AIMS AND CONTENT

LEARNING OUTCOMES

The course aims to equip students with the analytical tools necessary to understand and make informed financial decisions within a corporation. The course focuses on key areas such as financial statement analysis, investment appraisal, capital structure, risk and return, and market efficiency.

Students will learn to evaluate investment opportunities by applying the time value of money and the law of one price, and by using capital budgeting techniques. They will also examine the trade-off between debt and equity financing and assess the impact of capital structure decisions on firm value.

Through theoretical lectures, practical examples, exercises, and case-based discussion, students will develop the ability to analyze financial statements, assess risk and return, estimate the cost of capital, and interpret the implications of financial distress, managerial incentives, and information asymmetries.

AIMS AND LEARNING OUTCOMES

The course is organized around the following core topics: corporations and financial markets; financial statement analysis; time value of money; financial decision making and the law of one price; capital budgeting; interest rates; risk and return; CAPM and portfolio theory; estimation of the cost of capital; efficient market theory; Modigliani and Miller model; financial distress, managerial incentives, and information.

TEACHING METHODS

Course delivery. Please note that this course is delivered online (9 hours online videos + 6 hours in person) via the Learn platform. To request access, students must contact the Settore metodi e contenuti at edunext@aulaweb.unige.it.

Teaching activities. The teaching activities combine online lectures, in-person lectures, theoretical explanations, numerical applications, and discussion of corporate finance cases. Students are expected to use the online materials before the in-person sessions and to participate actively in practical exercises.

Exam accommodations for students with disabilities, SLD, or SEN. Students with a valid disability certificate or a diagnosis of Specific Learning Disabilities (SLD) under Italian Law 104/1992, or Special Educational Needs (SEN), who are registered with the University's Inclusion Services, can request compensatory tools and/or dispensatory measures for exams.

Students with disabilities, SLD, or SEN are reminded that, to request exam accommodations, they must first upload their certification to the University website at servizionline.unige.it, in the “Students” section. The documentation will be checked by the University's Services for the Inclusion of Students with Disabilities and with SLD.

At the beginning of the course, students are advised to contact the lecturer to agree on exam arrangements which, while respecting the learning objectives of the course, take individual learning needs into account.

To request compensatory tools or dispensatory measures, students with disabilities or SLD must fill in the dedicated Webform available at https://unige.it/disabilita-dsa, at least 7 working days before the exam.

Students with SEN may instead send their request by e-mail to the lecturer, copying the Department Representative, Prof. Elena Lagomarsino, at inclusione.economia@unige.it, and the Inclusion Office at inclusione.studenti@info.unige.it.

SYLLABUS/CONTENT

1. The corporation and financial markets

2 The corporation and financial markets II

3 Introduction to Financial Statement Analysis

4 Introduction to Financial Statement Analysis II

5 The Time Value of Money

6 The Time Value of Money II

7 Financial Decision Making and the Law of One Price

8 Financial Decision Making and the Law of One Price II

9 Fundamentals of Capital Budgeting

10 Fundamentals of Capital Budgeting II

11 Fundamentals of Capital Budgeting III

12 Interest rate

13 Risk and return

14 Risk and return (2)

15 Risk and the opportunity of cost of capital

16 CAPM and Portfolio theory

17 CAPM and Portfolio theory (2)

18 CAPM and Portfolio theory (3)

19 Estimating the cost of capital

20 Estimating the cost of capital (2)

21 Efficient Market Theory

22 Efficient Market Theory (2)

23 M&M model

24 M&M model (2)

25 Financial Distress, Managerial Incentives, and Information

26 Financial Distress, Managerial Incentives, and Information (2)

TEACHERS AND EXAM BOARD

LESSONS

LESSONS START

Please note that online lectures are scheduled to begin on March 8, 2027 (second semester).

The 6-hour lectures in person will take place from May 3 to May 28, 2027 (second semester).

Further details about the lecture timetable will be announced at a later date.

The timetable for this course will be made available through the official UniGe timetable portal and/or communicated through the Learn platform.

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

ASSESSMENT METHODS

Assessment methods and exam dates will be communicated through the official UniGe channels and the course platform.