Accounting and Finance and Economics

Finance (Finance and Management) - MSc

2019

Gain a comprehensive framework of knowledge, insight and vision regarding the key issues in financial management and international business. The MSc in Finance (Finance and Management) pathway develops your cognitive, critical, intellectual and research skills, plus relevant personal and interpersonal skills to interact in the real world of business and finance.

2019

Overview

In today’s competitive global environment, employers are increasingly selective in their search for competent business and finance professionals. Our Master’s in Finance programmes equip you with a solid background in financial principles and practices and help to cultivate your practical finance skills and real-world business knowledge.

The Finance and Management pathway is aimed at students intending to pursue a career in business, banking, financial institutions, regulatory bodies, international organisations or government institutions. In particular, it is offered to those who wish to understand international financial management in theory and practice.

This programme provides you with the latest knowledge in corporate finance, financial markets, risk management and global business management. You will learn practical key skills required in the job market to produce relevant financial analysis of corporate companies, financial institutions or other bodies where finance is an important activity both in the public and private sectors.

You will attend a series of guest lectures delivered by experts from the City of London and senior-level decision makers from industry. Professor Moorad Choudry, convenor of the Bank Asset Liability module in 2016, and also Non-Executive Director of Ghana International Bank says, "It is exciting to see a Master's programme that has involved practitioner input as an important part of the early development stage. Having worked with Finance colleagues at KBS to create some core material, I am now looking forward to meeting the students and being part of the delivery team.”

In the 2015 Postgraduate Taught Experience Survey (PTES) the MSc in Finance Suite achieved a 97% student satisfaction rate, placing us in the top quarter of the UK Higher Education sector. PTES is a Higher Education Academy initiative and is carried out among 99 institutions. This result, coupled with our strong performance in the national league tables, underlines the strength of Finance programmes at Kent Business School and quality of our postgraduate teaching.

Quants workshop

Kent Business School offers an optional 1½-week refresher workshop in Mathematics, Statistics and Excel, prior to the start of this programme. See Study Support for full details.

Funding opportunities

The Business School has a wide range of funding opportunities for postgraduate students, which includes Scholarships, Bursaries, the Double Loyalty Scheme for University of Kent undergraduates and the KBS Early Bird Scheme. The Early Bird equates to a 10% discount on tuition fees.

For more information on funding available from the University of Kent, please visit the Student Funding page.

Kent Business School (KBS)

With over 25 years’ experience delivering business education Kent Business School (KBS) is ranked as a top 20 UK business school, both for the standard of our teaching and student satisfaction. Our portfolio of postgraduate programmes demonstrates the breadth and depth of our expertise. Academic research and links with global business inform our teaching, ensuring a curriculum that is relevant and current. We also hold a number of accreditations by professional bodies.

Studying at Kent Business School gives you the opportunity to increase your employability with real-life case studies, a student council and a business society. We have strong links to local and national organisations providing opportunities for projects, internships and graduate placements. The School attracts many high-profile speakers from industry and last year included visits and lectures from staff of the Bank of England, BAE Systems, Barclays, Lloyds Insurance, Cummins, Delphi and Kent County Council.

The School currently has 45 PhD students, who form a dynamic and close-knit research community.

National ratings

In the Research Excellence Framework (REF) 2014, we were placed 25th (out of 101 institutions) in the UK for research intensity in business and management studies and 98% of our research was judged to be of international quality. The School’s environment was judged to be conducive to supporting the development of research of international excellence.

The School was also ranked 24th for its breadth and depth of research across the whole community of research active staff by the Association of Business Schools

Course structure

This programme provides the training required for the Bloomberg Certificate. You will have opportunities for practical work to be carried out in the Business School’s dedicated Bloomberg Lab. The virtual trading platform allows you to access and engage with market data through practical case studies and the use of online databases.

In addition, you will be invited to take part in a programme-wide case competition, which will comprise a company analysis and will be judged by experts from the industry.

Modules

The course structure below provides a sample of the modules available for this programme. Most programmes require you to study a combination of compulsory and optional modules. You may also have the option to take ‘wild’ modules from other programmes offered by the University in order that you may explore other subject areas of interest to you or that may further enhance your employability.

The following modules are offered to our current students. This listing is based on the current curriculum and may change year to year in response to new curriculum developments and innovation:

Modules may include Credits

The indicative topics covered by the module are:

• The Risk-Return Relationship

• The Arbitrage Pricing Theory

• Multifactor Asset Pricing Models

• Dividend Policy

• Mergers and Acquisitions

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15

This module will cover the following indicative topics:

• Investment Appraisal Techniques and Decisions

• Portfolio Theory

• The Capital Asset Pricing Model

• Stock Market Efficiency

• Sources of Finance

• Capital Structure

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15

Business failures in the global financial sector, and the subsequent repercussions for a range of different groups, not just shareholders, have put the spotlight on the role of business and the behaviour of managers. Is business just responsible for maximising profit for its owners, or does it have responsibilities to other groups? This raises a number of difficult questions; which groups? responsible for what? And if so, how to discharge these responsibilities?

The Globalisation and Corporate Responsibility module has three main aims:

• To develop critical thought, insight and debate regarding the changing role of business in today’s society.

• To broaden your views on the role of business in society.

• To provide you with the tools, skills and knowledge to manage responsibly.

The nature of the topic is constantly changing and evolving; therefore the module will be

subject to continual refinement according to developments in industry, government and academia. Specific issues to be covered will include:

• Definitions of Corporate Responsibility

• The Role of Business and Society

• Theories of Corporate Responsibility

• Ethics Theory

• Business Ethics and Corporate Governance

• Areas of Corporate Responsibility

• Firm Level Responses

• Social Accounting

• Criticisms of Corporate Responsibility

• Social Entrepreneurship

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15

Indicative topics are:

• Financial markets and their role for economic activity

• Historical overview of financial markets

• Financial markets in US, UK, Europe and Japan

• Emerging financial markets (BRICS)

• Equity

• Bonds

• Derivatives

• Alternative Investments

• Credit Markets

• Asset Backed Securities and securitization

• Energy markets (oil, gas, CO2, weather, electricity)

• Exchange rate markets

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15

This module develops the necessary knowledge and skills for students to be able to successfully complete a business report/dissertation proposal. Indicative topics are:

• Choosing a company for analysis/ the finance topic of interest

• Identifying suitable finance issues relevant to the chosen company

• Searching and reviewing the literature and Bloomberg

• Choosing suitable methods and approaches for analysing the chosen company

• Preparing the business report/dissertation proposal

• Structuring the business report/dissertation

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15

Indicative topics are:

• Introduction to OB and HRM

• Strategic HRM

• Performance Management

• Strategic Recruitment and Selection

• Diversity and Equal Opportunity in the Workplace

• Organisational Culture and International HRM

• Reward Management

• Learning and Training at Work

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15

The aims of the module are to:

• Develop an appreciation of the complexity and diversity associated with doing business internationally.

• Provide an overview of the major theories and concepts which have been developed by academics and practitioners in order to understand the international business

arena.

• Offer some practical solutions to the problems faced by the international business community.

• Derive insights which will enable students to effectively play part in managing resources across national boundaries within their organisation, at present or in the

future.

Business in an International Perspective is an exploration of an area that is highly topical within the practice of management and scholarly research. The chances are high indeed that, at some time during their career, today's MSc graduates will work for an international organisation, an international market research company or a multinational enterprise. The notion of purely domestic organisation is becoming more and more difficult to substantiate. The module adopts an analytical and critical perspective to the somewhat prescriptive literature which is associated with this contentious problem area.

The topics addressed in this module will include:

• International business and international trade theory

• Cultural factors and their impact on business, including human resource management

• Risk analysis, country risk and the consequences for trade and investment

• Government-business relations and market regulation

• International organisations and international business: GATT/WTO and multilateral trade issues

• The world financial environment and the multinational finance function: foreign exchange markets, business implications of exchange rate changes

• Corporate social responsibility and the impact of international business on various stakeholders

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15

This module aims to develop the ability to analyse financial crises and bank regulation, examining the roots, consequences and remedies for the financial crises with the special emphasis on the current global financial crisis. The module also aims to understand the complexity of the financial crisis and the role of bank regulation.

The module will cover topics including the Financial Crisis, banking supervision and regulation, the Basle Accord, banking failures, rating agencies and Financial Crisis, the role of international financial institutions.

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15

The strategy module has two main learning components:

• Acquiring theory and concepts in strategy and strategic management.

• Application of theory and concepts to the analysis of organisations.

The aim is to critically examine and provide insights into the practice and process of strategic management within a variety of private and public sector organisations.

What actions can employees pursue in order to attain superior performance for their organisation relative to their competitors? This course is designed to allow students to develop their skills of strategic analysis and their ability to think about the selection and implementation of appropriate strategies in different industry contexts and in different types and styles of organisations, including non-profit and public sector organisations.

Indicative topics include:

• What is Strategy, and Why is it Important?

• The Context of Strategy

• Competitive Strategy and Strategic Choices

• Resource Based Strategy

• Managing Strategic Change

• Corporate Social Responsibility

• Strategy in the Food sector

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15

Indicative topics are:

Introduction of default risk concept and credit risk-related securities.

Credit rankings (internal and external rating) and the role of credit rating agencies, credit migration.

Default prediction and credit scoring models.

Default dependencies.

Credit risk portfolio models (risk-adjusted performance, stress-testing portfolio losses).

Corporate bonds and yield spreads.

Default risk pricing models (structural models and reduced-form models).

Market default models: (CreditRisk+, Credit Metrics™, KMV model).

Credit derivatives and credit risks of derivatives.

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15

This module assumes basic knowledge and understanding of risk-return relationship, portfolio theory, and CAPM. It considers the investment and portfolio management decision in more detail by first examining the asset allocation decision and investments in a global context. It then attempts to evaluate different types of securities (bonds and stocks) in which investments can be made using a three-step top-down approach consisting of macro- and micro-market analysis, industry analysis and finally, company analysis. It then critically examines different equity portfolio management and performance evaluation strategies.

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15

Understanding the Multinational Enterprise (MNE) and Foreign Direct Investment (FDI) is a key issue in economic theory and business. Since the emergence of the contemporary MNE at the end of the 19th century, changes in the macroeconomic and microeconomic environment, forced multinationals to change as a response to the rise of new technologies and products, the wider international division of labour and of course the greater integration of production, services, and – financial and other – markets. This changing process became more intense after the 1960s when U.S. and Japanese MNEs emerged as basic players in the international chessboard. Accompanied by the traditional European MNEs formed a triad that still dominates FDI in the world.

The changing geography of international production and investment reflects the dynamic interaction of many economic, organizational and policy factors. While many of these factors have long been relevant, their combination today represents the new forces influencing MNEs' location decisions. A simplistic approach of FDI towards location would not be appropriate to allow us to understand the complexity of international investments decisions. What is needed is a multidisciplinary approach of the phenomenon. It is the aim of this module to offer this multidisciplinary approach to students.

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15

By applying appropriate research methods, students employ relevant finance techniques to evaluate a chosen company. Analysis about the company’s financial practices and performance is then drawn together and presented in a report format.

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45

Teaching and Assessment

The programme involves a taught and a project component. The taught programme is assessed by a mixture of coursework assignments throughout the year, and by examinations in May and June. Once these are completed, you work full time on the Business Report in Finance.

Programme aims

This programme aims to:

  • Develop students’ existing skills and knowledge and to provide students’ with an advanced conceptual understanding of the key issues in Finance/Financial Management
  • Provide students with the knowledge to be able to evaluate relevant literature critically
  • Provide students with a theoretical framework so as to understand, interpret and analyse key issues in finance
  • Provide students with knowledge of research methodologies adopted in empirical research
  • Provide students with the skills to test and evaluate theoretical models
  • Develop an appropriate range of cognitive, critical and intellectual skills, research skills and relevant personal and interpersonal skills
  • Provide preparation for and/or development of a career in the field of Finance/Financial Management by developing skills at a professional or equivalent level, or as preparation for research  or further study in the area
  • Add value to a first degree by developing in individuals an integrated and critical awareness and understanding in the field of financial services
  • Provide teaching and learning opportunities that are informed by high quality research and scholarships, from within the Kent Business School and elsewhere. Develop students’ ability to develop independent self-directed research

Learning outcomes

Knowledge and understanding

You gain the following knowledge and understanding

  • The advanced concepts and theory within the field of finance and their application to         company’s financial decisions
  • The research methodologies to test and evaluate finance and economic models
  • Theoretical and practical aspects of key areas of finance
  • Up to date relevant empirical literature in the fields of finance
  • Approaches to financial analysis, evaluation of relevant information and preparation of related reports
  • The impact of contextual forces on the organisational functions of finance and management

Intellectual skills

You gain the following intellectual skills:

  • Critical thinking and creativity. Including the capability to identify assumptions, evaluate    statements, and generalise appropriately
  • Ability to solve complex problems and make decisions
  • Ability to select, organise, develop and synthesise complex material
  • Analytical skills necessary for the analysis of problems and the identification of appropriate solutions
  • Ability to plan work and study independently and use relevant resources in a away which reflects best current practice and anticipated future practice.
  • Plan, structure, and produce a dissertation, business report or project

Subject-specific skills

You gain the following subject-specific skills:

  • Ability to interpret financial data and perform quantitative analysis
  • Ability to interpret and evaluate the results obtained from quantitative analysis
  • Ability to apply theories to practical and theoretical problems
  • Ability to demonstrate problem solving skills
  • Ability to analyse important issues relevant for companies’ financial decisions
  • Ability to conduct research in Finance issues
  • Ability to formulate and solve business problems; ability to create, identify and evaluate options; ability to implement and review decisions

Transferable skills

You gain the following transferable skills:

  • Development of numeracy and quantitative skills
  • Communication skills; listening, oral, and written communication using a range of media   
  • Effective use of communication and Information technology
  • Ability to undertake independent and self-managed learning
  • Capacity for self-development and continuous learning
  • Effective performance within a team environment and the ability to recognise and utilise others’ contributions in group processes

Careers

You gain much more than an academic qualification when you graduate from Kent Business School – we enhance your student experience and accelerate your career prospects. Our finance programmes equip you with an impressive set of skills and specialist knowledge. In addition, inbuilt practical experience will help you succeed in a competitive job market.

This pathway is ideal preparation for a career in business, banking, financial institutions, regulatory bodies or government bodies. You can also enter other industries with an invaluable blend of finance and management skills. 

Careers in finance continue to provide exceptional earning potential in the UK and globally; the very highest-paying job specialisms in the finance sector include structurer, trader, M&A and fund management (13 May 2016, City A.M.).

Our students have an excellent record for employment. Recent graduates are now working in top global companies including AXA, BNP Paribas, FactSet, HSBC, PwC, Santander, Thomson Reuters, USB Investment Bank and Zurich Financial Services.


Professional recognition

Kent Business School is a member of the European Foundation for Management Development (EFMD) and the Chartered Association of Business Schools (CABS); and the Kent MBA is an Association of MBAs (AMBA) accredited programme. In addition, KBS have accreditations with The Chartered Institute of Personnel and Development (CIPD) and The Chartered Institute of Logistics and Transport (CILT).

KBS is a signatory of the United Nations' Principles for Responsible Management Education (PRME), which provides a global network for academic institutions to advance corporate sustainability and social responsibility.

Study support

Quants workshop

Kent Business School (KBS) offers an optional 1½-week refresher quantitative skills workshop in Mathematics, Statistics and Excel, prior to the start of your main MSc programme. The workshop is offered at no extra tuition cost; however, students will need to make their own accommodation arrangements and register to attend via the online booking form.

The workshop will refresh your knowledge of the quantitative concepts and techniques needed for your Master's studies. It is organised as a series of short lectures and practical workshops, and you will have the opportunity to go through a series of theoretical and practical exercises with staff from the School. There will be no assessment at the end of the course.

If you have accepted a formal offer for this programme and you would like to attend the workshop, please register to secure your place.

Full details and how to register.

Postgraduate resources

Kent Business School occupies a purpose-designed building consisting of executive learning facilities with wireless provision throughout. Each postgraduate student is assigned a specific member of academic staff who acts as your first point of contact throughout your studies. There is a lively postgraduate community at the School, with plenty of space to relax and interact with your fellow students and our academic staff.

On the Canterbury Campus, Kent Business School recently moved into a new academic building, known as The Sibson Building, a vibrant new campus destination. This state-of-the-art building includes lecture theatres, seminar rooms, dedicated MBA, PhD and IT suites. These new learning and teaching spaces, as well as modern social and breakout areas, encapsulate Kent Business School’s academic values and identity.

New academic facilities and social spaces for Kent Business School at Medway have also recently opened. The Sail and Colour Loft features six seminar rooms, a group learning room, a computer suite, quiet study areas, student social spaces and a special reference collection of core text books. Kent’s libraries offer over a million books, periodicals and journals, and we have subject-specific librarians to help you secure access to the information you need.

We also offer excellent teaching facilities with tailor-made specialist resources. Postgraduate students can access a range of specialist software packages used in quantitative analysis and in finance. Most academic schools have specific study areas for postgraduates and there is also a general postgraduate common room with work area.

An international focus

Kent Business School has more than 40 internationally recognised academics from 23 different countries. Most of our teaching faculty are involved with researching the latest issues in business and management, working with organisations to provide new insight for business leaders and policymakers. Their knowledge and findings feed into the programmes to ensure they are both cutting-edge and globally relevant.

Worldwide partnerships

Kent Business School has close links with a number of European institutions including Neoma Business School, Jean Moulin University Lyon III and Rennes School of Business in France; EBS University of Business and Law, Germany; IE University, Madrid and LIUC Università Carlo Cattaneo in Italy.  Our international partners include Hong Kong Baptist University where we offer dual Masters programmes in both Finance and Business Analytics; City University of Hong Kong; Renmin University of China and Universiti Teknologi, Malaysia.

Dynamic publishing culture

Staff publish regularly and widely in journals, conference proceedings and books. Among others, they have recently contributed to: Applied Mathematical Finance; International Journal of Financial Economics and Econometrics; European Journal of Finance; Journal of Banking and Finance; International Journal of Theoretical and Applied Finance.

Global Skills Award

All students registered for a taught Master's programme are eligible to apply for a place on our Global Skills Award Programme. The programme is designed to broaden your understanding of global issues and current affairs as well as to develop personal skills which will enhance your employability.  

Entry requirements

Qualification requirements

Students who wish to apply for a higher degree should have a good honours degree from the UK (minimum 2:2) or equivalent internationally recognised qualifications in a finance, accounting, economics, business, mathematics or engineering related discipline.

Applicants without an honours degree may also be considered on the basis of work experience, professional qualifications and the relevance of the programme to their current professional role.

All applicants are considered on an individual basis and additional qualifications, and professional qualifications and experience will also be taken into account when considering applications. 

International students

Please see our International Student website for entry requirements by country and other relevant information for your country. 

English language entry requirements

The University requires all non-native speakers of English to reach a minimum standard of proficiency in written and spoken English before beginning a postgraduate degree. Certain subjects require a higher level.

For detailed information see our English language requirements web pages. 

Need help with English?

Please note that if you are required to meet an English language condition, we offer a number of pre-sessional courses in English for Academic Purposes through Kent International Pathways.

Research areas

Research activities at Kent Business School are broadly organised into six areas;

The Finance group addresses academically interesting and practical contemporary issues in finance and banking. Staff pursue research in several areas, including: derivatives pricing and risk management; financial econometrics; international banking; financial regulation; corporate finance; asset pricing and real-estate modelling.

The People, Management and Organisation group examine themes in the areas of employment relations, human resource management, organisational behaviour and leadership. The group covers a wide range of research, including employment relationships, the role of social partners, the effects of skills, technology and culture on the world of work, employee engagement, and the role of leadership.

For more information, see our Applied Research Centres:

Staff research interests

Full details of staff research interests can be found on the School's website.

Dr Li-cheng Chang: Senior Lecturer in Financial Accounting

Institutional theory and organisational change; performance measurement and balanced scorecard; behavioural aspects of budgetary and management control; public sector accountability.

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Professor Fragkiskos Filippaios: Reader in International Business

Multinationals; foreign direct investment; culture; cultural distance; performance; political and civil liberties; roles of subsidiaries; technology.

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Professor Warwick Funnell: Professor of Accounting and Finance

Public sector accounting; public sector accountability; accounting history; constitutional accountability. 

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Dr D Godsell: Senior Lecturer in Financial Accounting

Auditing, Auditing and corporate governance, Auditors’ legal responsibilities.

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Dr Mohammad Hasan: Senior Lecturer in Finance

Financial economics, international finance, macro and monetary economics.

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Dr Abdullah Iqbal: Senior Lecturer in Accounting & Finance

Market-based accounting research; corporate finance; corporate governance; earnings management; operating and stock return performance; seasoned equity offerings; initial public offerings; Islamic finance.

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Professor Robert Jupe: Professor of Accounting and Public Management

Rail privatisation; Railtrack; Network Rail; nuclear privatisation; British Energy; London Underground privatisation; accounting history.

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Dr Ortenca Kume: Lecturer in Finance

Credit risk; Mutual fund performance; Behavioural finance; Capital structure.

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Mr Arvind Lall: Lecturer in Taxation and Ethics

Tax planning and business start up's. (Corporate) tax avoidance.

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Professor Roman Matousek: Professor of Banking and Finance

Financial Institutions and Services, Banks, Financial Crises, Ratings and Ratings Agencies, Regulation, Corporate Governance, Monetary Policy, Central Banking, and the Supply of Money and Credit.

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Dr David Morelli: Senior Lecturer in Finance and Financial Management

Examining the behaviour of securities in the equity markets, analysing potential determinants of security price movements along with testing various pricing models. Integration of the global capital markets.

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Dr Ekaterini Panopoulou: Reader in Finance

Financial Econometrics, Time Series (Modelling and Forecasting), Financial Economics and International Finance

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Mrs Angela Ransley: Senior Lecturer in Finance and Financial Management

Financial management; The role of management accounting in decision making; Structures of corporate finance; Financial markets.

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Dr Carmen Stoian: Lecturer in International Buisness

Multidisciplinary nature and combine quantitative and qualitative approaches. How institutions affect international business; the determinants of inward and outward foreign direct investment from Central and Eastern Europe. Corporate Social Responsibility practices in the UK and in emerging economies.

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Dr Zita Stone: Lecturer in Strategy and International Business

Strategic management, international business management, European integration, corporate financing in Central and Eastern Europe, equity culture development and financial institutions.

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Professor Radu Tunaru: Professor of Quantitative Finance

Property derivatives; financial engineering; financial mathematics; MCMC applications in finance; statistical properties of risk measures; pricing and hedging of reverse mortgages; calibration of market price of risk with stochastic filtering methods; Markov Chain Monte Carlo Methods for risk management in asset-backed securities market; dependence modelling for portfolio analysis.

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Dr Nikolaos Voukelatos: Lecturer in Finance

Econometrics; risk-neutral densities; efficiency of options markets; forecasting; conditional variance models.

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Izidin El Kalak: Lecturer in Finance

Credit Risk Modelling;  Financial Risk Management;  Hedge Funds;  Renewable Energy Investments

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Professor Paul Phillips: Professor of Strategic Management

Tourism and hotels; e-business strategy; performance measurement and management; emerging economies.

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Professor Yannis Georgellis: Professor of Management

Employee well-being and engagement, psychological theories of adaption, work-life conflict/enrichment, social comparisons at work, evaluation of HRM practices, workplace training and skills, intrinsic motivation in the public sector, happiness research and behavioural and personal economics.

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Fees

The 2019/20 annual tuition fees for this programme are:

Finance (Finance and Management) - MSc at Canterbury:
UK/EU Overseas
Full-time £10480 £18400

For students continuing on this programme fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.* If you are uncertain about your fee status please contact information@kent.ac.uk

General additional costs

Find out more about general additional costs that you may pay when studying at Kent. 

Funding

Search our scholarships finder for possible funding opportunities. You may find it helpful to look at both: