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INVESTMENT BANKING

Syllabus

EN IT

Learning Objectives

LEARNING OUTCOMES: Knowledge of the activities of banks and financial intermediaries in the Investment Banking business area


KNOWLEDGE AND UNDERSTANDING: Ability to identify and distinguish the characteristic profiles of the operations and services offered in the Investment Banking area


APPLYING KNOWLEDGE AND UNDERSTANDING: Ability to use the knowledge acquired in the application of the analysis methods typical of the Investment Banking


MAKING JUDGEMENTS: Ability to integrate the knowledge acquired in the analysis of cases in a complex real context, formulating judgments based on the information available


COMMUNICATION SKILLS: Knowing how to communicate clearly the conclusions reached in the analysis of case studies

LEARNING SKILLS: Ability to analyze the reference contexts of investment banking operations and apply appropriate solutions


Prerequisites

None

Program

The course examines the main functions of the investment banking activity. Based on relevant cases study the course focuses on the main topics in investment banking such as:
• Corporate Valuation
• Debt and equity offerings
• Merchant banking
• Merger and acquisition
• Credit and financing

Tentative schedule
Week 1: 6h
Detailed agenda
Course presentation
Definitions
Week 2: 6h
Corporate valuation: Theory
Corporate valuation: Practice
Capital markets
Week 3: 6h
Equity offerings I
Equity offerings II
Merchant banking I
Week 4: 6h
Merchant banking II
Merchant banking III
M&A I
Week 5: 6h
M&A II
LBO Deals
LBO – Case study
Week 6: 6h
Debt offerings
Review and synthesis
Case studies

Books

Iannotta, G., Investment Banking, Springer-Verlag, 2010.

Bibliography

Iannotta, G., Investment Banking, Springer-Verlag, 2010.

Teaching methods

Lessons
Lessons (problem solving)
Workshops

Exam Rules

Non attending students: Oral exam
Attending students: Oral exam + Project work evaluation

Referring to project works, each student should demonstrate:
• The ability to set the parameters for the problem.
• Ample knowledge regarding the subject of the problem.
• The ability to connect the analysis to other course concepts.

Criteria for Judgment Expressed in Thirtieths:
o Unsatisfactory: Significant deficiencies and/or inaccuracies in knowledge and understanding of the topics; limited ability to analyze and synthesize, frequent generalizations.
o 18-20: Knowledge and understanding of the topics barely sufficient with possible imperfections; sufficient ability to analyze, synthesize, and make independent judgments.
o 21-23: Routine knowledge and understanding of the topics; correct ability to analyze and synthesize with coherent logical reasoning.
o 24-26: Fair knowledge and understanding of the topics; good ability to analyze and synthesize with arguments expressed in a rigorous manner.
o 27-29: Complete knowledge and understanding of the topics; remarkable ability to analyze and synthesize. Good autonomy of judgment.
o 30-30L: Excellent level of knowledge and understanding of the topics. Remarkable ability to analyze, synthesize, and make independent judgments. Arguments expressed in an original manner.