FINC 304 CORPORATE FINANCIAL STRATEGY Semester 2, 2022
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FINC 304 CORPORATE FINANCIAL STRATEGY
Semester 2, 2022
Group Written Report
1. General instructions
This Group Written Report carries a maximum of 25% of the course final grade. The report is divided into a group mark (i.e. 15% of the course final grade) and an individual mark (10% of the course final grade). Students are to form groups comprising of a minimum of four students and a maximum of five students for each of the groups.
Each student will be responsible for specific sections of the comprehensive report and the associated write-up, while the group will collectively be responsible for integrating the different sections to write the final report. Continuous communication between team members would therefore be essential to submit a professionally compiled final report that is well structured and in which the ‘common thread’ is clear.
Please submit your Group Written Report to the Written Report Dropbox on the course Learn page. Late submission will be penalized following the Late Submission of Assessment regulations in the course outline.
2. Assignment requirements
Your group assignment for the Written Report is to produce a comprehensive company analysis report that emulates the previous winners of the CFA Research Challenge. The company chosen for the Group Written Report (and Group Presentation) is Fisher & Paykel Healthcare.
Following the Official Rules of the CFA Institute Research Challenge, there are seven sections in the report:
|
Business Description Industry Overview & Competitive Positioning Investment Summary Valuation Financial Analysis Investment Risks Environmental, Social, Governance Total |
10
20
15
|
Your group members must discuss, decide, and agree on section and workload distribution among the members. There must be a clear indication as to who is responsible for which section/s of thereport.
DO NOT contact the target company (Fisher & Paykel Healthcare). Groups who fail to adhere to this will get a grade of zero!.
You should insert a cover page. List the full names (Surname, First Names) and Student ID numbers of all team members on the cover page. Reports should be NOT EXCEED TWENTY (20) single sided A4 pages, including a cover page, a reference list, and appendices if any. If you cite any materials in your report, you should prepare a reference list using APA 7th edition referencing style.
Your assignment must be word-processed, neatly presented with correct spellings, grammar, and punctuation. Students should use size 12 (Times New Roman, Calibri or Verdana fonts) with 1.5 spacing.
Suggested steps
i. Read through Chapters 06 to 09 of the textbook: Jerald E. Pinto, Equity Asset Valuation, 4th Edition.
i. Your group needs to perform three (3) asset valuation techniques:
1. The Discounted Dividend Valuation technique
2. The Free Cash Flow Valuation technique
3. The Market-based Valuation: Multiples technique
ii. Look at written reports of past winners of the CFA Research Challenge that you can access from the section ‘Past Winners – CFA Research Challenge’ on the course LEARN page.
iii. Written Report must comprise all seven (7) sections as described in Part 2. Clearly indicates who is responsible for which section/s of the report. It is not necessary for a particular section to be assigned to a member only. For example, two members can be working on the valuation section, and another two members can be working on the financial analysis section.
iv. Extract relevant financial and non-financial information about Fisher & Paykel Healthcare from Bloomberg and Yahoo Finance.
v. Be resourceful in finding relevant information on Fisher & Paykel Healthcare. You may even find comprehensive company analysis reports on Fisher & Paykel Healthcare from stockbrokers, fund managers, and/or other financial institutions.
3. List of potential sources of information
Annual reports in PDF format of most public listed companies on the New Zealand Stock Exchange may be downloaded from nzx.com and/or the public listed company’s website. Daily trading information and daily announcement made by public listed companies are published on nzx.com. Relevant listing rules and guidelines may be found on the website of the Securities Commission of New Zealand at seccom.govt.nz. Students are advised to be resourceful and creative in gathering relevant information about the company chosen. For example, students may get information from Bloomberg, Yahoo Finance, Reuters, stockbrokers, business magazines, daily newspapers, and academic journals.
4. Group Project Peer Evaluation Form
Each group member is required to submit a Group Project Peer Evaluation Form when the group turns in the written report. You must not discuss or disclose your comments to your group members.
2022-09-24