University of Foggia Department of Economics. 2nd Level Degree in BUSINESS ADMINISTRATION. List of courses offered a.a

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1 University of Foggia Department of Economics Largo Papa Giovanni Paolo II, Foggia (ITLY) 2nd Level Degree in BUINE DMINITRTION Legend: = utumn Term (mid eptember 2013 mid December 2013) = pring Term (mid February 2014 end of May 2014) N/ = not available List of courses offered a.a Please note that: a. LL courses are taught in b. final examinations are generally in. However some lecturers give ERMU students the possibility of making the final exam in other languages: please check the corresponding column. c. examinations are administrated in November and December 2013, January, February, pril, June, July, and eptember

2 Course Credits Lecturer Term Program BUINE DMINITRTION & MNGEMENT (Economia ziendale & Management) Prof. Mauro ROMNO 1st YER Part 1 (3 credits) Foundations of value. Measuring business worth. Business valuation: why and how to do it. Business valuation for different purposes. Business valuation for the business buyer. Business valuation for the owner. Theoretical framework for Valuation. Company valuation results depend on you assumptions. ssumptions and scenarios in the business plan development. pproaches and methods for business valuation. Relationships between leverage and value. The choice between the asset side vs. the equity side approach. Discount rate. Return on investment. Cost of equity. Weighted average cost of capital. Estimating the opportunity cost of capital. Dealing with specific risk. Market valuation. Business valuation based on comparables business sales. Equity side multiples. Entity side multiples. Comparison approach to valuation. tock market and deal multiples. Theoretical framework and practical issues. Measuring business worth: the "indirect" approach based on business fundamentals. From financial statement to business value. Business valuation step by step. um of Parts approach. The value of intangible assets. Valuing business based on incomes. Typical procedures in the financial community. Discounted Cash Flow. Developing forecast assumptions. From business models to cash flow models. Problems with the assessment of cash flow models. Typical cash flow patterns in some industries. Business plan and cash flow projections. Economic Value dded. Business goodwill: why businesses are worth more than their assets. EV and Unlevered DCF method. The Integrated Economic Value. The djusted Present Value approach (PV). Debt profile analysis in valuing tax shields. Dividend Discount Model. The "dark side" of valuation. Terminal Value hypothesis. Growth rate. lternative valuation 2 Examination in the following languages: PERCORO M

3 PROCEDURL ND TX LW OF THE ENTERPRIE (Diritto Processuale e Tributario dell impresa) 6 Prof. Mario CRDILLO m.cardillo@unifg.it techniques. Part 2 (4 credits) Corporate governance. Board of Directors. Independent Directors. Control Governance and Board of directors performance. Executive and non executives Directors. Internal Committee (udit Committee; Nomination Committee, Compensation Committee; Executive Committee). Management Compensation and tock Option Plan. Internal udit. Firm Commitment. CEO uccession. Corporate Governance Ratings. Corporate ocial Responsibility. Ethics. Crisis Management. hareholder ctivism. hareholder Democracy & Minority Interest. Environmental, ocial and Governance. International Corporate Governance. 1st MODULE (1 credit) Direct and indirect taxation with reference to income taxes of natural persons and legal entities: sources of business income, subjective categories of entrepreneurs, business income and territory; determination of corporate income tax, budget and tax return; "special" schemes; Regional tax on productive activities: the assumption of tax for subjective companies and categories of entrepreneurs, links with the territory, resident and non resident companies; determination of companies value of net production revenue, rate and application aspects of taxes for businesses. 2nd MODULE (1 credit) Value added tax: precondition, and subjective profile and territoriality for enterprises, typology of operations, timing of transactions, enforceability and right to deduct taxes, base and rates, application aspects: records, liquidations, payments; Excise duties. 3rd MODULE (1 credit) Registration tax and other indirect taxes: assumption of the tribute and categories of acts of the company; inheritance tax and gift tax, mortgage tax land. Local taxes: ICI, IMU, TOP, TRU, COP, TI, ecc. PROCEDURL LW OF THE ENTERPRIE 4th MODULE (3 credit) Only M / EPC 3

4 TRTEGY ND ORGNIZTION OF FINNCIL INTERMEDIRIE (trategie e Organizzazione degli Intermediari Finanziari) MNGERIL ECONOMIC (Economia Manageriale) Prof. tefano DELL TTI s.dellatti@unifg.it Prof. Cesare POZZI c.pozzi@unifg.it Litigation: the judicial protection in tax law, the evolution of tax litigation system, the relationship between the discipline of litigation and constitutional rules on jurisdiction and the system of litigation in tax reform, tax commissions, the jurisdiction of Tax Commissions, proceedings before the Provincial Tax Commission, special procedures and the appeal system. Module 1. trategic analysis of financial intermediaries (4 credits) Basic concepts of strategy. The financial intermediation sector: structural features. The different levels of the bank's strategies. The value chain. The choices of make or buy. nalysis of financial systems: notes on the national and international competitive scenarios. reas of activity of financial intermediation. pecialization and diversification. The functional strategies. trategic analysis to the definition of the organizational. The functional model. The divisional model. The mixed model. Institutional and business areas of specialization. Examples of organizational architectures. The segmentation of customers in the bank. Information Technology marketing distribution processes. Channel Choices. The intangible assets of financial intermediaries: definition and measurement issues. spects of analysis and measurement of economic value. Retail Banking. Private banking. Loyalty management case studies. Corporate Banking. Module 2. Organizational structure and financial intermediaries (3 credits) Insight into the business functions in the bank. Credit Management. Finance rea. Internal udit Risk Management. The location of the marketing function. The banking group: strategic assessments and organizational profiles. The organizational models of the banking groups, some key studies. Financial conglomerates. Universal bank. Venture Capital. Merchant banking Networks I. THE CONCEPTUL FRMEWORK. 1. Does Organization Matter? 2. Economic Organization and Efficiency. II. THEORIE OF COORDINTION ND MOTIVTION. 3. Using Prices for Coordination and Motivation. 4. Coordinating Only M / EPC M / EPC 4

5 INTERNTIONL CCOUNT TNDRD (Principi Contabili Internazionali) CUTOMER TIFCTION ND QULITY (Customer atisfaction and quality) CORPORTE GOVERNNCE (Corporate Governance) BUINE ECONOMIC: CONULTING ND PROFEION (Economia ziendale Consulenza e Professioni) Plans and ctions. 5. Incentives and Motivation. 6. Moral Hazard.. Risk haring and Incentive Contracts.. Rents and Efficiency. III. COORDINTION, MOTIVTION, ND MNGEMENT. 9. Ownership and Property Rights. 10. Employment Policy and Human Resource Management. 11. Internal Labor Markets, Job ssignments, and Promotions. 12. Compensation and Motivation. 13. Executive and Managerial Compensation. IV. DEIGNING ND CHOOING ORGNIZTIONL FORM. 14. The Classical Theory of Investments and Finance. 15. Financial tructure, Ownership, and Corporate Control. 16. The Boundaries and tructure of the Firm. N/ N/ N/ N/ M Prof.ssa Barbara CFRELLI b.cafarelli@unifg.it Prof. Biagio MEROL b.merola@unifg.it Prof. ntonio CORVINO a.corvino@unifg.it Introduction to data analysis and Excel. ampling techniques. Total Quality Management. ervice evaluation. Measures of the service quality. Customer satisfaction and Customer Loyalty ervqual. ervperf. CI and ECI index. Case study: the evaluation of student satisfaction 1. Corporate Governance of firms: a theoretical framework 2. Corporate Governance and control system of enterprise 3. new scenarios on economic and Corporate Governance This teaching deepens problems concerning the assessment of a corporate strategy. In particular, it analyses the informative effectiveness about some methods and tools that can support the management in the evaluation of quali quantitative variables related to a corporate strategy. The main topics are attributable to: the issues related to the corporate strategy assessment. the strategic plan: a tool for assessing and communication of corporate strategy. the strategic control: an overview of Balanced corecard Only Only M / PC M / EPC EPC 5

6 INTERNTIONL FINNCIL REPORTING TNDRD (Principi Contabili Internazionali) (Control Governance e Valutazione delle Performance) ECONOMIC OF FINNCIL Prof.ssa nna Maria BICOTTI a.biscotti@unifg.it Prof. Marco TLIENTO m.taliento@unifg.it Prof. Vincenzo PCELLI v.pacelli@unifg.it Model. the Economic capital models (e.g. the financial model, the EV model, etc.) the corporate strategy assessment and value creation paths. the value creation drivers for the shareholder, the customer and the firm. the key performance indicators oriented to measure the value creation for the shareholder, the customer and the firm. The international accounting standards and their transposition into law The Framework Definition of assets, liabilities, revenues and costs under Framework The structure of the Financial tatements The Cash Flow tatement tatement of Changes in Equity The Tangible ssets The Operating and Financial Leasing The granted funds The Intangibles ssets The financial instruments The inventories The Construction Contracts The Equity The Provisions and contingent liabilities ccounting for Income Taxes The Business combinations The joint ventures The Investments in associates The segment reporting The Interim Financial tatements Only N/ N/ N/ N/ sset Management Liability management 6

7 INTERMEDIRIE DVNCED COURE Economia degli intermediari finanziari Corso avanzato) PUBLIC MNGEMENT (Management Pubblico) CRII MNGEMENT (Crisis Management) COMMODITY PRODUCTION ND INNOVTION (Produzione delle Merci e Innovazione) Prof. Nunzio NGIOL n.angiola@unifg.it Prof. Elisabetta MFROLL e.mafrolla@unifg.it Prof.ssa Mariarosaria LOMBRDI m.lombardi@unifg.it The composition of financial portfolios: the product Building financial portfolios Forecasting in financial markets Firm s evaluation in the building financial portfolios Rating Risk adjusted performances measurement: Rapm and Eva Portfolio quantitative models Financial portfolio management and asset allocation Fundamental analysis Technical analysis 2nd YER First part 1. public and private management. Conceptual models, convergences and differences; 2. planning, programming, controlling, organizing, and leading; 3. production, finance and accounting. econd part 1. the strategic planning and controlling system in public administrations; 2. the strategic choices system in public administrations (strategies for modelling public administration boundaries, organizational strategies, strategies for improving competences, economic and financial strategies, e government strategies, etc.); 3. public governance. Detection and management of the crisis in the enterprise. Theories and models to detect and avoid financial distress. Turnaround and sharp bending: planning and managing distress. Enterprise risk management process and reporting. Innovation to avoid distress. First module: production processes (4 UFC) I Cultural introduction to the origin and the development of technique and technology. II nalysis of the main commodity production processes in some sectors of the economy according to technical, economical and environmental aspects. econd module: Technical economic innovations (4 UFC) III New technologies (Nano and Biotechnologies); nalysis of M M M

8 process and product innovations introduced to improve the commodity quality, the production firms competitiveness and the consumer safeguard. IV Intellectual properties and technological innovations. (Economia Pubblica) N/ N/ N/ M Overview of the Operations Research Modeling pproach Linear Programming The Linear Programming Model ssumptions of Linear Programming QUNTITTIVE METHOD FOR BUINE DECIION (Metodi e Modelli Matematici per le Decisioni ziendali) TRDE MNGEMENT (Management della Distribuzione) Prof. Luigi DE CERE l.decesare@unifg.it Prof. Giuseppe CLBREE g.calabrese@unifg.it The implex Method Duality Theory ensitivity nalysis Other lgorithms for Linear Programming Nonlinear Programming Types of Nonlinear Programming Problems The Karush Kuhn Tucker (KKT) conditions for costrained optimization Quadratic Programming Game Theory olving imple Games Prototype Example Games with Mixed trategies Graphical olution Procedure olving by Linear Programming Part I Trade Business (4 credits) Introduction to Distribution Management and Distribution Role tructures and ystems of Distribution Relationships between Industrial Companies and Retail Trade Relationships between Retail Trade and Consumption ystem Commercial tructures and Typologies Innovation in Distribution E commerce and e tailing Organizational Model of Trade Business Part II In tore Marketing (4 credits) trategic Management of Trade Business Operation Management of Trade Business tore Management Financial Management of Trade Business Private Label Value Management Only M EPC

9 MONETRY POLICY DECIION (Teoria delle celte Monetarie) COMMODITIE ND MRKET (Merci e Mercati) CONTRCT LW OF THE ENTERPRIE ND CONUMER (Diritto dei Contratti del Consumatore) Prof. Umberto ntonio DE GIROLMO u.degirolamo@unifg.it Porf.ssa Caterina TRICE c.tricase@unifg.it Prof. Massimo GZZR m.gazzara@unifg.it Retail Marketing & Communication Money and its functions. The currency and financial assets in the euro area. The European Central Bank and the monetary policy strategy of the Eurosystem. The multiplier of deposits and credit. Markets in the monetary base, deposits, credit and the money supply. The demand for money. The synthesis of Hicks and developments of the I LM diagram as in depth macroeconomic theory of money. From the demand for money to the Keynesian theory of portfolio allocation. The portfolio approach of Tobin and mechanisms of transmission of the policy monetaria.teoria monetarist and Keynesian theory: a comparison. Rational expectations and monetary policies. The monetary policy of monetarism and nell'inflation targeting. Rules, discretion and reputation and independence of the European Central Bank. Development banks operating in Europe. The analysis fisheriana Friedmanites and the Depression of Recent reforms of the governance of European Monetary Union. Definition of commodity. Definition of soft commodities. nalysis of some of the major agricultural commodities (cereals, oilseeds), colonial and tropical (cocoa, coffee, cotton, sugar) traded in international markets. Definition of hard commodities. nalysis of some of these precious metals (gold, silver, platinum, palladium), industrial metals (copper). Indicators of raw materials. Technological innovations and new uses of traditional commodities. Instrumental contracts for movement of goods in the market Brokerage contracts in place in the market of goods and services Contracts for the use of assets Personal guarantee agreements The contracts for the execution of works and services dvertising contracts Information technology contracts Government contracts Credit contracts and financing Bank contracts, investment and stock The insurance contract Consumer contracts Only EPC EPC EPC 9