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BUSINESS FINANCE

CODE 103987
ACADEMIC YEAR 2022/2023
CREDITS
  • 6 cfu during the 3nd year of 11122 DIRITTO ED ECONOMIA DELLE IMPRESE(L-18) - LA SPEZIA
  • 6 cfu during the 3nd year of 11122 DIRITTO ED ECONOMIA DELLE IMPRESE(L-14) - LA SPEZIA
  • SCIENTIFIC DISCIPLINARY SECTOR SECS-P/09
    LANGUAGE Italian
    TEACHING LOCATION
  • LA SPEZIA
  • SEMESTER 1° Semester
    PREREQUISITES
    Prerequisites
    You can take the exam for this unit if you passed the following exam(s):
    • LAW AND BUSINESS ADMINISTRATION 11122 (coorte 2020/2021)
    • BUSINESS ECONOMY 103971
    TEACHING MATERIALS AULAWEB

    OVERVIEW

    Corporate Finance is about companies, investors, and their interaction in financial markets. Essentially, companies make decisions (how to raise capital, how to invest that capital, …) and investors react to those decisions by bidding the company’s stock and bond prices up or down. During this course we will look at this interaction from the point of view of both companies and investors, with a special emphasis on companies.

    AIMS AND CONTENT

    LEARNING OUTCOMES

    The course introduces the students to the principles of corporate finance. By combining a rigorous theoretical approach with a more practical approach, the course focuses on two main issues, i.e. investment evaluation and capital budgeting, and firm financial structure and financing decisions.

    AIMS AND LEARNING OUTCOMES

    After studying this course, students should be able to:

    • identify the key themes in corporate finance

    • explain the role of finance in an organisation

    • analyse the relationship between strategic decision making and corporate financing decisions

    • understand wihch techniques can be used to evaluate a project 

    • calculate cost of equity and the cost of cpitale

    • understand the main financing sources and instruments

    • understand the drivers of financing decisions.

    PREREQUISITES

    Students attending this course are required to have a thorough understanding of Business administration.

    They should also have a good knowledge of Financial mathematics and Accounting

    TEACHING METHODS

    The course entails different teaching methods such as Lectures, Case Studies, Seminars and Workshop with Professionals, Assignments using Aulaweb platform, Auto evaluation tests.

    In consideration of the COVID-19 emergency, if restrictions are introduced and traditional face-to-face classrooms teaching is not be possible, blended learning methods will be adopted. More details will be provided to the students at the beginning of the semester via AulaWeb.

    SYLLABUS/CONTENT

    Parte I - Investment Project Evaluation

    • The Time Value of Money and Interest Rates;
    • Investment Decision Rules
    • Fundamentals of Capital Budgeting
    • Valuing 

    Parte II- Cost of Equity

    • Capital Markets and the Pricing of Risk
    •  Optimal Portfolio Choice and the Capital Asset Pricing Model
    • Estimating the Cost of Capital

    Parte III - CAPITAL STRUCTURE

    • Capital Structure in a Perfect Market
    • Debt and Taxes

    RECOMMENDED READING/BIBLIOGRAPHY

    Main textbook

    • S. Ross, D. Hillier, R. Westerfield, J. Jaffe, B. Jordan, “Corporate Finance” 2/ed, McGraw Hill, 2015.

    Alternatively or in addition:

    • R. A. Brealey, S. C. Myers, F. Allen, S. Hill, “Principi di Finanza Aziendale”, McGraw Hill , 2015
    • J. Berk, P. DeMarzo, “Finanza aziendale 1”, Pearson,  2011 (3° edition)

    TEACHERS AND EXAM BOARD

    Exam Board

    LAURA NIERI (President)

    FRANCESCA QUERCI (President Substitute)

    LESSONS

    LESSONS START

    Lessons start in the firts semester on September 20

    Class schedule

    All class schedules are posted on the EasyAcademy portal.

    EXAMS

    Exam schedule

    Date Time Location Type Notes
    13/12/2022 11:00 LA SPEZIA Scritto
    10/01/2023 11:00 LA SPEZIA Scritto
    24/01/2023 11:00 LA SPEZIA Scritto
    30/05/2023 11:00 LA SPEZIA Scritto
    13/06/2023 11:00 LA SPEZIA Scritto
    27/06/2023 11:00 LA SPEZIA Scritto
    11/07/2023 11:00 LA SPEZIA Scritto
    12/09/2023 11:00 LA SPEZIA Scritto