48144 - CORPORATE FINANCE

Scheda insegnamento

SDGs

L'insegnamento contribuisce al perseguimento degli Obiettivi di Sviluppo Sostenibile dell'Agenda 2030 dell'ONU.

Lavoro dignitoso e crescita economica

Anno Accademico 2021/2022

Conoscenze e abilità da conseguire

The aim of this course is to provide the students with a set of analytical tools and techniques useful to explore the most relevant important investment and financing decisions taken by firms at different stages of their life cycle. At the end of the course students are able to: (a) select the best business investment strategies a firm should undertake; (b) calculate and interpret the company’s cost of capital; (c) identify the main financing sources available to companies.

Contenuti

Module I

- The role of corporate finance in corporations

- Maximization of shareholder value as a company objective

- Financial analysis and financial planning

- Principles of mathematical finance

- Evaluation of bonds and shares

- Investment assessment methods

- Risk – return relationship

Module II

- Estimation of the opportunity cost of capital through the Capital Asset Pricing Model

- Financing decisions

- Risk capital financing: venture capital and IPO

- Seasoned equity offerings

- Dividend policy

Testi/Bibliografia

Module I - Module II: Lecture notes. The notes will be available on the platform “virtuale.unibo.it".

R. Brealey, S. Myers, and F. Allen. Principles of Corporate Finance, McGraw Hill, 2019. Chapters 1-9, 12-19, 28. As attending the course is not mandatory, there is no difference between attending students and not attending students.

Module I (Program for the first partial exam): Chapters 1-7, 28.

Module II (Program for the second partial exam): Chapters 8-9 and 12-19.

Metodi didattici

The program will be presented in-depth in class. Theoretical and practical lessons will be provided. Practical lessons (4 for each module) will be based on the resolution of exercises and the presentation of corporate case studies.

Modalità di verifica e valutazione dell'apprendimento

Valuation is based on a written exam through the EOL platform (on line exam).

The partial exam (the first one usually set at the end of October/beginning of November, the second one in January) is based on 6 Multiple Choice Questions (12 points) and 1 exercise (10 points). The partial exam lasts 38 minutes. It is possible to access to the second partial exam with a minimum score of 10 in the first partial exam.

The total exam is composed of 12 Multiple Choice Questions and 2 exercises that is 6 Multiple Choice Questions and 1 exercise for each module. The total exam lasts 76 minutes. The weight of the mark obtained in each module is 50%.

Concerning both the partial exam and the total exam, the correct answer to a Multiple Choice Question gives 2 points. There is no penalty for the wrong answer and there is only one correct answer. The exercise has a value of up to 10 points. The final mark, expressed in the thirties, will be calculated as (Mark/44*31)

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.

Students are not allowed to use notes or books.

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

The course will be taught during the first semester. While the first two calls will be set during the winter period (January-February), the third and the fourth call will be set in June and in September respectively. The second partial exam and the first total exam take place on the same day.

PLEASE NOTE: The assessment methods indicated may change based on the evolution of the health emergency.

Strumenti a supporto della didattica

The teaching tools are the projector and the blackboard.

Orario di ricevimento

Consulta il sito web di Barbara Petracci

Consulta il sito web di Massimiliano Marzo