The objective of the course is to apply concepts and tools from finance theory to analyze actual problems faced by firms, and to provide insights on the practice of corporate finance.Īt the end of this course, students should be able to: The course covers several topics in corporate finance and emphasizes the interaction between financial decisions and strategic choices of corporations. Students are expected to have a basic knowledge of standard financial instruments (bonds, forward contracts, options). An introductory course of Asset Pricing is a plus. Students are expected to have a minimum preparation in mathematics, statistics and econometrics. choose the right fixed income instrument according to a financial objective.compute the value of fixed income instruments.apply asset pricing models to evaluate investment performance.discuss the use and role of factor models.explain the market efficiency hypothesis and its empirical validity.apply consumption-based asset pricing models to assess risk premia.We introduce factor models and give an outlook on their use and role in practice.īy the end of this course, students should be able to: We develop consumption-based asset pricing models and explore how asset prices depend on future expected payoffs and investors’ preferences about consumption and risk, and how they are affected by consumption and payoff shocks. We start by introducing basic concepts and dynamic asset pricing models building on the CAPM, with the aim of understanding how these models can be used to explain asset prices. The second part of the course will uncover the fundamentals of asset pricing models, starting from notions of market efficiency and anomalies linked to return predictabilities. The approach will be very market oriented in order to offer a link between the theory (pricing models) and the market practices. We will specifically focus on instruments that are mostly used by portfolio managers, treasurers and traders, namely interest rate derivatives, currency forward contracts, interest rate swaps and options. The purpose is to provide students with the necessary skills to value and to employ fixed income instruments. They can use financial derivatives such as futures, options, and swaps to hedge their risks or to change the returns of their portfolios. Financial institutions and corporations use fixed income products to manage their assets and liabilities. The first part of the course will pay special attention to fixed income products. This course covers the fundamentals and practice of asset pricing. identify and manage operational and financial risks.apply financial analysis and corporate valuation methods.Students pursuing the Corporate Finance track will learn to : On completion of these studies in corporate finance, students will have acquired a breadth of financial expertise including a good grasp of how markets operate, as well as a more specific understanding of banking, accounting, strategy, and IT. The main areas of study include managing investments and risk, planning and managing financial strategies, managing interest and exchange rate exposures, and corporate accounting and audit. The Master in "Corporate Finance" aims at providing students with the skills required to analyse and manage corporate financial structure. The programme also offers a unique academic approach combined with the purpose of applying knowledge and skills to solving real-life problems and practical learning opportunities through internships." The programme demonstrates several examples of best practices among which the use of ILOs to develop the provision but also to conduct programme delivery and assessment. According to EFMD: " The TSM Master in Finance is a robust academic programme with a commendable connection with the world of practice. The European Foundation for Management Development (EFMD) Accreditation is the most thorough programme accreditation system for business and management programmes with an international perspective. The TSM Master in Finance among the top 10 Masters in Finance that are EFMD-Accredited worldwide
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