成人大片

CORPFIN 7042NA - Corporate Financial Risk Management (M)

Ngee Ann Academy - Trimester 3 - 2017

The course examines the process and instruments used in treasury management and their application in managing risk. Issues will be examined from both a financial institution and non-financial institution perspective. Topics include how financial risk management contributes to firm value; how to measure and manage market risks, credit risks and operational risks and how to deal with implementation issues of enterprise-wide risk management. The course will cover various methodologies of risk measurement and management including value-at-risk, expected shortfall, model-building approach, default probabilities, economic capital, RAROC and Enterprise Risk Management.

  • General Course Information
    Course Details
    Course Code CORPFIN 7042NA
    Course Corporate Financial Risk Management (M)
    Coordinating Unit Adelaide Business School
    Term Trimester 3
    Level Postgraduate Coursework
    Location/s Ngee Ann Academy
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange N
    Prerequisites CORPFIN 7039NA, CORPFIN 7040NA
    Corequisites CORPFIN 7020NA
    Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture
    Course Staff

    Course Coordinator: Dr Thu Phuong Pham

    Location: Room 12.36, 10 Pulteney Street
    Email: thuphuong.pham@adelaide.edu.au

    Course Timetable

    The full timetable of all activities for this course can be accessed from .

  • Learning Outcomes
    Course Learning Outcomes
    On successful completion of this course, students will be able to:
    1. interpret and discuss the role and relevance of financial risk management 
    2. apply various types of derivative securities to moderate financial risk exposures
    3. formulate hedging techniques utilising derivative securities in order to achieve appropriate risk management outcomes 
    4. construct risk management tools, including VaR, to monitor financial risk exposures
    5. comprehend the concept of integrated risk management and how to implement it across firms and financial institutions
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1, 2, 3, 4 and 5
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    1, 2, 3, 4 and 5
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    1, 2, 3, 4 and 5
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    1, 2, 3, 4 and 5
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    1, 2, 3, 4 and 5
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
    1, 2, 3, 4 and 5
  • Learning Resources
    Required Resources
    The core material that will be covered within the course is available on MyUni. However, it is also a requirement that you obtain a copy of the following text and that you supplement your studies of the core material with the text:

    Hull, John C. Risk Management and Financial Institutions, 4th Edition. John Wiley & Sons P&T, March 2015. ISBN: 978-1-118-95594-9

    Recommended Resources
    1) Crouhy, Michel; Dan Galai and Robert Mark. The Essentials of Risk Management, 2nd Edition. McGraw­Hill 2014.
    2) Crouhy, Michel; Dan Galai and Robert Mark. Risk Management, 1st Edition. McGraw­Hill 2000.
    3) Brealey, Richard; Stewart Myers, Franklin Allen. Principles of Corporate Finance. 11th Edition, McGraw­Hill 2013
    4) John C. Hull. Options, Futures and Other Derivatives, 9th Edition, Pearson 2015.
    5) Journal of Applied Corporate Finance, Various issues.
    6) High quality finance journals covering risk management.
    Online Learning
    To provide assistance, all material (except texts) associated with the course is accessible via the course's MyUni website.
  • Learning & Teaching Activities
    Learning & Teaching Modes

    This course is run in seminar mode combining the elements of lecture and tutorial in the one class.

    To facilitate a full understanding of any topic, students are encouraged to both ask questions and participate in inclass activities. If there is material that any student does not understand, asking of questions at any time during the seminar is encouraged.  Concepts from previous courses will serve as foundation for many of the topics under consideration.

    There is an expectation that students will engage in additional readings, as well as the required text to gain a full appreciation of all aspects of the course.

    Workload

    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    The University anticipates full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are likely to need to commit approximately 9 hours for a three-unit course or 13 hours for a four-unit course, of private study outside of your regular attendance in classes.

     

    Learning Activities Summary
    Topic 1- Introduction; risk vs. return
    Topic 2- Volatility
    Topic 3- Value-at-Risk (VAR) and expected shortfall
    Topic 4- Market risk: Historical Simulation, Extreme Value Theory
    Topic 5- Basel I, Basel II, Basel III and Post-Crisis changes
    Topic 6- Credit Risk: Estimating Default Probabilities
    Topic 7- Liquidity Risk
    Topic 8- Operational Risk
    Topic 9- Practice of integrated risk management I: Economic Capital
    Topic 10- Practice of integrated risk management II: Enterprise Risk Management
  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Assessment Task Weighting Learning Outcome
    Assignment 30%
    Final Exam
    3 hours closed book
    70%
    Total 100%
    For specific due dates please see MyUni.
    Assessment Related Requirements

    Statutory obligations in Singapore are such that attendance in person is a compulsory condition of passing a course. Our specific requirements are that students must attend at least 80% of class sessions to be graded for that course. For these purposes each intensive weekend is defined as comprising 5 sessions with 1 on Friday evening and 2 on each of Saturday and Sunday. Each course in total comprises 10 sessions; Students must attend a minimum of 8 sessions to be eligible to be given a grade for the course. Students failing to meet these requirements will be automatically graded 0% Fail (F) on their transcripts.

    In addition to the statutory obligations mentioned above, to gain a pass for this course, a mark of at least 45% must be obtained in the final examination as well as a total of at least 50% overall. Students who fail to achieve the minimum examination mark will be awarded no more than 49%.

    Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. Marks may be deducted in all assessments because of poor hand-writing or English expression.

    Students in this course are not permitted to take a DICTIONARY (English or English-Foreign) into the examination. 

    The use of a non-programmable calculator is permitted in this course.

    Assessment Detail
    Assignment containing research, problem solving and critiques of scenarios based on real world financial market data. Students are encouraged to work and submit assignment in a small group of maximum 2 members.
    Submission

    Notes on Assessment
    All set work including assignments and class test must be provided by the due date and must be genuine attempts, to complete the course.
    Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. You may lose marks because of poor hand-writing, poor presentation and/or poor grammar.
    Any assignment submitted after the advised due date will incur a penalty of 10% of the total available mark per work day.

    Presentation of Assignments
    Retain a copy of all assignments submitted.
    All group assignments must be attached to a ‘Group Assignment Cover Sheet’, which must be signed and dated by all group members before submission. All team members are expected to contribute approximately equally to a group assignment.

    Assignments, which do not have a signed acknowledgement of the University’s policy on plagiarism, may be refused.

    Assignment Guidelines including Referencing Details
    A copy of the Communication Skills Guide will have been given to you at the beginning of your program. This guide will assist you structure your assignments. The publication also provides guidelines on a range of other important communication skills including writing essays and management reports, making oral presentations etc. In preparing any written piece of assessment for your postgraduate studies it is important to draw on the relevant ‘literature’ to support critical analysis. Also essential is to reference the literature used. Correct referencing is important because it identifies the source of the ideas and arguments that you present, and sometimes the source of the actual words you use, and helps to avoid the problem of plagiarism. (Further information on plagiarism is provided later in this course outline.)

    The Harvard system is the preferred style of referencing for this course. Guidelines for the use of this style of referencing can be found in the Communication Skills Guide. Further assistance with referencing is available from the Faculty’s Learning Support Advisors. The contact details are provided in the Communication Skills Guide.

    Late Assignment Submission
    Students are expected to submit their work by the due date to maintain a fair and equitable system. Extensions will generally only be given for medical or other serious reasons. Other assignments or too much work are considered not to be valid reasons. All requests for extensions must be emailed to the lecturer in charge of the course before the due date.
    Each request will be assessed on its merits.

    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through .

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student鈥檚 disciplinary procedures.

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