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Risorse bibliografiche
Risorsa bibliografica obbligatoria
Risorsa bibliografica facoltativa
Scheda Riassuntiva
Anno Accademico 2018/2019
Scuola Scuola di Ingegneria Industriale e dell'Informazione
Insegnamento 052802 - FINANCE LAB + CORPORATE FINANCE
Docente Giudici Giancarlo
Cfu 15.00 Tipo insegnamento Corso Integrato
Didattica innovativa L'insegnamento prevede  5.0  CFU erogati con Didattica Innovativa come segue:
  • Cotutela con mondo esterno

Corso di Studi Codice Piano di Studio preventivamente approvato Da (compreso) A (escluso) Insegnamento
Ing Ind - Inf (Mag.)(ord. 270) - BV (479) MANAGEMENT ENGINEERING - INGEGNERIA GESTIONALE*AZZZZ052802 - FINANCE LAB + CORPORATE FINANCE
097749 - CORPORATE FINANCE B

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 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 in firm and investment financing, equity capital raising, financial engineering and asset allocation

  • 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
  • Interact in a professional, responsible, effective and constructive way in a working environment, also motivating group members


Risultati di apprendimento attesi

The learning objectives are:

  • 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
  • Understanding the processes and techniques of equity capital raising
  • Knowledge of the basis of financial engineering and structuring complex financial products
  • Understanding the asset allocation strategies and main indicators for the performance measurement
  • Knowledge of the fintech and insurtech opportunities both as self-standing initiatives and as cooperation with incumbents
  • Approaching practical issues in finance and learning to deliver solutions
  • Demonstrating skills and capabilites to manage projects in a professional environment in the finance business

 


Argomenti trattati

The course of Corporate Finance + Lab (15 cfu) is integrated in two modules.

 

First Semester: Corporate Finance (5 cfu)

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)
 
Second semester: Lab (10 cfu)
 

The Finance Lab provides a unique opportunity to go in depth into the financial matters illustrated over the track, with an experimental approach and an integrated logic. In particular, the lab addresses both corporate finance and market finance themes, through frontal lectures, case studies, and business & portfolio simulation.

The topics introduced in the Finance Lab are:

- equity capital raising

- financial engineering and structured products

- asset allocation 

- fintech and insurtech

During the laboratory, participants will have the opportunity to develop a project, in cooperation with banks, financial and industrial companies, where students could experience the real life of a career in finance. Topics introduced in the course are, among others, equity capital issues, advanced topics in derivatives, asset management and asset pricing.

 


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

The final mark will be determined as follows:

33% mark of the Corporate Finance course

33% mark of the written text (see above)

33% mark of the Project Work (see above)


Bibliografia
Risorsa bibliografica facoltativaHillier, Corporate Finance (European Edition)
Risorsa bibliografica obbligatoriaBrealey Myers, Principles of Corporate Finance

Forme didattiche
Tipo Forma Didattica Ore di attività svolte in aula
(hh:mm)
Ore di studio autonome
(hh:mm)
Lezione
75:00
112:30
Esercitazione
30:00
45:00
Laboratorio Informatico
0:00
0:00
Laboratorio Sperimentale
0:00
0:00
Laboratorio Di Progetto
45:00
67:30
Totale 150:00 225:00

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
schedaincarico v. 1.6.1 / 1.6.1
Area Servizi ICT
18/02/2020