71860 - Entrepreneurial Finance and Venture Capital (6 Ects)

Learning outcomes

The aim of the course is to describe the organizational process of a start-up and the financial consequences related to its growth. At the end of the course the student is able to: - critically analyze business projects from the perspective of the economic and financial feasibility; - understand the risk profile from the entrepreneur's perspective - analyze and evaluate different business initiatives, defining the corresponding financing needs.

Course contents

Introduction to entrepreneurial finance

Finance and the entrepreneur: what makes entrepreneurial finance different from corporate finance?

The paradigm of maximum value for the entrepreneur

The business plan: your calling card through the future

Developing business strategy using simulation

Valuation methods comparison: risk-adjusted discount rate method, certainty equivalent method, reconciliation with the pricing of options

Valuation in practice: the investor’s and the entrepreneur’s perspectives

Contracts and agreements with the financers

 

Readings/Bibliography

Reading material will be distributed during the course.

Teaching methods

Lectures

Practical exercises

Case studies

Assessment methods

Valuation is based on a written exam.

Office hours

See the website of Massimo Spisni