Course Description

AM 8101 Financial Statement Analysis 3 Credits
Prerequisite: AM 5100 Financial Accounting

Concepts and techniques for analysing financial statements for business decision making. Impacts of different accounting policies on inventories, long-lived assets, long-term liabilities and leases, analysis of income taxes, Intercorporate investments, long-lived assets, debt financing and off-balance sheet financing.

AM 8102 Valuation and Financial Modelling  3 Credits
Prerequisite: AM 5103 Introduction to Valuation and Financial Modelling

Techniques for Multiples Valuation, Asset based Valuation, Discounted Cash Flow Valuation, Valuation of Start-up. Understand pitfalls and common errors in financial modelling and industry specific financial modelling. Preparation of financial statement projection for Equity research, Mergers and Acquisitions or Investment Banking.

AM 8103 Equity Research   3 Credits
Prerequisites: AM 5101 Investment

AM 8102 Valuation and Financial Modelling

Processes and techniques for equity research, covering business cycle analysis, industry analysis, company analysis and valuation creation. Apply valuation techniques to prepare equity research report and form the basis of recommendation. Analysis and Identification of key characteristics of quality equity research.

AM 8104 Credit Analysis and Fixed Income Investment     3 Credits
Prerequisites: AM 5101 Investment

AM 8101 Financial Statement Analysis

Analysis of the creditworthiness of a business or organization, Key components of Credit Analysis including Five Cs of Credits, Credit evaluation, Risk Assessment, Components of Credit reports, and different types of loan structures. Analysis of fixed income securities, analysis of non-option embedded fixed income securities, yield measures, spot rates and forward rates, measurement of interest rate risk, valuation of option embedded fixed income and investment strategies.

AM 8105 Derivatives Analysis   3 Credits
Prerequisite: AM 5101 Investment

Analysis of contracts, pricings, valuations, and risks of forward, futures, swap, and options, risk management of option strategies, and interest and credit derivatives, introduction of various types of risks such as market risk, credit risk and operational risk, measurement of risk, and components of risk management process. 

AM 8106 Alternative Investments   2 Credits
Prerequisites: AM 5101 Investment

Key aspects and analysis of alternative investments, including Exchange Traded Funds; Commodities; Real Estate Investments; Infrastructure Funds; Private Equity; Leveraged Buyouts; Hedge Funds; and Distressed Investments.

AM 8107 Market Analysis and Portfolio Management   3 Credits
Prerequisites: AM 5101 Investment

Principles of Modern Portfolio Theories, Understanding application and extension to portfolio construction under different investment strategies and investment objectives. Application of market analysis through experience sharing with professional fund managers to analyse market trends, and implication on investment direction and strategies.

AM 8108 Strategic Corporate Finance   3 Credits
Prerequisite: AM 8102 Valuation and Financial Modelling

Key theoretical and practical aspects of corporate finance, understanding the differences between Financial Management for newly set up companies, Small and Medium Enterprises and Large Corporate. Emphasis on management of company’s liquidity and working capital, key considerations for project investment, process for feasibility analysis and criteria for capital budgeting decision, key determinants in setting up corporate financial policy to support the company’s strategic plan, appropriate funding options, and understanding Initial Public Offerings and Listing process.

AM 8109 Start-up Financing   2 Credits
Prerequisite: AM 8102 Valuation and Financial Modelling

New venture funding process from perspectives of an entrepreneur raising funding, and of an investor in new venture. Identification of new venture opportunities, projection of revenue cash flows for new venture, valuation, fund raising to support new venture, structuring a new venture portfolio, and generation of returns from venture capital.

AM 8110 Wealth Management and Tax Planning   3 Credits
Prerequisite: AM 8107 Market Analysis and Portfolio Management

Key components of Wealth Management, including investment planning, retirement planning, insurance planning and preparation of integrated financial plan, personal income tax and applicable tax planning strategies, investment abroad such as rules and regulations, product features and risk considerations.

AM 8111 Cases in Ethics and Professional Standard of Conduct   1 Credits
Prerequisite: AM 8107 Market Analysis and Portfolio Construction

Major aspects of Ethics in business, with emphasis on investment management, including review of the implication on Sustainable and Responsible Investing, various definitions of ethics, how unethical behaviour arises, major cases of unethical behaviour on Wall Street, importance of ethics and trust in investment management, and CFA Institute’s Code of Ethics and Standards of Professional Conduct.

AM 8112 Quantitative Methods for Financial Research    3 Credits
Prerequisite: AM 8102 Valuation and Financial Modelling

Mathematical and Statistical Tools used in conducting academic research in Finance and Investment. Understanding statistical and probability concepts, normal distribution, sampling and estimation, hypothesis testing, correlation and regression analysis, time-series analysis, and training on statistical software for preparation of academic research in Finance.

AM 8113 Seminar in Financial Technology and Innovation    1 Credits
Prerequisite: AM 8109 Start-up Financing

Recent trends and market development in investment product, technological innovation, and application of Machine Learning in FINTECH. Seminars with industry specialists on latest technology, common programming language, security, governance, and regulatory issues on FINTECH. 

AM 8201 Portfolio Risk Management 3 Credits
Prerequisite: AM 8107 Market Analysis and Portfolio Construction

Key concepts in identification, measurement and management of portfolio risk exposure, covering risk measures for different asset classes, portfolio risk measures, Value At Risk (VAR) and expected shortfall, Historical Simulations, Back testing and Stress testing.

AM 8202 Value Investing  3 Credits
Prerequisite: AM 8107 Market Analysis and Portfolio Management

Discussions on history, philosophy and practice of value investing, identification and understanding of critical issues that are facing value investors, best practices in value investing and development of value investing skills to support investment decision making.

AM 8203 Technical Analysis  3 Credits
Prerequisite:   AM 8107 Market Analysis and Portfolio Construction

Principles and commonly used tools in technical analysis, understanding of concepts and application of each approach through hand-on workshop to identify trends, spot bottom and top, confirm reversal point and forecast target price. Discuss practical application and challenges to sharpen trading skills.

AM 8204 Investment Banking  3 Credits
Prerequisite: AM 8102 Valuation and Financial Modelling

Key elements in Investment Banking processes, ranging from structuring deals, analysis and valuation, regulatory concern for investment banking transactions such as fund raising in capital markets, Capital restructuring, or Syndicated Loans.

AM 8205 Mergers and Acquisitions    3 Credits
Prerequisite: AM 8102 Valuation and Financial Modelling

Concepts and rationale behind Mergers and Acquisitions including corporate strategy, valuation, due diligence, financing decisions for the mergers and acquisition, transaction structures, restructuring options, takeover defence and integration. Discussion on real business challenges during Mergers & Acquisition processes by experienced financial advisors.

AM 8301 Research in Finance and Investment  6 Credits      
Principles of academic research, research process, empirical research in finance and investment, with the view of developing research proposal to Research Advisor by the end of the term. Students independently conduct quantitative research in the approved topics, manage the pace of research to be in line with research plan, and seek guidance from Research Advisor proactively to address any academic issues encountered during the research process. Students are expected to complete their research and present the findings to Research Committee or to Academic Conference by end of the term.
AM 9001 Thesis 1         6 Credits
Each student will undertake research into an approved topic in the relevant area of finance and investment. Supervision will be arranged with expert faculty. Regular conferencing will be required to guide the student towards preparation of the Research Study Proposal for approval. During the phase, the student will concentrate on critically analyze relevant literature from diverse sources to identify areas of interest and topic of research. Towards the end of the first phase, the students should establish a conceptual framework and identify research methodology to be used in the thesis. The students should be ready for a proposal defence.
 AM 9001 Thesis 2  9 Credits
This is the phase in which students present and defend their research proposal before a Committee. Any changes required by the committee are made at this point before fieldwork is undertaken. Upon approval from the committee, the students can perform the analysis in accordance with the research proposal. The students are expected to prepare a well written review of literature, present the results and analysis in the context of current business environment. The thesis is defended before a committee including an external expert. The thesis will only be approved after any changes required by the committee are completed to the satisfaction of all committee members including the committee chairman