Financial Statements & Reporting
Generally accepted accounting principles, concepts, standards, and practices used in recording business transactions in order to prepare major financial statements such as the balance sheet, income statement, and cash flow statement. Overview of financial statements, financial reporting and financial analysis techniques (horizontal, vertical and ratio analysis), analyzing financing, investing and operating activities, cash flow analysis, return on invested capital, profitability, credit and risk analysis.
Financial Econometrics I
Statistical and Econometric tools used in financial research and decision making. Probability theory, random variables, mathematical expectations, distributions of random variables, distributions used in financial research, sampling, sampling distributions, hypothesis testing, estimation theory, and simple linear and multiple linear regression models. Emphasis on application of statistical and econometric techniques to problems in financial economics.
Introduction to the fundamental financial issues of the corporation. Basic concepts of debt and equity sources of financing and valuation; capital budgeting methods; cash flow forecasting and risk analysis; and the cost of capital. Rigorous analysis of firm's capital structure and dividend policies, overview of the real-world considerations, constraints and risks facing managers.
Quantitative tools and the conceptual knowledge to analyze investments. “Investments” in this course is strictly monetary stakes in financial securities, not real assets or projects. How to best combine various financial instruments to fit the risk/return profile. Trade-off between risk and return, and market efficiency. Financial decision making process of an investor to maximize his wealth and/or minimize his risk. Theoretical models to value financial instruments such as stocks and bonds, how to allocate assets efficiently, how to measure and manage risk.
Ethics in Finance
Widely accepted “Code of Ethics and Standards of Professional Conduct” developed by the CFA Institute. Case studies including well-known finance scandals that markets have been witnessing for decades. Ethical responsibilities of investment professionals and application of ethical codes and standards.
Seminar Series About Financial Institutions
Asset and liability management with a focus on the financial institutions’ balance sheets. Analysis of financial risks in the context of financial crisis. The risks on the balance sheets and how to hedge these risks if they are worth hedging. Effects of political and economic developments on financial markets. Behavior of central banks and their importance.
Advanced Corporate Finance
An intensive analysis of the effects of various corporate financial policy decisions on the value of the firm; effects of taxes, bankruptcy costs and agency costs on corporate financial decisions; the interrelation of financing policy with executive compensation, mergers and acquisitions, leasing, hedging and payout policies.
Governance of Financial Markets and Institutions
The theory of financial intermediation and the structure of financial markets; interest rates and security valuation; central banking system and monetary policy; securities markets including money, capital and foreign exchange markets; commercial banking; investment banks, insurance companies, mutual funds and pension funds.
Change Management in Finance
The evolution of the Turkish banking sector from mid-1850s to today. Projections about potential directions of the banking sector. Case studies and articles from the print media.
Managing financial price risk with derivative. The costs and benefits of derivative instruments such as, forwards, futures, options and swap contracts to change the risk exposure of corporations and financial intermediaries with applications in international markets.
Corporate Strategy and Risk Management
Generating insightful understanding of risk at the decision level of budgeting, strategic planning, capital structure, investment/divestments. An approach to and implementation of financial risk management for industrial firms.
Macroeconomic Analysis for Management
Effects of macroeconomic policies such as fiscal, monetary, and foreign exchange on business. Causes and consequences of inflation and unemployment. Economic growth and technological progress. Open economy, international flow of goods and capital, exchange rates.
Valuation and Corporate Restructuring
Creating value through corporate restructuring and examining how various types of restructurings impact creditors, shareholders, employees and other stakeholders. Topics covered include quantitative background on corporate valuation methodologies; application of these methodologies to value creation through restructurings such as mergers and acquisitions, bankruptcy reorganizations and workouts, corporate spin-offs, targeted stock offerings, and employee buyouts.
Techniques available to assist the investor in making the risk/return trade-off; principles of modern portfolio theory; asset pricing under the capital asset pricing model and the arbitrage pricing model; asset allocation; use of derivative securities in portfolio insurance; valuation of fixed income securities and interest rate risk management in fixed income portfolios; and assessing investment performance.
Private Equity Finance
The private equity industry and particularly the venture capital market. Applying the theoretical frameworks used in corporate finance to analyze activities and institutions in the private equity market. The key institutional features of the private equity industry. How institutions and contracts are structured to mitigate agency costs and information problems that are endemic to private equity investments. Focus on the structure of contracts and institutions in the venture capital market. Private equity investments in mature and distressed companies. Valuation process in a private equity setting. Valuation techniques used by private equity investors to demonstrate how the value of private equity investments is inextricably linked to the cash flow and control rights provided to investors and entrepreneur/manager of the firms.
Bank Financial Management
Differences between banks, other financial intermediaries, and securities markets as sources of corporate financing; unique aspects of banks as financial intermediaries; bank contracts, their pricing and management with respect to interest rates, inflation and credit risk; measures of interest rate risk and hedging techniques; securitization of bank assets; reasons for the rapidly growing importance of non-bank sources of funds for corporations, and implications for the future of the banking industry.
Examination and evaluation of the developments in Turkish economy using the basic economic concepts and tools. Investigation of the post-1980 Turkish economy, with emphasis on current policy issues and future prospects.