- Scheda dell'insegnamento
- Obiettivi formativi
- Metodi didattici
- Verifica dell'apprendimento
- Altre informazioni
The course analyzes the different sources of corporate financing (financial markets and intermediaries).
The topics are analyzed in the economic perspective of the entrepreneurs.
At the end of the course students will be able to know and understand the main economic and financial variables used to evaluate different type of funding and their impact on firms’ capital structure.
Moreover they should be able to make a judgment related to the acceptability of financing decisions and their impact on company’s risk exposure.
There are no explicit prerequisites.
A) FINANCIAL INSTRUMENTS, INTERMEDIARIES AND MARKETS
1. Introduction and overview of corporate financing
2. The role of financial intermediaries and markets
3. The evaluation of financial securities
4. How financial intermediaries and markets evaluate firms
5. Money and bond markets
6. Equity markets
7. Derivative securities markets
B) CORPORATE BANKING AND CORPORATE FINANCE
8. Investments’ valuation
9. The estimation of cash-flows
10. Firms’ financial structure and the impact on firms’ valuation
Teaching lessons and exercises. The total amount of hours delivered in class is equal to 40.
• Attending students: group work/assignment to be presented in class (further details are available on e-learning platform) and final “short” written test, composed of 1 question, 2 exercises and 4 multiple choice questions (time allowed = 1 hour). The assignment is mandatory. The score referred to the assignment is equal to 30% of the final score, the remaining (70%) will be obtained with the final “short” written test.
• Not attending students: “regular” written test, which lasts an hour and a half, with 3 questions, 3 exercises and 8 multiple-choice questions.
For the purpose of passing the exam is necessary to achieve a rating of at least 18 points over 30. Student can report the highest score (30 cum laude) if the total score is equal to 30 points over 30.
The course material required is as follows:
• A. Saunders and M.M. Cornett, “Financial Markets and Institutions”, 5th edition, International Edition, McGraw-Hill Irwin, New York, 2012
• R.A. Brealey, S.C. Myers and F. Allen, “Principles of corporate finance”, 10th ed., Global Edition, McGraw-Hill Irwin, New York, 2011.
Selected chapters will be indicated in class and published with a notice on e-learning platform (http://elearning3.uninsubria.it).
Both of books are available at the Library of Economics (MTG 71, ground floor).
Other materials (slides of the lectures, tutorials and study materials) will be available online on e-learning platform.
No other teaching material (handouts, summaries, etc..) is authorized by the teacher.
• Department of Economics, Via Monte Generoso, 71 – Varese
• In the I semester of A.Y. 2017/18, the reception is usually on Wednesdays at 11.30 pm (office #20, first floor). Any change will be published on Lecturer’s webpage.
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