CODE 84087 ACADEMIC YEAR 2024/2025 CREDITS 9 cfu anno 1 AMMINISTRAZIONE, FINANZA E CONTROLLO 8706 (LM-77) - GENOVA SCIENTIFIC DISCIPLINARY SECTOR SECS-P/09 LANGUAGE Italian TEACHING LOCATION GENOVA SEMESTER 2° Semester TEACHING MATERIALS AULAWEB OVERVIEW The course focuses on the advanced topics related to investments and financing decisions, both short- and long-term, the financial planning and risk and crisis management. AIMS AND CONTENT LEARNING OUTCOMES The course aims to provide skills necessary for preparation and management of financial plan, from the perspective of a financial management operator and that of a business consultant, paying attention to recent evolution in financing model of italian SME's. AIMS AND LEARNING OUTCOMES Knowing the objectives of the main firm financial decisions Knowing the impact of ownership and governance structures of financial decisions Learning to estimate the cost of capital of listed and unlisted companies and to evaluate investments Learning how to prepare a financial plan and identify suitable sources to cover any financial need Understanding the concept of risk and knowing the principles, methods and tools of Enterprise Risk Management Learning the main techniques to identify a crisis situation Learning how to use the financial data available in the main databases Improving communication skills, social interactions, strategic thinking and project development PREREQUISITES Students are expected to have acquired, during the bachelor path, knowledge about: capital budgeting techniques cost of capital financial structure decision cash flow determination and analysis They are also advised to have a refresher: S. Ross, D. Hillier, R. Westerfield, J. Jaffe, B. Jordan, “Corporate Finance” 3/ed, McGraw Hill, 2018, capp. 3,6,10,15. TEACHING METHODS Lectures with examples Applications and database use Debate Role playing Project-based learning Project work in group Case Studies, Seminars and Workshop with Professionals Students who have valid certification of physical or learning disabilities and who wish to discuss possible accommodations or other circumstances regarding lectures, coursework and exams, should speak both with the instructor and with Professor Serena Scotto (scotto@economia.unige.it), the Department’s disability liaison. SYLLABUS/CONTENT Corporate Governance, firm value maximization and sustainable goals Relevance of ownership and governance structures Conflicts of interest and self-regulatory codes Stakeholder value maximization Cost of capital and optimal financial structure CAPM applications Alternatives to CAPM Calculating Beta for listed and unlisted companies Marginal investor Behavioral perspective Cost of debt Rating Financial Planning Operating budgets Forecast income statement and balance sheet Fixed capital investments: CAPEX – NPV – project analysis Fixed capital investment plan Inventory, credit and liquidity management Plan of investments in working capital Financial Plan and treasury plan Funding decisions Cash holdings and dividend policy Structure of the financial system and main theories underlying financial structure choices Characteristics of traditional and alternative financing instruments Company’s life cycle and financing decisions Enterprise Risk Management (ERM) Risks classification Objectives and phases of the ERM The CoSO framework (Committee of Sponsoring Organizations of the Treadway Commission) Crisis management Definition of crisis and insolvency The adequate organizational, administrative and accounting structures Premonitory symptoms and preventive and timely diagnosis The sustainability of the debt and the practical test for verifying the reasonable viability of the rehabilitation Recovery plans, restructuring agreements and other out-of-court procedures RECOMMENDED READING/BIBLIOGRAPHY Slides and other materials provided by the lecturer Brealey R., Myers S., Allen F. (2020). Principi di finanza aziendale, 8/edizione, McGrawHill Watson D., Head A., Mantovani G., Rossi E. (2017). Finanza aziendale. Principi e pratica, 7/edizione Pearson Italia Berk J., Demarzo P., Morresi O., Venanzi D. (2018), Finanza Aziendale 2, quarta edizione, Pearson, Milano TEACHERS AND EXAM BOARD ROSALIA SANTULLI Ricevimento: Office hours for students are published on Aulaweb course page Exam Board ROSALIA SANTULLI (President) LAURA NIERI STEFANO PISERA' LESSONS LESSONS START Second semester Class schedule ADVANCED CORPORATE FINANCE EXAMS EXAM DESCRIPTION Written examination Project work ASSESSMENT METHODS Assessment methods for attending students: Project work presentation The students will be asked to present the PW developed in group. It takes the form of the resolution of 5 tasks, applied to a real case, aimed at promoting learning through the practical application of the main theoretical contents of the course: analysis of corporate governance, financial planning, calculation of the cost of capital, identification of the optimal financial structure, enterprise risk management. The presentation of the PWs also intends to verify students' ability to use the technical language required by the subject, to discuss the contents critically and to answer questions posed by the teacher and the classroom. Written test Attending students will also take a written test with multiple choice questions. Assessment methods for attending students: Written test Non-attending students will take a written test with multiple choice questions, open questions and exercises. Exam schedule Data appello Orario Luogo Degree type Note 18/12/2024 10:00 GENOVA Esame Scritto Prof.ssa Santulli con accettazione online 17/01/2025 10:00 GENOVA Esame Scritto Prof.ssa Santulli con accettazione online 29/01/2025 10:00 GENOVA Esame Scritto Prof.ssa Santulli con accettazione online 29/05/2025 10:00 GENOVA Esame Scritto Prof.ssa Santulli con accettazione online 12/06/2025 10:00 GENOVA Esame Scritto Prof.ssa Santulli con accettazione online 04/07/2025 10:00 GENOVA Esame Scritto Prof.ssa Santulli con accettazione online 05/09/2025 10:00 GENOVA Esame Scritto Prof.ssa Santulli con accettazione online Agenda 2030 - Sustainable Development Goals Quality education Gender equality Decent work and economic growth OpenBadge PRO3 - Soft skills - Gestione progettuale base 1 - A PRO3 - Soft skills - Creazione progettuale base 1 - A PRO3 - Soft skills - Sociale avanzato 1 - A PRO3 - Soft skills - Alfabetica avanzato 1 - A