BEFM020 Dissertation

MSc Financial Analysis & Fund Management

Open to MSc Finance & Investment students

Dr Angela Christidis
Xfi Centre for Finance and Investment
 Xfi Centre of Finance and Investment

Introduction

 This module gives you the chance to identify and explore

an area of specific interest using your knowledge and
understanding of finance-related areas gained in the
course.
 The dissertation provides an opportunity for you to
extend your learning and develop your interests in a
particular topic through appropriate research methods.
 Xfi Centre of Finance and Investment

Introduction

 You will be able to draw upon the skills and knowledge

you have developed during the MSc FAFM or MSc F&I
programme as a whole, and by carrying out your own
study, gain a deeper understanding of the research
process.
 You will also gain transferable employability skills, in
particular, database and econometric modelling etc. You
will receive additional training and support on Financial
Database Training sessions offered by the School.
 Xfi Centre of Finance and Investment

Introduction

 Although the prospect of carrying out research can be

daunting, remember that you have the support of your
supervisor throughout. You will be allocated a supervisor
who is an expert in the field that you are studying.
 You will begin the module with an opportunity to share
ideas with your supervisor, prepare your dissertation
proposal, and identify areas in which you feel less
confident or you want to consider in more depth.
 Xfi Centre of Finance and Investment

Choosing a Topic

 This style of dissertation enables you to choose a topic

from a wide variety of subject areas that may be of
particular interest to you, or relevant to your future
career.
 You may want to explore an existing problem, or test a
specific theory, or replicate a study in a different context
or exploring a new methodological approach.
 Xfi Centre of Finance and Investment

Choosing a Topic
You may like to ask yourself:
Have you tried reading current journal articles or reading
newspapers that may provide you with an idea about
something you can study?
Have you read about anything that you would like to find
out more about? Maybe it was an area you covered in an
earlier module, or a current issue in the news. There may
be a theory that you want to test in some way.
Have you read a focused piece of research carried out by
someone else that you would like to replicate or carry out in
a new way?
 Xfi Centre of Finance and Investment

Sample Topic Areas

 Empirical corporate finance
 Capital structure
 Takeovers and mergers and acquisitions
 Executive compensation
 Payout policy: dividends and share repurchases
 The impact of exchange rate movements on firm value
 Insiders’/directors’ trading around corporate events
 Securities issuance (e.g. initial public offerings,
seasoned equity offerings)
 Mutual fund performance
 Xfi Centre of Finance and Investment

Sample Topic Areas

 Corporate governance (board structure and composition)
 Corporate governance in acquisitions of private
companies
 Corporate social responsibility, performance and
disclosure
 Distress risk and stock returns
 The relationship of financial volatility with the
macroeconomy and portfolio
 Corporate hedging
 Cash holding
 Event study project
 Xfi Centre of Finance and Investment

Sample Topic Areas

 Impact of macroeconomic/firm-specific events/ market-
related information on asset prices
 Comparison of the different portfolio allocation techniques
 Fund performance evaluation
 Empirical investigation of volatility models
 Political contributions and IPO earnings management
 Do multiple credit ratings affect underpricing? Evidence
from the U.S. IPO
 CEO educational background in mergers and acquisitions:
Evidence from the U.S.
 Xfi Centre of Finance and Investment

Sample Topic Areas

 Globally Systemically Important Financial Institutions
 Financial accounting in the banking industry
 Equity valuation using forecasted earning issues
 Estimating the implied cost of capital
 The measurement of portfolio performance
 The operating performance of firms in mergers and
acquisitions
 Market efficiency and behavioural finance
 Law and finance, finance and growth
 Market timing and trading strategies
 Xfi Centre of Finance and Investment

Feedback from a student in previous year

Xfi Centre of Finance and Investment

Dr Angela Christidis
Senior Lecturer in Finance

Please come to my office hours or contact

me by email if you have any further query:

Office hours Term 2:

Monday 16.45-17.45
Thursday 15.45-16.45
Email: A.C.Christidis@exeter.ac.uk

BEFM020 Introductory Lecture will be

given on Term 2 Week 8