• colmas building
  • colmas building
  • colmas

Ph.D. PROGRAMME IN BANKING AND FINANCE

Ph.D. PROGRAMME IN BANKING AND FINANCE

 

FIN 911            ADVANCED THEORY OF CORPORATE FINANCE                               3Units

The course treats at the theoretical level the conceptual foundations of funds allocation among assets and assets classes, and analyses the effects of various corporate financial policy decisions (e.g capital structure and dividends policies) on the value of the firm.  It also includes analysis of the effects of taxes, bankrupting costs, and agency costs on these decisions.  The analysis is conducted successively under the assumptions of perfect and imperfect markets, and certainty and uncertainty conditions.  In addition it covers recent literature with emphasis on mathematical techniques which have been used to solve problems in portfolio theory, multi period assert pricing models and option pricing models.  Financial leverage, market efficiency and information economics, term structure models, capital market equilibrium models corporate finance issues.  Readings are drawn almost exclusively from the theoretical literature of corporate finance.

CMS 911         ADVANCED ECONOMETRICS                                                                        3Units

                        ( Details in the Department of Economics)

FIN 912            CONTEMPORARY ISSUES IN FINANCE                                              3Unit

This is targeted towards addressing emerging issues in theoretical and empirical literature in Finance. Globalization and finance, world financial crises and contagion effects, world trade organization and international finance, etc

FIN 913            RESEARCH SEMINAR IN FINANCE I                                                               1 Unit

Candidates will be required to make at least a seminar presentation in Finance.  Each student will be required to produce a manuscript in the usual journal format on the topic under investigation.  For these candidates, a sound literature review and development of relevant mathematical models or techniques of analysis related to their research topics will be acceptable. Such seminar papers should be acceptable for publication in peer-reviewed national or international journals.

BUS 913          ADVANCED RESEARCH METHODOLOGY                                          3Units

The course utilizes advanced research techniques to explore problems in Banking and Finance.  In addition, the course teaches students the use of advanced research techniques to investigate empirical issues in Banking and Finance.  Some of the topics to be covered, among others include advance research designs, qualitative and quantitative methods of research, advance measurement scale, multidimensional scaling, complex sampling approaches, meta analysis, structural equation modeling in Banking and Finance, cojoint analysis.  Specifically, the course aims to expose students to contemporary but not common, research methods that are relevant for understanding and solving general business management problems.  Students are to be exposed to scholarly works in journals and textbooks utilizing relevant advanced research techniques.

FIN 915            ADVANCED COMMODITY EXCHANGE AND MARKETS                               3Units

History of commodity markets and trends,; futures market; futures market history and trends; contracts- types; margin Account; Orders-types of orders; Exchanges- FOREX, ASCE, Other Exchanges; Regulatory environment, SEC, . Trading strategies and Charting: Fundamental Analysis and Technical Analysis,; Options Markets, Derivatives, Options pricing, Interest rate futures, Exchange rate futures, Index Futures Contracts, Price Risk Management Strategies, careers in commodities and futures .

FIN 916            ADVANCED PUBLIC SECTOR FINANCIAL MANAGEMENT               3Units

This covers the procedure for estimation and control of government expenditure and the raising of revenue; estimation of expenditure, authorization of expenditure and accounting processes for planning public expenditure; efficiency of government expenditure; measurement of ‘efficiency’ of government expenditure; objective functions of government expenditure; the planning programming Budgeting system and other budgeting systems as am approach to cost effectiveness appraisal of government expenditure.  Also included are: the multi-nature of public sector – federal state and local authorities ad the financial relationship between government units; fiscal federalism, local government finance; rates, borrowing, federal/state grants, commercial activities; the systems of federal/states grants and changes overtime; the central of local authority expenditure: current and capital, its planning and control; pricing and investment problems, accosting and financial control in public owned enterprises.

FIN 917            ADVANCED RISK MANAGEMENT AND INSURANCE                                   3Units

Structure of the Nigerian Insurance market.Insurance statistics. Financial Management and control in the Insurance business. Reinsurance in developing economies .Depth of the Nigerian Insurance Industry.Risk management and risk reduction through Portfolio diversification.Application of linear programming and actuarial science techniques to various aspects of the Insurance business. Health Insurance, Medical Insurance. Air travel Insurance, Oil and Gas Insurance

FIN 921            ADVANCED PORTFOLIO THEORY AND MANAGEMENT                  3Units

This course provides an advanced treatment of investment portfolio theories; computer enhanced models used to provide instruction in capital asset portfolio management and technique.  Advanced treatment of diversification theories and applications in asset selection, analysis, and management and risk management are extensively discussed.

 

BAF 921       ADVANCED THEORY OF FINANCIAL INTERMEDIATION AND BANK MANAGEMENT                                                                                            3Units

This is a more advanced and theoretical treatment of selected topics covered at the Master’s degree levels.   Issues are dealt with in more details, bringing in relevant empirical analysis and proffering future directions of research with seminar papers prepared and presented on specify topics.

FIN 922            EMPIRICAL INVESTIGATIONS IN FINANCE                                       3Units

Market efficiency tests term structure theory test, test of asset pricing models test of divided policy and financial structure issues.  Topics focus on statistical and methodological problems encountered in empirical research in related areas of economics and accounting.

Candidates will be required to make at least a seminar presentation under this.  The first seminar presentation is the thesis proposal if the approved proposal is completed.  The second seminar presentation will emphasize the actual results of the students research work. These presentations will precede the final defense

BAF 923           CONTEMPORARY ISSUES IN BANKING                                             3Units

This is targeted at addressing emerging issues in theoretical and empirical literature in Banking.

FIN 924    ADVANCED FINANCIAL MARKETSAND INSTITUTIONS                           3Units

The course covers advanced topics in the financial system, embracing banks, non-bank financial institutions, money and capital markets and the regulatory authorities- the Central Bank, the Securities and Exchange Commission, the Stock Exchange, survey of the structure and operation of the market for short, medium, and long term securities.  Other topics include overview of the nature, types, sources and uses of term securities as well as the nature, objectives, structure, functions, and practices of institutions, such as the stock exchange. Islamic Financial banking.Credit analysis.Marketing of financial services.The measurement of performance and reconciliation of profit.

BUS 925          ADVANCED QUANTITATIVE DECISION TECHNIQUES                      3Units

It is designed to provide students the opportunity to explore more advanced quantitative techniques for decision-making in general and research in particular.  Emphasis will be on:  quantitative methodologies in business, export, commerce and international business, multivariate statistical methods, advance topics in optimizing techniques and stochastic models; application of time series, Inbox Number, other vital statistics to issues in business studies.Inbox Number, other vital statistics to issues in business studies.

In addition, it covers techniques of mathematical programming as applied in finance-the development of an intuitive appreciation of the techniques as opposed to rigorous mathematical derivation, illustration of the application in financial analysis-to be accomplished via a computer-assessed case, analysis and/or journal articles.

BAF 925 EMPIRICAL INVESTIGATIONS IN BANKING                                                                        3Units

Market efficiency tests, term structure theory test, market, structure, and financial structure issues.  Topics focus on statistical and methodological problems encountered in empirical research in related areas of finance, economics and accounting.Candidates will be required to make at least one seminar presentation.  The first seminar presentation is the thesis proposal if the approved proposal is completed.  The second seminar if considered absolutely necessary will emphasize the actual results of the students research work.

                                               POST GRADUATE PROGRAMMES COURSE DESCRIPTION

M.Sc.   PROGRAMME BANKING AND FINANCE

CORPORATE FINANCE

The nature of the firm and corporate objectives:  Implementation of the firms’ goals for choice among alternative investment projects, capital budgeting problems, market evaluation of  assets under uncertainty and implication for capital budgeting, analysis and illustration with problems of alternative investment criteria, alternative approaches to value of the firm and the cost of capital; discussion of corporate financial problems; e.g. leasing,  mergers and acquisitions, and issuance of new securities.

THEORY OF FINANCIAL INTERMEDIATION

The course analyzes financial markets conceptually and theoretically, emphasizing the role, structure and activities of financial intermediaries. The dynamic pattern of financial flows is analyzed by flour of funds, and uses/sources of funds, model of the process of financial intermediation and the theory of the banking firm.  The crucial role of interest rate and structure of interest rates are analyzed.  Also analyzed are the regulatory framework and its impact on banking operations, market structure and performance of the financial intermediation functions of the institutions.

MARKETING OF FINANCIAL SERVICES

The course covers the nature, characteristics and consequences of financial services, and consequently, the need for products to be marketed in a special way.  It is to enable students to skillfully apply marketing concepts, functions, strategies and techniques, for efficient provision of banking financial services.  It also requires background knowledge of banking theory and practice for effective application of marketing principles to enhance financial services delivery at profit.

INTERNATIONAL BANKING AND FINANCE

Topics covered include; overview of the global financial system, foreign exchange market, national banking and financial markets, Euro-banks and euro financing, international trade financing; international financial institutions and financial integration in ECOWAS and Africa; problems of developing countries in the international financial system and markets, reform of the international financial system; external borrowing, debt and debt servicing problems; foreign aid and foreign direct investment; Nigeria and international trading, payments and financial issues in the context of the changing global financial developments.

INVESTMENT ANALYSES AND PORTFOLIO MANAGEMENT

The study covers portfolio selection as a problem of constrained utility maximization under conditions of uncertainty; Discussion of the different markets, along empirical evidence for validity of the theory; activities involved in making selection among alternative financial assets from the viewpoints of individuals and institutional investors; implications of the efficient market theory for the profitability of alternative investment; valuation of financial statements and analysis.

The empirical evidence for various mean variance models of assets for evaluating portfolio performance should be emphasized.

BASIC ECONOMETRICS

In this introduction to Econometrics covers, topics to be covered include: the study of the specification of econometric models in economics and finance theory, stochastic disturbances, and the link between conceptual variables and observable economic data are combined.  Other topics include: estimation of single equation linear; non-linear models by Ordinary Least squares (OLS) and other methods and estimation of time-series models and simultaneous equation models.  Particular attention is given to specifications of problems and errors, and the application of the various tools to aid analysis in finance.

MANAGEMENT OF FINANCIAL INSTITUTIONS

The course is concerned with financial management of banks and other financial institutions. The management decision making problems in the course view, the financial firm as having goals of maximizing returns on assets subject to the constraints of the funds model,  the maintenance of solvency, the capital adequacy problem and demands of the regulatory authorities.  Also covered are the analysis of various issues and problems common to many financial intermediaries, such as corporate planning and control in financial institutions; competition for funds, assets and liability management, marketing of financial services, the measurement of performance, and the reconciliation of profit objectives with public relations and social obligations.  Case studies are expected be employed in illustrating typical real issues.

INTERNATIONAL BUSINESS FINANCE

 It covers overview of the international financial system; international banking and financial market, including the foreign exchange risks and management practices by international business; Euro – banks and Euro-financing; Financing methods in international trade; international, financial management, capital budgeting, project finance, and transfer pricing by multinational corporations, foreign direct investment, multilateral investment guarantee and investment codes; intentional business operations in the context of changing global financial developments.

DERIVATIVE SECURITIES AND MARKETS

The rapid and extreme development in financial services industry demand that graduates in fiancé be exposed to financial innovations in recent years.  The course in derivatives and markets fulfills these requirements.  The course introduces the students to the concepts, types, operations and regulatory framework of financial derivative markets.  It covers traded options, futures/future contracts, forwards, swaps, derivatives exchange and traded systems.

REGULATIONS OF FINANCIAL INSTITUTIONS

An advanced treatment of fiscal and monetary policy issue; in respect of economic stabilization measures. The instruments and targets of fiscal and monetary policies and theory impacts on macroeconomic aggregates including unemployment, income levels, inflation etc. regulatory institutions in domestic and international economic environment such as the CBN, NDIC/FDIC, IMF etc. as they affect national and international economic development.

BANK LENDING AND LOAN ADMINISTRATION

The course is designed to expose students to the basic principles of lending and credit administration.  It covers topics in bank credit organizations, the lending environment and financial statements analysis.  Others are sectorial forms of lending such as commercial lending, consumer lending and credit administration.   The course involves course work and case studies.

MICRO AND SMALL BUSINESS FINANCE

The course covers the problem of provision of micro-credit and the financial problems of small business in the economy.  Topics covered include:  sources, acquisition and use of capital by small businesses; financial analysis relating to income, repayment of capital and risk management, leasing and other finance alternatives, the role of small business in the economy, required government assistance, how micro-credit can be effectively provided and the provision of finance by credit institutions as well as the non-financial components to make finance be productively employed.

FINANCIAL PLANNING AND CONTROL

The course emphasizes basic concepts and analytical tools essential for financial decision making and in understanding of the market environment in which the firm operate.  Possible topics include the concepts organizational goals and the selection and preparation of information essential to financial planning and control of firms operations such as cost estimation and analysis, cost volume profit analysis, budgeting and budgetary control, variance analysis and cost allocation.

FINANCIAL INSTITUTIONS AND MARKETS

The course covers: overview of the financial system, embracing banks, non-bank financial institutions, money and capital markets and the regulatory authorities- the Central Bank, the Securities and Exchange Commission, the Stock Exchange, survey of the structure and operation of the market for short, medium, and long term securities.  Other topics include overview of the nature, types, sources and uses of term securities as well as the nature, objectives, structure, functions, and practices of institutions, such as the stock exchange, investment banking, insurance and pension institutions as well as international finance institution as well as international finance institutions.  The other aspects include:  economics and legal aspects of the capital market, analysis of interest rates, cost of capital, prices of securities, risk in securities operations and their implications for investment and performance of the financial operators.

THEORY OF FINANCE

Conceptual Foundations- Money, credit and Finance.Expected Utility Theory.Theory of the Firm, Risk, Return and Market Equilibrium.Financing Decisions. Capital structured Theories. Cost of Capital and Optimal Capital structure. Efficient Market Theories.Random-walk Hypotheses.Dividend Policies and Valuation of the firm.Portfolio models and Empirical Evidence/ Theories of Financial Distress. Mergers, Acquisitions and Reorganizations

M.Sc. SEMINARS IN FINANCE

This seminar introduces students to the most recent research in the area of Finance and Investment, examining current issues and trends.  Students have an opportunity to present and discuss their own research and actively engage in the analysis and discussion of the work of others.  Each student is expected to make at least one presentation during the course, focusing on the formulation, design, execution, and result of his/her research

                                                       Ph.D PROGRAMME IN BANKING AND FINANCE

ADVANCED QUANTITATIVE DECISION TECHNIQUES

It is designed to provide students the opportunity to explore more advanced quantitative techniques for decision-making in general and research in particular.  Emphasis will be on:  quantitative methodologies in business, export, commerce and international business, multivariate statistical methods, advance topics in optimizing techniques and stochastic models; application of time series, Inbox Number, other vital statistics to issues in business studies.

Inbox Number, other vital statistics to issues in business studies.

In addition, it covers techniques of mathematical programming as applied in finance-the development of an intuitive appreciation of the techniques as opposed to rigorous mathematical derivation, illustration of the application in financial analysis-to be accomplished via a computer-assessed case, analysis and/or journal articles.

ADVANCED THEORY OF CORPORATE FINANCE

The course treats at the theoretical level the conceptual foundations of funds allocation among assets and assets classes, and analyses the effects of various corporate financial policy decisions (e.g capital structure and dividends policies) on the value of the firm.  It also includes analysis of the effects of taxes, bankrupting costs, and agency costs on these decisions.  The analysis is conducted successively under the assumptions of perfect and imperfect markets, and certainty and uncertainty conditions.  In addition it covers recent literature with emphasis on mathematical techniques which have been used to solve problems in portfolio theory, multi period assert pricing models and option pricing models.  Financial leverage, market efficiency and information economics, term structure models, capital market equilibrium models corporate finance issues.  Reading are drawn almost exclusively from the theoretical literature of corporate finance.

ADVANCED PORTFOLIO THEORY AND MANAGEMENT

This course provides an advanced treatment of investment portfolio theories; computer enhanced models used to provide instruction in capital asset portfolio management and technique.  Advanced treatment of diversification theories and applications in asset selection, analysis, and management and risk management are extensively discussed.

ADVANCED PUBLIC SECTOR FINANCIAL MANAGEMENT

This covers the procedure for estimation and control of government expenditure and the raising of revenue; estimation of expenditure, authorization of expenditure and accounting processes for planning public expenditure; efficiency of government expenditure; measurement of ‘efficiency’ of government expenditure; objective functions of government expenditure; the planning programming Budgeting system and other budgeting systems as am approach to cost effectiveness appraisal of government expenditure.  Also included are: the multi-nature of public sector – federal state and local authorities ad the financial relationship between government units; fiscal federalism, local government finance; rates, borrowing, federal/state grants, commercial activities; the systems of federal/states grants and changes overtime; the central of local authority expenditure: current and capital, its planning and control; pricing and investment problems, accosting and financial control in public owned enterprises.

ADVANCED THEORY OF FINANCIAL INTERMEDIATION

This is a more advanced and theoretical treatment of selected topics covered at the masters degree levels.   Issues are dealt with in more details, bringing in relevant empirical analysis and proffering future directions of research with seminar papers prepared and presented on specify topics.

ADVANCED INTERNATIONAL BUSINESS FINANCE

 It covers advanced aspects of the international financial system; international banking and financial market, including the foreign exchange risks and management practices by international business; Euro – banks and Euro-financing; Financing methods in international trade; international, financial management, capital budgeting, project finance, and transfer pricing by multinational corporations, foreign direct investment, multilateral investment guarantee and investment codes; intentional business operations in the context of changing global financial developments. Word Bank, IBRD,IFC, IMF,ADB,ECOWAS,EORO,EUROASIA

EMPIRICAL INVESTIGATIONS IN FINANCE

Market efficiency tests term structure theory test, test of asset pricing models test of divided policy and financial structure issues.  Topics focus on statistical and methodological problems encountered in empirical research in related areas of economics and accounting.

ADVANCE RESEARCH METHODOLOGY

The course utilizes advanced research techniques to explore problems in Banking and Finance.  In addition, the course teaches students the use of advanced research techniques to investigate empirical issues in Banking and Finance.  Some of the topics to be covered, among others include advance research designs, qualitative and quantitative methods of research, advance measurement scale, multidimensional scaling, complex sampling approaches, meta analysis, structural equation modeling in Banking and Finance, cojoint analysis.  Specifically, the course aims to expose students to contemporary but not common, research methods that are relevant for understanding and solving general business management problems.  Students are to be exposed to scholarly works in journals and textbooks utilizing relevant advanced research techniques.

ADVANCED FINANCIAL INSTITUTIONS AND MARKETS

The course covers advanced topics in the financial system, embracing banks, non-bank financial institutions, money and capital markets and the regulatory authorities- the Central Bank, the Securities and Exchange Commission, the Stock Exchange, survey of the structure and operation of the market for short, medium, and long term securities.  Other topics include overview of the nature, types, sources and uses of term securities as well as the nature, objectives, structure, functions, and practices of institutions, such as the stock exchange. Islamic Financial banking.Credit analysis.Marketing of financial services.The measurement of performance and reconciliation of profit.

ADVANCED RISK MANAGEMENT AND INSURANCE

Structure of the Nigerian Insurance market.Insurance statistics. Financial Management and control in the Insurance business. Reinsurance in developing economies .Depth of the Nigerian Insurance Industry.Risk management and risk reduction through Portfolio diversification.Application of linear programming and actuarial science techniques to various aspects of the Insurance business. Health Insurance, Medical Insurance. Air travel Insurance, Oil and Gas Insurance

CONTEMPORARY ISSUES IN FINANCE

This is a seminar to address emerging issues in theoretical and empirical literature in Finance.

CONTEMPORARY ISSUES IN BANKING

This is a seminar to address emerging issues in theoretical and empirical literature in Banking.

PH.D SEMINAR IN FINANCE I

Candidates will be required to make a seminar presentation in Finance.  Each student will be required to produce a manuscript in the usual journal format on the topic under investigation.  For these candidates, a sound literature review and development of relevant mathematical models or techniques of analysis related to their research topics will be acceptable. 

PH.D SEMINAR IN FINANCE I I

Candidates will be required to make a second seminar presentation in Finance.  Each student will be required to produce a manuscript in the usual journal format on the topic under investigation.  For these candidates, a sound literature review and development of relevant mathematical models or techniques of analysis related to their research topics will be acceptable.  Such seminar papers should be acceptable for publication in peer-reviewed national or international journals.

Ph.D. SEMINAR IN FINANCE III

Candidates will be required to make at least two seminars presentations under this.  The first seminar presentation is the thesis proposal if the approved proposal is completed.  The second seminar presentation will emphasize the actual results of the students research work. This will precede the final defense

EMPIRICAL INVESTIGATIONS IN BANKING

Market efficiency tests, term structure theory test, market, structure, and financial structure issues.  Topics focus on statistical and methodological problems encountered in empirical research in related areas of finance, economics and accounting.

Ph.D SEMINAR IN BANKING I

Candidates will be required to make a seminar presentation in Banking.  Each student will be required to produce a manuscript in the usual journal format on the topic under investigation.  For these candidates, a sound literature review and development of relevant mathematical models or techniques of analysis related to their research topics will be acceptable.

PH.D SEMINAR IN BANKINGI I

Candidates will be required to make a second seminar presentation.  Each student will be required to produce a manuscript in the usual journal format on the topic under investigation.  For these candidates, a sound literature review and development of relevant mathematical models or techniques of analysis related to their research topics will be acceptable.  Such seminar papers should be acceptable for publication in peer-reviewed national or international journals.

PH.D. SEMINAR IN BANKING III

Candidates will be required to make at least two seminar presentations.  The first seminar presentation is the thesis proposal if the approved proposal is completed.  The second seminar presentation will emphasize the actual results of the students research work.