Course 2015-2016 a.y.

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

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). 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 (M&A). 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 hedge funds and sovereign wealth funds will be 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

• Firms’ international demand for external financing.
• The international market for corporate control.
• International services undertaken by investment banks:

o Corporate finance advisory services.
o Client related trading and proprietary trading.
o Asset management, wealth management and research services.

• International regulation and supervision of the investment banking industry.
• Investment banking in an international perspective.
• Sovereign wealth funds, hedge funds and recent Wall Street innovations.
• 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”,  2012, Academic Press, Elsevier Inc, 2ND EDITION :

o Chapters: 1-6, 8, 10-12.

o Case studies (included in the textbook): 1-6, 8 .

• R.A. BREALEY , C.M. STEWART , A. FRANKLIN , “Principles of Corporate Finance”,   McGraw-Hill Companies:

o 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 11/06/2015 09:51