the tools to apply valuation models in practical situations. Topics covered include estimating cash flows, the firm’s opportunity cost of capital, the role of capital structure, relative valuation.

Testi/Bibliografia

The main textbooks of the course are the following.

• Damodaran, A., Investment Valuation: Tools and Techniques for Determining the Value of Any Asset, John Wiley & Sons, 3rd Edition.
• Massari, M., Gianfrate, G., and L. Zanetti, Corporate valuation: Measuring the value of companies in turbulent times. John Wiley & Sons, 2016.

  A case study will be discussed during the last class meeting. The case will be taken from the following textbook.

• Bruner, R.F., Eades, K.M., and M.J. Schill, 2014, Case Studies in Finance, McGraw-Hill/Irwin, 7th Edition.

Additional readings may be assigned by the instructor as the course progresses. Please note that slides used in class are also required. Teaching materials will be available in the “Teaching resources on Virtuale” section, accessible from the course webpage.

Metodi didattici

Traditional lectures, reading of research papers.

Modalità di verifica e valutazione dell'apprendimento

Final class test. – It will include 10 multiple-choice questions (15 points, i.e. 1.5 points each) and 5 short problems (15 points, i.e. 3 points each). The time allowed will be 30 minutes. The test will be delivered online. Technical information and the general directions for the test will be available on “Virtuale” before the exam date.

Case study. – During the last class meeting we will be discussing a valuation case study. You will be asked to actively participate to the class discussion, also preparing a PPT presentation. You will be asked to submit your presentation the day before the last class meeting. This will be a teamwork, and each presentation will be assigned up to 3 points. More precise guidelines for the this class section will be available on “Virtuale” in due course.

Strumenti a supporto della didattica

Lecture slides and additional readings which may be assigned by the instructor as the course progresses.

Orario di ricevimento

Consulta il sito web di Massimiliano Barbi