Finance (FINA)

Students consider fundamental theories and apply those theories to the business world. Topics include financial statement analysis, valuation of financial assets, investment and financing decisions, costs of capital, portfolio management, and long-term financial policies of firms such as capital structure and dividend policies.

This is the first of two courses that support the investment management of the Sobey School of Business’s IMPACT Fund. Students who are admitted to this program will undertake a comprehensive economic analysis of the Canadian economy and use this to generate top-down portfolio allocation decision. In addition, students learn how to generate advanced financial research reports using state-of-the-art financial tools. Emphasis is on generating, interpreting and applying company comparable analysis reports.

This is an advanced course in applied portfolio management. The course is the second of two courses that support the investment management of the Sobey School of Business’s IMPACT Fund. Students who are admitted to this program are responsible for making portfolio allocation decisions for the fund. Students use company comparable analysis in conjunction with more advanced financial models, such as cash flow and real options models, in making bottom-up active portfolio management decisions. Advanced financial statement analysis is also covered.

Managerial in emphasis, this course examines financial planning and analysis, working capital management, capital budgeting techniques, and theories of cost of capital and valuation of the firm.

This course is also managerial in emphasis and covers material related to financing both the short and long term assets of the firm: bank borrowings, bonds, preferred stock, common stock, as well as mergers and consolidation.

The course examines financial and economic aspects of corporate mergers, acquisitions, joint ventures, restructuring and other corporate control transactions. Relations between corporate control transactions and performance are explored. This course will expose students to key corporate finance literature.

The purpose of this course is to discuss the management of investments. Although a strong theoretical treatment is adopted, the course is developed in the context of Canadian financial markets and available empirical work will be reviewed. Recent advances in option and bond markets will be developed and computer applications stressed. In addition, the asset-liability management of financial institutions - banks, mutual funds, insurance companies and public funds - will be reviewed.

This course is intended to help students understand activities of the financial institutions in the market place and the types of financial innovations taking place in the market place. Topics covered include contemporary issues in the options and futures markets and applications: stock options, stock index options, foreign currency options, curb options, commodity futures, foreign exchange futures, interest rate futures, stock index futures and interest rate swaps. Applications to hedging strategies are also emphasized.

This course presents an overview of the Canadian investment environment focusing on various securities that trade in the money, bonds, and equity markets. Both qualitative and quantitative treatments of risks and returns associated with investments in these markets are discussed. Applications to managed (active) and unmanaged (naive) portfolios, performance evaluation and interest rate risk management from the perspective of financial institutions. Topics covered include market transactions, portfolio theory and analysis, asset pricing models and market efficiency, security analysis, equity and fixed-income portfolio management and performance appraisal.

This course provides a detailed analysis of the bond market and the instruments available therein. Although the emphasis is on North American securities, global portfolios are also examined. Bond valuation and bond portfolio strategies are covered in depth. Treasury securities, corporate bonds, municipal bonds, mortgage backed securities, CMO’s and interest rate options are addressed.

This course provides a detailed analysis of the bond market and the instruments available therein. Although the emphasis is on North American securities, global portfolios are also examined. Bond valuation and bond portfolio strategies are covered in depth. Treasury securities, corporate bonds, municipal bonds, mortgage backed securities, CMO’s and interest rate options are addressed.

This course is organized around two themes - (i) the concept of the multinational firm and the financial management decisions it takes in a multi-currency world - and (ii) the challenges faced in the international banking system of asset/liability management, offshore financial centres, external debt and rescheduling and increased regulatory and supervisory measures.

This course deals with selected topics in finance. It is offered when in sufficient demand, and specific topics covered may vary depending on the interests of students and instructor. In the past these have included real estate, investment and portfolio management, and international banking.

Intended to supplement or provide an alternative to the regular finance courses in order to meet the special needs and interests of students, the course provides an opportunity to study a particular subject in detail and requires from the student some measure of independence and initiative. Prior to undertaking registration for this course, students must have a detailed course proposal approved by the appropriate instructor. Proof of this approval must be submitted at the time of registration for the course. Students are encouraged to obtain this approval prior to leaving campus in the spring.