| MATHEMATICS (TURKISH, PHD) | |||||
| PhD | TR-NQF-HE: Level 8 | QF-EHEA: Third Cycle | EQF-LLL: Level 8 | ||
| Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
| FIN6407 | Asset Pricing | Fall | 3 | 0 | 3 | 10 |
| The course opens with the approval of the Department at the beginning of each semester |
| Language of instruction: | En |
| Type of course: | Departmental Elective |
| Course Level: | |
| Mode of Delivery: | Face to face |
| Course Coordinator : | Dr. Öğr. Üyesi DİLA ASFUROĞLU |
| Course Lecturer(s): |
Dr. Öğr. Üyesi AYŞE DİLARA ALTIOK YILMAZ |
| Course Objectives: | Asset valuation (pricing) is the process of determining the current worth of a portfolio, firm, investment, or balance sheet item and it is the essence of most financial decision-making in corporate finance. The objective of this course is to study what factors influence the value of assets and how assets are priced in financial markets. This cource will introduce the student to the workings of asset markets and the fundamental tools of asset valuation and theoretical asset pricing models While the main goal of the course is to familiarize the student with the basic theoretical valuation concepts, the practical applications will also be discussed. The student is expected to learn all the basic tenets of asset valuation at the end of the course. More of the emphasis will be on fixed income security valuation, stock valuation and firm valuation. |
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The students who have succeeded in this course; learn 1)The logic of asset pricing, 2)Theoretical asset pricing models, 3)Practical applications of theoretical asset pricing models. |
| Theoretical asset pricing models, fixed income pricing, firm valuation. |
| Week | Subject | Related Preparation | |
| 1) | Introduction to Valuation, Generalities About Valuation, Primary Value Concepts, Efficient Market Hypothesis. | ||
| 2) | Interest Rates, Time Value of Money, Concepts of Risk, Return and Discount Factor. | ||
| 3) | How to Value Securities? | ||
| 4) | Pricing of Bill-Bond-Eurobond | ||
| 5) | Duration, Moditified Duration and Investment Strategies. | ||
| 6) | CAPM -Capital Asset Pricing Model | ||
| 7) | CAPM -Betas, Risk Premium | ||
| 8) | Arbitrage Pricing Theory(APT) | ||
| 9) | Fama French 3 Factor Model | ||
| 10) | Fama French 5 Factor Modeli | ||
| 11) | Cost of Capital: Cost of Debt and Cost of Equity | ||
| 12) | Cost of Equity in Emerging Markets | ||
| 13) | Firm Valuation Models | ||
| 14) | Firm Valuation Models | ||
| Course Notes: | Investment Valuation: Tools and Techniques for Determining the Value of Any Asset by Aswath Damodaran, 2nd Edition. |
| References: | Related Articles will be announced by the lecturer. |
| Semester Requirements | Number of Activities | Level of Contribution |
| Attendance | % 0 | |
| Laboratory | % 0 | |
| Application | % 0 | |
| Field Work | % 0 | |
| Special Course Internship (Work Placement) | % 0 | |
| Quizzes | % 0 | |
| Homework Assignments | % 0 | |
| Presentation | % 0 | |
| Project | % 0 | |
| Seminar | % 0 | |
| Midterms | 1 | % 40 |
| Preliminary Jury | % 0 | |
| Final | 1 | % 60 |
| Paper Submission | % 0 | |
| Jury | % 0 | |
| Bütünleme | % 0 | |
| Total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 40 | |
| PERCENTAGE OF FINAL WORK | % 60 | |
| Total | % 100 | |
| No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
| Program Outcomes | Level of Contribution |