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CODE 83911
ACADEMIC YEAR 2021/2022
CREDITS
SCIENTIFIC DISCIPLINARY SECTOR SECS-P/08
TEACHING LOCATION
  • GENOVA
SEMESTER 2° Semester
PREREQUISITES
Propedeuticità in ingresso
Per sostenere l'esame di questo insegnamento è necessario aver sostenuto i seguenti esami:
  • Maritime, Logistics and Transport Economics and Business 8698 (coorte 2019/2020)
  • BUSINESS ADMINISTRATION 41125 2019
TEACHING MATERIALS AULAWEB

OVERVIEW

The course introduces the main concepts related to strategic decisions in investments and methods of covering the related financial needs of companies operating in the logistics and transport sector. The course provides management knowledge useful for strategic decisions relating to investments and financing in these sectors which are highly capital intensive.

AIMS AND CONTENT

LEARNING OUTCOMES

The course, paving on a managerial approach, aims to analyse the role of the finance function in the transport enterprises domain. The course focuses on main theoretical concepts and perspectives related to investment and financial decisions, financial planning and risk management. Moreover, the course examines in-depth the most salient managerial tools for managing and supervising financial activities in shipping firms, in the port domain, in the air and rail transport sectors as well as in the cruise industry.

TEACHING METHODS

Lectures, case studies and seminars.

SYLLABUS/CONTENT

The programme of the course includes the following issues:

PART I – GENERAL

  • The evolution of the “Finance” Department: responsibilities and tasks
  • Finance as a tool for supporting strategic decisions in firms: investments; evaluation process, financial criteria for evaluating business decisions (Net Present Value – NPV; Internal Rate of Return – IRR; pay back period – PBP).
  • Decisions related to finance and funding: capital structure, financial leverage, financial needs, investment analysis, etc.
  • Programming and controlling financial cash flows: the role of financial and managerial tools.
  • Risk management: risk categories, main source of risks for firms, financial derivatives for hedging (forward contracts; futures; options; swap contracts).

PARTE II – EMPIRICAL APPLICATIONS

  • Investment decisions and cash flow analysis in the shipping sector
  • Shipping finance
  • Financial and investment decisions for logistics and transport infrastructures (ports, airports, rail stations, logistics centres, highways, etc.), with particular emphasis on: the strategic, managerial and governance settings related to public-private partnerships; alternative source for funding and subsidies.
  • Financial management for airline companies.
  • Airline companies and risk management: exposure towards exchange rate risks and fuel price shifts.
  • Financial dimensions related to the management of railways (infrastructures and services).

RECOMMENDED READING/BIBLIOGRAPHY

For the First Part of the course the recommended textbook is:

  • Brealey R.A., Myers S.C., Allen F., 2013, Principles of Corporate Finance, Eleventh Global Edition, McGraw-Hill Education, London (UK). (Please, contact the instructor for the list of the selected Chapters).

For the Second Part of the course the recommended textbook are:

  • Stopford M., 2009, Maritime Economics, Third Edition, Routledge, New York. (Chapters 6 and 7)
  • Morrell P.S., 2001, Airline Finance, Second Edition, Ashgate Publishing, Aldershot (UK). (Chapters 7, 8 and 9)
  • Selected resources provided by the instructor on Aulaweb.

TEACHERS AND EXAM BOARD

Exam Board

GIOVANNI SATTA (President)

GIAN ENZO DUCI

CIDATMA-FRANCESCO VITELLARO

LESSONS

LESSONS START

Sem: II

EXAMS

EXAM DESCRIPTION

Written exam with open-ended questions.

ASSESSMENT METHODS

The exam aims to assess the awareness and the know-how of the student concerning main issues related to financial and investment decisions in logistics and transport sector, predominantly assuming a private perspective.

Also the knowledge and core competences developed by the student with regards managerial tools for managing port-related and shipping companies, airlines and railway companies as well as firms operating in the cruise industry along with a strategic and financial perspective will be evaluated.

The exam, therefore will include both semi-structured open questions and fixed questions. 

Exam schedule

Data appello Orario Luogo Degree type Note
18/01/2022 09:30 GENOVA Scritto
01/02/2022 09:30 GENOVA Scritto
11/05/2022 09:30 GENOVA Scritto
15/06/2022 09:30 GENOVA Scritto
29/06/2022 09:30 GENOVA Scritto
12/07/2022 09:30 GENOVA Scritto
07/09/2022 09:30 GENOVA Scritto

FURTHER INFORMATION

Preparatory courses

  • Economia Aziendale