Course 2013-2014 a.y.

Go to class group/s: 31 - 32

CLMG (6 credits - I sem. - OP  |  SECS-P/09) - M (6 credits - I sem. - OP  |  SECS-P/09) - IM (6 credits - I sem. - OP  |  SECS-P/09) - MM (6 credits - I sem. - OP  |  SECS-P/09) - AFC (6 credits - I sem. - OP  |  SECS-P/09) - CLAPI (6 credits - I sem. - OP  |  SECS-P/09) - CLEFIN-FINANCE (6 credits - I sem. - OP  |  SECS-P/09) - CLELI (6 credits - I sem. - OP  |  SECS-P/09) - ACME (6 credits - I sem. - OP  |  SECS-P/09) - DES-ESS (6 credits - I sem. - OP  |  SECS-P/09) - EMIT (6 credits - I sem. - OP  |  SECS-P/09)

Course Director:
STEFANO BONINI

Classe/i impartita/e in lingua italiana

Obiettivi formativi del corso

Il corso intende integrare le conoscenze acquisite in materia di Finanza Aziendale ampliando il contesto alle aziende operanti a livello internazionale. Dopo avere analizzato le condizioni di equilibrio sul mercato valutario, si esaminano i temi di valutazione e gestione dei rischi di cambio, di interesse e politico, nonché le determinanti nelle scelte di funding sul mercato internazionale del debito e dell’equity, assicurando così una conoscenza trasversale e completa della finanza aziendale internazionale.
Il corso è arricchito dallo studio di casi aziendali reali e dalla testimonianza diretta di professionisti operanti in contesti internazionali.

Programma sintetico del corso

• Il sistema monetario internazionale.
• Legge di equilibrio sul mercato dei cambi.
• Gestione del rischio di cambio e strumenti di hedging.
• Valutazione e gestione del rischio politico.
• Il finanziamento sul mercato internazionale del debito e dell’equity.
• Scelte di capital budgeting sui mercati internazionali.
• Diversificazione e teoria di portafoglio internazionale.
• Aspetti di fiscalità internazionale.

Descrizione dettagliata delle modalità d'esame

For non-attending students
They are graded on a written exam based on the textbook only.

For attending students

They are graded on class participation and assignments in groups and a final written exam.

Testi d'esame

• C.S. EUN, B.G. RESNICK, International Financial Management, McGraw-Hill International Edition, 2009, 5^th ed.
• The textbook is integrated with additional teaching material, handed out to students during classes.

Exam textbooks & Online Articles (check availability at the Library)

Modificato il 29/03/2013 14:54

Class group/s taught in English

Course Objectives

This course complements and supplements the topics covered in the course of corporate finance, widening the context to firms operating internationally. After analysing the equilibrium conditions on currency market, topics of assessment and management of currency risk, interest risk, and political risk are examined, as well as the features that affect the funding options in the international market of debt and equity. This allows students to get a complete knowledge of international corporate finance.

The course also comprises real case studies and direct involvement of professionals working in international contexts.

Course Content Summary

• International monetary system.
• Equilibrium conditions of currency market.
• Management of currency risk and hedging tools.
• Assessment and management of political risk.
• Funding options in international markets of debt and equity.
• Multinational capital budgeting.
• International portfolio theory and diversification.
• International tax issues.

Detailed Description of Assessment Methods

Attending students
They are graded on class participation and assignments in groups and a final written exam.

Non-attending students
They are graded on a written exam based on the textbook only.

Textbooks

• C.S. EUN, B.G. RESNICK, International Financial Management, McGraw-Hill International Edition, 2009, 5^th ed.
• The textbook is integrated with additional teaching material, handed out to students during classes.

Exam textbooks & Online Articles (check availability at the Library)

Last change 29/03/2013 14:54