20360 - PRECORSO DI FINANZA AZIENDALE / CORPORATE FINANCE - PREPARATORY COURSE

Basic knowledge of business Administration fundaments is kindly suggested. The preparatory course is particularly useful for students without a strong background in accounting, financial markets, institutional finance, regulatory and corporate finance.

This course aims at dealing with the most important concepts of corporate finance, the basis of financial analysis, financial planning, valuation, and cost of capital estimation. Students will be able to understand the rationale of the financial function in a company and to deal with the main topics of finance. The preparatory course focuses on smoothing and reviewing the basis of corporate finance, through the analysis of both the main theoretical models and the use of effective practical applications.

the course covers the following topics:

Cash flow computation for corporate and investment valuation;

· Capital budgeting decisions: net present value and the internal rate of return;

· Estimating the cost of capital and the capital asset pricing model

· Capital structure theories and choices and the relationship between leverage and value

· Corporate valuation: an introduction to asset-side and equity-side methods

ESG introduction and relevance of sustainability.

At the end of the course, students will have a basic knowledge of:

• financial analysis;
• They will have a basic understanding of the investment process and of their valuation;
• they will be aware of the risk and return assessment methods;
• they will be able to analyze and distinguish the features of the main financing alternatives;
• they will be able to assign a hierarchy of expected costs to the different sources of funding;
• they will have a basic knowledge of the main valuation approaches and methodologies;
• they will have an awareness of the role of ESG in the sustainability of companies and of society
• they will be able to recognize the different actors in the financial world. 

• understand and carry out financial analysis based on the financial statements related to a business entity;
• evaluate and select investment projects
• estimate the risk and return of an investment alternative;
• estimate the cost of capital of a company
• understand the aim and the composition of the financial structure;
• understand the fundamentals of valuation;
• understand the rationale and the relevance of ESG topics.
• Understand the areas of activity in the investment banking world.

• Lezioni frontali
• Lezioni online
• Esercitazioni (esercizi, banche dati, software etc.)
• Lavori/Assignment individuali
• Lavori/Assignment di gruppo

The first part of the course will be taught online and there are both exercises and online lectures. The material will be available for students before the beginning of the second part of the course, face to face, in the classroom.

During the online part of the course, the students are required to attend the lessons asynchronously and read the suggested material. Some assignments (no grade) will be available and suggested. they are in the form of short exercises and self-assessment multiple-choice questions.

tbd

to be defined

Basic knowledge of business Administration fundaments is kindly suggested. The preparatory course is particularly useful for students without a trong background in accounting, financial markets, institutional finance, regulatory and corporate finance.

This course aims at dealing with the most important concepts of corporate finance, the basis of financial analysis, financial planning, valuation, and cost of capital estimation. Students will be able to understand the rationale of the financial function of a company and to deal with the main topics of finance. The preparatory course focuses on smoothing and reviewing the basis of corporate finance, through the analysis of both the main theoretical models and the use of effective practical applications.

the course covers the following topics:

Cash flow computation for corporate and investment valuation;

· Capital budgeting decisions: net present value and the internal rate of return;

· Estimating the cost of capital and the capital asset pricing model

· Capital structure theories and choices and the relationship between leverage and value

· Corporate valuation: an introduction to asset-side and equity-side methods

ESG introduction and relevance of sustainability.

At the end of the course, students will have a basic knowledge of:

• financial analysis;
• They will have a basic understanding of the investment process;
• they will be aware of the risk and return measurement methods;
• they will be able to analyze and distinguish the features of the main financing alternatives;
• they will be able to assign a hierarchy of expected costs to the different sources of funding;
• they will have a basic knowledge of the main valuation approaches and methodologies;
• they will have an awareness of the role of ESG in the sustainability of companies and of society
• they will be able to recognize the different actors in the financial world. 
•  

At the end of the course, students will be able to:

• understand and carry out financial analysis based on the financial statements related to a business entity;
• evaluate and select investment projects
• estimate the risk and return of an investment alternative;
• estimate the cost of capital of a company
• understand the aim and the composition of the financial structure;
• understand the fundamentals of valuation;
• understand the rationale and the relevance of ESG topics.
• Understand the areas of activity in the investment banking world.

• Face-to-face lectures
• Online lectures
• Exercises (exercises, database, software etc.)
• Individual assignments
• Group assignments

The first part of the course will be taught online and there are both exercises and online lectures. The material will be available for students before the start of the second part of the course, face to face, in the classroom.

During the online part of the course, the students are required to attend the lessons asynchronously and read the suggested material. Some assignments will be available and suggested.

The course does not have an exam at the end and it is not compulsory. Some exercises will be available during the online part of the course and during the face-to-face part. They are no evaluated assessments.

There are no compusory materials, no compulsory textbooks.  The reference book, suggested, is "Corporate Finance: Theory and Practice, by Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann le Fur, Antonio Salvi; 5th edition." All the material will be available in e-learning.