Ateneo - UPO

The course is focused on the major decision to be taken by a financial manager: the evaluation of alternative investment opportunities available to any firm and the choice of the most adequate financing mix, also considering the specific stage in the life cycle of any given firm.
The course goals will be achieved when the student is able to identify and meet all the critical challenges associated to modern corporate finance, including the capability to take value creating investment decisions and eventually design sound fundraising strategies.

The instructors will provide articles, slides, case studies and working papers in order to deepen specific course topics.

Knowledge and understanding: the basic knowledge necessary to understand the basics of corporate finance. More in details, the capability to face two fundamental issues: how to choose the right investment opportunities and how to design an appropriate fundraising strategy aimed at financing the selected investments.
Applying knowledge and understanding: the ability to apply finance tools and methodologies required in order to: critically evaluate investments and companies, perform financial analysis, design sound funding strategies. identify the right financing facilities available in the different stages of the life cycle of a firm (debt, equity, mezzanine finance; public capital markets vs. private capital markets).
Making judgements: the ability to make own financial valuations, on a comparative basis, leveraging on both the knowledge developed in class and the real cases shared by the instructors. Furthermore, though the active learning based teaching methodology, the ability to solve complex problems, consistently with the expected requirements for corporate finance managers and advisors.
Communication skills: the ability to use the appropriate technical language used within the corporate finance industry.
Learning skills: the ability to identify and solve corporate financial needs the evaluation tools and methodologies taught, models and transactions. Students will be provided with the major sources of literature and data required to both take finance decisions and make scientific research in the field of corporate finance.

None.

Knowledge and understanding: face-to-face lessons, analysis and discussion of case studies. Lecturers and professionals coming from all over the world, with strong reputation in the field of corporate finance, might be involved in class as guest speakers.
Applying knowledge and understanding: face-to-face lessons, case studies, exercises.
Making judgements: case studies and assignments proposed during the course aimed at stimulating students’ problem solving aptitude dealing with investment decisions, financial management and fundraising strategies.
Communication skills: during the course the lecturer applies and explains terms commonly used in the financial community.
Learning skills: alongiside theoretical lectures the instructors might provide questions, case studies and assignments that are eventually illustrated and discussed during the course.

Class participation is not compulsory. A specific “participant track” will allow attending students sustaining specific cases and assignments to gain some points, which will contribute to the final grade.

One compulsory written exam (closed books closed notes) constituted of both closed question and open questions with a 60 minutes duration, covering the whole course program, as faced in the required teaching material.
Knowledge and understanding: by written open questions and closed (multiple choice) questions.
Applying knowledge and understanding: through exercises and closed questions
Making judgements: by written open and closed questions.
Communication skills: by written open questions.
Learning skills: by one midterm exam during the course.

1. Course introduction
2. The basics concepts of corporate finance
3. Investment decisions
- Different typologies of corporate investments
- Investments evaluation criteria
- The net present value and the discounted cash flow analysis
- Estimating cash flows and cost of capital (basics)
4. Financing facilities
- Equity financing facilities
- Debt financing facilities
- Mezzanine financing facilities
5. Fundraising strategies
- Capital structures theories
- Identifying the sustainable leverage ratio
- Valuing on a comparative basis the best suited financing facilities for any given firm
6. Available fundraising options to startups and early-stage companies
- Firm life cycle, funding gap and available funding facilities
- Startups and venture capital
- Startups and equity crowdfunding
- Startups and Business Angels
- Other seed investors (Business Incubators, Startup Accelerators, Science & Technology Parks, Venture Builders)

- The ability to identify and meet all the critical challenges associated to modern corporate finance
- The ability to evaluate and select the right corporate investment opportunities.
- The ability to build sustainable capital structures
- The ability to compare the convenience of alternative financing facilities
- The ability to select the right funding strategy for startups and early stage ventures.