Prior Knowledge and Courses:
- International Finance course recommended but not necessary
- Principles of Science course recommended but not necessary
- Data Analytics & Statistics recommended but not necessary
Day | Date | Time | Room |
---|---|---|---|
Monday | 02/28/22 | 04:00 PM - 08:00 PM | Online-Einheit |
Tuesday | 03/08/22 | 11:00 AM - 04:00 PM | TC.3.05 |
Tuesday | 03/15/22 | 11:00 AM - 04:00 PM | TC.3.05 |
Tuesday | 03/29/22 | 11:00 AM - 04:00 PM | TC.3.05 |
Tuesday | 04/05/22 | 11:00 AM - 04:00 PM | TC.3.05 |
Tuesday | 04/26/22 | 12:00 PM - 05:00 PM | D3.0.233 |
Thursday | 05/05/22 | 02:00 PM - 06:00 PM | TC.0.01 ERSTE |
International risk management and Reporting
o Risk terminology, theory & measurement
o Risk management instruments
o Operative risk management 1 (foreign exchange risks)
o Operative risk management 2 (interest rate risks, commodity risks, political risk)
o Organization of risk management (agency theory, hedging practice)
o Strategic risk management 2 (diversification, real options, project finance)
• Overview of tasks of risk managers in international companies
• Overview of risk management mechanisms
• Overview of risk management instruments
• Case studies
- Practical insights into day-to-day risk management
- Applying theoretical knowledge to real-life risk management
- Critically analysing corporate structures in risk management
• Scientific presentation
- Knowledge of state-of-the-art empirical research on risk management
- Knowledge of empirical methods
The course is designed as a distance course. The first part (basics) is hybrid combining asynchronous lecturecasts and synchronous online teaching and the second part (application) is synchronous virtual meetings in which students present scientifc research.
Students are not allowed to be absent more than 20% of the synchronous lecture time.
Seminar in two parts:
• Basics & theory
o Instructor lecture casts
o Student teaching case studies
o Exam
• Application and research
o Case study discussions
o Competitive student presentations on scientific research readers
Prior Knowledge and Courses:
Please use the learn@wu Forum for administrative communication!
Dr. Jakob Müllner
Institute for International Business (D1 3. floor)
Department of Global Business and Trade
Telephone: +43-1-313 36-4374
E-Mail: jakob.muellner@wu.ac.at
Can Tihanyi
Institute for International Business (Gebäude D1 5. Stock)
Department of Global Business and Trade
Telefon: +43-1-313 36-4326
E-Mail: can.tihanyi@wu.ac.at
Attention: the selection of scientific articles for groups can vary from one semester to another and may change on short notice.
Unit | Date | Contents |
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1 | 28.02.2022 | Introductory session 28.02.2022 16:00-20:00 (online synchronous) is shared between both courses 5253 & 5256 Instructor: Jakob Müllner |
2 | Theory session 1 asynchronous lecture Cast Instructor: Jakob Müllner |
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3 | 08.03.2022 | Case session 1 08.03.2022 11:00-16:00 TC.3.05 Instructor: Jakob Müllner Case 1: Zeidan, R. & Rodrigues, B. 2012. The failure of risk management for nonfinancial companies in the context of the financial crisis: lessons from Aracruz Celulose and hedging with derivatives. Applied Financial Economics, 23(3): 241-50.
The case will be discussed in class. In addition, student groups have to write a case essay. The essay should relate to the case but more broadly address the organization of risk management in companies from · A theoretical point of view (theories) · Empirical point of view (academic research papers) · Practical point of view (examples from practice)
The case essay should be max of 6 pages (single space, size 12, excluding graphs, references & cover page)
The case essay must be uploaded by 28.03.2022 (23:59). Late submissions will receive a 40% grade penalty. |
4 | Theory session 2 asynchronous lecture Cast Instructor: Jakob Müllner Foreign exchange risk management I Interest rate risk management Commodity risk management
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5 | 15.03.2022 | Case session 2 15.03.2022 11:00-16:00 TC.3.05 Instructor: Jakob Müllner Calculations Q&A Case 2: Students should read the case. In class, we will discuss the case and we will engage in a broader discussion on foreign exchange risk in the automotive industry. For this discussion, students are advised to conduct research ahead of the session. Further information will be provided on learn. |
6 | Online | Theory session 3 asynchronous lecture Cast Instructor: Jakob Müllner Lecturecast - Political risk Political risk management Strategic Risk Management
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7 | 29.03.2022 | Presentation session 1 29.03.2022 11:00-16:00 TC.3.05 Instructor: Can Tihanyi 12:00 Group 2 - Carter, D. A., Rogers, D. A., & Simkins, B. J. 2006. Hedging and Value in the U.S. Airline Industry. Journal of Applied Corporate Finance, 18(4): 21-33. 13:00 Group 3 - Délèze, F. & Korkeamäki, T. 2018. Interest rate risk management with debt issues: Evidence from Europe. Journal of Financial Stability, 36: 1-11. 14:00 Group 4 - Müllner, J. 2016. From uncertainty to risk—A risk management framework for market entry. Journal of World Business, 51(5): 800-14. |
8 | 05.04.2022 | Presentation session 2 05.04.2022 11:00-16:00 TC.3.05 Instructor: Can Tihanyi Groups present in a competitive way. 12:00 Group 6 - Zeidan, R. & Müllner, J. 2015. Firm, market and top management antecedents of speculation: Lessons for corporate governance. Journal of Multinational Financial Management, 32(December): 42–58. 13:00 Group 7 - Servaes, H., Tamayo, A., & Tufano, P. 2009. The theory and practice of corporate risk management. Journal of applied corporate finance, 21(4): 60-78. 14:00 Group 8 - Bartram, S. M. 2019. Corporate hedging and speculation with derivatives. Journal of Corporate Finance, 57: 9-34. |
9 | 26.04.2022 | Guest speaker 26.04.2022 12:00-17:00 D3.0.233 Instructor: Jakob Müllner & Can Tihanyi |
10 | 05.05.2022 | Final Exam 05.05.2022 14:00-18:00 TC.0.01 ERSTE Hörsaal Instructors: Can Tihanyi |