FINANCING HIGH GROWTH FIRMS

The course is one of the training activities that characterize the degree course. Its goal is to provide students with basic knowledge on the logic that guide the collection and use of financial resources in the company, with a focus on the drivers of business growth.

Knowledge and understanding:
1) knowledge and understanding of the determinants of short and long-term financial needs
2) knowledge and understanding of the risk-return relationship
3) knowledge and understanding of the main sources of financing for the company to support growth

Ability to apply knowledge and understanding:
1) knowing how to determine the cash flows for the company, from a historical and prospective perspective
2) knowing how to evaluate the profitability of a business investment

Judgment skills:
1) knowing how to choose the most suitable source of financing for the type of financial requirement;
2) knowing how to understand the risk profile of the various financing transactions.

Basics of financial statement analysis

The course deals with the following topics:
1) Determination of cash flows
2) Self-financing and management of working capital
3) Forecast of short-term cash flows
4) Short-term sources of financing
5) Evaluation of investments
6) Sources of medium / long-term financing: stocks and bonds
7) (continued) Private Equity and Venture Capital
8) The listing processes: IPO and SEO
9) Basics of the cost of capital

Watson, Head, Mantovani, Rossi. Corporate Finance. Principles and practice in Europe, Pearsons, Milano, Ed. 2016 in English, e-book

ATTENDING STUDENTS:
For attending students, the exam will be based on a written part (60% of the final grade) and on the presentation of a group work (40% of the final grade), to be carried out in the last days of class.
The written exam for attending students consists of 15 multiple choice questions, in 45 minutes. The exam is considered passed with a score greater than or equal to 9/15.
The group work will consist of an in-depth study chosen from the tracks indicated on the Moodle page of the course, where the operational indications will also be present. It should be done in groups of 3-5 students. Once delivered, it will no longer be revisable / amendable and as such the grade assigned, expressed out of thirty, will also be.

For the purpose of calculating the final exam grade, students must pass the written exam.

NON ATTENDING STUDENTS:
For non-attending students, the assessment will be based only on the written exam, which will consist of 30 multiple choice questions in one hour of time. The exam is considered passed with a score greater than or equal to 18/30.

For everyone:
Each correct answer of the written exam is worth 1 point, without penalties for errors. The written exam verifies the general knowledge of the course topics. It is not allowed to use notes, materials delivered in class, slides, mobile phones or other devices during the test.

The attribution of honors is at the discretion of the teacher, following the achievement of the maximum score.

The course consists of 6 hours per week, which amount to 30 hours in total. For each of the five topics of the course, three classes will be held in order to learn: (i) the main theoretical subjects; (ii) the best practice; (iii) the actual application through mini-cases and practical examples.

English

In cases of emergency due to Covid-19 teching and exams could undergo some changes, in order to safeguard students.

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