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課程名稱 |
行為財務學
Behavioral Finance |
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開課學期 |
106-2 |
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授課對象 |
管理學院 財務金融學研究所 |
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授課教師 |
張晏誠 |
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課號 |
Fin7066 |
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課程識別碼 |
723EM2160 |
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班次 |
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學分 |
3.0 |
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全/半年 |
半年 |
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必/選修 |
選修 |
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上課時間 |
星期二7,8,9(14:20~17:20) |
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上課地點 |
管一204 |
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備註 |
本課程以英語授課。
限碩士班以上
總人數上限：40人 |
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Ceiba 課程網頁 |
http://ceiba.ntu.edu.tw/1062bf |
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課程簡介影片 |
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核心能力關聯 |
核心能力與課程規劃關聯圖 |
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課程大綱
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課程概述 |
This is a graduate-level course that surveys academic advances in the field of behavioral finance. This course involves intensive reading, lectures, student presentation of academic paper, and a final project. The targeted students for this course are PhD students in related fields or master's students with an interest in further studies.
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課程目標 |
Traditional neoclassical finance theory relies on investors having rational expectations and frictionless markets. In this setting, markets are efficient such that assets are fairly priced. However, empirical evidence including the recent 2008 Financial Crisis suggests challenges to this traditional paradigm.
This course seeks to survey academic works in the field now known as "behavioral finance." The common theme in behavioral finance is the incorporation of more realistic assumptions regarding human rationality, market imperfections, and social forces. We show that limitations on human rationality leads to overtrading and asset bubbles; market imperfection such as short-sale constraints contribute to asset over-valuation and stock market crashes; and how these effects can in turn affect corporate decisions. |
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課程要求 |
Lectures
Final Exam
Paper Presentations |
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預期每週課後學習時數 |
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Office Hours |
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指定閱讀 |
待補 |
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參考書目 |
待補 |
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評量方式
(僅供參考) |
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No. |
項目 |
百分比 |
說明 |
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1. |
Final Exam |
50% |
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2. |
Paper Presentations |
50% |
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週次 |
日期 |
單元主題 |
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第1週 |
2/27 |
Introduction
Neoclassical Finance: EMH and CAPM |
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第2週 |
3/06 |
Neoclassical Finance: EMH and CAPM
Excess Predictability Tests |
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第3週 |
3/13 |
Quasi-Experiments |
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第4週 |
3/20 |
Quasi-Experiments |
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第5週 |
3/27 |
Quasi-Experiments
Limits to Arbitrage |
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第6週 |
4/03 |
No Class |
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第7週 |
4/10 |
Limits to Arbitrage |
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第8週 |
4/17 |
Investor Psychology |
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第9週 |
4/24 |
Investor Psychology |
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第10週 |
5/01 |
Investor Psychology |
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第11週 |
5/08 |
Are Smarter Markets Better Markets? |
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第12週 |
5/15 |
Disagreement |
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第13週 |
5/22 |
Disagreement |
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第14週 |
5/29 |
Disagreement |
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第15週 |
6/05 |
Behavioral Corporate Finance |
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