Master's in Management (MiM)

This course represents an introduction to asset pricing. Asset pricing is the field in Finance that studies the risk-return tradeoff: Some assets have higher expected returns (i.e., lower “prices”) than other assets because the former have higher systematic risk. Since risk is not observed, we need asset pricing models to quantify risk and the risk-return tradeoff.

A popular class of asset pricing models are linear factor models, which will be the focus of the workshop. Under this class of models, an asset earns a higher expected return (than other assets) because the former has higher risk, that is, a more positive exposure to a given factor (or several factors), which has a positive risk price. The intuition is that the first asset pays lower (realized) returns in “bad times”, that is, times where the factor realizations (or returns) are adverse (i.e., low). Each factor has its own definition of “bad times”. Every linear factor model can be defined under three alternative asset pricing frameworks: the beta representation, the stochastic discount factor representation, and the mean-variance frontier representation. Linear factor models represent the academic foundation of Factor Investing, a paradigm of investing that has been very popular over the last 15 years.

In this course students learn why financial intermediaries exist and what they do. We lay the groundwork with theoretical explanations for the existence of financial intermediaries that are based on frictions in financial markets, such as transaction costs and informational asymmetries. You will get a detailed understanding of financial intermediaries’ main activities, covering key topics from commercial, retail and investment banking. We further deal with specialized topics that have recently gained in importance, for example, credit derivatives and credit securitization, and relationship lending. Moreover, we discuss state-of-the-art approaches for the measurement and management of major risks in banking, such as credit, market, liquidity and operational risks, before we consider objectives and requirements of banking regulation. Finally, we discuss the future of financial intermediation from a systemic point of view, taking into account various aspects of the global financial crisis of 2007-2009. The objective of this course is to provide a comprehensive understanding of the existence of financial intermediaries and their activities. The specific objectives of this subject are the existence of banks, main risks in banking, spot lending, further issues in lending, special topics in credit, off-balance sheet banking, securitization and the financial crisis, funding with deposits and capital, bank regulation and financial innovation.

Understanding cultural differences, and effectively managing these differences are critical to working, communicating and leading people in multi-cultural and international business environments. Thus, this course aims to provide a conceptual and theoretical framework for developing an understanding of the ways in which cultures differ, how these cultural differences impact individuals and teams in organizations. Topics include the nature and dimensions of culture, challenges in managing cultural differences, the dynamics of multi-cultural teams, leadership across cultures, cross-cultural perspectives to motivation and decision-making, and global approaches to managing conflict and conducting business negotiations.

This course explores the principles, challenges, and practices associated with diversity and inclusion (D&I) in contemporary organizations. It aims to equip MBA students with the skills to identify, implement, and manage D&I initiatives effectively. Students will examine the benefits of a diverse workforce, explore frameworks to foster inclusivity, and consider real-world case studies across industries.

This course provides students an overview of diversity research in the field of Organizational Behavior (OB). The course is designed to provide exposure to the diversity literatures, an understanding of its central concepts, and the opportunity to develop ideas for how you might contribute to this field. We will pursue these goals by examining a mix of theoretical and empirical research, thinking critically about their strengths and limitations, and creating a forum for you to test your own conceptual and empirical ideas. OB draws on theory and research in a variety of fields, including psychology, sociology and economics to explore individual, interpersonal, and group processes in organizations.

As part of the global initiatives of the Institute for Strategy and Competitiveness (ISC), linked to the Harvard Business School, coordinated by Professor Michael Porter, and offered by FGV/EBAPE, this program seeks to disseminate a comprehensive understanding of competitiveness on three levels: that of companies, that of local and traded clusters and that of the sub-national (state, micro-regional) level. 

The diffusion of the concepts, tools and results of studies and research carried out by the leading scholars and practitioners around the world are brought together here in the form of a course at postgraduate level, whose purpose is to discuss the concepts of competitiveness and their application to present-day business development programs. In addition to the participation of FGV faculty, the classes will be complemented by case studies and experiences related to competitive issues at the global and local levels with the participation of invited speakers from the public, private and third sector. To complement the conceptual and theoretical knowledge, field visits in loco to chosen Brazilian clusters, with presentations offered by spokespersons of the companies and entities being analyzed. As designed, the program is targeted for students that are interested in competitiveness and local development both from business and public administration.   

The importance of the environment for private organizations and governmental institutions has changed drastically in the last decades. From a marginal topic always forgotten by managers to one of the main priorities in organizations. However, there is much discourse and less results in practice, particularly in developing countries.

As countries around the world grapple with persistent development challenges, including the impact of climate change, discussions about how to generate and manage the resources necessary to face these challenges are growing and becoming more urgent.

Green and sustainable finance, defined as any structured financial activity that’s been created to ensure a better environmental, social, governance and economic outcome, is an idea that has been gaining traction in the last decade in the context of growing pressures towards improving social and environmental outcomes, and as part of the United Nations’ Agenda 2030. In this scenario, increasing the availability of green and sustainable finance approaches and instruments will be crucial to the future of our planet, the implementation of a more inclusive and resilient economic model, and the long-term profitability of projects and businesses. 

This introductory course will present and discuss some of the key ideas, frameworks, actors and initiatives that fall under the general banner of “green and sustainable finance”, using both more general materials and real-life examples from across the world. It will discuss the role that various types of both public and private institutions can play in promoting green and sustainable finance, and how they have tried to do it in practice. This will include looking at green bonds, carbon markets, climate risk assessments, social impact investments, among others, and connect these to a broader sustainable development framework.

This course provides students an overview of some of the major topics in organizational behavior at the individual level of analysis (including motivation, affect, individual differences, judgment and decision making, negotiation, leadership, power, status and voice). The course is designed to provide a broad exposure to its numerous literatures, an understanding of its central concepts, and the opportunity to develop ideas for how you might contribute to this field. We will pursue these goals by examining a mix of theoretical and empirical research, thinking critically about their strengths and limitations, and creating a forum for you to test your own conceptual and empirical ideas.

This course seeks to deepen our understanding of how firms manage technology and innovation to achieve competitive performance in global marketplaces. One of the distinctive features of this course is that it examines the process of technology and innovation management, particularly from the perspective of emerging economies. Another important feature is its focus on the capabilities that underlie firms’ innovative and competitive performance.

This course builds upon your previous Ph.D. courses in the areas of international business and strategic management by covering topics that bridge and extend these two areas, but were not covered in depth in either of these courses. The course is designed to provide an overview of the field of global strategy and familiarize you with several research streams. The major emphasis is on the development of international business, strategic management, and global strategy thought such that you can appreciate how research streams have developed over the years.

In this course we will examine the science of leadership by reviewing both classic and contemporary leadership theories and models. Our review of leadership theories will cover classic leadership theories, such as the trait, behavioral and contingency theories of leadership, neo-charismatic perspectives of leadership, leader-follower interactions theories, follower-centric approaches to leadership, cognitive and implicit leadership theories, morality and leadership, cross-cultural leadership, as well as introduce students to emerging topics in leadership research.

Organization Theory, also called Organization and Management Theory in the United States and Organization Studies in Europe, has become an increasingly creative and pluralist, at the same time contested and conservative, field of knowledge and practices. In tandem with the emergence of both multiple ways of being, organizing, managing and knowing and anti-democratic movements against diversity, inclusion, social justice, anti-racism and equity within a complex era of globalizations, not neoliberal end of history, this field embodies a growing and worldwide concern with how organizations and academy can foster transformations that could lead to a better world for all. Our learning course offers a deep understanding of the field with a focus on pressing issues which impact the world majority such as inequality, social justice, sustainable development, patriarchy, racism and so on within and beyond dominant scholarship.

This course will introduce students to the study of the behavioral consequences of poverty. Drawing on theory and research in the behavioral sciences, we will explore how living in contexts of scarcity shapes basic psychological processes and influences critical decisions. Applications will cover a wide range of fields, including Marketing, Finance, Organization Behavior, Leadership, and Political Science. This course will, thus, offer in-depth exposure to the central concepts linking poverty and decision-making while also emphasizing the broad range of ramifications it might have to different disciplines.

The course aims at discussing the difference between scientific object and common sense, as well as how scientific methodology can be used to solve business problems. Thus, it will focus on how to formulate a research question and chose the adequate methodological research methods.

The concept of culture, risk (risk of disasters, risks of accidents, risks for communities and risks for the workers) and governance. The large industrial disasters and their impact on communities and the environment. Risk and its sociological origins. The concept of “disembeddedness” and risk in A. Guiddens. Industrial risk and climate change: exponential issues. Risk, energy transition and communities: challenges for Brazilian mining industry. Risk and governance. Risk and ESG. Risk and legitimacy.  The concepts of governance voids and institutional voids. Subcontractors, hybrid governance and the hidden risks. Managing extreme context organizations: firefighters, special forces and hospital emergencies: preparing for the unexpected. 

The meaning of development has changed over the decades. Planetary changes and the new development agenda, reinforced by the UN's launch in 2015 of the document “Transforming Our World”, require a radical change in society to achieve more sustainable development, before it is too late. Both governments and public administrations, as well as companies, international institutions and individuals, will have to think and act in a very different way from how they do today. In this subject we will discuss from a conceptual point of view the meaning of ideas related to transitions for sustainable development, what the institutional conditions are and how to create public policies that can catalyze these transformations. We will also make a connection with practice through discussions about empirical research and practical problems. We will read about the main theories and authors that help to support discussions about transformations.