All courses take place at LUISS Guido Carli Campus, at viale Romania 32, Rome.

Advanced Corporate Finance

Advanced capital budgeting techniques(e.g., real options), portfolio theory and the CAPM as a tool to measure the cost of capital of various types of businesses, mergers & acquisitions (M&A), initial public offerings, debt policy and optimal capital structure design in the presence of corporate taxation with its effects on acquisition techniques (e.g., leveraged buyouts), dividend policy, and the valuation of complex financial securities or clauses recurrently used in the M&A context (e.g., corporate bonds, options).

Asset Management

International and local regulatory framework. Capital market theory and asset pricing. Security analysis and valuation. Asset management products and fund administration. Risk management practices.

International Finance

Markets for spot exchange, currency forwards, options, swaps, international bonds, and international equities. Managing exposure to exchange rates and country risk, financing in international capital markets, international capital budgeting in the presence of multiple currencies, international tax regulations, and sovereign risk.

Financial and Credit Derivatives

Introduction and review. The Black-Scholes-Merton model. A look at different types of options. Greek letters and volatility smiles. Value at Risk. Credit risk and credit derivatives.

Econometric Theory (Statistics, Classical Econometrics)

Elements of probability. Modes of convergence. Introduction to asymptotic theory. Statistical inference: estimation and hypotheses testing. Conditional Expectations and related concepts in Econometrics. Single equation Estimation Linear Model and OLS Estimation. Asymptotic Properties of OLS. Testing (Wald and Lagrange). Omitted Variables. Measurement Error. Instrumental Variables Estimation of Single Equation Linear Model.

Econometric Theory (Classical Econometrics, Time Series Analysis)

Maximum Likelihood and M-Eestimation. Generalized Method of Moments (GMM) and Minimum Distance Estimation. Unobserved effects Panel Data models. Modelling economic and financial time series: introduction. Linear univariate time series: ARMA processes. Linear multivariate time-series: VAR processes. Nonstationarity. Cointegration. Financial time series and their characteristics: stylized facts and empirical evidence. Nonlinear models and their applications. Conditional heteroscedastic models: estimation and testing.

Theory of Finance

Advanced foundations to asset pricing models. Utility based asset pricing. Contingent claims. Portfolio theory and practice. Equilibrium in capital markets. Applied portfolio management. Building investment portfolios and understanding the trade-off between risk and returns on financial markets.

Equity Markets and Alternative Investments

Portfolio optimization: theory and practice. CAPM model with applications. Risk adjusted performance measures. Introduction to alternative investments: markets and strategies. Asset management for hedge funds, real estate and private equity.

 Market Law and Regulation

Introduction. Law Making. Supervision and Enforcement. Capital-raising Process, Regulation, and the EU. Prospectus Directive. Transparency Directive. Financial Reporting and International Financial Reporting Standards. The UCITS Regime. The AIFMD Regime. Investment Services and Activities. Trading Venues. Trading.  EMIR Regulation. Credit Rating Agencies Regulation. Market Abuse Regulation. Retail Markets.

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