UNIVERSITY OF PERUGIA DEPARTMENT OF ECONOMICS DEGREE COURSES IN AMMINISTRAZIONE E LEGISLAZIONE AZIENDALE - ECONOMIA E MANAGEMENT FINANZA E METODI QUANTITATIVI PER L’ECONOMIA COURSE OF CORPORATE FINANCE (2014-2015) (Prof. LORIS L. M. NADOTTI - CFU: 9) Purposes of the course: The course is devoted to the description and the practical application of tools and advanced techniques of enterprise financial management. It aims to provide useful knowledge to determine the financial needs, to design new business initiatives and control on the creditworthiness and the solvency. In particular, we examine the issues related to the financing of new companies and the following general topics: the contents of the financial function; the determination of the multiannual financial needs and the management of working capital; management of bank loans and venture capital; analysis and management of the enterprise value; the financing of innovation and start-up business. Topics of the Course: - - Tasks and evolution of the financial function in the enterprises. The financial function in small and medium enterprises and in start-up business. The analysis, in the financial perspective, of the economic and accounting data of firms for the assessment of creditworthiness. Tools and methods for the analysis of industrial investments. Financial plans and definition of business objectives. The social venturing and the impact investing. Preparation and use of business plans for start-ups. Growth of the business and financial needs: an analysis of the sustainable development. Long-term financial needs and the preparation of forward-looking balance sheets. The financial requirements for working capital and the management of bank loans. The financing of fixed capital. Financing with medium-long term debt. The financing from the market by venture capital. The financing of the innovation of enterprises. The capital increases and the evaluation of the "intangible" assets. The value of planning in firms: risk, cost of capital, economic value added. Research and innovative start-ups. The financing of the innovation. The Italian provision for innovative startups. The spin-off of research, support services and incubation in Italy. Basic reference textbooks: - Nadotti L. (edited by), Finanziamenti d’impresa, Milano, collana CREATE - Mc Graw-Hill, 2014. - Nadotti L. (edited by), Planning and financing of startup businesses (Progettazione e finanziamento delle imprese startup), Turin, ISEDI – De Agostini Scuola, 2013. (The text is available for download, by paying a lower price than the print edition, on page www.readmelibri.com, entering as a key word to search the author's name ("Nadotti") or a word that is in the title of the book). Detailed description of the exam: - Written exam of three open-ended questions, that has the function of admission to the oral examination, which is held on the same day or the days immediately following the written exam. - For students who attend classes it is expected, during the teaching break of November, a mid-term practical exam, of which results will contribute to the overall assessment of the exam incurred within the month of February 2015. Books for further study: - Brealey R.A., Myers S.C., Allen F. and S. Sandri (2011), Principles of Corporate Finance 6/ed. (Principi di Finanza aziendale 6/ed,), McGraw-Hill, Milan. - Dessy A. and J. Vender, Venture capital and enterprise development (Capitale di rischio e sviluppo dell’impresa), Milan, Egea, 2001.