CORPORATE FINANCE

1. Knowledge and understanding. Students will be able to (a) develop “conceptual maps” of the main topics of the course; (b) classify and manage the main issues addressed by the Chief Financial Officer (CFO); (c) link information and data in order to define value judgments, projects, and proposals related to the firm’s financial situation.

2. Applying knowledge and understanding. Although the course is designed to deliver solid theory, it is also oriented toward practice. At the end of the course, students will be able to work within the finance operational levels. Students will receive applicable knowledge regarding financial statement analysis, investment and financing decisions, and firm valuation. The teaching approach emphasizes a continuous balance between theoretical knowledge and the acquisition of professional skills. Case studies and structured exercises follow the presentation of the theoretical arguments. Classwork and homework are to help students apply analytical tools and concepts in order to interpret and solve financial problems.

3. Making judgments. At the conclusion of the course, students will be able to prepare thorough and wellstructured assessments of investment and financing decisions, and to report on firm valuation in accordance with the highest professional standards. Moreover, students will be able to integrate the concepts related to this course with the knowledge acquired in others academic courses. In particular, students will be able to understand the importance of the interfaces between finance and strategic management (as studied in the Business Economics and Management course). As a result, students gain the ability to re-work and critical apply the knowledge and skills accrued as a whole. Finally, this course provides students the background needed for the Management of Financial Intermediation and Banking course (a compulsory third year course for a Business Administration degree).

4. Communication skills. Students will be able to explain, in writing and orally, the main corporate finance concepts using appropriate technical language. In addition, since the course is strongly oriented toward practice, students are encouraged to submit their analyses, projects, and proposals. Finally, communication skills will be developed through classroom discussions on case studies and articles from national and international financial publications.

5. Learning skills. The course delivers a broad theoretical framework adequately supported by practical applications. Students will be able to individually deepen and extend the knowledge gained on advanced corporate finance topics. Additionally, students will be able to bridge the finance content receive to other business functions.

This course addresses the main economic and management aspects and the fundamental decision-making logics related to corporate finance. The course provides an exhaustively appreciation of the way companies make investment decisions, and how they finance their investments. The influence of financing and investment decisions on the firms' capacity to create value will be highlighted.

Reference text (alphabetic order):

TEXT 1: Brealey, Myers, Allen & Sandri (2014), Principi di Finanza Aziendale, Mc Graw Hill (11° edizione).

TEXT 2: Bubbi (2007), “La misura del valore”, in Martinelli, Economia e Gestione delle Imprese, Egea.

TEXT 3: Dallocchio & Salvi (2011), Finanza Aziendale 1, Egea.

TEXT 4: Guatri & Bini (2007), La valutazione delle aziende, Egea.

TEXT 5: Metallo (2013), Finanza sistemica per l’impresa, Giappichelli.

TEXT 6: Zanda, Lacchini & Onesti (2013), La valutazione delle aziende, Giappichelli.

Lecture, slides, announcements, and some course readings and materials will be posted on http://studium.unict.it. Students are expected to check the studium site regularly for announcements and to upload completed assignments to the site.