Public University of Navarre



Academic year: 2017/2018 | Previous academic years:  2016/2017  |  2015/2016 
Master’s degree in Business Economics, Organisation and Management
Course code: 71837 Subject title: Seminar in Finance and Markets
Credits: 1 Type of subject: Mandatory Year: 1 Period: 2º S
Department: Business Administration
Lecturers
FERRER ZUBIATE, ELENA GONZALEZ URTEAGA, ANA (Resp)

Partes de este texto:

 

Module/Subject matter

Finance.

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Descriptors

Efficient Markets Hypothesis (EMH). Behavioural Finance. Credit Risk. 

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General proficiencies

  1. GP1 Develop a critical and a constructive attitude to one¿s work and that of others
  2. GP2 Make use of quantitative documentary sources that are significant for the economic analysis of organisations from a critical perspective

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Specific proficiencies

  1. SP1 Analyse the behavior and the interrelationships among the different agents interested in the company`s future
  2. SP2 Display knowledge of the economic and institutional environment in which the economic agents interact within, or though, economic organisations
  3. SP3 Understand qualitative models of the firm and interpret their results

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Learning outcomes

  1. 3. Explain and motivate the analyses, interpret the results and present all these clearly and concisely in English
  2. 4. Identify the characteristics of the different agents linked to the company
  3. 5. Identify the relevant sources of information and their content for subsequent analysis
  4. 10. Present research results to various audiences using the different media available

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Methodology

Methodology-Activity Classroom Teaching Non-Classroom Teaching
A-1 Regular Participative Sessions 60  
A-2 Practice 10 15
A-3 Discussion and group tutorials 25  
A-4 Assignments   30
A-5 Reading assigned material   40
A-6 Individual Study   50
A-7 Exams, evaluation exercises 10  
A-8 Individual tutorials   10
Total 105 145
Total 250

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Relationship between formative activities and proficiencies

Proficiency Activity
GP1 GP2 SP1 SP2 SP3 A-1 A-2 A-3 A-4 A-5 A-6 A-7

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Languages

English.

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Evaluation

Activity Weight
Reading assigned material 20%
Practice 20%
Discussion and group tutorials 30%
Exams, evaluation exercises 30%

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Contents

During this course we will tackle different key issues related with financial economics. The main goal is to provide students an overall picture of what does behavioral finance and credit risk. In order to reach that goal we have designed the course as two research seminars. This means that sessions will essentially evolve around the presentation and discussion of some selected key papers. Students are expected to play an active role in the seminar. Consequently students are asked to present the papers and to participate in the subsequent discussion.

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Agenda

Seminar in Finance and Markets

  • Efficient Markets Hypothesis (EMH). Behavioural Finance Vs EMH. Investor Sentiment.
  • o Credit Risk. Evidence from the CDS market.

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Bibliography

Acceda a la bibliografía que su profesor ha solicitado a la Biblioteca.


Bodie, Z. and R.C. Merton (1998), Finance, Prentice Hall.
Brealey, R.A., and S.C. Myers, 2003, Principles of Coporate Finance, McGraw-Hill, 7 ed.
Elton, E., Martin, J.G., Brown, S.J., and W.N. Goetzmann, 2003, Modern Portfolio Theory and Investment Analysis, John wiley &Sons, 6 ed.

Grinblatt, M. and S. Titman (2008), Financial Markets and Corporate Strategy. MacGraw Hill. 12 ed.

Hull, J.C., 2012, Risk management and financial institutions. Ed. Pearson.

Ross, S.a., R.W., Westerflied, and B.D. Jordan, 2000, Fundamentals of Corporate finance, McGraw-Hill, 5 ed.
Sharpe, W.F., G. J. Alensander, and J. V. Bailey, 1999, Investments, Prentice Hall, 6. Ed.

 

Research Papers.

Baker, M., Wurgler, J., & Yu, Y. (2012). Global, local, and contagious investor sentiment. Journal of Financial Economics, 104, 272¿287.

Qian, H. (2009). Time variation in analyst optimism: An investor sentiment explanation. Journal of Behavioral Finance, 10, 182¿193.

Schmeling, M. 2009. Investor sentiment and stock returns: some international evidence. Journal of Empirical Finance 16: 394-408.

Stambaugh, R.F., Yu, J., & Yuan, Y. (2012). The short of it: investor sentiment and anomalies. Journal of Financial Economics, 104, 288-302.

Ballester, L., Casu, B., & Gonzalez-Urteaga, A. (2016). Bank fragility and contagion: Evidence from the CDS market. Journal of Empirical Finance, 38, 394-416

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Location

Public University of Navarre.

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