32980 - History of Business Finance

Learning outcomes

This course examines the techniques of corporate finance in an historical perspective. Special consideration will be given to the complex interplay of credit systems, economic development and financial institutions.

At the end of the course students will be able to:

-          place in historical perspective the main themes in financial theory;

-          identify institutional factors influencing the choice between different form of corporate finance;

-          understand the origin of modern financial system.

Course contents

1. Finance in pre-industrial companies

2. Joint-stock companies and the industrial revolution

3. Managerial capitalism and capital markets

4. Financial intermediaries oriented economic systems: German, Japan and France.

5. Corporate finance and banks in Italy

Readings/Bibliography

In order to pass the examination knowledge of the following textbook is required:

M. Fornasari, Finanza d'impresa e sistemi finanziari. Un profilo storico , Torino, Giappichelli 2008.

L. Allen, Il sistema finanziario globale. Dal 1750 ad oggi , Milano, Bruno Mondadori, 2002;

J. Barron Baskin - P. J. Miranti JR., Storia della finanza d'impresa, Bari-Roma, Laterza, 2000 (pp. 7-29 e 289-299)

E. Chancellor, Un mondo di bolle, La speculazione finanziaria dalle origini alla "new economy”, Roma, Carocci, 2000

V. Comito, Storia della finanza d'impresa, vol. I, Torino, UTET, 2002 (pp. 9-36)

P.-C. Hautcoeur, Cash or account. A Plea for a Comparative History for European Financial System, in «Contemporary European History», 12 (2003) (http://www.pse.ens.fr/hautcoeur/CEH_Review_essay.pdf)

Teaching methods

Frontal lessons with aid of projection of diapositive

Assessment methods

Written exam

Office hours

See the website of Massimo Fornasari