Damodaran A. Applied Corporate Finance, Wiley 3rd edition.
Obiettivi Formativi
After completing this course, the student will be able of:
- Choosing the investment according the value maximization criteria;
- Determining the “optimal” capital structure”: mix of debt and equity for each business;
- Determining the dividend yield to be returned to the shareholders and the buyback policy;
- Understanding and using the basic tools to estimate the value of companies.
Prerequisiti
Finanza Aziendale
Metodi Didattici
Class meetings
Altre Informazioni
Students enrolled in the Fall 2012 class can access to the curse materials using the platform www.lore.com Non attending students are asked to contact the professor for information
Modalità di verifica apprendimento
Assignments 20% + FInal 80%
Programma del corso
Syllabus
General Information
Office: D6 room 3.55; Phone: 0554374720; E-mail: oliviero.roggi@unifi.it
Office Hours: Monday 4 pm – 5 pm and Tuesday 11 am – 12pm (only for dissertation)
Class Schedule and rooms:
Monday 10:15-11.45 Room D6/007
Wednesday 16:15-17:45 Room D6/111
Thursday 12:00-13:30 Room D6/001
Course description
This is an advanced course in corporate finance. The course’s first module has the following objectives:
- Developing an understanding of the advanced tools that are used to value investment projects and companies (capital budgeting).
- Understanding the issues involved in how firms should raise funds for their real investments (financing).
- Evaluating the investment and financing decisions.
- Evaluating the firm’s dividend policy.
After completing this course, the student will be able of:
- Choosing the investment according the value maximization criteria;
- Determining the “optimal” capital structure”: mix of debt and equity for each business;
- Determining the dividend yield to be returned to the shareholders and the buyback policy;
- Understanding and using the basic tools to estimate the value of companies.
The second part of the course (3 CFU) will be offered in the form of seminaries dedicated to both debt securitization and equity operations. In particular we will cover the following topics:
- Pro-forma statement;
- Leveraged buy out, corporate high yield bonds and mezzanine financing;
- Initial public offering (IPO)
- Private equity
Required Materials
The information about this course and all related materials will be available through the web platform www.lore.com. During the first class the course reference code to access to the contents will be communicated.
The class detailed schedule will be available on www.lore.com together with all other course details.
Lecture Note Packets : The hands-out materials (slides) will be available before class on Lore.
Text Book: Applied Corporate Finance: A User’s Manual (Third Edition) by Aswath Damodaran
Author Book Description Website
Aswath
Damodaran Applied Corporate Finance: A User’s Manual (Third Edition) It has almost all of the material of the class (barring the more recent updates) and has problems at the end of every chapter. http://www.stern.nyu.edu/~adamodar/New_Home_Page/ACF3E/appldCF3E.htm
Exams and grading
The course grading is based on individual assignments all along the semester and a final exam. The final is a two hours written exam.
Final exam: The Final is scheduled the last day of class.
The problem sets are intended to help the student to develop a better understanding of the topics and to prepare the final exam. The problem set will be handed in class and are due one week after they are distributed. Problem set are individual assignment. One problem set randomly selected among the one distributed will be graded.
The weights I will be using to come out with your final grade are the following:
Weights
Problem set 20%
Final exam 80%
Rules of Engagement
• Rules on individual work
o All exams and assignment are strictly individual work.
o If you miss the final due to health problem, you will be evaluated based on a oral exam.
Attendance
Class attendance is essential to your success in this course. In class interaction and examples enrich the hands-out and the book materials and it allows you to have a better understanding of the discipline.