ECON5066 Corporate Finance and Investment
Hello, dear friend, you can consult us at any time if you have any questions, add WeChat: daixieit
ECON5066
Corporate Finance and Investment
Question
During the 2008- ‘09 Global Financial crisis (GFC) and the European Sovereign crisis (ESC) banks interrupted lines of credits to non-financial corporations. Discuss how the shortage of credit supply in the above-mentioned periods affected corporate failures and firms’ investment decisions. Explain how the forbearance lending contribute to the low output growth experienced after the GFC and ESC by economies/firms.
Given that during these economic crises, company defaults rose sharply in number, many speculated that private equity-owned companies would struggle even more than other non-sponsored firms. Discuss how private equity-owned companies fared during these crises, linking the theoretical arguments to empirical evidence.
Further details
Students are expected to carefully read academic papers and policy related reports. Google scholar is an excellent tool to search for published and working papers. Once you identify the relevant papers on Google Scholar, you could check the citations to get access to more articles of interest.
As the literature on firm performance during the European and global financial crisis is extensive, you are expected to read a substantial number of papers but you should be able to use your critical ability to successfully link them together. You should extract all the information and evidence discussed on the papers that is related to the essay question without reiterating details that might not help the reader to get a clear understanding of the topic. Carefully read the question and design the structure of your essay. The essay question is centred around four distinctive pillars: corporate failures; firm investment; forbearance lending; private equity-owned firms’ performance. Students should equally split their analysis/discussion around those pillars.
Intended Learning Outcomes being assessed
Add relevant ILO(s)from course specification (delete irrelevant ones)
1. Show understanding of both theory and model-based analytical methods
2. Show clear understanding of applied corporate finance topics
3. Show understanding of the capital structure theory under imperfect capital markets
4. Reason logically and work analytically
5. Communicate effectively and clearly in written formats
Assessment criteria
Students are required to demonstrate their reasoning and thinking skills.
They should be able to show understanding of the topic.
Their answer should be well organized and structured. Students should present an introduction, main body and conclusion.
Information and evidence are accurate and appropriate.
The purpose and focus are clear and consistent.
Feedback method
Individual feedback will normally be provided via Moodle. Generic (class-level) feedback and grade profiles will normally be posted on Moodle.
Students can use academic staff office hours for additional feedback on your work.
Preparing your coursework
Document creation
1. Please use this file naming convention: StudentID_CourseCode_QuestionNo. e.g. 7299019_ECON5066_1. If there is no question choice, use 1 as the default.
2. The file type must be .doc, .doxc, .xls, .xlsx or .pdf.
3. Include your student ID in your document, ideally in the header on each page with the course code and title, e.g. 2489545_ECON5066_Finance1.
4. The maximum file size limit on Moodle is 230MB
Formatting
You won’t be penalised if you don’t follow this good practice on formatting, but it will help your markers.
• Use a Sans Serif font in black, e.g. Arial, Avant Garde, Calibri, Helvetica and Geneva.
• Use font size 12.
• Use 1.5 or double line spacing.
• Align your text to the left margin.
• Add page numbers.
Referencing and bibliography
You should reference your sources appropriately and list these in a bibliography. The bibliography is excluded from your word limit. You should use the ‘Harvard’ referencing system, as detailed below for written coursework.
In the text, use the following referencing conventions:
• Smith (1999) argues that…. or
• It has been argued that……. (Smith, 1999).
• If you use a direct quote, use quotation marks and cite the page number as well as the author and date, i.e. (Smith, 1999, p. 4).
• If you have two items by the same author in the same year, refer to one as ‘a’ and the other as ‘b’, i.e. Smith (1999a) and Smith (1999b).
For more information, please refer to theUniversity Library webpage.
Student conduct
Plagiarism
You must adhere to the University’s rules regarding plagiarism which are based on the premise that ‘all work submitted by students for assessment is accepted on the understanding that it is the student's own effort’. More specifically, you must avoid plagiarism in the following forms:
• Copying from sources without ‘formal and proper acknowledgement’
• Inappropriate collaboration – working with other students to produce individual coursework or copying work produced by another student
• Submitting work which you have obtained from another source, e.g. an essay mill
• Self-plagiarism – basing coursework on work that has already been submitted for assessment purposes.
For advice and more information, please consult:
• University Plagiarism Statement
Turnitin
Note that your coursework will be processed through Turnitin for similarity checking. You can submit a draft of your coursework to Turnitin before submitting your final copy. You will find information about using Turnitin in the Student Information Point Moodle.
Submitting your coursework
You must submit in accordance with the stated time and date on page 1. See below for information if you are unable to do so.
Finalising your document
Please follow the steps listed below:
1. Complete the cover sheet, including the word count and the question answered.
2. Check your spelling and grammar using the inbuilt tool on your device. You will not be penalised for grammatical and spelling errors but we recommend that you take the opportunity to correct them.
3. Check your file name (see above).
4. Check that you have used an accepted file type (see above).
5. Do not include your name in the file name or the document to support anonymous marking.
Uploading your document to Moodle
1. You will upload your document to the designated section of the Moodle course, which will be clearly signposted.
2. Try to upload your document at least 30 minutes before the deadline (page 1) in case you encounter any technical issues. You will be able to resubmit the document as often as you like until the submission deadline.
3. Complete the Declaration of Originality (see below).
Declaration of Originality
When you upload your coursework on Moodle, you will be required to select a checkbox to confirm that you agree with the University’s Declaration of Originality which applies to all academic work, as follows.
I confirm that this assignment is my own work and I have:
• Read and understood the guidance on plagiarism provided on the Student Information Point Moodle course including the University of Glasgow Statement on Plagiarism.
• Clearly referenced, in both the text and the bibliography or references, all sources used in the work.
• Fully referenced (including page numbers) and used inverted commas for all text quoted from books, journals, web etc.
• Provided the sources for all tables, figures, data etc. that are not my own work.
• Not made use of the work of any other student(s) past or present without acknowledgement. This includes any of my own work, that has previously, or concurrently, been submitted for assessment, either at this or any other institution, including school.
• Not sought or used the services of any professional agencies to produce this work.
• In addition, I understand that any false claim in respect of this work will result in disciplinary action in accordance with University regulations.
Extensions and non-submission with good cause
Please refer to the Student Information Point Moodle for relevant information.
Late submission penalties
In the absence of good cause, late submission penalties will be applied as explained in Student
Information Point Moodle.
Questions
If you have any questions about this coursework briefing, please read it carefully again to ensure you fully understand it. If you still have questions, please post these on the Moodle Discussion Forum.
Personal questions only can be sent to:[email protected]
2022-03-09