BUSINESS STRATEGY AND AUDITING
Academic year and teacher
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- Versione italiana
- Academic year
- 2015/2016
- Teacher
- GIUSEPPE MARZO
- Credits
- 7
- Curriculum
- Impresa e mercati internazionali
- Didactic period
- Secondo Semestre
- SSD
- SECS-P/07
Training objectives
- The course’s goal is to introduce and discuss decision making oriented to strategically management firm’s value. Project investments appraisal, firm valuation, capital structure decisions and business and financial risk management will be deeply analysed.
Relationships between strategy, firm’s value and management systems will be fully explored.
At the end of the course the student is able: - to analyse and assess investment project decisions; - to understand the interaction between risk and return; to analyse project-related risks; to increase the value of investment projects leveraging on decision flexibility (real options). Prerequisites
- Basics of financial accounting, statistics, mathematics
Course programme
- Part 1. Introduction to value and risk of investment projects (9 h).
Value, risk, strategy and firm.
Project investment appraisal: analysis, valuation, management and control
Part 2. Techniques for investment projects appraisal (18 h)
The discounted cash flows techniques
Other techniques
The Weighted Average Cost of Capital
Part 3. Managing risk, value and flexibility of investment projects(21h)
Risk management
Business risk
Financial risk
Rating simulation
The Real Options Analysis and Valuation: theory and cases
Analysing and managing the project’s risk: Sensitivity analysis and Monte Carlo simulation
Real Options, strategy, organisation and management control systems
Part 5. Capital structure decisions (9 h)
Theories on capital structure decisions
Capital structure decisions and the theory of the firm Didactic methods
- Lectures and case studies
Learning assessment procedures
- Written examination.
Information about examionation and grade are available here: http://www.unife.it/economia/economia/insegnamenti/economia-aziendale-a-k/esame Reference texts
- For non-Italian speaking students course materials will be identified upon request.
