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Finanziamenti d'azienda - ENG

Business Financing Course
Valerio Malvezzi

Economics Faculty
Casale Monferrato Campus
Total teaching hours: 48, for CFU 6

Course Syllabus

The course will proceed according to the teaching objectives, scientific content and didactic methodology adopted by the Economics Faculty over previous years, and thereto will be structured by and large as follows:

Teaching Objectives

The course will aim to:

- supply the necessary tools for interpreting the role of financial intermediaries in the context of the financial services market for companies
- develop knowledge and skills in the analysis of business financial needs and how these can be met
- gain a deeper understanding of the technical and economic characteristics of the various options for funding via equity or debt capital

Course reference material

- Capizzi V., Costo del capitale e operazioni di investment banking, Egea, Milano, 2003 (Esclusi i capitoli: 5, 7, 9, 13).

General Course Syllabus

- Introduction to the course.
- Distribution chains for business financing.
- Principles for financial analysis from the point of view of bank analysts: the theory of  value creation and estimating the cost of capital
- Banks’ assessment of  business financial needs
- Financial needs analysis for small and medium-sized businesses
- Analysis of the relationship between banks and companies and the role of credit providers in solving complex financial problems
- The process of credit allocation: Credit analysis
- Short-term financial instruments available from banks
- Mid-to-long-term financial instruments available from banks: secured and syndicated loans
- Non-bank financial instruments: leasing and factoring.
- Market financial instruments: commercial papers and corporate bonds
- “Near equity” financial instruments: Junior and mezzanine debt
- Non-monetary financial instruments: signature loans
- Subsidised loans: pre-requisites for, and donors and receivers of, the main forms of public financial support for businesses
- The business plan as a means of obtaining business funding
- The steps from the business plan to a wider corporate strategy

The general syllabus of the course will be taught over a cycle of 3 modules, as indicated below, with a description of the subjects dealt with and the content .

Detailed Course Syllabus

Specifically, the course will be structured as indicated in the table below:

Module I:    business financing and financing rules     (16 hours)
Module II:    cost of capital and financing instruments    (16 hours)
Module III:    business planning and fund raising    (16 hours)

Teaching methods

Class participation is suggested. The course instructor will use a balanced mix of different teaching methods; face to face lessons, exercises and simulations, studying of real business cases.

The exam will consist of a written test and an optional oral test.

For further information, please contact: valerio.malvezzi@eco.unipmn.it