Modules SS 2025

Master students have the opportunity to take part in educational journeys to the world’s most important financial centres. Taking place
> Review of Portfolio Theory and Asset Pricing
> Extensions of the CAPM
> Empirical confirmation/rejection of the CAPM
> Stock Market Anomalies
> Multi-Factor Models
> Investment Strategies
> Performance Evaluation
> Portfolio Execution, Monitoring, Rebalancing and Costs
  • Smart Contracts
  • Token Valuation
  • Crypto Exchanges
  • Tokenization of services and other goods
  • Trade Finance with Blockchain
  • InsurTech, PropTech and Social Trading
The content of the course is the analysis of different business models/case constellations at the interface of different competing areas of financial market law, such as banking supervision, asset management and payment services as well as e-money. In addition, reference is made to Liechtenstein's current blockchain regulation.
Furthermore, in the area of asset management, current regulatory developments, such as in the area of sustainable asset management, will be discussed.
  • Introduction to Private Wealth Management, Estate and Succession planning
  • Structuring and Governance of Wealth and Wealth Management Structures
  • International Wealth Tax Management of UHNWI with Wealth Structures
  • The Liechtenstein Wealth Management Centre and other Wealth Management Hubs: BM, BS, CH, SG
  • International asset protection, family office and next generation issues
  • Onboarding of Private Clients (UHNWI) with Wealth Structures: Input Statements by banks & trustees
  • Case studies on International Wealth Management: Input Statements by banks & trustees
  • CFA level III: Topics in Private Wealth Management
  • Introduction to taxation of individuals and legal entities in selected jurisdictions: FL, AT, CH, DE
  • Application of Double Tax Treaties, Exchange of Information and Mandatory Disclosure Obligations
  • National and international taxation of Wealth Structures incl. their Settlors and Beneficiaries
  • International Tax Planning and Investment Hubs: CH, FL, HK, IRL, LU, SG
  • International Wealth Tax Management of UHNWI with Wealth Structures
  • Onboarding of Private Clients (UHNWI) with Wealth Structures: Input Statements by banks & trustees
  • Case studies on International Tax Planning of Private Clients (UHNWI) with Wealth Structures and Investments in Participations, Private Equity, Financial Instruments, Real Estate and Tangible Assets
  • CFA level III: Topics in Private Wealth Management
  • Introduction to International and European Tax Policy and Tax Standards
  • Principles of national and international taxation of individuals
  • Introduction to taxation of individuals and legal entities in selected jurisdictions: FL, AT, CH, DE
  • Application of International Double Tax Treaties to individuals and legal entities
  • Application of Exchange of Information and Mandatory Disclosure Obligations under EU-DAC 6
  • International Tax Planning, Investment and Wealth Management Hubs: BM, BS, CH, HK, IRL, LU, SG
  • Input Statements by Liechtenstein financial service providers
  • Case studies: International Tax Planning of individuals and legal entities incl. MNE (Apple, Nike)
  • Identification of a research problem and development of a research questionThematically 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 field of specialisation by drawing on scientific work methods. Completion of presentation documentation on a research problem within their specialised - field. Defense of the elaborated research topic and in-depth discussion with the examination board.
  • In this course, student groups work on solving a current and relevant practical problem in finance. The problem is provided by a project owner, typically a financial services company or a faculty member with practical experience. Students will apply complex theoretical concepts to develop a satisfying solution to the given problem.Group project workPractical problem-solving in financeCollaboration with project ownersApplication of theoretical conceptsFinal project report preparation
Research Methods covers the fundamentals of qualitative and experimental research methods commonly applied in economics and finance. The course focusses on methods to address research questions for which archival data is not available or suitable. Students will be able to differentiate between quantitative and qualitative research approaches and reflect upon respective advantages and disadvantages.

Key topics covered are:
  • Behavioural finance, prospect theory, and risk patterns in light of financial decision-making
  • Differentiation between qualitative and quantitative methods
  • Design of experiments
  • Design of surveys
  • Design of interviews
  • Critical evaluation of causal inferences based on qualitative methods
  • This seminar is designed for students to autonomously develop a written seminar paper on an academic problem in finance. Each student selects a topic, conducts in-depth research, and writes an individual paper. The course culminates in students presenting their findings at the end of the semester. The specific content is dependent on the chosen topics and the course framework.Key topics covered are:Autonomous seminar paper developmentIndividual research projectsAcademic problem-solving in financePresentation of research findingsApplication of first-semester research methods
In Sustainable Finance, students will learn about the corporate sustainability, its measurement and applications in corporate finance and asset pricing. The course will be taught based on contemporary academic studies. Students are required to explain inferences from different methodological approaches in this research field. Practical impli-cations of theoretical and empirical studies are being discussed. The course topics change from semester to semes-ter, but the course usually addresses the following topics:

  • Current and past developments in sustainable finance
  • Definition, measurement and critical evaluation of corporate sustainability
  • ESG data, data providers and materiality
  • Regulatory frameworks and initiatives
  • Research methods in sustainable finance
  • Sustainable financial products