BASIC INFORMATION ABOUT THE COURSE

Title:      Human Resource Management

Credit Rating: 6

Prerequisites:     There are no prerequisites

Instructor:          Dr. Irene Tsachouridi

Teaching Methods: Interactive teaching

Consultation Time/Tutorials:      upon request

Contact email:   etsachouridi@aueb.gr

AIM OF THE COURSE

Every business aims to achieve its goals. Human resource management is a necessary precondition for this. The human resources of a company can contribute significantly to the acquisition of competitive advantage within a company and can play a significant role for the management of a company's costs. In today's era, Human Resource Management (HRM) faces many challenges. The purpose of this module is to familiarize students with the basic principles and key issues of Human Resource Management aspiring to equip students with knowledge that will be useful in case they pursue a career in the field of human resources or in case they engage in other branches of business administration. Understanding human resource issues is necessary for every business executive and every employee.

STUDY AND ATTENDANCE

The module uses a range of different teaching methods with the aim of theoretical and experiential understanding of HR. Short lectures, case studies, reflections, as well as discussions, are the educational methods on which the lessons will be structured.

LEARNING OUTCOMES

Upon completion of the course students will be able to:

Recognize the importance of HR as a key management function that reduces costs and increases employee performance.

Deal with problems related to the staffing, training and development of employees, and the evaluation of their performance.

Apply the HR principles and techniques taught in the course to discuss important personnel issues and find solutions.

RECOMMENDED READING

Martocchio, J.J. (2023) Διαχείριση Ανθρωπίνου Δυναμικού, Εκδόσεις Τζιόλα.

Gold, M. & Smith, C. (2022). Where's the ‘Human’ in Human Resource Management?: Managing Work in the 21st Century. Bristol University Press and Policy Press. ISBN: 9781529213799.

Recommended Textbooks:

Παπαλεξανδρή, Ν. & Μπουραντάς, Δ. (2016). Διοίκηση ανθρώπινου δυναμικού. Εκδόσεις Μπένου.

Hall, C.; Torrington, D.; & Taylor, S. (2017). Human Resource Management. 10th ed , Pearson

Wilton, N. (2016). Introduction to Human Resource Management. 3rd ed., Sage

SYLLABUS

1)     Introduction to Human Resource Management- Role and importance of HR

2)     HR planning and resourcing- Recruitment and selection of personnel

3)     Training and development-Identification of educational needs- Training methods- Evaluation of educational programs

4)      Employee performance- Performance Management- Performance evaluation

5)     Rewards and Benefits

6)     Diversity-Equity-Justice

7)     Quality of employee-employer relationship-Employee attitudes and behaviors

8)     Revision

EVALUATION

The evaluation of the module is based on written exams (50%) and an assignment (group of 4 people with personal reflection, 50%). Attendance at classes and active participation are considered extremely important.

BASIC INFORMATION ABOUT THE COURSE

Title: Marketing Management    

Credit Rating: 5 ECTS

Prerequisites: There are not any prerequisites.   

Instructor: Kostis Indounas         

Teaching Methods: The course is taught once per week through a three-hours lecture.

Consultation Time/Tutorials: Monday 18.00-20.00          

Contact email: indounas@aueb.gr           

AIM OF THE COURSE

The basic aim of the course is to describe the meaning and contribution of marketing within a business along with the procedure that is required in order to make strategic marketing decisions and design marketing plans. More specifically, the course aims to help students:  

• Understand the marketing philosophy,

• Become familiar with the concept of marketing management, and

• Comprehend all the tools that are necessitated in order to make strategic marketing decisions and design marketing plans.

STUDY AND ATTENDANCE

The achievement of the course aim is ensured through lectures, discussions and interactive activities during these lectures, case studies and presentations made by students. Personal study is also a fundamental part of the course.

LEARNING OUTCOMES

After completing the course, students will be able to understand:

• The concepts of marketing philosophy and marketing management,

• The marketing strategy tools, and

• The stages of designing a marketing plan.

RECOMMENDED READING

Kotler P. and Keller, K.L. (latest edition), Marketing Management, Prentice Hall, New Jersey.

SYLLABUS

• Stages of strategic marketing planning, 

• Process of designing a plan,

• Contemporary issues in marketing,

• Analysis of the company’s internal and external environment,

• Market research,

• Description of marketing objectives and strategies,

• Segmentation targeting, positioning, 

• Product policy,

• Pricing policy, 

• Distribution policy, 

• Communication policy, and

• Implementation and control of the marketing strategy.

EVALUATION

Students’ evaluation is based on:

·        Written individual exam that will take place at the end of the course (50% of the final grade).

·        Group assignment that is related to the participation in a marketing simulation game (50% of the final grade).

BASIC INFORMATION ABOUT THE COURSE

Title: Business Analytics

Credit Rating: 5

Prerequisites: None       

Instructor: Xenia Mamakou        

Teaching Methods: Weekly 3-hour lecture

Consultation Time/Tutorials: Tuesday 10.00-11.00          

Contact email:   xenia@aueb.gr

AIM OF THE COURSE

The course aims to train postgraduate students in data analytics for business applications, utilizing Excel and Power BI Desktop for analyzing large and diverse data sets. Students will learn about the capabilities of these tools, process different data sets, apply advanced analyses, and learn ways to visualize results in reports & dashboards. The course offers direct contact with real situations and business problems, developing useful skills for professional work.

STUDY AND ATTENDANCE

The educational material is covered in lectures, with mandatory attendance for a thorough understanding. Personal study is a crucial part of the learning process, supplemented by application solutions using computers.

LEARNING OUTCOMES

Upon completing the course, students will understand IT terminology, work according to personal data security laws, comprehend the benefits of business analytics in decision-making, and analyze business data using Excel & Power BI.

RECOMMENDED READING

·        Papathanasiou E.A. and Mamakou X.I., EXCEL: Data Analysis & Business Applications, AUEB Publications, Athens 2022, ISBN: 978-618-83313-8-9

·        Course notes

SYLLABUS

TECHNOLOGICAL DEVELOPMENTS AND APPLICATIONS IN BUSINESS

GDPR

INTRODUCTION TO BUSINESS ANALYTICS

• Meaning and utility

• Categories and tools

• Business usage and new trends

DATA MANAGEMENT IN EXCEL

• Data lists

• Classification

• Conditional Formatting

• Simple functions

• Automatic and complex filter

• Naming areas & cells

FUNCTIONS

• Mathematical functions (SUM, INT, ROUND, MROUND etc.)

• Statistical functions (AVERAGE, COUNT, COUNTA, MIN, MAX etc.)

• Logical functions (AND, OR, NOT, IF etc.)

• Text functions (UPPER, LOWER, PROPER, TRIM, CONCATENATE, etc.)

• Time functions (NOW, TODAY, YEAR etc.)

• Database functions (DSUM, DAVERAGE etc.)

• Search and reference functions (LOOKUP, INDEX, XLOOKUP etc.)

GRAPHIC ILLUSTRATION

• Create, edit and format graphs

• Different kinds of graphics

• Plotting different data on the same graph

STATISTICAL DATA ANALYSIS

• Database functions

• Descriptive statistics

• Frequency distribution

• Correlation

• Simple and multiple regression

• Forecasting

ASSEMBLY TABLES

• Create, edit and format pivot tables

• Grouping of data

• Connection with slicers and timelines

• Graphical representations from a pivot table

INTRODUCTION TO POWER BI

• Features of Power BI

• Import data from other sources

• Different data views (report, data, model)

POWER BI CHARTS

• Create graphs with Power BI

DATA PROCESSING

• Filters

• Transform data with the Power Query tool

• Calculated Columns

• Calculated Tables

COMPLETE EXAMPLES

• Step-by-step examples of creating Reports & Dashboards

EVALUATION

Assessment will be based on assignments (30%) and exams (70%)

BASIC INFORMATION ABOUT THE COURSE

Title: Financial Management

Credit Rating: 5 credit units

Prerequisites:     No prerequisites

Instructor: Dr. Maria-Eleni Agoraki, Associate Professor

Teaching Methods: The course is taught once a week with a three-hour lecture.

Consultation Time/Tutorials:     

Contact email:   magoraki@aueb.gr

AIM OF THE COURSE

The Financial Management course aims to provide an educational platform focusing on the Evaluation and Financing of Investor Decisions. Given the breadth of the subject, the educational material is divided into six complementary sections, through which the postgraduate students understand the use of alternative financial tools and the evaluation of the relevant investment decisions at the company level.

Initially, through a brief overview, the basic concepts of Finance and the evaluation criteria of Investment Decisions are presented as well as all sources of financing (shares, bonds, bank loans). The next two sections focus on the valuation of stocks and bonds, while emphasis is given on the analysis and estimation of the Weighted Average Cost of Capital and the capital structure of the business. Finally, returns are distinguished and risk categories are analyzed.

STUDY AND ATTENDANCE

The educational material of the course is covered in the lectures. Students' attendance at lectures is mandatory.  Personal study is an essential and important part of the educational process.

LEARNING OUTCOMES

Upon completion of the course students will be able to:

1. evaluate and apply techniques for choosing between alternative investments;

2. evaluate and apply appropriate methods for short- and long-term resource allocation;

3. evaluate different methods of risk management and their inclusion in the decision-making process.

RECOMMENDED READING

Basic Textbooks

• Brooks, R. (2023). Financial Management, 1st Greek edition, Athens: Kritiki Publications.

• Drakos, A.A. and Karathanasis, G. A. (2017). Financial Management, 2nd edition, Athens: E. Benou Publications.

Textbooks in English

• Brigham, E. F., and Ehrhardt, M. C. (2013). Financial Management: Theory & practice. 15th Edition, Cengage Learning.

• Brealey, R. A., Myers, S. C., and Allen, F. (2012). Principles of corporate finance. 12th Edition, McGraw-Hill Education.

• Ross, S. A., Westerfield, R. W., and Jaffe, J. F. (2016). Corporate Finance. 11th Edition, McGraw-Hill Education.

• Bodie, Z., Kane, A., and Marcus, A. J. (2012). Essentials of Investments. 9th Edition. McGraw-Hill.

SYLLABUS

1. Investment evaluation criteria (continued from IRR, PV, FV)

               • Free Cash Flows and special cases

               • Evaluation of Investments under uncertainty (Uncertainty, Sensitivity Analysis)

2. Analysis of Sources of Financing

                       • IPOs

                       • Bank Loans (investment/working capital),

                       • Issuance of Bonds (Zero, Coupon)

3. Bonds (valuation, duration)

4. Shares (types, valuation)

5. Analysis and estimation of the Cost of Capital (Cost of Debt and Cost of Equity, Weighted Average Cost of Capital)

6. Capital structure, Risk and Cost of Capital (its use in investment appraisal and decision-making), Required Return and Expected Return, Business Risk, Xategories of risk (Systematic Risk/Specific Risk)

EVALUATION
Students will be evaluated as follows.

20% exercises

80% final exam

BASIC INFORMATION ABOUT THE COURSE

Title: Business Strategy

Credit Rating: 5 ECTS

Prerequisites: None

Instructor: Prof. Vassilis Papadakis

Teaching Methods:

Consultation Time/Tutorials: Monday 13:30-14:30

Contact email: vpap@aueb.gr; 210 8203272

AIM OF THE COURSE

The course focuses on the enterprise as a whole and its main objective is to integrate knowledge and experiences students have acquired during their postgraduate studies. It aims to offer students a framework to identify and respond to the strategic challenges our businesses face. In addition, the course will approach the basic methods/techniques/approaches to the formulation and implementation of strategy. Almost always behind a successful business there exists a unique strategy.

We will examine how an organization can position itself against the forces of the market, to influence them in its benefit, as well as how an organization can strategically innovate to ‘change the rules of the game’ in its market. We will also study how an organization must create core competences necessary to achieve, sustain and improve its position in the market. Finally, we will focus on how these strategic choices are ‘intertwined’ with the day to day activities of the organization, so as to create an entity capable of adjusting to the challenges of today and tomorrow.

As part of the course, students will be given the opportunity to implement their knowledge and skills, playing one of the best ‘Business strategy games’ available globally. Is a PC-based exercise, modeled to reflect the real-world character of the globally competitive athletic footwear industry and structured so that students run a company in head-to-head competition against companies run by other class members. All aspects of The Business Strategy Game closely mirror the competitive functioning of the real-world athletic footwear market. The Business Strategy Game puts students in a situation where they and their co-managers can apply what they have learned in the strategy course and other management courses.

The main goals of the Business Strategy Game are:

• To help students better understand not only the various functions but also the overall strategy and course of a company

• To guide students into how to tackle and solve problems related to the formulation of strategy, the financial aspects, marketing, sales, production and human resource management.

• To help students understand in a simple and understandable manner the importance of a number of basic business elements in the determination of the end results

• To help students understand and develop the necessary skills that will enable them to function effectively as members of a management team.

STUDY AND ATTENDANCE

This course evolves through conversation based on specific case studies (e.g. Swatch, Disney, Marvel., Nokia). During the various sessions we will also discuss several case studies of Greek companies (e.g. Alpha Bank, Delta, Fage, 3E, Titan, Delta Dairy etc).

LEARNING OUTCOMES

After successfully completing the course, students will be able to:

• understand how to craft and implement strategy, given a number of alternative strategic options (choices include: in which areas should we diversify, in which products/services should we expand, how we are going to implement this expansion, are we going to acquire, merge, or form an alliance with another business).

• Better understand how to use the methods and techniques of strategic analysis, as well as to acknowledge their advantages and disadvantages.

• Develop understanding on how to build and sustain competitive advantage.

• Evaluate and choose among various strategies (e.g. growth strategies, competitive strategies),

• To better understand the importance of strategy implementation

• To Realize what type of structure, systems, people, a company needs to successfully implement a chosen strategy.

• To spot and discuss the most common strategic mistakes taking place, and to offer participants ideas as to how to avoid them.

RECOMMENDED READING

GREEK

Papadakis V. ‘Business Strategy: Theory and Case Studies’, Benos Publishing, September 2023.

ENGLISH

• Thompson, A.A., M.A. Peteraf, J.E. Gamble and A.J. Strickland III, Crafting and Executing Strategy: Concepts and Cases, 23rd edition, McGraw-Hill, 2022.

• Grant, R.M., Contemporary Strategy Analysis, Wiley, 11th edition, 2022.

• Whittington, R., P. Renger, D. Angwin, G. Johnson, K. Scholes, Exploring Strategy Pearson, 12th Edition, 2020.

In addition, students will be given the necessary case studies as well as additional material from popular strategy magazines.

SYLLABUS

The course comprises of the following modules:

1. How to analyze the external environment of the company: (Structural Analysis of Industries Strategic, Groups, Scenario Planning)

2. How to exploit and build resources and capabilities needed to achieve, maintain and improve the firms market positioning (strategy as the creation of dynamic capabilities)

3. How to direct the company into the future (mission/vision/strategic intent)

4. How to make a strategic choice, given several alternative strategic options (choices include: in which areas should we diversify, in which products/services should we expand, how are we going to implement this expansion, are we going to acquire, merge, form an alliance with another business).

5. How to build and sustain competitive advantage (Porter’s Generic Competitive Strategies, Value Disciplines, Strategy Clock)

6. What type of structure, systems, people, does a company need to successfully implement a chosen strategy (McKinsey’s 7S’s).

7. How to make better strategic decisions and how to avoid the hidden traps that lead to erroneous decisions.

8. How can we strategically innovate and change the rules of the game in our own industry or a new industry.

The course will provide frameworks for identifying the challenges of different competitive environments. Our final aim is to help students understand how to build a strategically responsive organization by tuning systems, structures and people to strategy, and how to effectively manage the process of strategizing.

EVALUATION

There will be an open book examination. Exams require knowledge of the material covered and critical thinking. Your final grade will depend on:

Class Participation 15%

Strategy Game 25%

Individual Assignment 10%

Final Examination 50%

BASIC INFORMATION ABOUT THE COURSE

Title: Sustainability Reporting

Credit Rating: 5

Prerequisites:     There are no prerequisites

Instructor: SANDRA COHEN

Teaching Methods: A 3-hour lecture once a week

Consultation Time/Tutorials:      Please consult eclass

Contact email:   scohen@aueb.gr

AIM OF THE COURSE

The purpose of the course is to familiarize students with the importance of environmental, social and corporate governance factors on sustainability and sustainable development and to provide knowledge about the new forms of non-financial reporting that now accompany financial reports in both the public and the private sector.

STUDY AND ATTENDANCE

The course will include lectures and in-class visits of private and public sector executives who will describe the philosophy and the way the sustainable development reports are drafted within their organization context.

LEARNING OUTCOMES
Upon the completion of the course, the students will be :

·        aware of the importance of non-financial information as a complementary source of information to financial data,

·        acquainted with the new non-financial information systems in the private and public sector and

·        able to assess the challenges related to sustainable development information.

RECOMMENDED READING

- Suggested bibliography:

As this a very new topic, , the bibliography will be finalized before the beginning of the course

- Related academic journals:

European Accounting Review

Sustainability Accounting, Management and Policy Journal

SYLLABUS

The course will include the following modules:

·        Introduction to non-financial information – ESG reporting

·        The sustainable development goals of the United Nations (SDGs)

·        Sustainability information and standards

o   European Sustainability Reporting Directive

o   International Sustainability Standards

o   Global Reporting Initiative (GRI)

·        EU Taxonomy

·        ESG reporting in practice

·        Assurance issues of non-financial statements

·        Problems in the preparation of non-financial reports - Differences in the purposes of authors and recipients – Greenwashing

·        Sustainable Development and public sector

·        Green Budgeting/Gender Budgeting

EVALUATION

Students’ assessment will be based on the following.

·        35% group assignment and presentation

·        65% final written exams

BASIC INFORMATION ABOUT THE COURSE

Title: Applications on Corporate Finance :Analysis and Case Studies

Credit Rating:

Prerequisites:     Financial Management, Accounting

Instructor: A.A.Drakos  

Teaching Methods: In person

Consultation Time/Tutorials: Tuesday to Thursday, 12.00-18.00

Contact email:   a.drakos@otenet.gr, adrakos@aueb.gr , 6945291883     

AIM OF THE COURSE

The course focuses on contemporary issues associated to, critical and high added value, financial topics across all the constituents of the corporate ecosystem (Industries, Services, Financial sector). Following a comprehensive view on the aspects of Financial Management, students will meet contemporary Investment Banking issues, such as Working Capital management, corporate and credit risk and hybrid financing options, for corporations and investment projects. Workshops in selective real case studies, using the Microsoft excel as a business toll, will offer a better understanding of these sensitive corporate financial applications.

STUDY AND ATTENDANCE

-        3hr duration Lectures in the classroom

-        Work-paper on selective topics, with financial applications on real cases

LEARNING OUTCOMES

On completion of the course, students will be able to :

·        Understand the importance of the cost of capital and the methods applied for its calculation for investment decisions and corporate valuation.

·        Understand the importance of the working capital management and the use as an internal financing mechanism for the corporations

·        Detecting the elements of business risk and calculate the probability of default for corporations and projects

·        Designing hybrid financing schemes, for corporations and projects, under different market conditions  

RECOMMENDED READING

·        Principles of Corporate Finance,  Brealey-Μyers-Allen, 2022, 2018, McGraw Hill

• Financial Management for Corporations, (A.A.Drakos, G.A Karathanassis), 2019, Ε. Benou, [ISBN 978-960-359-098-9]

·        Lecture Notes and Case Studies

SYLLABUS

• Notion and methods for calculating the cost of capital for corporations and investment decisions (risk/expected/required return, WACC)

• Fundamentals in working capital Management (traditional financing, Receivables, Payables, Stocks, Factoring/Leasing).

• Modelling the Business and Credit Risk (Corporate Default Scoring Analysis/ Forecasting-Credit Risk Scoring/Probability of Default Analysis and Forecasting)

• Alternative financing sources for corporations and investment projects (Private Equities, Hybrid Bank financing, Securitization, Convertible bonds, Mezzanine financing, Crowd Funding)

EVALUATION

·        Final Exam Paper 60%

·        Work-Paper 40%

BASIC INFORMATION ABOUT THE COURSE

Title:      Leadership skills and performance management

Credit Rating:

Prerequisites:    

Instructor: Anastasios Magoutas, Associate Professor, National and Kapodistrian University of Athens (EKPA)

Alexandros Papalexandris, Associate Professor, Athens University of Economics and Business (AUEB) 

Teaching Methods: The course is taught once a week with a three-hour lecture.

Consultation Time/Tutorials:     

Contact email:   Anastasios Magoutas: amagoutas@ba.uoa.gr Alexandros Papalexandris: alexp@aueb.gr

AIM OF THE COURSE

The modern business/organization is a complex and dynamic entity, the management of which requires leaders who understand management science in depth as well as possess a set of core skills, including but not limited to strategic thinking, thorough planning, digital transformation, understanding of team psychodynamics, product and value chain management, and an understanding of the key business drivers that impact business effectiveness and efficiency.

The aim of the course is to make the link between leadership and performance management: leadership requires vision, balance and foresight while performance management requires knowledge of processes, methods and appropriate policies for the business situation.

In the context we have described, leadership plays a very important role. With regard to the leadership module, the course aims at understanding the basic features of leadership, the types of leadership, the approaches of leaders, as well as the similarities and differences between a leader and a manager of a company. Reference is also made to the evolution of leadership and the need to create teams of individuals, which should be able to develop the individual's sense of leadership and, accordingly, the leadership characteristics present in each individual. Finally, the importance of the role of the leader in determining the objectives of the company and the interdependent relationship of interaction between the leader and the members of the company are also formulated.

With regard to performance management, it is noted that the concept refers to modern methods and tools that companies follow in order to meet their objectives in an optimal way. In this context, the course analyses ways, methodologies and tools used to measure and manage the performance of modern businesses, such as Goal setting tools and Management by Objectives methods, techniques for effective performance appraisal and ways of transition from appraisal to Performance Management. It also examines the different components of business performance (financial, customer, internal processes, learning and development.

STUDY AND ATTENDANCE

The educational material is covered in the lectures of the course. The lectures include a presentation of the theoretical framework and discussions on it, case study analyses and the projection of audiovisual material. Student attendance at lectures is compulsory and is the recommended method for optimal understanding of the course topics. Finally, the personal study of the educational material by the students is an essential part that completes the learning process.

LEARNING OUTCOMES

Upon completion of the course, students will be able to:

1.        Evaluate leadership models applied at the international and local levels.

2.        Understand the role of the leader in the implementation of business operations.

3.        Distinguish between different types of leaders and leadership styles.

4.        Understand in depth the concepts of effective appraisal and performance management.

5.        Effectively evaluate their subordinates and thereby help motivate them.

6.        Contribute to the establishment of a positive appraisal culture in the organization.

RECOMMENDED READING

Bibliography – Indicative literature

1.      Daft, R. Management, Thomson South-Western (latest edition)

2.      Armstrong, M. (2017). Armstrong's handbook of performance management: An evidence-based guide to delivering high performance. Kogan Page Publishers (6th edition)

  Bibliography – Indicative research articles

1.      Coutu, D. L. (2004). Putting Leaders on the Couch. Harvard Business Review, Harvard Business School Publication Corp. 82: 64-71.

2.      Goleman, D. (2000). Leadership that gets results. Harvard Business Review 78(2): 78-+.

3.      Goleman, D. (2004). What makes a leader? Harvard Business Review 82(1): 82-+.

4.      Goleman, D., R. Boyatzis, et al. (2001). Primal leadership - The hidden driver of great performance. Harvard Business Review 79(11): 42-

5.      Hamel, G. (2011). First, let’s fire all the managers. Harvard Business Review, 89(12): 48-60.

6.      Mayer, J. D., D. Goleman, et al. (2004). "Leading by feel." Harvard Business Review 82(1):27

7.      Williams, R. S. (2002). Managing employee performance. Design and implementation. London: Thomson Learning

8.      Smither, J. W., & London, M. (2009). Performance management: Putting research into action: John Wiley & Sons.

9.      Pulakos, E. D. (2009). Performance management: A new approach for driving business results: John Wiley & Sons.

SYLLABUS

1.        Introduction to leadership theory. The difference between a leader and a manager.

2.        Importance of leadership in the competitiveness and success of the firm.

3.        Approaches and styles of leadership in business and organizations.

4.        Motivational techniques for effective leadership.

5.        Decision making and control techniques for effective leadership.

6.        Theories of performance management.

7.        Performance measurement techniques.

8.        Methods of performance evaluation.

EVALUATION

The assessment of the course will be done by final examinations at a rate of 100%.

BASIC INFORMATION ABOUT THE COURSE

Title:      International Finance

Credit Rating:            6

Prerequisites:     None

Instructor:          Georgios P. Kouretas

Teaching Methods: The class meets once a week for a three-hour lecture.

Consultation Time/Tutorials:     

Contact email:   kouretas@aueb.gr

AIM OF THE COURSE

The aim of this course is to introduce the graduate students in the theory and policy of international finance. In the first part we analyze the basic features of the foreign exchange market as well as of the different types of foreign exchange markets. We also examine the use of foreign exchange for exercising arbitrage, speculation, and hedging. The second part focuses on the presentation of the balance of payments, the current account, and the capital account. In the first part we discuss and analyse the basic characteristics of the exchange rate regimes as well as the selection criteria for the adoption of exchange rate regimes. In the fourth part we analyze the fundamental parity relationships, covered interest rate parity, uncovered interest rate parity and carry trade strategy, the law of one price and purchasing power parity. The fifth part presents and discusses the alternative theories of exchange rate determination and modeling of nominal and real exchange rates and foreign exchange market intervention policies. The final part analyzes the international money market and the international bond market.

STUDY AND ATTENDANCE

We cover the course material in lectures. Attending lectures is compulsory. This is the best way of being introduced to a topic. Self-study is a vital and significant part of studying for the course.

LEARNING OUTCOMES

      On completion of this module, students should be able to:

·        To understand the basic features of the foreign exchange market.

·        To be able to analyze issues of foreign exchange rate policy.

·        understand how to develop models of exchange rate policy;

·        To recognise the importance of key elements of foreign exchange policy.

READING

REQUIRED TEXTBOOK

Alan C. Shapiro and Peter Moles, (2018), International Financial Management, New York: Wiley, Broken Hill Publishers, Ελληνική Έκδοση, (επιμ. Δημήτρης Γεωργούτσος & Γιώργος Κουρέτας)

RECOMMENDED READING

R. C. Feenstra and A. M. Taylor (2014), International Economics, 2nd Edition,          Ελληνική έκδοση, Θεσσαλονίκη: Εκδόσεις Επίκεντρο.  

G. Bekaert and R. Hodrick, (2012) International Financial Management, Second Edition, New York: Pearson

P. Wang, (2009), The Economics of Exchange Rates and Global Finance, Second Edition, Springer

I. Giddy, (1994), Global Financial Markets, New York: Houghton Mifflin

               J. Orlin Grabbe, (2000), International Financial Markets, Third Edition, New York: Prentice Hall

M.Melvin, (2000), International Money and Finance, Sixth Edition, New York: Addisson-Wesley.

B. Solnik and Dennis McLeavey, (2009), Global Investments, Sixth Edition, New York: Pearson

SYLLABUS

The Foreign Exchange Market: Introduction. Direct and Cross exchange rates; Bid and ask prices; nominal exchange rates, real exchange rates; nominal and real effective exchange rates; the spot market; Currency arbitrage; the forward market; the swap market; the futures markets. 

Foreign Exchange Market Efficiency: The efficient market hypothesis in the foreign exchange market; Basic relationships; Econometric evidence; risk premium.

International Monetary Arrangements: Regime Classification; Exchange rate policy in Greece; Criteria of exchange rate selection; History of international monetary arrangements.

The Balance of payments: National accounts in the open economy; the balance of payments; the current account; the capital account; Debtors and creditors in the global economy.

Exchange Rate Models I: Uncovered interest rate parity; carry trade; covered interest rate parity; forward premium bias.

Exchange Rate Models II: Purchasing power parity. 

Exchange Rate Models III: The monetary model; the flexible price approach; the Fisher equation; the sticky price model; the real interest rate differential model.

Exchange Rate Models IV:  The portfolio balance model; the current account model; the news model.

Real Exchange Rate Models: The Balassa-Samuelson approach: Productivity and exchange rate. The Public debt approach: Fiscal policy and exchange rates; the twin deficits.

Foreign Exchange Market Intervention: Intervention in the spot market; (a) Non-sterilized approach; (b) Sterilized approach. The ECB intervention policy; 

Currency Crises: Currency speculation index; currency crises models; History of currency crises; contagion.

EVALUATION

The following notes offer guidance on how you will be assessed for the course.

20% homework

80% final examination

Title:      Digital Marketing

Credit Rating:   5 ECTS

Prerequisites:     Introduction to Marketing

Instructor: Eleni Zantidou           

Teaching Methods: Traditional face to face

Consultation Time: Mondays 15:00-17:00 (upon appointment & via Teams)

Contact email:   elenizantidou@gmail.com

AIM OF THE COURSE

Digital Marketing has completely disrupted the way organisations and brands communicate with consumers. There has been a dramatic power-shift driven by the growth of User Generated Content, Influencer Marketing and Social Media platforms. This is the element of the 4th Industrial Revolution (4IR) which is consumer driven. This module addresses these challenges by using cutting edge practice and theory to equip students with the essential competencies and knowledge for Digital Marketing roles.

The purpose of the course is to understand the basic principles of Digital Marketing and become familiar with its various aspects. Students will develop the ability to recognize fundamental concepts, distinguish the nature and differences of digital channels, and comprehend communication tools in a digital context. They will learn about establishing an e-business, an online store, and a blog, while enhancing their digital skills. Students will learn both practices and theory of the digital consumer, success factors, and the importance of ethics. The integration of digital marketing strategies, social media, and CRM strengthens the practical knowledge. Additionally, understanding the advantages and limitations of digital communication channels, along with awareness of SEO, are crucial elements of the current module.

STUDY AND ATTENDANCE

Autonomous reading is required and preparation before joining the class.

LEARNING OUTCOMES

Upon completion of the course, students will be able to:

1. Understand Core Concepts of Digital Marketing: To define basic concepts in the field of digital marketing and comprehend the importance of digital marketing.

2. Explore Digital Channels and Communication Tools: To recognise the nature and differences of digital channels and platforms. To identify the nature and scope of communication tools in the digital context. To understand the role and essential elements of a functional website and blog.

3. Analyse Consumer Behaviour and CRM: To understand the theory of the digital consumer and their behaviour. To identify critical success factors that enhance the online consumer experience and website effectiveness. To recognise the use of social media and mobile communications to enhance CRM effectiveness.

4. Apply Strategic and Analytical Digital Marketing: To understand the theory and practical applications of digital marketing strategies. To learn about digital measurements, ROI and analytics. To understand Search Engine Optimization (SEO), Google advertising, and social media. To know the importance of content on digital platforms.

5. Address Ethical and Legal Considerations: To stay informed about the ethics and legislation of digital marketing.

RECOMMENDED READING

Chaffey, D. Ellis-Chadwick, F., 2022. Digital marketing: strategy, implementation and practice (8th ed). Pearson, Harlow.

Kingsnorth, S., 2019. Digital marketing strategy. 2nd ed. Kogan Page, London.

Roberts, M.L. Zahay, D.L., 2018. Internet marketing: integrating online and offline strategies (4th ed). South-Western, Mason, Ohio.

Tuten, T. L. 2022. Principles of marketing for a digital age. 2nd edition. Sage Publications Ltd.

Zahay, D.L. et al. 2023. Social media marketing a strategic approach (3rd ed). Australia: Cengage.

SYLLABUS

This strategic yet practical module aims to build competencies and knowledge to equip students for the digital marketing roles of the future. It covers both theoretical and practical aspects. Therefore, the curriculum encompasses the following study areas:

·        Introduction to digital marketing foundations

·        Online Consumer Behaviour

·        Content Marketing including Video Marketing

·        Website Marketing

·        User generated content

·        Digital Metrics and Analytics

·        Email Marketing

·        Mobile Marketing

·        Display advertising

·        Influencer & Content Creator Marketing

·        Digital Marketing mix

 -Search: organic & paid

- Paid for media: Digital Advertising, Email Marketing and Affiliate Marketing

 - Owned media: Content Marketing: Websites, Owned Social Media, Blogging, Video

 - Earned media: Social Media Marketing: User Generated Content, Influencer Marketing, Online Communities, Dark Social

EVALUATION

Three essay questions will be provided out of which two should be answered by the students.

 [EZ1]I’m leaving my personal email here, but let me know if I’ll be given an aueb account—I'd be happy to replace it.

BASIC INFORMATION ABOUT THE COURSE

Title: Digital Transformation

Credit Rating:

Prerequisites: None

Instructor: Dr. Katerina Fraidaki

Teaching Methods: The teaching consists of:

·        Lectures

·        Case studies

·        Presentation of digital tools

·        Exercises for the application of the tools

Consultation Time/Tutorials: Tuesday, 16:00 – 18:00

Contact email:   fraidaki@aueb.gr

AIM OF THE COURSE

The course "Digital Transformation" aims to teach the ways in which we analyze, design, and implement Digital Transformation in a business. The course will include the presentation of real tools, which students will be asked to use to carry out their work (attendance of the course does not require prior programming knowledge, it is intended for individuals who will now start their study.

STUDY AND ATTENDANCE

Students will be required to:

·        Study the slides given during the course

·        Study case studies

·        Apply real tools for the development of an e-shop and its digital promotion

·        Study the digital maturity of a company and propose strategies for its digital transformation.

LEARNING OUTCOMES

By the end of the course, students will be able to:

·        Study the current digital maturity of an organization

·        Identify points that can be digitized in a business

·        Apply tools for a company's digital presence

·        Apply tools for digitizing a company's internal processes

·        Develop their digital presence (e-shop and promotion tools)

RECOMMENDED READING

Slides and papers will be provided during the course

SYLLABUS

The thematic areas that will be taught are:

·        Introduction to Digital Transformation and Digitization

·        Ways to study the digital maturity of a business

·        Ways to study the competition with digital tools

·        Digital presence of a business (e-commerce strategy)

·        Digital promotion of a business (search engines (SEO/SEM/ Google Ads/ YouTube), Social Media (Facebook, Instagram, TikTok, content marketing, email marketing)

·        Platforms for the internal organization of a business (ERP, CRM, WMS)

EVALUATION

The evaluation of the course will be as follows:

·        50% final exam

·        40% group work

·        10% analysis of a case study per group"

BASIC INFORMATION ABOUT THE COURSE

Title:                                         Managerial Problem Solving

Credit Rating:                                     5 Credits

Prerequisites:                          None

Instructor:                               Prof. Manolis N. Kritikos

Teaching Methods:                  The class meets once a week for a three-hour lecture.   

                         (Wednesday 12:00-15:00)

Consultation Time/Tutorials:   Thursday 13.00-15.00, (place: 12 Derigni Str., 5th floor,

                                                Office number 7)

Contact email:                         kmn@aueb.gr

AIM OF THE COURSE

The aim of the course is to introduce the graduate students to the methodology of decision making, as well as in the major models used today. Decision making is one of the most important functions of management. Today’s business environment is characterized by high competition, constant changes, extensive globalization, large availability of data and information, and the huge penetration of information and telecommunications technology. In this environment, decision making is increasingly based on the use and analysis of data, through the development of models and the use of user-friendly PC based computer packages. The five major categories of models are covered: Linear and Integer Programming, Decision Analysis, multicriteria decision making and Simulation. Also, heuristic and meta-heuristic algorithms are presented for solving difficult combinatorial optimization problems. Also, the Data Envelopment Analysis methodology is covered that is based at Linear Programming methodology for measuring relative performance of systems operations. In each category, the student is exposed to several applications, and can apply his/her knowledge to several problems and case studies. In addition to developing models, the student is exposed to several computer packages, most of them based on Excel, to use to solve the problems.

STUDY AND ATTENDANCE

We cover the course material in lectures supported by directed research of texts and journals also through more active student-centered learning methods such as case studies, homework, and individual essays. Attending lectures is compulsory. This is the best way of introducing the students to a topic. Self-study is a vital and significant part of studying for the course.

LEARNING OUTCOMES

On completion of this course, students should be able to:

•           understand and formulate decision-making problems,

•           develop the appropriate decision-making models,

•           use decision making models to effective decision making,

•           implement the above models in many businesses’ functions,

•           use the computer technology efficiently to make the best decision.

RECOMMENDED READING

1. B. W. Taylor III, (2019), Introduction to Management Science, Pearson Educational Inc, Broken Hill

2.      C. Ragsdale, (2024), Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Business Analytics, Cengage Learning, Broken Hill

1. H. A. Taha, (2016), Operations Research: An Introduction, 10th edition, Prentice Hall, 2016

1. N. Balakrishnan, B. Render, P. M. Stair, Jr., (2013), Managerial Decision Modeling with Spreadsheets, Pearson Educational Inc.

1. J.Zhu,(2009), Quantitative models for performance evaluation and benchmarking,  Springer

6.      W. W. Cooper, L. M. Seiford and K. Tone, (2007), Data Envelopment Analysis,  Springer

1. Z. Michalewicz and D.B.Fogel, (2004), How to solve it: Modern Heuristics, Springer

1. W. L. Winston and S. C. Albright, (2002), Practical Management Science, South-Western College Pub.

1. G. L. Nemhauser and L. A. Wolsey, (1999), Integer and Combinatorial Optimization, Wiley- Interscience

SYLLABUS

The Fundamentals of Operations Research: Introduction to management Science; The methodology of Decision Making; Models in Managerial Decision Making 

Linear Programming (LP): Introduction; Characteristics of LP Problems; Graphical solution of a LP problems; A Maximization Problem; a Minimization Problem; Problems General Formulation and Assumptions of LP problems

Sensitivity analysis in Linear Programming: Dual Prices in LP; Reduced costs in LP; Changes in the Objective Function’s Coefficients; Changes in the Right-Hand Sides (RHS) of the Constraints; Evaluation of a New Activity

Using Solver to Solve Linear Programming Problems: Introducing the model in Excel; Solving the Problem; Understanding and Analyzing the Solution – SOLVER Reports.

Integer Programming (IP): Introduction; Formulating IP Problems with Binary Variables; Formulating IP Problems; Solving IP problems; Solving Integer Programming Problems with SOLVER.

Implementing Management Science in Practice: Marketing and Sales problems; Production and Inventory problems; Networks and Transportation problems; Logistics and Supply Chain problems; Investments problems; Human Resources problems.

Data Envelopment Analysis (DEA): Introduction, production possibility set, efficient frontier, return to scale, CCR model, BCC model, ADD model, SBM model, the reference set, Metafrontier.

Decision Analysis: Introduction; Criteria for Making Decision under Uncertainly; The Expected Value of Perfect Information; Decision Tree; Calculating the Risk Profile a Strategy; Sensitivity Analysis; Using Precision Tree to Solve Decision Analysis Problems.

Simulation: Introduction; Implementation of Simulation under Conditions of Uncertainty

Using Excel, Extend and @Risk in Simulation: Introduction; Simulation of Queuing Systems; Simulation of an Inventory System; Analysis of Simulation Results.

Heuristics Methods for hard Combinatorial Optimization Problems: Traveling Salesman Problem, Capacitated Minimum spanning tree problem, Vehicle Routing Problems. Solving Problems using CPLEX και MatLab.

EVALUATION

The following offers guidance on how you will be assessed for the course. The final grade will be based on homework and case studies, class participation and a final exam. The breakdown of the final grade will be approximately as follows:                             

                        15 % class participation and homework

25% case studies and a group project

                        60% final examination.

BASIC INFORMATION ABOUT THE COURSE

Title: International and Export Marketing

Credit Rating: 6

Prerequisites: None

Instructor: Dionysios Skarmeas, Paraskevas Argouslidis

Teaching Methods: Face-to-Face

Consultation Time/Tutorials: Tuesday 15:00-18:00

Contact email:  

AIM OF THE COURSE

The purpose of the course is students to understand the challenges and opportunities of globalization for a company, the motivations and obstacles of company’s internationalization efforts, the criteria used for selecting a country/market and segmenting the global market, the development of appropriate marketing strategies (adaptation, standardization) for foreign markets and how to formulate an export marketing plan. Teaching includes lectures, case studies, and a simulation game.

STUDY AND ATTENDANCE

The lectures cover a wide range of concepts, strategies, and techniques pertinent in the field of International Marketing, combining theory and practice. The core of the material covered in the lectures will be uploaded to e-class in advance. However, lecture attendance and systematic study of the uploaded material is essential for in-depth understanding of the subject matter of each lecture.

LEARNING OUTCOMES

Upon completion of the course students will be able to:

• Understand the ramifications and problems companies face when operating overseas

• Analyze the international market environment

• Assess key data sources and the importance of gathering information for overseas markets

• Comprehend the foreign market selection process

• Distinguish the advantages and disadvantages of alternative foreign market entry modes

• Explain the importance of gray markets in exporting

• Understand the INCOTERMS system of International Commercial Terms

• Comprehend the alternative methods of payment in international trade

• Formulate and execute an international marketing strategy

RECOMMENDED READING

Green, M.C. & Keegan, W.J. (2020). Global Marketing, 10th edition, Pearson.

Hollensen, S. (2020). Global Marketing, 8th edition, Pearson.

Additional Reading: Journal of Marketing, Journal of the Academy of Marketing Science, Journal of International Marketing, Journal of International Business Studies, International Marketing Review, Journal of Business Research.

SYLLABUS

• Introduction to International Marketing

• PESTEL Analysis

• International Market Selection

• International Marketing Strategy

• Export Marketing Plan

• Export Routes and Gray Markets

• International Commercial Terms INCOTERMS

• Payment Methods in the context of Exports

EVALUATION

Students will be evaluated as follows.

·        Written exam (70%)

•       Simulation game (30%)

BASIC INFORMATION ABOUT THE COURSE

Title: International Management              

Credit Rating: 6 ECTS

Prerequisites: None

Instructor: Dimitris Manolopoulos           

Teaching Methods: The course is taught once a week with a three-hour lecture

Consultation Time/Tutorials: Monday and Wednesday, 11:15 – 15:00    

Contact email: dmanolop@aueb.gr

AIM OF THE COURSE

The importance and effects of international firms are evidently multifaceted; as these ventures impact on the economies and societies in which they operate. The core aim of the course is to acquaint students with the international dimensions of management science and their practical applications. Basic management principles remain the same during the internationalization stage of a corporation; however, they should be studied in a context of diverse markets and macro-environmental characteristics. As a result, international corporations should be able to identify an appropriate mix of global integration and national responsiveness, adapt their strategies, and utilize core competences and resources so as to exploit the advantages of internationalization and the differences in foreign countries’ factor endowments.

STUDY AND ATTENDANCE

The educational material of the course is covered in the lectures. The lectures concern discussions, case study analyses and projection of audio-visual material, as well as simulations of international management’s practical applications carried out in the classroom. The presence of students in lectures is mandatory. This is an optimal way to understand the issues that are being analyzed. Individual study is an essential and important part of the educational process

LEARNING OUTCOMES

On completion of this module, students should be able to:

• Understand the importance and impact of international business on global economic and social scenery.

• Critically analyze the phenomenon of globalization and local responsiveness in today’s reality.

• Identify the key cultural, political, economic and technological developments affecting international management and international business.

• Identify opportunities and threats for managers working in an international context.

• Describe and analyse international strategies.

·   Classify and describe the role of subsidiaries and their impact on the economic development of host countries.

·   Critically evaluate the diverse organizational structures that govern the relationships of the international corporation.

·   To link theories with international practice

RECOMMENDED READING

The course does not require a specific textbook. All the necessary material regarding the understanding of the topics to be discussed will be handed by the instructor.

Recommended textbooks:

·        Μανωλόπουλος Δ. & Μπιτζένης, Α. 2018. Η Διεθνοποιημένη Επιχείρηση τον 21ο Αιώνα. Interbooks, Αθήνα.

·        Ghemawat, P. 2007. Redefining Global Strategy: Crossing Borders in a World where Differences Still Matter. Harvard Business School Press, Boston.

·        Gupta, A.K. Govindarajan, V. & Wang, H. 2008. The Quest for Global Dominance. Jossey-Bass. San Francisco.

·        Hodgetts R. & Luthans, F. International Management. McGraw-Hill, New York (latest edition).

SYLLABUS

Understanding International Management – The Context: Introduction. Definitions. Challenges for international management. Core dilemmas of firms before internationalization process. Motives for expansion. Internationalization strategies. Location selection. Advantages deriving from the internationalization of enterprises. The role of host countries.

The Macroenvironment of International Corporations: The globalized environment and the global economy. The impact of the macro-environmental characteristics on international management. Ethical dilemmas that arise. 

International Firms as Networks - Internal Environment: Strategy challenges for international companies. International Strategies. The roles of subsidiaries in the network of international firms. Organizational structures and management challenges regarding the coordination and control of geographically dispersed activities

EVALUATION

The evaluation of students will be as follows:

20% Class participation (discussions, case study analysis, simulations of practical applications, etc.)

80% Final exam

BASIC INFORMATION ABOUT THE COURSE

Title:      Accounting for budgeting, decision making and performance measurement

Credit Rating: 5

Prerequisites:     There are no prerequisites

Instructor:          Sandra Cohen

Teaching Methods:  3 hours lecture -once per week

Consultation Time/Tutorials:      Please consult eclass

Contact email:   scohen@aueb.gr

AIM OF THE COURSE

The objective of the course is to provide basic and advanced knowledge regarding the use of accounting information for decision-making. The course covers the issues of preparing, monitoring and controlling the master budget as well as the analysis of variances, the methodology for short-term decision-making based on cost information, investment appraisal considerations, and the methods used for the assessment of departments based on financial and non-financial data. Basic principles of cost accounting, as well as insights into cost accounting systems’ structure, are presented during the lectures.

STUDY AND ATTENDANCE

Various teaching methods are used to conduct the course. More specifically, oral presentations are made by the instructor on the individual topics covered in the program. Exercises are solved and case studies are discussed for students to gain experience on the practical application of theoretical concepts. At the end of the source, students submit a group assignment.

LEARNING OUTCOMES

On completion of this course, students:

·        will be able to understand the basic concepts of management accounting and the current trends internationally, 

·        will have the skills to use management accounting techniques, tools and methods in practice,

·        will be able to select the most suitable management accounting method, tool or technique to extract and process accounting information for decision-making.

RECOMMENDED READING

The course draws from a variety of sources (books, scientific papers, case studies, etc.). The main textbooks followed are No. 1 (in English) and No 2. (in Greek) in the following list.

1.      Hilton, R., M. Maher and F. Selto, “Cost management: Strategies for Business Decisions”, International Edition, 4th edition, Mc Graw Hill, 2008

2.      Σ. Κοέν και Γ. Βενιέρης, «Διοικητική Λογιστική», Εκδόσεις Διπλογραφία, Αθήνα, 2023

3.      Drury, C., “Management and Cost Accounting”, Thomson, 6th edition, 2004.

4.      Horngren, C. T., A. Bimani, S. Datar and G. Foster, “Management and Cost Accounting”, Prentice Hall, 2nd edition, 2002.

5.      Horngren, C. T., G. Foster and S. Datar, ‘‘Cost Accounting: A Managerial Emphasis’’, Prentice Hall International Editions, 11th  edition, 2003.

6.      Kaplan, R. and A. Atkinson, “ Advanced management Accounting”, Prentice Hall, 3rd edition, 1998.

7.      Kaplan, R. S. and R. Cooper, ‘‘Cost & Effect - Using Integrated Cost Systems to Drive Profitability and Performance’’, Harvard Business School Press, 1998.

8.      Zimmerman, J. L., ‘‘Accounting for Decision Making and Control’’, McGraw-Hill Irwin, 4th edition, 2003.

9.      Bhimani, A. and M. Bromwich, Διοικητική Λογιστική: Εξετάζοντας το παρελθόν και το μέλλον, Εκδόσεις Διπλογραφία, Αθήνα, 2016.

10.   Μπάλλας, Α. και Α. Δημητράς «Διοικητική Λογιστική», Εκδόσεις Gutenberg, 2009

SYLLABUS

The course will include the following modules:

·        Introduction to managerial accounting –The flexibility in defining the cost – Production costs and total product costs

·        Development of master budgets

·        Investment budgets

·        Break Even point calculations

·        Short term decision making with and under constrains

·        Budget variances and Performance Assessment

·        Transfer pricing and Cost-Based Pricing

EVALUATION

The assessment is based on the following two criteria:

·       30% group assignment

·       70% final written exams

A prerequisite to pass the course is to get a mark over (five) out of 10 (ten) in the final written exams

BASIC INFORMATION ABOUT THE COURSE

Title:      Portfolio Management and Investment Analysis

Credit Rating: 6

Prerequisites:   None

Instructor: Georgios P. Kouretas and Maria-Eleni Agoraki           

Teaching Methods: The class meets once a week for a three-hour lecture.

Consultation Time/Tutorials:     

Contact email:   kouretas@aueb.gr; magoraki@aueb.gr

AIM OF THE COURSE

The aim of this course is to introduce the graduate students to portfolio management and investment analysis. The course includes the study of both theoretical and practical problems which deal with the measurement of risk and portfolio performance as well as of individual stocks. In the first part we present the financial mathematical concepts applied to investments and the fundamentals of the money and capital markets. The second part presents and discusses the main models of stock and companies’ valuation. In the third part we conduct a thorough analysis of the modern theory of portfolio management whereas in the fourth part we present the capital asset pricing model. The fifth part analyzes modern alternative investment products. The final part presents the portfolio management strategies.     

STUDY AND ATTENDANCE

We cover the course material in lectures. Attending lectures is compulsory. This is the best way of being introduced to a topic. Self-study is a vital and significant part of studying for the course. In addition, the theoretical analysis is supported by a substantial number of exercised and the conduct of case studies with the use of appropriate software packages.

LEARNING OUTCOMES

      On completion of this module, students should be able to:            

·          Understand the investment process, starting from risk and return characteristics of individual assets and portfolios through to optimal portfolio selection and performance evaluation.

·          Understand the determinants of asset prices, asset pricing models and implications of their assumptions on contemporary investment management process.

·          Be able to address and tackle issues such as:

*     Estimation of return, systematic and non-systematic risk of a portfolio

*     Identification of efficient portfolios

*     Assessing risk/return preferences of investors and identification of optimal portfolios using utility theory.

*     Application of portfolio performance measures in portfolio evaluation process.

*     Forming and developing diversification strategies to hedge market risk and reduce company specific risk of a portfolio.

*     Pricing assets by using asset pricing models.

·          Be able to contribute to the shaping, implementation, and evaluation of a portfolio management strategy.

RECOMMENDED READING

Required Textbook

Financial Management: Core Concepts, Raymond Brooks, Pearson, 2019, σελ. 656, 4th Edition. 1η Greek edition, Athens: Kritiki publishing co., 2023 (pages 705), ed. (Maria-Eleni Agoraki, Georgios P. Kouretas and Konstantinos Marinakos).

Recommended Textbook

Bodie, Z., A. Kane and A.J. Marcus, Investments, (2009), Eight Edition, McGraw-Hill.

Damodaran, A., (2014). Applied Corporate Finance, 4th Edition, Wiley. (ελληνική έκδοση)

Ross, S., Westerfield, R., Jaffe, J., (2010), ‘Corporate Finance’, 9th Edition, McGraw Hill.

Elton, E., Gruber, M., Brown, S., Goetzmann, W., (2014), ‘Modern Portfolio Theory and Investment Analysis’, 9th Edition, Wiley.

Brealey, R., Myers, S.C., Allen, F., (2020). Principles of Corporate Finance, 13th Edition, McGraw Hill.

In addition to the above, it is recommended to read:

• The finance related journals, such as: Journal of Finance, Journal of Financial Economics, Journal of Banking and Finance, Review of Financial Studies, Financial Analysts Journal, Journal of Applied Corporate Finance, Journal of Portfolio Management, Journal of Investment Management, Financial Management, Journal of Futures Markets, Journal of Derivatives, etc.

• Financial periodicals/papers, which include Financial Times, Economist, Wall Street Journal, Ναυτεμπορική, Express, Χρηματιστήριο, Ημερησία, Κέρδος, Ισοτιμία (Εβδομαδιαία), Καθημερινή, Ένθετο Βήματος, Οικονομικός Ταχυδρόμος.

• Use Databases for data collection, such as: Reuters, Bloomberg, Datastream, Web pages of Companies and Stock Exchanges.

SYLLABUS

Financial Management: Introduction; The concept of return and measurement of the investment project performance; The Risk/Return relationship and risk measurement; Investors behaviour and risk; the operation of capital markets; Primary and secondary capital markets; The Efficient Market Hypothesis; Analysis of market efficiency forms.

Stock Valuation Models: Introduction to the characteristics and types of stocks; The intuition of the valuation models based on fundamental analysis (Relative and Absolute models); Valuation using models of dividend discount (zero, constant or ή multiple growth); Stock valuation using Stock performance indices (P/E ratio, PEG ratio, P/BV ratio, Dividend Yield, P/Sales ratio, P/CF ratio etc.).

Modern Portfolio Management Theory: Measurement of risk and return of portfolio consisted of risky assets; Systematic and non-systematic risk; Differentiation by Markowitz – Differentiation gains; Feasible portfolios – The dominance phenomenon; Construction of frontier of efficient portfolios; Portfolios with risky assets and risk-free asset; The capital market line – Sharpe Ratio.

Capital Asset Pricing Model: The security market line; Beta coefficient; Capital Market Pricing Model (CAPΜ); Violation of CAPM hypotheses and alternative asset valuation models; Beta estimation with the market model; Cost of Capital calculation within the portfolio management framework.

Alternative Investment Instruments: Exchange Traded Funds; Funds of Funds – Hedge Funds; Commodities trading. 

Portfolio Management Strategies: Passive stock portfolio management strategies; Active stock portfolio management strategies; Fixed income securities portfolio management strategies (bond immunization)

EVALUATION

The following notes offer guidance on how you will be assessed for the course.

20% homework and analysis of case studies

80% final examination

BASIC INFORMATION ABOUT THE COURSE

Title:      Project Management

Credit Rating: 6

Prerequisites:     -

Instructor: Prof. Konstantinos Kirytopoulos

Teaching Methods: Interactive Lectures, Case Studies, Group Exercises, Guest Speakers, Self-assessment Quizzes

Consultation Time/Tutorials:      Tuesday 14.00-17.00

Contact email:   kkir@mail.ntua.gr

AIM OF THE COURSE

The course provides an in-depth analysis of project management processes in the light of national and internationally recognized standards, methods and practices (ISO21502, PMBOK/PMI, ELOT1429). The analysis starts from the definition and phases of a project and proceeds to the specific knowledge - skills that a project manager and/or project team members should have, such as methods and management tools in the subject areas of scope, time, cost, quality, human resources, communication, risk, stakeholders and procurement.

The main purpose of the course is to familiarize students with the main project management methods/techniques such as scope management (WBS), time management (Gantt, CPM, PERT), cost management (Cashflow / Time-phased Budget), stakeholder management (P-I matrix) and risk management (RBS, P-I matrix). In addition, emphasis is placed on modern and sophisticated tools (such as earned value management) for project monitoring. Other modern forms of project management such as agile project management are also discussed in the course.

STUDY AND ATTENDANCE

The attendance of the lectures is suggested in accordance to the rules of the program. In each lecture/week a study guide is given by the lecturer. Notes in the form of slides and exercises are provided. At the same time, students are guided to the relevant literature.

LEARNING OUTCOMES

Upon completion of the course students will be able to:

- Understand the basic principles and terminology of project management based on international standards and practices.

- Understand and use the processes related to the knowledge areas of project management (integration, scope, time, cost, quality, quality, resources, communication, risk and procurement)

- Analyse complex projects through the key methods and techniques related to the above subject areas (WBS, CPM, PERT, Gantt, Slacks calculation, Organisational Structures, RACI, Cash Flows, EVM, Risk Sheets, Resource Levelling, Contract types, Schedule Tracking, Budgeting)

- Organise and participate in agile project management teams.

- Use software for project management.

- Manage projects and project teams in an effective manner.

RECOMMENDED READING

Textbook:

Larson, E & Gray, C 2018, Διοίκηση έργων: η διαδικασία διοίκησης, Εκδόσεις Κλειδάριθμος, Αθήνα. (covers all the processes and tools discussed and is fully aligned with the course - previous versions in English (up to 5th edition) are also suitable)

Other readings:

Kerzner, H 2022, Project management: a systems approach to planning, scheduling, and controlling, 13th edn, John Wiley & Sons, N.J.

Shtub, A & Rosenwein, M 2016, Project management: processes, methodologies, and economics, 3rd edn, Pearson Prentice Hall, Upper Saddle River, N.J.

Κηρυττόπουλος, Κ. 2021, Διαχείριση Κινδύνων σε Έργα και Οργανισμούς, Εκδόσεις Κλειδάριθμος, Αθήνα.

International Standards and Practice Standards

ISO 2012, ISO 21500 Guidance on project management, International Organisation for Standardisation (ISO), Geneva, Switzerland.

PMI 2023, Process Groups: A Practice Guide, Project Management Institute, Newtown Square, Pa. (must read if you are planning to sit for a PMI business certification – training beyond this course is needed)

PMI 2021, A guide to the project management body of knowledge (PMBOK® Guide), 7th edn, Project Management Institute, Newtown Square, Pa. (must read if you are planning to sit for a PMI business certification – training beyond this course is needed)

PMI 2017, Agile Practice Guide, Project Management Institute, Newtown Square, Pa. (must read if you are planning to sit for a PMI business certification – training beyond this course is needed)

SYLLABUS

EVALUATION

Students will be assessed as follows.

100% Final written examination.

Topics are based on the exercises solved during the lectures. The examination will be conducted with open books, notes, etc. No electronic aids other than simple computer operations are allowed. The use of mobile phones is prohibited.

1. GENERAL

SCHOOL

School of Business

ACADEMIC UNIT

Department of Business Administration & Department of Marketing and Communication

LEVEL OF STUDIES

Master

COURSE CODE

bm23119f

SEMESTER

3

COURSE TITLE

Research methodology and market research

INDEPENDENT TEACHING ACTIVITIES

if credits are awarded for separate components of the course, e.g. lectures, laboratory exercises, etc. If the credits are awarded for the whole of the course, give the weekly teaching hours and the total credits

COURSE TYPE

general background,

special background, specialised general knowledge, skills development

Specialization

PREREQUISITE COURSES:

No

LANGUAGE OF INSTRUCTION and EXAMINATIONS:

Greek

IS THE COURSE OFFERED TO ERASMUS STUDENTS

No

COURSE WEBSITE (URL)

https://www.mba.aueb.gr/index.php/en/program/programstructure

2. LEARNING OUTCOMES

Learning outcomes

The course learning outcomes, specific knowledge, skills and competences of an appropriate level, which the students will acquire with the successful completion of the course are described.

Consult Appendix A

• Description of the level of learning outcomes for each qualifications cycle, according to the Qualifications Framework of the European Higher Education Area

• Descriptors for Levels 6, 7 & 8 of the European Qualifications Framework for Lifelong Learning and Appendix B

• Guidelines for writing Learning Outcomes

On completion of this module, students should be able to understand the objectives of market research, its applications and analytical techniques. They should be able to evaluate and use research findings and data in business settings.

General Competences

Taking into consideration the general competences that the degree-holder must acquire (as these appear in the Diploma Supplement and appear below), at which of the following does the course aim?

Search for, analysis and synthesis of data and information, with the use of the necessary technology

Adapting to new situations

Decision-making

Working independently

Team work

Working in an international environment

Working in an interdisciplinary environment

Production of new research ideas

Project planning and management

Respect for difference and multiculturalism

Respect for the natural environment

Showing social, professional and ethical responsibility and sensitivity to gender issues

Criticism and self-criticism

Production of free, creative and inductive thinking

……

Others…

…….

Search for, analysis and synthesis of data and information, with the use of the necessary technology

Decision-making

Working independently

Team work

Working in an interdisciplinary environment

Production of new research ideas

Σχεδιασμός και διαχείριση έργων

Production of free, creative and inductive thinking

3. SYLLABUS

The aim of the module “Research methodology and market research: is to introduce the principles of market research and learn methods for empirical research in the broader field of marketing.

4. TEACHING and LEARNING METHODS - EVALUATION

DELIVERY

Face-to-face, Distance learning, etc.

Face to Face

USE OF INFORMATION AND COMMUNICATIONS TECHNOLOGY

Use of ICT in teaching, laboratory education, communication with students

Yes

TEACHING METHODS

The manner and methods of teaching are described in detail.

Lectures, seminars, laboratory practice, fieldwork, study and analysis of bibliography, tutorials, placements, clinical practice, art workshop, interactive teaching, educational visits, project, essay writing, artistic creativity, etc.

The student's study hours for each learning activity are given as well as the hours of non-directed study according to the principles of the ECTS

Activity

Semester workload

Lectures

100

Laboratory

25

Essay writing

25

Course total

150

STUDENT PERFORMANCE EVALUATION

Description of the evaluation procedure

Language of evaluation, methods of evaluation, summative or conclusive, multiple choice questionnaires, short-answer questions, open-ended questions, problem solving, written work, essay/report, oral examination, public presentation, laboratory work, clinical examination of patient, art interpretation, other

Specifically-defined evaluation criteria are given, and if and where they are accessible to students.

Assessment is as follows:

• 30% assignment

• 70% final exam paper

5. ATTACHED BIBLIOGRAPHY

- Suggested bibliography:

- Related academic journals:

ΑΠΑΙΤΟΥΜΕΝΟ ΣΥΓΓΡΑΜΜΑ

A. Parasuraman, D. Grewal, and R. Krishnan (2006). Marketing Research. Houghton Mifflin Company.

ΣΥΝΙΣΤΩΜΕΝΑ ΕΠΙΠΡΟΣΘΕΤΑ ΣΥΓΓΡΑΜΜΑΤΑ

William G. Zikmund & Barry J. Babin, (2012). Essentials of Marketing Research. South-Western College Pub.

BASIC INFORMATION ABOUT THE COURSE

Title: SALES MANAGEMENT

Credit Rating: 6

Prerequisites:    

Instructor: Konstantinos Lionakis

Teaching Methods: Lectures

Consultation Time/Tutorials: Lionakis@aueb.gr                

Contact email: Lionakis@aueb.gr            

AIM OF THE COURSE

The practical, managerial, organizational and strategic issues related to Sales are among the most critical for the orderly and successful operation of any business. Sales executives communicate, serve and manage the company's most valuable asset: customers. Also, Sales as a function is the link between business and market and is considered the eyes and ears of every company. At the same time, Sales are the only function that generates direct income and due to their role, they have to cooperate closely and coordinate with all the other basic functions of a company, e.g. Senior Management, Production, Finance, HR, R&D and especially Marketing, having a decisive role in the implementation of the business strategy and the achievement of the goals.

The purpose of the course is to analyze the dimensions of the complex operation of the Sales department. Specifically, emphasis will be placed on:

(a) the sales process and sales techniques. The focus will be on business-to-business transactions where the bulk of market sales are seen, but the basic approaches will also apply to retail sales. References will also be made to electronic sales.

(b) strategic and critical decisions that are required to be made by Sales executives when designing a sales plan such as market forecasting and setting Sales targets, determining the Sales force and fleet as well as hybrid and mixed sales systems (eg agents) that can be implemented by a company, the planning of the sales areas in combination with the targeting and positioning of the company, and the organization of the Sales force.

(c) the role of cooperation and methods of coordination of the Sales department with the Marketing department (as these two functions are the most customer-centric), as well as in general management issues of the relations of the Sales department with other key departments and functions of a company.

(d) broader issues contained in the operation of the Sales department such as the logic of CRM systems, customer service, complaint management, the importance of service orientation (servitization) and service-dominant logic, as well as decisions concerning HR such as compensation, training, control, and internal marketing policies (Internal Marketing Orientation).

(e) the key role of the adoption of the Marketing philosophy in the strategic planning and implementation of the Sales operations aiming in providing value to the customer (customer value).

STUDY AND ATTENDANCE

The teaching method focuses on interaction and participation, combining: (a) lectures with discussion and analysis, (b) decision-making (in groups) based on primary market research results in case studies of real companies that will be discussed in class in example format, (c) exercises in which students are asked (in groups) to analyze and apply practical Sales issues, (d) short video screenings related to the Sales function, and (e) critical approach multiple-choice quizzes with discussion and analysis in terms of answers in the last lesson. The participants will apply the tools taught in the group assignments (case studies and exercises) within the course, in the quiz and in the preparation of a group practical assignment (sales plan based on a specific scenario) which will be presented (deliverable: 8-minute presentation). The required study per 3-hour lecture is respectively 3 hours based on the course slides covered, the consolidation of the concepts discussed through case studies or exercises, and the proposed academic papers per lecture.

LEARNING OUTCOMES

Upon completion of the course students will be able to:

(i) to design, implement and evaluate specific sales techniques depending on the customer and the sales object.

(ii) have a deep understanding of the logic, contents and approach of a sales plan so that they can make the corresponding decisions.

(iii) Understand the application of combined market forecasting methods, be able to set and evaluate sales targets, as well as plan the format of the Sales fleet, sales territories and the Sales organization chart.

(iv) have the necessary knowledge of managing a Sales department taking into account the criticality of relationships and cooperation with the rest of a company's departments.

(v) have understood the services way of thinking, the importance, scope and complexity of the customer experience in relation to the implementation of a Sales plan and in relation to CRM approaches.

(vi) have knowledge about human resource management decisions with an emphasis on the logic of internal Marketing.

(vii) have a deep understanding of the role of Marketing logic in relation to strategic decisions and operations of the Sales department.

RECOMMENDED READING

(1)   Cespedes F. (2021). Sales Management That Works: How to Sell in a World that Never Stops Changing. Harvard Business Review Press.

(2)   Guenzi P. and Geiger S. (2017). Sales Management: A Multinational Perspective. Palgrave Macmillan, Basingsoke. 

(3)   Αυλωνίτης Γ. και Σταθακόπουλος Β. (2008). Αποτελεσματική Οργάνωση & Διοίκηση Πωλήσεων. 2η έκδοση, Εκδόσεις Σταμούλης.

** Supplementary

Academic journal papers from journals such as Journal of Marketing, Journal of Personal Selling and Sales Management, European Journal of Marketing, Journal of Business Review, Industrial Marketing Management etc., examples (business practice examples) are posted in the e-class) and case studies in a special folder, organized by lecture.

SYLLABUS

Indicative lecture plan

LECTURE 1: The Philosophy of Marketing in Sales

The importance of the marketing concept

Providing value to the customer

Sales management with a Marketing approach

LECTURE 2: The Sales Process

The sale stages

The definition of customer

The Buying Decision Center

LECTURE 3: Sales Methods and Techniques

Sales approaches

Forms of sale by product category and customer

LECTURE 4: Market Forecasting and Targeting

Market forecasting methods

Setting goals

LECTURE 5: Managerial and Organizational Decisions

Determining the strength and shape of the Sales fleet

Area planning

Organization of Sales department

LECTURE 6: Sales Collaboration with other Functions

Marketing and Sales Cooperation

Sales cooperation issues with other departments

HR decisions

Internal Marketing

LECTURE 7: Customer Service

Servitization & Service-Dominant logic

Understanding and managing the customer experience

Complaints management

Customer relations and CRM systems

LECTURE 8: Presentations and Quiz

Presentations and discussion of works

Quiz 20 multiple choice questions and discussion of the answers

EVALUATION

The evaluation of the participants in the course results by taking into account their answers to the written exams (with practical and not theoretical questions), the presentation of the work and the quiz. The ratio in the final grade is: written exams 50% - homework 30% - quiz 20%.

Title: Conflict Management and Negotiations    

Credit Rating: Six Credits

Prerequisites: None       

Instructor: Stavros Vourloumis, Ph.D.

Teaching Methods: Live

Consultation Time/Tutorials: Personal communication 

Contact email: stavour@aueb.gr

AIM OF THE COURSE

The goal of the course "Conflict Management and Negotiations" is to equip students with the necessary knowledge to prepare effectively, choose the optimal strategies for the negotiations in which they participate, and manage conflict and negotiation situations in real time. Additionally, the course aims to improve students’ overall skills, giving them the ability to communicate effectively with others (individually and as members of teams), to interpret their own goals, ambitions, and needs as well as those of their “opponents,” and to manage their emotions and those of others in a balanced way.

This elective course draws elements for several other courses of the Curriculum, as we consider multiple applications of the different negotiation principles, notions, strategic and tactics in the context of business, entrepreneurship, strategic decision-making, transactions (e.g., M&As or strategic alliances) and employee relationships. 

STUDY AND ATTENDANCE

Lectures are taking place in-class and attendance is mandatory. The teaching approach brings together discussion around concepts, analytical frameworks and theories in the broader area of negotiations and conflict management with case analyses, and negotiation simulations to be conducted by participants, followed by in-class discussion of the outcomes and key lessons drawn.

LEARNING OUTCOMES

After successfully completing the course, students will have the requisite knowledge, skills, and confidence to:

1.      Understand and apply fundamental concepts and analytical frameworks in a negotiation or conflict situation, whether in the professional, social or personal domain.

2.      Analyse and interpret the behaviour, interests and motives of other negotiators, including their counterparts and colleagues of the same side, as well as the contextual parameters of a negotiation situation, integrating this information into their own negotiation strategy and behaviour.

3.      Acknowledge and assess the advantages and disadvantages of various competitive and cooperative negotiation strategies and tactics.

4.      Understand and appreciate the role and potential effects of communication, language, power, ethics and cultural characteristics in negotiations.

5.      Grasp and interpret the dynamics of negotiations and decision-making processes involving multiple parties and stakeholders, and become well-equipped for balancing the multiple – and at times conflicting – interests, and resolving disagreements and disputes.

RECOMMENDED READING

Essential bibliography to study:

·        Thompson, L. (2020). The Mind and Heart of the Negotiator (7th ed.). Pearson.

Additional Recommended Reading:

1.      Fisher, R. & Ury W. (2003). Getting to Yes: Negotiating Agreement without Giving In: The Secret to Successful Negotiation. Random House Business Books.

2.      Lax, D.A., & Sebenius, J. K. (2006). 3D negotiation: Powerful tools to change the game in your most important deals. Harvard Business Review Press.

3.      Susskind, L. (2021). Good for You, Great for Me: Finding the Trading Zone and Winning at Win-Win Negotiation. Public Affairs.

4.      Malhotra, D., & Bazerman, M.H. (2008). Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond. New York, NY: Bantam Dell.

5.      Nalebuff, B. (2022). Split the Pie: A Radical New Way to Negotiate. Harper Business.

SYLLABUS

·        Introduction to negotiations and conflict

·        Alternative approaches to negotiations and conflict management

·        Effective negotiation preparation – Framing and presenting a request/argument – Initiating a negotiation

·        Value division and value creation in negotiations

·        Negotiation strategies, tactics, and how to manage or counter them

·        The nature of conflict, its sources, and main conflict management styles

·        Practical techniques and tips for managing conflict

·        Effective communication in negotiations

·        The role of ethics in negotiations

·        Mediation in the workplace and in business–commercial negotiations

·        Multiparty negotiations

·        Cross-cultural negotiations

·        Online/Virtual negotiations

EVALUATION

The course is evaluated through:

·        A final written exam, structured around a case study, testing the understanding of various negotiation concepts, approaches, styles, strategies and tactics and their applications into actual negotiation situations (60% of final mark).

·        Active participation and engagement with negotiation simulations and role-plays that will take place in sessions, with students negotiating individually or in teams. Information on preparation and outcomes will be collected, participants will assess their behavior and performance and these of their colleagues, and debrief discussions will be conducted to analyze the outcomes and the lessons learned (40% of final mark).

Title: Entrepreneurship & Innovation

Level: Graduate

Year: Second

Trimester: sixth

ECTS: 6

Instructor: Anthony Ioannidis

Educational aim: 

Understanding the field and best practices of entrepreneurship

Understanding and mapping the Greek and the global entrepreneurship ecosystem

Understanding the Process of Innovation and the concept of “Innovation Lab”.

Understanding business plan design, presentation (pitching), and financing.

Practicing business plan for a technological innovation case in class

Identifying and understanding the institutional forces and mechanisms for entrepreneurial success in Greece and internationally

Understanding and practicing entrepreneurial skills

Educational Prerequisites: No

Syllabus

Introduction to Entrepreneurship

Innovation Process & Ecosystem

Entrepreneurial Process & Ecosystem

Innovation Lab

Global Entrepreneurship Indices and Performance Indicators 

Business Plan Design and Presentation

Business Plan Financing

Venture Capital & Private Equity

Business Incubators & Business Accelerators

Start Up and Enterprise Valuation Techniques

Industry Clusters

Open Innovation Models

Group Project Presentations (Business Plan for a Technological Innovation)

Suggested Reading

Required Text: Timmons, Spinelli, Papadakis: New Venture Creation: Entrepreneurship for the 21st Century, Utopia, 2015

Instructor’s Notes: available in eClass

Teaching Methods:

Lectures

Discussion of Case Studies 

Business Plan (Technology Innovation) formation and presentation

Entrepreneurship Simulation

Group Project Presentations (Business Plans – Technology Innovation)

Final Examination

Evaluation Methods:

Final Examination: 60%

Group Project (Start-Up Business Plan): 30%

Class Participation: 10%

Teaching Language: Greek

BASIC INFORMATION ABOUT THE COURSE

Title: Strategic Change Management

Credit Rating: 6 credit units

Prerequisites:    

Instructor: Anastasios Magoutas, Associate Professor, National and Kapodistrian University of Athens (EKPA)

Alexandros Papalexandris, Associate Professor, Athens University of Economics and Business (AUEB) 

Teaching Methods: The course is taught once a week with a three-hour lecture.

Consultation Time/Tutorials:     

Contact email:   Anastasios Magoutas: amagoutas@ba.uoa.gr

Alexandros Papalexandris: alexp@aueb.gr

AIM OF THE COURSE

The concept of change is not new. Indeed, change is always recognized as necessary and inherent in all aspects of life. However, the past decade has been, for most organizations, a time of unprecedented and seemingly accelerated change. Although organizations must change in order to adapt to external and/or internal developments, implementing change can be very difficult. There is evidence that up to 70% of all major change efforts fail. In this dynamic and hypercompetitive environment, the success or even survival of businesses depends heavily on their adaptive abilities.

The purpose of this course is to familiarize students with a variety of economic and managerial circumstances, in which strategic changes are necessary, and with the use of real case studies, help them understand the process of change as well to present a strategic framework of change management.

STUDY AND ATTENDANCE

The educational material is covered in the lectures of the course. The lectures include a presentation of the theoretical framework and discussions on it, case study analyses and the projection of audiovisual material. Student attendance at lectures is compulsory and is the recommended method for optimal understanding of the course topics. Finally, the personal study of the educational material by the students is an essential part that completes the learning process.

LEARNING OUTCOMES

Upon completion of the course, students will be able to:

1.      Understand change as an organizational phenomenon and present a clear view of the theory and practice of managing change.

2.      Identify and explain different organizational change types.

3.      Appraise all factors relevant to change and also, the methods of identifying, planning and implementing change.

4.      Evaluate employees’ emotional reactions to change and manage them effectively.

5.      Apply the theories, approaches and beliefs available to guide employees’ and managers’ action, in order to make informed choices when instigating and implementing change.

6.      Develop ideas, actions and strategies for managing change in the workplace.

RECOMMENDED READING

Bibliography – Indicative literature

Greek

1.      Παπαδάκης Β. (2018). Επίκαιρα Θέματα Στρατηγικής των Επιχειρήσεων, Εκδόσεις Μπένου, κεφ. 3.

2.      Παπαδάκης, Β. (2023). Στρατηγική των Επιχειρήσεων: θεωρία και Μελέτες Περιπτώσεων. Εκδόσεις Μπένου.

English

1.      Whittington,  D. Angwin, P. Renger, G. Johnson, K. Scholes, 2023. Exploring Strategy Pearson, 13th Edition, chapter 13.

2.      Balogun, J., Hope Hailey, V. and Gustafsson, S. 2016. Exploring Strategic Change. Pearson: Harlow (4th edition): Chapter 2, section 2.2

3.      Burnes, B. (2017). Managing change. Harlow, England: Pearson. (Προτεινόμενο)

4.      Alvesson, M., &  Sveningsson, S. (2007). Changing Organizational Culture, London: Routledge.

Bibliography – Indicative research articles

1.      Badrtalei, J., & Bates, D. L. (2007). Effect of Organizational Cultures on Mergers and Acquisitons: The Case of Daimler Chrysler. International Journal of Management, 24(2), 303-317.

2.      Dievernich, F. E., Tokarski, K. O., & Gong, J. (2016). Change Management and the Human Factor, Basel, Switzerland: Springer International Publishing.

3.      Johnson, G, Yip, G and Hensmans, M (2012) Achieving Successful Strategic Transformation, MIT Sloan Management Review, Vol 53, 3, 25‐32.

4.      Kotter, J. P. (1995). Leading Change: Why transformation efforts fail, Harvard Business Review, 73(2), 59-67.

5.      Lau, C. M., & Woodman, R. 1995. Understanding organizational change: a schematic perspective, Academy of Management Journal, 38(2), 537-554.

6.      Oreg, S., Vakola, M., & Armenakis, A. (2011). Change recipients’ reactions to organizational change: a 60-year review of quantitative studies, Journal of Applied Behavioral Science, 47(4), 461–524.

7.      Van de Ven AH, Poole MS. (1995). Explaining Development and Change in Organizations. Academy of Management Review 20(3): 510‐540

SYLLABUS

1.        Introduction to Change Management.

2.        The importance of change: What changes and how.

3.        Why is it difficult for organizations to transform themselves/change?

4.        Implementation (and possible barriers) encountered in strategic change efforts: a reflection on employee attitudes and organizational culture

5.        Ways of effective change management for achieving competitive advantage.

6.        Effective change management in reversal of negative results (Resolution) and in acquisitions - mergers - strategic alliances

EVALUATION

The assessment of the course will be based on a group assignment (50% of the final grade for the course) and examination of the assignment (50% of the final grade for the course) which will take place during the date/time of the exams.

• BASIC INFORMATION ABOUT THE COURSE

   

  Title: AI-Enhanced Financial Reporting Analysis

  Number of ECTS: 6

  Prerequisite: Financial Reporting and Analysis

  Instructor: Emmanouil Dedoulis

  Year of Study: 2nd year, elective

  Teaching Methods: This course will be delivered through a dynamic blend of lectures, case studies, fishbowl conversations, and group assignment analyses, to foster interactive learning and critical thinking. A significant focus will be placed on the practical application of AI tools for analyzing financial reports.

  Consultation Time/Tutorials:         TBA

  Associate Professor in Accounting, AUEB,

  Tel: 0030 210 8203453

  Email: ededoulis@aueb.gr

   

  I.                          Aim of the Course

  The "AI-Enhanced Financial Reporting Analysis" course provides participants with the advanced capabilities of artificial intelligence (AI) for insightful financial reporting and strategic decision-making. Building upon the fundamentals of financial accounting and analysis, this program delves into AI's capacity for performing in-depth analyses of financial data. Participants will learn to use AI tools to identify key financial indicators, such as negative equity, excessive debt, and prolonged losses, facilitating informed investment decisions and trend forecasting. Central to the course is the practical application of AI for the instantaneous computation and interpretation of financial ratios, trends, and common size analyses, set against the backdrop of crucial firm-specific, industry-wide, and macroeconomic information. This hands-on experience in AI-enhanced financial reporting analysis not only broadens theoretical knowledge but also equips students with the skills needed to navigate and respond to the corporate dynamic demands effectively.

  II.                        Learning Outcomes

  After completing the course, students will be in position to:

  ·        Develop the capability to analyze financial statements critically, applying both conventional approaches and AI-enhanced methodologies.

  ·        Use AI tools to identify and evaluate key financial indicators and their implications for organizational strategy and performance.

  ·        Demonstrate the ability to make informed investment decisions and create reliable financial projections, grounded in a deep understanding of financial data analysis.

  ·        Cultivate a comprehensive understanding of ethical considerations in financial analysis and decision-making, emphasizing integrity and accountability in professional practices.

  III.                     Course Material – Recommended Readings

  ·       Higgins, R., Koski, J., Mitton, T. (2019). Analysis for Financial Management. McGraw Hill education, 12th edition,

  ·       Libby, R., Libby, P. A., & F. Hodge. (2020). Financial Accounting. McGraw-Hill, 10th ed. (Global edi-tion)Robinson, T., and P. Munter. 2004. “Financial Reporting Quality: Red Flags and Accounting Warning Signs.” Commercial Lending Review, vol. 19, no. 1:2–15.

  papers:     

  ·       Wang, X. (2020). Research on the transition from financial accounting to management accounting in the era of artificial intelligence. In Proceedings of the 2020 5th International Conference on Mechanical, Control and Computer Engineering (ICMCCE 2020) (pp. 1369–1373). IEEE.

  ·       Estep, C., Griffith, E. E., & MacKenzie, N. L. (2023). How do financial executives respond to the use of artificial intelligence in financial reporting and auditing? (January 5, 2023). Review of Accounting Studies, forthcoming. doi.org/10.1007/s11142-023-09771-y, Available at SSRN: https://ssrn.com/abstract=3974946 or http://dx.doi.org/10.2139/ssrn.3974946

  ·       Kureljusic, M., & Karger, E. (2024). Forecasting in financial accounting with artificial intelligence – A systematic literature review and future research agenda. Journal of Applied Accounting Research, 25(1), 81–104.

  ·       Van Greuning, H., & Brajovic Bratanovic, S. (2003). Analyzing and Managing Banking Risk: A Framework for Assessing Corporate Governance and Financial Risk. Washington, DC: World Bank.

  ·        Piotroski, J. D. (2000). Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers. Journal of Accounting Research, 38(Supplement), 1–41.

  ·        Altman, E. I. (2013). Predicting Financial Distress of Companies: Revisiting the Z-Score and Zeta Models. In M. Prokopczuk, C. Brooks, & A. R. Bell (Eds.), Handbook of Research Methods and Applications in Empirical Finance (pp. 428-456).

   

  IV.                    Course Evaluation – Assessment Methods

  Final Exam (60% of Total Grade): The final exam is designed to assess students' proficiency in applying financial statements and related data to make foundational decisions concerning an organization, alongside evaluating its performance, liquidity, solvency, capital structure, and overall financial position.

  Final Case/Assignment Presentation (40% of Total Grade): In the course's concluding lecture, students are required to present a comprehensive case study or assignment with the use of AI. This presentation and the subsequent discussion serve as a platform to gauge students' understanding of financial statements and their ability to critically evaluate a firm's financial position and performance. Additionally, this assessment will consider presentation skills, teamwork, and the effectiveness of argumentation and justification provided by the students.

• BASIC INFORMATION ABOUT THE COURSE

  
  Title: ORGANIZATIONAL BEHAVIOUR

  Credit Rating: 6

  Prerequisites: None

  Instructor: Athanasia Bouranta

  Teaching Methods: The course includes lectures, group exercises, role-playing, self-assessment exercises, case studies, educational videos, and discussions of relevant papers.

  Consultation Time/Tutorials: Students can contact the professor online or in person, by prior arrangement. 

  Contact email: nbouranta@unipi.gr

   

  AIM OF THE COURSE

  Organisational behaviour is an applied science that draws on concepts and tools from other disciplines, such as psychology, sociology, anthropology and political science, to understand, predict and manage human behaviour within an organisational context.

  STUDY AND ATTENDANCE

  As the course is based on experiential learning, student participation in lectures is mandatory. Students must also access the e-class platform, which contains presentations, articles and case studies related to the course. The aim of this course is to help students understand Organisational Behaviour theories and encourage them to apply them in practice.

  LEARNING OUTCOMES

  Upon completion of the course, students should be able to:

  ·         become familiar with Organizational Behavior theories and concepts

  ·         interpret the behaviour of individuals and groups in the workplace

  ·         understand the relationship between attitudes/values and employees' behaviour

  ·         identify factors that influence perception and avoid perceptual biases

  ·         learn to work harmoniously with other team members

  ·         improve their communication skills

  ·         recognise the unique characteristics of employees and the work environment.

   

  RECOMMENDED READING

  ·         Buchanan, D.A. and Huczynski, A.A. (2020), Organizational Behavior, New York: Pearson.

  ·         Colquitt, J., LePine, J. and Wesson, M. (2025), Organizational Behaviour. Improving Performance and Commitment in the Workplace, New York:McGraw-Hill Irwin.

  ·         Robbins, S.P. (2021), Organizational Behavior, New York: Pearson.

  ·         Wilson, M.F. (2023), Organizational Behaviour and Work: A Critical Introduction, Oxford: Oxford University Press.

  In addition, articles from academic journals are provided to help students develop a deeper understanding of the topics covered in the lectures. Lecture content is available on e-class in the form of PowerPoint files, which students can access using their login credentials. Students are also recommended to consult scientific journals and websites to further their study and engagement with the field, where they can find interesting studies and stay informed about current developments.

   

  Journals:

  ·         Academy of Management Journal

  ·         Academy of Management Review

  ·         British Journal of Management

  ·         Career Development International

  ·         Employee Relations

  ·         European Journal of Work and Organizational Psychology

  ·         Human Performance

  ·         Human Relations

  ·         Human Resource Management

  ·         International Review of Industrial and Organizational Psychology

  ·         International Journal of Selection and Assessment

  ·         Journal of Applied Psychology

  ·         Journal of Human Resource Management

  ·         Journal of Managerial Psychology

  ·         Journal of Organizational Behavior

  ·         Journal of Occupational and Organizational Psychology

  ·         Journal of Vocational Behavior

  Websites:

  ·         Society of Industrial and Organizational Psychology (http://www.siop.org)

  ·         European Association of Work and Organizational Psychology (http://www.eawop.org)

  ·         British Psychological Society (http://www.bps.org.uk)

  ·         American Psychological Association (http://www.apa.org)

  ·         Society for Human Resources Management (http://www.shrm.org)

  ·         Chartered Institute of Personnel and Development (http://www.cipd.co.uk)

  SYLLABUS

  ·         Basic concepts of Organisational Behaviour

  ·         Individual differences

  ·         Work attitudes and Values

  ·         Perception and perceptual biases

  ·         Effective communication

  ·         Group Dynamics

  ·         Organisational culture

   

  EVALUATION

  Student performance is primarily assessed based on the final written exam. Students can earn additional credits by working on case studies and completing a group written assignment.

  Case study and written assignment: 20 credits

   

  The written exam includes:

  - 20 multiple-choice questions (30%);

  - one case study with 3–4 short-answer questions (70%).

  Information regarding the assessment criteria is provided on e-class. The professor will also provide relevant information in class.

   

1. GENERAL

SCHOOL

School of Business

ACADEMIC UNIT

Department of Business Administration & Department of Marketing and Communication

LEVEL OF STUDIES

Master

COURSE CODE

bm23205f

SEMESTER

3

COURSE TITLE

Consumer Behavior

INDEPENDENT TEACHING ACTIVITIES

if credits are awarded for separate components of the course, e.g. lectures, laboratory exercises, etc. If the credits are awarded for the whole of the course, give the weekly teaching hours and the total credits

WEEKLY TEACHING HOURS

COURSE TYPE

general background,

special background, specialised general knowledge, skills development

Specialization Elective

PREREQUISITE COURSES:

No

LANGUAGE OF INSTRUCTION and EXAMINATIONS:

Greek

IS THE COURSE OFFERED TO ERASMUS STUDENTS

No

COURSE WEBSITE (URL)

https://www.mba.aueb.gr/index.php/en/program/programstructure

2. LEARNING OUTCOMES

Learning outcomes

The course learning outcomes, specific knowledge, skills and competences of an appropriate level, which the students will acquire with the successful completion of the course are described.

Consult Appendix A

• Description of the level of learning outcomes for each qualifications cycle, according to the Qualifications Framework of the European Higher Education Area

• Descriptors for Levels 6, 7 & 8 of the European Qualifications Framework for Lifelong Learning and Appendix B

• Guidelines for writing Learning Outcomes

• Acquiring a customer problem-solving analysis framework.

• Understanding how customer behavior can be influenced by different marketing strategies.

• Understanding how empirical data regarding customer behavior can be used for assessing alternative marketing strategies.

•Developing a deeper understanding of customer behavior through related theories from psychology and sociology.

• Developing a mindset oriented to customer service and experience.

General Competences

Taking into consideration the general competences that the degree-holder must acquire (as these appear in the Diploma Supplement and appear below), at which of the following does the course aim?

Search for, analysis and synthesis of data and information, with the use of the necessary technology

Adapting to new situations

Decision-making

Working independently

Team work

Working in an international environment

Working in an interdisciplinary environment

Production of new research ideas

Project planning and management

Respect for difference and multiculturalism

Respect for the natural environment

Showing social, professional and ethical responsibility and sensitivity to gender issues

Criticism and self-criticism

Production of free, creative and inductive thinking

……

Others…

…….

Search for, analysis and synthesis of data and information, with the use of the necessary technology

Adapting to new situations

Decision-making

Team work

Working in an interdisciplinary environment

Project planning and management

Production of free, creative and inductive thinking

3. SYLLABUS

Consumer Behavior and Marketing Strategy

• Cross-cultural Differences in Customer Behavior

• Group Influences on Customer Behavior

• Consumer Perception

• Learning, Memory, and Product Positioning

• Motives, Personality, and emotions

• Attitude Formation, Measurement and (Strategies for) Change.

• Self-Perception and Life Style (Psychographic Characteristics)

• Situational Influences

• Consumer Decision-Making Processes and Problem Recognition

• Store Selection and Shopping Behavior

• Intro. to Customer Experience (CX) and its Management (CXM)

4. TEACHING and LEARNING METHODS - EVALUATION

DELIVERY

Face-to-face, Distance learning, etc.

Face to Face

USE OF INFORMATION AND COMMUNICATIONS TECHNOLOGY

Use of ICT in teaching, laboratory education, communication with students

Yes

TEACHING METHODS

The manner and methods of teaching are described in detail.

Lectures, seminars, laboratory practice, fieldwork, study and analysis of bibliography, tutorials, placements, clinical practice, art workshop, interactive teaching, educational visits, project, essay writing, artistic creativity, etc.

The student's study hours for each learning activity are given as well as the hours of non-directed study according to the principles of the ECTS

Activity

Semester workload

lectures

43

independent study

54

case analyses

5

guest lectures

3

team project

35

project writeup & presentation

10

Course total

150

STUDENT PERFORMANCE EVALUATION

Description of the evaluation procedure

Language of evaluation, methods of evaluation, summative or conclusive, multiple choice questionnaires, short-answer questions, open-ended questions, problem solving, written work, essay/report, oral examination, public presentation, laboratory work, clinical examination of patient, art interpretation, other

Specifically-defined evaluation criteria are given, and if and where they are accessible to students.

Final exam, quizzes and case studies, individual and group projects.

5. ATTACHED BIBLIOGRAPHY

- Suggested bibliography:

- Related academic journals:

• Siomkos, G.J. 2018, Consumer Behavior, 5th edition, Broken Hill Publishers (in Greek).

• Hawkins, D.I., Mothersbaugh, D.L. 2012, Consumer Behavior: Building Marketing, 12th edition, McGraw-Hill.

BASIC INFORMATION ABOUT THE COURSE

Title: Marketing Channels & Supply Chain

Credit Rating: 6

Prerequisites: None

Instructor: Dionysios Skarmeas, Panagiotis Repousis

Teaching Methods: Face-to-Face

Consultation Time/Tutorials: D. Skarmeas: Monday 13.00-15.00, P. Repousis: Monday 11.00-13.00

Contact email: dskarmeas@aueb.gr & prepousi@aueb.gr

AIM OF THE COURSE

The purpose of the course is students to understand how the skillful management of the distribution channels and the supply chain of a company can lead to a sustainable competitive advantage. Nowadays, distribution channels are viewed as marketing channels, in that in addition to their selling and physical distribution function they also serve as channels of communication and interaction with the customer. The course includes, among others: distribution channel functions, distribution channel design, go-to-market strategies and direct-to-consumer channels, customer journey mapping, customer touchpoints, customer experience and customer engagement management, online & offline distribution channels, and multichannel vs omnichannel channel strategy. Also, the aim of the course is students to understand the main characteristics and planning parameters of a supply chain, supply chain strategy selection and the optimization, physical distribution efficiency, inventory management, warehouse planning and selection, and inventory management. Teaching includes lectures, case studies, and a simulation game.

STUDY AND ATTENDANCE

The lectures cover a wide range of concepts, strategies, and techniques pertinent in the field of Marketing Channels and Supply Chain, combining theory and practice. The core of the material covered in the lectures will be uploaded to e-class in advance. However, lecture attendance and systematic study of the uploaded material is essential for in-depth understanding of the subject matter of each lecture.

LEARNING OUTCOMES

Upon completion of the course students will be able to:

•  understand how channel management can help firms achieve a competitive advantage

•  design an effective distribution channel and an efficient supply chain

•  understand optimal inventory levels and mix of physical/digital distribution channels

•  describe and explain the transition from multi-channel to omni-channel strategy

•  formulate a customer journey and manage customer experience

•  critically relate supply chain management to customer service

•  comprehend physical distribution and inventory management

•  plan and select of points storage, production and disposal

RECOMMENDED READING

Palmatier, R. W., Stern, L. W., & El-Ansary, A. I. (2019). Marketing channel strategy: An omni-channel approach. Routledge.

Bowersox, J. D., Closs J. D., Cooper, B. M., & Bowersox, C. J. (2016). Logistics: Supply and Distribution Network Management, Broken Hill Publisher.

SYLLABUS

•  Distribution channel management

•  Go-to-market strategy

•  Customer journey mapping

•  Customer experience and engagement strategies

•  Multi-channel vs omni-channel strategy

•  Supply chain management

•  Supply chain planning, coordination, and bullwhip effect

•  Supply chain key decision areas

•  Product distribution strategies

•  Warehouse and inventory management

EVALUATION

Students will be evaluated as follows.

·        Written exam (80%)

•       Assignment (20%)

BASIC INFORMATION ABOUT THE COURSE
Title: MARKETING OF SERVICES

Credit Rating: 6

Prerequisites:

Instructor: KALIPSO KARANTINOU

Teaching Methods: FACE TO FACE

Consultation Time/Tutorials:

Contact email:   kkarantinou@aueb.gr

AIM OF THE COURSE

Services undisputably dominate the business landscape. The services sector is the dominant driving economic force worldwide and marketing and management practices in this field are evolving rapidly to accommodate the challenges that managing services entails. At the same time, the servitization trend in manufacturing and the service-dominant logic make understanding the services practices and the services way of thinking even more broadly relevant for a multitude of organizations across the board and a source of competitive advantage for all businesses. This course aims to enable students to understand the services way of thinking; to appreciate the breadth, the significance, and the centrality of the customer experience; to comprehend the notion of the customer journey and the tools that enable us to analyse it; to appreciate how to manage, enhance, and optimize the customer experience and how to achieve service excellence, via the optimum management of the service provision process, the people involved, and the service enviroment multi-sensory atmospherics. Students are exposed to a number of services management tools and techniques and through the hands-on, practical application approach of the course they learn how to use them by applying them to real life examples.

STUDY AND ATTENDANCE

Teaching follows an interactive and participant-focused format, involving students continuously during the sessions and drawing heavily on the case method of teaching and the field project format. Real life examples as well as hypothetical cases are discussed in class and this enables students to comprehend the practical relevance of the taught models and managerial tools. Students are also asked to put the taught concepts, tools, and techniques in practice, as they are asked to work in groups on three hands-on assignments: creating customer journey maps to analyze the customer experience, developing blueprints to manage the service delivery process, and designing innovative servicescapes to create a holistic, five-senses customer experience. Student presentations, following an elevator’s pitch format, will also form a component of the in-class experience.  Detailed guidelines for all assignments are provided on eclass.

LEARNING OUTCOMES

After successfully completing the course, students will be able to:

1. Develop an appreciation of the services way of thinking and its implications. Understand the challenges in managing services and know how to implement the appropriate methods and utilize the right tools to manage these challenges. Acknowledge the differences in all aspects of customer behavior in services and their managerial implications.

2. Comprehend the methods that can lead to the successful implementation of a customer focus in services. Ascertain the superiority of design thinking and its implications in customer value creation. Develop an appreciation of the necessary ingredients to achieve service excellence. Appraise the different mechanisms that can direct different service organizations to service excellence.

3. Comprehend the centrality of the customer experience for services management. Demonstrate the ability to analyze the customer experience. Design customer journey maps, evaluate the customer experience, and integrate the findings into recommendations for service improvements.

4. Apply the services blueprinting tool and examine the ways through which it enables the optimization of the service process management. Appreciate all the different actions and aspects involved in the service production and delivery process. Question the necessity of addition and/or elimination of steps in the service production and service delivery process.

5. Apply the environmental management perspective in services and appreciate the impact that all the environmental stimuli have on the emotions, cognitions, and behavior of customers and employees. Manage the multiplicity of elements comprising servicescapes and make optimal decisions in servicescape development.

6. Demonstrate knowledge of the centrality of the role of people in services. Appraise the differences in priorities between front office and back office employees in services. Examine the use of internal marketing for human resource management purposes. Formulate optimal strategies for employees and customers management.

RECOMMENDED READING

Readings, business practice examples, academic journal papers, and case studies are uploaded onto eclass every week, illustrating the discussed concepts and their applications, in separate folders, organized by lecture.

1.      Fisk, Raymond P., Grove, Steven J. & John, Joby (2013), Services Marketing Interactive Approach, Fourth Edition, Southwestern Cengage Learning.

2.      Lovelock, C. H. & Wirtz, J. (2007), Services Marketing: People, Technology, Strategy, Sixth Edition, Pearson, Prentice-Hall.

3.      Wirtz, Jochen, Chew, Patricia & Lovelock, Christopher (2012), Essentials of Services Marketing, Second Edition, Pearson Education.

SYLLABUS

EVALUATION

The evaluation is based on the combination of the individual performance in the final examination and the group performance on the assignments.

Final Exam: 70%

The examination process follows a question and lengthy answers format.

Assignments: 30%

Students are asked to work in groups on three hands-on assignments, applying in practice taught models, tools, and constructs.

ATHENS UNIVERSITY OF ECONOMICS AND BUSINESS

INTERDEPARTMENTAL MBA PROGRAMME

Department of Business Administration & Department of Management Science and Marketing

Course: Business Regulations and Financial Markets

Credit units: 6

Course type: elective

Course level:

Tutor: Christina Tarnanidou, Professor of Commercial Law and Financial Markets Law

·         E-mail:  chtarn@aueb.gr

·         Web: https://www.aueb.gr/en/faculty_page/tarnanidou-christina

·         Office: 80, Patission st., 1st floor, Tel: 210 - 8203 439

I. Course Overview

The subject matter of the course refers to the modern company and its profile in the commercial and financial markets.

Modern companies are of particular interest not only as a structure of operations but also as a vehicle of fund raising. In our country, references generally focus on the Société Anonyme (SA) which to a great extent operates as an issuer of securities listed on financial markets (issuing company).

The regulations of modern companies concern the economy and investments. Regulations create channels that encourage the companies’ financing, their connection with the ecosystem of business and trades in a more effective manner, as well as the investing in the form of access to n securities issuances addressed to the markets (IPO/secondary markets). In this context, the course examines various issues of practical interest that arise in relation to the functioning of the modern company.

The course is divided into four modules that have as follows:

1. Regulations on setting up and organizing the company  

2. Regulations on the financing operations   

3. Management and governance

4. Business cases and practical exercises

II. Relationship of Course to Rest of Curriculum

The course “Business Regulations and Financial Markets” is a key knowledge and experience for running a business and emphasising on governance matters and financing. For this reason, the course is directly connected with all other courses of the program.

III. Learning Outcomes

At the end of the course, students are expected to be in a position to:

1. have understood the basic concepts and principles of the regulations of modern business.

2. gain knowledge and skills about the operation of the capital markets and the channels of financing.

3. critically evaluate issues of organization and functioning of the company and its link to markets.

4. have a clear view of the content of the corporate life and the rules of corporate governance.

5. use techniques and tools in practice regarding matters of corporate governance and structuring of corporate financing.

IV. Course content in brief (based on the textbook)

1. Regulations on setting up and organizing the company

- Capital characteristics of the company - Forms of capital participations – Shareholders relationship - Consequences

- Practical issues during the initial phase: Incorporation - Shareholding arrangements - Coverage & payment of capital

- The company as a cornerstone of markets and as a financial instrument 

- Articles of association & organization of the business - Key points of business operation

- Issues of concern during the incorporation of the business

1. Regulations on the financing operation

- The financing of the company through the markets – Agreements for raising capital – The company as a vehicle of fund raising

- Structuring of securities issuances – Book entry securities systems - Shareholders rights

- Financing channels and their importance for the economy and the investments (regulated markets, alternative platforms, etc.)

- The specific organization of the company to meet its obligations: compliance & financial markets

- Corporate audit issues - The auditors (Infringements - Capital Market)

- The pathology of market manipulation

1. Management and governance

- The organizational structure of the company - "Agency theory" & decision-making/management power – Financing dynamic – Investments

- Corporate powers and responsibilities for the decision-making process (functioning and roles of the corporate bodies (e.g. Board of Directors, General Meeting)

- The process of undertaking a company decision – Mechanics, malfunctions, and consequences

- The challenge of shareholders activism  

- The governance of the company - Corporate schemes and functional characteristics

- Qualitative characteristics of corporate governance and board composition (“Fit and proper” of the BoD members, BoD liability (the frame of corporate liability “business judgement rule”, liability assessment and cases of exemption)

- Governance - Modern frameworks and structures - The institutional model of management and governance in Greece - Other corporate transparency measures ("say on pay", related-party transactions) - Comparative ESG parameters.

1. Business cases and practical exercises

- Conducting of exercises on mock or real scenarios of corporate affairs

- Self-assessing methods based on multiple choice exercises

- Submission of individual or joint essays  

V. Suggested reading material

The basic textbook is:

• Tarnanidou Chr. (2021). Regulation of Commercial Companies with Emphasis on Financial Institutions, Nomiki Bibliothiki Publications [approved university textbook].

Other textbooks:

• Class material (Power Point slides, assignments, short papers, etc.) is distributed to students via the platform e-class and/or via e-mail.

VI. Teaching methods

There is a two-hour lecture per each week and the tutorial process lasts for 13 weeks. Attendance of these classes is of outmost importance, as the material covered is not repeated in the lectures of the course.

In addition to lectures, students are expected to proceed to significant study program by their own and practice with the use of means and tools of the course (students’ interaction by using the practice methods of the course, searching material through the internet, etc.).

VII. Course evaluation

The course will be assessed by means of a final end-of-course written examination on the material covered. In addition, students are expected to conclude projects and essays on practical business cases related to the material of the course, exercises in a multiple-choice form as well as self-assessment.