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CORPORATE FINANCE AND CAPITAL MARKETS - MODULO CAPITAL MARKETS Corso B

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CAPITAL MARKETS B

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Academic year 2018/2019

Course ID
MAN0296B
Teaching staff
Dott. Kurt Kotzegger (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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