Applied Statistics
The purpose of this course is to provide you with a strong background in statistical principles. This course develops ideas for hepling to make decisions using fundamental
statistical methods, including descriptive statistics, probability distribution, hypothesis testing, conditional expectation and liner regression. We will focus on various applications
throughout the semester with strong emphasis on date analysis.
ICS , Graduate School of International Corporate Strategy
[Term 2] Corporate Governance (N. Shimizu) (2008/Term 1&2 (Fall&Winter))
Corporate governance has recently received increasing attention not only in Japan but also in many western countries. The arguments often contrast the shareholder-oriented Anglo-American model with the stakeholder- (particularly, shareholder-) oriented Japanese and German models. Furthermore, they often imply that Japan and European nations should change their systems of governance as the Anglo-American model seems to have brought revitalization to those economies over the past decade as the world has become increasingly globalized.
The objectives of this course are twofold, one regarding systems of governance and the other regarding actions of individual corporations. First, this course tries to develop an understanding of various systems of corporate governance related to such questions as the following:
• What are the pressures on different corporate governance systems resulting from globalization?
• In which direction are the various systems moving?
Such issues as the social responsibility of corporations and new forms of governance required for the “new economy” are included in this discussion.
Second, the course intends to promote an understanding of some representative approaches currently practiced by successful companies in order to maximize shareholder value.
Course Structure
The first one-third of the course discusses the background as well as pros and cons of the different corporate governance systems and ongoing changes in those systems, and reviews some theoretical views on the differences. The second one-third focuses on various tools adopted by successful corporations that are mostly working within the Anglo-American model. The final part discusses issues that are often ignored by the theorists of corporate governance but are essential for corporations to internally accumulate the capability to innovate and remain socially responsible.
Teaching Method
My teaching approach is to encourage open discussion. In class, we will share our insights and develop our analyses together so that we can all learn from each other. Readings and case studies will be assigned throughout the semester. It is important that you be there, be on time, and be prepared. If you are absent or unprepared, you cannot meet your responsibilities to your fellow classmates.
FINA1002 A Introduction to finance
Semester : 2
For Student of Year : 1
An introduction about the basic aspects of financial management: managing the company’s sources and uses of funds as well as a general understanding of the key issues involving the raising and using of long term funds. There will be extensive use of a spreadsheet software (Excel) in lectures and its use is also expected in homework assignments. After finishing the course, students should have a basic knowledge of financial statements and cash flows, an understanding of the major securities used in the financing of companies. They would also be conversant with fundamental financial techniques like compounding, discounting and capital budgeting and be able to apply them for personal financing decisions.
Extra Information
Remarks: (1) It is advisable to take BUSI1002 Introduction to accounting prior to this course.
(2) Not open to students admitted to 1st year of study in the Faculty of Business and Economics in 2006-07 or after (including BEcon, BFin, BEcon&Fin and business students).
(3) Students admitted to 1st year of study in 2006-07 or after majoring or minoring in finance are required to take FINA1003 Corporate Finance.
Mutually exclusive course: BUSI0016 Introduction to finance and FINA1003 Corporate finance
FINA2802H.I. Investments and portfolio analysis
Semester : 2
For Student of Year : 2
Lecturer : Chan, Alex W. H.
This course introduces students to the fundamental principles of investments and to major issues currently of concern to all investors. The concepts and skills developed from this course enable students to conduct a sophisticated assessment of current issues and debates covered by both the popular media as well as more-specialized finance journals. We emphasize on equity part and the main topics include: portfolio theory, equilibrium in capital markets, equity valuation, portfolio performance evaluation, and relevant institutional details. This course is essential to those planning to become an investment professional or a sophisticated individual investor.
Extra Information
Prerequisite: For students admitted to 1st year of study in 2005-06 or before: BUSI0016/FINA1002 Introduction to finance. For students admitted to 1st year of study in 2006-07 or after: FINA1003 Corporate finance.
Mutually exclusive course: STAT3806 Investment and asset management
Course Details
FINA0104 Management of commercial banks
Semester : 1
For Student of Year : 2 & 3
This course introduces basic bank management techniques that include: asset and liability management, liquidity and reserve management, credit analysis, loan pricing and off-balance-sheet banking. Regulatory issues of commercial banks are also discussed.
FINA0106 Insurance: theory & practice
Semester : 1
For Student of Year : 2 & 3
Insurance is the study of risk financing through risk pooling. The use of insurance to reduce the adverse financial impact in case of a loss has become an important element of financial and risk management in our society. This course will cover the theories underlying each major type of insurance products; the characteristics of the contractual agreements pertaining to insurance products; the structure of the insurance industry and its impact on the pricing of insurance products; the operation of insurance companies and the need for government regulations of the industry.
FINA0303 A Case studies in corporate finance A
Semester : 1
For Student of Year : 2&3
This course is structured around the most important financial decisions made at firm level in an uncertain environment. For examples: what capital structure to adopt (financing decision); how to value a firm or investment project (investment/valuation decision); how to raise capital in the equity market (IPO decision); what mechanisms to put in place to discipline manager and the largest shareholder (corporate governance decision); whether to return cash and how to return cash to investors (dividend/share repurchase decision); and whether a firm should engage in mergers and acquisitions (M&A) activities and how to do an M&A right (M&A decision). This course exposes students to some of the most fundamental issues in corporate finance today as well as some of the most important advances in corporate finance of the last decade. It will offer students an opportunity to understand how the concepts and theories of corporate finance are applied in real world and generate lasting impact on firm values, a driving issue faced and constantly asked by CFOs and CEOs. This course will be taught using a case-oriented approach.
FINA1003 A.B Corporate finance
Semester : 1
For Student of Year : 1
Lecturer : Wong, Clement General Information
This is an introductory course that develops the basic concepts and tools applicable to corporate financial decisions. Three main tasks of financial managers are studied: (i) investment evaluation, (ii) financing decisions, and (iii) payout decisions. Specific topics include present value calculation, valuation of stocks and bonds, investment criteria and capital budgeting, risk and return, cost of capital, capital structure, raising capital, dividend policy, and working capital management.
Extra Information
Prerequisite: BUSI1002 Introduction to Accounting
Remarks: Not open to BEcon, BFin, BEcon&Fin students admitted to 1st year of study in 2005-06 or before.
Mutually exclusive course: BUSI0016/FINA1002 Introduction to finance
FINA0304 Advanced Corporate Finance
Semester : 1 & 2
For Student of Year : 2&3
The objective of this course is to introduce the theoretical literature on the microeconomics of corporate finance in a unified framework. Topics covered include: corporate financing and agency costs, corporate financing under asymmetric information, liquidity and risk management, corporate finance and product markets, passive and active monitoring in corporate finance, lending relationship and investor activism, control rights and corporate governance, and takeovers. Subtle elements of information and agency considerations are emphasized.
Extra Information
Pre-requisite: FINA1003 Corporate finance
Mutually exclusive course: FINA0302 Theories of corporate finance
FINA3601 Reading course
Semester : 1 & 2
For Student of Year : 3
Lecturer : Staff General Information
The course consists of supervised reading and written work. Candidates may specialize in one topic under the supervision of faculty members of the School of Economics and Finance.
Candidates must submit the title of their project within the first two weeks of the semester for approval by the Director of the School of Economics and Finance. An original project paper is required in lieu of a written paper in the Examination. The project paper shall not exceed 10,000 words in length, and must be completed and presented not later than the last day of the examination period for that semester. Candidates shall submit a statement that the project paper represents their own work (or in case of joint work, a statement countersigned by their co-worker(s), which shows the degree of their work) undertaken after the registration in the course.