Derived from
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21201513 FINANCIAL ANALYSIS in ECONOMICS L-33 MORRESI OTTORINO
(syllabus)
Main topics of the course
1. Objectives, contents and use of financial analysis 2. Concepts of strategic analysis: analysis of competitive forces as foundation of financial analysis 3. Adjustments and reclassifications of accounting data and financial reports 4. Performance analysis of non-financial firms: a. Accounting ratios analysis b. Cash flows analysis and preparation of cash flow statement 5. Forecast analysis: structure and logic of forecast analysis and preparation of forecast documents 6. Financial analysis and firm value: DCF, DDM, abnormal profit, abnormal profit growth, multiples 7. Working capital management 8. Cost of debt and estimation of bankruptcy risk 9. The industry of asset management: mutual funds and investment companies 10. Risk and return of portfolios and mutual funds: TWR, MWR, risk measures and risk-adjusted performance measures
(reference books)
1. Palepu K.G. – Healy P.M. – Peek E., Business analysis and valuation. IFRS edition, fourth edition, Cengage Learning, 2016. 2. Berk J. – De Marzo P., Finanza aziendale 1, 4th edition, Pearson, 2018, chapter 6 3. Berk J. – De Marzo P., Finanza aziendale 2, Pearson, 2018, chapters 8-9 and §5.4 4. Feibel B. J., Investment performance measurement, Frank J. Fabozzi Series, Wiley, 2003, chapters 3-4-5-7-9-10-11-12-13-14
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