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MScF 120 ECTS - Research Option

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Master thesis

During the fourth semester, students 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.

Students who want to write a master thesis must have acquired at least 30 ECTS in line with the MScF in Finance (90 ECTS).

 

Research thesis and internship thesis

Please read carefully the information sheet 2021-2022 for requirements, dates, deadlines and documents to submit.

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