Seminar in Finance and Markets

This syllabus is only as an informative orientation for new students.
Every academic year, professors will give to the students the updated syllabus with the exact contents and evaluation system.

 

Elena Ferrer (UPNA)
elena.ferrer@unavarra.es

Ana González-Urteaga (UPNA)
ana.gonzalezu@unavarra.es

 

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.

 

 

Seminar in Finance and Markets

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

 

Bibliography

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, M

cGraw-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

 

Evaluation

  • Reading: 20%
  • Practice: 20%
  • Discussion and group tutorials: 30%
  • Exams, evaluation exercices: 30%