CORPORATE FINANCE

Single discipline educational activity

Course Sheet

Course code:

COFI18

Academic Year of enrolment:

2017

Year of supply:

2018/2019

Type of Course:

Elective Course

Degree:

Course of 2nd Cycle Degree in MANAGEMENT AND ECONOMICS

Disciplinary Sector:

Economics of Financial Intermediaries

Language:

Italian

Location:

PESCARA

Credits:

Programme Year:

Professor and Collaborators:

QUINTILIANI Andrea

Cycle:

Second four months

Hours of classroom activity:

Individual study hours:

114

Prerequisites:

Although no prerequisites are required, knowledge of the basic concepts of business administration is recommended, with particular reference to the following topics: economic and financial measures, discounting systems, budgeting systems.

Objectives

The course pursues the general objective of the course of study to provide knowledge and skills regarding application of the principles of corporate finance in business management.
The presentation of the main theories on corporate finance, the analysis of cases and the resolution of problems enable students to understand the activities carried out by a financial manager.
The course also aims to help students develop their skills and to apply the knowledge gained in the study and practice of business management. In particular, the course presents the methods and tools that managers use in determining the costs and benefits of investment decisions and financing. The concepts of value creation and the time value of money are essential for the understanding of the basic principles of modern corporate finance.
At the end of the course the student must possess knowledge and skills related to the Firm’s financing choices and Business valuation methods.
The objective is to contribute to the formation of a professional figure (envisaged in the Security Council) responsible for administrative-financial management of private companies, both as an internal profile and as a consultant.
To this end the course proposes to transmit the following skills and knowledge:
• KNOWLEDGE AND UNDERSTANDING ABILITY. Students must demonstrate knowledge of the general principles underlying corporate finance.
• KNOWLEDGE AND UNDERSTANDING (applied). Students must be able to re-elaborate the topics covered during the teaching in order to apply the acquired knowledge in the continuation of university studies and the subsequent professional career.
• AUTONOMY OF JUDGMENT. Students must be able to collect data and information transmitted by the teacher in order to integrate the acquired knowledge and make judgments. In particular, the student expresses analytical and summary considerations on the aspects in oral form
fundamental principles of the discipline and makes interdisciplinary connections.
• COMMUNICATION SKILLS. Students must show skills in clearly explaining the concepts learned. In particular, he must be able to use technical language- financial.

Contents

The main contents of the course include financial analysis and financial planning, capital budgeting techniques, business valuation procedures, choice of funding sources and optimal capital structure.

Extended Syllabus

• Course Description;
• Financial statement and dynamic financial analysis;
• Capital budgeting;
• Business valuation methods;
• Firm’s financing choices.
• Capital structure theories.

Recommended Bibliography

Attending students - Slides presented and commented in the classroom, handouts edited by the teacher, exercises and business cases, Excel file support. For further details and additions, we strongly recommend the study of the manual by Jonathan Berk and Peter DeMarzo - "Corporate Finance 1. Foundations", IV edition "(Italian edition by Ottorino Morresi, Daniela Venanzi), Pearson, 2018 - in the parts listed below: Part I (Chapter 3 "Arbitrage and financial decisions"); Part II (Chapter 4 "The value of money over time", Chapter 5 "Interest rates"); Part III (Chapter 7 "Criteria for choosing investments", Chapter 8 "Fundamentals of capital budgeting", Chapter 9 "Valuation of shares"); Part IV (Chapter 10 "Capital markets and risk pricing", Chapter 12 "Estimating the cost of capital"); Part V (Chapter 14 "The structure of capital in a perfect market").

Non-attending students - Jonathan Berk, Peter DeMarzo, "Corporate Finance 1. Foundations. 4th edition" (Italian edition by Ottorino Morresi, Daniela Venanzi), Pearson, 2018. ISBN-10: 8891905305.

Methods of Provision

Conventional

Teaching Methods

The course includes 36 hours of lessons divided into 3 weekly lessons of 2 hours.
The course is built on learning by doing logic. In general, each lesson consists of a theoretical part flanked by the presentation of cases and and exercises to be solved in the classroom. Students, properly guided by the teacher, involved in dialogue teaching rank as the protagonists of the lesson. The active participation of students in lessons is essential to promote the success of the learning process. The presence of the students will be recorded during the lessons through the collection of the signature. Those attending will be considered attending at least 72% of the surveys. For those attending it is useful to bring to the lesson mobile devices (laptops, tablets or notebooks).

Evaluation methods

Verification of learning:

"For attending students" the assessment of learning will be carried out according to the following methods:
• Written test (weight 80%) - For attending students it is possible to take an exemption test at the end of the course. The written test is based on a mix of open questions, closed questions and exercises, which aims to assess the student’s learning level of the theoretical notions and the main concepts, methods and tools shared in the course. This test is aimed at probing above all "the knowledge" and the "know-how" (Dublin Descriptors 1 and 2). The evaluation will be attributed in thirtieths. The written test is valid for the entire academic year.
• Oral exam (weight 20%) - To be held on the official exam dates. The evaluation will be attributed in thirtieths. The oral exam (20% of the overall evaluation) is aimed at probing the learner on the one hand the communication skills, on the mastery of the language (not only the specific technical one of the reference subject) and on the clarity of the exposition, on the other hand the interpretation skills and analysis of business financial profile.
The final evaluation will be given by the average of the two assessments (written and oral exam). Students who have obtained an evaluation at least equal to 18/30 in the written test, will be able, if they wish, to renounce to the oral exam, recording in the official exam dates only the vote of the written test.

"For non-attending students" the assessment of learning will be carried out in oral form. There is no written test. The exam is carried out only in oral form. Evaluation of the oral exam focused on the book indicated in the bibliography for non-attending students.

Contacts/More Information

Class attendance is strongly recommended.
All information concerning the course, the lecture notes, the support materials and the exercises and all communications will take place through the e-learning page
Erasmus students must contact the teacher for their program
Teacher's email address: andrea.quintiliani@unich.it

Università degli Studi
"G. d'Annunzio"

Chieti - Pescara

Aree