87581 - ECONOMIA DEI MERCATI MOBILIARI INTERNAZIONALI

Course Unit Page

Academic Year 2019/2020

Learning outcomes

The course gives the instruments to understand pricing and to act on international financial markets, with particular reference to market risks and pricing puzzles. The course will analyze several aspects of the pricing of financial instruments on several international financial markets.

Course contents

The course embraces several issues related to pricing and mispricing on international financial markets, like (but not limited to):
CAPM and Factor Models (APT), IPO underpricing, M&A market valuation, Market Risk Disclosure effects, Financial Literacy and Advisory, Liquidity.

Readings/Bibliography

The Course References are entirely made of scientific literature related to the issues the course will cover.
The bibliographic references will be distributed by the teacher during the course and they will be freely downloadable by the students of Unibo.

Teaching methods

The course will be held in the computer laboratory, where the teacher, after the relevant theorical foundations of the course's elected issues, will follow the students in empirical studies related to the issues covered by the course itself.
Moreover, during the course students are expected to present a paper assigned to each group and after the presentation there will be a discussion with the rest of the class.

Assessment methods

During the attendance of the course: Group and/or personal assignment.
During the official exam sessions: analysis of a dataset in excel and two essays on the literature indicated on Campus website ("Letteratura IPO" e "Letteratura M&A", restricted access to the course's mailing list recipients, ask the teacher for the password), which comprises over 40 papers on the 2 subjects. The essays, of up to 10 pages each, should synthetize the topics presented in the papers (which can also be integrated by the student) and will be discussed in an oral exam during the regular sessions or during the office hours (by appointment). The Excel work should be defined with the professor during his office hours.

Teaching tools

Slides, computer software: Excel, Stata, Kahoot!.

Office hours

See the website of Fabrizio Palmucci