Checking date: 05/08/2020


Course: 2020/2021

Asset valuation and selection
(13776)
Study: Bachelor in Finance and Accounting (201)


Coordinating teacher: PEÑA SANCHEZ DE RIVERA, JUAN IGNACIO

Department assigned to the subject: Department of Business Administration

Type: Electives
ECTS Credits: 6.0 ECTS

Course:
Semester:




Students are expected to have completed
Mathematics (Linear Algebra and Calculus), Statistics, Econometrics I and II, Microeconomics III, Financial Economics, Corporate Finance, Financial Systems
Competences and skills that will be acquired and learning results. Further information on this link
The design and management of Long-run and short-run investment strategies with special focus on the energy transition investing.
Description of contents: programme
PROGRAM: Chapter 1. Introduction What is this course about? Grading Data and Software Project Asset standardized description (Assignment #1) Chapter 2. Investments: Assets and Strategies Asset Classes CFD ETF (Assignment #2) Investment Strategies: Passive and Active Asset Allocation Security Selection Market Timing Portfolio weights Portfolio performance Chapter 3. Green Investment Gap Green Investment Gap (GIG) GIG : Public sector initiatives GIG: private markets Road map Sources of financing Limitations of traditional instruments New financial instruments for the energy transition Chapter 4. Sources of financing and limitations of traditional products Sources of financing Return and risk: key factors Who does what: Debt Who does what: Equity Limitations of traditional instruments: bonds and stocks (Assignment #3) Chapter 5. Green Investment Banks Green Investment Banks (GIB) What they are What they do Risk mitigants Transaction enablers Key contributions Measuring results Chapter 6. Green Bonds What is a green bond? Labeling The market of GB Primary market Secondary market Portfolios Corporate performance of GB issuers Other green debt instruments Chapter 7. Power Purchase Agreements Why PPA? Physical PPA Virtual PPA (VPPA) Cash flows VPPA VPPA as a Financial Swap Pricing Fixed-for-floating Swaps Prons and cons of VPPA Case: Cummins VPPA (Assignment #4) Chapter 8. Securitization and YieldCos Securitization Solar Securitization Refinancing Master Limited Partnerships (MLPs) YieldCos structure CAFD Pros and Cons A Viable model for YieldCos Chapter 9. Personal portfolio choice Preliminaries Life expectancy Instruments Insurance Asset allocation Investment funds REITS RoboAdvisors Chapter 10. Behavioral finance Efficient Markets? Some experiments Psychology Biases Preferences Prospect Theory Limits to Arbitrage Bubbles Behavioral Investment Strategies
Learning activities and methodology
Methodology: (1) Theory. (2) Cases (3) Computer simulations. (4) Exercises (5) Class discussion.
Assessment System
  • % end-of-term-examination 0
  • % of continuous assessment (assigments, laboratory, practicals...) 100
Basic Bibliography
  • - COCHRANE, J.H.. Asset Pricing. Princeton University Press. . 2005
  • - DIMSON, E., P. MARSH, and M. STAUNTON . Triumph of the Optimists: 101 Years of Global Investment Returns. Princeton University Press. 2002
  • - SHEFRIN, H. . Beyond Greed and Fear: Understanding Behavioral Finance. Oxford University Press. . 2002
  • A. Ilmanen. Expected returns. Wiley. 2011
  • CAMPBELL, J. y VICEIRA, . Strategic Asset Allocation. Oxford University Press. . 2002.
Additional Bibliography
  • H. Minsky. Stabilizing an unstable economy. McGraw Hill. 2008
  • Monnery, N. . Safe as Houses?. A Historical Analysis of Property Prices. .. London Publishing.. 2011

The course syllabus and the academic weekly planning may change due academic events or other reasons.


More information: http://www.uc3m.es