75312 - Entrepreneurial Finance

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

Readings/Bibliography

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

Valuation is based on a written exam.

The exam is based on 21 Multiple Choices, 1 exercise of valuation and 1 exercise. 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%.

The correct answer to a Multiple Choice gives 1 point. There is no penalty for the wrong answer and there is only one correct answer. The first exercise has a value up to 3 points and the second exercise has a value up to 7 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. 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.

Teaching tools

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

Office hours

See the website of Massimo Spisni