CORPORATE FINANCE AND VALUATION
cod. 1010842

Academic year 2024/25
1° year of course - First semester
Professor
Maria Gaia SOANA
Academic discipline
Economia degli intermediari finanziari (SECS-P/11)
Field
Aziendale
Type of training activity
Characterising
63 hours
of face-to-face activities
9 credits
hub: PARMA
course unit
in ITALIAN

Learning objectives

At the end of the course, students will have acquired:
a. the knowledge required to understand and make a correct diagnosis of company financial problems;
b. the knowledge of financial theory guidelines for optimize and critically thinking about financial solutions for companies in different competitive environments;
c. the ability to plan and monitor firm growth paths and critically assess financial sustainability using independent judgment;

d. communication skills with company and bank management in the analysis of evaluation models;
e. the knowledge of working methods for financial analysis and the ability to critically evaluate, with independent judgment, financial, environmental, social and governance (ESG) issues.

Prerequisites

Basic knowledge of spreadsheet analysis.
General program of corporate finance.
General program of mathematics.

Course unit content

The course focuses on the central issues of corporate financial management.
Specifically, the fundamental theoretical models and their operational applications in corporate finance decisions are investigated: capital budgeting, estimation of the cost of capital and capital structure. These are the main fields of activity of the Financial Manager.
The course aims to introduce students to corporate finance by providing them with a view of the theoretical models and their main practical applications, focusing on operational decisions.
Our first focus involves several issues about creditworthiness valuation. This concerns not only economic and financial issues, but also environmental, social and governance (ESG) issues. It is essential in this context to understand the evaluation logic adopted by the lender.
The course's second main focus concerns identifying specific topics involving chief financial officers. Each topic is analyzed considering the available instruments and the critical tools to bring under control.

Full programme

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Bibliography

Brealey, Myers, Allen, Sandri, Principi di finanza aziendale, MCGrawHill, 2020 (chapters 1-11, 14, 15, 18, 27).

Analisi Finanziaria, Mc GrawHill Education (2018), Regalli, Soana,
Tagliavini (a cura di), chapter 8.

Balluchi, F., Furlotti, K., La responsabilità sociale delle imprese, Giappichelli, Terza edizione, 2022 (chapters 1, 3, 6, 8, 9, 10).

Online course materials.

Teaching methods

• Knowledge and understanding: lectures
• Applying knowledge and understanding: exercises
• Making judgments: during the course, students will be encouraged to identify the strengths and weaknesses of the evaluation models and optimization of various aspects of corporate finance.
• Learning skills: for each topic the main problem to be solved will be introduced, and then the solutions adopted will be critically analyzed
• Communication skills: the teacher will illustrate the meaning of the most common terms used by the financial community.

Assessment methods and criteria

Written test. During the written test it is not allowed to consult any educational material or electronic device, except for the calculator.
The knowledge will be assessed with an open-ended question that will count to 2 points.
The ability to apply knowledge will be assessed with 2 exercises that will count up to 9 and 7 points, respectively.
The ability to communicate with the appropriate technical language will be assessed through an open-ended question about the meaning of the terms used by professionals in financial markets that will count up to 2 points.
The autonomy of judgment and the ability to learn will be assessed with two open-ended questions that will count up to 7 points each.
The "laude" will be attributed to the achievement of an evaluation of at least 31/32 points.
The results of the written exam are published on the ESSE3 portal and students can see the results of the tests, after appointment with the teacher.

Other information

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