Ing Ind - Inf (Mag.)(ord. 270) - BV (479) MANAGEMENT ENGINEERING - INGEGNERIA GESTIONALE
*
A
ZZZZ
097749 - CORPORATE FINANCE B
052802 - FINANCE LAB + CORPORATE FINANCE
Obiettivi dell'insegnamento
The course objectives are as follows:
Analyzing the financial structure and governance decisions of a company
Learning how the company may raise money to finance growth, projects and investments, and which instruments can be used
Analyzing the characteristics of financial securities, and their valuation methodologies
Analyzing derivatives contracts, their valuation methodologies and how they can be used to hedge company liabilities
The course fits into the overall program curriculum pursuing some of the defined general learning goals. In particular, the course contributes to the development of the following capabilities:
Understand context, functions, processes and instruments in firm and investment financing
Design solutions applying a scientific and engineering approach (Analysis, Learning, Reasoning, and Modeling capability deriving from a solid and rigorous multidisciplinary background) to face problems and opportunities in corporate finance
Develop new ideas and solutions in financial modelling
Risultati di apprendimento attesi
Comprehension of the logics of the firm financial structure, selecting between equity and debt
Demonstrate the knowledge of the characteritics and pricing models of debt and equity securities
Capability to evaluate the effects of financing decisions on firm and investment appraisal, designing solutions and models
Demonstrate the knowledge of the characteritics and pricing models of derivatives (forward contracts and options) and their use in hedging strategies
Argomenti trattati
The course of Corporate Finance (5 cfu) analyzes the process of corporate investments’ financing through the selection of security typology, capital issuance, corporate governance and hedging.
Topics:
Financial structure: Modigliani & Miller propositions, debt vs. equity, agency costs
Debt raising: bonds (valuation, duration, term structure of interest rates, volatility)
Equity raising: shares (valuation)
Interactions between value and financing (adjusted present value, wacc)
Derivatives (forward contracts, options)
The course may be taken as optional by students enrolled in any concentrations of the course of Management Engineering.
The course is integrated with 'Finance Lab' (10 cfu) in the second semester for students enrolled in the Finance concentration.
Prerequisiti
- Knowledge of cash flow discounting methodologies
- Knowledge of the balance sheet structure (A&L, profit&losses, cash flow statement)
- Knowledge of the Capital Asset Pricing Model (CAPM)
Modalità di valutazione
Written text and oral text (optional).
The written text will consist of 3 numerical exercises, in order to test the capability of the students to reach the expected learning objectives.
Bibliografia
Brealey Myers, Principles of Corporate Finance
Software utilizzato
Nessun software richiesto
Forme didattiche
Tipo Forma Didattica
Ore di attività svolte in aula
(hh:mm)
Ore di studio autonome
(hh:mm)
Lezione
32:30
48:45
Esercitazione
17:30
26:15
Laboratorio Informatico
0:00
0:00
Laboratorio Sperimentale
0:00
0:00
Laboratorio Di Progetto
0:00
0:00
Totale
50:00
75:00
Informazioni in lingua inglese a supporto dell'internazionalizzazione
Insegnamento erogato in lingua
Inglese
Disponibilità di materiale didattico/slides in lingua inglese
Disponibilità di libri di testo/bibliografia in lingua inglese
Possibilità di sostenere l'esame in lingua inglese
Disponibilità di supporto didattico in lingua inglese
Inglese