FINANCIAL POLICIES AND M&A STRATEGIES-2

This is the second part of the 12 credits course. In this part, the so-called "asset side" corporate finance approach is used. Then the investment strategies able to affect asset management policies are analyzed with respect to the characteristics of business life such as: growth plans and opportunities, degree of risk tolerance, development of business potential, risks and opportunities related to the management of stakeholder relations. The above issues are explored in depth with special reference to the growth processes through M&A transactions

To know the drivers to measure and achieve efficient use of financial resources available in the company. To know how to face and sustain growth policies and also how to deal with corporate restructuring processes. To learn the main methods of evaluation of companies and business units, both stand alone and in acquisition process.

None. However, it is advisable to have attended the lessons of the first part of the course.

Main topics are: (1) company value creation policies at different stages of business life such as acquisitions and mergers, risk capital investing by specialized intermediaries and turnaround processes; (2) corporate asset protection strategies through the selection of corporate risks, to be achieved through the most traditional instruments available in financial markets (e.g. derivatives) and through contractual and organizational solutions adopted by the company, also following the so called "Shared value" approach

Book
Title: Fundamentals of Mergers & Acquisitions
Anno: 2023, Egea Editore
Author: Dallocchio M., Lucchini G., Pirrone C.
ISBN: 9788823891791

The exam will be written, with multiple choice questions, open questions and an exercise base on numerical data

written

A. scores in the 18-22 range will be awarded in the presence of:
- sufficient knowledge and ability to apply understanding with reference to the course syllabus;
- limited ability to apply knowledge by making independent judgments;
- sufficient communication skills, especially in relation to the use of specific language pertaining to the area of strategy and innovation;
B. scores in the 23-26 range will be awarded in the presence of:
- fair knowledge and ability to apply understanding with reference to the course syllabus;
- fair ability to apply knowledge by making independent judgments;
- fair communication skills, especially in relation to the use of specific language pertaining to the area of strategy and innovation;
C. scores in the 27-30 range will be awarded in the presence of:
- good or very good knowledge and ability to apply applied understanding with reference to the course syllabus;
- good or excellent ability to apply knowledge by making independent judgments;
- fully appropriate communication skills, especially in relation to the use of specific language pertaining to the area of strategy and innovation;
D. honors will be awarded in the presence of knowledge and applied understanding with reference to the syllabus; excellent judgment and communication skills.

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• Theoretical lessons will take place according to the conventional scheme
• In-depth lessons require prior reading of research documentation that will be reported during lessons
• Applied lessons may require prior reading of cases and other documentation and may include the development of specific electronic worksheets.