In the first part the course aims to provide a general overview of the elements making up the financial system, analyzing the structure and characteristics of markets, the business of credit intermediation and brokerage intermediation.
In the second part, in the perspective of non financial firms, are analyzed the characteristics of the net present value in the capital budgeting decisions, the choices of financial structure, the financing instruments in the short and medium-long term, the dividend policy, the payment instruments in international trade and the operations of hedging of financial risks (currency risk, interest rate risk and commodity risk); moreover the topics of project finance and patent box are examined during the course.
The teaching methods consist of lectures and examples designed to facilitate the understanding and interpretation of theoretical concepts.
Introduction to financial intermediation.
European Central Bank, monetary policy and interest rates.
The asset management companies and the mutual funds.
The brokerage securities companies and the investment banks.
The principles of corporate finance.
The determination of the relevant cash flows and the cost of capital in the net present value.
The decisions of financial structure. The benefits and the costs of borrowing.
The technical forms of medium and long-term financing.
The technical forms of short-term financing.
The dividend policy.
Payment instruments in international trade.
Hillier D., Ross S., Westerfield R., Bradford J., Corporate Finance, Italian edition, McGraw Hill, 2018.
Students must also prepare the material loaded on the elearning page of the course.
|Hillier D, Ross S, Westerfield R, Jaffe J, Jordan B||Corporate finance (Edizione 2)||McGraw-Hill||2013|
The objective of the exam consists in verifying the level of achievement of the course's educational objectives.
The exam consists of a written test with some open and some closed questions. The multiple choice quiz is also possible.