First cycle
degree courses
Second cycle
degree courses
Single cycle
degree courses
School of Economics and Political Science
ECONOMICS AND FINANCE
Course unit
ADVANCED CORPORATE FINANCE AND ACCOUNTING
EPP6077359, A.A. 2017/18

Information concerning the students who enrolled in A.Y. 2017/18

Information on the course unit
Degree course Second cycle degree in
ECONOMICS AND FINANCE
EP2422, Degree course structure A.Y. 2017/18, A.Y. 2017/18
N0
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Degree course track Common track
Number of ECTS credits allocated 12.0
Type of assessment Mark
Course unit English denomination ADVANCED CORPORATE FINANCE AND ACCOUNTING
Website of the academic structure http://www.economia.unipd.it
Department of reference Department of Economics and Management
E-Learning website https://elearning.unipd.it/economia/course/view.php?idnumber=2017-EP2422-000ZZ-2017-EPP6077359-N0
Mandatory attendance No
Language of instruction English
Branch PADOVA
Single Course unit The Course unit CANNOT be attended under the option Single Course unit attendance
Optional Course unit The Course unit can be chosen as Optional Course unit

Lecturers
Teacher in charge MICHELE PINELLI 000000000000
Other lecturers FABIO BUTTIGNON SECS-P/09

ECTS: details
Type Scientific-Disciplinary Sector Credits allocated
Core courses SECS-P/07 Business Administration 12.0

Course unit organization
Period Second semester
Year 1st Year
Teaching method frontal

Type of hours Credits Teaching
hours
Hours of
Individual study
Shifts
Lecture 12.0 84 216.0 No turn

Calendar
Start of activities 26/02/2018
End of activities 01/06/2018

Examination board
Board From To Members of the board
1 Commissione AA 2017/18 01/10/2017 30/09/2018 PINELLI MICHELE (Presidente)
BUTTIGNON FABIO (Membro Effettivo)
PUGLIESE AMEDEO (Membro Effettivo)

Syllabus
Prerequisites: Basic knowledge of business economics, corporate finance and accounting
Target skills and knowledge: Advanced knowledge of: Reformulation of the financial statements; Firm Valuation; Earnings forecasting; Growth Analysis; Financial planning and Analysis; M&As; Private Equity; Financial restructuring.
Examination methods: Written exam (open and/or multiple choice questions and/or exercises)
Assessment criteria: Students will be graded based on their conceptual understanding of the topics as well as on their ability to properly apply such concepts and related methodologies
Course unit contents: Module A (taught by Michele Pinelli)
- Financial statements' analysis and reformulation
- Valuation models (DCF,DDM, RE, AEG)
- Analysis of profitability
- Analysis of sustainable growth
- Simple Forecasting and Valuation
- Full Pro Forma Analysis, Risk, and Sensitivity Analysis
- Quality Analysis of the Financial Statements

Module B (taught by Fabio Buttignon):
- Corporate portfolio strategy (best owner principle and steps in constructing a portfolio of businesses);
- Capital structure (debt and equity - level and framework - to support business and corporate strategy);
- Venture capital and private equity (features and role in supporting firm growth and restructuring);
- Debt offering;
- Equity offering (IPO);
- Mergers and acquisitions (tools for corporate growth and restructuring);
- Financial restructuring (financial tools for managing the firm’s financial and operating crisis)
Planned learning activities and teaching methods: Lectures, conceptual and practice exercises, case analysis
Additional notes about suggested reading: Course materials on the e-learning platform include support charts, papers, and excel files templates.
The following book provides a good introduction to the course:
Koller, T., Goedhart M., and Wessels, D. Valuation. New York: John Wiley & Sons, 2015, 6th edition.

Useful Websites:
http://people.stern.nyu.edu/adamodar/. Website of prof. A. Damodaran, to search for market data and other materials for corporate valuation and case study.
http://www.borsaitaliana.it/azioni/azioni/azioni.htm. Website of Borsa Italiana, to search for materials for the case study (Documents and reports, Study researches).
http://it.reuters.com/investing/stocks. Useful website for extracting data of listed firms (financials, multiples and beta included)
https://seekingalpha.com/. Useful website for extracting data of listed firms (financials, multiples and beta included)
Textbooks (and optional supplementary readings)
  • Penman, Stephen H., Financial statement analysis and security valuation (5 ed.). New York: McGraw-Hill education, 2013. Cerca nel catalogo
  • iannotta G., Investment Banking: A Guide to Underwriting and Advisory Services. --: Springer, 2010.

Innovative teaching methods: Teaching and learning strategies
  • Lecturing
  • Problem based learning
  • Case study
  • Interactive lecturing
  • Questioning
  • Active quizzes for Concept Verification Tests and class discussions
  • Loading of files and pages (web pages, Moodle, ...)

Innovative teaching methods: Software or applications used
  • Moodle (files, quizzes, workshops, ...)
  • MS Excel