empirical corporate Finance

Time: May 27 - June 4, 2021

Place: Online

Instructor: Professor Renée Adams (Saïd Business School, University of Oxford)

Lectures: 20 h of lectures. (20 x 45 minutes) 

All times according to Helsinki time zone (GMT +3)

DAY
DATE
TIME
PLACE
Thursday 27.5. 11:00-14 Online
Friday 28.5.  11:00-14 Online
Monday 31.5. 11:00-14 Online
Tuesday 1.6. 11:00-14 Online
Wednesday 2.6. 11:00-14 Online
Thursday 3.6. 11:00-14 Online
Friday 4.6. 11:00-14 Online

Course objectives: This course offers a doctoral level introduction to Empirical Corporate Finance and aims to prepare doctoral students to do research on their own in this field. The course is organized around published and working papers in the field with an emphasis on econometric methods. Rather than providing an exhaustive overview of the field, the course focuses in depth on selected topics to illustrate different empirical approaches to the same or related questions.  For instance using papers on ownership concentration and corporate governance, the course will highlight the following empirical themes: endogeneity, difference in difference estimators and event studies.   

Prerequisites: The course requires a good knowledge of the 1st year Ph.D. courses in econometrics as well as some basic knowledge of corporate finance.

Course Outline: PDF

Reading List:
PDF

Access to the articles is subject to your home institutions' subsciptions to the databases. Hard copies of all readings are available for consultation at GSF office (Ekonominaukio 1, room T317)

Lecture Notes: Notes 1

Notes 2

Notes 3

Notes 4

Notes 5

Password for opening the course material will be e-mailed to the participants.

Exercises: TBA

Password for opening the course material will be e-mailed to the students.

Grading:  The whole course for GSF students comprises 3 compulsory parts (an empirical research paper, an empirical exercise and a referee report). The total points of this course are 100. In order to pass the course one needs at least 40% of points (i.e. 40 points). In addition, one has to get at least 40% of the points from each part.

  • an empirical research paper (50% weight), team work. Research paper is carried out with teams of max 3 people. In exceptional cases, single authored papers are accepted. Please agree on this with Professor Adams. More information during the course.
  • an empirical exercise(25% weight), individual work
  • a referee report (25% weight), individual work.

Homework deadline: August 4, 2021. Please return the assignments to GSF coordinator via email at reetta.ali-alha (@) aalto.fi. Please respect the deadline promptly.

Credit units: 6 ECTS cr.

List of Participants: PDF

Participants: Doctoral students in finance. The course is also open for KATAJA as well as FDPE students with sufficient background in finance and/or economics. The course is also open for foreign doctoral students given that there is space in the course.

Registration / Application

 

  • Doctoral students of GSF and FDPE (finance & economics): Please register through this link.
  • Doctoral students in related fields and doctoral students at foreign universities: Application form can be found here: PDF file or Word file. Please, send in addition to your complete contact information, a report on the status of your doctoral studies, and a brief CV. Please ask also your thesis advisor to send us a short letter of recommendation by-email. All the required documents should be sent by e-mail to gsf@aalto.fi. All students will be informed of their acceptance soon after the deadline.

 

The deadline for registering in this course is May 14, 2021.