Università Roma Tre

THE COURSE ANALYZES ECONOMIC AND FINANCIAL CHARACTERISTICS OF SMALL- AND MEDIUM-SIZED FIRMS (SMES) BY COMPARING THEM WITH LARGE FIRMS. IN DETAIL, THE COURSE AIMS TO:
1) DEFINE THE CONCEPT OF SMES IN ITALY AND ABROAD, WITH A FOCUS ON THE ROLE PLAYED BY INDUSTRIAL DISTRICTS IN WHICH SMES ARE BORNE;
2) ANALYZE SMES’ CONTRIBUTION TO ITALIAN ECONOMIC DEVELOPMENT WITH A FOCUS ON THE SO CALLED FOURTH CAPITALISM;
3) DESCRIBE THE MAIN FINANCIAL FEATURES OF SMES: HOW DOES FIRM SIZE AFFECT FINANCIAL DECISIONS? WHAT ARE THE MAIN FINANCIAL VARIABLES THAT ARE AFFECTED BY FIRM SIZE?
4) EXTEND TO SMES TRADITIONAL FINANCIAL THEORIES ON CAPITAL BUDGETING, CAPITAL STRUCTURE AND RISK ESTIMATION TYPICALLY APPLIED TO LARGE FIRMS. ARE THESE THEORIES APPLICABLE TO SMES? WHAT ARE THE FURTHER ASSUMPTIONS NEEDED TO MAKE THESE THEORIES APPLICABLE TO SMES? HOW CAN ONE FACE THE FAILURES OF THESE THEORIES DEVELOPED ON LARGE FIRMS?
5) ILLUSTRATE, EMPIRICALLY AND THEORETICALLY, THE FINANCIAL PECULIARITIES OF SMES WITH REFERENCE TO INVESTMENT DECISIONS, CAPITAL STRUCTURE DECISIONS, AND RISK ASSESSMENT