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MScF 120 ECTS - Research Option

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ENHANCED PROGRAMME

  • Any student can register at the latest, by the end of semester 3, in one of the two enhanced programmes for acquiring MSc in Finance (120 ECTS), or MSc in Finance with Data Science Major (120 ECTS).
  • All students who start their 4th semester without registering in an enhanced programme can no longer register in any enhanced programme.
  • The deadline to give the Enhanced programme registration form to Kira Facchinetti is 10 December 2021 at the latest.

Research / Internship thesis (Master thesis)

  • During the fourth semester, you have the option to write a Master thesis (30 ECTS) independently or during a training period at a financial institution or at the finance department of a corporation.
  • The Master thesis allows you to earn 30 ECTS and to bring the total amount of ECTS to the number of 120.
  • The research option prepares you for a research career in academia (PhD) or practice (e.g., at a government agency or a research division of a corporation).

Supervisors and topics

  • Fiechter Peter

    Potential topics for the master thesis may include but are not limited to:

    • Economic consequences of changes in or adoption of accounting standards, accounting regulation, or accounting rules (e.g., market reactions, cost of capital, or liquidity)
    • Determinants of accounting choices
    • Effects of heterogeneous accounting standards or accounting choices on information asymmetry or information precision
    • Earnings management, discretionary accounting, and disclosure quality (e.g., earnings smoothing, small positive gains, value relevance, large negative net income, timely loss recognition, or target accounting)
    • (Economic) consequences of fair value accounting
    • Effects of banking regulation and “Too-big-to-fail” issues
    • Economic consequences of (U.S.) cross-listings

    Guidance for writing the Master thesis in Financial Accounting

  • Kroencke Tim
    • Empirical macro-finance (asset pricing tests of consumption-based models effect of macroeconomic and monetary policy news measurement of macro-finance factors)
    • Stock return anomalies (cross-sectional asset pricing tests stock return anomalies, value, profitability, size, momentum; implications for asset management)
    • Return predictability (cash flow vs discount rate news; practical implementation of market-timing strategies)
    • Alternative assets (FX, real estate, human capital, …)
    • Strategic and tactical asset allocation; fund flow analysis; skill vs luck in asset management
    • Textual analysis and asset pricing tests
  • Salva Carolina
    • Corporate and international finance
    • Valuation
    • Financial markets
  • Sonney Frédéric

    Topics for the Master thesis will be related to Asset Management and/or Capital Markets. Below are a few themes or ideas that I would be happy to discuss further:

    • The Global Minimum Variance portfolio and Risk Budgeting techniques
    • The determinants of "intra-market" correlations
    • The value of financial analysts' forecasts for portfolio managers
    • Financial analyst forecasts: skill, luck, or...?
    • Stock market: do "crowded names" behave differently from the rest of the market?
    • Hedge fund indices: are they representative of the industry?
    • Hedge fund replication: could an "indexed" product do a good job?
    • Hedge funds before and after the financial crisis. What has changed?
  • Starica Catalin

    Statistical and econometric aspects of:

    • The use of financial statements for firm valuation (multiple valuation, earnings forecasts)
    • Enterprise valuation - accounting based modeling (cash accounting, accrual accounting, discounted cash flow valuation, residual earings model, abnormal earnings growth model)
  • Weigert Florian
    • Hedge funds
    • Mutual funds (investment funds)
    • Empirical asset pricing
    • Behavioral finance
    • Risk management