LUISS

Teaching Materials

Class 1, Feb 13Report Tods_Jan 27 201101_TCF02_TCF

Class 2, Feb 2003_TCF04_TCF

Class 3, Feb 2105_TCF

Class 4, Feb 2706_TCF07_TCF

Change in Schedule: This week (March 6 and 7) we will cover the first 3 chapters of Shefrin’s Behavioral Corporate Finance, instead of doing exercises on the first part of the course (Valuation) that we’ll cover next week.

Class 5-6, Mar 6-701_BCF02_BCF03_BCF

Class 7, Mar 13: 1 Session Exercise_Corporate Finance_LUISS_Cervellati (NO TEXT AVAILABLE, The data you need to solve the exercise are provided at the beginning of each exercise).

Class 8, Mar 14: 2 Session of Exercises Corporate Finance LUISS_March 14_Text

2 Session of Exercises Corporate Finance LUISS_March 14_Solution

Class 9, Mar 20: 9_TCF_Risk-Return10_TPC_CAPM11_TCF_Factor Models

Class 10, Apr 3 (Nadia Linciano): LINCIANO 3 aprile 2017 LUISS

Class 11, Apr 4: 13_TCF05_BCF14_TCF

Class 12, Apr 10: LINCIANO 10 aprile 2017 LUISS

Class 13, Apr 11: LINCIANO 11 aprile 2017 LUISS

Class 14, Apr 24 (UPDATED FILE): LINCIANO 24 aprile 2017 LUISS (this is the updated file, check out!)

Class 15, Apr 27 (11am-2pm, room 210): 15_TCF_Capital Structure_Basic16_TCF_Capital Structure_Limits to the Use of Debt17_TCF_Valuation + Capital Budgeting for Levered Firm06_BCF_Capital Structure

Part of the material covered in this class has previously been covered by Nadia Linciano in her classes, thus I will give more emphasis to the other topics.

Class 16, May 2: 12_TCF_Risk-COC04_BCF

Class 17, May 4 (11am-2.30pm, room 210): 3 Exercise Session_Corporate Finance (NO TEXT AVAILABLE, The data you need to solve the exercise are provided at the beginning of each exercise).

PROGRAM CHANGE: On May 2 we will finish Ch. 17_TCF and we will cover Ch. 12_TCF that we haven’t covered before. If some time will remain, we will also cover Chapters 06_BCF and 04_BCF (not covered before).

On Thu May 4 we will have instead the exercise session on Portfolio Theory, Risk/Return and Risk/Capital Budgeting.

I’m still waiting to know when we can have our last make-up class, where we will cover the last topic of the course, i.e., Dividends and other Payouts.

Finally, by the end of this week I will make available the mock exam and I will post the UPDATED SYLLABUS that you will have to rely on for the exam.

FORMULA SHEET FOR EXAMFormulas for Corporate Finance Exam

I have included the main formulas that you’ll need at the exam. If you don’t find a formula that you think you’d need, please let me know asap. It will still be possible to insert it the day of the exam, but you have to ask me at the beginning of the exam. Even though I will insert the formula sheet in the text of the exam, please PRINT THE FORMULA SHEET AND BRING IT WITH YOU AT THE EXAM, just in case I forgot! 🙂

MOCK EXAM TEXTCorporate Finance_Mock-Exam_LUISS_May 2017_Text

MOCK EXAM SOLUTIONCorporate Finance_Mock-Exam_LUISS_May 2017_Solution

Since many students asked for the text of exercise sessions #1 and #3, and given that I had no text, I eventually decided to write them down for you.

Here’s the TEXT of EXERCISE SESSION #3 CORRECT (There was an error in the text of exercise 6, the level of NWC (not its variation as it appears in the solution) from year 1 to 5 is 17% of Revenues in year 1, i.e., it stays constant for the 5 years)3 EXERCISE SESSION_TEXT_CORRECT

TEXT of EXERCISE SESSION #1: 1 Exercise Session_Text

Note: there is an error in the solution, with regard to the relationship between ROE, r and NPVGO. Check the correct relationship in the text.

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