Master Finance

Now one instead of two Masters…

• The Master’s program in Finance combines the best of two previous Masters, namely:• Master Financial Management• Master Investment Analysis

• Started in September 2010• Related programs

• Master Accounting• Research Master Business (Finance orientation, if you want to do a

PhD)• Master Quantitative Finance and Actuarial Science (QFAS, very

technical)

FM-IA -> MiF

• Fields of corporate finance and investment have become increasingly interlinked.

• High-level decision making, either as e.g. a Chief Financial Officer or as an equity analyst, requires a sound knowledge of both corporate finance/accounting and asset pricing models.

• This Master’s program in Finance accomplishes this by having three compulsory courses that teach the big theories in both corporate finance and investment analysis.

• Students can still specialize in either corporate finance or investment analysis through a wide selection of electives, and by their choice of Master’s thesis topic.

Profile of program

Specialized training in Finance• Focus on recent developments in the field• Mix between theory and practice• Many case studies, several guest lectures• Taught by both academics and practitioners• Development of research skills• Many international students• CFA accredited (see further)

Taught the Department of Finance• International group of renowned researchers that

consistently publish intop finance and economics journal.

• Research ranked in top 5 in Europe• Many teachers also part of EBC, Netspar.• Several of our lectures have won teaching awards over the

last years.

Layout of study program (1)

Semester 1• Capital Structure• Investment Analysis• Empirical Methods in Finance (topics in CF/IA)• 2 electives

• Corporate Governance and Restructuring• Corporate Valuation• Investment Analysis of Aging and Pensions• Financial Statement Analysis• Strategic Management

Layout of study program (2)

Semester 2• 2 electives

• Derivative Securities and Risk Management• Financial Markets and Institutions• Treasury Management• Advanced Financial Accounting• Financial Analysis and Investment Behavior.• Entrepreneurial Finance

• Master thesis

Master Finance- CFA

Since September 2009, MiF is a Chartered Financial Analyst (CFA) partner program

Students will have a solid grounding in the CFA Program Candidate Body of Knowledge (CBOK).

CBOK is the foundation of the CFA Program curriculum and it represents the knowledge, skills and abilities that practitioners indicate they need to know to do their jobs well.

Students that are trained in the CBOK in their academic coursework, should be able to earn their CFA charter with less additional time and effort, and should, in fact have higher success rates on these exams.

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Chartered Financial Analyst (CFA)

The Chartered Financial Analyst (CFA) designation required

The Chartered Financial Analyst (CFA) designation strongly preferred

CFA is a plus

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Job ads from one day

What can I do with my CFA title?

Charterholder employment by title

Three exams + 4 years of experience

Charterholder employment by title

CFA track: costs and benefits

Costs:

• Obligation to follow course in Finance Ethics

• Fixed program (no choice in electives)

Benefits

• Excellent preparation for CFA level 1 exam

• Possibility to participate in Global Challenge

• Possibility to win one of five scholarships

• Admission to Tilburg’s CFA events

CFA track

Semester 1

• Capital Structure

• Investment Analysis

• Empirical Methods in Finance

• Corporate Governance and Restructuring

• Financial Statement Analysis

Semester 2

• Financial Analysis and Investor Behavior

• Derivative Securities and Risk Management

• Master’s thesis

Calendar Master

Thesis /Internship

Sept.

Required Course

Elective

Elective

Thesis

Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July

Elective

Required Course

Required Course

Elective

Master Finance: Skills

• Link specialized knowledge, often of a technical nature, to practical economic problems.

• Perform high-level empirical analysis using relevant econometric methods and software (in Excel, STATA).

• Communicate new insights in a clear manner, both in written and oral form.

• Critical attitude to work done by others (existing studies, fellow students) and by your own.

Master’s thesis

Independent piece of academic work• Review of literature and own problem analysis, often involving an

econometric study.

Preparation and writing during second semester• Make sure to start on time! • In first part of second semester you need to work on research proposal.• Optimal path:

• Finished research propsal and allocated supervisor by mid-March• Finished thesis + defence by end of summer (but December at the

latest)

Possibly with an internship (but again: start in time)

Topics of recent Master’s thesis FM

• Company performance after a management buyout: the influence of capital and ownership structure

• Optimal Dividend Policy of a Private Bank (VLB)• Using real options to value R&D intensive products (Fuji

film)• No profit, big bonus: CEO remuneration in the current

crisis. • Is there a link between executive cash compensation

and firm performance?• Many potential topics related to subprime crisis.

Topics of recent Master’s thesis IA

• Socially responsible vs conventional mutual fund investing in the United States: performance, investor behavior and the influence of fund size

• Commonality in liquidity: evidence from the Euronext Exchange• What drives the correlation between stock and bond returns?• Evaluation and analysis of mutual fund performance: evidence from U.S.

mutual funds• The diversification benefits of investing in emerging markets.• The value of alternative investments (real estate, commodities, wine, art,…)

Relevant Bachelor Courses

• Accounting & Finance courses• Mathematics and Statistics• Macro – Micro Economics

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TiSEM Career Services

TiSEM Career Services

Guiding you in your career planning process• Career Advice• Career Workshop• Internships• TiSEM Career Mentor Program

Simone Hofland (K204)Career Services Officer

13 466 4203

s.b.hoflandlokin@tilburguniversity.eduwww.tilburguniversity.edu/studentcareerservices

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TiSEM Alumni Relations

TiSEM Alumni Relations

Alumni are our most important ambassadors and our goal is to continue to support our alumni to succeed in their professional lives by providing opportunities to

- Expand Your Future- Knowledge - Skills - Network

As a student, you can benefit from the experiences of the thousands of alumni in the network

Pam Dupont Alumni Officer013 466 3603

alumni-tisem@tilburguniversity.eduhttp://www.tilburguniversity.edu/alumni-tisem

For top students

Prepare for PhD

Great Rankings

Excellent Funding

International setting

Good Job Opportunities

Top Scholars

Visit us this evening at the Information Market or

at the Meet&Greet, 3 December (by invitation)

Research Master Business or Economics:

23School of Economics and Management

2410-04-2023

Teacher of Economics or Management & organization

From September 2013 3rd years Bachelor’s

students can start with the first 15 ECTS

As of September 2014 the full program starts

More information

www.tilburguniversity.edu/master/lerarenopleiding

prof. van Dalen h.p.vandalen@tilburguniversity.edu

University Teacher Degree

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Questions?

Thank you and good luck!