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48144 - Corporate Finance

Academic Year 2018/2019

                
                        Docente:
                        Barbara Petracci
                    
                        Credits:
                        6
                    
                        SSD:
                        SECS-P/09
                    
                        Language:
                        English
                    
                        Teaching Mode:
                        Traditional lectures
                        
                            Campus:
                            Rimini
                        
                            Corso:
                            Second cycle degree programme (LM) in
                            Business Administration and Management (cod. 8842)

                            Teaching resources on Virtuale

Learning outcomes

The aim of the course is to provide the tools to evaluate companies and industrial projects. At the end of the course the student is able to: - apply the main financial and relative methods of business valuation; - analyze the most frequently used financial instruments in business valuations; - understand the different business strategies and their impact on value.

Course contents

Theoretical framework

Approaches and methods of valuation

Discounted Cash Flow (DCF) method: typical procedures

Estimating cash flows

Estimating the cost of capital

Estimating the growth rate

Relative valuation: theoretical framework and practical issues

Readings/Bibliography

- Lecture slides and notes. Slides will be available on the platform “Insegnamenti on line”.

Damodaran on Valuation: Security Analysis for Investment and Corporate Finance, Second Edition. Chapters: 1, 2, 4, 5, 7, 8 and 9.

Principles of Corporate Finance, R. Brealey, S. Myers and F. Allen, 2014.

Chapter: 9

Teaching methods

The program of the course will be presented in-depth in class. Theoretical and practical classes will be provided. Practical classes (n.2) will be based on the resolution of exercises and on the presentation of corporate case studies.

Assessment methods

Valuation is based on a written exam.

The exam is based on 11 Multiple Choices and 1 exercise OR 1 open question. The exam lasts 40 minutes.

The correct answer to a Multiple Choice gives 2 points. There is no penalty for the wrong answer and there is only one correct answer. The exercise/open question has a value up to 10 points.

Students are not allowed to use notes or books.

A list of the most important formulas is provided within the exam text.

The final mark is expressed in thirties.

The course will be taught during the first semester. While the first two calls will be set during the winter period (January-February) and the last one in September.

Teaching tools

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

Office hours

See the website of Barbara Petracci