Financial Markets and Management (FMM-MIM)

Área

AC Gestão > UC Mestrados

Activa nos planos curriculares

Management > Management > 2º Ciclo > Unidades Curriculares Obrigatórias > Financial Markets and Management

Nível

2º Ciclo (M)

Tipo

Estruturante

Regime

Semestral

Carga Horária

Aula Teórica (T): 0.0 h/semana

Aula TeoricoPrática (TP): 1.38 h/semana

Trabalho Autónomo: 62.0 h/semestre

Créditos ECTS: 3.0

Objectivos

With this course, students are familiarized with the main existing financial markets, as well as with the main financial decisions made by firms and other organizations, among which we highlight the investment decision, the financing decision, and the payout decision. Besides the ?traditional? on these matters, we dedicate special attention to the current themes of ethics and sustainable finance, focusing on socially conscious investors and ESG - Environment, Social and Governance financing (including, for exemple, green bonds and good governance principles), and also on new non-conventional markets (like cryptocurrencies and fintech). Students should understand the main techniques and methods used to evaluate an investment, as well the financing choices involved, and the optimal capital structure for a given company. The payout decision is also discussed.

Programa

1. Financial Markets
a. Money markets, stock markets, bond markets, currency markets, derivatives markets. b. Non-conventional markets: cryptocurrencies, fintechs and blockchain.
2. Financial Decision Making
a. Fundamentals: time value of Money, financial options, game theory. b. The Investment Decison: from the time value of money to NPV.
c. The Financing Decision: from Modigliani-Miller to the Trade-off and Pecking Order Theories. i. DCF Valuation Models: WACC, APV, FTE.
ii. DDM Valuation Models.
iii. Relative Valuation Models.
iv. Debt valuation Models: from Merton to strategic behavior.
d. The Payout Decision: Payout versus Retention, Dividends versus Repurchases.
3. Sustainable Finance and ESG Criteria:
a. Ethics and Sustainable Finance in the 21C. b. Environmental Criteria.
c. Social Criteria.
d. Governance Criteria.

Metodologia de avaliação

? Problem Sets (20%).
? Group Work Assignments (20%): analysing, solving and presenting case-studies. Students organize themselves in groups of 5 students (max). Students prepare a written report (hard copy), together with an Excel spreadsheet (when appropriate) and a powerpoint presentation (in a CD-rom).
? Final Exam (60% of final grade), with a minimum grade of 8.5/20.

Bibliografia

Principal