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. 2019/20

Information concerning the students who enrolled in A.Y. 2019/20

Information on the course unit
Degree course Second cycle degree in
ECONOMICS AND FINANCE
EP2422, Degree course structure A.Y. 2017/18, A.Y. 2019/20
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
Department of reference Department of Economics and Management
E-Learning website https://elearning.unipd.it/economia/course/view.php?idnumber=2019-EP2422-000ZZ-2019-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 ANNA ALEXANDER VINCENZO SECS-P/07
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 02/03/2020
End of activities 12/06/2020
Show course schedule 2019/20 Reg.2017 course timetable

Examination board
Board From To Members of the board
3 Commissione AA 2019/20 01/10/2019 30/11/2020 ALEXANDER VINCENZO ANNA (Presidente)
MENINI ANDREA (Membro Effettivo)
PILONATO SILVIA (Membro Effettivo)

Syllabus
Prerequisites: Corporate Finance (Financial Analysis and Planning, Investment Valuation, Valuation of Shares and Bonds, Financial Structure)
Financial Accounting (Construction and analysis of consolidated financial statements)
Target skills and knowledge: Business valuation
Earnings forecasting
Analysis of growth
Analysis and financial planning
Mergers and Acquisition
Private Equity
Financial restructuring
Examination methods: Written exam with open and multiple choice questions and exercises ( Mid-term exam and group presentations)
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: Part A (instructor: Anna Alexander Vincenzo)
Introduction to financial accounting
Valuation models: Analysis of Comparables, Asset-based Valuation, Discounted Cash Flow model (DFC), Dividend Discount model (DDM), Residual Earnings model (RE), Abnormal Earnings Growth model (AEG)
Analysis of profitability
Analysis of sustainable growth
Firm valuation and Simple Forecasting
Valuation of financial statements quality

Part B (instructor: Fabio Buttignon):
Portfolio strategies (best owner principle and business portfolio construction)
Capital structure (alignment of financial structure with corporate structure)
Venture capital e private equity (role and characteristics in support of business growth and corporate restructuring)
Emission of debt
Tender offer
M&A
Financial restructuring (tools for managing operating and financing crisis)
Planned learning activities and teaching methods: Lectures, conceptual and practice exercises, case studies (Excel)
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, --. Cerca nel catalogo
  • Iannotta, Giuliano, Investment banking: A guide to underwriting and advisory services. --: Springer, --. Cerca nel catalogo