The course (module II) aims at developing skills and competences in identifying, analysing and managing/solving the conflicts of interest in financial sector and in the governance of a firm. Specifically, leaving from the recent corporate scandals, we will analyse a definition pattern of interest conflict typologies, the reasons and conflict implications of agency relationships “principal-agent” and “principal-principal”, the conflicts in financial sector and in the gate-keepers infrastructure; therefore, the respective causes and tools of preventing/solving will be analysed and discussed. Finally, the worst practices in valuation will be analysed, linking them with conflicts that could be involved in IPOs (mainly underpricing) and in M&As and be exploited in valuation practices.
Curriculum
scheda docente
materiale didattico
2. Savings, credit and banking system
3. Saving and direct and indirect equity investment in the large production facilities of the country
4. Protection of savings in the EU
5. Provisions on the protection of savings and the regulation of financial markets: Law 262/2005 and subsequent interventions
6. The functions and role of public supervisory authorities on savings
7. The offer to the public of securities. Crowdfunding
8. The regulatory framework on takeover bids
9. The legislation relating to securitisations
10. Protection of savings in German law and in US law.
F. Annunziata, La disciplina del mercato dei capitali, Giappichelli, 2023, cap. I, II, III, cap. XV, cap. XVII, XVIII
Other papers may be distributed during class
Programma
1. Protection of savings in the economic constitution2. Savings, credit and banking system
3. Saving and direct and indirect equity investment in the large production facilities of the country
4. Protection of savings in the EU
5. Provisions on the protection of savings and the regulation of financial markets: Law 262/2005 and subsequent interventions
6. The functions and role of public supervisory authorities on savings
7. The offer to the public of securities. Crowdfunding
8. The regulatory framework on takeover bids
9. The legislation relating to securitisations
10. Protection of savings in German law and in US law.
Testi Adottati
M. Atripaldi, La tutela del risparmio popolare nell’ordinamento italiano, Editoriali scientifica, 2014: introduction, chapter II, IV, conclusions;F. Annunziata, La disciplina del mercato dei capitali, Giappichelli, 2023, cap. I, II, III, cap. XV, cap. XVII, XVIII
Other papers may be distributed during class
scheda docente
materiale didattico
2. Savings, credit and banking system
3. Saving and direct and indirect equity investment in the large production facilities of the country
4. Protection of savings in the EU
5. Provisions on the protection of savings and the regulation of financial markets: Law 262/2005 and subsequent interventions
6. The functions and role of public supervisory authorities on savings
7. The offer to the public of securities. Crowdfunding
8. The regulatory framework on takeover bids
9. The legislation relating to securitisations
10. Protection of savings in German law and in US law.
F. Annunziata, La disciplina del mercato dei capitali, Giappichelli, 2023, cap. I, II, III, cap. XV, cap. XVII, XVIII
Other papers may be distributed during class
Programma
1. Protection of savings in the economic constitution2. Savings, credit and banking system
3. Saving and direct and indirect equity investment in the large production facilities of the country
4. Protection of savings in the EU
5. Provisions on the protection of savings and the regulation of financial markets: Law 262/2005 and subsequent interventions
6. The functions and role of public supervisory authorities on savings
7. The offer to the public of securities. Crowdfunding
8. The regulatory framework on takeover bids
9. The legislation relating to securitisations
10. Protection of savings in German law and in US law.
Testi Adottati
M. Atripaldi, La tutela del risparmio popolare nell’ordinamento italiano, Editoriali scientifica, 2014: introduction, chapter II, IV, conclusions;F. Annunziata, La disciplina del mercato dei capitali, Giappichelli, 2023, cap. I, II, III, cap. XV, cap. XVII, XVIII
Other papers may be distributed during class