48144 - CORPORATE FINANCE

Conoscenze e abilità da conseguire

The aim of the course is to provide the tools to evaluate companies and industrial projects. The first part of the course is asset-side oriented and looks at how business strategy gives rise to financial needs and risk. The second part of the course is liability-side oriented and investigates for the optimal debt/equity ratio and the return for the investors. Overall, the course points out the relevant drivers for company valuation and allows the students 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.

Contenuti

Topics covered in this course include:

- Corporate value creation: project valuation and capital budgeting;

- Firm valuation;

- Cost of capital, measuring risk and return;

- Equity financing (Venture Capital, IPO, SEO);

- Determinants of capital structure decision;

- WACC and APV.

Testi/Bibliografia

Brealey R., Myers S. and F. Allen, Principles of Corporate Finance. Any edition is fine.

The last edition is:

Brealey, R.A., Myers, S.C., Allen F., Edmans, A., 2023, Principles of Corporate Finance, 14/e, McGraw-Hill.

Metodi didattici

Theoretical lectures, applications, exercises and case studies.

Modalità di verifica e valutazione dell'apprendimento

Written exam.

Exams will last 60 minutes. A +1 bonus will be assigned to students turning in the exam within 45 minutes.

Exams will be made of one exercise (20pts) and 5 multiple choice questions (2pt each).

There is no penalty for wrong answers in multiple choices questions.

Orario di ricevimento

Consulta il sito web di Giulia Baschieri