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Course 2020-2021 a.y.

20265 - INTERNATIONAL CORPORATE FINANCE

Department of Finance

Course taught in English


Go to class group/s: 31

M (6 credits - I sem. - OP  |  SECS-P/09)
Course Director:
CARLO MARIA PINARDI

Classes: 31 (I sem.)
Instructors:
Class 31: CARLO MARIA PINARDI


Suggested background knowledge

The course is designed to provide students with an introduction to international corporate finance.


Mission & Content Summary
MISSION

Students will learn about global financial markets and institutions, the foreign exchange market, international parity relationships, managing risk in international finance, and making investment and financing decisions in an international environment. The emphasis is on the economic and financial principles of international financial management, as well as its institutional features. These financial principles and institutional features are both relevant and useful for business professionals who operate in an increasingly competitive and global economy. Given the nature of the topics covered and the assigned work, this course has significant analytical and quantitative components throughout.

CONTENT SUMMARY

The program is based on 24 online synchronous meetings, some of which may be moderated by external industry visitor speakers. The following topics will be covered:

-   Foundations of the international financial management – objectives, role, players and corporate governance

-   The foreign exchange market, exchange rates determination, international parity relationships and using derivatives to manage FX risk

-   Management of transaction, economic and translation exposure

-   Raising funds in the international bond and equity markets

-   Investment and financing decisions in an international environment

-   International portfolio investments

-   Multinational tax management.


Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...

Students will be able to make informed investment and financial decisions in a global setting and use the tools required to manage international finance risk.

  • Estimate exchange rates.
  • Distinguish and manage risk in international finance.
  • Recognize the investment and financial issues faced by managers in a global setting.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
  • Use the tools required to manage international finance risk and make informed investment and financial decisions in a global setting.

Teaching methods
  • Face-to-face lectures
  • Guest speaker's talks (in class or in distance)
  • Exercises (exercises, database, software etc.)
  • Case studies /Incidents (traditional, online)
  • Individual assignments
  • Group assignments
DETAILS
  • Several exercise sessions are organized to ensure that students are able to apply the concepts disussed.
  • Lectures by external industry visitor speakers and case studies are used to link theory with practice.
  • Students are asked to submit individual assignments as a way to assertain their participation in the course.

Assessment methods
  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
  •   x x
  • Individual assignment (report, exercise, presentation, project work etc.)
  • x    
  • Group assignment (report, exercise, presentation, project work etc.)
  • x    
  • Active class participation (virtual, attendance)
  • x    
    ATTENDING STUDENTS

    Attending students may opt for taking two partial exams (instead of the cumulative course exam). The first exam will be administered at the end of the first part of the semester and the second – at the end of the semester. Both exams will have the same structure as outlined above. A passing grade is required in both exams. If a student fails, scores a low grade or misses the first optional partial exam (but has completed all work required for attending students) they may choose to take the cumulative final exam, which will be administered on the same dates as that of the second partial exam. If an attending student opts to take the cumulative exam, their extra credit points (the average of the points from quizzes and cases) will be added to their final exam grade.

    Attending students’ partial exams are based only on the topics covered in class. Topics and depth of coverage may differ from those in the textbook. All exam sessions after the session in January are based exclusively on the textbook chapters indicated in the Course Outline (i.e. there are no differentiation between attending and non-attending students).

    NOT ATTENDING STUDENTS

    Non-attending students will take a cumulative final exam. The exam will be based on all textbook chapters (and pertaining exercises) listed in the syllabus (under the Course Outline) and will not include any additional content (such as cases), discussed in-class. Non-attending students cannot earn extra credit.

     

     


    Teaching materials
    ATTENDING STUDENTS
    • C. Eun, B. Resnick, International Financial Management, Nineth Edition, McGraw-Hill, 2020 (chapters 1-17 and chapters 20-21).

      For purchase options please visit:

      https://www.mheducation.com/highered/product/international-financial-management-eun-resnick/M9781260013870.html#buying-options 
    • Real-world, up-to-date case studies to be discussed in class, often with top executives of the companies involved.
    • Some topics will require additional materials such as Excel templates, journal articles and financial reports, which will be distributed through the course web platform.

    • PowerPoint Slides and supplementary teaching materials will be posted on Blackboard.

    NOT ATTENDING STUDENTS
    Last change 28/08/2020 17:56