Finance Dissertation Topics Corporate Finance The Agency Problem Principals vs Agents Importance of shareholder rights’ protection The link between the agency problem and company’s value The role of Regulation The impact of regulation Corporate finance and existing legislation Project Appraisal The logic behind project appraisal Net Present Value and the NPV rule The Internal Rate of Return (IRR) and project appraisal Simple and Discounted Payback Methods The Profitability index in capital budgeting Time Value of Money Discounting Compounding The concept of annuity Applications of the TVM in corporate finance Financial Statements Analysis Key Financial Statements Ratio Analysis The DuPont Equation Financial models and planning External financing and growth estimation Corporate Valuation The present value of common stock The concept of Free Cash Flows (FCFs) The Dividend Discount Model (DDM) The Discounted Cash Flows (DCF) Approach The residual valuation model Relative valuation model and price comparables Risk Analysis and Capital Budgeting Sensitivity analysis Scenario analysis and break-even analysis Monte-Carlo simulation and capital budgeting The concept of real options Decision trees in capital budgeting Bond Valuation Different types of bonds Bonds and interest rates Determinants of bond yields Cost of Capital and Valuation Equity vs Debt The CAPM and the cost of capital Estimation of beta and the impact of leverage Cost of fixed income securities The Weighted Average Cost of Capital (WACC) estimation Capital Structure The capital structure and the pie theory Optimal capital structure and firm value maximisation Financial leverage and firm value The Modigliani-Miller Proposition and irrelevance of capital structure The impact of taxes on capital policy Limits of Debt Financing Costs of financial distress Tax benefits from debt Signalling and capital policy The Pecking-Order theory Dividend Policy Different theories on a dividend policy Cash dividends vs Stock buybacks Personal taxes and dividend policy The Clientele effect and dividend policy Raising Capital Different sources of capital Stock issuance New issues and stock dilution Issues of long-term debt Preferred vs Common stock Leasing Types of leases Cash flows of leasing Leasing vs Buying NPV valuation of leasing Short-term Financing Cash and Net Working Capital Short-term financial policy Cash management Receivables management Inventory management Mergers & Acquisitions Different forms of acquisitions Costs of acquisitions Benefits from acquisitions The value from mergers The Case of Financial Distress Bankruptcy, liquidation and reorganisation Z-score model and prediction of bankruptcy International Corporate Finance Interest Rate Parity and Fischer Effect International capital budgeting The Impact of Exchange rate and political risk Investment Investment Fundamentals Real vs financial assets The linkages between financial markets Key market players The impact of regulation on the financial market Asset Classes and Financial Instruments Money market and cash instruments Bond markets Equity market and securities Derivative markets Stock and bond market indexes Real estate as an asset class Alternative assets and cryptocurrencies Portfolio Theory The concept of Risk and return Co-movement between securities and portfolio risk The concept of portfolio diversification The Markowitz portfolio diversification model The Capital Market Line (CML) and the Security Market Line (SML) Different approaches to portfolio optimisation The Capital Asset Pricing Model (CAPM) The CAPM overview Assumptions of the CAPM Criticism of the model Evaluation of the CAPM Alternative Pricing Models The Arbitrage Pricing Theory (APT) The Fama-French three-factor model The APT, CAPM and the Index model The Efficient Market Hypothesis (EMH) Randomness and the EMH Implications of the hypothesis Critique of the EMH and deviations from the hypothesis Behavioural Finance The criticism of behavioural theory Technical analysis and behavioural approach in investment Fixed-income Securities Types of fixed-income securities Bond characteristics Liquidity risk and bond prices Interest rate risk and bond prices Default risk and bond prices Maturity and bond returns Interest Rates and the Yield Curve Bond features Bond pricing Bond yields Yield curve Default risk and bond returns Bond Portfolio Theory Interest rate risk Bond duration and convexity Passive bond management and portfolio immunisation Active bond portfolio management Macroeconomic and Industry Analysis Macroeconomic analysis and business cycles Industry analysis Approaches to Equity Valuation Relative Valuation using multiples The Gordon’s Growth Rate and Dividend Discount Model Price/Earnings multiple Free Cash Flow valuation model Derivatives and Hedging Futures, Options and Swaps Hedging using derivatives Futures market strategies Options market strategies Portfolio Performance Evaluation Key metrics of portfolio evaluation Style analysis International Portfolio Diversification Globalisation of equity markets Benefits from international diversification Risks of international portfolio management Active Portfolio Management The concept of optimal alpha The Treynor-Black model The Black-Litterman model Financial Markets Initial Public Offering (IPO) The IPO process The role of underwriters Private Equity (P/E) and Venture Capital Secondary Markets Secondary equity offering The impact of stock dilution Market players Bond Markets Bond securities Key market players The link between monetary policy and the bond market The linkages between bond securities Commodity Markets Energy market Precious metal market Agriculture commodity market Portfolio diversification using commodities Cryptocurrency market Derivatives Futures Futures contracts basics and mechanics of trading Futures market strategies Options The options contract The options strategies The Put-Call Parity Exotic options Swaps Pricing of Derivatives Black-Scholes model and options pricing The binominal tree pricing Implied volatility and options prices Collateralised Debt Obligations (CDOs), Asset-Backed Securities (ABS), Mortgage-Backed Securities (MBS) Securitisation Looking for something specific? 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