| ADVANCED CORPORATE FINANCE
(objectives)
To complete and deepen/improve the theoretical and practical fundamentals of corporate finance provided in the under-graduate course of Corporate Finance, in order to develop competences and skills for understanding the capital markets functioning, the investment and financing decisions of non-financial firms, their ownership structure and their corporate governance systems. The course includes the following items:
1. the decision theory under uncertainty and the measurement of risk premium
2. financial options: definitions, typologies, fundamentals and pricing
3. contingent claim theory applied to corporate finance:
a. models à la Merton for estimating the credit risk
b. options and agency costs
c. real options for evaluating investments/companies
d. credit derivatives and CDS
4. economics and finance of M&As
5. beyond the Capital Asset Pricing Model: advanced formulations and multifactor models for estimating the cost of capital
6. determinants of capital structure choice: theories and empirical evidence
7. financial structure of the Italian firms, in comparison with European and US companies
8. IPOs and relevant implications
9. systems of corporate governance in Italy, Continental Europe and USA/World: international comparisons
10. finance of small business.
|
|
Code
|
21201718 |
|
Language
|
ITA |
|
Type of certificate
|
Profit certificate
|
| Module:
(objectives)
To complete and deepen/improve the theoretical and practical fundamentals of corporate finance provided in the under-graduate course of Corporate Finance, in order to develop competences and skills for understanding the capital markets functioning, the investment and financing decisions of non-financial firms, their ownership structure and their corporate governance systems. The course includes the following items:
1. the decision theory under uncertainty and the measurement of risk premium
2. financial options: definitions, typologies, fundamentals and pricing
3. contingent claim theory applied to corporate finance:
a. models à la Merton for estimating the credit risk
b. options and agency costs
c. real options for evaluating investments/companies
d. credit derivatives and CDS
4. economics and finance of M&As
5. beyond the Capital Asset Pricing Model: advanced formulations and multifactor models for estimating the cost of capital
6. determinants of capital structure choice: theories and empirical evidence
7. financial structure of the Italian firms, in comparison with European and US companies
8. IPOs and relevant implications
9. systems of corporate governance in Italy, Continental Europe and USA/World: international comparisons
10. finance of small business.
|
|
Code
|
21201718-1 |
|
Language
|
ITA |
|
Type of certificate
|
Profit certificate
|
|
Credits
|
5
|
|
Scientific Disciplinary Sector Code
|
SECS-P/09
|
|
Contact Hours
|
30
|
|
Type of Activity
|
Core compulsory activities
|
|
Derived from
|
21201718 ADVANCED CORPORATE FINANCE in Economics LM-56 (professor to define)
(syllabus)
- Capital market efficiency and investor behavior
- CAPM in non-perfect markets, empirical evidence and tests
- Multifactor models for cost of capital estimation
- Financial options
- Real options
- Credit risk: definition and estimation
- Mergers and acquisitions
- Initial Public Offering
- Capital structure choices
- Dividend policy
- Corporate governance
(reference books)
1. Berk J., De Marzo P., 2018, Finanza aziendale 1, 4th edition, Pearson, chapters 13 e 17
2. Berk J., De Marzo P., Morresi, O., Venanzi, D., 2018, Finanza aziendale 2, Pearson, chapters 2-3-4-6-7-10-11-12-13
3. Trigeorgis L., 1996, Real Options, MIT Press, chapters 4 (excluding §4.6) and 5.
|
|
Dates of beginning and end of teaching activities
|
From 28/02/2018 to 28/05/2018 |
|
Delivery mode
|
Traditional
|
|
Attendance
|
not mandatory
|
|
Evaluation methods
|
Written test
|
|
|
| Module:
(objectives)
To complete and deepen/improve the theoretical and practical fundamentals of corporate finance provided in the under-graduate course of Corporate Finance, in order to develop competences and skills for understanding the capital markets functioning, the investment and financing decisions of non-financial firms, their ownership structure and their corporate governance systems. The course includes the following items:
1. the decision theory under uncertainty and the measurement of risk premium
2. financial options: definitions, typologies, fundamentals and pricing
3. contingent claim theory applied to corporate finance:
a. models à la Merton for estimating the credit risk
b. options and agency costs
c. real options for evaluating investments/companies
d. credit derivatives and CDS
4. economics and finance of M&As
5. beyond the Capital Asset Pricing Model: advanced formulations and multifactor models for estimating the cost of capital
6. determinants of capital structure choice: theories and empirical evidence
7. financial structure of the Italian firms, in comparison with European and US companies
8. IPOs and relevant implications
9. systems of corporate governance in Italy, Continental Europe and USA/World: international comparisons
10. finance of small business.
|
|
Code
|
21201718-2 |
|
Language
|
ITA |
|
Type of certificate
|
Profit certificate
|
|
Credits
|
4
|
|
Scientific Disciplinary Sector Code
|
SECS-P/09
|
|
Contact Hours
|
30
|
|
Type of Activity
|
Core compulsory activities
|
|
Derived from
|
21201718 ADVANCED CORPORATE FINANCE in Economics LM-56 (professor to define)
(syllabus)
- Capital market efficiency and investor behavior
- CAPM in non-perfect markets, empirical evidence and tests
- Multifactor models for cost of capital estimation
- Financial options
- Real options
- Credit risk: definition and estimation
- Mergers and acquisitions
- Initial Public Offering
- Capital structure choices
- Dividend policy
- Corporate governance
(reference books)
1. Berk J., De Marzo P., 2018, Finanza aziendale 1, 4th edition, Pearson, chapters 13 e 17
2. Berk J., De Marzo P., Morresi, O., Venanzi, D., 2018, Finanza aziendale 2, Pearson, chapters 2-3-4-6-7-10-11-12-13
3. Trigeorgis L., 1996, Real Options, MIT Press, chapters 4 (excluding §4.6) and 5.
|
|
Dates of beginning and end of teaching activities
|
From 28/02/2018 to 28/05/2018 |
|
Delivery mode
|
Traditional
|
|
Attendance
|
not mandatory
|
|
Evaluation methods
|
Written test
|
|
|
|
Università Roma Tre