The course aims to give students the capacity to understand the theory and the principles of finance for corporates and to provide them with a set of operative tools to apply in the enterprise management, with an international perspective. After completing the course, students will be familiar with the methodologies and tools for financial planning and financial risk management for international firms. Moreover, they will be able to interpret management decisions in the financial perspective and the problem solving attitude in a limited financial resources context will be fostered
The course is divided into two parts. The first part covers: fund raising for multinational companies; financial planning for multinational companies; financial risk management for multinational companies. The second part deals with: risk and decision making; optimal capital structure; valuation of stocks; valuation of takeovers and M&A.
Corporate financial function; Financial instruments for multinational companies; Risks measurement and evaluation; Risk measures application
Decision making and risk; Cost of capital; Dividend policy; Valuing of stocks; Valuation of takeovers and M&A.
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
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.
VALUATION FOR STUDENTS NOT ATTENDING THE CLASSES
100% final written test.