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CORPORATE FINANCE AND CAPITAL MARKETS - MODULO CAPITAL MARKETS Corso A
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CAPITAL MARKETS A
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Academic year 2018/2019
- Course ID
- MAN0296B
- Teaching staff
- Paul De Sury (Lecturer)
Cristina Rovera (Lecturer)
Alessio Bongiovanni (Tutor) - Modular course
- Year
- 1st year
- Type
- Distinctive
- Credits/Recognition
- 5
- Course disciplinary sector (SSD)
- SECS-P/11 - economia degli intermediari finanziari
- Delivery
- Formal authority
- Language
- English
- Attendance
- Obligatory
- Type of examination
- Written
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Sommario del corso
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Course objectives
The course aims at examining the features and the instruments negotiated in equity, bond and derivatives markets. Beyond analysing the contractual features and the trading venues, the lectures also discuss various trading and hedging strategies.
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Results of learning outcomes
The student will learn:
- the main features of stock, bonds, equity derivatives, interest rate derivatives and credit derivatives;
- the basic principles of stock, bond and derivative pricing;
- the features and market impact of some important corporate finance operations such as equity seasoned offerings, bond offerings. purchase public offerings, stock options plans, buy-backs, credit securitisations;
- the features and consequences of initial public offerings (IPO) and listing;
- the features and objectives of various trading and hedging strategies.
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Course delivery
Video-lectures, exercises and virtual rooms.
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Learning assessment methods
The final grade is made up:
- a series of different assigments (test, presentations, group works, individual homeworks) during the course;
- a written exam, closed books, at the end of the course.
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Program
- Evolution and features of the legislative context concerning financial markes.
- The main types of equity instruments.
- The valuation of convertible bonds and bonds with warrant.
- The equity primary market.
- The seasoned equity offerings and the stock purchasing right valuation.
- The initial public offerings
- The purchase public offerings.
- The buy-back operations.
- The exchange traded funds.
- The features of bonds.
- The single-stock and equity-index futures.
- The single-stock and equity-index options.
- The stock options plans.
- The features of interest rate derivatives: Interest rate swap, cap e floor options.
- The credit derivatives.
- The inner constructions of complex bonds.
Suggested readings and bibliography
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F. Mishkin, The Economics of money banking and financial markets, Pearson.
Chapter 6: the risk and term structure of interest rates
Chapter 7: the stock market, the theory of ational expectations and the efficinent market hypotesis
Chapter 13: financial derivatives
Additional study material will be uploaded on Moodle during the course.
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