Financial institutions, international finance and risk management

GIOVANNI PALOMBA

To deepen the knowledge of Corporate Finance principles in a different economic and financial context: from the firm to the group of firms; from a domestic to the international market; from one interest rate to multiple interest rates controlled by several monetary authorities; from one currency to multiple currencies; from national price dynamics and national inflation to international prices dynamic and international inflation.
It is expected to develop the financial management and the Value Creation Theory (fundamentals have been considered within the Corporate Finance unit of undergraduate program) in a growth management perspective (it is faster for start-up firm) considered the larger international scale in which bank, insurance companies and enterprices work.
Students who have passed the exam will be able to apply the principles and models that allow you to appreciate the growth and internationalization strategies of multinational companies in the context of the economic value

The International Finance course aims to develop students' understanding of the main issues of corporate financial management considering a global competitive environment and international financial markets.

It concerns both the decision-making of analysis and selection of foreign investments, and the planning and control of sources of funding.

The main objective of this course is to provide the relevant financial factors that affect multinational companies operating in global contexts, focussing on the practical application of business finance methods and models, and explaining how financial decisions can be consistent with the theory of value creation. The course also focusses on some of the factors a company faces when making a foreign investment or when using the international capital market, which it does not do when playing in a domestic competition.

Knowledge and comprehension skills

At the end of the course the student will be able to have an organic set of useful knowledge:

 To interpret the modern entrepreneurial phenomenon and new business models in a financial way;

 To understand the role of Corporate Finance in the definition of international business strategies;

 To recognise the typical role and responsibilities of the Financial Directorate in the various stages (start-up, continuity, crisis) of the life of companies operating in international contexts

Autonomy of judgement

At the end of the course, the student will be able to have the critical analysis tools necessary to interpret and address with autonomy of judgement the main issues concerning the direction and financial management of companies operating in international contexts.

Communication skills

The student will acquire the ability to communicate and express with properties of international financial language the knowledge acquired during the course

Ability to learn

At the end of the course, the student will have the conceptual tools and knowledge necessary to continue their studies in the field of finance, financial analysis and International Corporate Finance

The first part of the course foresees an alignment of the competences of the students and the adopted text provides tools to acquire indispensable, important and useful knowledge that someone does not have.

Section I: Corporate Finance

Palomba G., Gennaro A. (2022), Finanza Aziendale. Analisi, decisioni e valutazioni finanziarie, McGraw-Hill

PARTE PRIMA – FONDAMENTI

PARTE SECONDA – FINANZA STRATEGICA E ANALISI FINANZIARIE

PARTE TERZA – POLITICHE FINANZIARIE

PARTE QUARTA – MERCATI E VALORE


Section II: International Finance

Ross – Chapter 21: International Corporate Finance

For the Section dedicated to Corporate Finance:
Palomba G., Gennaro A. (2022), Finanza Aziendale. Analisi, decisioni e valutazioni finanziarie, McGraw-Hill

For the Section dedicated to International Finance:
Ross, R Westerfield, B D. Jordan (2018), Fundamentals of Corporate Finance, McGraw-Hill Education

The lectures are organized in addition to the theoretical treatment, including applications (support to prepare the student on the level of know-how) and checks (guided, individual) of the degree of learning.

Each participant, following the instructions provided in the classroom, will complete his / her own preparation by studying and deepening the parts of the textbook linked to the lessons.

All students, even those who do not attend the course, produce (and submit to the exam) appropriate work aimed at finding the level of applicability of the studies carried out.

The lessons include: exposure of theories and models; practical applications; presentation of case history; checks (designed to detect the progression of student learning).

The course is delivered exclusively in person; in order to recognise the expected ECTS, Students who decide not to attend the course present themselves to the exam test with the same applications-type as the attending Students (individual applications: will be assigned by the Teacher following a request to be made during office hours) to find the level of actual application capacity achieved.

The exam consists of a written test and an oral test.
At the written exam each Candidate presents his/her own individual paper (mandatory in order to pass the exam) required by the course and assigned by the Teacher.
The oral exam requires passing a preliminary written exam aimed at determining the breadth and depth of the basic preparation as well as the operational skills acquired.
All Students must register for the exam through the Infostud system, to allow the organization of the exam, the booking of the classroom, the production of the Candidates' attendance sheets.
Students are invited to plan the exam in advance and to take adequate care of their preparation by following the instructions provided in the program.

The exam questions are based on the study program