Escolar Documentos
Profissional Documentos
Cultura Documentos
ADM4355A
Fall 2016
Professor
Office
DMS2186C
Telephone
E-Mail
Office Hours
Class Location
Mondays: 5:30PM-6:45PM
DMS4170
Class Hours
Tuesdays:
Fridays:
Prerequisite(s)
Program of study
Course Deliverable
11:30AM- 1:00PM
1:00PM 2:30PM
Due Date
Weight on
Final Grade
Check Schedule
20%
Team Project
30%
Participation
20%
Peer Evaluation
Variable
Final exam
TBD (December 9th 22nd, 2016)
30%
Please form groups of 4 in the first class and submit an email to the professor with a team
name, team member list, as well as a main point of contact. The team must be the same
throughout the semester.
Course Description
This course will explore ethical issues specific to the financial sector, ethical decision making,
societal impact of finance decisions, impact of responsible investing, and links among corporate
governance, reporting practices and socially responsible behavior. Students will also learn the
ethical and professional standards as outlined by the CFA Institute within the Code of Ethics
and Standards of Professional Conduct, which is material that is essential in passing the first of
three exams. The class will use lectures, group discussions, case analysis, videos, guest speakers
and student presentations to cover the necessary materials. The class will aim to be as interactive
as possible by taking advantage of the resources within the Financial Research and Learning Lab
such as Bloomberg and Factset, as well as relevant news items as they come out.
Case Rubric:
Identification of
the main and sub
issues/problems
Analysis of the
issues
Comments and
analysis on
effective
solutions/strategies
(alternatives) and
implementation
plan-- The
solution may be in
the case already or
proposed by you
Links to course
content and
additional
research
Level 4
Identifies and
understands all
of the main and
sub issues in
the case study
Insightful and
thorough
analysis of all
the issues
Well
documented,
reasoned and
pedagogically
appropriate
comments on
solutions,
proposals for
solutions
(alternatives),
to all issues in
the case study
as well as a
detailed
implementation
plan
Excellent
research into
the issues with
clearly
documented
links to class
(and/or outside
readings)
Slides are very
well crafted,
get all the main
points across in
a concise and
to the point
manner
Level 3
Identifies and
understands
most of the
main and sub
issues in the
case study.
Thorough
analysis of
most of the
issues
Appropriate,
well thought
out comments
about
solutions,
proposal for
solutions
(alternatives),
to most of the
issues in the
case study as
well as an
implementation
plan
Good research
and
documented
links to the
material read.
Level 2
Identifies and
understands
some of the
issues in the
case study
Level 1
Identifies and
understands
few of the
issues in the
case study
Superficial
analysis of
some of the
issues in the
case
Superficial
and/or
inappropriate
solutions to
some of the
issues in the
case study with
a very broad
implementation
plan
Incomplete
analysis of the
issues
Limited
research and
documented
links to any
readings.
Incomplete
research and
links to any
ready.
Little or no
action
suggested, and
or
inappropriate
solutions to all
of the issues in
the case study
and no
implementation
plan.
Weight
/5
/10
/20
/10
Slides are
Slides are
Slides are
missing some
missing key
poorly created,
key elements
elements and
lack
and fail to
are not concise professionalism
/5
capture all the
and to the
and content to
elements or are point.
make it
not as concise
effective.
as should be.
* Please remember that it is quality over quantity, as a 3 page memo can be much better than a 5 page
one that is strictly restating the facts.
Slides
Company CSR, ESG and Ethical Analysis and Report (30% Report)
As an analyst for a socially responsible investment fund, you understand that your firms goal is
to find and invest in companies that will not only provide financial return but which are socially
conscious and sustainable. Your Portfolio Manager has asked you to select ANY existing public
company and create a report which outlines and analyzes its corporate governance structure,
CSR, ESG and any existing, past or forward looking ethical issues and dilemmas. Once youve
created your profile, and outlined all pertinent issues, you are then to assess the company in these
areas. You should comment on how they are doing, whether there are areas for improvement,
what they are doing or have done in the past to improve, and how they could further improve.
Your final task is to take a stance and decide whether you and your firm should invest in this
company based on your analysis and again providing your reasons as to why or why not. You
can and are encouraged to use some financials to back-up your analysis or recommendations.
Remember, your job is not to find good companies to invest in; it is to create complete profile.
When selecting your company, you may look at companies that have had ethical, social
responsibility or governance issue currently or in the past, or decide to select a company you feel
is exemplary in all areas. You must formulate your own opinions about the company not
take the opinion of someone else.
A good report will look at the below items/topics:
1. Brief Industry Overview and Company History
2. Corporate Governance Structure
a. Complete profile of all relevant factors (see CFA/OSC guidelines)
3. Corporate Social Responsibility/Environmental, Social and Governance (See CFA ESG
Factors)
a. Environmental Concerns
b. Social Concerns
c. Corporate Concerns
d. Disclosures and Regulations
e. Comparison against peers
4. Look at any financial markets impacts (broad market and security specific)
5. Thorough Assessment, Analysis and Recommendations
Information Gathering:
You are encouraged to use Bloomberg, Factset, Capital IQ or an equivalent when gathering
relevant information and data. Some very valuable sources that should be consulted are the
Corporate Governance Guidelines from the CFA Institute and OSC as well as Environmental,
Social and Governance Factors at Listed Companies from the CFA Institute.
You should also collect information from the companys Annual Information Form and
Management Information Circular, news and magazine articles, companys Corporate
Governance Disclosures, Report on Business, or the Clarkson Centre for Business Ethics and
Board Effectiveness.
The Management Librarys Company Information Research Guide can also be a great help in
helping you get started for your research on the company.
Make sure all information is properly sourced.
Additional Details:
Groups of 4 students (same team as all other assignments). No two teams can select the same
company. Companies must be submitted to the professor by September 20th for approval, and are
on a first come basis. It would be suggested to select a top three list of companies in case your
first choice has already been selected.
The report should be no longer than 20 pages (excluding appendices), using 12pt font, 1 inch
margins, and 1.5 spacing.
The report is due in hard copy at the beginning of class on Tuesday November 29th. A soft-copy
must also be sent to the professors email before the start of the same class.
All written reports require ethics statement.
Investment
Recommendation, and
Conclusions
Communication
Grammar, Spelling and
Referencing
Communication
Effective Style and Clarity
Communication Organization
Overall Assessment
4: Exceeds Expectation
3:Meets Expectations
2:Approaching Expectations
1:Below Expectations
Information is presented in a
manner that is confusing and
hard to follow because it lacks
structure, clarity, and a logical
flow
Information is presented in a
very well organized manner,
with an effective and clear
introduction and conclusion,
smooth transitions, and a
logical sequence of
arguments
Weighting
5
15
25
20
10
10
100
Points
Course Attendance
Course attendance is mandatory and critical to receiving full participation marks. Attendance
will be taken each class. Should you need to miss a class, you must inform the professor with the
reason why you will be absent at least 24 hours before class. Only approved absences will not
result in lost participation for the class. Should you miss a class, it is your responsibility to find
what you missed from another student. I will not repeat material that was gone over in class
during office hours because that student missed a class. Each unexcused missed class will result
in a 2% loss of participation up to 10%.
Course Preparation
Please come to class prepared. This means you are to read all related course readings assigned
for the week (chapters, articles, cases) prior to class and be prepared to contribute when called
upon. You will benefit greatly from having read and learned some of the theory/cases/articles
prior to class, and it will also allow you to absorb the lecture material. Class time will be meant
as a review of some of these concepts, and a time for group discussions (we will function almost
as a semi-flipped classroom). Slides, notes and discussion in classes cover basic concept from the
materials, they should not be substitutes for reading and understanding of textbook and required
reading materials. By being prepared, you are improving everyones learning environment.
Please be respectful to the class, the guest speakers and the professor. As a function of this, use
of cell phones is not permitted during class. Use of laptops and computers in the lab are
also only to be used for either note taking, or as requested by the professor, not surfing the
web/social media.
Textbook/Course Package
Required Text
Investment Ethics, Peck, 1st Edition, Wiley
*Can be purchased from the bookstore or electronically.
Required Case Pack
You will be required to purchase a case pack directly from Ivey Publishing. You must create an
account with them if you do not already have one (click register or log in on
www.iveycases.com) and then go to the following link and add to cart and then checkout:
https://www.iveycases.com/CoursepackView.aspx?id=10179
You are free to choose the digital or print version. Download as soon as possible, as you will
only have access to do so for 30 days.
Required Readings and Other Reference Materials (Available free on CFA Website):
Ethical and Professional Standards: Study Session 1, (CFA Institute, 2015)
Standards of Practices Handbook, 11th Edition, (CFA Institute, 2014)
The Corporate Governance of Listed Companies: A Manual for Investors, (CFA Institute, 2009)
Environmental, Social and Governance Factors at Listed Companies: A Manual for Investors,
(CFA Institute, 2008)
Global Investment Performance Standards, (CFA Institute, 2010)
Theories of Corporate Governance: The Philosophical Foundations of Corporate Governance,
Clarke, Routledge
Articles:
Articles, videos, and other unmarked cases for discussion will be made available on Blackboard
at least 1 week before the session for which they will be used.
Relevant Movies
The Wolf of Wall Street (2013)
Margin Call (2011)
Inside Job (2010)
Enron: The Smartest Guys in the Room (2005)
Boiler Room (2000)
Rogue Trader (1999)
The Insider (1999)
Barbarians at the Gate (1993)
Wall Street (1987)
Trading Places (1983)
Recommended Books for Leisurely Reading
When Genius Failed, Roger Lowenstein, Random House
Liars Poker, Michael Lewis, Penguin Books
Den of Thieves, James B. Stewart, Simon & Schuster Paperbacks
Course Schedule
**Class schedule and content may be modified and adjusted to accommodate guest speakers
and real-time news events. This outline will be only be used as a starting point and notice will be
given when there is to be a change in the schedule and content.
Class
Date
Topic
Readings
Due
Peck, Ch. 1
CFA Ethical Decision Making
Model
Case Discussion
Friday, September
9, 2016
Tuesday,
September 13,
2016
Friday, September
16, 2016
Peck, Ch. 2
Tuesday,
September 20,
2016
Friday, September
23, 2016
Peck, Ch. 3
Tuesday,
September 27,
2016
Friday, September
30, 2016
Peck, Ch. 4, 5
Tuesday, October
4, 2016
Peck, Ch. 6
Friday, October 7,
2016
Peck, Ch. 7
10
Tuesday, October
11, 2016
11
Peck, Ch. 8
Company
Name
Case 1
Report +
Slide Deck
Case 2
Report +
Slide Deck
12
Tuesday October
18, 2016
Peck, Ch. 8
13
Speaker Prep
Tuesday October
25, 2016
Reading Week
Reading Week
Tuesday November
1, 2016
15
Friday November 4,
2016
Code of Ethics
Standards of Practices Handbook:
Standard I
Speaker Prep
Speaker Prep
16
17
18
Tuesday November
8, 2016
Friday November
11, 2016
Tuesday November
15, 2016
19
Friday November
18, 2016
20
Tuesday November
22, 2016
21
Friday November
25, 2016
22
Tuesday November
29, 2016
Case Discussion
23
Friday December 2,
2016
24
Tuesday December
6, 2016
Ethics Wrap-Up
Case 3
Report +
Slide Deck
Case 4
Report +
Slide Deck
Final
Project +
Slide Deck
The Telfer School of Management does not tolerate academic fraud. Please familiarize
yourself with the guidance provided at: http://web5.uottawa.ca/mcssmc/academicintegrity/home.php
The Telfer School of Management asks that students sign and submit with their deliverables the
Personal Ethics Agreement form. Two versions of this form exist: one for individual
assignments, and one for group submissions. Assignments will not be accepted or marked if
this form is not submitted and signed by all authors of the work. We hope that by making
this personal commitment, all students will understand the importance the School places on
maintaining the highest standards of academic integrity.
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