Module ASB-3215:
Adv Inv Theory & Practice
Module Facts
Run by Bangor Business School
10 Credits or 5 ECTS Credits
Semester 2
Organiser: Dr Saverio Stentella Lopes Stentella Lopes
Overall aims and purpose
To provide an advanced level of understanding of investment approaches and their theoretical and empirical underpinnings.
Course content
Market efficiency; Performance measurement and attribution; Measuring investment risk; Anomalies in returns and common investment philosophies; Benchmarking and models of expected returns; Testing for excess returns: methodologies; Testing for excess returns: key findings; Theoretical rationale for findings of excess returns; Real-world issues in the implementation of investment strategies.
Assessment Criteria
threshold
Satisfactory standard: 40-49 No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.
good
Average Standard: 50-59 Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
High Standard: 60-69 Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.
excellent
Excellent standard: 70+ An outstanding performance, exceptionally able. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
Learning outcomes
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Explain key concepts relating to market efficiency and critically evaluate approaches to testing market efficiency.
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Assess the empirical evidence relating to market efficiency.
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Apply appropriate techniques to measure and interpret the performance and the risk associated with investment strategies.
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Critically evaluate common investment philosophies including value investing, growth investing, and small-cap investing, and the related empirical evidence.
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Demonstrate a critical understanding of benchmarking and models of expected returns.
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Demonstrate a critical knowledge of methods used to test empirically for excess returns.
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Articulate the theoretical rationale proposed in the academic literature for the apparent excess profitability of some strategies
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Demonstrate a critical awareness of issues relating to the real-world implementation of trading strategies inspired by academic research, including the impact of liquidity, leverage, and trading costs on returns and risk.
Assessment Methods
Type | Name | Description | Weight |
---|---|---|---|
Coursework | 25 | ||
Exam S2 2hrs | 75 |
Teaching and Learning Strategy
Hours | ||
---|---|---|
One 2-hour lecture per week. |
Pre- and Co-requisite Modules
Pre-requisites:
Courses including this module
Compulsory in courses:
- N322: BA Banking and Finance year 3 (BA/BIF)
- NN13: BA Business Studies and Finance year 3 (BA/BSF)
- NN14: BA Business Stud & Finance (with International Experience) year 4 (BA/BSFIE)
- 8V55: BSc Banking and Finance (with International Experience) year 3 (BSC/BFIE)
- N391: BSc Banking and Finance year 3 (BSC/BFIN)
- N39B: BSc Banking and Finance (4 year w Incorporated Foundation) year 3 (BSC/BFIN1)
- N324: BSc Banking and Finance (Bangor International College) year 3 (BSC/BICBF)
- N106: BSc Business Stud & Finance (Bangor International College) year 3 (BSC/BICBSF)
- L193: BSc Financial Economics (Bangor International College) year 3 (BSC/BICFE)
- NN1H: BSc Business Studies and Finance year 3 (BSC/BSFIN)
- NN1J: BSc Business Studies and Finance (4 year with Incorp Found) year 3 (BSC/BSFIN1)
- L111: BSc Financial Economics year 3 (BSC/FINEC)
- L11B: BSc Financial Economics (4 year w Incorporated Foundation) year 3 (BSC/FINEC1)
Optional in courses:
- NN45: BA Accounting and Banking year 3 (BA/AB)
- NN36: BA Accounting and Banking with International Experience year 4 (BA/ABIE)
- N400: BA Accounting and Finance year 3 (BA/AF)
- N401: BA Accounting & Finance (with International Experience) year 4 (BA/AFIE)
- NG10: BA Business and Computer Information Systems year 3 (BA/BCIS)
- NN15: BA Business Studies and Marketing year 3 (BA/BSM)
- 8N60: BA Business Studies and Marketing (with International Exp) year 4 (BA/BSMIE)
- NN44: BSc Accounting and Banking with International Experience year 4 (BSC/ABIE)
- NN43: BSc Accounting and Banking year 3 (BSC/ACCB)
- NN46: BSc Accounting and Banking (4 year with Incorp Found) year 3 (BSC/ACCB1)
- NN4J: BSc Accounting and Finance (4 year with Incorp Found) year 3 (BSC/ACCF1)
- NN4H: BSc Accounting and Finance year 3 (BSC/ACCFIN)
- N402: BSc Accounting & Finance (with International Experience) year 4 (BSC/ACCFINIE)
- L190: BSc Business Economics year 3 (BSC/BEC)
- L19B: BSc Business Economics (4 year with Incorporated Foundation) year 3 (BSC/BEC1)
- L191: BSc Business Economics with International Experience year 3 (BSC/BECIE)
- N406: BSc Accounting and Finance (Bangor International College) year 3 (BSC/BICAF)
- L192: BSc Business Economics (Bangor International College) year 3 (BSC/BICBE)
- NNM1: BSc Business Studies & Marketing with Intl Experience year 4 (BSC/BSMIE)
- NN1M: BSc Business Studies and Marketing year 3 (BSC/BSMKT)
- NN1K: BSc Business Studies & Marketing (4 year with Incorp Found) year 3 (BSC/BSMKT1)