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Nr. LV-Typ(en) LV-Titel
4892 PI Sustainable Finance Präsenz-Modus
Anmeldung über LPIS
vom 01.02.2024 16:00 bis 18.02.2024 23:59
Abmeldung über LPIS
vom 01.02.2024 16:00 bis 27.04.2024 23:59

LV-Leiter/in Rui Duan, Ph.D.
Planpunkte Master Wahlfach - Advanced Topics in Financial Economics
Semesterstunden 2
Unterrichtssprache Englisch

Termine
Di, 30.04.2024 14:00-17:00 Uhr D4.0.127 (Lageplan)
Di, 07.05.2024 14:00-17:00 Uhr D4.0.127 (Lageplan)
Di, 14.05.2024 14:00-17:00 Uhr D4.0.127 (Lageplan)
Di, 21.05.2024 14:00-17:00 Uhr D4.0.127 (Lageplan)
Di, 28.05.2024 14:00-17:00 Uhr D4.0.127 (Lageplan)
Di, 04.06.2024 14:00-17:00 Uhr D4.0.127 (Lageplan)
Di, 11.06.2024 14:00-17:00 Uhr D4.0.127 (Lageplan)
Di, 18.06.2024 14:00-16:00 Uhr P TC.3.03 (Lageplan)
Termindownload (ical) | Termine abonnieren

Weitere Informationen https://learn.wu.ac.at/vvz/24s/4892

Kontakt:
rui.duan@wu.ac.at
Inhalte der LV:

Unit 1: Introduction to Sustainable Finance (PSF Ch 1, GP Ch 1)

  • Challenges to sustainability
  • Purpose and importance of sustainable finance
  • Limits to sustainable finance

Unit 2: Corporate Purpose (PSF Ch 2-3, GP Ch 2-3, 5, articles to be provided)

  • Shareholder vs. stakeholder value
  • Short-term vs. long-term value creation
  • Empirical evidence (including discussions on ESG measurements and ratings)

Unit 3: Corporate Purpose: Empirical Evidence (PSF Ch 5, GP Ch 4, articles to be provided)

  • Challenges to sustainable finance
  • Overcoming barriers to sustainable finance
  • Empirical evidence (determinants of CSR practices)

Unit 4: Investor Activism and Engagement (PSF Ch 4, GP 6, 9 articles to be provided)

  • Role of institutional investors in sustainable finance
  • Voice vs. exit
  • Empirical evidence (investors’ impact on CSR performance)

Unit 5: Sustainable Investing (PSF Ch 7-8, articles to be provided)

  • Typology of sustainable investing strategies
  • Motivations to SRI
  • Empirical evidence (investor preference to SRI)

Unit 6: Sustainable Investing Continued (PSF Ch 9, articles to be provided)

  • Stages of sustainable finance and SRI
  • ESG Integration and impact investing
  • Empirical evidence

Unit 7: Climate Finance: Empirical studies (articles to be provided)

  • Climate risk and implications
  • Corporate response to climate change and environmental regulations
Lernergebnisse (Learning Outcomes):

After completing the course, students will be able to:
•    Understand the context behind, and development, of sustainable finance
•    Understand the role and interplay between different stakeholders and opportunities for future development
•    Evaluate corporate sustainability risks and opportunities from both managerial and investment perspectives
•    Empirically examine the relationships between CSR practices and firm performance as well as between sustainable investing strategies and financial performance
•    Think critically with regards to applying sustainable finance in practice.

Regelung zur Anwesenheit:

Attendance is compulsory for this class. It is also a necessary condition to receive participation marks.

Lehr-/Lerndesign:

The course induces learning in two ways. One takes the conventional class-room teaching approach and introduces course material through presentations by the lecturer. Such approach is used mainly in the teaching of theoretical and practical contents. The other focuses on the discussions of existing empirical research in the academic literature. To facilitate learning in this approach, students are strongly recommended to complete the assigned reading material prior to class and be ready to engage in class discussions with respect to the key findings, interpretations, and challenges to the studies, as well as how they fit into the literature and the context of sustainable finance.

Leistung(en) für eine Beurteilung:

The components for the grades are weighted as follows:
•    10% class participation
•    20% in-class presentation
•    70% group assignments (2)

Class participation (10%): Participation is a central part of the learning process for you and your classmates. Your participation mark reflects your contribution to the classroom learning environment. This includes class attendance, arriving in class on time, staying for the class duration, and actively engaging in class debates. Please note that preparation before empirical classes is expected to effectively participate in those discussions. 

In-class presentation (20%): To facilitate class discussion on related literature, students are required to present one of the selected empirical studies in-class (your selection will be decided during the first class). The presentation should convey the main objectives, the contributions, and the key findings of the paper. The student should tie the study to the content of our previous units.

Group assignment 1 (35%): In teams (three), students are required to empirically address the following questions: (1) the impact of sustainable practices on firm performance; and (2) the determinants of firms' sustainable practices. The exercise entails (a) constructions of CSR score, performance measures, and other factor variables (e.g., executive compensation, competition, etc.) following common approaches in the literature; (b) regression analyses to address the question; and (c)  interpretation of the key findings. Detailed instructions will be given by the end of Unit 2, and it is due at the beginning of Unit 5.

Group assignment 2 (35%): In teams (three), students are required to empirically examine whether socially responsible investing would affect the performance of such screened stock portfolios. The exercise entails (a) constructions of SRI and non-SRI portfolios of U.S. stocks following common approaches in the literature; (b) estimations of the abnormal returns for each of the investment strategies; and (c) interpretation of the key findings. Detailed instructions will be given by the end of Unit 5, and it is due at Week 8 2:00 p.m.

Zuletzt bearbeitet: 30.04.2024 22:50

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