Corporate Finance and Crowd Funding Essay
Assignment ID Number AFFGEHU83939HD Type of Document Essay Writing Format APA/MLA/Harvard Academic Level Masters/University References/Sources 4 References
Corporate Finance and Crowd Funding Essay
Topic: Corporate Finance & Crowd Funding
REVISION: The main issue to address are the following:
- Include a List of Tables on a separate page.
- The summary should summarize what was done, how it was done, the main findings and key recommendations in bullet points, but NOT what WILL be done.
- Please find attached an assignment sample (13494302), and make sure you do the same quality work. You may use the same headings as there.
- be more specific and focus on the chosen company only avoiding general statements.
- Use British spelling and formal third‐person language. 6. The soft copy “(full text) Corporate Finance and Firm Value in…” is not used in the paper, why do you keep on sending it? Provide soft copies for Eka, H. and FMP n.d. sources.
- Write only 2000 words, excluding the summary.
- Thoroughly proofread for spelling mistakes, errors in grammar and content. Eliminate repetitions. Write clearly, ensure sentences are grammatically correct. Thank you. . Please confirm that you are working on it as soon as possible. The assignment is designed to test your understanding of corporate finance concepts and principles. It explores various knowledge areas within the module by applying your learning to the financial evaluation of the prospects for a company listed on a major stock exchange.
Because the future is uncertain, there is no perfect answer. So, you need to make your assessment of the company’s prospects as reliable and credible as possible by clearly stating and justifying your assumptions and grounding your analysis on accepted corporate finance theories and concepts. Always remember that this is not a strategy or marketing assignment, so focus mainly but not exclusively on the finance. Assignment Task Based on the systematic comparative appraisal of the selected firm’s historical performance: 1. Discuss how successful the selected firm has been at delivering value to its shareholders.
Analyse the historical total shareholder return (TSR) and economic value added (EVA) for the selected firm and its principal competitors (or appropriate benchmarks). Although a full ratio analysis for the company is not required and will not be assessed, you may find a ratio analysis supplemented by analysts’ and journalists’ reports on the company helpful in analyzing its past performance and as a guide to future performance. 2. Evaluate the current shareholder value of the selected firm. Apply discounted flow techniques (DCF) to the selected firm’s projected free cash flow (FCF) performance to determine its current shareholder value.
This is derived from the selected firm’s projected financial statements (Profit & Loss account, Balance Sheet, and Cash Flow statement). Your projections, including the firm’s terminal value, must be based on realistic and plausible assumptions that can be fully justified. The projection horizon should be a minimum of 5 years. The current shareholder value is obtained by discounting the future FCFs at the weighted average cost of capital (WACC), which should be estimated from the raw data. A full sensitivity analysis on the more significant assumptions should be conducted.
Additional information from various sources such as company annual reports of the selected firm and its competitors, analysts’ reports, news stories, industry trade publications, government and quasi-government reports on the industry should be accessed to guide your analysis and evaluation. Alternative methods for estimating the current shareholder value based on key financial ratios (P/E, P/B, and EV/EBITDA) and Net Asset Value should also be considered.
Significant differences between the estimates of shareholder value obtained from the above methods should be reconciled with the market shareholder value. A clear recommendation on the “correct” shareholder value for the selected firm with a clear justification should be made. Firm Selection Select a company listed on an internationally recognized and well-established Stock Exchange (such as London, New York, Tokyo, Mumbai).
It is important that historical share and stock index price data and financial statements for the selected firm and its competitors is available for a minimum of 5 years. It is preferable to select a firm operating in a single industry but not the financial industry since their accounts are more complicated and are regulated through central bank oversight. In your submission, you must also submit the supporting Excel (.xlsx) file showing your evaluations so please share the detailed calculation in XLS format for all ratios and sensitive analysis
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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