• Recognising problems and analysing various topics in the area of financial services
• Handling ambitious practical problems in financial services like consulting projects and real portfolio management
• Developing customer-specific solutions
• Communicating with project client
• Presenting the final project report
• Working in a team in a project-oriented manner
• Mastering a portfolio under the supervision of a portfolio manager
• Working up all relevant information and data for portfolio management
• Structuring the strategic and tactical asset allocation
• Deciding on security selection

Seminar

After completion of the module, the students have at their disposal practical experiences in handling a consulting project in the area of banking and finance. In the course of the assignment, they utilize a range of advanced procedures and techniques incorporated in the discipline and apply theoretical insights to practical solutions, so that they are directly prepared for their professional life. Students develop original and creative answers for topics and problems and are able to evaluate the situation even without complete information. They are able to reflect and enlarge their knowledge and capabilities. In addition, they master professional project assignment and presentation techniques and are trained to function in a team. They are also able to assume responsibility within the team and to coordinate team assignments while taking into account the interest of the business.

• Assignment (depending on the project an additional presentation may apply)

Web-based online evaluation upon completion of module

• Dimensions of Corporate Governance
• Practice of Right of Control by Various Actors
• Conflict of Interest
• Financial Remuneration for Managers
• Role and Responsibility of Institutions (Accounting, State)
• Corporate Governance in Financial Services Undertakings
• Empirical Investigations of Corporate Governance
• Ethical Requirements in Investment Management
• Professional Standards in Investment Management, e.g. in Connection with Non-Public Information, Obligations to Customers and Employers, Dealing with Conflict of Interest

Interactive lecture, case studies

After completion of the module, the students have at their command in-depth knowledge in the area of Corporate Governance. They are able to illustrate diverse enticement scenarios and thus are able to explain the actions of various actors. Furthermore, they can identify the occurrence of conflicts of interest and integrate various leadership styles in their dealings and are knowledgeable concerning the management of employees and business development.

They are able to infer from them the resulting institutions, guidelines and laws and to integrate them into the parameters of financial service undertakings. In addition, they are familiar with the distinct potential for conflict of interest in investment management, but they understand the ethical and professional demands on a professional investor with respect to customers and employers.

• Written examination with 60 minutes editing time
• Assignment with presentation
• Obligatory class participation

Web-based online evaluation upon completion of module

This module aims at fostering professional competences. In particular, an overview on theories of the firm is given in order to provide students with a profound background for better understanding the various current topics of their discipline.

The set of theories dealt with in the course will continuously be reviewed and adapted. So far, the following theories of the firm are considered to be particularly relevant for all three doctoral programs currently being offered by the graduate school:

• Introduction to the Theory of the Firm (Prof. Dr. Stefan Güldenberg)
• The Nature of the Firm and the Problem of Social Cost (Ass.Prof. Dr. Tanja Kirn)
• Agency Theory (Prof. Dr. Marco Menicetti)
• Property Rights and Contractual Theory (Prof. Dr. Michael Hanke)
• Information Processing Theory (Prof. Dr. Jan vom Brocke)
• Resource-based Theory of the Firm (Prof. Dr. Christian Marxt)
• Behavioral Theory of the Firm (Prof. Dr. Stefan Güldenberg)
• Knowledge-based Theory of the Firm (Prof. Dr. Stefan Güldenberg)

Lecture; self-study; presentation and paper by students

• Basic understanding of the fundamental research questions connecting to the existence and boundaries of organizations
• Basic understanding of the different approaches which try to explain the existence and boundaries of organizations from various perspectives
• Basic understanding of the underlying assumptions of these approaches

Students will be able to:

• gain an overview about various theories of the firm and their history
• critically review and discuss different theories of the firm
• apply theories of the firm as guiding theoretical framework to own thesis topic and research questions

Buckley, P.J.; Michie, J. (eds.) (1996): Firms, Organizations and Contracts: A Reader in Industrial Organization, Oxford/New York Oxford Management Readers

The students will be assessed in this module through:

• paper (5000 - 7000 words)
• Presentation of paper

This module helps the student to further broaden and intensify his knowledge and methodological skills needed for his dissertation.
This module could focus on Banking, Finance or Taxation.

Lecture or seminar or self-study, possibly combined with preparation and presentation of a paper.

Based on lectures offered on the master's level, this module helps to enable the student

• to further intensify the existing knowledge and methodology needed for the dissertation project;
• to independently develop a research concept for specific research questions;
• to develop, analyze and synthesize new complex ideas;
• to develop the scientific and/or cultural progress for an academic or non-academic environment.

Students will be able to:

• Have an advanced and intensified overview on specific topics needed for the dissertation project;
• Develop their own research project;
• Apply the methodological structures of these specific topics for their dissertation project.

• Cochrane, J. (2001). Asset Pricing. Princeton: Princeton University Press
• Specific articles and books on Empirical Finance

The students will be assessed in this module through:

• competitive selection process of the research seminar
• specific mechanisms of the research seminar

Module availability:
On application at an internationally reknown PhD program, such as organised e. g. by London School of Economics, University of Constance, Zürich, St. Gallen, Innsbruck.

This module aims at supporting methodological competences of knowledge discovery and creation. In particular, students will be given a introductory overview of different research strategies and research methods to broaden their expertise and to assist them composing their own tailored research design.

The subjects that are likely to be covered include:

• Research Design
• Analytical and Experimental Evaluation of Research
• Survey Research
• Qualitative Methods
• Case Study and Action Research
• Mixed Methods Approach
• Design Science Research
• Theory Building
• Literature Review
• Research Methods for the Built Environment

self-study; presentation and paper by students

• Basics in research design, hypotheses and their verification, the role of theory and the concept of causality.
• Basics in quantitative and qualitative methodology and mixed focuses.
• Basics in observational and experimental methodology.

Students will be able to:

• gain an overview about currently used empirical methods
• review and qualify empirical articles from a diversity of fields
• choose the right design for their thesis

A reader and/or corresponding handouts will be distributed via the forum. The following books cover most of the subjects in the course:
J. Bortz and N. Döring (2006). Forschungsmethoden und Evaluation für Human- und Sozialwissenschaftler (4. Auflage). Berlin: Springer
J. W. Cresswell (2009). Research Design: Qualitative, Quantitative, and Mixed Method Approaches. Thousand Oaks, California, Sage Publications Inc.
John Zeisel (2006). Inquiry by Design: Environment/Behavior/Neuroscience in Architecture, Interiors, Landscape, and Planning. W.W. Norton.
Groat, L. and D. Wang (2002) Architectural research methods. New York: J. Wiley .
Denzen, N.K. nd Yvona S. Lincoln, The SAGE handbook of qualitative research, 3rd Ed (2002)

The students will be assessed in this module through:

• paper (3000 words)
• presentation of paper

This module serves manifold competences (see section 1.2): As a doctoral consortium it aims at deepening both, methodological and professional research skills of the students. In addition, it is designed to foster the international profile of their work.

By means of submitting their work to an internationally reknown doctoral consortium the students learn how to position themselves in a highly competitive environment.

Since successful applications are invited to be discussed by a selective academic committee the doctoral consortium also serves to further develop the communicative and social competences of the students.

Students' participating in a doctoral consortium arranged in the context of an internationally well-regarded information systems conference, therein share both the main contents of and progress in their own researches. Moreover, they benefit from listening to the other students' experiences and results and receive valuable feedback of the consortium chairs and student participants.

Students will be assisted by lecturers of the Institute of Information Sysetms at the University of Liechtenstein in preparing their proposal and application for the coctoral consortium. Accepted students will take part in the consortium. Also a reflection of the lessons learned at the consortium together with the lecturers at Liechtensetin is part of the module.

The primary objective of the doctoral consortium is to present and defend the PhD students' research in a competitive and international scientific environment.
Research Design, Theories of the Firm, Research Methods in Information and Process Management Science

The students will be assessed in this module through:

• Competitive Selection Process of the docotral consortium
• Research paper submitted to the doctoral consortium
• Assessment by the Professors discussing the proposal at the doctoral consortium

Module availability:
On application at an internationally reknown doctoral consortium, e. g. at ICIS, International Conference on Information Systms; ECIS, European Conference on Information Systems; AMCIS, American Conference on Information Systems or ACIS, Australatian Confernece on Information Systems.

This module serves manifold competences: As a doctoral consortium it aims at deepening both, methodological and professional research skills of the students. In addition, it is designed to foster the international profile of their work.

Students' participating in a doctoral consortium, therein share both the main contents of and progress in their own researches. Moreover, they benefit from listening to the other students' experiences and results and receive valuable feedback of the supervisors, consortium chairs and student participants.

The primary objective of the doctoral consortium is to present and defend the PhD students' research in a competitive and international scientific environment.

The students will be assessed in this module through:

• Competitive Selection Process of the doctoral consortium
• Research paper submitted to the doctoral consortium
• Assessment by the Professors discussing the proposal at the doctoral consortium

Module availability:
On application at an internationally reknown doctoral consortium.

• Review of relevant economic concepts focussing on financial topics
• Statistics
• Microeconomics
• Macroeconomics
• Investments
• Discussion of Case Studies

Interactive lecture, case studies

After completion of the module, the students are able to recognise and analyse challenges in the practice of corporate finance. They can explain suggestions for solutions and thereby integrate their theoretical knowledge. In discussions with instructors and fellow students they are able to assess basic approaches to solutions, to suggest their own solutions and to enlarge on concepts.

• Written exam with 60 minutes duration
• Assignment
• Obligatory class participation

Web-based online evaluation upon completion of module

International Accounting
> Basics of tax accounting
> Deferred Taxes: Deferred tax liabilities and deferred tax assets
> Tax accounting process
> Effective tax rate and tax reconciliation

The Economics of Taxation
> Theory of Optimal Taxation
> Taxation and Saving Decisions
> Taxation and Investment Decisions
> Taxes and Capital Structure

Interactive lecture, case studies.

The module International Accounting and Taxation introduces the issues of deferred taxes and an effective tax rate. Deferred taxes mean a future tax liability or asset, resulting from temporary differences between the accounting value of assets and liabilities and their value for tax purposes. Deferred taxes are used to calculate the effective tax rate, which shows the effective tax burden of a group of affiliated companies. After completion of the course on International Accounting, the students have at their disposal comprehensive knowledge of deferred taxes and the effective tax rate.

The course of International Taxation provides a comprehensive understanding of the impact of taxation on saving and investment decisions as well as the impact on capital structures. After completion of the course, the students are familiar with the fundamentals of the economics of taxation to the extent that they can explain the influence of taxation on investment and financing decisions.

The lecture materials, legal foundations, accounting standards and illustrations of facts relating to the exercises as well as possible further materials including selected literature are available on the Hochschulforum. Additionally, all the recommended literature is accessible at the library.

1 written exam with 90 minutes editing time (80% of module grade)
1 presentation (20% of module grade)

Web-based online evaluation upon completion of module.