• Strategic, Dynamic and Tactical Asset Allocation
• Active Portfolio Management
• Asset Allocation, Investment Horizon and Risk Measurement
• Performance Measurement and Output Evaluation
• Discussion of the Methods of Individual Selected Journal Contributions
• Introduction to Life Insurance, Occupational Pensions and Pension Funds
• The Role of Life Insurance in Estate Planning
• Location Advantages in Liechtenstein for the Life Insurance and Pension Fund Market
• Selected Annually Changing Theoretical Questions on Wealth Management
• Role of Term Structure in Asset Allocation
• Relationship between the Real Economy and Financial Markets
• Currency Regimes and International Diversification Exchange Rate Risks in Asset Management Protection Management
• Resampling to address parameter uncertainty and time-horizon effects in portfolio management
• Planning and sequential decision making under uncertainty and Merton Framework
• Scenario representation and scenario optimization modelling in GAMS

Interactive lecture, exercises, seminar

After completion of the module, the students have at their disposal comprehensive and integrated knowledge of most core issues in wealth management and have a critical understanding of the majority of the utilised procedures and methods. They have at their command specialised knowledge of professional methods for processing data and illustrating it in a well-structured manner. They are able to show originality and creativity in the application of their knowledge and take into consideration scientific and ethical issues in the face of incomplete information. The students are able to communicate on the subject of wealth management with experts and laities and thus reflect and enlarge upon their knowledge and methods. andidates understand the fundamental difference between one-period and multi-period decision problems and how to model real-life optimization task. Those who have followed the course will be able to formulate and solve optimization problems in GAMS.

• Written examination with 90 minutes editing time (60%)
• Term paper (40%)

Web-based online evaluation upon completion of module

Differenzen zwischen Journalismus und PR; Schreiben, PR, Werbung; Unternehmenskommunikation und Journalismus

• erkennen Grenzen zwischen Marketing und PR
• erkennen Gemeinsamkeiten in Journalismus und PR (Relevanzkriterien, Wahrheitspflicht usw.)
• erkennen Trennendes in Journalismus und PR (objektiv/Interessen)
• erläutern nach Betriebsbesuch, wie internationale Konzernkommunikation funktioniert
• Führen in Gruppenarbeit eine PR-Kampagne von der Medienmitteilung bis zur Durchführung einer Medienkonferenz und Onlinebegleitung aus
• identifizieren Regierungs-PR in internationaler Berichterstattung (USA, Syrien, Ukraine, Russland,...)
• entwickeln Thesen für ein NGO-Konzept
• beurteilen konkrete vergangene Krisen auf gelungene7misslungene Konzernkommunikation

• Definition and forms of sustainable investments
• Legal framework of sustainable investments - advantages/disadvantages
• Sustainable market and performance overview with trends and outlook
• Introduction to the worlds of real estate and property development, investment, finance, marketing and management
• Familiarity with the conceptual frameworks, practical tools and language
• Definition of real estate is an important asset
• Introduction to Life Insurance, Occupational Pensions and Pension Funds
• The Role of Life Insurance in Estate Planning
• Location Advantages in Liechtenstein for the Life Insurance and Pension Fund Market

Interactive lecture

After completion of the module, the students have at their disposal comprehensive and integrated knowledge of a core issues in alternative wealth management covering sustainable investments, real estate and private insurance structures and have a critical understanding of the majority of the utilised procedures and methods. They have at their command specialised knowledge of professional methods for measuring and identifying such investments. They are able to show originality and creativity in the application of their knowledge and take into consideration scientific and ethical issues in the face of incomplete information. The students are able to communicate on the subject of sustainable wealth management with experts and laity and thus reflect and enlarge upon their knowledge and methods.

• Written examination with 90 minutes editing time (70%)
• Presentation (30%)
• Obligatory class participation

Web-based online evaluation upon completion of module

• National, International and European Company Law in the Private Banking industry
• National, International and European Taxation of Asset Structures and of Financial
• Instruments in the Private Banking industry
• Critical Observation of Competitors
• Strategic Concepts and their Application
• Dealing with Bank-Specific Controlling Instruments and Information Media
• Result Effect of Risks, Structuring of Conditions, Balance Sheet Structure, Market Interest
• Methods, Capital Resources Requirement and Differing Economic Scenarios

Interactive lecture, exercises

After completion of the module, the students have at their disposal comprehensive and integrated knowledge of most core issues in International Company Law and International Taxation of Asset Structures and of Financial Instruments and have a critical understanding of the majority of the utilised procedures and methods. Furthermore, they have a solid knowledge about the current trends and developments in the Private Banking industry. Students are able to utilize taxation instruments in the field of Private Banking. They have at their command specialised knowledge of professional methods for processing data and illustrating it in a well-structured manner. They are able to show originality and creativity in the application of their knowledge and take into consideration scientific and ethical issues in the face of incomplete information. The students are able to communicate on the subject of International Company Law and International Taxation with experts and laity and thus reflect and enlarge upon their knowledge and methods.

Written examination with 120 minutes editing time (100%)
Obligatory class participation

Web-based online evaluation upon completion of module

• 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) (100%)

Web-based online evaluation upon completion of module

• Identification of a research problem and development of a research question
• Thematically formulating a problem and developing a solution through application of scientific methods
• Independence in handling a research problem determined in the course of an assessment. Discussion with the advisor about methodological and content issues in solving a research topic.
• Completion of a comprehensive assignment where the students deal with a theoretical or practice-oriented problem in their area of specialisation by drawing on scientific work methods.
• Mid-term report about the current stage of the progress during the Colloquium.
• Completion of presentation documentation on a research problem within their specialised area.
• Defense of the elaborated research topic and in-depth discussion with the examination board.

• After completion of the module, the students have acquired a detailed knowledge and a critical understanding of their research topic.

• They have at their disposal specialised knowledge of methods and procedures for processing data and explaining it in a structured manner. They exhibit originality and creativity in the application of their knowledge.

• The students complete research and development projects, applying specialised research methods, survey and development techniques by drawing on their previously acquired skills.

• Additionally, they present the significant findings of their project to academic and real economy specialists, thereby utilising various communication methods in order to illustrate complex data on a scientific level.

• Upon positive evaluation of the thesis module the Master's degree is awarded to the candidate.

• Colloquium presentation (attendance obligatory)
• Evaluation of the written thesis paper
• Presentation and defense in front of the examination board

Web-based online evaluation upon completion of module

Extracurriculare activities comprise of various activities that are not strictly linked to the curriculum and further support students in their studying. Please note that parts of the module require obligatory participation.

• 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 90 minutes editing time (50%)
• Assignment (25%)
• Presentation (including active participation during lecture) (25%)
• Obligatory class participation

Web-based online evaluation upon completion of module

Recherche; Interview und Umfrage; Journalistisches Fragen; Glaubwürdigkeit von Quellen; Agenturen

• zählen mögliche Recherchequellen auf
• interpretieren Interviews und analysieren die Motive der GesprächspartnerInnen
• schreiben Treatments und Berichte; kürzen Interviews ohne den Inhalt zu verfälschen
• analysieren Themen nach Relevanzkriterien
• entwickeln eine These für Kommentar/Meinung
• bewerten die Glaubwürdigkeit von Quellen im Internet, Statistiken, Interviews,...

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

The students will be assessed in this module through:

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