Course 2008-2009 a.y.

Course Objectives

The course is focused on the topic of finance at an international level. The content is divided into two parts: the first is dedicated to investment banking issues and the second to corporate finance issues. The aim is to give a broad picture about international finance management through both financial institutions and corporates. The first part of the course is focused on the analysis of investment banking activity in the perspective of financial intermediaries dedicated to the selling of products and services for corporate customers. The first part is divided into three sections: regulation and supervision, market and competition, management and financial instruments. The second part covers the classic topics of Corporate Finance, i.e. capital budgeting, pay-offs between shareholders and bondholders, cost of capital, designing optimal capital structures, advanced models for risk valuation and value creating strategies. Specific attention is given to international financial markets and multinational businesses. The whole structure of the course is applied, case based and oriented to developing both methodologies and practices.

Course Content Summary

Part 1(Investment Banking)

• Fundamentals, market analysis and business models of investment banking
• Regulation and capital adequacy for investment banking industry
• The management of investment banking: IPO's, Private Equity, LBO's

Part 2 (Corporate Finance)

• Investment decisions: applying the NPV rule
• Risk, return and the cost of capital
• Financing decisions

Detailed Description of Assessment Methods

For all the students joining the course, the exam is written and the valuation is completely based on the exam. For the students attending the sessions, two types of exam are available:

• one mid term and one final exam;
• one final exam only. In both cases, the valuation is based solely on both the topics developed with the instructors during the program and the suggested readings/slides.   

Textbooks

• Part 1: for all students attending the course, specific readings, slides, cases and software will be given through learning space for each session.
• Part 2: the textbook suggested is Brealey, Myers, Allen, Principle of Corporate Finance, Ninth Edition (International Student Edition), McGraw-Hill International Edition.
• Slides, cases and support material will be given through learning space for each session.