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Behavioural Finance
MSIN0225
Term 1, 2 or 3: Term 3 Nature of assessment – individual or group: individual
Content of this coursework Brief Section Content A Core information B Coursework brief and requirements C Module learning outcomes covered in this assessment D Assessment of this coursework
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Section A: Core information This assessment is marked out of No marks will be given. However, feedback will be provided. % weighting of this assessment within total module mark 0% of the final mark of the course Word count/page length - maximum 1 page, font 11, regular margins Footnotes, appendices, tables, figures, diagrams, charts included in/excluded from word count Excluded from the word count
Bibliographies, reference lists included in/excluded from word count In-text references are included in the word count. The reference list is excluded from the word count.
Penalty for exceeding word count/page length None, but feedback will be given only on the first page. Academic misconduct (including plagiarism) Academic Misconduct is defined as any action or attempted action that may result in a student obtaining an unfair academic advantage. Refer to Academic Manual Section 9: Student Academic Misconduct Procedure - 9.2 Definitions. Submission date Tuesday 10 May Submission time 10.00 am UK time Penalty for late submission None. However, research proposals will be marked only if they are submitted before 24 May. Submitting your assignment Your answers to the questions MUST be submitted to the module submission link located within this module’s Moodle ‘Assessment’ tab by the specified deadline. Anonymity of identity The nature of this assessment is such that anonymity is required. Accordingly, no reference to your name(s) should appear on your submission. Insert only your UCL ID number(s) and do so on the front cover.
Return and status of marked assignments At the latest this will be within 4 weeks from the date of submission but we will endeavour to return it much earlier than this.
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Section B: Research proposal Brief and Requirements
For the Behavioural Finance project, students are required to conduct research on topic of their choice, subject to the following conditions: 1. The project topic should be closely related to one of the topics taught in the course Behavioural Finance, including a. Judgment and decision making under uncertainty; prospect theory b. Central behaviour finance effects (e.g. attention effects and the disposition effect) c. Emotional finance theories d. Financial practitioner – client relationship e. Bank client behaviour f. Financial crime g. Ethics in Finance. 2. The topic should go beyond the existing Behavioural Finance literature. 3. It should be possible to study the topic using quantitative research methods. The use of qualitative research methods in addition to quantitative methods is optional. 4. The topic should enable research which is in line with the ethics requirements of the School of Management. If the research involves participants, it should satisfy the Ethics Code of Conduct of the British Psychology Society.
In particular, students are required to • Conduct a literature survey on their topic • Formulate a research question and two relevant hypotheses • Design a study to test the two hypotheses. The study can include an experiment, a survey, or analysis of secondary data • For studies involving experiments or surveys: submit an ethics form through the ethics form Turnitin box on the web site of the course. The work on the project is conditioned by an approval of the ethics form • Conduct the study • Analyse the data • Summarise and submit the literature survey, method, results, and conclusions in a write-up. Project submissions should be done to the Turnitin box ‘Individual projects’ on the web site of the course.
To prepare you for this task, we invite you to submit a research proposal. The purpose of the research proposal is to provide the students with feedback on their dissertation ideas.
Thus, it would be good if you choose for your research proposal a topic that satisfies the conditions which are mentioned above. Then, conduct an extensive literature survey. Please include in your literature survey papers from peer-reviewed journals. Then, choose three papers from the ones that you read, which are: 4
• The most relevant to your research question • From peer-reviewed journals.
Please include in your research proposal: 1. Title - Your topic 2. Introduction section, including: a. Discussion of the three papers from peer reviewed journals that you chose, their main results and how they lead to your research question b. Discussions of the shortcomings of the literature, as reflected through the papers that you read in your literature survey and in particular in the three papers that you chose. In addition, your discussion should explain how your dissertation would extend the existing literature and highlight the originality of your research question. 3. Theoretical background and hypotheses development, including discussion of references (possibly other references) and how they lead to your hypotheses • The suggested method – that could be an experiment, a survey, or analysis of secondary data. Please include essential details about your method, including your design, how you would measure/ manipulate/ find data for your independent and dependent variables, materials, and your sample (data sample or participants’ sample). If you intend to conduce an experiment or a survey, please give an example of your questions or tasks. 4. Ideas for your analysis, including an explanation of how you would conduct your analysis (for example, regressions, t-tests, content analysis, etc). 5. Applications (for example, an explanation of the way in which groups, such as investors, or institutions, such as banks or firms, could benefit for your work). 6. Reference list
Referencing: The referencing should be in line with the Harvard referencing style and UCL’s referencing standards. Whenever you use information from sources, use in-text references to indicate that, and write their complete references in your reference list.
Length limit: One page, not including reference list (but including in-text references). Please use font 11 (e.g. Calibri or Times New Roman), single spaced paragraphs and have regular margins and spaces.
Good luck!
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Section C: Module Learning Outcomes covered in this Assignment This assignment contributes towards the achievement of the following stated module Learning outcomes: 1. Understand central behavioural finance theories and their applications: students’ project should be closely related to the contents of the course Behavioural Finance. Thus, to write a project, students should understand the theories taught in the course. 2. Recognise the way psychological factors influence financial decision making: the course reviews psychological factors affecting financial decision making, and thus, related projects should demonstrate knowledge of these effects. 3. Be familiar with research methods used in behavioural science: students are required to be familiar with research methods used in Behavioural Finance in order to design an original study. 4. Be able to perform research on Behavioural Science: students will indeed conduct a Behavioural Finance study. Thus, they will demonstrate that they can conduct research on Behavioural Finance. Section D: Assessment of this Coursework Within each section of this coursework you may be assessed on the following aspects, as applicable and appropriate to this particular assessment, and should thus consider these aspects when fulfilling the requirements of each section: • Appropriate use of relevant literature; • The strengths and quality of your overall methodology, analysis, arguments and evidence that you provide in support of your arguments; • The accuracy and appropriateness of any suggested methods; • Structure and coherence of your project proposal; • Appropriate and relevant use of the taught topics and additional reference
Notice that this assignment does not count towards your final Behavioural Finance mark.