Course 2014-2015 a.y.

30151 - PRINCIPLES OF INTERNATIONAL FINANCE


CLEAM - CLEF - BESS-CLES - BIEMF

Department of Finance

Course taught in English

Go to class group/s: 31 - 32
CLEAM (6 credits - II sem. - OP  |  3 credits SECS-P/09  |  3 credits SECS-P/11) - CLEF (6 credits - II sem. - OP  |  3 credits SECS-P/09  |  3 credits SECS-P/11) - BESS-CLES (6 credits - II sem. - OP  |  3 credits SECS-P/09  |  3 credits SECS-P/11) - BIEMF (6 credits - II sem. - OBCUR  |  3 credits SECS-P/09  |  3 credits SECS-P/11)
Course Director:
PER LINUS SIMING

Classes: 31 (II sem.) - 32 (II sem.)
Instructors:
Class 31: PER LINUS SIMING, Class 32: PER LINUS SIMING



Course Objectives

The aim of this course is to give a broad picture about international finance management moving from the needs of the firm in terms of financing and corporate advisory services (demand-side approach) to the analysis of investment banking offerings (supply-side approach). Focus is not only on developed economies but also include emerging markets. The initial part of the course covers crucial topics of corporate finance, such as international demand for equity and debt financing, and the international market for corporate control. The course then center around the investment bank’s organizational structure and the products they offer such as M&A advisory services, issuance of equity, bonds and convertibles, and “sales and trading”. In addition, the activities of institutions that play an increasingly important role on international financial markets such as regulators (governments and central banks), hedge funds and sovereign wealth funds are reviewed. The whole structure of the course is applied, involves real-world examples and case studies, and is oriented to develop capabilities to understand and employ methodologies and practices used on global financial markets.


Course Content Summary

  • Key actors in international finance.
  • Firms’ international demand for external financing.
  • The international market for corporate control.
  • International services undertaken by investment banks:
    • corporate finance advisory services.
    • Client related trading and proprietary trading.
    • Asset management, wealth management and research services.
  • International and national regulation relating to financing activities.
  • Financing activities in emerging markets.
  • Sovereign wealth funds and hedge funds.
  • Several case discussions relating to the above topics.

Detailed Description of Assessment Methods

Course assessment for all students (attending or non attending) is based on one written closed book exam lasting 90 minutes at the end of the term. The exam consists of both multiple choice questions and open ended questions.


Textbooks

  • D.P. Stowell, Investment Banks, Hedge Funds, and Private Equity, Academic Press, Elsevier Inc, 2012, 2nd edition, Chapters: 1-6, 8, 11.
  • Case studies (included in the textbook): 1-6, 8.
  • R.A. Brealey, S.C. Myers, F. Allen, Principles of Corporate Finance, McGraw-Hill Companies, chapters: 14-15, 31, 33.
Exam textbooks & Online Articles (check availability at the Library)

Prerequisites

Knowledge of the basic topics covered in corporate finance and valuation courses, such as Bocconi courses 30017 and 30149.

Last change 30/06/2014 12:30