32980 - History of Business Finance

Learning outcomes

This course examines the techniques of corporate finance in an historical perspective. Special consideration will be given to the complex interplay of credit systems, economic development and financial institutions.

At the end of the course students will be able to:

-          place in historical perspective the main themes in financial theory;

-          identify institutional factors influencing the choice between different form of corporate finance;

-          understand the origin of modern financial system.

Course contents

Part I - Prof. Mauro Carboni

1. Finance in pre-industrial companies

2. Joint-stock companies and the industrial revolution

3. Managerial capitalism and capital markets

Part II - Prof. Massimo Fornasari

4. Financial intermediaries oriented economic systems: German, Japan and France.

5. Corporate finance and banks in Italy

Readings/Bibliography

In order to pass the examination knowledge of the following textbook is required:

M. Fornasari, Finanza d'impresa e sistemi finanziari. Un profilo storico , Torino, Giappichelli 2008.

In addition the reading of at least one of the folllowing books is obligatory:

- E. Chancellor,Un mondo di bolle, La speculazione finanziaria dalle origini alla "new economy”, Roma, Carocci, 2000, pp. 9-37; 183-222; 307-326.

- S. Andriani, L'ascesa della finanza, Roma, Donzelli, 2006, 3-36; 147-216.

- Y. Cassis, Le Capitali della Finanza. Uomini e città protagonisti della storia economica, Milano, Brioschi 2008, 15-20; 89-156; 255-298.

- M. Amato, L. Fantacci, Fine della finanza. Da dove viene la crisi e come si può pensare di uscirne, Roma, Donzelli, 2009, pp. 5-128.

 - N. Ferguson, Ascesa e declino del denaro. Una storia finanziaria del mondo, Milano, Mondadori, 2009

- C. Brambilla, Affari di banche. Banche universali in Italia in prospettiva comparata, 1860-1914, Pisa, Pisa University Press, 2010.

- L. Palermo, La banca e il credito nel Medioevo, Milano, Bruno Mondadori, 2008.

Teaching methods

Frontal lessons with aid of projection of diapositive

Assessment methods

Written exam

Teaching tools

Office hours

See the website of Massimo Fornasari

See the website of Mauro Carboni