JEM037 - Financial Markets
|Status:||EEI and EP - mandatory
ET - elective
F,FM and B - mandatory
Masters - all
MEF - core
Semester - winter
|Recommended courses:||JEB045 - Financial Management
|Course supervisors:|| Jiří Novák Ph.D., Boston Consulting Group Corporate Chair
|Teachers:|| Doc. PhDr. Adam Geršl Ph.D.
Jiří Novák Ph.D., Boston Consulting Group Corporate Chair
|Assistants:|| Mgr. Krenar Avdulaj
Mgr. Adrian Babin M.A.
PhDr. Petra Vokatá
|Schedule:||Lectures (Mondays 14.00 - 15.20 in 109)
Tutorials (Mondays 15.30 - 16.50 in 109)
|Announcements:||Course Start (3 September 2012)
The course will start with a double lecture in the first week on Monday, 1 October. As the course requirements will be discussed at the first lecture, the attendance is highly recommended. Print out the handouts available for download below and read the required articles from the list of readings provided below in advance.
|Literature:||Brealey, R. A. & Myers, S. C., 2002. Principles of Corporate Finance, 7th ed., McGraw Hill
A list of readings covering selected academic articles is provided below; it will be updated during the course. Note that there are two kinds of readings:
- compulsory - required for all students; included in the exams
- reference - recommended to students in case they want to study particular questions in greater depth and as a point of departure in screening literature when writing their thesis proposal; these readings will not be included in the exams.
|Description:||The course introduces students to selected topics in financial markets research. It provides an overview of the functions of financial markets, to the ways of measuring market reaction to information, evaluating its efficiency, documenting pricing anomalies, as well as introduction to market micro-structure issues. The course is organized around selected research topics that are presented in selected research articles constituting required readings for the course. Students will be asked to formulate their own research idea concerning financial markets, which may help them in formulating the topic of their Master's Thesis later in their studies.
|Content:||01 - Introduction (Novák)
02 - Efficient Markets (Novák)
03 - Behavioral Finance (Novák)
04 - Market Liquidity (Geršl)
05 - Money Markets and Central Bank Auctions (Geršl)
06 - Value Relevance of Accounting Information (Novák)
07 - Earnings and Cash Flows, Accrual Anomaly (Novák)
08 - Security Offerings (Novák)
09 - IPOs - Practical Experience (Mejstřík)
10 - Guest Lecture
11 - Cross-Border Capital Flows, Contagion and Risk Aversion (Geršl)
12 - Structured Products and Global Financial Crisis (Geršl)
|Seminar:||See the page "Financial Markets A - seminar"
|Course requirements:||Thesis Proposal (30 pts)
Presentation (20 pts)
Opposition (10 pts)
Final Examination (40 pts)
To pass students need to collect minimum of 55 pts.
|Downloadable:||01 Introduction (mrk'12) UPDATED
02 Efficient Markets (mrk)
03 Behavioral Finance (mrk)
04 Money_markets (mrk,2012)
05 Liquidity (mrk,2012)
06 Market Reaction on Earnings (mrk)
07 Cash Flows & Accruals (mrk)
08 Security Offerings (mrk)
11 Contagion (mrk,2012)
12 GlobalFinancialCrisis (mrk,2012)
Guest Lecture Presentation
Guest Lecture Support Material
Reading List (mrk'12)