Learning outcomes

The course aims to analyze the principles of corporate finance by deepening the characteristics of the net present value in the capital budgeting decisions, the choices of financial structure, the financing instruments in the short and medium-long term, the dividend policy, the payment instruments in international trade and the operations which can be realized by industrial firms for hedging financial risks.
The teaching methods consist of lectures and exercises designed to facilitate the understanding of theoretical concepts.

Program

The principles of corporate finance.
The determination of the relevant cash flows and the cost of capital in the net present value.
The decisions of financial structure. The benefits and the costs of borrowing.
The technical forms of medium and long-term financing.
The technical forms of short-term financing.
Payment instruments in international trade.
Introduction to Corporate Financial Risk Management.
The project finance.

Reference material
Volume Create for the course "Analisi e copertura dei fabbisogni finanziari - a.a. 2015-16" published by McGraw Hill.
Students must also prepare the material loaded on the elearning page of the course.

With the aim to a fruitful learning of the topics covered in the teaching it is appropriate that the student has an adequate knowledge of the concepts taught in the course of “Financial markets and Institutions”.

Examination Methods

The exam is written and is directed to verify the knowledge of the topics in the program. It consists of 3 questions (theoretical questions and exercises).

There will be a mid-term exam in which the student may elect to participate.

The midterm will focus on the first part of the program:

- the principles of corporate finance;
- the determination of the relevant cash flows and the cost of capital in the net present value;
- the decisions of financial structure. The benefits and the costs of borrowing.

The mid-term exam consists of a written with 3 questions (theoretical questions and exercises).

Those who pass the midterm will have to bear a test which will focus on the second part of the course:

- the technical forms of medium and long-term financing;
- the technical forms of short-term financing;
- payment instruments in international trade;
- introduction to Corporate Financial Risk Management;
- the project finance.

The exam on the second part of the program must be sustained in one of the appeals provided for in the session immediately following the semester in which the course was given. The test on the remaining part of the program consists of one written with 3 questions (theoretical questions and exercises).

Compared to the final vote, the result obtained in the mid-term exam will have a weight equal to 50%.
Further guidance on the midterm will be made available before the start of the course on the elearning platform.

On e-learning platform, the exam topics will be available immediately after the exam.