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Derived from
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21210146 Advanced Corporate Finance in Economics LM-56 VENANZI DANIELA
(syllabus)
A) Investment decisions
1. decision theory under uncertainty and risk premium measures
2. financial options: theory, pricing models, risk-return
3. contingency theory analysis applied to corporate finance: a) corporate capital in terms of options, betas and debt agency costs; b) risk-credit models à la Merton; c) credit derivatives and credit default swap (CDS)
4. real options: types (growth, scope-down, downsizing, defer-learn, etc.), valuation techniques and examples in evaluation of investment projects and firms
5. mergers and acquisitions: theory, determinants, international empirical evidence, performance
B) Financing decisions
1. key determinants of the capital structure choice
2. international empirical evidence: research strands and main empirical findings
3. international comparisons on real corporate financial structure, worldwide
4. IPOs and main features
5. dividend policy: theories and financing relationships
C) How to measure the cost of capital
1. CAPM
2. impact of indebtedness
3. extension of CAPM in imperfect markets and how to empirically test CAPM
3. beyond CAPM: multi-factor models
D) Ownership models and corporate governance systems
1. types of ownership and CG system
2. cross-country and trend comparative analysis about CG systems in USA, Europe and World and respective empirical evidence
3. the finance of small business.
(reference books)
1. Berk J., De Marzo P., 2018, Finanza aziendale 1, IV edizione, Pearson, capp.17 (incluse le Appendici), 18 e §§ 13.1, 13.6, 13.7 (pp.496-497)
2. Berk J., De Marzo P., Morresi O., Venanzi D., 2018, Finanza aziendale 2 –Teoria e pratica della finanza moderna, Pearson, capp. 1-2 (solo §§ 2.1, 2.3, 2.5, 2.6, 2.7)-3-4-6-7-10-13-14 e § 12.8.
In addition, slides, notes, exercises, cases, data and other teaching materials provided from the teacher on the course website (the requested passwords are provided). The program includes the exercises/problems and other materials at the end of textbook chapters or downloadable from both course and textbook websites.
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Università Roma Tre