Educational objectives The main methodologies of corporate valuation are analyzed and the approaches commonly used by practitioners (financial analysts, investment and merchant banks, consulting firms) are critically discussed. Examples will focus on corporate valuation issues using DCF, stock market and deal multiples completed by industry-specific as well as case-specific valuation techniques.Students who have passed the examination will be able to analyze the conceptual and theoretical framework surrounding valuation issues and the practical tools to address such topics in real-life situations.
Students who have passed the examination will acquire the skills to pass the tests certification to practice as a chartered accountant and to play activity of counselling of professional accountancy.
|
Educational objectives To provide fundamental principles of multidimensional statistics for the study of complex phenomena at an exploratory non-probabilistic level. To learn the processes aimed at reducing the quantity of information by creating global synthetic indicators or multidimentional classification models. To experiment such methods in real data matrices in accordance with the data mining approach.
At the end of the course the student will be able to elaborate complex multidimentional data systems deriving from different types of databases. He will be able to choose the data mining technique more suitable to the analysis objective and to the type of data: quantitative variables as well as categorical variables (structured qualitative data) and textual data (unstructured qualitative data).
|
Educational objectives In-depth knowledge of accounting harmonization Issues. In-depth knowledge of the main international accounting principles (IAS/IFRS). Ability to critically analyze and interpret financial statements prepared according to IAS/IFRS standards
|
Educational objectives Starting from the premise that the market is a human construction, and it is by no means inconsistent with public intervention, the course illustrates the main public policies that may be defined “market friendly”. The focus of the course is on competition policy and on antitrust enforcement, but it cannot avoid stressing how the promotion of competition, the development of innovation and international competitiveness require public policies that make the transition socially sustainable. In this perspective, both competition policy and industrial policy require complementary welfare and labor policies.
More specifically, the course aims at introducing the students to:
- The origin and goals of Competition Law.
- The basic “ingredients” needed for the understanding of antitrust enforcement: Relevant Market, Market Power, Concentration.
- Peculiar types of markets: Differentiated markets, Contestable markets, Multi-sided markets.
- Actual and Potential Competition. Barriers to Entry and Barriers to Exit.
- The difference between Antitrust Enforcement and Advocacy, and the Powers of
Competition Authorities: investigation, dawn raids, fines, interim measures, commitments, settlements, remedies and market investigations.
For a better understanding of the intervention against Cartels and Restrictive Agreements the course provides a deep discussion about i) Explicit and Implicit Collusion; ii) Horizontal and Vertical Agreements; iii) the exceptions to the general ban on anti-competitive agreements, with particular attention to “Sustainable” Agreements and to the relationship between Competition and Sustainability.
Furthermore, the course deals with the assessment of Dominance and Abuse of Dominance.
Different types of Exclusionary Abuses (Predation, Tie-in, Margin Squeeze, Refusal to Deal and Access to Essential Facilities…) and Exploitative Abuses (Excessive Pricing) will be analysed.
Merger Control and the interlink with the need for strengthening competitiveness (particularly at the European level) will be the occasion to discuss the relationship between competition, scale, innovation and industrial policy.
Finally, the course aims at strengthening the ability of the students to analyse and critically assess the challenges raised for competition law by the Digital Economy, Artificial Intelligence and, more generally, disruptive innovation, with particular reference to the need for collaboration between Competition Authorities, Regulators and other complementary policies. Antitrust Law is not a sort of “Swiss Army Knife” and Competition Policy requires the support of other public policies aimed promoting Sustainability, fighting Inequality and promoting Welfare.
In order to make the students more familiar with the topics of the course, case studies and “mock cases” will be employed.
|
Educational objectives The course aims to provide students with a complete and updated preparation, also in terms of evolution and in the light of economic and regulatory variables, with reference to the law of the crisis of enterprises.
|
