Identifying Data 2023/24
Subject (*) Financial Asset Values Code 611448008
Study programme
Mestrado Universitario en Banca e Finanzas
Descriptors Cycle Period Year Type Credits
Official Master's Degree 1st four-month period
 First Obligatory 3
Language
Spanish
Teaching method Face-to-face
Prerequisites
Department Empresa
Coordinador
Boedo Vilabella, Lucia
 E-mail
lucia.boedo@udc.es
Lecturers
Boedo Vilabella, Lucia
Iglesias Antelo, Susana
 E-mail
lucia.boedo@udc.es
susana.iglesias.antelo@udc.es
Web http://campusvirtual.udc.gal
General description Materia que pretende dar a coñecer ao alumnado conceptos e teorías básicas do campo da valoración financeira de activos.

Study programme competencies
Code Study programme competences
A13 Coñecer e aplicar, mediante ferramentas informáticas, os conceptos e teorías que constitúen a base das finanzas modernas
A15 Comprender os modelos de valoración de activos financeiros; crear e xestionar carteiras de valores
B3 Uso adecuado dos medios e sistemas de información dispoñibles.
B4 Habilidades informáticas.
B5 Habilidades de presentación oral e escrita.
B7 Habilidade para traballar de forma autónoma e tomar decisións.
B8 Capacidade de organizar e planificar, saber administrar o tempo.
B12 Preocupación pola calidade, por facer as cousas ben.
B14 Análise e toma de decisións en materia de riscos financeiros e de investimento
B15 Explotación da información dispoñible para a planificación e a toma de decisións
B16 Utilización de técnicas estatísticas e econométricas para a resolución de problemas específicos no ámbito das finanzas e a banca
B17 Comprensión do concepto de valor temporal do diñeiro e aprendizaxe dos instrumentos de matemáticas financeiras que o utilizan para resolver distintos problemas no ámbito das finanzas
B18 Adquisición da capacidade necesaria para analizar a situación financeira da empresa nun momento determinado, establecemento das correccións adecuadas e planificación do seu futuro
B20 Estudo da solvencia das empresas e das entidades financeiras
B23 Coñecemento dos principais aspectos que abarca a actividade bancaria
B24 Posuír e comprender coñecementos que acheguen unha base ou oportunidade de ser orixinais no desenvolvemento e/ou aplicación de ideas, a menudo nun contexto de investigación
B25 Que os estudantes saiban aplicar os coñecementos adquiridos e a súa capacidade de resolución de problemas en contornas novas ou pouco coñecidas dentro de contextos máis amplos (ou multidisciplinares) relacionados coa súa área de estudo
B26 Que os estudantes sexan capaces de integrar coñecementos e enfrontarse á complexidade de formular xuízos a partir dunha información que, sendo incompleta ou limitada, inclúa reflexións sobre as responsabilidades sociais e éticas vinculadas á aplicación dos seus coñecementos e xuízos.
B27 Que os estudantes saiban comunicar as súas conclusións e os coñecementos e razóns últimas que as sustentan a públicos especializados e non especializados dun modo claro e sen ambigüidades
B28 Que os estudantes posúan as habilidades de aprendizaxe que lles permitan continuar estudando dun xeito que haberá de ser en grande medida autodirixido ou autónomo.
C3 Using ICT in working contexts and lifelong learning

Learning aims
Learning outcomes Study programme competences
Knowledge of the concepts and theories that form the basis of modern finance and understanding of their practical implications AJ13
AJ15
 BJ5
BJ7
BJ8
BJ12
BJ14
BJ15
BJ16
BJ17
BJ18
BJ20
BJ23
BJ24
BJ25
BJ26
BJ27
BJ28
Practical application of financial models using a spreadsheet AJ13
 BJ3
BJ4
 CC3
Knowledge oriented to passing the EFA and LCCI exams BJ3
BJ14
BJ16
BJ17

Contents
Topic Sub-topic
VARIABLE INCOME
1. Return and risk 1.1. Return of securities and portfolios
1.2. Volatility of securities and portfolios
1.3. The concept of diversification
1.4. The assumption of normality of asset returns
2. Portfolio selection 2.1. Fundamental aspects of Portfolio Theory
2.2. Optimal portfolio selection: the Markowitz model
2.3. Sharpe's market model
3. Capital asset pricing 3.1. The capital asset equilibrium model (CAPM)
3.2. CAPM applications:
3.2.1. Cost of equity
3.2.2. Capital asset pricing
3.2.3. Risk-adjusted return
FIXED INCOME
1. General characteristics of fixed income assets 1.1. The issuance of bonds and obligations. Typology.
1.2. Risks of investing in bonds
2. Valuation of fixed income assets 2.1. The market interest rate and its effect on the price of bonds
2.2. Duration as a measure of market risk
2.3. The modified duration as a measure of market risk
2.4. The Basic Point Value
2.5. The modified duration error. Convexity

Planning
Methodologies / tests Competencies Ordinary class hours Student’s personal work hours Total hours
Guest lecture / keynote speech A15 B15 B16 B17 B18 B20 B23 B24 B25 B26 B27 B28 14 27.5 41.5
ICT practicals A13 B3 B4 C3 4 7 11
Case study A13 A15 B3 B4 B5 B7 B8 B14 B16 2 2 4
Mixed objective/subjective test B5 B7 B12 B14 2 8 10
Mixed objective/subjective test B5 B7 B12 B14 2.5 5 7.5
 
Personalized attention 1 0 1
 
(*)The information in the planning table is for guidance only and does not take into account the heterogeneity of the students.

Methodologies
Methodologies Description
Guest lecture / keynote speech Oral presentation supported by audiovisual media. It includes theoretical sessions and practical sessions with examples.
ICT practicals Practical sessions in which financial models are applied using a spreadsheet.
Case study Real cases analysis.
Mixed objective/subjective test Exams that include practical and theoretical questions for a continuous evaluation.
Mixed objective/subjective test Final exam that include practical and theoretical questions.

Personalized attention
Methodologies
Case study
Mixed objective/subjective test
ICT practicals
Mixed objective/subjective test
Description
Tutoring and supervision of students' work in the classroom and through email, Teams and tutoring in the teachers' offices.

Assessment
Methodologies Competencies Description Qualification
Mixed objective/subjective test B5 B7 B12 B14 Exam of the subject that represents 70% of the final grade that can be obtained (maximum 7 points). It will be held in January (first chance) and July (second chance) on the dates set by the faculty. 70
Mixed objective/subjective test B5 B7 B12 B14 Continuous evaluation exams that represent 30% of the final grade (maximum 3 points) and will be held during the class period. 30
 
Assessment comments

EVALUATION REGULATIONS:

1. Attendance: To pass the subject, students enrolled full time must participate in at least 80% of the scheduled face-to-face activities.

2. Evaluation conditions: It is forbidden to access the exam room with any device that allows communication with the outside and / or  information storage.

Regarding
the commission of fraudulence and disciplinary responsibilities, in the general
case will be applied what is established in the: "Normas
de evaluación, revisión y reclamación de las calificaciones de los estudios
de grado y master universitario" ("Rules for evaluation, review and claim of the qualifications of
undergraduate and university master's studies") of the UDC. In
particular, a fraudulent performance of the exams or other evaluation
activities, once verified, will directly imply the qualification of fail in the
call that is committed: the student will be qualified with "fail"
(numerical grade 0) in the corresponding call of the academic year, whether the
commission of the fault occurs in the first opportunity or in the second. For
this, the modification of the student's grade in the first opportunity
record will be done if it were necessary.

3. Identification: The student must prove his/her personality in accordance with current regulations.


TYPES OF RATING:

1. Qualification of not presented: It corresponds to the person who only participates in evaluation activities that have a weighting lower than 20% on the final qualification, regardless of the qualification achieved.

2. Students with recognition of part-time dedication and academic exemption from attendance: They will be evaluated with the same criteria as full-time students.


EVALUATION OPPORTUNITIES:

1. The evaluation criteria are the same for the first and the second opportunities.

2. The evaluation of the early opportunity will be done through an exam that will account for 100% of the final grade.

Sources of information
Basic Brun, Xavier; Moreno,Manuel (2008). Análisis y selección de inversiones en mercados financieros. Barcelona: Profit
Suárez, Andrés (2014). Decisiones óptimas de inversión y financiación en la empresa. 22ª ed.. Madrid: Pirámide (eBook)
Ferruz Agudo, Luis (2015). Dirección Financiera del riesgo de tipo de interés. Madrid: Pirámide (eBook)
Pra, Inmaculada; Martín, Rodrigo (coords.) (2020). El asesoramiento financiero en Europa tras la MiFID II (II). Madrid: Pirámide
CNMV (s. f.). El mercado de valores y los productos de inversión. Manual para universitarios. CNMV
Pindado, Julio (dir.) (2012). Finanzas empresariales. Madrid: Paraninfo
Mascareñas Pérez-Íñigo, Juan (2002). Gestión de activos de renta fija. 1ª ed.. Madrid: Pirámide
García Boza; Juan (2013). Inversiones financieras: selección de carteras. Teoría y práctica. Madrid: Pirámide
Álvarez, Begoña; Boedo, Lucía (2011). La financiación empresarial: exposición teórica y análisis de la operativa. Barcelona: Inforbook's
www.paraninfo.es/catalogo/9788497328951/finanzas-empresariales (2013). Material descargable del libro "Finanzas empresariales" de J. Pindado.
oikonomicon.udc.es (2023). Página web del profesor Carlos Piñeiro Sánchez.

Complementary (). .
Gómez-Bezares, Fernando (2016). Gestión de carteras. 4ª edición ampliada. Bilbao: DDB
Boedo, Lucía (2009). Las fuentes de financiación y su coste. Aspectos fundamentales y operativa financiera. Netbiblo. Descargable en ruc.udc.es/dspace/handle/2183/11816
Ferrando, Máximo;Gómez, Ana Rosa; Lassala, Carlos; Piñol, José Agustín; Reig,Araceli (2005). Teoría de la Financiación I. Modelos CAPM, APT y aplicaciones. Madrid: Pirámide


Recommendations
Subjects that it is recommended to have taken before

Subjects that are recommended to be taken simultaneously

Subjects that continue the syllabus
Risk Management and Analysis/611448004
Financial Derivative Instruments/611448005

Other comments

1. The importance of ethical principles related to sustainability values in personal and professional behaviour will be taken into account.

2. Work will be done to identify and modify prejudices and sexist attitudes. The teaching staff will influence in the classroom context in order  to modify them and with the aim to promote values of respect and equality.

3.    Teaching staff will be aware to detect situations of discrimination based on gender and they will be prepared to develop actions and measures that should be taken to correct them.

4. Teaching staff will facilitate the adequate integration of students who, for physical, sensory, mental or sociocultural reasons, experience difficulties to achieve a proper and equality access into university life. 


(*)The teaching guide is the document in which the URV publishes the information about all its courses. It is a public document and cannot be modified. Only in exceptional cases can it be revised by the competent agent or duly revised so that it is in line with current legislation.