This course provides a concise synthesis of the recent available literature on empirical studies in corporate finance, investments and asset pricing within a logical, analytical structure. Material covered includes agency theory, governance through institutional trading, concentrated institutional ownership, independent boards, do bidders gain from takeovers? trading tournaments: households versus institutions and males versus females, the pricing of volatility and liquidity risk, and dividend policy together with imputation credits. Special attention will be given to selected topics in group and lab work. Much of this work is ten to fifteen years ahead of textbooks and represents innovative research at the forefront of the advancement of knowledge.
In this course, you will apply statistical analysis, critical thinking, and problem-solving skills, to test the validity of findings in select empirical studies in finance. This introductory lecture will demonstrate how applying these same skills in a corporate environment, can help foster a successful corporate career. In other words, 'how can you use what you learn in MFIN6210, to stand out in the corporate environment, and climb up the corporate ladder.
This course aims to provide an accessible introduction to empirical studies in financial economics by going beyond the usual econometric/statistical issues. The subtext is to get you to think critically and take nothing for granted by highlighting big mistakes and big successes. MFINS6210 is one of the core courses in the Master of Finance degree. Material covered in Financial Theory (MFIN6214) has direct relevance to this course. This course examines theoretical material covered in MFIN6214 in an applied empirical setting. The course will revisit topics relating to agency theory, asset pricing, market efficiency, capital structure, pricing of risk and corporate control. Students should also find some of the econometric techniques covered in Empirical Techniques and Applications in Finance (MFIN6201) useful in undertaking the individual cooperative project and lab work.
