Università Roma Tre

the course provides a practical instruction in how to develop a business plan for a small business start-up or expansion. Emphasis on importance of the plan components, format, marketing and financial projections and analysis.

THE AIM OF THE COURSE IS TO PROVIDE THEORETICAL SCHEMES FOR DERIVATIVES PRICING USING STOCHASTIC MODELS IN CONTINUOUS TIME AND TO STUDY QUANTITATIVE METHODS IN ORDER TO APPLY EVALUATION MODELS STARTING FROM OBSERVED DATA IN FINANCIAL MARKETS.

THE COURSE HAS BEEN DESIGNED IN ORDER TO PROVIDE STUDENTS WITH A THOROUGH EDUCATION AND TRAINING IN THE CONCEPTUAL FRAMEWORK AND ANALYTICAL TOOLS OF FINANCIAL ANALYSIS OF FIRMS AND SECTORS IN MANUFACTURING AND TERTIARY INDUSTRY. STUDENTS WILL DEVELOP A KNOWLEDGE AND UNDERSTANDING OF:
1. FINANCIAL PERFORMANCE OF FIRMS AND STRATEGIES
2. BUSINESS AND FINANCIAL RISK
3. FIRM’S FINANCIAL NEEDS AND FLOWS OF FUNDS ANALYSIS
4. CREDIT RISK AND RATING
5. WORKING CAPITAL MANAGEMENT (TRADE CREDIT-INVENTORY-LIQUIDITY).

STUDENTS HAVE THE OPPORTUNITY TO DEVELOP THE FOLLOWING SKILLS DURING THE COURSE:
• ANALYTICAL AND RESEARCH SKILLS: SKILLS OF PROBLEM DEFINITIONS; PROBLEM-SOLVING; DATA SEARCH, COLLECTION AND ANALYSIS FOR BUSINESS PURPOSES
• QUANTITATIVE SKILLS: THE ABILITY TO MANIPULATE AND INTERROGATE QUANTITATIVE DATA IN BUSINESS CONTEXTS
• QUALITATIVE SKILLS: THE EXERCISE OF CRITICAL INTERPRETATION AND JUDGMENT, THE WEIGHING OF EVIDENCE, AND THE DEVELOPMENT OF REASONED ARGUMENT, GROUP WORKING AND PRESENTATIONAL SKILLS.

TEACHING/LEARNING METHODS AND STRATEGIES USED TO ENABLE STUDENTS TO GAIN THE ABOVE SKILLS ARE:
• LECTURES: A CAREFULLY ORGANIZED PROGRAMME OF HIGHLY INTERACTIVE LECTURES COVERING CORE MATERIAL
• PROBLEM SETS, REAL-LIFE CASE STUDIES, REAL DATA ILLUSTRATION AND ANALYSIS: TO ENCOURAGE STUDENTS TO ACQUIRE QUANTITATIVE SKILLS AND TO PROVIDE PRACTICAL EXAMPLES AND TO ALLOW STUDENTS TO APPLY THEORY INTO PRACTICE IN AN AUTHENTIC CONTEXT
• SEMINARS OF FINANCIAL ANALYSTS FROM US-MEDIOBANCA AND CERVED-CENTRALE DEI BILANCI: TO PROVIDE INFORMATION ABOUT SOME OF THE MOST WIDESPREAD FINANCIAL DATABASES
• INDIVIDUAL CONSULTATIONS WITH FACULTY: TO COMPLEMENT THE LECTURES AND ALLOW STUDENTS TO EXTEND THEIR UNDERSTANDING.

the course provides a practical instruction in how to develop a business plan for a small business start-up or expansion. Emphasis on importance of the plan components, format, marketing and financial projections and analysis.

The course aims at giving an overview of the rise and the evolution of financial systems in the industrialized economies, looking especially at the main changes through the 19 th and the 20th centuries

the course provides a practical instruction in how to develop a business plan for a small business start-up or expansion. Emphasis on importance of the plan components, format, marketing and financial projections and analysis.

THE AIM OF THE COURSE IS TO PROVIDE THEORETICAL SCHEMES FOR DERIVATIVES PRICING USING STOCHASTIC MODELS IN CONTINUOUS TIME AND TO STUDY QUANTITATIVE METHODS IN ORDER TO APPLY EVALUATION MODELS STARTING FROM OBSERVED DATA IN FINANCIAL MARKETS.

THE COURSE HAS BEEN DESIGNED IN ORDER TO PROVIDE STUDENTS WITH A THOROUGH EDUCATION AND TRAINING IN THE CONCEPTUAL FRAMEWORK AND ANALYTICAL TOOLS OF FINANCIAL ANALYSIS OF FIRMS AND SECTORS IN MANUFACTURING AND TERTIARY INDUSTRY. STUDENTS WILL DEVELOP A KNOWLEDGE AND UNDERSTANDING OF:
1. FINANCIAL PERFORMANCE OF FIRMS AND STRATEGIES
2. BUSINESS AND FINANCIAL RISK
3. FIRM’S FINANCIAL NEEDS AND FLOWS OF FUNDS ANALYSIS
4. CREDIT RISK AND RATING
5. WORKING CAPITAL MANAGEMENT (TRADE CREDIT-INVENTORY-LIQUIDITY).

STUDENTS HAVE THE OPPORTUNITY TO DEVELOP THE FOLLOWING SKILLS DURING THE COURSE:
• ANALYTICAL AND RESEARCH SKILLS: SKILLS OF PROBLEM DEFINITIONS; PROBLEM-SOLVING; DATA SEARCH, COLLECTION AND ANALYSIS FOR BUSINESS PURPOSES
• QUANTITATIVE SKILLS: THE ABILITY TO MANIPULATE AND INTERROGATE QUANTITATIVE DATA IN BUSINESS CONTEXTS
• QUALITATIVE SKILLS: THE EXERCISE OF CRITICAL INTERPRETATION AND JUDGMENT, THE WEIGHING OF EVIDENCE, AND THE DEVELOPMENT OF REASONED ARGUMENT, GROUP WORKING AND PRESENTATIONAL SKILLS.

TEACHING/LEARNING METHODS AND STRATEGIES USED TO ENABLE STUDENTS TO GAIN THE ABOVE SKILLS ARE:
• LECTURES: A CAREFULLY ORGANIZED PROGRAMME OF HIGHLY INTERACTIVE LECTURES COVERING CORE MATERIAL
• PROBLEM SETS, REAL-LIFE CASE STUDIES, REAL DATA ILLUSTRATION AND ANALYSIS: TO ENCOURAGE STUDENTS TO ACQUIRE QUANTITATIVE SKILLS AND TO PROVIDE PRACTICAL EXAMPLES AND TO ALLOW STUDENTS TO APPLY THEORY INTO PRACTICE IN AN AUTHENTIC CONTEXT
• SEMINARS OF FINANCIAL ANALYSTS FROM US-MEDIOBANCA AND CERVED-CENTRALE DEI BILANCI: TO PROVIDE INFORMATION ABOUT SOME OF THE MOST WIDESPREAD FINANCIAL DATABASES
• INDIVIDUAL CONSULTATIONS WITH FACULTY: TO COMPLEMENT THE LECTURES AND ALLOW STUDENTS TO EXTEND THEIR UNDERSTANDING.

the course provides a practical instruction in how to develop a business plan for a small business start-up or expansion. Emphasis on importance of the plan components, format, marketing and financial projections and analysis.

The course aims at giving an overview of the rise and the evolution of financial systems in the industrialized economies, looking especially at the main changes through the 19 th and the 20th centuries

the course provides a practical instruction in how to develop a business plan for a small business start-up or expansion. Emphasis on importance of the plan components, format, marketing and financial projections and analysis.

THE AIM OF THE COURSE IS TO PROVIDE THEORETICAL SCHEMES FOR DERIVATIVES PRICING USING STOCHASTIC MODELS IN CONTINUOUS TIME AND TO STUDY QUANTITATIVE METHODS IN ORDER TO APPLY EVALUATION MODELS STARTING FROM OBSERVED DATA IN FINANCIAL MARKETS.

THE COURSE HAS BEEN DESIGNED IN ORDER TO PROVIDE STUDENTS WITH A THOROUGH EDUCATION AND TRAINING IN THE CONCEPTUAL FRAMEWORK AND ANALYTICAL TOOLS OF FINANCIAL ANALYSIS OF FIRMS AND SECTORS IN MANUFACTURING AND TERTIARY INDUSTRY. STUDENTS WILL DEVELOP A KNOWLEDGE AND UNDERSTANDING OF:
1. FINANCIAL PERFORMANCE OF FIRMS AND STRATEGIES
2. BUSINESS AND FINANCIAL RISK
3. FIRM’S FINANCIAL NEEDS AND FLOWS OF FUNDS ANALYSIS
4. CREDIT RISK AND RATING
5. WORKING CAPITAL MANAGEMENT (TRADE CREDIT-INVENTORY-LIQUIDITY).

STUDENTS HAVE THE OPPORTUNITY TO DEVELOP THE FOLLOWING SKILLS DURING THE COURSE:
• ANALYTICAL AND RESEARCH SKILLS: SKILLS OF PROBLEM DEFINITIONS; PROBLEM-SOLVING; DATA SEARCH, COLLECTION AND ANALYSIS FOR BUSINESS PURPOSES
• QUANTITATIVE SKILLS: THE ABILITY TO MANIPULATE AND INTERROGATE QUANTITATIVE DATA IN BUSINESS CONTEXTS
• QUALITATIVE SKILLS: THE EXERCISE OF CRITICAL INTERPRETATION AND JUDGMENT, THE WEIGHING OF EVIDENCE, AND THE DEVELOPMENT OF REASONED ARGUMENT, GROUP WORKING AND PRESENTATIONAL SKILLS.

TEACHING/LEARNING METHODS AND STRATEGIES USED TO ENABLE STUDENTS TO GAIN THE ABOVE SKILLS ARE:
• LECTURES: A CAREFULLY ORGANIZED PROGRAMME OF HIGHLY INTERACTIVE LECTURES COVERING CORE MATERIAL
• PROBLEM SETS, REAL-LIFE CASE STUDIES, REAL DATA ILLUSTRATION AND ANALYSIS: TO ENCOURAGE STUDENTS TO ACQUIRE QUANTITATIVE SKILLS AND TO PROVIDE PRACTICAL EXAMPLES AND TO ALLOW STUDENTS TO APPLY THEORY INTO PRACTICE IN AN AUTHENTIC CONTEXT
• SEMINARS OF FINANCIAL ANALYSTS FROM US-MEDIOBANCA AND CERVED-CENTRALE DEI BILANCI: TO PROVIDE INFORMATION ABOUT SOME OF THE MOST WIDESPREAD FINANCIAL DATABASES
• INDIVIDUAL CONSULTATIONS WITH FACULTY: TO COMPLEMENT THE LECTURES AND ALLOW STUDENTS TO EXTEND THEIR UNDERSTANDING.

the course provides a practical instruction in how to develop a business plan for a small business start-up or expansion. Emphasis on importance of the plan components, format, marketing and financial projections and analysis.

The course has been designed in order to provide students with a thorough education and training in the conceptual framework and analytical tools of financial decision making of firms in manufacturing and tertiary industry, in line with the most up-to-date international standards in modern finance theory and practice. The course is aimed at deepening the theory and practice of corporate finance developed during the introductory-level course of Corporate Finance. It allows students to expand, improve and advance their knowledge in the major topical areas of corporate finance such as capital budgeting, estimating cost of capital, capital structure choice, and corporate governance.

The main topics of the course are as follows:

 Advanced evaluating risk in capital budgeting: sensitivity/simulation analysis and contingency planning
 Financial options and real options for evaluating investments and firms
 Investor behavior and capital market efficiency. Multifactor models of risk
 Mergers and acquisitions (M&A)
 Determinants of capital structure: theory and empirical evidence
 Rising equity capital: IPO and SEO. The Italian stock market’s role in firms’ financing
 Dividend policy
 Corporate governance: an international comparison

the course provides a practical instruction in how to develop a business plan for a small business start-up or expansion. Emphasis on importance of the plan components, format, marketing and financial projections and analysis.

THE AIM OF THE COURSE IS TO PROVIDE THEORETICAL SCHEMES FOR DERIVATIVES PRICING USING STOCHASTIC MODELS IN CONTINUOUS TIME AND TO STUDY QUANTITATIVE METHODS IN ORDER TO APPLY EVALUATION MODELS STARTING FROM OBSERVED DATA IN FINANCIAL MARKETS.

THE COURSE HAS BEEN DESIGNED IN ORDER TO PROVIDE STUDENTS WITH A THOROUGH EDUCATION AND TRAINING IN THE CONCEPTUAL FRAMEWORK AND ANALYTICAL TOOLS OF FINANCIAL ANALYSIS OF FIRMS AND SECTORS IN MANUFACTURING AND TERTIARY INDUSTRY. STUDENTS WILL DEVELOP A KNOWLEDGE AND UNDERSTANDING OF:
1. FINANCIAL PERFORMANCE OF FIRMS AND STRATEGIES
2. BUSINESS AND FINANCIAL RISK
3. FIRM’S FINANCIAL NEEDS AND FLOWS OF FUNDS ANALYSIS
4. CREDIT RISK AND RATING
5. WORKING CAPITAL MANAGEMENT (TRADE CREDIT-INVENTORY-LIQUIDITY).

STUDENTS HAVE THE OPPORTUNITY TO DEVELOP THE FOLLOWING SKILLS DURING THE COURSE:
• ANALYTICAL AND RESEARCH SKILLS: SKILLS OF PROBLEM DEFINITIONS; PROBLEM-SOLVING; DATA SEARCH, COLLECTION AND ANALYSIS FOR BUSINESS PURPOSES
• QUANTITATIVE SKILLS: THE ABILITY TO MANIPULATE AND INTERROGATE QUANTITATIVE DATA IN BUSINESS CONTEXTS
• QUALITATIVE SKILLS: THE EXERCISE OF CRITICAL INTERPRETATION AND JUDGMENT, THE WEIGHING OF EVIDENCE, AND THE DEVELOPMENT OF REASONED ARGUMENT, GROUP WORKING AND PRESENTATIONAL SKILLS.

TEACHING/LEARNING METHODS AND STRATEGIES USED TO ENABLE STUDENTS TO GAIN THE ABOVE SKILLS ARE:
• LECTURES: A CAREFULLY ORGANIZED PROGRAMME OF HIGHLY INTERACTIVE LECTURES COVERING CORE MATERIAL
• PROBLEM SETS, REAL-LIFE CASE STUDIES, REAL DATA ILLUSTRATION AND ANALYSIS: TO ENCOURAGE STUDENTS TO ACQUIRE QUANTITATIVE SKILLS AND TO PROVIDE PRACTICAL EXAMPLES AND TO ALLOW STUDENTS TO APPLY THEORY INTO PRACTICE IN AN AUTHENTIC CONTEXT
• SEMINARS OF FINANCIAL ANALYSTS FROM US-MEDIOBANCA AND CERVED-CENTRALE DEI BILANCI: TO PROVIDE INFORMATION ABOUT SOME OF THE MOST WIDESPREAD FINANCIAL DATABASES
• INDIVIDUAL CONSULTATIONS WITH FACULTY: TO COMPLEMENT THE LECTURES AND ALLOW STUDENTS TO EXTEND THEIR UNDERSTANDING.

the course provides a practical instruction in how to develop a business plan for a small business start-up or expansion. Emphasis on importance of the plan components, format, marketing and financial projections and analysis.

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