Business Administration – Finance and Investment

Seminar Finance and Investment

Advanced module in Finance and Investment

The assignment of topics is expected to begin in the course of September. There is no limitation of the number of participants.

Module description

Learning Outcomes

The students examine international research approaches, thus developing the ability to understand challenging research papers, to analyse them thoroughly and to present them in a comprehensible manner. The knowledge they gain enables them to evaluate and discuss research work and to carry out their own independent scientific work.


The seminar focuses on a range of topics from finance research. Within this framework, analytically demanding international research papers are examined, presented and discussed.

Further Information

  • Responsible person: Professor Dr. Hirth
  • Course language: german
  • Module number: 70226
  • Credits: 2 SWS / 6 CP
  • Offer: every semester
  • Registration at the chair required
  • Portfolio examination (term paper, presentation, participation in discussion in the final seminar)
  • Compulsory elective module for master's programs in Industrial Engineering and Management, Industrial Economics, Industrial and Network Economics and Business Mathematics

Winter semester 2023/24


All information can be found in the ISIS course Seminar zur Finanzierung und Investition [WiSe 23/24]. Please register there if you are interested.


Topic 1

Markowitz, H. (1952). Portfolio Selection. The Journal of Finance, 7(1), 77-91.

Supervisor: Jannis Harder


Topic 2

MacKinlay, C. A. (1997). Event Studies in Economics and Finance. Journal of Economic Literature, 35(1), 13–39.

Supervisor: Thomas Bernstein


Topic 3

Kahneman, DanieI and Amos Tversky (1979). Prospect Theory: An Analysis of Decision Under Risk. Econometrica 47, 263-291.

Supervisor: Felix Reichenbach


Topic 4

Tversky, Amos and Daniel Kahneman (1992). Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty 5 (1992), 297-323.

Betreuer: Felix Reichenbach

Editing notes

The topics are usually based on a model-theoretical approach. Disclose the respective construction of the model as well as the essential economic effect chains and statements. Only with this goal in mind, formal derivations should be understood. Be especially careful not to merely translate the text. Instead, you should read the article, understand it, and then reproduce it in your own words in German in a way that is easy to follow. Independent work is desired.

Here you will find important information: Form term papers (in german)


The evaluation of the term paper forms the "A grade". The "B grade" is obtained during the oral presentation/participation. A- and B-grade determine the overall grade in the ratio 4 to 1. If the A grade is insufficient, so that overall passing of the seminar is ruled out, the seminar participants concerned will not be invited to the seminar.

Dates, registering and deregistering


Registering until Friday, November 3, 2023 in Moses after prior registration and topic assignment at the chair.

Submission of the term paper until Friday, November 10, 2023 in the ISIS course Seminar zur Finanzierung und Investition [WiSe 23/24].

Seminar date: Friday, December 1, 2023, start: 10 a.m, room H 6173

Registration and topic assignment

1. Registering for a topic at the chair:

Registration and topic allocation will take place immediately by sending an e-mail to our administration office, indicating the desired topic. As soon as there are two registrations for one topic, the list for this topic will be closed for the time being, so that only one registration for the other topics is possible.

2.  Registering via Moses:

After the topic has been assigned, an additional registration must be made with Moses (MTS). This is binding for participation. There you will be finally admitted by us to the seminar.

3.   Deadline for registering:

Registering until on 11/03/2023


Deregistering until 11/09/23 by email to us and via Moses (MTS). From 11/10/23 submit the withdrawal form including reasons by e-mail to us and the Examinations Unit. Evidence of the reason for withdrawal (medical certificate or substitute certificate from a doctor for certificate of incapacity for work) must be received by your examination team no later than five days after the deadline. There, a decision will be made on the recognition of the withdrawal.

Contact persons

Responsible person and examiner

Professor Dr. Hans Hirth is the head of the Chair of Finance and Investment. He is responsible for the module and the associated examinations.

Organizational questions

For organizational questions, e.g. regarding registering and deregistering, appointments, certificates, etc., please contact our administration office.

Content-related questions

If you have questions about a topic, please contact the supervising assistant.

Study programs

The Seminar Finance and Investment is a compulsory elective module for the following study programs:

The module can be included in all degree programs, e.g. as an elective or additional module. It is not subject to any restrictions or prerequisites.