(Note- use reference list given in last)

Assessment overview

The module assessment is 100% coursework.  This consists of one essay of 2,500 words and one case study of 2,500 words.  They each count for 50% of the module.

 

Coursework Briefs

 

 

Assignment 1 – GROUP

 

Choose a company listed in the FTSE100, obtain their accounts and explain their long term funding.  Calculate their Weighted Average Cost of Capital (WACC) using the methods we have practiced in class, as well as any other method that you research and that you deem appropriate, and make clear any assumption that you have made.  Critically assess the funding sources, explain alternatives and discuss the pros and cons.  Explain the roles of risk, tax and gearing in the funding choice and make recommendations for its optimisation.  All working should be shown (in appendices where relevant) and all data must be referenced correctly. Harvard referencing should be used throughout.

 

General Requirements and supporting information

 

• Only information available in the public domain is to be used.  No private information about your company should be used and all information should be referenced and verifiable.

 

• Your answers must include a mixture of research data and subjective analysis related to the subject. It should also refer to materials/topics covered in the class and outside reading.

 

• If you have questions or comments about the assignments please ask these during the Friday morning sessions. This is so that responses given will then be available to all students.

 

The word limit of 2,500 does NOT include any bibliographies, appendices or references used in the report.

Form groups of 4 students, and select who is going to submit the coursework (ONLY 1 group member should submit). Furthermore, please submit the short self and peer evaluation report under Submissions.

 

 

Assessment Criteria

 

Full descriptions of the terms are shown further down in the module handbook.

 

Knowledge and Understanding

Intellectual skills

Scholarly practices

Enquiry and research skills

Professional and life skills

 

As guidance will be given to help you complete this coursework, attendance at teaching sessions is ABSOLUTELY VITAL.

 

This is the first summative assessment and will be an essay based upon the material covered in the first half of the module.  A full brief will be given and there will be opportunities in the seminars to discuss the topic and ask questions.

 

Assessment weighting:

50%

Deadline:

4 December 2020 at noon (12.00).

 

 

 Assignment 2 – INDIVIDUAL

 

In 2016, AB InBev, the world’s largest brewer, acquired their rival SABMiller in a deal worth over $100 billion.  It was reported that this created the first truly global brewer.

Explain what the deal was, why it took place, how it was funded and what the expected benefits to shareholders were. This should not be a simple description but you should refer to relevant theory and assess its relevance.  Include your own conclusion of whether the deal adds value and justify your appraisal.

Suitable areas to research would be the company accounts, analyst reports, news items and of course text books and academic sources.

In your report, please include a cover/title page, contents, Harvard referencing and appendices as required.  Time will be allocated in tutorials to deal with any questions.

 

General Requirements and supporting information

 

•        Only information available in the public domain is to be used.  No private information about your company should be used and all information should be referenced and verifiable.

 

• Your answers must include a mixture of research data and subjective analysis related to the subject. It should also refer to materials/topics covered in the class and outside reading.

 

• If you have questions or comments about the assignments please ask these during the Friday morning sessions. This is so that responses given will then be available to all students.

 

This is the second summative assessment and will be a report on a case study.  A full brief will be given on the launch date and there will be opportunities in the seminars to discuss the topic and ask questions.

 

Assessment weighting:

50%

Deadline:

04 January 2021 at noon (12.00).

 

The word limit of 2,500 including any bibliographies, appendices or references used in the case report.

 

The coursework is to be presented in report format – please use Harvard style referencing.

 

Assessment Criteria

 

Full details of the assessment criteria will be released with the assignment brief.  Normally it covers the following:

–       Knowledge and Understanding

–       Structure and Argument

–       Information Collection and Analysis

–       Critical Engagement

–       Academic Presentation

 

As guidance will be given to help you complete this coursework, attendance at teaching sessions is ABSOLUTELY VITAL.

 

Plagiarism Detection Software Policy

 

The University subscribes to a software package called “Turnitin”.   Please be aware that written work must be submitted online via Turnitin on MyModules as well as in hard copy.   Both hardcopy and e-copy must be submitted by the deadline or a zero grade will be awarded.

 

Assessment Feedback & Grades

 

Feedback will be provided together with the grade for the piece of work.  Written feedback will include the main points for improvement and highlight major errors.  Further feedback will be available if required, by appointment.

 

Coursework feedback is an essential part of the learning process and the students must use this aspect of the assessment process to develop their academic comprehension. Where necessary, students are advised to discuss their feedback with their tutor to ensure complete understanding of mechanisms that will assist in the development of their academic acumen.

 

Resource list

Core Text

The core text for this module is:

Brealey, R.A., Myers, S.C., and Allen, F (2017) Principles of Corporate Finance, 12^th Edition, McGraw-Hill.

The module relies heavily on this text and so it is very useful to have access to a copy.  It is a large book and e-book formats are available. A 13th edition is also available, though this will be more expensive.

 

Selected Bibliography

 

The only book you will need to buy is Brealey, Myers and Allen (which will be abbreviated to BMA), but for further reading on specific topics you may want to read the following:

 

Bekaert, G. and Hodrick (2013) International Financial Management, 2^nd Edition, Pearson Prentice Hall.

 

Elton, J.E., Gruber, M.J., Brown, S.J. and Goetzmann, N. (2014) Modern Portfolio Theory and Investment Analysis, 9^th Edition, Wiley Finance

 

Eiteman, D., Stonehill, A. and Moffett, M (2015) Multinational Business Finance, 14^th Edition, Pearson Prentice Hall

 

Franzoni, S and Allali, A (2018) Principles of Islamic Finance and Principles of Corporate Social Responsibility: What Convergence?, Sustainability,10(3) (available via the library)

 

Hull, J. (2011) Options, Futures and Other Derivatives, 8^th Edition, Pearson Prentice Hall

 

Koller, K.,Goedhart, M. and Wessels, D (2015) Valuation: Measuring and Managing the Value of Companies, 6^th Edition, McKinsey and Company Inc.

 

Moffett, M., Stonehill, A. and Eiteman, D (2015) Fundamentals of Multinational Finance, 5^th Edition, Pearson Prentice Hall

 

Nobes, C and Parker, R. (2016) Comparative International Accounting, 13^th Edition, Pearson Prentice Hall

 

Ross, S., Westerfield, R., Jaffe, J. and Bradford, J (2016) Corporate Finance, 11^th Edition, McGraw-Hill

 

Saunders, A. and Cornett, M (2015) Financial Markets and Institutions, 6^th Edition, McGraw-Hill

 

Sinclair‐Desgagné, B (2019) Principles versus principal: Reconciling norm compliance and shareholder value, Journal of Public Economics, 22(2), pp 449-467 (available via the library)