LAB - SOLUZIONI FINANZIARIE PER LE PMI
- Overview
- Assessment methods
- Learning objectives
- Contents
- Full programme
- Teaching methods
- Contacts/Info
There are no specific prerequisites for attending the course.
The exam consists of: - The preparation of a business case aimed at analyzing the information available for a financing case in one of the different phases of a company's life cycle; - A two-hour written test consisting of four open-ended questions, on the topics covered during the lectures, for attending students, and on the bibliography proposed for non-attending students. The ability to organize knowledge discursively, with depth of analysis, logic, rigor, and originality of any proposed solutions will be evaluated.
The course aims to provide students with fundamental skills regarding financial solutions to be considered in the different phases of a company's life cycle. The course consider the various actors, the different methods of presenting projects to be financed, and analyzes the most suitable financing instruments, also analyzing and verifying in practice some projects concretely presented to the investor market in the different life phases of companies. Within the context of changes proposed by the reference scenario, regulations, digital trasformation and the trends of the reference markets of funding sources in the start-up, growth, and restructuring and turnaround phases, cases will be presented and critical analysis, evaluation, management, monitoring, and reporting of the individual instruments analyzed will be discussed with students. It will start in the initial phases with instruments promoted by incubators, Business Angels, Crowdfunding, Venture Capital and move on to instruments for the growth of SMEs. The following will be explored in depth: the typical instruments of banking and financial intermediation; Private Equity; the agencies and instruments made available by public institutions (CDP, Simest, Sace, Central Guarantee Fund, Ministries and Regions, trade associations); the various forms of debt instrument issuance; the public capital market (ELITE and Italian Stock Exchange markets). Cases of turnaround and interventions carried out also through consulting interventions of Temporary Management will also be discussed. Analyses of the reference markets and studies that analyze the contribution of the different subjects involved in the various phases of solutions to the financing needs of companies will be made available to students. At the end of the course, the student will be able to: - Understand the scenario in which the various instruments present in the phases of a company's life cycle have been developed; - Understand the typical instruments in the growth phase of an SME and respond to the different financing needs; - Classify in an orderly manner and critically analyze the subjects that can intervene in the different growth phases of an SME; - Understand the context and discipline of the private and public capital market; - Illustrate practical cases of application of the various instruments; - Comprehend the operating dynamics of a financing project oriented to the growth of an SME; - Describe the process of financial and ESG reporting of an SME.
1. Start-up Phase: subjects, instruments, and practical cases. 2. Growth Phase: subjects, instruments, and practical cases. 3. Turnaround Phase: subjects, instruments, and practical cases.
The teaching material is as follows: “Il Nuovo Ecosistema Finanziario per le PMI. Le opportunità della digitalizzazione e dello sviluppo sostenibile” A cura di Rossella Locatelli e Cristiana Schena – Franco Angeli (2022) • 1.1.2.4. Le proposte della Commissione Europea a favore del progetto di Capital Markets Union Autore: Carlo Arlotta Pagine: 45 - 50 • 1.1.3.2. Il ruolo della finanza agevolata Autori: Carlo Arlotta e Gianluca Potenza Pagine: 59 - 62 • 1.1.3.3. Le misure di sostegno a favore delle imprese italiane in periodo di crisi pandemica Autori: Carlo Arlotta e Gianluca Potenza Pagine: 62 - 68 • 1.2.1. Le esigenze finanziarie delle PMI e i canali e gli strumenti a disposizione Pagine: 72 - 73, 76 - 77 • 1.2.3. Le problematiche delle PMI nell’accesso alle risorse esterne di finanziamento: evoluzione della struttura finanziaria e della rischiosità Pagina: 78 • 3.1.3. La raccolta di debito e di capitale tramite piattaforme di crowdfunding Autori: Alessandra Tanda e Valentina Marchesin Pagine: 230 - 234 • 3.1.4. La finanza integrata: strategie di partnership per la diversificazione dei servizi alle PMI Autori: Gianluca Potenza, Cristiana Schena e Alessandra Tanda Pagine: 243 - 250 • 4. Strumenti e percorsi di accesso al mercato per le PMI Pagine: 282 - 365 Il The professor will indicate during the lectures and by means of notices on the University e-learning site any mandatory and optional "Selected Readings" useful for taking the exam.
The lectures will be accompanied by seminar meetings with university professors and professionals, concerning specific parts of the program. During the lectures and seminars, teaching support material useful for the preparation of the exam will be made available to the students attending the course. For non-attending students, preparatory texts for the exam program will be indicated. The material will be uploaded on e-learning. The professor will indicate during the lectures and by means of notices any mandatory and optional "Selected Readings" useful for taking the exam.
The professor receives students on the day of the lecture from 1 PM to 1:30 PM.
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