The course has the objective to lead students to build operative,Excelbased models for capital budgeting decisions, bond and stock valuation, calculation of the cost of capital, company valuation. To reach this objective, the course will strengthen the theoretical and methodological bases of the students and present data cases to apply theories and methods to real world problems.

Knowledge and understanding The course will strengthen the theoretical and methodological foundations of advanced topics in corporate finance. It will offer also practical tools to manage real financial problems. Applying knowledge and understanding Students will be able to assess the role of the financial manager and the impact of his decisions on company’s value creation process, to apply Investment decision making techniques, within different scenarios and uncertainty; to apply the main analytical tools, functions and online resources for business and financial modeling. Making judgements Students are expected to acquire the ability to collect and interpret real financial data in order to deal with investment decision analysis and to judge company’s value creation process. The Course will lead students to solve and manage real business cases both at Corporate and Business levels. Communications Skills Students will develop the ability to communicate the problem solving and the financial analysis both in written form (texts and exercises) and in oral form by attending individual and group teaching activities. The enhancement of written and oral communication skills will be also encouraged by the optional participation in group work and business cases’ analysis during the Course. The communication skills will in particular be oriented to the critical analysis and solution of financial management problems within the company in different economic and business contexts, as well as to the development of active and critical comparisons with respect to the business issues addressed. Learning skills Students will acquire the knowledge and analysis tools that will allow them to deal with financial problems in a complex and dynamic context. Students will acquire the basic theoretical and practical knowledge to act as independent financial analyst. They will be able to develop discernment skills of the various problems relating to investments and the acquisition of financial resources by companies following strictly financial logics; these skills will be preparatory to the development of further advanced specialized knowledge which can be acquired through both further studies foreseen in the Degree Program and the learning experiences in the workplace.

ADVANCED CAPITAL BUDGETING 1) Free cash flow models 2) Sensitivity analysis VALUING BONDS AND STOCKS 1) Valuing bonds 2) Valuing stocks FUNDAMENTALS OF COST OF CAPITAL 1) Capital markets and the pricing of risk 2) Applications and estimation of Capital asset pricing model CAPITAL STRUCTURE AND VALUATION 1) WACC 2) Adjusted Present Value 3)Flow to Equity 4) Business Valuation

Berk, J., & DeMarzo, P. (2020). Corporate Finance (Fifth, Global Ed.). Pearson Papers and additional readings will be available on Luiss Learn

The course is structured into online and on campus sessions focused on the following learning levels: • Theory: the presentation of the main financial issues, rules and techniques • Applied theory, that is a focus on practical application of the financial rules in real contexts • Practice, that is, the ability to solve financial problems and to test the techniques presented. In addition to that, classroom exercises, cases, assignments and external professional guests will complete the educational offer. In details, sessions will focus on: - traditional lectures - individual exercices - cases studies - assignments - computer lab sessions

Attending Student's assessment (final grade) is composed by - written test (30%) - Advancement Test (20%) - Group work on data cases (20%) - Group work on a final assignment (30%); Not Attending Student's assessment is composed by: -100% written exam. The exam will have questions on all material covered during lessons, including data cases. Attending students who reject the final grade must take during the retake exam session: - 100% written exam. The exam will have questions on all material covered during lessons, including data¬¬ cases. Detailed info will be available during the first session of the course

Only students that have passed the exam can apply for the "thesis assignment process" Students have to prepare a research proposal based on a short presentation (maximum 3000 words in .doc) which must include: - Object (research question, business scope/market or industry/product or service) - Research objective - Literature review - Main contribution of the research - Research Method/Data Collection Proposals should be submitted not later than 2 weeks before the administrative deadline for thesis assignment set by the University

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