Financial management and markets Presentation of the second part of the course Nadia Linciano Financial management and markets LUMSA, 20 November 2019
Nadia Linciano Views and opinions are mine and cannot be attributed to Consob LUMSA, 20 November 2019
Contents - 1 - The second part of the course is focused on the role of the financial system as a source of funding for firms, also in the light of the current European regulatory framework Key topics • The financial system: markets, participants, instruments • Capital structure and the firm life-stage • The role of business angels, venture capital and private equity • The role of banks, the bank-firm relationship and the assessment of firms’ creditworthiness • How firms can go public (Initial Public Offerings) • Debt capital markets: characteristic and valuation of bonds • Risk capital markets: characteristics and valuation of stocks • The European Commission Action Plan for a European Capital Markets Union (CMU) LUMSA, 20 November 2019
Contents - 2 - Special sections: • FinTech and the new funding platforms for small-medium enterprises (SMEs) – Equity crowdfunding • Sustainability and the European Commission’s Action Plan for finance for a sustainable growth • Seminars by invited speakers LUMSA, 20 November 2019
Study material Attending students • Financial markets and institutions. Global edition, by F. Mishkin and E. Stanley, 8th edition, Pearson, ISBN-10: 1292060484 • My slides • Articles and papers Non-attending students • Financial markets and institutions. Global edition, by F. Mishkin and E. Stanley, 8th edition, Pearson, ISBN-10: 1292060484 • Corporate Finance by Berk, De Marzo, 4th Edition, 2017, Pearson, ISBN- 10: 1-292-16016-0 • Investment Banking: A Guide to Underwriting and Advisory Services, by Giuliano Iannotta, Springer Nature; 2010 ed., ISBN-10: 3540937641 LUMSA, 20 November 2019
Class schedules Wednesday 8:30 – 10:30, room S1 – level – 1 Friday 15:00 – 18:00, room 3 – 1st floor Recovery of missed classes (13 and 15 November) Wednesday 20 November (8:30 – 12:00) Wednesday 27 November (8:30 – 12:00) Wednesday 18 December (8:30 – 12:00) LUMSA, 20 November 2019
Exam rules - 1 - Following students’ request, students can develop a project, i.e. hand in a 15 minutes presentation on one of the following topics: 1. Capital markets and financial regulation 2. SMEs financing 3. Going public: the Ipo process Exam rules 6 questions on the second part of the course: maximum grade 29 points plus: 1. an additional open-ended question for students who chose not to develop the project (maximum grade: 3 points) 2. the project for students who chose to develop the project (maximum grade: 3 points) Exam duration: 1.5 hours LUMSA, 20 November 2019
Exam rules - 2 - Mid-term exam 2 Wednesday, 18 December during class hours Friday, 20 December during class hours (project only) Students have to pass both mid-term exams LUMSA, 20 November 2019
Financial management and markets Presentation of the second part of the course Thank you Nadia Linciano n.linciano@lumsa.it LUMSA, 20 November 2019
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