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The course aims to give students the capacity to understand the theory and the principles of corporate finance and to provide students with a set of operative tools to apply in the business industry, with special focuses on selected corporate finance topics. After completing the course, students will be familiar with the methodologies and tools for financial planning and financial risk management for international firms and for specialized firms in the field of real estate and shipping
The course is divided into four parts. The first one is dedicated to corporate risk management. The second part deals with real estate finance. The third part of the course focuses on financial management for multinational enterprises, and it presents a focus on the special topic of shipping finance. The fourth part focuses on valuation of stocks and bonds.
First part:
Corporate risk management: Risks measurement and evaluation; Risk measures application; Organization of the risk management function
Second part:
Real estate appraisal, Index construction, Return and risk of real estate
Third part:
Fund raising for multinational companies, Financial risk management for multinational companies, Shipping finance
Fourth part:
DCF, Relative valuation, Real options, Valuation of Bonds
For students attending the Accounting, Accountability and Governance Master Program (910020-ENG (6 CFU), contents are limited to the first, second and fourth parts
Berck J., DeMarzo P. (2017), Corporate Finance, Global Edition, Pearson Education, Harlow
Brealey R., Myers S., Allen F. (2017), Principles of Corporate Finance, McGraw Hill, 12th edition
Eun and Rensik (2018) International Financial Management, McGraw Hill, 8th edition
Geltner D.M (2007), Commercial Real Estate Analysis and Investments, CENGAGE Learning, Mason
Myint S., Famery F. (2012),The Handbook of Corporate Financial Risk Management, RiskBooks, Research and Markets, Dublin
Kavussanos M., Visvikis, I.D. (2016), The International Handbook of Shipping Finance, Palgrave Mcmillan UK, Hound mills
Lectures notes and supplementary readings
For students attending 910020-ENG (6 CFU):
Berck J., DeMarzo P. (2017), Corporate Finance, Global Edition, Pearson Education, Harlow
Brealey R., Myers S., Allen F. (2017), Principles of Corporate Finance, McGraw Hill, 12th edition
Geltner D.M (2007), Commercial Real Estate Analysis and Investments, CENGAGE Learning, Mason
Myint S., Famery F. (2012),The Handbook of Corporate Financial Risk Management, RiskBooks, Research and Markets, Dublin
Lectures notes and supplementary readings
Lectures represent 60% of teaching, while the other methods are represented by work group presentations, case presentations and discussions, Computer lab simulations (overall, 40%)
Final written test. The duration of the written test is up to 2 hours and students are asked to answer up to 8 questions (a percentage of maximum 50% is represented by open questions and a percentage of maximum 50% is represented by exercises). Each question receives a maximum score of 5 points.
To verify the achievement of the Learning objectives of the course, the test requires that the student is able to argue on the use of financial instruments and solve business problems and cases. These criteria are adopted to score the answers
Erasmus students can select the different topics of the Course.
VALUATION FOR STUDENTS ATTENDING THE CLASSES
Attendance and class participation, Group works, Final written individual test.