FIXED INCOME SECURITIES AND ESG BONDS

Gianfranco Di Vaio, Debarya Jana
GIANFRANCO DI VAIO
Gianfranco Di Vaio
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Debarya Jana
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Apri in My Luiss
Codice corso:
EM126
General discipline (SSD):
SECS-P/09
Anno:
2
Semestre:
Primo Semestre
Canale:
Unico
Crediti:
6
Lingua:
Inglese
Ore di insegnamento:
48
Anno accademico:
2026/2027
Descrizione
Programma esteso 
e materiale didattico di riferimento

Obiettivi formativi

The course aims at giving students a better understanding of sustainable finance

Prerequisiti

Basic finance concepts

Risultati di apprendimento attesi

By the end of the course, students will be able to: •Understand fixed income securities and their valuation •Apply pricing models and yield curve analysis •Analyze credit risk and interest rate risk •Understand ESG principles and how they are incorporated in bond markets •Evaluate green, social, and sustainable bonds in terms of structure, impact, and pricing

Contenuti Del Corso

The course focuses on topics in finance in particular fixed income securities, ESG Criteria, sustainable finance and portfolio management.

Testi Di Riferimento

To be communicated soon.

Metodologie Didattiche

Class presentations and seminars

Modalità di verifica dell'apprendimento

Midterm (written) - 1/3rd of the grade and final exam (written) - 2/3rd of the grade

Criteri per l’assegnazione dell’elaborato finale

Professors approval

Settimana 1

Introduction to fixed income securities: bonds, notes, bills and Time value of money, discounting, compounding

Settimana 2

•Bond pricing, yield measures (YTM, current yield) •Spot rates, forward rates, term structure of interest rates

Settimana 3

•Duration and convexity •Interest rate risk

Settimana 4

•Credit risk and bond ratings* •Default risk and recovery rates

Settimana 5

•ESG criteria: environmental, social, governance •Regulatory frameworks (EU Taxonomy, SFDR, ICMA Principles)

Settimana 6

•Greenwashing and impact metrics •Green bonds, social bonds, sustainability-linked bonds

Settimana 7

•Issuance process, third-party verification (e.g., Second Party Opinion) •Pricing differences between ESG and non-ESG bonds (e.g., Greenium)

Settimana 8

Midterms

Settimana 9

Case Study Presentations

Settimana 10

Performance measurement (risk reward ratios, high water mark, drawdown, backtesting*)

Settimana 11

ESG bond integration into portfolios

Settimana 12

Thematic and impact bond funds