CODE 103987 ACADEMIC YEAR 2022/2023 CREDITS 6 cfu anno 3 DIRITTO ED ECONOMIA DELLE IMPRESE 11122 (L-18) - LA SPEZIA 6 cfu anno 3 DIRITTO ED ECONOMIA DELLE IMPRESE 11122 (L-14) - LA SPEZIA SCIENTIFIC DISCIPLINARY SECTOR SECS-P/09 LANGUAGE Italian TEACHING LOCATION LA SPEZIA SEMESTER 1° Semester PREREQUISITES Propedeuticità in ingresso Per sostenere l'esame di questo insegnamento è necessario aver sostenuto i seguenti esami: LAW AND BUSINESS ADMINISTRATION 11122 (coorte 2020/2021) BUSINESS ECONOMY 103971 2020 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 LAURA NIERI Ricevimento: Office hours are published on Aulaweb course page at the beginning of the course For other hours please contact the teacher via email. Always check Aulaweb news for update and changes FRANCESCA QUERCI Ricevimento: GENOVA During the first semester, students can meet the teacher on Thursday at 9:30 AM at DIEC. Please, always check Aulaweb news for updates and changes. LA SPEZIA During the Course: at the end of the morning lesson. Otherwise: on Teams, asking a meeting with the teacher. Exam Board LAURA NIERI (President) FRANCESCA QUERCI (President Substitute) LESSONS LESSONS START Lessons start in the firts semester on September 20 Class schedule The timetable for this course is available here: Portale EasyAcademy EXAMS Exam schedule Data appello Orario Luogo Degree type Note 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