112-2_金融倫理
教學目標
-------------------------------------------------------------------------------------- 視訊平台: Microsoft Teams URL: https://teams.microsoft.com/l/team/19%3arpUmqtvM3DX8yH0NY1TTzwFwp7S50i4Tt3tqyn6F2Ck1%40thread.tacv2/conversations?groupId=3c592d96-bf2d-455c-9719-8021b84de1a9&tenantId=5a484953-77ef-42ec-90cf-2f4e1037ffc7 -------------------------------------------------------------------------------------- This course on financial ethics will be taught from a global and multi-disciplinary perspective as it integrates philosophy with management, economics, strategy, law, and public policy. The objectives of this course are to: 1.) Introduce students to a conceptual framework that will facilitate the examination of the range of ethical issues that arise when conducting business in today’s global marketplace; 2.) Encourage student thinking, reasoning and decision making from the points of view of various stakeholders (customers, employees, suppliers, governments, society) as each of these relationships creates ethical challenges and responsibilities. Students should consider such ethical issues in terms of the type of life they themselves wish to lead and the type of public policy for governing business that they are willing to support.
授課形式
理論講述與討論-20.00%;個案分析或作品賞析-80.00%;專題實作與報告-0.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.) Course introduction 2.) Case 1: Monsanto attempts to balance stakeholder interests (Chapter 1) 3.) Case 2: Starbucks' mission: social responsibility and brand strength (Chapter 2) 4.) Case 3: Enron: questionable accounting leads to collapse (Chapter 3) 5.) Case 4: Tyco international: leadership crisis (Chapter 4) 6.) Case 5: Home depot implements stakeholder orientation (Chapter 5) 7.) Case 6: Arthur andersen: questionable accounting practices (Chapter 6) 8.) Enron (the movie) 9.) Midterm exam 10.) Case 7: Coping with financial and ethical risks at AIG (Chapter 7) 11.) Case 8: The fraud of the century: the case of bernard madoff (Chapter 8) 12.) Case 9: The coca-cola company struggles with ethical crises (Chapter 9) 13.) Case 10: BP focuses on sustainability (Chapter 10) 14.) Case 11: The american red cross (Chapter 11) 15.) Case 12: Countrywide financial: the subprime meltdown (Chapter 12) 16.) Case 13: Banking industry meltdown: the ethical and financial risks of derivatives (Chapter 13) 17.) Inside job (the movie) 18.) Final exam
教科書/參考書
1.) "Ethical Decision Making for Business" (8th edition), by John Fraedrich, OC Ferrell, and Linda Ferrell, South-Western Cengage Learning, 2011; 2.) The Wall Street Journal; 3.) Handouts and case studies, as directed.
評分標準
Major factors entering into grade determination will consist of: 1.) Class attendance and contribution to class discussion (20%); 2.) Participation in, and communication with respect to group/individual project (40%); 3.) Comprehensive final examination (40%). * NO extra credit allowed.
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
37
-------------------------------------------------------------------------------------- 視訊平台: Microsoft Teams URL: https://teams.microsoft.com/l/team/19%3arpUmqtvM3DX8yH0NY1TTzwFwp7S50i4Tt3tqyn6F2Ck1%40thread.tacv2/conversations?groupId=3c592d96-bf2d-455c-9719-8021b84de1a9&tenantId=5a484953-77ef-42ec-90cf-2f4e1037ffc7 -------------------------------------------------------------------------------------- This course on financial ethics will be taught from a global and multi-disciplinary perspective as it integrates philosophy with management, economics, strategy, law, and public policy. The objectives of this course are to: 1.) Introduce students to a conceptual framework that will facilitate the examination of the range of ethical issues that arise when conducting business in today’s global marketplace; 2.) Encourage student thinking, reasoning and decision making from the points of view of various stakeholders (customers, employees, suppliers, governments, society) as each of these relationships creates ethical challenges and responsibilities. Students should consider such ethical issues in terms of the type of life they themselves wish to lead and the type of public policy for governing business that they are willing to support.
授課形式
理論講述與討論-20.00%;個案分析或作品賞析-80.00%;專題實作與報告-0.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.) Course introduction 2.) Case 1: Monsanto attempts to balance stakeholder interests (Chapter 1) 3.) Case 2: Starbucks' mission: social responsibility and brand strength (Chapter 2) 4.) Case 3: Enron: questionable accounting leads to collapse (Chapter 3) 5.) Case 4: Tyco international: leadership crisis (Chapter 4) 6.) Case 5: Home depot implements stakeholder orientation (Chapter 5) 7.) Case 6: Arthur andersen: questionable accounting practices (Chapter 6) 8.) Enron (the movie) 9.) Midterm exam 10.) Case 7: Coping with financial and ethical risks at AIG (Chapter 7) 11.) Case 8: The fraud of the century: the case of bernard madoff (Chapter 8) 12.) Case 9: The coca-cola company struggles with ethical crises (Chapter 9) 13.) Case 10: BP focuses on sustainability (Chapter 10) 14.) Case 11: The american red cross (Chapter 11) 15.) Case 12: Countrywide financial: the subprime meltdown (Chapter 12) 16.) Case 13: Banking industry meltdown: the ethical and financial risks of derivatives (Chapter 13) 17.) Inside job (the movie) 18.) Final exam
教科書/參考書
1.) "Ethical Decision Making for Business" (8th edition), by John Fraedrich, OC Ferrell, and Linda Ferrell, South-Western Cengage Learning, 2011; 2.) The Wall Street Journal; 3.) Handouts and case studies, as directed.
評分標準
Major factors entering into grade determination will consist of: 1.) Class attendance and contribution to class discussion (20%); 2.) Participation in, and communication with respect to group/individual project (40%); 3.) Comprehensive final examination (40%). * NO extra credit allowed.
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
37
112-2_計算財務
教學目標
本課程預計延續第一學期的財務工程，進一步探討財務工程領域中，所使用到的數值方法和理論模型，並將其程式化應用，如: 蒙地卡羅法與路徑相依選擇權計價、有限差分法、Black-Scholes模型下的美式選擇權計價等。並且學生需要在虛擬平台上進行避險策略測試。
授課形式
理論講述與討論-100.00%;個案分析或作品賞析-0.00%;專題實作與報告-0.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1. Simulation with Stochastic Differential Equations
2. Dynamic Hedging Strategies
3. The Monte Carlo Method
4. Finite Difference Methods
5. Estimate Volatility with High-frequency Data
6. Applications of Optimisation Problems and Entropy: Parameter Estimation, Risk-neutral Probability Estimation, Random Forest and LSTM
7. Building Tree Models for Ito's Processes (Optional)
教科書/參考書
1. Dixit, A.K. and Pindyck, R.S. (1994). Investment under Uncertainty. Princeton University Press.
2. Seydel, R. (2012). Tools for Computational Finance (5th Edition). Springer.
評分標準
原始總分計算方式：
1. 避險策略虛擬交易: 40% - 50%
2. 程式問題: 100% - 虛擬交易所佔分數
3. 其它加分（服務、虛擬交易績效）
學期總分以標準化分數轉換，轉換步驟將公布於課程規則。
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
6
本課程預計延續第一學期的財務工程，進一步探討財務工程領域中，所使用到的數值方法和理論模型，並將其程式化應用，如: 蒙地卡羅法與路徑相依選擇權計價、有限差分法、Black-Scholes模型下的美式選擇權計價等。並且學生需要在虛擬平台上進行避險策略測試。
授課形式
理論講述與討論-100.00%;個案分析或作品賞析-0.00%;專題實作與報告-0.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1. Simulation with Stochastic Differential Equations
2. Dynamic Hedging Strategies
3. The Monte Carlo Method
4. Finite Difference Methods
5. Estimate Volatility with High-frequency Data
6. Applications of Optimisation Problems and Entropy: Parameter Estimation, Risk-neutral Probability Estimation, Random Forest and LSTM
7. Building Tree Models for Ito's Processes (Optional)
教科書/參考書
1. Dixit, A.K. and Pindyck, R.S. (1994). Investment under Uncertainty. Princeton University Press.
2. Seydel, R. (2012). Tools for Computational Finance (5th Edition). Springer.
評分標準
原始總分計算方式：
1. 避險策略虛擬交易: 40% - 50%
2. 程式問題: 100% - 虛擬交易所佔分數
3. 其它加分（服務、虛擬交易績效）
學期總分以標準化分數轉換，轉換步驟將公布於課程規則。
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
6
112-2_金融市場
教學目標
The course provides an introduction to key concepts and models of financial markets. A set of basic analytical tools and their applications in financial markets will be offered so students can easily apply them for policy analyses. The purpose of the subject is to give students knowledge in the field of financial markets and their importance in every economic system. The subject makes it possible to obtain both theoretical and practical knowledge in all fields of financial market structure. It considers financial institutions, existing financial instruments, and all types of operations in financial markets.
授課形式
理論講述與討論-50.00%;個案分析或作品賞析-0.00%;專題實作與報告-50.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
教科書/參考書
Supplemental Material: Some empirical studies will be assigned in class. Stata programming will also be demonstrated during the classes. We will also discuss the trend of Taiwan and the global financial in several recent issues of The Taiwan Banker.
評分標準
學分數
3
授課時數(周)
3
開課班級
M11132
修課人數
17
The course provides an introduction to key concepts and models of financial markets. A set of basic analytical tools and their applications in financial markets will be offered so students can easily apply them for policy analyses. The purpose of the subject is to give students knowledge in the field of financial markets and their importance in every economic system. The subject makes it possible to obtain both theoretical and practical knowledge in all fields of financial market structure. It considers financial institutions, existing financial instruments, and all types of operations in financial markets.
授課形式
理論講述與討論-50.00%;個案分析或作品賞析-0.00%;專題實作與報告-50.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Course Outline:
|
Week |
Date |
Topic |
|
|
1 |
02/19 - 02/23 |
Endnote X7、Word、Excel |
|
|
2 |
02/26 - 03/01 |
2008金融海嘯源起 |
|
|
3 |
03/04 - 03/08 |
黑金風暴 Inside Job |
|
|
4 |
03/11 - 03/15 |
台灣金融發展史 |
|
|
5 |
03/18 - 03/22 |
台灣金融發展史 |
|
|
6 |
03/25 - 03/29 |
Stata Programming I |
|
|
7 |
04/01 - 04/05 |
Stata Programming II |
|
|
8 |
04/08 - 04/12 |
Stata Programming III |
|
|
9 |
04/15 - 04/19 |
台灣銀行家x 3 |
|
|
10 |
04/22 - 04/26 |
台灣銀行家 x 3 |
|
|
11 |
04/29 - 05/03 |
台灣銀行家 x 3 |
|
|
12 |
05/06 - 05/10 |
台灣銀行家 x 3 |
|
|
13 |
05/13 - 05/17 |
台灣銀行家 x 3 |
|
|
14 |
05/20 - 05/24 |
台灣銀行家 x 4 |
|
|
15 |
05/27 - 05/31 |
台灣銀行家 x 4 |
|
|
16 |
06/03 - 06/07 |
台灣銀行家 x 4 |
|
|
17 |
06/10 - 06/14 |
端午節 |
|
|
18 |
06/17 - 06/21 |
台灣銀行家 x 3 |
|
** The above is a tentative course schedule. Hopefully, we will get through all the listed topics
教科書/參考書
Supplemental Material: Some empirical studies will be assigned in class. Stata programming will also be demonstrated during the classes. We will also discuss the trend of Taiwan and the global financial in several recent issues of The Taiwan Banker.
評分標準
Course Evaluation Process:
Grading:
Your final grade will be based on your performance in participation, assignments, and issue presentations of the Taiwan Banker. All grading is done on a percentage basis. The grading criteria are as follows.
Attendance 20%
Assignments 20%
Presentations 60%
All grading is done on a percentage basis.
Attendance Policy
Students are required to attend the class. Students are fully responsible for being in the class. If there is any excusable reason, you must notify me of the absence in advance. The participation score is calculated by the percentage of all classes held this semester. Your participation grade will be based on your performance and attendance in class. You earn 2 points for the roll call when you are in class. You get 1.5 points when you show up late after the roll call. You have 1 point when you are permitted to take a leave. You have no points when you miss the class. Therefore, the class participation score equals the sum of all points divided by 2N points (2 points * N weeks) and time 100. Students are fully responsible for the materials taught in the class. Attendance accounts for 20% of the final grade.
Presentation
Students must present the assigned articles on the recent issues of The Taiwan Banker. Every student has a maximum of 30 minutes for the presentation. In the presentation, students should not only present the contents of the article but also define and extend the terms and issues of the article.
學分數
3
授課時數(周)
3
開課班級
M11132
修課人數
17
112-2_國際財務管理
教學目標
國際金融市場的自由化與企業營運的國際化提供企業更多的利益與機會，與此同時，企業經營者也必須要考慮更多的複雜因素以分散投資風險，例如: 利用國際資本市場的不完全性以降低資金成本，或透過資金調度以節稅等。本課程目標在於使學生對全球化的財務管理問題有著深入的理解，瞭解國際財務金融理論，進而建立多國企業財務管理以及國際證券投資的分析決策能力。
授課形式
理論講述與討論-50.00%;個案分析或作品賞析-0.00%;專題實作與報告-50.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Part I. International Capital Markets 1.International Debt Financing 2.International Equity Financing 3.International Capital Market Equilibrium PART II. International Corporate Finance 4.International Capital Budgeting 5.Additional Topics in International Capital Budgeting (optional) 6.Risk Management and the Foreign Currency Hedging Decision 7.Financing International Trade PART III. Paper discussion
教科書/參考書
(參考書籍)Bekaert, G., & Hodrick, R. (2018). International financial management 3/e. Cambridge University Press.
評分標準
1. Midterm Exam (30%) 2. Group Paper Presentation (30%) 3. Final Report (30%) 4. Class Discussion and Participation (10%)
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
9
國際金融市場的自由化與企業營運的國際化提供企業更多的利益與機會，與此同時，企業經營者也必須要考慮更多的複雜因素以分散投資風險，例如: 利用國際資本市場的不完全性以降低資金成本，或透過資金調度以節稅等。本課程目標在於使學生對全球化的財務管理問題有著深入的理解，瞭解國際財務金融理論，進而建立多國企業財務管理以及國際證券投資的分析決策能力。
授課形式
理論講述與討論-50.00%;個案分析或作品賞析-0.00%;專題實作與報告-50.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Part I. International Capital Markets 1.International Debt Financing 2.International Equity Financing 3.International Capital Market Equilibrium PART II. International Corporate Finance 4.International Capital Budgeting 5.Additional Topics in International Capital Budgeting (optional) 6.Risk Management and the Foreign Currency Hedging Decision 7.Financing International Trade PART III. Paper discussion
教科書/參考書
(參考書籍)Bekaert, G., & Hodrick, R. (2018). International financial management 3/e. Cambridge University Press.
評分標準
1. Midterm Exam (30%) 2. Group Paper Presentation (30%) 3. Final Report (30%) 4. Class Discussion and Participation (10%)
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
9
112-2_投資學
教學目標
本課程為金管系碩士班學生必修課目，適合已修習會計學、經濟學、統計學及微積分之學生修課。投資學的主題在探索資產的報酬與價格之決定，本課程將重心置於股票報酬與價格之決定因素與相關議題，並訓練修習的學生具備碩士等級的投資學相關基礎理論和實證方法與成果之知識。
授課形式
理論講述與討論-40.00%;個案分析或作品賞析-30.00%;專題實作與報告-30.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
課程內容包括以下幾個部分: (1) 系統性風險 (1-2週) (2) 非系統性風險 (3-6週) (3) 流動性風險 (7-9週) (4) 價值與成長型投資 (10-13週) (5) 短期價格記憶 (short-run price momentum) (14-16週) (6) 股價的預期因子 (predictability) (17週) (7) 資產評價之新發展 (18週)。詳細的章節將安排在課程內容中列示。
教科書/參考書
上課參考用書為 “Bodie, Zvi, Alex Kane, and Alan J. Marcus, 2007, Investment, The Mcgraw-Hill Companies Inc.” [新陸書局: 02-23512587] (1) 系統性風險 (1-2週) 黃一祥，2009，「系統性風險之估計及對橫斷面股票報酬之解釋能力- 投資組合重構頻率之影響」，《證券市場發展季刊》，第21卷第3期，107-142頁。 黃一祥，2009，「人力所得、條件資本資產評價模式、及橫斷面股票報酬」，《財務金融學刊》，第17卷第1期，41-74頁。 黃一祥、王元章、何加政、許嘉惠，2003，「台灣股市系統性風險之估計及橫斷面預期報酬之分析」，《財務金融學刊》，11(3)，1-33。 Fama, Eugene F., and Kenneth R. French, 1992, The cross-section of expected stock returns, Journal of Finance 47, 427-465. (2) 非系統性風險 (3-6週) 黃一祥、呂耿光、黃旭輝、張志向，2010，「公司特有風險與橫斷面股票預期報酬-台灣股市之實證」，《經濟論文》，第38卷第3期，503-542頁。 Ang, A. R.J. Hodrick, Y. Xing, and X. Zhang, 2006, The cross-section of volatility and expected returns, Journal of Finance, 61, 259-299. Ang, A. R.J. Hodrick, Y. Xing, and X. Zhang, 2009, High idiosyncratic volatility and low returns: International and further U.S. evidence, Journal of Financial Economics, 91, 1-23. Bali, T. G., N. Cakici, X. Yan, and Z. Zhang. 2005. Does idiosyncratic risk really matter? Journal of Finance 60, 905–29. Bali, T. G., and N. Cakici, 2008. Idiosyncratic volatility and the cross section of expected returns, Journal of Financial and Quantitative Analysis, 43, 29-58. Bodnaruk, A. and P. Ostberg, 2009, Does investor recognition predict returns? Journal of Financial Economics, 91, 208-226. Gaspar, Jose´-Miguel and Massimo Massa, 2006. Idiosyncratic Volatility and Product Market Competition, Journal of Business, 79, 3125-3152. Goyal, A., and P. Santa-Clara, 2003, Idiosyncratic Risk Matters! Journal of Finance 58, 975–1007. Wei, S. X., and C. Zhang. 2006. Why did individual stocks become more volatile? Journal of Business 79:259–292. Mashruwala, Christina, Shivaram Rajgopal and Terry Shevlin, 2006. Why is the accrual anomaly not arbitraged away? The role of idiosyncratic risk and transaction costs. Journal of Accounting and Economics, 42, 3-33. Xu, Yexiao, and Burton G. Malkiel, 2003. Investigating the behavior of idiosyncratic volatility, Journal of Business, 76, 613-644. (3) 流動性風險 (7-9週) Acharya, V.V., and L. H. Pedersen, 2005. Asset pricing with liquidity risk, Journal of Financial Economics, 77,375–410. Amihud, Y., 2002. Illiquidity and Stock Returns: Cross Section and Time Series Effects, Journal of Financial Markets, 5, 31-56. Barclay, M.J., and T. Hendershott, 2004. Liquidity externalities and adverse selection: evidence from trading after hours, Journal of Finance, 58, 681–710. Bekaert Geert, Harvey Campbell R. and Christian Lundblad, 2007, Liquidity and Expected Returns: Lessons from Emerging Markets, Review of Financial Studies, 20, 1-49. Chan, Wesley S., 2003, Stock price reaction to news and no-news: Drift and reversal after headlines, Journal of Financial Economics, 70, 223–260. Garfinkel, Jon A., and Jonathan Sokobin, 2006, Volume, Opinion Divergence, and Returns: A Study of Post–Earnings Announcement Drift, Journal of Accounting Research, 44,85-112. Gervais, Simon, Ron Kaniel, and Dan H. Mingelgrin, 2001, The High-Volume Return Premium, Journal of Finance, 56, 877–919. Korajczyk, R. A. , and R. Sadka, 2008, Pricing the commonality across alternative measures of liquidity, Journal of Financial Economics, 87, 45-72. Lesmond, D. A., 2005, Liquidity of Emerging Markets, Journal of Financial Economics, 77, 411-452. Pastor, L. and R.F. Stambaugh, 2003, Liquidity Risk and Expected Stock Returns, Journal of Political Economy, 111, 642-685. (4) 價值與成長型投資 (10-12週) Ali, A., Hwang, L., and M. Trombley, 2003, Arbitrage risk and the book-to-market anomaly, Journal of FinancialEconomics, 69, 355–373. Bansal, Ravi, and Amir Yaron, 2004, Risks for the long-run: A potential resolution of asset pricing puzzles, Journal of Finance, 59, 1481-1509. Desai, H., Rajgopal, S., and M. Venkatachalam, 2004, Value glamour and accrual mispricing, One anomaly or two? The Accounting Review 79, 355–385. Cohen, Randolph B., Christopher Polk, and Tuomo Vuolteenaho, 2003, The value spread, Journal of Finance, 58, 609-641. Conrad, Jennifer, Michael Cooper, and Gautam Kaul, 2003, Value versus Glamour, Journal of Finance, 58, 1969-1995. Fama, Eugene F., and Kenneth R. French, 2006, The value premium and the CAPM, Journal of Finance, 61, 55-84. Fama, Eugene F., and Kenneth R. French, 2008, Average returns, B/M, and share issues, Journal of Finance, 63, 2971-2995. Huang, I-Hsiang, 2011, “The cyclical behavior of the risk of value strategy: Evidence from Taiwan,” Pacific-Basin Finance Journal, 19, 404-419. Patkova, Ralitsa, and Lu Zhang, 2005, Is value riskier than growth? Journal of Financial Economics, 78, 187-202. Zhang, Lu, 2005, The value premium, Journal of Finance, 60, 67-103. Lettau, martin, and Jessica A. Wachter, 2007, Why is long-horizon equity less risky？A duration-based explanation of the value premium, Journal of Finance, 62, 55-92. Penman, Stephen H., Scott A. Richardson, and irem Tuna, 2007, The book-to-price effect in stock returns: Accounting for leverage, Journal of Accounting Research, 45, 427-467. (5) 短期價格動能 (price momentum) (13-15週) Badrinath, S., and S. Wahal, 2002, Momentum trading by institutions, Journal of Finance, 57(6), 2449–2478. Chordia, Tarun and Lakshmanan, Shivakumar, 2006, Earnings and price momentum, Journal of Financial Economics, 80, 627-656. Cooper, M., Gutierrez Jr., and R.C., A. Hameed, 2004, Market states and momentum, Journal of Finance, 59, 1345–1365. Griffin, J. M. X. Ji, and J. S. Martin, 2003, Momentum investing and business cycle risk: Evidence from pole to pole, Journal of Finance, 58, 2515-2547. Grinblatt, M., and T. J. Moskowitz, 2004, Predicting stock price movements from past return: The role of consistency and tax-loss selling, Journal of Financial Economics, 71(3), 541–579. Grinblatt, Mark, and Bin Han, 2005, Prospect theory, mental accounting, and momentum, Journal of Financial Economics, 78, 311–339. Heston, S.L., and R. Sadka, 2008, Seasonality in the cross-section of stock returns, Journal of Financial Economics, 87, 418-445. Hvidkjaer, Soeren , 2006, A Trade-Based Analysis of Momentum, The Review of Financial Studies, 19, 457-491. Jegadeesh, N., and S. Titman, 2001, Profitability of momentum strategies: an evaluation of alternative explanations, Journal of Finance, 56, 699–720. Korajczyk, R., Sadka, R., 2004, Are momentum profits robust to trading costs? Journal of Finance, 59,1039–1082. Lesmond, D., Schill, M., and C. Zhou, 2004, The illusory nature of momentum profits, Journal of Financial Economics, 71, 349–380. Sadka Ronnie, 2006, Momentum and post-earnings-announcement drift anomalies: The role of liquidity risk, Journal of Financial Economics, 80, 309-349. (6) 可預期股價 (predictability) (16週) Ang A., and G. Bekaert, 2007, Stock return predictability: Is it there ? Review of Financial Studies, 20,651-707. Bhojraj, S., and B. Swaminathan, 2004, Macromomentum: Returns Predictability in International Equity Indices, Journal of Business, 79(1), 429–451. Cohen, R., P. Gompers, and T. Vuolteenaho, 2003, Who underreacts to cash-flow news? Evidence from trading between Individuals and Institutions, Journal of Financial Economics, 66, 409–462. Goyal, A., and I. Welch, 2003, Predicting the equity premium with dividend ratios. Management Science, 49, 639-654. Hanna, J. Douglas, and Mark J. Ready, 2005, Profitable predictability in the cross section of stock returns, Journal of Financial Economics, 78, 463–505 Hecht, Peter. And Tuomo Vuolteenaho, 2006, Explaining Returns with Cash-Flow Proxies, The Review of Financial Studies, 19,159-194. Lettau, Martin., and Sydney C. Ludvigson, 2005, Expected returns and expected dividend growth. Journal of Financial Economics,76,583–626. Lewellen, J., 2003, Predicting returns with financial ratios, Journal of Financial Economics, 74, 209–235. Menzly, L., Santos, T., and P. Veronesi, 2004, Understanding predictability, Journal of Political Economy, 112 (1), 1–47. (7) Currency risk (17週) Brennan, Michael J., and Yihong Xia, 2006, International capital markets and foreign exchange risk, Review of Financial Studies, 19, 753-795. Carrieri, Francesca, Vihang Errunza, and Basma Majerbi, 2006, Does emerging market exchange risk affect global equity prices? Journal of Financial and Quantitative Analysis, 41, 511-540. Kolari, james W., Ted C. Moorman, and Sorin M. Sorescu, 2008, Foreign exchange risk and the cross-section of stock returns, Journal of International Money and Finance, 27,1074-1097. (8) New development in asset pricing (18週) Grout, P. A. and A. Zalewska, 2006, The impact of regulation on market risk, Journal of Financial Economics, 80, 149-184. Jagannathan, R. and Y. Wang, 2007, Lazy investors, discretionary consumption, and the cross-section of stock returns, Journal of Finance, 62, 1623-1661. Lemmon, M., and E. Portniaguina, 2006, Consumer confidence and asset prices: Some empirical evidence, Review of Financial Studies, 19, 1499-1529. Larrain, B., and M. Yogo, 2008, Does firm value move too much to be justified by subsequent changes in cash flow? Journal of Financial Economics,87, 200-226. Yogo, Motohiro, 2005, A consumption-based explanation of the cross section of expected stock returns, Journal of Finance, 60, 539-580. Santa-Clara, P., and R. Valkanov, 2003, Political cycles and the stock market, Journal of Finance, 58, 1841-1872.
評分標準
本課程之評分項目包括期中考、期末考以及平常查考等三部分，其佔學期總成績比重分別為20%、20%及60%，總成績最高為100分，70分及格。 平常查考成績分為兩部分: (1)上課參與情形 (2) 學生的文獻報告與評論，其分別各佔平常查考成績的35%和65%。上課參與情形項目包括出席上課、課堂的教學回應與參與情形，上課表現良好和不佳的情形，每次加(或減) 上課參與情形之成績5分(即總分1.05分=35%*60%*5分)，上課參與情形的基本分數以80分計算 (即總分16.8分=35%*60%*80分)。基本上，第一次、第二次、第三次無故缺席扣上課參與情形的30%、35%、35%。若有超過三次以上之無故缺席，其每超過一次 (即第四次以後) 的無故缺席則另外加扣總學期成績7分。第一次、第二次、第三次無故遲到早退扣上課參與情形的8%、12%、15%。若有超過四次之無故遲到早退者，其每超過一次則另外加扣總學期成績2分。上課未帶課本者每次扣總成績2分。 若上課參與情形項目的總分已被扣完，但仍有缺曠課或上課表現不好等情事，則倒扣其他項目分數。即平常查考雖已被扣至零分，仍有缺曠課者將另外倒扣其他總分。例如，四次無故缺席者被扣總成績為28分 (=35%*60%*100+7分)，此時即使您的其他項目都得滿分，學期總成績亦只有72分 (=100分-28分)。請勿穿拖鞋上課。
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
8
本課程為金管系碩士班學生必修課目，適合已修習會計學、經濟學、統計學及微積分之學生修課。投資學的主題在探索資產的報酬與價格之決定，本課程將重心置於股票報酬與價格之決定因素與相關議題，並訓練修習的學生具備碩士等級的投資學相關基礎理論和實證方法與成果之知識。
授課形式
理論講述與討論-40.00%;個案分析或作品賞析-30.00%;專題實作與報告-30.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
課程內容包括以下幾個部分: (1) 系統性風險 (1-2週) (2) 非系統性風險 (3-6週) (3) 流動性風險 (7-9週) (4) 價值與成長型投資 (10-13週) (5) 短期價格記憶 (short-run price momentum) (14-16週) (6) 股價的預期因子 (predictability) (17週) (7) 資產評價之新發展 (18週)。詳細的章節將安排在課程內容中列示。
教科書/參考書
上課參考用書為 “Bodie, Zvi, Alex Kane, and Alan J. Marcus, 2007, Investment, The Mcgraw-Hill Companies Inc.” [新陸書局: 02-23512587] (1) 系統性風險 (1-2週) 黃一祥，2009，「系統性風險之估計及對橫斷面股票報酬之解釋能力- 投資組合重構頻率之影響」，《證券市場發展季刊》，第21卷第3期，107-142頁。 黃一祥，2009，「人力所得、條件資本資產評價模式、及橫斷面股票報酬」，《財務金融學刊》，第17卷第1期，41-74頁。 黃一祥、王元章、何加政、許嘉惠，2003，「台灣股市系統性風險之估計及橫斷面預期報酬之分析」，《財務金融學刊》，11(3)，1-33。 Fama, Eugene F., and Kenneth R. French, 1992, The cross-section of expected stock returns, Journal of Finance 47, 427-465. (2) 非系統性風險 (3-6週) 黃一祥、呂耿光、黃旭輝、張志向，2010，「公司特有風險與橫斷面股票預期報酬-台灣股市之實證」，《經濟論文》，第38卷第3期，503-542頁。 Ang, A. R.J. Hodrick, Y. Xing, and X. Zhang, 2006, The cross-section of volatility and expected returns, Journal of Finance, 61, 259-299. Ang, A. R.J. Hodrick, Y. Xing, and X. Zhang, 2009, High idiosyncratic volatility and low returns: International and further U.S. evidence, Journal of Financial Economics, 91, 1-23. Bali, T. G., N. Cakici, X. Yan, and Z. Zhang. 2005. Does idiosyncratic risk really matter? Journal of Finance 60, 905–29. Bali, T. G., and N. Cakici, 2008. Idiosyncratic volatility and the cross section of expected returns, Journal of Financial and Quantitative Analysis, 43, 29-58. Bodnaruk, A. and P. Ostberg, 2009, Does investor recognition predict returns? Journal of Financial Economics, 91, 208-226. Gaspar, Jose´-Miguel and Massimo Massa, 2006. Idiosyncratic Volatility and Product Market Competition, Journal of Business, 79, 3125-3152. Goyal, A., and P. Santa-Clara, 2003, Idiosyncratic Risk Matters! Journal of Finance 58, 975–1007. Wei, S. X., and C. Zhang. 2006. Why did individual stocks become more volatile? Journal of Business 79:259–292. Mashruwala, Christina, Shivaram Rajgopal and Terry Shevlin, 2006. Why is the accrual anomaly not arbitraged away? The role of idiosyncratic risk and transaction costs. Journal of Accounting and Economics, 42, 3-33. Xu, Yexiao, and Burton G. Malkiel, 2003. Investigating the behavior of idiosyncratic volatility, Journal of Business, 76, 613-644. (3) 流動性風險 (7-9週) Acharya, V.V., and L. H. Pedersen, 2005. Asset pricing with liquidity risk, Journal of Financial Economics, 77,375–410. Amihud, Y., 2002. Illiquidity and Stock Returns: Cross Section and Time Series Effects, Journal of Financial Markets, 5, 31-56. Barclay, M.J., and T. Hendershott, 2004. Liquidity externalities and adverse selection: evidence from trading after hours, Journal of Finance, 58, 681–710. Bekaert Geert, Harvey Campbell R. and Christian Lundblad, 2007, Liquidity and Expected Returns: Lessons from Emerging Markets, Review of Financial Studies, 20, 1-49. Chan, Wesley S., 2003, Stock price reaction to news and no-news: Drift and reversal after headlines, Journal of Financial Economics, 70, 223–260. Garfinkel, Jon A., and Jonathan Sokobin, 2006, Volume, Opinion Divergence, and Returns: A Study of Post–Earnings Announcement Drift, Journal of Accounting Research, 44,85-112. Gervais, Simon, Ron Kaniel, and Dan H. Mingelgrin, 2001, The High-Volume Return Premium, Journal of Finance, 56, 877–919. Korajczyk, R. A. , and R. Sadka, 2008, Pricing the commonality across alternative measures of liquidity, Journal of Financial Economics, 87, 45-72. Lesmond, D. A., 2005, Liquidity of Emerging Markets, Journal of Financial Economics, 77, 411-452. Pastor, L. and R.F. Stambaugh, 2003, Liquidity Risk and Expected Stock Returns, Journal of Political Economy, 111, 642-685. (4) 價值與成長型投資 (10-12週) Ali, A., Hwang, L., and M. Trombley, 2003, Arbitrage risk and the book-to-market anomaly, Journal of FinancialEconomics, 69, 355–373. Bansal, Ravi, and Amir Yaron, 2004, Risks for the long-run: A potential resolution of asset pricing puzzles, Journal of Finance, 59, 1481-1509. Desai, H., Rajgopal, S., and M. Venkatachalam, 2004, Value glamour and accrual mispricing, One anomaly or two? The Accounting Review 79, 355–385. Cohen, Randolph B., Christopher Polk, and Tuomo Vuolteenaho, 2003, The value spread, Journal of Finance, 58, 609-641. Conrad, Jennifer, Michael Cooper, and Gautam Kaul, 2003, Value versus Glamour, Journal of Finance, 58, 1969-1995. Fama, Eugene F., and Kenneth R. French, 2006, The value premium and the CAPM, Journal of Finance, 61, 55-84. Fama, Eugene F., and Kenneth R. French, 2008, Average returns, B/M, and share issues, Journal of Finance, 63, 2971-2995. Huang, I-Hsiang, 2011, “The cyclical behavior of the risk of value strategy: Evidence from Taiwan,” Pacific-Basin Finance Journal, 19, 404-419. Patkova, Ralitsa, and Lu Zhang, 2005, Is value riskier than growth? Journal of Financial Economics, 78, 187-202. Zhang, Lu, 2005, The value premium, Journal of Finance, 60, 67-103. Lettau, martin, and Jessica A. Wachter, 2007, Why is long-horizon equity less risky？A duration-based explanation of the value premium, Journal of Finance, 62, 55-92. Penman, Stephen H., Scott A. Richardson, and irem Tuna, 2007, The book-to-price effect in stock returns: Accounting for leverage, Journal of Accounting Research, 45, 427-467. (5) 短期價格動能 (price momentum) (13-15週) Badrinath, S., and S. Wahal, 2002, Momentum trading by institutions, Journal of Finance, 57(6), 2449–2478. Chordia, Tarun and Lakshmanan, Shivakumar, 2006, Earnings and price momentum, Journal of Financial Economics, 80, 627-656. Cooper, M., Gutierrez Jr., and R.C., A. Hameed, 2004, Market states and momentum, Journal of Finance, 59, 1345–1365. Griffin, J. M. X. Ji, and J. S. Martin, 2003, Momentum investing and business cycle risk: Evidence from pole to pole, Journal of Finance, 58, 2515-2547. Grinblatt, M., and T. J. Moskowitz, 2004, Predicting stock price movements from past return: The role of consistency and tax-loss selling, Journal of Financial Economics, 71(3), 541–579. Grinblatt, Mark, and Bin Han, 2005, Prospect theory, mental accounting, and momentum, Journal of Financial Economics, 78, 311–339. Heston, S.L., and R. Sadka, 2008, Seasonality in the cross-section of stock returns, Journal of Financial Economics, 87, 418-445. Hvidkjaer, Soeren , 2006, A Trade-Based Analysis of Momentum, The Review of Financial Studies, 19, 457-491. Jegadeesh, N., and S. Titman, 2001, Profitability of momentum strategies: an evaluation of alternative explanations, Journal of Finance, 56, 699–720. Korajczyk, R., Sadka, R., 2004, Are momentum profits robust to trading costs? Journal of Finance, 59,1039–1082. Lesmond, D., Schill, M., and C. Zhou, 2004, The illusory nature of momentum profits, Journal of Financial Economics, 71, 349–380. Sadka Ronnie, 2006, Momentum and post-earnings-announcement drift anomalies: The role of liquidity risk, Journal of Financial Economics, 80, 309-349. (6) 可預期股價 (predictability) (16週) Ang A., and G. Bekaert, 2007, Stock return predictability: Is it there ? Review of Financial Studies, 20,651-707. Bhojraj, S., and B. Swaminathan, 2004, Macromomentum: Returns Predictability in International Equity Indices, Journal of Business, 79(1), 429–451. Cohen, R., P. Gompers, and T. Vuolteenaho, 2003, Who underreacts to cash-flow news? Evidence from trading between Individuals and Institutions, Journal of Financial Economics, 66, 409–462. Goyal, A., and I. Welch, 2003, Predicting the equity premium with dividend ratios. Management Science, 49, 639-654. Hanna, J. Douglas, and Mark J. Ready, 2005, Profitable predictability in the cross section of stock returns, Journal of Financial Economics, 78, 463–505 Hecht, Peter. And Tuomo Vuolteenaho, 2006, Explaining Returns with Cash-Flow Proxies, The Review of Financial Studies, 19,159-194. Lettau, Martin., and Sydney C. Ludvigson, 2005, Expected returns and expected dividend growth. Journal of Financial Economics,76,583–626. Lewellen, J., 2003, Predicting returns with financial ratios, Journal of Financial Economics, 74, 209–235. Menzly, L., Santos, T., and P. Veronesi, 2004, Understanding predictability, Journal of Political Economy, 112 (1), 1–47. (7) Currency risk (17週) Brennan, Michael J., and Yihong Xia, 2006, International capital markets and foreign exchange risk, Review of Financial Studies, 19, 753-795. Carrieri, Francesca, Vihang Errunza, and Basma Majerbi, 2006, Does emerging market exchange risk affect global equity prices? Journal of Financial and Quantitative Analysis, 41, 511-540. Kolari, james W., Ted C. Moorman, and Sorin M. Sorescu, 2008, Foreign exchange risk and the cross-section of stock returns, Journal of International Money and Finance, 27,1074-1097. (8) New development in asset pricing (18週) Grout, P. A. and A. Zalewska, 2006, The impact of regulation on market risk, Journal of Financial Economics, 80, 149-184. Jagannathan, R. and Y. Wang, 2007, Lazy investors, discretionary consumption, and the cross-section of stock returns, Journal of Finance, 62, 1623-1661. Lemmon, M., and E. Portniaguina, 2006, Consumer confidence and asset prices: Some empirical evidence, Review of Financial Studies, 19, 1499-1529. Larrain, B., and M. Yogo, 2008, Does firm value move too much to be justified by subsequent changes in cash flow? Journal of Financial Economics,87, 200-226. Yogo, Motohiro, 2005, A consumption-based explanation of the cross section of expected stock returns, Journal of Finance, 60, 539-580. Santa-Clara, P., and R. Valkanov, 2003, Political cycles and the stock market, Journal of Finance, 58, 1841-1872.
評分標準
本課程之評分項目包括期中考、期末考以及平常查考等三部分，其佔學期總成績比重分別為20%、20%及60%，總成績最高為100分，70分及格。 平常查考成績分為兩部分: (1)上課參與情形 (2) 學生的文獻報告與評論，其分別各佔平常查考成績的35%和65%。上課參與情形項目包括出席上課、課堂的教學回應與參與情形，上課表現良好和不佳的情形，每次加(或減) 上課參與情形之成績5分(即總分1.05分=35%*60%*5分)，上課參與情形的基本分數以80分計算 (即總分16.8分=35%*60%*80分)。基本上，第一次、第二次、第三次無故缺席扣上課參與情形的30%、35%、35%。若有超過三次以上之無故缺席，其每超過一次 (即第四次以後) 的無故缺席則另外加扣總學期成績7分。第一次、第二次、第三次無故遲到早退扣上課參與情形的8%、12%、15%。若有超過四次之無故遲到早退者，其每超過一次則另外加扣總學期成績2分。上課未帶課本者每次扣總成績2分。 若上課參與情形項目的總分已被扣完，但仍有缺曠課或上課表現不好等情事，則倒扣其他項目分數。即平常查考雖已被扣至零分，仍有缺曠課者將另外倒扣其他總分。例如，四次無故缺席者被扣總成績為28分 (=35%*60%*100+7分)，此時即使您的其他項目都得滿分，學期總成績亦只有72分 (=100分-28分)。請勿穿拖鞋上課。
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
8
112-2_期貨與選擇權
教學目標
本課程旨在培養學生具備「職場需求為導向的專業能力」、「創新思維與主動學習的能力」及「以科學方法解決問題的能力」，並期望達成「人文素養與專業學理兼備」及「具備當代思維與國際視野」的教學目標； 此外，本課程亦有助同學報考期貨營業員、理財規劃人員與財務分析師， 以下為本課程的細項目標: 1.瞭解期貨與選擇權商品。 2.探討期貨與選擇權之操作策略。 3.探討期貨與選擇權之定價模式。 4.對於期貨與選擇權市場之實務運作有進一步認識。 5.探討期貨與選擇權市場之相關實證研究。 6.探討期貨與選擇權商品在投資組合管理之應用。
授課形式
理論講述與討論-70.00%;個案分析或作品賞析-10.00%;專題實作與報告-20.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.第1週(2/20): Introduction to futures and options 2.第2週(2/27): Functioning of Futures and Option Markets 3.第3週(3/5): Hedging Strategies Using Futures 4.第4週(3/12): Trading Strategies Involving Options 5.第5週(3/19): Forward and SWAP 6.第6週(3/26): Warrants and CB 7.第7週(4/2): Exotic Options 8.第8週(4/9): Value at Risk 9.第9週(4/16): 期中考 10.第10週(4/23): Pricing for Futures Contracts 11.第11週(4/30): Pricing for Option Contracts 12.第12週(5/7): 台灣期貨市場交易實務 13.第13週(5/14): 台灣選擇權市場交易實務 14.第14週(5/21): Empirical Studies on Futures and Option Markets 15.第15週(5/28): Empirical Studies on Futures and Option Markets 16.第16週(6/4): Empirical Studies on Futures and Option Markets 17.第17週(6/11): 期末研讀報告 18.第18週(6/18): 期末研讀報告
教科書/參考書
1. John C. Hull, Futures, Options and Other Derivatives, Sixth Edition. 2. JF、JFE、RFS、JFQA等期刊內容中與授課主題有關的論文。 3. John C. Hull, 2017, Fundamentals of Futures and Options Markets, Ninth Edition.
評分標準
期中考 35% 期末研讀報告 35% 平常成績 30%
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
15
本課程旨在培養學生具備「職場需求為導向的專業能力」、「創新思維與主動學習的能力」及「以科學方法解決問題的能力」，並期望達成「人文素養與專業學理兼備」及「具備當代思維與國際視野」的教學目標； 此外，本課程亦有助同學報考期貨營業員、理財規劃人員與財務分析師， 以下為本課程的細項目標: 1.瞭解期貨與選擇權商品。 2.探討期貨與選擇權之操作策略。 3.探討期貨與選擇權之定價模式。 4.對於期貨與選擇權市場之實務運作有進一步認識。 5.探討期貨與選擇權市場之相關實證研究。 6.探討期貨與選擇權商品在投資組合管理之應用。
授課形式
理論講述與討論-70.00%;個案分析或作品賞析-10.00%;專題實作與報告-20.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.第1週(2/20): Introduction to futures and options 2.第2週(2/27): Functioning of Futures and Option Markets 3.第3週(3/5): Hedging Strategies Using Futures 4.第4週(3/12): Trading Strategies Involving Options 5.第5週(3/19): Forward and SWAP 6.第6週(3/26): Warrants and CB 7.第7週(4/2): Exotic Options 8.第8週(4/9): Value at Risk 9.第9週(4/16): 期中考 10.第10週(4/23): Pricing for Futures Contracts 11.第11週(4/30): Pricing for Option Contracts 12.第12週(5/7): 台灣期貨市場交易實務 13.第13週(5/14): 台灣選擇權市場交易實務 14.第14週(5/21): Empirical Studies on Futures and Option Markets 15.第15週(5/28): Empirical Studies on Futures and Option Markets 16.第16週(6/4): Empirical Studies on Futures and Option Markets 17.第17週(6/11): 期末研讀報告 18.第18週(6/18): 期末研讀報告
教科書/參考書
1. John C. Hull, Futures, Options and Other Derivatives, Sixth Edition. 2. JF、JFE、RFS、JFQA等期刊內容中與授課主題有關的論文。 3. John C. Hull, 2017, Fundamentals of Futures and Options Markets, Ninth Edition.
評分標準
期中考 35% 期末研讀報告 35% 平常成績 30%
學分數
3
授課時數(周)
3
開課班級
M11232
修課人數
15
112-2_財務專題研討(四)
教學目標
Students will learn from weekly (or bi-weekly) talk given by respected guest speakers from both academia and industry.
授課形式
理論講述與討論-0.00%;個案分析或作品賞析-0.00%;專題實作與報告-100.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
TBA (Information re. invited guest speakers will be announced during the 1st week of the school semester).
教科書/參考書
PPT handouts (Handouts will be distributed to class right before each talk).
評分標準
Major factors entering into grade determination will consist of: 1.) Class attendance and contribution to class discussion (50%); 2.) Participation in, and communication with respect to individual reports (50%).
學分數
2
授課時數(周)
2
開課班級
M11132
修課人數
16
Students will learn from weekly (or bi-weekly) talk given by respected guest speakers from both academia and industry.
授課形式
理論講述與討論-0.00%;個案分析或作品賞析-0.00%;專題實作與報告-100.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
TBA (Information re. invited guest speakers will be announced during the 1st week of the school semester).
教科書/參考書
PPT handouts (Handouts will be distributed to class right before each talk).
評分標準
Major factors entering into grade determination will consist of: 1.) Class attendance and contribution to class discussion (50%); 2.) Participation in, and communication with respect to individual reports (50%).
學分數
2
授課時數(周)
2
開課班級
M11132
修課人數
16
112-2_財務專題研討(二)
教學目標
本課程透過專題研討的方式讓同學瞭解不同財務領域的理論與實務發展現況.此外,本課程旨在培養學生具備「職場需求為導向的專業能力」、「創新思維與主動學習的能力」及「以科學方法解決問題的能力」,並期望達成「人文素養與專業學理兼備」及「具備當代思維與國際視野」的教學目標.
授課形式
理論講述與討論-30.00%;個案分析或作品賞析-20.00%;專題實作與報告-50.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.Seminar in Corporate Finance 2.Seminar in Investments 3.Seminar in Financial Markets and Institutions 4.Senminar in Behavioral Finance 5.Senminar in Market Microstructure 6.Seminar in Insurance and Real Estate
教科書/參考書
教師或演講者所準備之教材
評分標準
平常成積 80% 書面報告 20% 且另須滿足80%出席率的門檻
學分數
2
授課時數(周)
2
開課班級
M11232
修課人數
8
本課程透過專題研討的方式讓同學瞭解不同財務領域的理論與實務發展現況.此外,本課程旨在培養學生具備「職場需求為導向的專業能力」、「創新思維與主動學習的能力」及「以科學方法解決問題的能力」,並期望達成「人文素養與專業學理兼備」及「具備當代思維與國際視野」的教學目標.
授課形式
理論講述與討論-30.00%;個案分析或作品賞析-20.00%;專題實作與報告-50.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.Seminar in Corporate Finance 2.Seminar in Investments 3.Seminar in Financial Markets and Institutions 4.Senminar in Behavioral Finance 5.Senminar in Market Microstructure 6.Seminar in Insurance and Real Estate
教科書/參考書
教師或演講者所準備之教材
評分標準
平常成積 80% 書面報告 20% 且另須滿足80%出席率的門檻
學分數
2
授課時數(周)
2
開課班級
M11232
修課人數
8
112-2_校外實習（春）
教學目標
本課程旨在藉由金融機構實習來提升學生在職場的適應能力與競爭能力,並透過金融機構實習的機會, 讓學生模擬進入職場, 將所學的理論應用於實務工作.此外, 本課程也可以讓學生瞭解目前金融機構的運作及獲得最新的實務知識. 整體而言, 本課程培養學生具備「職場需求為導向的專業能力」、「創新思維與主動學習的能力」、「金融倫理與服務的能力」及「以科學方法解決問題的能力」,並期望達成「人文素養與專業學理兼備」及「具備當代思維與國際視野」的教學目標.
授課形式
理論講述與討論-15.00%;個案分析或作品賞析-15.00%;專題實作與報告-70.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
實習共計486小時
教科書/參考書
金融機構實習工作相關講義
評分標準
實習機構主管評分 50% 期末報告 50%
學分數
9
授課時數(周)
3
開課班級
A10932
修課人數
2
本課程旨在藉由金融機構實習來提升學生在職場的適應能力與競爭能力,並透過金融機構實習的機會, 讓學生模擬進入職場, 將所學的理論應用於實務工作.此外, 本課程也可以讓學生瞭解目前金融機構的運作及獲得最新的實務知識. 整體而言, 本課程培養學生具備「職場需求為導向的專業能力」、「創新思維與主動學習的能力」、「金融倫理與服務的能力」及「以科學方法解決問題的能力」,並期望達成「人文素養與專業學理兼備」及「具備當代思維與國際視野」的教學目標.
授課形式
理論講述與討論-15.00%;個案分析或作品賞析-15.00%;專題實作與報告-70.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
實習共計486小時
教科書/參考書
金融機構實習工作相關講義
評分標準
實習機構主管評分 50% 期末報告 50%
學分數
9
授課時數(周)
3
開課班級
A10932
修課人數
2
112-2_財務軟體應用
教學目標
This course aims to extend the theory and practice of financial management, emphasizing computer-based modeling. It is to study and build appropriate computer-based models for analyzing various decision problems facing today’s financial managers and professionals. Upon completing the course, you should have acquired a working knowledge of the computer spreadsheet, a basic understanding of several of the most commonly used modeling techniques, and an understanding of big data analysis and its limitations. Preparation and execution of spreadsheets and Excel VBA for analyzing financial decisions with various modeling techniques.
授課形式
理論講述與討論-30.00%;個案分析或作品賞析-30.00%;專題實作與報告-40.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
教科書/參考書
最新Excel VBA基礎必修課：程式設計、專題與數據應用的最佳訓練教材(適用Excel 2021~2013)，碁峰資訊股份有限公司出版，蔡文龍、張志成編著，書號：AEI007300，出版日： 2022/03，ISBN：9786263241039。
評分標準
學分數
3
授課時數(周)
3
開課班級
A10932
修課人數
28
This course aims to extend the theory and practice of financial management, emphasizing computer-based modeling. It is to study and build appropriate computer-based models for analyzing various decision problems facing today’s financial managers and professionals. Upon completing the course, you should have acquired a working knowledge of the computer spreadsheet, a basic understanding of several of the most commonly used modeling techniques, and an understanding of big data analysis and its limitations. Preparation and execution of spreadsheets and Excel VBA for analyzing financial decisions with various modeling techniques.
授課形式
理論講述與討論-30.00%;個案分析或作品賞析-30.00%;專題實作與報告-40.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Course Outline:
|
Week |
Date |
Topic |
Required Reading |
|
1 |
02/19 - 02/23 |
Excel VBA 基本概念 |
第1章 |
|
2 |
02/26 - 03/01 |
第一個 Excel VBA 程式 |
第2章 |
|
3 |
03/04 - 03/08 |
敘述組成要素 |
第3章 |
|
4 |
03/11 - 03/15 |
流程控制(一) - 選擇結構 |
第4章 |
|
5 |
03/18 - 03/22 |
流程控制(二) - 重複結構 |
第5章 |
|
6 |
03/25 - 03/29 |
陣列的運用 |
第6章 |
|
7 |
04/01 - 04/05 |
副程式 |
第7章 |
|
8 |
04/08 - 04/12 |
物件簡介與 Application 物件 |
第8章 |
|
9 |
04/15 - 04/19 |
Excel VBA 常用物件介紹 |
第9章 |
|
10 |
04/22 - 04/26 |
Range 物件介紹 |
第10章 |
|
11 |
04/29 - 05/03 |
自訂表單與控制項(一) |
第11章 |
|
12 |
05/06 - 05/10 |
自訂表單與控制項(二) |
第12章 |
|
13 |
05/13 - 05/17 |
工作表與 Active 控制項 |
第13章 |
|
14 |
05/20 - 05/24 |
圖表 Chart 物件介紹 |
第14章 |
|
15 |
05/27 - 05/31 |
專題製作 |
第15章 |
|
16 |
06/03 - 06/07 |
樞紐分析表物件 |
第16章 |
|
17 |
06/10 - 06/14 |
端午節放假 |
|
|
18 |
06/17 - 06/21 |
Final Project Due 06/17/2024 |
|
** The above is a tentative course schedule. Hopefully, we will get through all the listed topics.
教科書/參考書
最新Excel VBA基礎必修課：程式設計、專題與數據應用的最佳訓練教材(適用Excel 2021~2013)，碁峰資訊股份有限公司出版，蔡文龍、張志成編著，書號：AEI007300，出版日： 2022/03，ISBN：9786263241039。
評分標準
Course Evaluation Process:
Grading:
Your final grade will be based on your performance on a midterm exam, a comprehensive final exam to be given during final exam week, and several quizzes taken in class.
Participation and attendance 20%
In-class assignments 50%
Final Project 30%
All grading is done on a percentage basis.
Class participation and attendance are important and can favorably affect your grade. Minimum acceptable participation is regular attendance and completion of the specific assignments. Selected problems will be assigned at every class time. Students will be asked to solve the assigned problems in class. The performance of the assignments is the grade of your in-class assignment, which is 40% of your semester final grade. You are expected to participate in the discussion in class, which counts 30% of your final grade.
Attendance Policy: Students are required to attend the class. Students are fully responsible for being in the class. If there is any excusable reason, you must notify me of the absence in advance. The participation score is calculated by the percentage of all classes held this semester. Your grade of participation will be based on your performance on attendance in class. You earn 2 points when you are present at class for the roll call. You get 1.5 points when you show up late after the roll call. You have 1 point when you are permitted to take a leave. You have no points when you miss the class. Therefore, the class participation score equals the sum of all points divided by 2N points (2 points * N weeks) and time 100.
In-class Assignments: Almost every class will assign one or two assignments. The due time for the assignment is announced in class. Each assignment accounts for 10 points. The grade for the in-class assignment is each grade earned for the assignment times the total number of assignments divided by 10 times the number of assignments and times 10%. No late assignment is permitted.
Final Project: The final project accounts for 30% of the semester grade. All students must present and submit a VBA project related to the finance models on the due date of the final project. The student needs to present the initiated idea and the designed structure of the coding for the final project in the last class. Presentation accounts for 50% of the final project grade. The submission of the final project through uploading the Excel file to elearningv4 accounts for 50% of the final project grade. The absence of the last class will deduct your participation grade and the final project grade. If the student is absent for the last class without presenting the project, your final project grade is 60% of the grade that the student earned for the final project.
Academic Dishonesty: Copying assignments is considered cheating.
Important dates
Final Project Due: 11:55 PM, Monday, June 17th, 2024
Important note: There is no makeup project. If you miss an exam for an excused reason, you must contact me before the due date in order to be excused. There are no exceptions to this rule. I will determine excusable absences.
Reference:
- Chandan Sengupta, Financial Modeling Using Excel and VBA, John Wiley & Sons, 2004, ISBN: 0-471-26768-6 新月代理。
- Simon Benninga, Financial Modeling, MIT Press, 1997, ISBN: 0262024373
- Mary Jackson and Mike Staunton, Advanced Modelling in Finance Using Excel and VBA, John Wiley and Sons Ltd, 2001, ISBN: 0471499226
- 沈中華與李建然，民89年，事件研究法 財務與會計實證研究必備，華泰文化事業公司，ISBN: 957-609-278-7
- Richard Brealey and Stewart Myers, Principles of Corporate Finance. 7e, McGraw-Hill Irwin, 2003,ISBN:0072869461
- Stephen Ross, Randolph Westerfield, annd Bradford Jordan, Fundamentals of Corporate Finance, 6e. McGraw-Hill Irwin, 2003, ISBN:0071151028。
- 張大成，2009年，財務軟體應用:Excel VBA入門與在財務工程的應用，雙葉書廊，ISBN:978-986-6672-46-0。
- 洪錦魁，2021年，Excel VBA最強入門邁向辦公室自動化之路王者歸來上冊、下冊，深智數位，上冊ISBN：9789860776102、下冊ISBN：9789860776119。
国本温子, 緑川吉行, 編集部，2023年，Excel VBA 範例字典：自動化處理不求人上冊 、下冊，旗標，上冊ISBN：9789863127222、下冊ISBN：9789863127420。
學分數
3
授課時數(周)
3
開課班級
A10932
修課人數
28
112-2_保險學
教學目標
-------------------------------------------------------------------------------------- 視訊平台: Microsoft Teams URL: https://teams.microsoft.com/l/team/19%3arpUmqtvM3DX8yH0NY1TTzwFwp7S50i4Tt3tqyn6F2Ck1%40thread.tacv2/conversations?groupId=3c592d96-bf2d-455c-9719-8021b84de1a9&tenantId=5a484953-77ef-42ec-90cf-2f4e1037ffc7 -------------------------------------------------------------------------------------- This course focuses primarily on the consumers of insurance, and blends basic risk management and insurance principles with consumer consideration. An overview of the insurance industry is given first, before discussing specific insurance plans.
授課形式
理論講述與討論-70.00%;個案分析或作品賞析-10.00%;專題實作與報告-20.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Class Topic Reading Assignment 1. Course introduction Not applicable 2. Types of insurers Chapter 5 3. Insurance company operations Chapter 6 4. Financial operations of insurers Chapter 7 5. Government regulation of insurance Chapter 8 6. Fundamental legal principles Chapter 9 7. Analysis of insurance contracts Chapter 10 8. Life insurance Chapter 11 9. Midterm exam Not applicable 10. Life insurance contractual provisions Chapter 12 11. Buying life insurance Chapter 13 12. Annuities and IRA Chapter 14 13. Health insurance Chapter 15 14. Social insurance Chapter 18 15. The liability risk Chapter 19 16. Auto insurance Chapter 22 17. Auto insurance and society Chapter 23 18. Final exam Not applicable
教科書/參考書
1.) George Rejda, “Principles of Risk Management and Insurance”, 2011, Prentice Hall; 2.) The Wall Street Journal; 3.) Handouts and case studies, as directed.
評分標準
Major factors entering into grade determination will consist of: 1.) Class attendance and contribution to class discussion (10%); 2.) Participation in, and communication with respect to group/individual project (20%); 3.) The following testing parameters: midterm examination (20%); comprehensive final examination (40%); 4.) Quizzes and homework assignments (10%).
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
41
-------------------------------------------------------------------------------------- 視訊平台: Microsoft Teams URL: https://teams.microsoft.com/l/team/19%3arpUmqtvM3DX8yH0NY1TTzwFwp7S50i4Tt3tqyn6F2Ck1%40thread.tacv2/conversations?groupId=3c592d96-bf2d-455c-9719-8021b84de1a9&tenantId=5a484953-77ef-42ec-90cf-2f4e1037ffc7 -------------------------------------------------------------------------------------- This course focuses primarily on the consumers of insurance, and blends basic risk management and insurance principles with consumer consideration. An overview of the insurance industry is given first, before discussing specific insurance plans.
授課形式
理論講述與討論-70.00%;個案分析或作品賞析-10.00%;專題實作與報告-20.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Class Topic Reading Assignment 1. Course introduction Not applicable 2. Types of insurers Chapter 5 3. Insurance company operations Chapter 6 4. Financial operations of insurers Chapter 7 5. Government regulation of insurance Chapter 8 6. Fundamental legal principles Chapter 9 7. Analysis of insurance contracts Chapter 10 8. Life insurance Chapter 11 9. Midterm exam Not applicable 10. Life insurance contractual provisions Chapter 12 11. Buying life insurance Chapter 13 12. Annuities and IRA Chapter 14 13. Health insurance Chapter 15 14. Social insurance Chapter 18 15. The liability risk Chapter 19 16. Auto insurance Chapter 22 17. Auto insurance and society Chapter 23 18. Final exam Not applicable
教科書/參考書
1.) George Rejda, “Principles of Risk Management and Insurance”, 2011, Prentice Hall; 2.) The Wall Street Journal; 3.) Handouts and case studies, as directed.
評分標準
Major factors entering into grade determination will consist of: 1.) Class attendance and contribution to class discussion (10%); 2.) Participation in, and communication with respect to group/individual project (20%); 3.) The following testing parameters: midterm examination (20%); comprehensive final examination (40%); 4.) Quizzes and homework assignments (10%).
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
41
112-2_總體經濟學
教學目標
本課程將深入淺出地解說各個學派的總體經濟理論，幫助同學們建構脈絡一貫的總體經濟觀念。本學期課程將涵蓋古典學派理論，凱因斯理論(包含簡單凱因斯、延伸凱因斯、完整凱因斯，以及新興凱恩斯)，通貨膨脹與失業，經濟成長，貨幣供給與需求理論。若時間允許將適時補充其他理論。本課程主要目的在使學生掌握當代總體理論的基本架構、熟練經濟分析的思考模式、並進而評估財政政策與貨幣政策的效果。
授課形式
理論講述與討論-90.00%;個案分析或作品賞析-0.00%;專題實作與報告-10.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
第01章 緒論 第02章 國民所得帳 第03章 古典學派 第04章 簡單的凱恩斯模型 第05章 延伸的凱恩斯模型 第06章 完整的凱恩斯模型 第08章 開放經濟的總體模型 (將視進度取捨) 第12章 新興凱恩斯模型 第13章 通貨膨脹與失業 第14章 中央銀行的穩定政策 (將視進度取捨) 第16章 經濟成長 第18章 貨幣需求 第19章 貨幣供給
教科書/參考書
總體經濟學 作者： 賴景昌 出版社：雙葉書廊
評分標準
出席: 10% 期中考: 35% 期末考: 35% 小考: 20%
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
61
本課程將深入淺出地解說各個學派的總體經濟理論，幫助同學們建構脈絡一貫的總體經濟觀念。本學期課程將涵蓋古典學派理論，凱因斯理論(包含簡單凱因斯、延伸凱因斯、完整凱因斯，以及新興凱恩斯)，通貨膨脹與失業，經濟成長，貨幣供給與需求理論。若時間允許將適時補充其他理論。本課程主要目的在使學生掌握當代總體理論的基本架構、熟練經濟分析的思考模式、並進而評估財政政策與貨幣政策的效果。
授課形式
理論講述與討論-90.00%;個案分析或作品賞析-0.00%;專題實作與報告-10.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
第01章 緒論 第02章 國民所得帳 第03章 古典學派 第04章 簡單的凱恩斯模型 第05章 延伸的凱恩斯模型 第06章 完整的凱恩斯模型 第08章 開放經濟的總體模型 (將視進度取捨) 第12章 新興凱恩斯模型 第13章 通貨膨脹與失業 第14章 中央銀行的穩定政策 (將視進度取捨) 第16章 經濟成長 第18章 貨幣需求 第19章 貨幣供給
教科書/參考書
總體經濟學 作者： 賴景昌 出版社：雙葉書廊
評分標準
出席: 10% 期中考: 35% 期末考: 35% 小考: 20%
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
61
112-2_財務報表分析
教學目標
本課程將教導學生如何掌握財務報表數字的內涵，以及財務報表分析技巧，學生在學習本課程之後，將了解如何透過財務報告書評估企業之償債能力、財務結構、獲利能力、經營能力與成長性。
授課形式
理論講述與討論-50.00%;個案分析或作品賞析-30.00%;專題實作與報告-20.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
介紹合併財務報告書 (含主要財務報表與附註)暨會計師查核報告
介紹財務報表分析之方法
企業之短期償債能力分析、財務結構與長期償債能力分析、獲利能力分析、經營能力分析、成長力分析與風險分析
教科書/參考書
教科書：
財務報表分析 Financial Statement Analysis（IFRS）
作者：杜榮瑞、薛富井、蔡彥卿、劉啟群
ISBN：9789865522032
版次：2
出版日期：2020/07/30
出版商：東華書局
評分標準
出席與課堂表現 ........10%
期末考 ................45%
分組報告 ..............45%
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
40
本課程將教導學生如何掌握財務報表數字的內涵，以及財務報表分析技巧，學生在學習本課程之後，將了解如何透過財務報告書評估企業之償債能力、財務結構、獲利能力、經營能力與成長性。
授課形式
理論講述與討論-50.00%;個案分析或作品賞析-30.00%;專題實作與報告-20.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
介紹合併財務報告書 (含主要財務報表與附註)暨會計師查核報告
介紹財務報表分析之方法
企業之短期償債能力分析、財務結構與長期償債能力分析、獲利能力分析、經營能力分析、成長力分析與風險分析
教科書/參考書
教科書：
財務報表分析 Financial Statement Analysis（IFRS）
作者：杜榮瑞、薛富井、蔡彥卿、劉啟群
ISBN：9789865522032
版次：2
出版日期：2020/07/30
出版商：東華書局
評分標準
出席與課堂表現 ........10%
期末考 ................45%
分組報告 ..............45%
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
40
112-2_基金投資與管理
教學目標
本課程的主要目標在於讓學生了解投資組合的概念，以及投資組合的管理流程，同時也說明基金公司如何管理其基金，包括股票投資組合的管理與債券投資組合的管理，最後則讓同學了解如何評估基金投資績效的好壞。 課程的設計除了專業證券投資的講授之外也包括學生投資組合管理的競賽以及分析師研究報告的撰寫。首先，老師的課堂講授在於培養學生職場上所需的專業能力以及全球證券市場的了解。其次，投資組合競賽，則讓學生必須每週藉由網路以及財經資料庫了解最新的市場動態以調整其投資組合，這樣的訓練有助於學生提升其資訊運用的能力、拓展國際的金融視野以及以科學方法解決問題的能力。期末的分析師報告則有助於培養學生整合理論與實務進而達成創新學習的能力。
授課形式
理論講述與討論-60.00%;個案分析或作品賞析-0.00%;專題實作與報告-40.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
課程內容與進度 1- 3週 Introduction Active Bond Management Passive Bond Management 4-6週 History of Interest Rate Macroeconomic and Industry Analysis Optimal risky portfolios 7-9週 Measuring Investment Return Portfolio Performance Evaluation Mid-term exam 10-12週 International Diversification Arbitrage Pricing Theory Multifactor Model 13-15週 Behavioral Finance 16-18週 期末選股報告 Final exam
教科書/參考書
Investments, McGRAW-HiLL, by Bodie、Kane、Marcus 勝券在握 彼特林區選股戰略
評分標準
評分標準 1. 期中考 20﹪ 2. 期末考 20﹪ 3. 期中報告與基金投資管理競賽 60﹪
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
22
本課程的主要目標在於讓學生了解投資組合的概念，以及投資組合的管理流程，同時也說明基金公司如何管理其基金，包括股票投資組合的管理與債券投資組合的管理，最後則讓同學了解如何評估基金投資績效的好壞。 課程的設計除了專業證券投資的講授之外也包括學生投資組合管理的競賽以及分析師研究報告的撰寫。首先，老師的課堂講授在於培養學生職場上所需的專業能力以及全球證券市場的了解。其次，投資組合競賽，則讓學生必須每週藉由網路以及財經資料庫了解最新的市場動態以調整其投資組合，這樣的訓練有助於學生提升其資訊運用的能力、拓展國際的金融視野以及以科學方法解決問題的能力。期末的分析師報告則有助於培養學生整合理論與實務進而達成創新學習的能力。
授課形式
理論講述與討論-60.00%;個案分析或作品賞析-0.00%;專題實作與報告-40.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
課程內容與進度 1- 3週 Introduction Active Bond Management Passive Bond Management 4-6週 History of Interest Rate Macroeconomic and Industry Analysis Optimal risky portfolios 7-9週 Measuring Investment Return Portfolio Performance Evaluation Mid-term exam 10-12週 International Diversification Arbitrage Pricing Theory Multifactor Model 13-15週 Behavioral Finance 16-18週 期末選股報告 Final exam
教科書/參考書
Investments, McGRAW-HiLL, by Bodie、Kane、Marcus 勝券在握 彼特林區選股戰略
評分標準
評分標準 1. 期中考 20﹪ 2. 期末考 20﹪ 3. 期中報告與基金投資管理競賽 60﹪
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
22
112-2_投資組合管理
教學目標
本課程旨在加強同學對於各項投資專題的獨立分析與研究能力（如投資人心理分析與市場反應、企業與個人投資理財、新金融商品投資等），藉由各項投資管理專題的研究與分析，培養同學的獨立作業能力，強化同學的財金專業知識。 本課程希望培養學生具備「職場需求為導向的專業能力」、「創新思維與主動學習的能力」及「以科學方法解決問題的能力」，並期望達成「人文素養與專業學理兼備」及「具備當代思維與國際視野」的教學目標。此外，本課程亦有助同學報考證券營業員、理財規劃人員與財務分析師。
授課形式
理論講述與討論-60.00%;個案分析或作品賞析-20.00%;專題實作與報告-20.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.第1週(2/20): 投資組合管理導論* 2.第2週(2/27): 投資組合理論的基礎* 3.第3週(3/5): 投資簡史 4.第4週(3/12): 哈利．馬可維茲與投資組合選擇 5.第5週(3/19): 威廉．夏普與資本資產定價模型 6.第6週(3/26): 尤金．法馬與效率市場 7.第7週(4/2): 約翰．柏格與先鋒投資組合 8.第8週(4/9): 技術分析* 9.第9週(4/16): 期中考 10.第10週(4/23): 邁倫．修爾斯與布萊克－修爾斯／默頓選擇權定價模型 11.第11週(4/30): 羅伯特．默頓，從衍生性商品到退休規劃 12.第12週(5/7): 馬丁．萊柏維茲，從債券大師到投資策略專家 13.第13週(5/14): 羅伯．席勒與非理性繁榮 14.第14週(5/21): 查爾斯．艾利斯，在輸家的遊戲中勝出 15.第15週(5/28): 傑諾米．席格爾，華頓商學院的奇才 16.第16週(6/4): 投資策略* 17.第17週(6/11): 行為投資* 18.第18週: 期末考
教科書/參考書
教科書: 作者： 羅聞全, 史蒂芬．佛斯特 譯者： 吳書榆 出版日期：2022/09/06 完美投資組合：親訪10位投資界傳奇的長勝策略 In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest 時報出版社 參考書: Robert A. Strong, Portfolio Construction, Management, & Protection. Robert A. Strong, Practical Investment Management. P. L. Berstein and A. Damodaran, Investment Management. Donald E. Fischer and Ronald J. Jordan, Security Analysis and Portfolio Management.
評分標準
平常成績30%, 學期報告70%.
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
52
本課程旨在加強同學對於各項投資專題的獨立分析與研究能力（如投資人心理分析與市場反應、企業與個人投資理財、新金融商品投資等），藉由各項投資管理專題的研究與分析，培養同學的獨立作業能力，強化同學的財金專業知識。 本課程希望培養學生具備「職場需求為導向的專業能力」、「創新思維與主動學習的能力」及「以科學方法解決問題的能力」，並期望達成「人文素養與專業學理兼備」及「具備當代思維與國際視野」的教學目標。此外，本課程亦有助同學報考證券營業員、理財規劃人員與財務分析師。
授課形式
理論講述與討論-60.00%;個案分析或作品賞析-20.00%;專題實作與報告-20.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.第1週(2/20): 投資組合管理導論* 2.第2週(2/27): 投資組合理論的基礎* 3.第3週(3/5): 投資簡史 4.第4週(3/12): 哈利．馬可維茲與投資組合選擇 5.第5週(3/19): 威廉．夏普與資本資產定價模型 6.第6週(3/26): 尤金．法馬與效率市場 7.第7週(4/2): 約翰．柏格與先鋒投資組合 8.第8週(4/9): 技術分析* 9.第9週(4/16): 期中考 10.第10週(4/23): 邁倫．修爾斯與布萊克－修爾斯／默頓選擇權定價模型 11.第11週(4/30): 羅伯特．默頓，從衍生性商品到退休規劃 12.第12週(5/7): 馬丁．萊柏維茲，從債券大師到投資策略專家 13.第13週(5/14): 羅伯．席勒與非理性繁榮 14.第14週(5/21): 查爾斯．艾利斯，在輸家的遊戲中勝出 15.第15週(5/28): 傑諾米．席格爾，華頓商學院的奇才 16.第16週(6/4): 投資策略* 17.第17週(6/11): 行為投資* 18.第18週: 期末考
教科書/參考書
教科書: 作者： 羅聞全, 史蒂芬．佛斯特 譯者： 吳書榆 出版日期：2022/09/06 完美投資組合：親訪10位投資界傳奇的長勝策略 In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest 時報出版社 參考書: Robert A. Strong, Portfolio Construction, Management, & Protection. Robert A. Strong, Practical Investment Management. P. L. Berstein and A. Damodaran, Investment Management. Donald E. Fischer and Ronald J. Jordan, Security Analysis and Portfolio Management.
評分標準
平常成績30%, 學期報告70%.
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
52
112-2_國際財務管理
教學目標
COURSE DESCRIPTION An examination of the international financial management environment with an emphasis on exchange rate behavior, risk management, and asset management from a global perspective. COURSE OBJECTIVES 1. To study the international financial environment including the international flow of funds, international financial markets, and exchange rate determination. 2. To understand exchange rate behavior including government influence, interest rate parity and arbitrage. 3. To apply risk management techniques as they relate to managing transaction exposure. 4. To develop specific financial skills relating to long-term asset and liability management from a multinational corporation perspective.
授課形式
理論講述與討論-70.00%;個案分析或作品賞析-20.00%;專題實作與報告-10.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
A. 外匯市場與匯率風險管理 1. 外匯市場與匯率 2. 匯率的決定與預測 3. 匯率衍生性金融商品 4. 交易風險管理 5. 經濟風險管理 6. 換算風險管理 B. 國際投資決策 1. 海外直接投資與併購策略 2. 國際資本預算 3. 國家風險分析與跨國租稅規劃 C. 國際融資決策 1. 國際金融市場 2. 國際資金成本與資本結構 3. 跨國企業籌資管道
教科書/參考書
1. 國際財務管理 (14版) Madura/International Financial Management 14e 作者： Jeff Madura ISBN-13: 978-981-49-1500-7 2. 課程講義 3. Case study (need extra payment)
評分標準
Attendance: 10% Mid-term: 35% Final exam: 40% Case discussion: 15% Attention: Exams/Quizzes: You will NOT be allowed any extra credit projects, etc. to compensate for a poor average. Everyone must be given the same opportunity to do well in this class. Individual exams WILL NOT be supplied; however, I may use attendance and class participation to make adjustments at the end of the semester.
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
52
COURSE DESCRIPTION An examination of the international financial management environment with an emphasis on exchange rate behavior, risk management, and asset management from a global perspective. COURSE OBJECTIVES 1. To study the international financial environment including the international flow of funds, international financial markets, and exchange rate determination. 2. To understand exchange rate behavior including government influence, interest rate parity and arbitrage. 3. To apply risk management techniques as they relate to managing transaction exposure. 4. To develop specific financial skills relating to long-term asset and liability management from a multinational corporation perspective.
授課形式
理論講述與討論-70.00%;個案分析或作品賞析-20.00%;專題實作與報告-10.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
A. 外匯市場與匯率風險管理 1. 外匯市場與匯率 2. 匯率的決定與預測 3. 匯率衍生性金融商品 4. 交易風險管理 5. 經濟風險管理 6. 換算風險管理 B. 國際投資決策 1. 海外直接投資與併購策略 2. 國際資本預算 3. 國家風險分析與跨國租稅規劃 C. 國際融資決策 1. 國際金融市場 2. 國際資金成本與資本結構 3. 跨國企業籌資管道
教科書/參考書
1. 國際財務管理 (14版) Madura/International Financial Management 14e 作者： Jeff Madura ISBN-13: 978-981-49-1500-7 2. 課程講義 3. Case study (need extra payment)
評分標準
Attendance: 10% Mid-term: 35% Final exam: 40% Case discussion: 15% Attention: Exams/Quizzes: You will NOT be allowed any extra credit projects, etc. to compensate for a poor average. Everyone must be given the same opportunity to do well in this class. Individual exams WILL NOT be supplied; however, I may use attendance and class participation to make adjustments at the end of the semester.
學分數
3
授課時數(周)
3
開課班級
A11032
修課人數
52
112-2_投資與財務規劃
教學目標
-------------------------------------------------------------------------------------- 視訊平台: Microsoft Teams URL: https://teams.microsoft.com/l/team/19%3arpUmqtvM3DX8yH0NY1TTzwFwp7S50i4Tt3tqyn6F2Ck1%40thread.tacv2/conversations?groupId=3c592d96-bf2d-455c-9719-8021b84de1a9&tenantId=5a484953-77ef-42ec-90cf-2f4e1037ffc7 -------------------------------------------------------------------------------------- The development of a working knowledge of basic tools that will guide the student in the acquisition of sound financial planning discipline using MS-EXCEL, including: 1.) A working knowledge of the impact of compounding on investment returns, as well as other applications where time value of money principles play a key role; 2.) An analysis of various investment alternatives and vehicles, and risks typically associated therewith; 3.) An analysis of mechanisms useful for the protection of wealth through the use of insurance and other risk management and risk transfer techniques; 4.) The obtaining of a comfort level with information presented in financial periodicals, especially as relates to current events taking place during the semester; 5.) The professional presentation of the results of financial planning research and recommendations regarding alternatives.
授課形式
理論講述與討論-60.00%;個案分析或作品賞析-10.00%;專題實作與報告-30.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.) Course introduction 2.) Financial planning (Chapter 1) 3.) Financial planning (Chapter 1, cont'd) 4.) The time value of money (Chapter 2) 5.) The time value of money (Chapter 2, cont'd) 6.) Financial statements and budgets (Chapter 3) 7.) Financial statements and budgets (Chapter 3, cont'd) 8.) Taxes (Chapter 4) 9.) Midterm exam 10.) Financial markets and institutions (Chapter 9) 11.) Investment basics (Chapter 10) 12.) Investment basics (Chapter 10, cont'd) 13.) Stocks and bonds (Chapter 11) 14.) Stocks and bonds (Chapter 11, cont'd) 15.) Mutual funds and other pooling arrangements (Chapter 12) 16.) Case presentations 17.) Case presentations (cont'd) 18.) Final exam
教科書/參考書
1.) "Personal Finance: An Integrated Planning Approach" (8th edition), by Ralph R. Frasca. Prentice Hall/Pearson, 2009; 2.) The Wall Street Journal; 3.) Articles @ NBER/CEPR/SSRN/IDEAS; 4.) Handouts and case studies,as directed.
評分標準
Major factors entering into grade determination will consist of: 1.) Class attendance and contribution to class discussion (10%); 2.) Participation in, and communication with respect to group PYTHON project (30%); 3.) The following testing parameters: midterm exam (20%), and comprehensive final exam (40%); * NO extra credit allowed.
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
35
-------------------------------------------------------------------------------------- 視訊平台: Microsoft Teams URL: https://teams.microsoft.com/l/team/19%3arpUmqtvM3DX8yH0NY1TTzwFwp7S50i4Tt3tqyn6F2Ck1%40thread.tacv2/conversations?groupId=3c592d96-bf2d-455c-9719-8021b84de1a9&tenantId=5a484953-77ef-42ec-90cf-2f4e1037ffc7 -------------------------------------------------------------------------------------- The development of a working knowledge of basic tools that will guide the student in the acquisition of sound financial planning discipline using MS-EXCEL, including: 1.) A working knowledge of the impact of compounding on investment returns, as well as other applications where time value of money principles play a key role; 2.) An analysis of various investment alternatives and vehicles, and risks typically associated therewith; 3.) An analysis of mechanisms useful for the protection of wealth through the use of insurance and other risk management and risk transfer techniques; 4.) The obtaining of a comfort level with information presented in financial periodicals, especially as relates to current events taking place during the semester; 5.) The professional presentation of the results of financial planning research and recommendations regarding alternatives.
授課形式
理論講述與討論-60.00%;個案分析或作品賞析-10.00%;專題實作與報告-30.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
1.) Course introduction 2.) Financial planning (Chapter 1) 3.) Financial planning (Chapter 1, cont'd) 4.) The time value of money (Chapter 2) 5.) The time value of money (Chapter 2, cont'd) 6.) Financial statements and budgets (Chapter 3) 7.) Financial statements and budgets (Chapter 3, cont'd) 8.) Taxes (Chapter 4) 9.) Midterm exam 10.) Financial markets and institutions (Chapter 9) 11.) Investment basics (Chapter 10) 12.) Investment basics (Chapter 10, cont'd) 13.) Stocks and bonds (Chapter 11) 14.) Stocks and bonds (Chapter 11, cont'd) 15.) Mutual funds and other pooling arrangements (Chapter 12) 16.) Case presentations 17.) Case presentations (cont'd) 18.) Final exam
教科書/參考書
1.) "Personal Finance: An Integrated Planning Approach" (8th edition), by Ralph R. Frasca. Prentice Hall/Pearson, 2009; 2.) The Wall Street Journal; 3.) Articles @ NBER/CEPR/SSRN/IDEAS; 4.) Handouts and case studies,as directed.
評分標準
Major factors entering into grade determination will consist of: 1.) Class attendance and contribution to class discussion (10%); 2.) Participation in, and communication with respect to group PYTHON project (30%); 3.) The following testing parameters: midterm exam (20%), and comprehensive final exam (40%); * NO extra credit allowed.
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
35
112-2_個體經濟學(二)
教學目標
Microeconomics at the second semester introduces producer theory and game theory. As you work through this course, you will learn microeconomics theory in a systematic way. Working problems is very important when you learn economics. Therefore, you have homework every week and a 50-minute quiz on 3/11, 4/8, 5/6, and 5/27. The questions in the quizzes are randomly selected from homework.
授課形式
理論講述與討論-80.00%;個案分析或作品賞析-10.00%;專題實作與報告-10.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Date Topics 2/19 Ch. 6 2/26 Ch. 6 3/4 Ch. 7 3/11 Ch. 7 (Quiz 1) 3/18 Ch. 8 3/25 Ch. 8 4/1 Ch. 9 4/8 Ch. 9 (Quiz 2) 4/15 Midterm Exam 4/22 Ch. 11 4/29 Ch. 11 5/6 Ch. 12 (Quiz 3) 5/13 Ch. 12 5/20 Ch. 13 5/27 Ch. 14 (Quiz 4) 6/3 Final Exam 6/10 Holiday 6/17 Review
教科書/參考書
Textbook Microeconomics, 6th edition, by Besanko D. and Braeutigam R. (required) Reference 個體經濟理論與應用 (下冊), 2000, 張守鈞 (全英) (strongly recommend) 個體經濟學：理論與應用, 2013,陳正倉、林惠玲 (雙葉)(recommend) Intermediate Microeconomics 9th edition, by Hal R. Varian. (strongly recommend) Lecture notes, homework solutions, and related reference are available on Moodle 4.0.
評分標準
Grading Quiz: 30%, Midterm Exam: 35%, Final Exam: 35%. There are 4 quizzes in this semester. The students are not allowed to make up the missed quiz, midterm and final exams. 注意: 1. 在任何考試當中，有發生作弊情形，本科學期總成績予以零分計算。 2. 每位同學的成績均依照上述比例計算，學期總成績不予以做個別調整。
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
42
Microeconomics at the second semester introduces producer theory and game theory. As you work through this course, you will learn microeconomics theory in a systematic way. Working problems is very important when you learn economics. Therefore, you have homework every week and a 50-minute quiz on 3/11, 4/8, 5/6, and 5/27. The questions in the quizzes are randomly selected from homework.
授課形式
理論講述與討論-80.00%;個案分析或作品賞析-10.00%;專題實作與報告-10.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Date Topics 2/19 Ch. 6 2/26 Ch. 6 3/4 Ch. 7 3/11 Ch. 7 (Quiz 1) 3/18 Ch. 8 3/25 Ch. 8 4/1 Ch. 9 4/8 Ch. 9 (Quiz 2) 4/15 Midterm Exam 4/22 Ch. 11 4/29 Ch. 11 5/6 Ch. 12 (Quiz 3) 5/13 Ch. 12 5/20 Ch. 13 5/27 Ch. 14 (Quiz 4) 6/3 Final Exam 6/10 Holiday 6/17 Review
教科書/參考書
Textbook Microeconomics, 6th edition, by Besanko D. and Braeutigam R. (required) Reference 個體經濟理論與應用 (下冊), 2000, 張守鈞 (全英) (strongly recommend) 個體經濟學：理論與應用, 2013,陳正倉、林惠玲 (雙葉)(recommend) Intermediate Microeconomics 9th edition, by Hal R. Varian. (strongly recommend) Lecture notes, homework solutions, and related reference are available on Moodle 4.0.
評分標準
Grading Quiz: 30%, Midterm Exam: 35%, Final Exam: 35%. There are 4 quizzes in this semester. The students are not allowed to make up the missed quiz, midterm and final exams. 注意: 1. 在任何考試當中，有發生作弊情形，本科學期總成績予以零分計算。 2. 每位同學的成績均依照上述比例計算，學期總成績不予以做個別調整。
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
42
112-2_行銷管理
教學目標
1.To increase student knowledge of theories and practices dealing with marketing management.
2.To develop an understanding of marketing management through analysis and presentation of real-world cases.
3.To provide an opportunity to improve oral skills through discussion and presentation of article critiques and case analyses.
授課形式
理論講述與討論-70.00%;個案分析或作品賞析-15.00%;專題實作與報告-15.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Topics
Defining Marketing for the New Realities
Developing Marketing Strategies and Plans
Collecting Information and Forecasting Demand
Creating Long-Term Loyalty Relationships
Identifying Market Segments and Targets
Crafting the Brand Positioning
Creating Brand Equity
Setting Product Strategy
Developing Pricing Strategies and Programs
Designing And Managing Integrated Marketing Channels
Designing and Managing Integrated Marketing Communications
Perception
Learning and Memory
Motivation and Values
Personality and Lifestyles
Attitudes Change and Interactive Communications
Individual Decision Making
教科書/參考書
Kotler, P., & Keller, K. L. (2016). Marketing management (15th Ed.).
Michael R. Solomon (2016), Consumer Behavior: Buying, Having, Being (12th Ed.). Prentice-Hall. Selected handouts.
Additional readings will also be distributed from time to time.
評分標準
Group Project – 50%
Participation – 50%
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
30
1.To increase student knowledge of theories and practices dealing with marketing management.
2.To develop an understanding of marketing management through analysis and presentation of real-world cases.
3.To provide an opportunity to improve oral skills through discussion and presentation of article critiques and case analyses.
授課形式
理論講述與討論-70.00%;個案分析或作品賞析-15.00%;專題實作與報告-15.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
Topics
Defining Marketing for the New Realities
Developing Marketing Strategies and Plans
Collecting Information and Forecasting Demand
Creating Long-Term Loyalty Relationships
Identifying Market Segments and Targets
Crafting the Brand Positioning
Creating Brand Equity
Setting Product Strategy
Developing Pricing Strategies and Programs
Designing And Managing Integrated Marketing Channels
Designing and Managing Integrated Marketing Communications
Perception
Learning and Memory
Motivation and Values
Personality and Lifestyles
Attitudes Change and Interactive Communications
Individual Decision Making
教科書/參考書
Kotler, P., & Keller, K. L. (2016). Marketing management (15th Ed.).
Michael R. Solomon (2016), Consumer Behavior: Buying, Having, Being (12th Ed.). Prentice-Hall. Selected handouts.
Additional readings will also be distributed from time to time.
評分標準
Group Project – 50%
Participation – 50%
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
30
112-2_貨幣銀行學
教學目標
本課程的目標是讓學生對貨幣和金融體系的理論、制度和實務方面有一個深入的了解，其中包含金融體系之基本架構與運作內涵、貨幣供需之決定與在經濟體系扮演之角色，以及中央銀行如何利用貨幣政策調節經濟活動。課程旨在為學生提供理解貨幣、銀行和貨幣政策複雜性所需的知識和分析技能，使學生能以批判性的方式，將理論知識應用於實際情況，以討論貨幣政策和金融市場。
授課形式
理論講述與討論-90.00%;個案分析或作品賞析-0.00%;專題實作與報告-10.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
第01章 貨幣的本質與功能 第02章 貨幣的演進 第03章 金融體系簡介 第04章 金融市場工具 第05章 利率的行為暨利率期限結構理論 第06章 外匯市場的基本概念 第07章 銀行業 第08章 中央銀行業 第09章 貨幣供給的決定過程 第10章 貨幣需求理論 第11章 貨幣政策目標與操作策略 第12章 貨幣政策工具 第13章 金融穩定與總體審慎政策工具 第14章 IS/LM模型 第15章 總合供需模型 第17章 通膨（及通縮）的意義、類型與影響 第18章 通膨率與失業率間的關係──菲律普曲線
教科書/參考書
貨幣銀行學 Money, Banking & Economic Activity 作者：李榮謙 出版社：元照出版（智勝經管系列）
評分標準
出席:20% 期中考:40% 期末考:40%
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
74
本課程的目標是讓學生對貨幣和金融體系的理論、制度和實務方面有一個深入的了解，其中包含金融體系之基本架構與運作內涵、貨幣供需之決定與在經濟體系扮演之角色，以及中央銀行如何利用貨幣政策調節經濟活動。課程旨在為學生提供理解貨幣、銀行和貨幣政策複雜性所需的知識和分析技能，使學生能以批判性的方式，將理論知識應用於實際情況，以討論貨幣政策和金融市場。
授課形式
理論講述與討論-90.00%;個案分析或作品賞析-0.00%;專題實作與報告-10.00%;田野調查-0.00%;實驗-0.00%;其他-0.00%
課程內容與進度
第01章 貨幣的本質與功能 第02章 貨幣的演進 第03章 金融體系簡介 第04章 金融市場工具 第05章 利率的行為暨利率期限結構理論 第06章 外匯市場的基本概念 第07章 銀行業 第08章 中央銀行業 第09章 貨幣供給的決定過程 第10章 貨幣需求理論 第11章 貨幣政策目標與操作策略 第12章 貨幣政策工具 第13章 金融穩定與總體審慎政策工具 第14章 IS/LM模型 第15章 總合供需模型 第17章 通膨（及通縮）的意義、類型與影響 第18章 通膨率與失業率間的關係──菲律普曲線
教科書/參考書
貨幣銀行學 Money, Banking & Economic Activity 作者：李榮謙 出版社：元照出版（智勝經管系列）
評分標準
出席:20% 期中考:40% 期末考:40%
學分數
3
授課時數(周)
3
開課班級
A11132
修課人數
74