This finance course will expose learners to the workings of global financial markets, their key institutional features, and the theoretical underpinnings of their design. Topics will include different types of financial securities such as debt, equity, convertible debt, and preferred stocks traded in the market, their relative advantages and disadvantages and the roles of institutions such as banks, credit rating agencies and institutional investors (such as pension funds and activist investors) in these markets.
The course will critically evaluate the risk-return tradeoff inherent in different financial instruments, and how managers should think about using these instruments for their firms. The course will introduce the idea of information asymmetry and conflicts of interests among various stakeholders of the firm and how various financial securities overcome these conflicts. This will be followed by a critical evaluation of recent financial crises within the context of these conflicts.
This course is for learners broadly interested in financial markets, managers working in corporations or institutions and individuals planning to pursue a graduate degree in business (MBA).
Professor of Finance, Ross School of Business
University of Michigan
Amiyatosh Purnanandam is a Professor of Finance at the Ross School of Business (RSB), University of Michigan. Amiyatosh has a PhD from Cornell University, an MBA from the Indian Institute of Management, and a B. Tech. (Electrical Engineering) from the Indian Institute of Technology. Amiyatosh has published extensively on topics related to corporate finance, banking, subprime mortgage crisis, and credit risk in top journals in Finance and Economics. His research provides direct policy implications for banking regulations and financial sector reforms around the world. He currently serves on the Editorial Board of several finance journals.
Amiyatosh has taught extensively a broad range of courses in finance to undergraduates, MBAs, PhDs, and Executives. He has received several teaching awards and award nominations over the years, and he currently teaches some of the most popular finance electives at Ross. Amiyatosh has extensive industry experience in the banking sector through his consulting engagements, and a four-year work stint with a leading bank in India. He loves to play chess and enjoys reading history books.
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