Aligning with the NUCB Business School's mission to cultivate innovative leaders with a global perspective and the ability to think critically and creatively, this course empowers students to develop a deep understanding of financial management theories and their practical applications. By emphasizing creative problem-solving, strategic analysis, and an exploratory approach to real-world financial challenges, students will build the skills needed to navigate complex financial environments, make informed decisions, and drive value creation in their future careers.

This course is essential for individuals aspiring to excel in the dynamic field of financial analysis and management. It provides a comprehensive exploration of the principles that govern financial markets, from foundational concepts such as the risk-return trade-off to advanced strategies like portfolio optimisation and risk management. Through detailed case studies and real-world scenarios, students will gain practical experience in applying theoretical frameworks such as the Capital Asset Pricing Model (CAPM), the Efficient Frontier, and the Arbitrage Pricing Theory (APT). This hands-on approach ensures that participants not only learn the theories but also master their implementation in the context of financial decision-making, asset management, and strategic portfolio design.

By the end of this course, students will have a well-rounded understanding of key financial concepts, including asset correlations, portfolio management, and asset pricing models. The course covers both the theoretical foundations and practical applications, enabling students to critically analyse financial data, construct optimised portfolios, and apply asset pricing models such as CAPM and APT in real-world financial settings. This dual focus on theory and practice equips students with the skills necessary to interpret and respond to the complexities of modern financial markets, preparing them for successful careers in finance, investment, and risk management.

*本学の教育ミッションを具現化する形で設定されています。

After completing the course, participants are expected to demonstrate the following skills and knowledge:

1 - Risk and Return Analysis Competence: Ability to critically assess the relationship between risk and return in various investment scenarios. Participants will learn to analyze investment returns using probabilistic methods and gain insights into the dynamics of risk and return, enabling them to make data-driven investment decisions.

2 - Asset Correlation Analysis Skills: Proficiency in evaluating asset correlations and their implications for portfolio management. Participants will develop advanced skills in analyzing how different assets move in relation to each other and how these correlations impact portfolio risk and diversification strategies, using quantitative techniques and real-world case studies.

3 - Portfolio Theory Application and Optimization: Expertise in applying foundational portfolio theories and optimization techniques. Participants will gain a deep understanding of the Efficient Frontier and will learn to design and optimize portfolios that balance risk and return. They will acquire practical experience in constructing portfolios for diverse market conditions, leveraging tools and models to achieve optimal results.

4 - Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT) Application: Mastery of both the Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Theory (APT) for assessing the expected returns of assets based on their systematic risk and multiple risk factors, respectively. Participants will learn to apply CAPM in real-world financial contexts, using historical market data to estimate risk-adjusted returns and make informed investment recommendations. Additionally, they will explore the APT framework, which extends beyond CAPM by incorporating various risk factors to explain asset returns, and learn how to apply APT in practical investment scenarios.

5 - Quantitative and Strategic Financial Decision-Making: Capability to integrate quantitative analysis with strategic decision-making in financial contexts. Participants will enhance their ability to use quantitative models, such as portfolio optimization and CAPM, to inform strategic financial decisions, including asset allocation, risk management, and performance evaluation.

6 - Effective Communication of Financial Insights: Skill in effectively communicating complex financial analyses and insights to both technical and non-technical audiences. Participants will learn to construct clear and concise reports and presentations, articulating key findings and their implications for financial strategy and decision-making.

7 - Practical Experience with Real-World Financial Cases: Practical understanding of applying financial theories and models to real-world scenarios. Through case studies involving actual companies and market data, participants will gain hands-on experience in solving complex financial problems related to asset pricing, portfolio management, and risk assessment.

These learning outcomes will prepare participants for careers in finance, investment management, risk analysis, and financial consulting, where advanced analytical skills and practical decision-making abilities are essential.

教育手法 Teaching Method		% of Course Time
インプット型 Traditional		30 %
参加者中心型 Participant-Centered Learning	ケースメソッド Case Method	70 %
	フィールドメソッド Field Method	0 %
合計 Total		100 %

Course Prerequisites

1 - Before taking this course, participants are highly recommended to have a basic understanding of statistical and linear regression topics, such as mean and variance, correlation coefficients, covariance, hypothesis testing, and regression analysis. These topics are covered in previous NUCB courses, including Introduction to BBA and Business Statistics. For those who have not yet studied these topics, relevant content can be found in the related chapters of the following book. We encourage participants to review this material in advance of the course start:

https://2012books.lardbucket.org/books/beginning-statistics/

2 - As part of the coursework, each participant will need to have access to a laptop equipped with the specified financial management analysis software, Microsoft Excel, to ensure active participation in hands-on exercises, financial modelling, and case study analysis.

3 - It is recommended that participants spend at least 3 hours preparing for each case, including reviewing the fundamental knowledge provided in the casebook. Participants seeking deeper insights may read the relevant chapters of the textbook, but the course will primarily be based on the content in the casebook.

Class Discussion

1 - The course is designed to be highly interactive, with class discussions playing a pivotal role in reinforcing financial management concepts. Through these discussions, participants will connect theoretical knowledge with practical financial decision-making.

2 - Core concepts, analytical frameworks, and the intricacies of financial case studies will be dissected collaboratively in class. The instructor will guide participants through the analytical processes essential for financial decision-making and problem-solving.

Feedback Methods

1 - The course will feature regular quizzes to assess participant progress, with feedback provided to improve learning outcomes and ensure mastery of concepts.

2 - Constructive feedback will be a cornerstone of the learning experience, offering chances for one-on-one consultations with the instructor. During these sessions, participants can discuss their individual progress, seek clarification on any doubts, and obtain personalized guidance.

*成績は下記該当項目を基に決定されます。
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。

講師用内規準拠 Method of Assessment	Weights
コールドコール Cold Call	0 %
授業内での挙手発言 Class Contribution	40 %
クラス貢献度合計 Class Contribution Total	40 %
予習レポート Preparation Report	20 %
小テスト Quizzes / Tests	0 %
シミュレーション成績 Simulation	0 %
ケース試験 Case Exam	0 %
最終レポート Final Report	40 %
期末試験 Final Exam	0 %
参加者による相互評価 Peer Assessment	0 %
合計 Total	100 %

評価の留意事項　Notes on Evaluation Criteria

• Zvi Bodie, Alex Kane and Alan Marcus「Essentials of Investments」McGraw-Hill（2022）
• Chris Brooks「Introductory Econometrics for Finance」Cambridge University Press（2019）

The textbooks are intended for reference use. Previous versions of the textbooks are also acceptable for use in this course.

The course structure and content will be refined and updated based on feedback and recommendations from previous participants.

（実務経験 Work experience）

Refereed Articles

• (2026) Policy Transmission in the Construction Value Chain: Evidence from Higher-Order Co-Moments and Network Analysis (2010-2025). Engineering, Construction and Architectural Management
• (2026) Spillover Effects of EU Climate Policy on Global Financial Systems: Evidence from the Emissions Trading Scheme. Sustainable Development
• (2025) Green Credit Guidelines and Financial Resilience: Implications for green innovation in heavily polluting enterprises. Journal of Environmental Management
• (2024) Variance dynamics and term structure of the natural gas market. Energy Economics
• (2024) Eco-Financial Dynamics: How Green Finance and Renewable Energy Are Shaping a New Economic Era. NUCB Business Review