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企业财务管理代写 Corporate Financial Management代写 Assignment代写

Individual Assignment

企业财务管理代写 Test learning outcomes: LO1 Demonstrate knowledge and critical understanding of corporate financial theory with consideration of the capital market imperfections within which firms operate.

Module Title Corporate Financial Management

Coursework Element 100%

Test learning outcomes:

LO1

Demonstrate knowledge and critical understanding of corporate financial theory with consideration of the capital market imperfections within which firms operate.

LO2

Demonstrate an understanding of how corporate finance theory may be used to guide practice.

LO3

Relate empirical evidence to corporate finance theory with an understanding of limitations of such evidence.2

LO4

Reveal an ability to obtain, evaluate relevant data and draw reasoned conclusions concerning corporate finance policies.

You are a junior manager in a financial advisory firm. The partner to whom you report has been taken ill, potentially with Covid-19, and has left six case files for your attention. The files have been screened and are virus free but you have limited time to review. To assist you in your endeavours your reporting partner has put a marks value by the side of the questions that they require answering to indicate their relative importance.

Case file1 企业财务管理代写

(a) Blackrock Inc. is considering two potentials investment projects. These projects are mutually exclusive and are equally risky. Both projects have the same cost of capital of 9.00%. The project cash flows are shown below. If the investment decision is made by choosing the project with the shorter payback period rather the one with the higher NPV, how much present value will be foregone?

(b) Given the risk-free rate is 3%, expected market return is 12%, and Stock A’s expected return is 15%. What is the Stock’s A beta? Does Stock A have higher or lower risk than those of the market portfolio? (5 marks)

Case file2 企业财务管理代写

Northsea Inc. is an all-equity firm and it has been paying out all of its earnings as dividend. Northsea’s cost of capital is 10%, and its last Earnings Per Share was $4.50.

(a) Assuming Northsea keeps paying all of its earnings as dividend. What is the value of Northsea Inc. stock based on the dividend discount model? (5 marks)

(b) Northsea has just announced that it will change its investment and dividend policy. It will continue to pay all its earnings as dividend next year but it will only distribute 70% of its earnings after next year. The retained earnings will be reinvested in projects with expected rate of return of 12%. What effect would this policy have on Northsea’s stock price? (8 marks)

Case file3 企业财务管理代写

You are a manager of a large cereal producer. You have been asked to raise a substantial amount of capital to build a new plant. What would influence the sources of finance that you would choose?  (12 marks)

Case file4

(a) Why do the shares of newly listed firms often increase on the first day of trading? (7 marks)

(b) A firm announces that it will increase its dividend. How would the stock price react to this news? (6 marks)

Case file5 企业财务管理代写

There is a survey of the corporate payout policy literature by Brav, Graham, Harvey, and Michaely (2005),

Alon Brav, John R. Graham, Campbell R. Harvey, Roni Michaely, Payout policy in the 21st century, Journal of Financial Economics, Volume 77, Issue 3, 2005, Pages 483-527,

https://doi.org/10.1016/j.jfineco.2004.07.004

Discuss the following four questions after referring to the textbook, article by Brav et al. (2005), and other relevant materials from the online library or internet. Please pay particular attention on relating empirical evidence to corporate finance theory. The maximum word count for the content is 1,000.

(a) Why dividend is relevant in the real world? (5 marks)

(b) Discuss the rationale of using non-dividend payout policy such as share repurchases. (5 marks)

(c) Do you prefer dividend paying or non-dividend paying stocks? Justify your answer. (5 marks)

(d) Given two companies with the same amounts of assets and debts, should the dividend paying company has a higher valuation? (5 marks)

Case file6 企业财务管理代写

You must choose one company listed on New York Stock Exchange, NASDAQ, London Stock Exchange, or the Exchange of the country where you come from and perform the tasks specified. You can choose any company except those from financial services (bank, insurance, etc.), REITS, and utilities (electricity, water, gas, etc.). Avoid money losing companies.

Most of the company’s data is available from Yahoo Finance, Google Finance, or company’s website. There are many other sources of information – NASDAQ, NYSE, LSE, SGX, Global Media, Bloomberg, Reuters, etc.

Use any font type of your selection with 1.5 line spacing and 12 point font size. Cite and include any reference used appropriately. The final report shall contain around 2,000 words (excluding words in tables, diagram, and appendices).

Besides a title, you firm valuation report must have 企业财务管理代写

1. Executive Summary

· One page summary of your report and your recommendation

2. Introduction

· Brief History of Company.

· Current and Future Key Issues that Impact the Industry both globally and locally.

3. Valuation

· Perform stock valuation for the selected company using valuation model that you have learnt from the course.

· Chapter 6 and 9 give you some ideas on the valuation process but you are not required to follow them closely.

· Use two or more valuation methods. Compare the stock prices from the two methods to the actual stock price.

4. Conclusion and Recommendation

· Make recommendation as a financial analyst to the investors.

(30 marks)

You have been told that it is hoped that the partner will make a full recovery and will review your answers to the question on file.

Assessment Submission (for student information)

eSubmission is the approved method for your programme of study. You must hand in your assessed Assignment(s), for all modules that you are taking during the 2020/21 Academic Year using the Canvas system. Submission of a printed copy is NOT allowed. You should submit via the Assignments menu item on the relevant module Canvas site.

Assignments must be submitted by the date and time stipulated. Deadlines will be strictly adhered to. Students submitting late, and who do not have mitigating circumstances approved by the Mitigating Circumstances Panel, will be subject to penalties for late submission specified by the University. Please note that Saturday and Sunday are treated as “working days” for the purposes of the late submission policy.

企业财务管理代写

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