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finance

Bachelor of Finance

The Bachelor of Finance (BFIN) program equips students with thorough knowledge of the following topics:

  • the theory and application of corporate finance;
  • the fundamentals of investment analysis and portfolio management;
  • the nature, structure, and functions of financial institutions;
  • the regulation, supervision and management of financial institutions.

Upon successful completion of the Bachelor of Finance program, graduates will be able to:

  • describe and apply capital budgeting techniques in evaluating investment decisions;
  • demonstrate analytical and computational skills in determining the optimal level of capital structure;
  • analyze the current business and investment environment (domestic and international), including the effect of changes in exchange rates, interest rates, and inflation, in making investment and portfolio management decisions;
  • explain and apply the methods of evaluating portfolio performance;
  • demonstrate knowledge in analyzing financial statements of banks as well as banking operations and performance;
  • describe financial regulations and supervision requirements, and demonstrate computational skills in calculating the capital adequacy ratio;
  • describe and apply the concepts and theories of ethics as they apply to the field of finance.

To earn the Bachelor of Finance degree, students must complete 146 KIMEP credits or 240 ECTS.

The following table illustrates the structure of the BFIN Program. 

Category of courses KIMEP Credits ECTS Credits
General Education  36 56
Program Foundation  68 112
Program Specialization  36 60
Final Attestation 6 12
TOTAL 146 240

 

General Education Courses (56 ECTS/36 KIMEP credits)

The General Education component consist of two parts:

 (1) General Education Required courses (33 KIMEP /51 ECTS Credits), 

(2) General Education Elective Courses (3 KIMEP/5 ECTS Credits).

The following table illustrates the requirements of the General Education component of the program.

Code General Education Courses ECTS Credits KIMEP Credits Prerequisite 
General Education Required Courses 51 33  
GEN/IRL 1000 Modern History of Kazakhstan 5 3 None
GEN/OPM 1300 or
GEN/OPM 2301
Information and Communication Technologies or Business Computer Applications 5 3 None
GENXXXX Physical Education 8 4 None
GENXXXX Module of socio-political courses 8 8 None
KAZ/RUS2101 Kazakh (Russian) Language 1  5 3 None
KAZ/RUS2102 Kazakh (Russian) Language 2  5 3 None
ENG 1110/

GEN1010

Academic Listening and Note Taking  5 3 None
ENG 1120 Academic Reading and Writing 1  5 3 None
GEN/IRL 2500
or 

GEN/IRL 2510

Introduction to Philosophy or Principles of Ethics 5 3 None
General Education Elective Course 5 3  
GENXXXX General Education course  5 3
TOTAL 56 36

 

Program Foundation Courses (112 ECTS/68 KIMEP Credits)

The Program Foundation component consists of two parts:

 (1) Program Foundation Required Courses (32 KIMEP /52 ECTS Credits)

(2) Program Foundation Elective Courses (36 KIMEP/60 ECTS Credits)

The following table illustrates the requirements of the Program Foundation component of the program.

 

Program Foundation Courses

ECTS Credits KIMEP Credits Prerequisite 
 Program Foundation Required Courses 52 32  
BUS4251.1 Internship Program I 2 1 30 KIMEP credits completed
FIN4251.2

FIN4241.2

Internship Program in Finance II/ Cases in Finance (substitute) 2 2 60 KIMEP credits and BUS4251.1
ENG/GEN1100 Academic Speaking 5 3 ENG 1110/

GEN1010

ENG/GEN1121 Academic Reading and Writing 2 5 3 ENG 1120
KAZ2103 or RUS2103 Professional Kazakh (Russian) 3 2 None
FIN2105 Business Microeconomics 5 3 None
FIN2106 Business Macroeconomics 5 3 None
MGT3001 Principles of Management 5 3 None
ACC2102 Financial Accounting I 5 3 None
FIN3121 Principles of Finance 5 3 ACC2102
IFS2203 Management Information Systems 5 3 GEN/OPM1300/ 2301
MKT3130 Principles of Marketing 5 3 None
 Program Foundation Elective Courses 60 36  
XXXX Elective 1 5 3  
XXXX Elective 2 5 3  
XXXX Elective 3 5 3  
XXXX Elective 4 5 3  
OPM3131 Introduction to Operations Management 5 3 GEN2402
GEN2402 Business Statistical Analysis 5 3 MATH1202/

GEN1201

ACC2201 Management Accounting I 5 3 ACC 2102
FIN3101 Financial Institutions and Markets 5 3 FIN2106
LAW2202 Business Law 5 3 None
MGT4201 Strategy and Business Policy 5 3 MGT3001, MKT3130, FIN3121, ACC2201
OPM3011 Decision Techniques and Tools 5 3 GEN1201/

MATH1202, FIN3121

GEN1201 Mathematics for Business and Economics 5 3 None
TOTAL 112 68

 

Program Specialization Courses (36 KIMEP/ 60 ECTS Credits)

The Program Specialization component consists of two parts: 

(1) Required Specialization Courses (27 KIMEP credits/ 45 ECTS) and 

(2) Elective Specialization Courses (9 credits/ 15 ECTS). 

The following table illustrates the requirements of the Program Specialization component of the program.

Program Specialization Courses ECTS Credits KIMEP Credits  Prerequisite 
 Program Specialization Required Courses 45 27  
FIN 3200 Ethics in finance 5 3 FIN3121, FIN3101
FIN 3210 Corporate finance 5 3 FIN3101, FIN3121
FIN 3230 Financial institutions management 5 3 FIN3101, FIN3121
FIN 3220 Investments 5 3 FIN3101, FIN3121
FIN 4211 Financial modeling 5 3 FIN3220
FIN 4224 Introduction to financial derivatives 5 3 FIN3101, FIN3121
FIN 4235 International financial management 5 3 FIN3101, FIN3121
FIN4214 Introduction to Financial Statement Analysis 5 3 FIN3101, FIN3121
FIN4251.3 Internship Program III 5 3 FIN4251.2

FIN4241.2

 Program Specialization Elective courses 15 9  
FIN4250 Personal and Entrepreneurial Finance 5 3 FIN3101, FIN3121
FIN4232 Risk Management 5 3 FIN4224
FIN4212 Mergers and Acquisitions 5 3 FIN3210
FIN4220 Real Estate Finance 5 3 FIN3101, FIN3121
FIN4221 Investment Banking 5 3 FIN3210
FIN4225 Fixed-Income Securities 5 3 FIN3220
FIN4231 Commercial Bank Management 5 3 FIN3101, FIN3121
FIN4240 Security Analysis and Portfolio Management 5 3 FIN3220
FIN4241 Case Studies in Finance 5 3 FIN3210, FIN3220, FIN3230 
FIN4242 Selected Topics in Finance 5 3 FIN3210, FIN3220, FIN3230
FIN4246 Insurance 5 3 FIN3121, FIN3101
FIN4247 Financial Regulation and Supervision 5 3 FIN3121, FIN3101
FIN4248 Islamic Banking and Finance 5 3 FIN3121, FIN3101
OPM3215 Business Time Series Forecasting 5 3 GEN2402
TOTAL 60 36

 

Final Attestation (6 KIMEP credits/12 ECTS)

The Final Attestation component consists of the following three parts: 

(1) Research Methods in Business Studies (3 KIMEP credits / 5 ECTS) 

(2) State Examination (1 KIMEP credit / 3 ECTS) 

(3) Thesis/ State Specialized Examinations (2 KIMEP credits / 4 ECTS)

Final Attestation Courses ECTS Credits KIMEP Credits  Prerequisite
BUS3300 Research Methods in Business Studies 5 3 Completion of General Education and Program courses
FIN4277 State examination 3 1
FIN4275/

FIN4280/

FIN4290 

Thesis/State examination (2) 4 2
TOTAL 12 6

MAJORS

Students have the opportunity to choose one of two majors: 

(1) Corporate Finance and Investment Management

(2) Financial Institutions and Risk Management

Corporate Finance and Investment (36 KIMEP credits / 60 ECTS)

Corporate Finance deals with the management of financial resources of non-financial firms. It involves the planning, acquisition, and financing of resources for businesses. A student interested in corporate finance will learn how to allocate financial resources of the company.  Investments is the study of alternative opportunities and the evaluation of an investment’s expected return and risk. The students will learn how to invest money in different investment instruments and manage investment assets and savings.

To gain major in Corporate Finance and Investment, students are required to complete the following courses:

Course Code Course Title ECTS Credits KIMEP Credits
All 9 Program Required Specialization Courses 45 27
FIN4225 Fixed-Income Securities 5 3
Any one course from:
FIN4212

FIN4221

Mergers and Acquisitions

Investment Banking

5 3
FINxxxx Any 1 course from Program Elective Specialization courses 5 3
TOTAL 60 36

 

Financial Institutions and Risk Management (36 KIMEP credits / 60 ECTS)

Financial Institutions deal with the management of and functions performed by employees of financial companies like banks, investment companies and insurance firms.  Risk Management deals with the identification, measurement, and management of different types of risk situations for businesses and individuals.

To gain major in Financial Institutions and Risk Management, students are required to complete the following courses:

Course Code Course

Title

ECTS Credits KIMEP Credits
All 9 Program Required Specialization Courses 45 27
FIN4232 Risk Management 5 3
Any one course from:
FIN4231

FIN4248

FIN4246

Commercial Bank Management

Islamic banking and Finance

Insurance

5 3
FINXXX Any 1 course from Program Elective Specialization Courses 5 3
TOTAL 60 36

 

MINORS

Minors for students of the Bang College of Business

Students are free to choose among different minors. They can also graduate without taking any minor. Graduating without a minor provides more flexibility in selecting elective courses because major requires students to take a particular set of courses.  

To gain a minor the BCB students shall take particular courses for a total of 9 KIMEP credits/15 ECTS. A particular course cannot be counted towards both a specialization and a minor.

Table below lists the requirements for Minors for the BCB students. 

Minor Area Code Course Title KIMEP Credits ECTS Credits Prerequisite
Accounting 

(any 3 courses)

ACC3101 Financial Accounting II 3 5 ACC2102
ACC3201 Intermediate Financial Accounting I 3 5 ACC3101
ACC3202 Intermediate Financial Accounting II 3 5 ACC3201
ACC3212 Accounting Information Systems 3 5 ACC3101
ACC3110 Management Accounting II 3 5 ACC2201
Finance FIN3210 Corporate Finance  3 5 FIN3121
FIN3101
FIN3220 Investments 3 5 FIN3121
FIN3101
FIN3230 Financial Institutions Management 3 5 FIN3121
FIN3101
Information Systems in Business 

(any 3 courses)

IFS3202 Database Management Systems in Business 3 5 GEN/OPM 1300 or GEN/OPM2301
CIT1303 Information Systems and Networking 3 5 GEN/OPM 1300 or GEN/OPM2301
CIT3745 Information Security Management 3 5 GEN/OPM 1300 or GEN/OPM2301
IFS4204 Decision Support System 3 5 GEN/OPM 1300 or GEN/OPM2301
Computer Applications CIT2731 Digital Graphics in Business 3 5 GEN/OPM 1300 or GEN/OPM2301
IFS4204 Decision Support System 3 5 GEN/OPM 1300 or GEN/OPM2301
CIT3734 Web Technologies in Business 3 5 GEN/OPM 1300 or GEN/OPM2301
Management        (any 3 courses) MGT3206 Leadership and Motivation 3 5 MGT3001
MGT3208 Innovation Management 3 5 MGT3001
MGT3210 International Business 3 5 MGT3001
MGT3212 Organizational Behavior 3 5 MGT3001
Leadership LDP3201 Leadership: Principles and Best Practices 3 5 MGT3001
LDP4201 Leadership: Making Principles Work 3 5 MGT3001
LDP4202 Leadership in Action 3 5 LDP 3201                   LDP4201 
Human Resources Management MGT3204 Human Resource Management 3 5 MGT3001
MGT4208 Training and Development 3 5 MGT3204
MGT4210 Compensation and Performance Management 3 5 MGT3204
Entrepreneurship MGT3211 Principles of Entrepreneurship 3 5 MGT3001
MGT3216 Business Model Innovation 3 5 MGT3211
MGT3217 Building and Accelerating the Venture 3 5 MGT3211
Marketing  (MKT3150 and any 2 other courses) MKT3150 Strategic Marketing 3 5 MKT3130
MKT3201 Consumer Behavior 3 5 MKT3150
MKT3202 Marketing Communications 3 5 MKT3130
MKT3214 Brand Management 3 5 MKT3150
MKT4203 Marketing Research 3 5 MKT3150
Tourism and Hospitality Management MKT3222 Cross Cultural Tourism Marketing 3 5 MKT3130
MKT3221 Tourism Practices and Principles 3 5 MKT3130
MGT3215 Hospitality Management 3 5 MGT3001

 

MERIT CERTIFICATES

In order to be eligible for the merit certificates under each Bachelor program, a student must:

  1. Take a set of three courses, offered by the BCB undergraduate programs, in a respective area.
  2. Meet exit criteria of a minimum overall GPA 4.00 in all courses required for a respective certificate.

III. All prerequisites must be met (waive of prerequisites, concurrent registration, CSS courses as equivalence of BCB courses are NOT allowed).

Merit Certificate in Auditing (9 credits / 15 ECTS)

Required courses:
ACC4203 Auditing
ACC4209 Fraud Examination
ACC4216 Professional Auditing

 

Merit Certificate in Taxation (9 credits / 15 ECTS)

Required courses:
ACC3205 Principles of Taxation
ACC3210 Taxation in Kazakhstan
ACC4240 Taxation of Multinational Enterprises

 

Merit Certificate in Corporate Finance and Investment Management (9 credits / 15 ECTS)

Required courses:
FIN4224 International Financial Management
FIN4212 Mergers and Acquisitions 
FIN4221 Investment Banking

 

Merit Certificate in Financial Institutions and Risk Management (9 credits / 15 ECTS)

Required courses:
FIN3230 Financial Institutions Management
FIN4224 Introduction to Financial Derivatives
FIN4232 Risk Management

 

Merit Certificate in Marketing Communications and Branding (9 credits / 15 ECTS)

Required courses:
MKT3202 Marketing Communications
MKT3201 Consumer Behavior
MKT3214 Brand Management

 

Merit Certificate in Tourism and Hospitality Management (9 credits / 15 ECTS)

Required courses:
MKT3221 Tourism Practices and Principles
MGT3215 Hospitality Management
MKT3222 Cross-Cultural Tourism Marketing

 

CERTIFICATE IN LEADERSHIP

The purpose of the Leadership Development Program is to help KIMEP students develop the necessary skills to assume key positions in Kazakhstani business and government.  It focuses on the practical application of leadership skills, ending in a supervised internship.  Those students who fulfill all Program requirements listed below receive a Certificate in Leadership.

Certificate in Leadership (9 credits / 15 ECTS)

Required courses:
LDP3201 Leadership: Principles and Best Practices
LDP4201 Leadership: Making Principles Work
LDP4202 Leadership in Action

FIN2105 Business Microeconomics (3 Credits; 5 ECTS)

Prerequisites: None 

This is an introduction to microeconomic concepts and techniques (mathematical and statistical) that are useful for business decision-making. The course begins by examining markets -the interaction of demand and supply. It examines the determinants of demand, and the cost structures that underlie supply. It also looks at the dynamic process of price adjustment. Next, various models of profit maximization are developed, under different competitive assumptions. Finally, the course looks at strategic problems. While there is no prerequisite for this course, the course moves quickly and develops an intermediate level of microeconomic theory.

 

FIN2106 Business Macroeconomics (3 Credits; 5 ECTS)

Prerequisites: None 

This is an introduction to macroeconomic concepts and techniques (mathematical and statistical) that are useful for business decision-making. The course begins by developing Keynesian models of income determination and multiplier effects. It moves quickly to the interaction of real and financial markets, and the process of income determination and money creation. Emphasis is placed on predicting the impacts of fiscal and monetary policy. Students will develop a computer simulation, and use the computer model to analyze policy variables. Finally, the course introduces models of the open economy, and provides basic techniques for determination of spot and forward exchange rates. 

 

FIN3101 Financial Institutions and Markets (3 Credits; 5 ECTS)

Prerequisites: FIN2106 Business Macroeconomics

The course introduces topics such as the functions, organization, structure and regulation of financial institutions and markets. Students also study the role and operations of financial markets and institutions in the economy, supply and demand for funds, interest rate determination, monetary and fiscal policy, and flow of funds analysis. In addition, the course analyzes basics of financial policies and operations of commercial banks and other financial institutions as well as an overview of the globalization of financial markets and institutions. 

 

FIN3121 Principles of Finance (3 Credits; 5 ECTS)

Prerequisites: ACC2102 Financial Accounting I

This is an introductory course to the field of finance with a broad scope and emphasis on general principles. The objective of the course is to introduce basic tools and techniques essential in understanding major theories of Finance and making financial decisions. Students will learn basics of financial system, time value of money and discounting, financial performance analysis, basics of capital budgeting, basics of stock and bond valuation, and introduction to corporate finance.

 

FIN3200 Ethics in Finance (3 Credits ; 5 ECTS)

Prerequisites: FIN3121 Principles of Finance, FIN3101 Financial Institutions and Markets

This 2-credit course will examine issues in ethics that arise from a financial context.  We will begin with ethical theories such as Kantianism, Utilitarianism, Virtue Ethics, Care Ethics, and Contract theory.  We will then explore contemporary issues involving Corporate Governance, Corporate Social Responsibility, Corporate Sustainability, Socially Responsible Investing and share holder activism, and Stakeholder Theory.  The course will examine in detail major cases of financial fraud, e.g. Mad off, Enron, BTA Bank.  Finally, students will prepare and present a business case in Kazakhstan dealing with financial ethics. Course materials will consist of articles, research articles, business cases and notes, and The Code of Ethics and Standards of Professional Conduct of the CFA Institute.  

 

FIN3210 Corporate Finance (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

This is an intermediate business financial management course, combining theory and applications. The course focuses on detailed look at capital budgeting methods including Net Present Value and Internal Rate of Return, capital budgeting under uncertainty, risk and return analysis, financial planning and forecasting, dividend policy, capital structure policy, working capital policy, and interactions of investment and financing decisions.

 

FIN3220 Investments (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

This course introduces the foundations of portfolio theory, asset pricing, trading and valuing securities as well as provides frameworks for investment analysis of various financial instruments. The course begins with an introduction of the modern portfolio theory and then turns to asset valuation based on the capital asset pricing model and arbitrage pricing theory. The two subsequent areas of study are valuation and analysis of fixed income instruments and stocks. Overall, this course represents the minimal financial theory and necessary practical tools with which an undergraduate student majoring in finance should be able to make meaningful investment decisions and be prepared for advanced courses in investment management.

 

FIN3230 Financial Institutions Management (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

The course provides an analysis of the role of private financial intermediaries in providing financial services to the public with a focus on the latest techniques of asset/liability and risk management in modern day financial institutions. Other topics include the impact of recent regulations and the breakdown of geographic barriers worldwide on the risks and opportunities to financial institutions. The impact of ethical, technological and diversity issues affecting managerial decision making in financial intermediation is also discussed. 

 

FIN4211 Financial Modeling (3 Credits; 5 ECTS)

Prerequisites: FIN3220 Investments

This course will involve using spreadsheets to model financial transactions, perform valuations, and solve complex financial problems from all areas of finance (equity, debt, and their derivatives). It will also involve the use of financial functions and formulas, macros, and new programming in various financial applications. Intermediate knowledge of any electronic spreadsheet (Microsoft Excel, Lotus, etc.) is required. 

 

FIN4212 Mergers and Acquisitions (3 Credits; 5 ECTS)

Prerequisites: FIN3210 Corporate Finance

The course provides the key financial sources and instruments used for mergers and acquisitions (M&A) deals; how to select the most appropriate type of financing – debt, equity, or a combination of the two; financing via debt, bonds, and leases, and ways to borrow or lend; tactics considered in contracts, including contingent payments, earn-outs, and equity kickers; how to determine when refinancing is necessary; how volatile global events can affect economic systems and M&A financing and refinancing; debt/equity hybrids and other financing methods. 

 

FIN4214 Introduction to Financial Statement Analysis (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

The course objective is to teach students to accurately read and analyze financial statements of various companies in a variety of industries. It examines the uses and misuses of financial statement data for a wide range of financing decisions. The course analyzes various reporting options that affect income, assets, cash flow forecasts, financial ratios, and trends; distinguishes between accounting rules and underlying economic realities; and examines approaches that analysts can take when external reports do not reflect a firm’s underlying economics. The course focuses on the pragmatic implications of corporate disclosures and nondisclosures.

 

FIN4220 Real Estate Finance (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

This course provides a broad introduction to real estate finance. Project evaluation, financing strategies, and capital markets issues related to real estate are covered. Other topics include real estate law, government regulations of real estate uses, development and marketing of commercial and residential real estate.

 

FIN4221 Investment Banking (3 Credits; 5 ECTS)

Prerequisites: FIN3210 Corporate Finance

The course provides a study of investment banking activities, including their regulatory, institutional and market environments, with extensive reference to the global marketplace. Students will learn the analysis of the main investment banking services with emphasis on the mechanics and economics of the issuance process. Analysis of the market for new issues and appraisal of their spread and price performance will be provided. Consideration of ethical, technological and diversity issues in investment banking operations will be made.

 

FIN4224 Introduction to Financial Derivatives (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

This course offers an introduction to derivative markets. A derivative is an instrument whose value depends on the values of other more basic underlying variables. This course focuses on financial derivatives. Emphasis is placed on organization and role of put and call options markets, futures and forward markets, swaps markets, and their interrelations. Major topics include arbitrage relations, valuation, hedging and speculating with derivatives and implementation of derivatives trading strategies.

 

FIN4225 Fixed-Income Securities (3 Credits; 5 ECTS)

Prerequisites: FIN3220 Investments 

The course provides in-depth coverage, analysis, and guidance on analysis and management of fixed-income securities. Topics include types and features of fixed income securities; risks and risk control strategies; mortgage- backed and asset-backed securities; bond market indexes; bonds with embedded options; floating rate securities; municipal bonds; fixed-income portfolio management; treasury securities; inflation-indexed bonds; and interest rate derivatives and their applications.

 

FIN4231 Commercial Bank Management (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

 The course aims on understanding the field of banking from the perspectives of both a bank customer as well as a bank manager. Topics include introduction to the business of banking; asset-liability management techniques and hedging against interest rate and credit risk; managing the bank’s investment portfolio and liquidity position; managing bank sources of funds; providing loans to businesses and consumers; the bank’s organizational structure and service options; and developing a channel for future growth and expansion.

 

FIN4232 Risk Management (3 Credits; 5 ECTS)

Prerequisites: FIN4224 Introduction to Financial Derivatives

The course provides comprehensive analyses and insights in risk management including: overview of risk management -from the history of risk management to the new regulatory and trading environment; a look at past and present risk management; risk management program designs; techniques to organize the risk management function; develop a system to cover organizations exposures; and risk management implementation including the use of the myriad systems to derive value at risk (VaR), stress-testing, and derivatives for measuring and hedging risk in today’s marketplace.

 

FIN4235 International Financial Management (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

This course covers principles and applications of managerial finance in an international context. Particular emphasis is placed on financial management of multinational business. Major topics include analysis of opportunities, risks and problems unique to businesses involved in multinational operations, international financial environment, international sources and uses of funds, foreign exchange risk management, and managing international assets, liabilities, and securities.

 

FIN4240 Security Analysis and Portfolio Management (3 Credits; 5 ECTS)

Prerequisites: FIN3220 Investments

This is an advanced investment course designed to expand knowledge acquired in the introductory investment course. The course provides thorough analysis of security valuation techniques and systematic portfolio management. The topics include the processes and principles of financial valuation, valuation models and components, valuation of debt, equity and other securities, portfolio construction and analysis, strategic management of various classes of assets, and portfolio applications and portfolio evaluation.

 

FIN4241 Case Studies in Finance (3 Credits; 5 ECTS)

Prerequisites: FIN3210 Corporate Finance, FIN3220 Investments, FIN3230 Financial Institutions Management and 90 credits completed

The course offers various advanced case studies on practical problems in planning, procuring, and maintaining optimum distribution and utilization of financial resources of business entities. Topics of case studies will vary depending on the interests of students, and the course instructor. 

 

FIN4242 Selected Topics in Finance (3 Credits; 5 ECTS)

Prerequisite: FIN3210 Corporate Finance, FIN3220 Investments, FIN3230 Financial Institutions Management 

The course examines particular issues and contemporary subject areas in Finance at an advanced level. Selection of topics depends on students and instructors preferences. 

 

FIN4246 Insurance (3 Credits; 5 ECTS)

Prerequisites: FIN3121 Principles of Finance, FIN3101 Financial Institutions and Markets

This course explores the principles of risk management and insurance. The course provides an understanding of the foundations, applications and selection of insurance. Fundamentals of life and health insurance as well as property and liability insurance will be included. Enterprise risk management for corporations, financial risk management, overview of employee benefits, and strategic policies to mitigate risk will also be covered. The student will also learn insurance relations, rules and regulation in Kazakhstan in this course.

 

FIN4247 Financial Regulations and Supervision (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

Financial regulation and supervision course focuses on the public regulation of the financial markets and financial intermediaries – topics of high relevance in today’s environment of ongoing transformation of the way financial markets are regulated. The course aims to develop students’ understanding of theory and practice of regulation and supervision of financial markets. After introducing the general principles of effective regulation and supervision of financial markets and institutions, the course is broadly split into three main parts focusing on the following key areas: Regulation of securities markets, Regulation and supervision of financial institutions and financial regulation and supervision in Kazakhstan.

 

FIN4248 Islamic Banking and Finance (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

The ongoing turbulence and crises in the modern financial system has drawn attention towards an alternative system of financial intermediation, Islamic banking and finance. The objective of this course is to introduce students to the alternative banking practices and financial market operations which are based on the Shari’ah principles. Major topics include the fundamental Muslim beliefs, Shari’ah objectives, sources of Shari’ah rules and role of Shari’ah boards in supervision of banking and financial market practices, difference between conventional and Islamic banking, prohibition of riba and rationale of Islamic banking, key principles of Islamic banking and investment, the basic Shari’ah rules for economic and financial transactions, conventional and Islamic modes of financing: murabaha, mudaraba, musharaka, ijara, istisna’a and salam, the problems of moral hazards and adverse selection in Islamic finance and conventional versus Islamic (Takaful) insurance.   

 

FIN4250 Personal and Entrepreneurial Finance (3 Credits; 5 ECTS)

Prerequisites: FIN3101 Financial Institutions and Markets, FIN3121 Principles of Finance

This course focuses on the analysis of the problems involved in efficient handling of personal finance. Also, an opportunity to run a business is deeply explored during the course. Topics include: time value calculations, budgeting, career planning, banking, insurance, home buying, consumer credits and money management, investment planning, retirement planning, and estate planning. Besides that, the course focuses on efficient business planning. The course is useful and interesting for those whose major specialization is finance as well as for those who do not major in finance.

 

FIN4275 Thesis (2 Credits; 4 ECTS )

Prerequisites: completion of the General Education and Program courses

A thesis is a research work on a topic that is in the area of Finance. Students will be supervised by faculty members in the process. Further details on thesis requirements are provided under the KIMEP University regulations on this matter.

 

FIN4277 State Examination (1 Credit; 3 ECTS)

Prerequisites: completion of the General Education and Program courses

Students are required to take the state examination in Finance. Further details on this requirement are provided under the KIMEP University regulations on this matter.

 

FIN4280/FIN4290 State Specialized Examinations (2 credits; 4 ECTS) 

Prerequisites: completion of the General Education and Program courses

Students can take state specialized examinations under certain conditions. Further details on this requirement are provided under the KIMEP University regulations on this matter.

 

FIN4251.2 Internship Program in Finance II (2 Credits; 2 ECTS)

Prerequisites:70 KIMEP credits and  BUS4251.1 Internship Program I

Familiarization with the organizational structure of the internship host-organization, with the area of its activities; learning mode of operation of the organization;   learning the organizational documents of the organization; acquiring the skills of collecting and processing of primary information in the field of finance; carrying out a comparative analysis of the organization; identifying gaps and suggesting the ways to improve the development of the organization.

 

FIN4241.2 Case Studies in Finance (substitute) (2 Credits; 2 ECTS)

Prerequisites: BUS4251.1 Internship Program I and 70 credits completed

The course offers various advanced case studies on practical problems in planning, procuring, and maintaining optimum distribution and utilization of financial resources of business entities. Topics of case studies will vary depending on the interests of students, and the course instructor. 

 

FIN4251.3 Internship Program in Finance III (3 Credits; 5 ECTS)

Prerequisites: FIN4251.2 Internship Program in Finance II or FIN4241.2 Case Studies in Finance (substitute)

The consolidation and intensification of theoretical knowledge and skills acquired by students through the process of theoretical learning; the formation of professional competence; the familiarization with real industrial, technological, and organizational processes going on at the place of internship; the mastering of the profession’s basics  in the operational sphere: the familiarization with and acquirement of the methodology and technology of professional problem-solving; the collection of the necessary for the preparation and compilation of the internship report materials. Bases of internship are organizations related to careers in Finance. 

Scholarship opportunities
There are many opportunities for merit-based scholarships for Kazakhstani and international students.
While studying at KIMEP University, students may also apply for part-time positions available on the University campus.
Contact the Office of Financial Aid, if you would like to apply for scholarship.

Tuition & Fees

Ho Young Lee (3)

Jay Hoyoung Lee, Ph.D.

Dean of the Bang College of Business
Associate Professor of Marketing

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Research and Publications:

A Study on Customer Churn Prediction Model for Customer Relationship Management by Life Insurers, Journal of Korean Insurance Academic Society, 2006


Keun Jung Lee (3)

Keun Jung Lee, Ph.D.

Associate Professor

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Name Keun Jung Lee
Position Associate Professor of Finance, Research Director of BCB
Contact detail kjlee@ kimep.kz     +7(727) 270 4213 ext. 3169
Education background
  • Doctor of Philosophy (PhD), Department of Finance, London School of Economics( LSE), London, UK
  • MPhil in Finance, Department of Accounting and Finance, LSE, London, UK
  • MSc in Shipping, Trade and Finance, CASS Business School, City University, London, UK
  • MBA in International Management, Graduate School of International Management

Chung Ang University, Seoul, Korea

  • BA in International Trade, Department of Management, Chung Ang University, Seoul, Korea
Overview  Keun Jung Lee is an Associate Professor and Research Director, Bang College of Business, KIMEP University, Republic of Kazakhstan; Associate Researcher at Financial Markets Group, London School of Economics and Political Science (LSE), UK. He obtained his MBA  in International Management from  Chung Ang University, Seoul, Korea; MSc in Shipping, Finance and Trade from  City University London, UK, and PhD in Finance from London School of Economics. Dr. Keun Jung Lee published on Corporate governance and firm value, Oil and gas industry and business valuation, Foreign exchange rate and oil price, Foreign direct investment, IPO and financial markets and Capital structure of sovereign wealth fund, Corporate governance.  His research and professional interests are primarily focus on the efficiency of Financial institution and Government policy (incuded SEO) and integration of economy in Transition Economy. Furthermore, Financial markets and Corporate finance in transition Economy, Culture and business performance in transition Economy, Eurasia Economic Union (EEU) in Globalization.  Recently, Dr. Keun Jung Lee has been invited as speaker from prestige international intuitions (hosts); Property Rights in Emerging Economies (British Academy), Kazakhstan-Korea Energy Forum ( Astana Expo, KEPCO), Policy Workshop for Efficient Management of State Owned Enterprises ( Asia Development Bank Institution), The Public Diplomacy in Central Asia ( Ministry of Foreign Affairs of Korea), Transformation and Economic Development in South and North Korea and Mutual Learning from Central Asia ( Academy of Korean Studies), The Strategy of Foreign Direct Investment in Kazakhstan (Korea Embassy, Kazakhstan).

 

Research Interests  Research in Process

1.       Banking efficiency in transition economies: Case of Kazakhstan.

2.      Early Warning System of Kazakhstani Commercial Banks,

3.      Culture and business performance in transition economy.

4.      Corporate governance , cost of capital and financial liberalization

5.      Innovation problem on Business Group in Asia

Research Interests

  • Corporate Finance and Corporate Governance
  • Financial Institutions and Risk
  • International Trade  and International Corporate Finance
  • Oil, Gas and Renewable Energy in Finance  
  • Fintech , Block chain and Corporate governance
Selected Publications 1.Keun Jung Lee, The Performance of Entrepreneurship Development Fund for SMEs in Transition Economy, World Review of Entrepreneurship, Management and Sustainable Development, 2017 (Revise and Resubmit), 2017

2.Keun Jung Lee and Assel Kenzhegul, Perspectives of ‘People’s IPO’ program in Kazakhstan, International Research Journal of Finance and Economics.( forthcoming), 2017

3.Keun Jung Lee, The relationship between FDI, Diversification and Economic Growth in Natural Resource Oriented Countries: Case of Kazakhstan, Journal of International Business and Economics,Vol.3 No2, 2016

4.Nurlan Orazalin and Keun Jung Lee, Corporate Governance, Financial Crisis, and Firm Performance: Lesson from Russian banks, Journal of Corporate Governance. Vol.16, No 5, pp. 796-814, 2016

5. Gulnara B. Moldasheva and Keun Jung Lee, Corporate governance, leverage and performance of non-financial firms in Kazakhstan, European Journal of Economics, Finance and Administrative Sciences. 2015

6. Nurlan Orazalin and Keun Jung Lee, Bank ownership and performance: Evidence from Russia in a post crisis period, Journal of Accounting, Finance and Economics. 2015

7. Keun Jung Lee and Raissa Loginova, The interdependence between Balance of Trade and Real Exchange Rate in Kazakhstan, European Journal of Economics, Finance and Administrative Sciences, Issue 78, July, 2015.

8. Keun Jung Lee and Rinat Arslanov, Is there interdependence between Oil Price and currency Value in Kazakhstan? International Research Journal of Finance and Economics, Issue 137, 2015.

9. Keun Jung Lee and Assel Yerbassova, Cross-listed Stock Prices, Market Efficiency and IPO, European Scientific Journal, Vol.9, No.31, 2013, ISSN: 1857-7431 (Online) and 1857-7881 (Print)

10. ‘Ownership Structure, Investment and Capital Structure in Financial Liberalization’, 13th EBES Conference- proceeding (Scopus Index, Springer), 2014

11. ‘CEO Characteristics and Firm Performance: Evidence from Listed Kazakhstan Companies’, 13th EBES Conference- proceeding (Scopus Index, Springer), 2014

12. ‘Ownership Structure and Firm Value in Sovereign Wealth Fund’, 13th EBES Conference- Conference- proceeding (Scopus Index, Springer), 2014

Invited Conference Presentations

1. Property rights and Theory of firm, International Workshop, KIMEP, 1 Sep, 2017

2. The Strategy of Energy Business between Kazakhstan and Korea, Kazakhstan- Korea Energy Forum, Rixps Hotel Astana, 19 July 2017

3 SOE performance in Kazakhstan, ADBI-KIMEP Conference, 31 May-1 June 2017, Almaty, Kazakhstan, 2017

4. The Public diplomacy in Kazakhstan, Korean Embassy, 2017

5. ‘Foreign Direct Investment in Kazakhstan’: Kazakhstan –Korean Business Forum, Korean Embassy, KIMEP, 2015

6. ‘Ownership structure in Kazakhstan and around world’: Transformation and Economic Development in South and North Korea and Mutual Learning from Central Asia, Academy of Korean Studies, Almaty, KIMEP, 2015

7. ‘Firm Valuation in Oil and Gas Industry’, KIRC, KIMEP, 2015

8. ‘Ownership Structure, Investment and Capital Structure in Financial Liberalization’, 13th EBES Conference- Istanbul, June 5-7, 2014

9. ‘CEO Characteristics and Firm Performance: Evidence from Listed Kazakhstan Companies’, 13th EBES Conference- Istanbul, June 5-7, 2014

10. ‘Ownership Structure and Firm Value in Sovereign Wealth Fund’, 13th EBES Conference- Istanbul, June 5-7, 2014

11. ‘Underinvestment or Overinvestment in Kazakhstan Companies’, KIRC, KIMEP 2014

12. ‘The firm diversification and firm value’, Research seminar, BCB, KIMEP, Fall2014

13. ‘Comparing between Capital and R&D Expenditure in Expropriation’,                           Research Seminar, BCB, KIMEP, Spring2014

14. Ownership Structure and Firm Value in Listed Kazakhstan Companies, KIRC, KIMEP 2013

15. ‘The firm diversification and firm value in Korean Companies’, Research seminar, BCB, KIMEP, Fall2014

16. ‘Ownership Structure and Firm value in Korean Companies’, Research Seminar, BCB, KIMEP, Spring2014

17. ‘Comparing between Capital and R&D Expenditure in Expropriation

Minority Shareholders’, Journal of Corporate Finance Special Conference on Emerging Markets,

August 23rd-25th, Peking University, China, 2009

18. ‘Agency Conflicts, Diversification and Firm Valuation in Economic Development’ with David C. Webb Financial Market Group Seminar, LSE, London, 2008

20. ‘Corporate Ownership, Investment and Capital Structure in Financial Liberalization’

Financial Market Group Seminar, LSE, London, 2007

Teaching Undergraduate Course:

Business Macroeconomics, BCB, KIMEP, 2013, 2014, 2015

International Financial Management, 2015,216, 217

Financial Institution Management, BCB, KIMEP, S2012, 214, 215

Case study in Finance, BCB, KIMEP, S2013

Principle of Finance, BCB, KIMEP, 2012, 2013,214

Security analysis and portfolio Management, BCB, KIMEP, F2012

Financial Statement Analysis and Security Valuation, BCB, KIMEP, S2012

Financial Institution Management, BCB, KIMEP, S2012

Corporate Finance (in English), Korea University, 2011, 214,215

Corporate Finance and Asset Markets (FM430), LSE, 2006-2009

Principles of Finance (AC 212), LSE, 2006-2009

Principal of Finance (AC212), LSE, 1996-1999

 

MBA/ Master in Finance Course:

Managerial Finance, F2015

Advanced Corporate Finance, 215,216,217

Selected Topics in Finance, summer, 2015

Financial Institution Management, BCB, KIMEP, S2012-F2013, S2014, S2015

Credit and Market Risk management, F2014

Fixed Income, F2014

Alternative Investment, F2014

Investment (in English), Graduate School of International Studies, Yonsei University , 2010

International Economics, Graduate School of International Studies, Ewha Women University, 2010

 

DBA/PhD Course:

Special Topics in Finance, BCB, KIMEP, Fall 2014

Research in Finance, BCB, KIMEP, Fall 2013

Corporate Finance, BCB. KIMEP, Spring 2013

Financial Institution Management, BCB, KIMEP, Fall 2012

Advanced Statistics Analysis (in English),PhD Course, Graduate School of International Studies,

Ewha Women University, 2010

 

Academic Supervision

1. DBA Thesis Supervision at KIMEP

Corporate governance in Transition Economies: Comparative Study on Kazakhstan and Russia, 2013-present, 2012-2015

A Comparative Analysis of Bank Capital and Its Impact on bank Risk –Taking in Eurasian Economic Union, 2012-2016

Corporate Governance in Finance: Ownership structure, Capital Structure and Financial Performance of the Listed Firms in Kazakhstan. 2012-2016

2. MBA Thesis Supervision at KIMEP

2017

The Investigation of Relationship between Free Cash Flow, Investment Behavior, Ownership Stucture and Profitability of the Firms listed on KASE in Oil and Gas Instudtry

The Real Estate Investment Analysis in Kazakhstan

Comparative Analysis of Kazakhstani Banks Performance and VTB Banks

The Impact of Oil Price Changes (volatilites) on the Exchange Rate

2016

Capital Structure and Firm Performance

Option Pricing Model and Discounted Cash Flow Analysis in Application in Investing Decision Making in the Case of Kazakhstani Companies

Corporate Governance in Kazakhstan:Financial Transparency

The Impact of Basel III/II Standards on Kazakhstan Banking System

Capital Structure and Firm Value of Listed Kazakhstani Companies

Development of Private Equity Market in Kazakhstan

2015

Bank Profitability Factors in Kazakhstan

How Financial Growth effect on Economic of Development in Malaysia

Foreign Direct Investment in Kazakhstan

Investment Banking in Kazakhstan: Comparison of Financial Performance and Development Strategy

Long-Run Performance of Kazakhstan IPOs and Its Determinants

Solvency Valuation of the Borrower in Kazakhstan Bank

Analysis of Financing Small and Medium Enterprises in Business Environment of Kazakhstan

Comparing Financial Market Development between Singapore and Kazakhstan

2014-2012

Initial Public Offering of Kazakhstani Companies: Impact on the Firms’ Performance, Summer, 2013

How Kazakhstani Cross-listed Stock prices reflect to information of announcement of IPO?, Spring 2013

Perspectives of “People’s IPO” program in Kazakhstan, Spring 2013

Gold Investment in Kazakhstan, Spring 2012

Early Warning System of Kazakhstani Commercial Banks, Spring 2012

Return and Risk in Carry trade Strategy in Kazakhstan. Spring 2012

‘Change in Credit risk policy after the crisis in Kazakh Bank: JSC “ATFBank” as a Case, Summer 2012

Is there Independence Between oil price and Currency Value in Kazakhstan? Fall 2012

Grants ·         Deutsche Bank Scholarship, London School of Economics, 2007-2009

·         Department of Finance Scholarship, London School of Economics, 2006-2007

·         POSCO Foundation Research grant award, 2017

Awards    The First tier Prize in the   Belt and Road Business Case Global Contest , NingBo, China ,2018

 


Mira-Nurmakhanova

Mira Nurmakhanova, Ph.D.

Associate Professor

More:
Name Mira Nurmakhanova
Position Associate Professor of Finance, Associate Dean of Undergraduate Program
Email address miranur@kimep.kz
Education background PhD. Iowa State University, USA

MA KIMEP University, Kazakhstan

BSc. Kazakh National University, Kazakhstan

Overview Professor Nurmakhanova’s primary research interest focuses on studying the influence of oil prices on macroeconomic performance of the country. Specifically, she examines the effect of oil prices on the economic growth, real exchange rate, stock market, inflation rate, etc. Another research interest is related to performance of microfinance institutions:  extend of trade-off between financial sustainability and outreach of MFIs, effect of regulation on performance of microfinance institutions. Third research interest is related to stability of banking sector. Specifically, she examines the effect of bank market power on both the credit risk-taking attitude of Kazakhstani banks and overall stability of banks.
Research Interests ·         The Effect of Regulation on Performance of Microfinance Institutions: effect of regulation on MFIs performance. When evaluating the impact of regulation following questions are of primary interest: (1) what is the effect of regulation on performance of actually regulated MFI? and (2) what is the effect of regulation on performance of MFIs that opt for regulation once they start taking deposits? In a new contribution to existing literature, our results show the impacts of regulation on performance of actually regulated MFIs and MFIs that opt for regulation once they start taking deposits.

·         Stability of banking sector: effect of bank market power on both the credit risk-taking attitude of Kazakhstani banks and overall stability of banks.

·         Effect of oil prices: effect of oil prices on the economic growth, real exchange rate, stock market, inflation rate, etc.

Selected Publications Articles

 

·         Katenova, M., M. Nurmakhanova. 2017. “Financial Development and Economic Growth: The Case of Kazakhstan”. International Review of Business Research Papers. Vol. 13. No. 1, 151 – 160.

·         Nurmakhanova, M., G. Kretzschmar, H. Fedhilla. 2015. “Trade-off between Financial Sustainability and Outreach of Microfinance Institutions”.  Eurasian Economic Review, Vol. 5, 231-250.

·         Nurmakhanova M., O. Pak. 2013. “The Effect of Market Power on Bank Credit Risk-Taking and Bank Stability in Kazakhstan”, Transition Studies Review, Vol. 20, 335-350.

·         Nurmakhanova M., O. Pak. 2013. “Bank market power and credit risk-taking in Kazakhstan”, Economics: strategy and practice, Vol. 4, p. 73-85.

  • Nurmakhanova M., G. Kretzschmar. 2011. “Kazakhstan – The Real Currency and Growth Challenge for Commodity Producing Countries”, Journal of Business and Policy Research, Vol. 6, 87-105.

 

Conference Papers

 

·         1st International Conference on Energy, Finance and the Macroeconomy. November 22-24, 2017, Montpellier, France. “The Effect of Regulation on Performance of Microfinance Institutions: Evidence from Cross Countries”.

·         Sixth Regional Conference of the Central Eurasian Studies Society (CESS). June-July 2017, Bishkek, Kyrgyzstan, “Oil and Growth Challenge in Kazakhstan”.

·         Eurasian Business and Economics Society, EBES 2017, May 2017, Rome, Italy.  “Oil prices and stock market in Kazakhstan”.

·         Euro-Asia Forum in Politics, Economics and Business, July 2016, Belgrade, Serbia. “Oil and Growth Challenge in Kazakhstan”.

·         The Economics Education and Research Consortium (EERC) 40-th Research workshop, May 2016, Kiyv. “Oil and Growth Challenge in Kazakhstan”.

·         The Economics Education and Research Consortium (EERC) 39-th Research workshop, December 2015, Kiyv. “Oil and Growth Challenge in Kazakhstan”.

·         The Economics Education and Research Consortium (EERC) 37-th Research workshop, December 2014, Kiyv. “Oil and Growth Challenge in Kazakhstan”.

·         The Economics Education and Research Consortium (EERC) 36-th Research workshop, June-July 2014, Kiyv. “Oil and Growth Challenge in Kazakhstan”.

·         Portuguese Finance Network, PFN 2014, Algarve University, June 2014, Faro, Portugal. “The Effect of Regulation on Performance of Microfinance Institutions”.

·         The Rimini Conference in Economics and Finance, RCEF-2014, Rimini Centre for Economic Analysis Rimini, June 2014, Italy. “Oil Prices, Exchange Rates and Stock Market in Kazakhstan”.

·         Eurasian Business and Economics Society, EBES 2014, Bilim University, Istanbul, June 2014, Turkey. “Financial Loss Distribution Behaviour Associated with MFI Outreach Financing”.

·         ESNIE 2014, Dauphine University, Paris, May 2014, France. “The Effect of Regulation on Performance of

Microfinance Institutions”.

·         Rimini Bayesian Workshop, University of Bologna, Rimini Campus, June 2013, Italy. “Financial Loss Distribution Behaviour Associated with MFI Outreach Financing”.

·         Research seminar, Dublin Institute of Technology, November 2012, Dublin, Ireland. “The impact of bank market power on bank credit risk-taking and stability in Kazakhstan”.

·         Business and Social Science Research Conference, January 2011, Dubai. “Kazakhstan- the real currency and growth challenge for commodity producing countries”.

·         4th workshop of Centre for Advanced Studies in Economics and Econometrics, June 2010, Faro, Portugal. “Effect of Oil Prices on Macroeconomic Performance of the Country”.

·         AAEA meeting, July 2008, Orlando, USA. “Timing of Fertilizer Applications: Environmental Implications”.

·         AAEA meeting, July 2006, Los Angeles, USA.”Effect of Crop Choice on Split Fertilizer Application”.

Teaching Current Courses Taught

·         Business Microeconomics

·         Business Macroeconomics

·         Principles of Finance

Grants/Fellowships ·         Principal investigator (2013), research grant sponsored by the Economic Education and Research Consortium, EERC, entitled by “Oil and Growth Challenge in Kazakhstan”.

·         Career Integration Fellowship (CIF) (2014)  CERGE-EI Teaching Fellows program

Awards ·         Teaching Excellence Award, KIMEP, 2015 and 2018

·         Paper titled “Kazakhstan – The Real Currency and Growth Challenge for Commodity Producing Countries” was presented on a Business and Social Science Research Conference in Dubai in January 2011 and won a Best Paper Award.


Alimshan-Faizulayev

Alimshan Faizulayev, Ph.D.

Assistant Professor

More:

Educational Background and Bio:

Dr. Alimshan Faizulayev completed his Ph.D in Finance in Eastern Mediterranean University (N.Cyprus). His research mainly based on Banking, Islamic banking, Investment, Energy Conservation, Corporate Finance. Previously he was teaching financial accounting at American Hotel & Lodging Educational Institute (AHLEI -USA), and  in Banking and Finance department of Eastern Mediterranean University (N.Cyprus). Also, Dr. Alimshan has been working as Investment Consultant in Dovec Group of Companies (N.Cyprus) since 2017.


Alma Sharipova_2

Alma Sharipova, Ph.D.

Assistant Professor

More:
Name Alma Sharipova
Position Assistant Professor in Banking and Finance
Contact detail a.sharipova@kimep.kz, ext: 2036
Education background PhD (Banking and Finance), Middlesex University Business School, UK

MSc (Research Methods for Business and Management), Middlesex University Business School, UK

MA (Central Banking), Hochschule für Technik und Wirtschaft Berlin, Germany

Overview Professor Alma Sharipova’s research interests are in the area of financial institutions and markets as they relate to financial systems stability. Specifically this includes empirical research on the role of central banking in promoting long-term financial institutions and markets sustainability.

Professor Alma Sharipova has a Doctorate in finance, economics and equivalent experience. She has a demonstrated track record in writing papers for publication. Professor Alma Sharipova’s paper was published in top ranked peer-reviewed Journal of International Financial Markets, Institutions & Money. She has presented her different research papers at scientific conferences.

She worked at prestigious higher education institutions in the UK. She worked as a teaching fellow at the SOAS University of London, Economics Department, and at the University College London, School of Public Policy, University of London. Besides, she has skills of practical use of financial packages such as FAME/ Bankscope, DataStream and Bloomberg.

Research Interests  

·         Bank stability and competition

·         Financial system fragility

·         Regulation and central banking

·         Banking in Eastern European countries and the CISs

 

Selected Publications Articles (In English)

·         Sharipova, A. 2018. Bank Competition and Stability in the CISs Markets. Journal of International Financial Markets, Institutions & Money, 54C, pp. 190-203

·         Sharipova, A. 2018. Cost and Profit Efficiency and Financial Integration in the CIS Countries (to be submitted to the REF-related journal)

 

Conference Papers

 

·         Bank Competition and Stability in the CIS markets

Paper presented at the 4th European Conference on Banking and the Economy (ECOBATE 2016)

Winchester, UK

·         Cost and profit efficiency and financial integration in the CISs

Paper presented  at 4th Global Conference on Economic Geography

Oxford University, UK

·         Technical Efficiency of the CISs Banks

Paper presentation at Research Summer Conference 2015

Middlesex University, London, UK

 

Teaching Current Courses Taught

·         Financial Institutions and Markets

·         Financial Institutions Management

·         Managerial Economics

·         Macroeconomics

 

Courses Taught at School of Oriental and African Studies (SOAS), University of London

·         Banking and Finance

 

Courses Taught at University College London (UCL), University of London

·         Public policy,

·         Economics and Analysis

 

Courses Taught at Middlesex University Business School (London, UK)

·         Financial institutions

·         Economics

 

Awards Fully funded PhD in Financial Economics in January 2016 for 4 years. Middlesex University business School, London UK. The fund was given for studying banking sector stability, efficiency and competition in the former Soviet countries.


Balzhan Zhussupova (1)

Balzhan Zhussupova, Ph.D.

Assistant Professor

More:
Name Balzhan Zhussupova
Position Assistant Professor, Department of Accounting and Finance
Contact details b.zhussupova@kimep.kz, tel. ex: 2021
Education background PhD (studies on banking), Bangor University, Wales, UK
MBA (Banking and Finance), University of Wales, UK
Certifications Certified Internal Auditor (the Institute of Internal Auditors, US)
Certified Fraud Examiner (American Association of Certified Fraud Examiners, US)
Overview Professor Balzhan Zhussupova is a business practitioner teaching different courses in finance and accounting. She worked in financial institutions in macroeconomic research, credit analysis and internal audit function. Her current research interest focuses on studying the rationale for mandatory auditor rotation in banking industry. Another research area is the quality of financial disclosure and corporate governance characteristics in developing countries.
Research Interests Corporate frauds, auditing, banking, corporate governance and disclosure quality
Teaching interests – Auditing
– Fraud examination
– Financial institutions management/Bank management
Book chapter Altunbas Y., D. Marques-Ibanez and B. Zhussupova (2008). Capital market frictions and bank lending in the EU, in Frontiers of Banks in a Global Economy, Palgrave Macmillan. P. Molyneux and E. Vallelado (eds).


Maya Katenova (1)

Maya Katenova, DBA

Assistant Professor

More:
Name Maya Katenova
Position Assistant Professor of Finance
Contact detail mayak@kimep.kz, ex) 2018
Education background DBA (Finance), KIMEP University

Professional Financial Manager, ICFM, UK

MPA (Public Administration),KIMEP University

BSS, KIMEP University

Overview Dr. Katenova’s primary research interests are in the area of financial markets and institutions and their influence on economic business cycles. Moreover, she is interested in such issues as financial literacy, monetary transmission mechanism and the future of banking.
Research Interests ·         Financial markets development

·         Financial intermediation

·         Financial literacy

·         Monetary transmission mechanism

·         Future of banking

Selected Publications Articles (In English)

1. Katenova (2013) “Procyclicality and Bank Capital”, World Journal of Social Sciences, Vol. 3, No 6, pp.164-174, USA

2. Katenova (2013)“Fisher Hypothesis in Kazakhstan, Kyrgyzstan and Russia” , GBATA Book, ISBN: 1-932917-09-8, p.57

3. Katenova and Mahmood (2012) “Employee job satisfaction in a transition economy: is Herzberg Theory valid in Kazakhstan?”, Journal of International Management Studies, Vol.13, No.2, pp.61-67

4. Katenova and Syzdykov (2015)“The Correlation of Bank profits and economic conditions: The Case of Kazakhstan”, International Journal of Business Research Papers, Number 1, Volume 11 in March issue of 2015

5. Katenova (2015)“The issue of procyclicality in banking sector of Kazakhstan during financial crisis”, International Journal of Business, Management and Allied Sciences, Volume 2, Issue 3, July-September, ISSN 2349-4638

6. Katenova and Syzdykov (2016) “A Look at the Liquidity problem at KASE in Kazakhstan”, Statistics, account and audit, UDC 336

7. Katenova and Dumlupinar (2016) “Relation of Marketing and Profitability of Kazakhstan Banks”, Nidge University Department of Business Administration, Vol. 9 (3)

9. Katenova, Syzdykov and Gissy (2017) “The causal link between financial sector and economic development: Case of Kazakhstan”, Volume 8, No. 2, International Journal of Business Administration

10. Katenova and Nurmakhanova (2017) “Financial development and economic growth: the case of Kazakhstan”, International Review of Business Research Papers, Vol. 13, No. 1, pp. 151-160

11. Katenova and Lee (2017) “Does mutual causality between direct and indirect finance and economic growth exist in Russian Federation?” Anais da Academia Brasileira de Ciencias (2017) 89 (3 Suppl.): 2544-2557, Non zero Impact Factor

Conference Papers

1. IX KIMEP International Research Conference, (KIRC Conference), Procyclicality and Bank Capital, April, 19-21, 2012

2. X KIMEP International Research Conference, (KIRC Conference), Foreign versus domestic banks in Kazakhstan, 2013

3. XII KIMEP International Research Conference, (KIRC Conference), The issue of asymmetric information in banking industry of Kazakhstan

4. GBATA Conference, July, 2-6, 2013, Fisher hypothesis in Kazakhstan, Kyrgyzstan and Russia, Helsinki, Finland

5. EBES Conference, Marketing in banking industry, September, 12-14, 2013, Yekaterinburg, Russia

6. EBES Conference, June 5-7, 2014, CEO Characteristics and Firm Performance: Evidence from Listed Kazakhstani Companies Keun Jung Lee, KIMEP University, Kazakhstan; Maya Katenova, KIMEP University, Kazakhstan

7. Melvana Exchange Program, March, 23-28, Research collaboration, Thesis improvement, Antalya, Akdeniz University

8. Innocast Bukhara Training, March, 10-11, 2016, Bukhara, Uzbekistan

9. KIRC, April, 7-8, 2016, Comparative analysis between Kazakhstan’s financial system and Russian financial system,

10. Business and Society: Modern priorities of development, May, 24, 2016, ALMA Management University

11. KIRC Conference, April, 7-8, 2017, “The mutual causality between financial development and economic growth”

12. KIRC Conference, April, 7-8, 2017, “Are stock market and exchange rate affected by oil price in Kazakhstan?”

Teaching Current Courses Taught:

Financial Institutions and Markets

Financial Institutions Management

Ethics in Finance

Principles of Finance

Foundation of Accounting

Foundation of Finance

Grants ·
Awards ·         Teaching Excellence Award


pak-olga

Olga Pak, PRM, DBA, Ph.D

Assistant Professor

More:
Name Olga Pak
Position Assistant Professor of Finance, Bang College of Business
Contact detail olgapak@kimep.kz, +7(727) 2704360 ext. 2057
Education background Ph.D. (Economics), Kyushu University, Japan
DBA (Finance), KIMEP University, Kazakhstan

PRM (Professionally certified risk manager), Professional Risk Manager’s International Association, USA

MBA (International Banking and Finance), University of Birmingham, United Kingdom

BSc (Credit and Finance),  NARXOZ University, Kazakhstan

Overview Olga Pak has experience in the banking industry and expertise in financial risks’ measurement and management. She conducted the series of professional trainings such as “Basel 2 and 2.5 capital standards for commercial banks”, “Futures and options as instruments to hedge price risk”, PRM preparatory courses. In 2010, Olga Pak was a visiting faculty at the business school of the University of Pittsburgh (USA).

Olga’s primary research interests focus on banking performance and stability in the light of ongoing integration processes and introduction of Basel III micro and macro-prudential regulation the  countries of the Eurasian region.

Research Interests Financial integration

Micro and macro – prudential regulation of the banking sector in the EAEU

Banking performance and stability

Selected Publications Articles:

 

Pak. O., Iwata, K. 2019b. A Path to Financial Integration: Steps for the Eurasian Economic Union. Asia Europe Journalhttps://doi.org/10.1007/s10308-018-00531-1

 

Pak. O. 2019a. The Impact of State Ownership and Business Models on Bank Stability: Empirical Evidence from the Eurasian Economic Union. The Quarterly Review of Economics and Finance, 71, 161-175.

 

Pak, O. 2018. Business Drivers of Bank Stability in Kazakhstan. Review of Integrative Business and Economics, Volume 7 (1). RIBER Best Paper Prize.

 

Pak, O., Kretzschmar, G. 2016. Western Sanctions – Only Half the Challenge for Russia’s Economic Union. Research in International Business and Finance, 38, 577 – 592.

 

Pak O., Mahmood, M. 2015. Impact of Personality on Risk Tolerance and Investment Decisions: A Study on Potential Investors of Kazakhstan. International Journal of Commerce and Management, 25 (4), 370 – 384.

 

Pak, O., Nurmakhanova, M. 2013. The Effect of Market Power on Bank Credit Risk-Taking and Bank Stability in Kazakhstan. Transition Studies Review, 20 (3), 335-350.

 

Bhatti, R., Pak, O. 2013. Stock Return and Inflation in Kazakhstan, Russia and Ukraine. International Journal of Economics and Finance Studies, 5(1), 258-270.

 

Pak, O. 2013. What Factors Drive Bank Stock Returns in Kazakhstan? Central Asia Business Journal, 5 (1), 32-40.

 

Pak, O. 2011. From Traditional Lectures to Active Learning: How to Increase the Effectiveness of Lectures. Published in the proceedings of the seminar “Teaching Excellence” sponsored by the Bureau of Educational and Cultural Affairs of the US Department of State, Almaty: Evero, pp. 30-48, in Russian.

Conference presentations:

“Systemically important banks in Russia, Kazakhstan and Belarus”. 16th KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2019.

“The Net stable funding ratio: Analysis and issues”. 15th KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2018.

“Business drivers of bank stability in Kazakhstan”. Society of Interdisciplinary Business Research, Osaka, Japan, July 2017.

“Comparative analysis of banking structures in the EU and EAEU”. EUSA Asia-Pacific conference & Postgraduate Workshop, Tokyo, Japan, July 2017.

“Western sanctions – only half the challenge for Russia’s Economic Union”, with G. Kretzschmar. Kazakh-British Technical University Conference, Almaty, Kazakhstan, April 2016.

“Specific determinants of bank capital in Kazakhstan”. 12th KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2015.

“Market power and credit risk-taking in the Kazakhstani banking sector”, with M. Nurmakhanova. Round table “Misbalances and reforms in the global financial system”, Institute of Economics under the Ministry of Education of RK, Almaty, Kazakhstan, November 2013.

“Stock return and inflation in Kazakhstan, Russia and Ukraine”, with R. Bhatti. 3d International Conference on Economics and Finance (ICEF), Izmir, Turkey, April 2013.

“Personality, risk perception and investment decisions: a study on potential investors of Kazakhstan”. 9th Annual KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2012.

“Bank stock returns, loan growth and bank fundamentals: the evidence from Kazakhstan”, with S.H. Lee. 9th Annual KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2012.

“The impact of bank competition on bank credit risk – taking and bank stability in Kazakhstan”, with M. Nurmakhanova. 8th Annual KIMEP International Research Conference (KIRC), Almaty, Kazakhstan, April 2011.

“The global financial crisis and its impact on the bank and debt restructuring in Kazakhstan”. International Business School (IBC), the University of Pittsburgh (PA, USA), March 2010.

Teaching Current Courses Taught

 

Introduction to Financial Derivatives

Financial Institutions and Markets

Investments

Financial Institutions Management

Derivatives

Investment and Financing Decision-making

Grants/Awards Research Excellence Award 2019, BCB, KIMEP University

JSPS Ronpaku Ph.D. scholarship 2016 – 2019 , Kyushu University, Japan

Teaching Excellence Award 2015, BCB, KIMEP University

Junior Faculty Development Program 2010. U.S. Department of State, USA

International Scholarship of the Kazakhstani President “Bolashak” 2001- 2002, Kazakhstan


Olga Uzhegova

Uzhegova Olga, DBA

Assistant Professor

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Assistant Professor of Finance 

EDUCATION 

DBA, Major in Finance, KIMEP University, 2010

Dissertation Topic: “The Relative Importance of Bank-Specific and Environmental Factors for Bank Profitability
in Developed and Emerging Economies”
 

MBA, Major in Finance and Accounting, Kazakhstan Institute of Management, Economics and Strategic Research under the President of the Republic of Kazakhstan (KIMEP), 2001 

Processing Engineer, Almaty Technological Institute, 1999 

WORK EXPERIENCE 

TeachingExperience

  • KIMEP University, Assistant Professor of Finance, Fall 2010‐Spring 2013, June 2014 – Present
  • KIMEP University, Part-time lecturer (Evening MBA program), September 2002 – 2004 

AdministrativeExperience

  • Associate Vice President, Administration and Planning, KIMEP U., December 20, 2013 ‐ May 31, 2014
  • Deputy to the President for Government Relations & Development, KIMEP U., Mid-January 2012- December 19, 2013
  • Corporate Secretary,KIMEP U., November 2004- present
  • Director of Development, KIMEP, September  2008- Mid-January 2012
  • Director of Joint-Stock Company Affairs, KIMEP, November 2004 – August 2008
  • Executive Assistant to the Vice President, External Affairs, KIMEP, February 2002 – November 2004

RESEARCH INTERESTS

Corporate Governance, Financial Risks: Hedging and Arbitrage

Phone: 270-42-06, 270-44-40 ext. 2016
Office: 104/adm
E-mail: uzhegova@kimep.kz

Phone: 270-42-06, 270-44-40 ext. 2016Office: 104/adm E-mail: uzhegova@kimep.kz


Akhliddin Ismailov (2)

Akhliddin Ismailov, MBA, Ph.D. Candidate

Senior Lecturer

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Doctoral Student at KIMEP

Education:
MBA, Ankara University, 1999-2002
Yasawi International Kazakh- Turkish University

Contact info:
Tel: 270-44-40 Ext: 2140
Office: 318 / Dostyk bld
Email: ismailov@kimep.kz