75312 - Entrepreneurial Finance

Academic Year 2022/2023

  • Teaching Mode: Traditional lectures
  • Campus: Forli
  • Corso: Second cycle degree programme (LM) in Economics and management (cod. 9203)

Learning outcomes

The course aims to describe the organizational process of a start-up and the financial consequences related to its development. At the end of the course the student will be able to: - critically analyse business projects according to the economic and financial feasibility perspective; - understand the risk profile according to the entrepreneur's perspective; - analyse 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 in practice: the investor’s and the entrepreneur’s perspectives

Contracts and agreements with the financers


Reading material will be distributed during the course. Slides will be available on the platform “Insegnamenti on line”. As attending the course is not mandatory, there is no difference between attending students and not attending students.

Some chapters of: R. Brealey, S. Myers, F. Allen, S. Sandri, Principi di Finanza Aziendale, McGraw Hill Libri Italia, 2015.

Teaching methods

The program of the course will be presented in-depth in class. Theoretical and practical classes will be provided. Practical classes will be based on the resolution of exercises and on the presentation of corporate case studies.

Assessment methods

In accordance with the University's protocols, the exam will be held in presence and in written form. Whoever is unable to take the test in presence can opt for the oral exam through Teams connection.

The exam is based on 15-20 Multiple Choices, 1/2 exercises and/or 1 open question. The total exam lasts 60 minutes.

The Entrepreneurial Finance module belongs to the integrated course “Entrepreneurial Finance and Corporate Banking” also composed by the module “corporate Banking”: The weight of the vote obtained in each module is 50%.

Students are not allowed to use notes or books.

The final mark is expressed in thirties.

The course will be taught during the first semester. Two calls will be set during the winter period (January-February) and the last calls will be set in September. A call will be set in the second half of July on request of at least one student.

Graduation grid of marks:

- 18-23: sufficient preparation and analytical skills on a limited number of topics covered in the course.

- 24-27: adequate preparation and analytical skills but with some limitations; good operational skills, even if not particularly articulated.

- 28-30: very good knowledge of many topics covered in the course; good operational and critical skills.

- 30L: excellent and exhaustive knowledge of the topics covered in the course; critical analysis and connection skills.

Teaching tools

The teaching tools are the projector and the blackboard for exercises.

Office hours

See the website of Massimo Spisni