Emanuele Bajo is Full Professor of Corporate Finance at the University of Bologna. He is Co-founder of the website borse.it, one of the leading sites for online financial information in Italy. His research mainly concerns the subjects of efficiency in the stock market and evaluating derivative instruments, on which he has numerous scientific publications.
CORE COURSE - Corporate finance is one of the areas closest to the strategic management of a company. It comes into play in investment and financing decisionmaking and in extraordinary operations. The course provides the basic theoretical and methodological tools necessary to evaluate investment decisions, determine company capital costs, optimize the choice of financial structures, evaluate companies, operation of companies, how the principle tools to aquire risk capital work, the detection of the main areas for corporate governance and its implications vis-à-vis the company’s objectives, the main financial risks and the derivatives used to cover them.
The course discusses some relevant themes related to blockchain technologies, cryptocurrencies, ICOs, smart contracts and novel applications that can be built over the blockchain. Bitcoin and novel cryptocurrencies gathered momentum in the last months. More and more investors look with interest at these technologies, while others label them as a dangerous speculative bubble. The truth is that the blockchain, and the alternative implementations of a distributed ledger, represent very innovative technologies, that can be exploited to build novel distributed applications. Moreover, the possibility of creating smart contracts, running on top of the blockchain, permits trusted interactions and agreements among different (and possibly anonymous) parties, without the need for a central authority. This course will illustrate the main principles and conceptual foundations of the blockchain and smart contracts.
This course enables executives to use financial tools to make better decisions. The teaching method combines class lectures and discussions to case studies and spreadsheet modelling to get a deeply and insightful understanding of topics in corporate finance. These topics include, but are not limited to, capital budgeting, project and company valuation and the optimal financing and hedging decisions.
The course highlights the management of financial risk with emphasis on recognition of financial price risk and tools of risk management from business firm’s perspective. A relevant part of the course is devoted to the analysis of derivatives and their uses in risk management.