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040071 SE Seminar (MA) (2024W)
Intermediary Asset Pricing
Continuous assessment of course work
Labels
Registration/Deregistration
Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).
- Registration is open from Mo 09.09.2024 09:00 to Th 19.09.2024 12:00
- Registration is open from We 25.09.2024 09:00 to Th 26.09.2024 12:00
- Deregistration possible until Mo 14.10.2024 23:59
Details
max. 24 participants
Language: English
Lecturers
Classes (iCal) - next class is marked with N
- N Monday 07.10. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 14.10. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 21.10. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 28.10. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 04.11. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 11.11. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 18.11. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 25.11. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 02.12. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 09.12. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 16.12. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 13.01. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 20.01. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
- Monday 27.01. 15:00 - 16:30 Seminarraum 3 Oskar-Morgenstern-Platz 1 1.Stock
Information
Aims, contents and method of the course
Standard models of asset pricing build on the fiction of large crowds of small, and, hence, non-strategic investors acting as price takers. Accordingly, in equilibrium assets are priced relative to investors’ marginal rates of substitution at their equilibrium holdings.Of course, real world markets are populated with large investors with market power, who can strategically affect prices. The whole purpose of hedge funds and short sellers, for example, is to profit from price manipulation. But also long-term investors such as life insurers, ETF providers or wealth managers exert substantial influence on securities’ pricing. While activist investors target the investment policies of specific corporations, large common owners such as Blackrock, State Street and Vanguard might feel tempted to coordinate, and possibly relax, the intensity of competition in global product markets.Will society benefit from the coordinating role of common owners in producing information and internalizing externalities, or will the tendency towards cartelization and monopolization increase firm profits at the expense of reduced economic innovation and growth?These are pressing questions of current cutting-edge research in asset pricing. The seminar provides an introduction into and orientation within this rapidly expanding literature. As such it serves also as an introduction for topics that can be pursued in independent research while drafting a master thesis.
Assessment and permitted materials
Seminar paper (45%)
Paper presentation (25%)
Active discussion of work of peers (30%) -Attendance and active participation are mandatory. This course is NOT intended or part-time students.
Paper presentation (25%)
Active discussion of work of peers (30%) -Attendance and active participation are mandatory. This course is NOT intended or part-time students.
Minimum requirements and assessment criteria
Grading is based on three elements:1. Seminar paper (45%)2. Presentation of seminar paper and modearting discussion (25%)3. Active participation (30%)
Research requires two-way communication of ideas. Therefore, in reserach communication both, i.e. sender and receiver play an crucial role to establish knowledge and potentially extend it further. Accordingly, both roles will be relevant for grading.
Research requires two-way communication of ideas. Therefore, in reserach communication both, i.e. sender and receiver play an crucial role to establish knowledge and potentially extend it further. Accordingly, both roles will be relevant for grading.
Examination topics
1. Seminar paper
2. Presentation of seminar paper
3. Active participation throughout the seminar, i.e. in ALL sessions.
2. Presentation of seminar paper
3. Active participation throughout the seminar, i.e. in ALL sessions.
Reading list
A literature list will be presented at the opening session of Oct. 7th. It will be available in Moodle.
Association in the course directory
Last modified: Sa 07.09.2024 15:25