CORPORATE FINANCE
No explicit prerequisites are required. However, a good knowledge of basic topics in Corporate Finance Principles, Accounting and Financial Statements, and Financial Intermediation Economics is recommended. No prior courses are mandatory.
The exam for both modules consists exclusively of a final written test, held in person. For Module 1, the exam lasts approximately 60 minutes and includes open-ended questions designed to assess theoretical knowledge and fundamental concepts of Corporate Finance, along with multiple-choice questions and a practical exercise or case study. The final grade is expressed out of 30, with a minimum score of 18/30 required to pass. Honors (cum laude) may be awarded in the case of a perfect score (30/30) achieved through an exceptionally meritorious written exam. No oral exams or interim assessments are provided. For Module 2, the final written exam lasts one and a half hours and consists of five open-ended questions. The evaluation considers the student’s comprehensive mastery of the subject matter and their ability to connect different topics covered in the course. Particular emphasis is placed on the ability to critically analyze content and contextualize the topics with respect to current economic events.
The first module focuses on advanced topics in corporate finance with a specific emphasis on value creation. The program aims to equip students with the skills necessary to support companies throughout different stages of their life cycle, from startup and growth to access to financial markets. It covers the most effective financial strategies for managing the growth phase, paying particular attention to opportunities offered by finance for startups, such as public funding, seed funding, crowdfunding, and the role of business angels. The module also addresses valuation methods and the operational principles related to Private Capital, particularly Venture Capital and Private Equity, as well as access to capital markets through bond issuance. A significant portion is dedicated to exit mechanisms from financial investments, analyzing in detail operations such as initial public offerings (IPOs), acquisitions, and mergers (M&A). The objective of this module is to develop the ability to make strategic financial decisions that are consistent with the company’s economic sustainability and aimed at maximizing value for stakeholders, integrating solid theoretical foundations with practical applications. The second module focuses on analyzing the main sources of financing available to companies, with particular attention to the most effective and sustainable solutions for small and medium-sized enterprises (SMEs). The perspective adopted is that of the entrepreneur, aiming to provide practical tools to address the various financial needs during different stages of the business life cycle. Topics covered include financing contracts and banking services, financial consulting, corporate and investment banking, as well as the role of institutional investors in equity capital. A portion of the course is also devoted to structured finance and solutions offered by the banking system for companies facing financial difficulties. By the end of the module, students will be able to analyze the main economic and financial variables useful for assessing the feasibility and sustainability of accessing different forms of financing and equity capital, understand the most effective ways to manage business risks, and evaluate the impact of financial decisions on the company’s overall risk exposure.