Assignment help for M. Sc. Finance

CFA Research Report Rubric

Business Description:  Max points 5

Did team address the major components of the company’s business strategy?  Was each operating segment covered? What does the business do? What is the growth of the business? Who their customers (end users) and what is their condition? Make sure you cover each business unit.  Make sure you cover each region of business. Maybe: the major shareholders here.

This section of the report sets the baseline for the rest of the report. Make sure we study each business section and each geographical market in detail. Try to determine where and (if) growth is coming from.

We will use a levered beta for each business segment and ERP for each business region. We will determine weights. 

Industry Overview and Competitive Positioning:  Max points 15

What are the macro trends impacting the business? Discuss how the company is positioned globally and discuss the global environment for growth? What are the factors affecting the industry and how do they impact the target company? What is the overall market growth rate? Who are the company’s main competitors? How is this company different than their competitors? What is the power of suppliers? What is the power of the end-users? Does the company have any competitive advantage? Must show peer analysis. What are the industry drivers and industry structure? A very detailed discussion of the companies competitive positioning should be placed here (not in the investment summary). A strong discussion of industry factors and trends is needed here. Where does company fit? How fragmented is the industry? Locate both public and private competitors.  What is the source of the company’s or industry’s value?  What factors drive the industry? Really, understand how the business runs.

How does this company differential itself?  How does that add value? Talk about the company’s peers. Where does company fit?  Porter 5 forces and SWOT.

Investment Summary: Max points 20

This section must tie in to all others and must really support the buy or sell opinion.  Why did we use what we used?  Why does company trade at a discount or premium to the market multiples?  It the market wrong.  Will their historical multiple change? Why? We really need to have a “why” for each item.  Never use a DCF and market multiple exit together.  One or the other.  This section, and the next two, has the highest maximum points on the rubric. Great detail is needed on these three sections. The team must address and justify its buy (outperform or overweight), hold (neutral), or sell (underperform or underweight). Somewhere in this paper I would like to define our view of what a buy, sell, or hold means. Detail! Did we address and forecast changes in gross profit margin, operating profit margin, interest expense, tax rate, dividend policy, share buyback policy, capital expenditures, research and development spending, management changes, and mergers and acquisition possibilities? Is this a good company? Is this a good stock? Differentiate between these two positions. This could be a good spot to mention risks. Don’t just list the risks; try to quantify the probability and the impact of occurrence. Use and incorporate managements language from their earnings calls. What is management’s guidance for revenue and EPS; does our estimate deviate from management? Why?  Fewer inputs are better, no black box.  What are the key drivers?

Valuation: Max points 20

According to Aswath Damodaran the big three in valuation is 1) capacity to generate cash flows 2) expected growth rate of these cash flows and 3) uncertainty of these cash flows. Must model long-term organic growth given recent business trends. What are the weights of each valuation method; how did the team determine the weights. Must have a relative value valuation, a discounted cash flow valuation, and a PE multiple valuations. If applicable, team could use a sum of the parts valuation or an under value asset valuation. Must have multiple pricing models to improve the target price and valuation. Must show intrinsic value in our one-year price target to justify our buy, sell, hold. Show multiple methodologies! Discuss WACC. What is the consensus estimates? How does our estimate relate?  Do we value company with a higher P/E multiply than the street? Why? When using a DCF model do not have a terminal growth rate greater than the risk free rate. Some companies may grow at a faster rate long run than the risk-free rate but it is infrequent. Lower the risk rate during the terminal growth period.  Betas tend to run towards 1 in the long run. Also think about changing the debt weightings during the terminal period to a more traditional waiting. When working with beta we can use historical information, but it might be better to use some other forward-looking beta estimate. We could use a sector average or we could look at each business segment and assign a beta to each segment and use a weighted average. What are the company’s historical PE multiples. Compare the historical PEs to the S&P and to the sector. Doesn’t typically price at a PE multiple premium or discount? Where does it stand now? Describe how you determine the weights when using several valuation methods. For relative valuation I would like to see current PE, forward PE, price-to-book, enterprise value to EBITDA, and enterprise value to sales compared to the target companies competitors and peers. We should consider using the median value instead of the average or show both. We should consider throwing out outliers, but discussing our rationale. Intuitively, firms with higher growth rates, less risk, and greater cash flow potential should trade at higher multiples. Does our company justify a higher or lower multiple than the averages? In the simplest discounted cash flow model for equity which is stable growth dividend discount model, the value of equity is: Po = D1/k – g . Dividing both sides by net income (E) we obtain the discounted cash flow equation specifying the PE ratio for the stable growth firm. The key determinants of the P/E ratio are the expected growth rate in earnings per share, the cost of equity, and the payout ratio. All things remaining equal, we would expect higher growth, lower risk, and higher payout ratio firms to trade at higher multiples of earnings and firms without these characteristics. 

For relative valuation can we look at the companies PEG ratio versus its peers or sector? The key to relative valuation is finding comparable firms and adjusting for differences between the firms on growth, risk, and cash flows.

I would love to come up with a regression analysis with a macro-variable.  Multivariate regression model (etc. P/E should be x based on ROE, P/B,) for relative valuation. 

Smoothed or normalized earnings to account for cyclicality.

Are there unutilized or underutilized assets?  Add values because they do not show up in DCF.  Underfunded pension liability? Option values? If our intrinsic valuation is significantly off the market price, we really need to have a justification.  Monty-Carlo simulation on macro factors.  Always site references.  Dividends, share repurchase, acquisitions, cap-ex, R&D, debt pay down, what are they doing with cash? How does that effect price and value?  Is this good or bad?

Calculate ROC EBIT (1-t)/ BV of debt + BV of equity – cash.  What is ROC – WACC?  Is it positive?  That is the company’s competitive advantage.  Where do these excess returns come from?  Adjust ROC and BV for research and development costs; capitalize R&D.  Did the company have write-offs?  Write-offs will improve ROC; it will be overstated.  Take write-offs out. Goodwill may understate ROC; try to adjust.  Make sure leases are in book value of debt.

Was the last year’s EBIT a one-time event? Can we normalize EBIT?

Does the company take on good projects? This is the key to success with their future reinvestments. In 1/3 of all companies, ROC is less than WACC.  1/3 ROC = WACC and 1/3 ROC > WACC.  Do not be overwhelmed if ROC = < WACC. Remember, ROC is an accounting number. Is the accounting is misleading?

DCF.  Capital expenditures, acquisitions adjusted research and development and changes in working capital are cash outflows. Depreciation and amortization are cash inflows.

Capex depreciation analogy, calories consumed vs. calories burned off.

Cost of debt.  Try to create a synthetic rating using interest coverage ratio and NYU page.  Then apply appropriate spread.  Always use market values for equity and debt.

Financial Analysis: Max points 20

Be consistent. What do financial ratios mean for the business? How do they compare to the competitors? (Without comparing to competitors ratios are meaningless) Compare ratios to companies past; is there a trend? Looking for what the future holds. Ratio analysis must be compared to peers and the company’s trend. What is the financial model and scenario analysis? Monte Carlo simulation? Make sure to model of future financing needs.  Really, need to put it all together here. Peers? Did were spend enough time segments?

Investment Risks: Max points 15

The team should highlight all risks including risks other than economic, such as political, operational, and execution. Interest rate risk, leverage risk, integration risk, and risk of management change are crucial to this section. Also, cover inflation risk such as the company’s input costs and if the company would be able to cover this cost by raising prices.  Explain each risk the industry faces and how it effects company.  How serious is this risk (high, med, low).  Try to get something in each section of the rubric that is not in the standard 10-k filing.

Credit, liquidity, strategic, operational risks.

A failure to integrate acquisitions successfully. Pricing pressure from large customers. Rising interest rates. Macro – headwinds. Unfavorable regulatory policies. Unfunded pension liabilities – pension fund spending.

Corporate Governance: Max points 5

Describe and highlight the board structure in executive compensation. Try to do an analysis on how “good” the company’s corporate governance actually is. Discuss structure, independence and compensation of the board. Try to include an external metric on risk.  Are they better or worse than peers are?  Does this help or hurt valuation? ESG.  Any major changes here? How does change impact valuation?

Oral presentation

Try to have all members provide some answers. Be very prepared to talk about the company’s competitors. Stay on time!  Example: we mentioned that MTB had a good corporate governance policy.  They asked, “Is it better than their peer group?” They then asked, “How does that add valve to stock?”

Questions

What company acquisitions were good and bad? Were they accretive or dilutive? Were estimated synergies accomplished?

What is the company’s dividend policy? Do you see this changing going forward?  How about buy backs?

What are the company’s competitors how is their performance?

How does the currency exchange rate impact the company? How would a change in the exchange rate impact the company? Is currency exchange listed in the risk section?

Is management confident?

Does the company allocate capital correctly?

What is the company’s competitive advantage?

How much money does the company have in other countries?

Assignment Help for Business Plan

Part I: Written Business Plan should be no more than 10 pages in length, excluding appendices.

The plan should carefully follow the outlines provided in the sample.

Part I of your business plan should include the following:

  1. Title Page
  2. Table of Contents (include in Part II)
  3. Executive Summary (include in Part II)
  4. Vision and mission statement
  5. Keys to Success
  6. Company Overview/ Summary
  7. Company Ownership
  8. Company Locations and Facilities
  9. Products and/or Services
  10. Competitive Comparison
  11. Future Product and/or Service Opportunities
  12. Market Analysis Summary
  13. Market Segmentation
  14. Market Needs
  15. Website Marketing Strategy
  16. SWOT Analysis

 The Written Business Plan should be carefully written, clear and logical in its presentation.

A sample of a Business Plan is located in the next document.

Criteria:Possible ScoreTitle Page – 5 pointsTable of Contents – 5 pointsCompany Description, Vision, Mission, and Keys to Success (Objectives) – 25 points
Organization – 25 pointsDescription of Products and Services – 30 pointsDefinition of the Market – 30 pointsMarketing Strategy – 30 points


Part II, written business plan, should be no more than 5-7 pages in length, excluding appendices.

The plan should follow carefully the outlines provided in the sample. Part II of your business plan should include the following:

  1. Sales Forecast (table format)
  2. Organizational Structure
  3. Competitive Edge
  4. Marketing Strategy
  5. Breakeven Analysis
  6. Projected Profit and Loss (table format)
  7. Projected Cash Flow (Cash Flow Forecast table format)
  8. Projected Balance Sheet (table format)       

The business plan should be carefully written, clear and logical in its presentation.

A sample of a Business Plan Part II is located in the next document.

You will also find a copy of the grading sheet for the Business Plan Part II.

Criteria
Possible ScoreExecutive Summary – 20 pointsOrganization & Management – 30 pointsSales Strategy – 40 pointsFinancial Management – New Business – 60 points

Advanced Studies in Econometrics

ECON 8820: Advanced Studies in Econometrics

You may work in groups on the assignment, but you must write up your own answers in your own words.
See the course profile for information on the due date of this assignment and penalties for late submission.

  1. Suppose that U is uniformly distributed on [0, 1] and X is continuously distributed as some distribution
    FX(·). Show that Y := F
    −1
    X (U) is also distributed as FX(·). (Or, X ∼ Y , i.e., X and Y are

distributionally equivalent.)
(Answer) You may start from the definition of the CDF. Here is an alternative method that uses the
change of variables. Let g(U) := F
−1
X (U). Then, g
−1
(Y ) = FX(Y ) and ∂g−1
(y)
∂y = fX(y). So,

fY (y) = 1(FX(y) ∈ [0, 1]) · fX(y)

on y ∈ Y, which is the support of X

  1. The dataset D in the matlab data file dataHW2.mat contains information on T = 50 markets, each with
    J = 5 differentiated products. The first column indicates each market t = 1, . . . , T, the second column
    indicates each product j = 1, . . . , J. The third column shows market share Sjt for all (j, t). The fourth
    to seventh columns are observed characteristics xj = [1, xj1, xj2, xj3], which vary across products but
    not across markets. The eighth is the price pjt. The other columns, say zjt, collect all the variables,
    including xj , that are correlated with the price but not correlated with unobserved characteristics ξjt.
    1

Consumer i’s utility of purchasing product j in market t is represented as

uijt = x
0
jβit + αitpjt + ξjt + εijt

and we assume that consumer i chooses one (and only one) product (including the outside option that
gives utility ui0t = εi0t) that gives the largest utility in market t. Assume that {εijt} are i.i.d with the
type I extreme value distribution so that the probability of consumer i of choosing j is

Pijt =

exp(x
0
jβit + αitpjt + ξjt)
1 + PJ
̃j=1 exp(x
0
̃j
βit + αitp ̃jt + ξ ̃jt)

where pjt and ξjt are potentially correlated, but the dataset does not have ξjt. Assume that

βit
αit
iid∼ N (μ, Σ)

across all i and t where μ is a 5 dimensional vector and Σ is a 5 ×5 symmetric positive definite matrix.
Using the BLP method, estimate the structural parameter θ := {μ, Σ}.
For this exercise:
• Report optimal GMM estimates for every element in μ and Σ.
• You do not need to report standard errors, but discuss in detail how you would compute them.
• Use a tight tolerance, e.g., 1e-13, for the inner loop (fixed point), and use a sufficiently large
number of iterations for the outer loop (evaluation of the GMM objective function)
• Employ 1,000 draws for the simulation of the random coefficients (β
0

it, αit), using the same ran-
domness for every iteration of the outer loop.

• Comment your codes in detail.
• Submit your codes.

Brookings Institute

Assignment 4 – Brookings Institute

You are an analyst at the Brookings Institution, a non-profit, non-partisan think tank that conducts public policy research and provides policy recommendations to governments. The Institution has several divisions, each focusing on different areas of economic and social policy, and each division produces a series of policy briefs (one per quarter) https://wagner.nyu.edu/files/faculty/publications/lightRumsfeldsRevolution.pdf. You are part of the division that focuses on (choose from list topic areas, below) and your boss has asked each member of your team to suggest one topic for next quarter’s policy brief. You will have two minutes to present your idea at a staff meeting [note that for most people, it would take about two minutes to read aloud 400 words]. Your assignment is only to suggest a general topic, not to write the full brief. That is, the primary objective of your presentation is to give the rest of the staff an idea of why this topic warrants further research for the full brief. It is typical to have at least one chart, diagram or graph on the front page of each policy brief so to help explain your topic, you should collect the relevant data and create a graphic that can be presented at the meeting.

Additional instructions: Go to the website for the Statistical Abstract of the United States to find your data (http://www.census.gov/library/publications/2011/compendia/statab/131ed.html). Use the raw data to prepare a graph or chart (not a table). Your chart should be labeled and titled appropriately; that is, identify variables, units of measurement or time, etc. The chart should be integrated into your presentation (i.e., incorporate discussion of the data with reference to the chart, don’t just tack on the chart at the end); however, graphics should always be able to stand alone as well so be sure that you have a title that is sufficiently descriptive. Although this is an oral presentation, you will need to submit the written text of your presentation (along with the graphic). The text should address the Who-What-Where-When-Why-How issues.

If the Statistical Abstract does not provide data appropriate for your topic, you may need to choose a different topic. You must submit your basic topic for approval prior to writing the brief.

Topic areas:

Education

Environment

Health

Income and poverty

Foreign commerce

Labor force

Law and security

Population/Demography

Social insurance and health services

Evaluation criteria

I will focus on the following specific areas when grading:

  1. Argument. Have you clearly and objectively made a good case for further investigation of this topic?
  2. Graphic. Is the graphic clear, appropriate and self-sufficient? Is it well-integrated with the text?
  3. Voice. Is the tone and style appropriate for this audience? Is jargon appropriate and explained as necessary?
  4. Overall clarity. Are ideas clearly expressed? Any problems with basic writing (spelling, grammar, punctuation) should be fixed before grading (more than two or three typos and your paper will be returned without a grade). I will be evaluating the readability, clarity, and style of the paper overall.

Writing for Money

Assignment 5 – Writing for Money

You would like to earn an additional amount of income for yourself to supplement income from your primary job. You have decided to become an economic journalist. Having read about how to gather data and having read some of the best business writing out there, you are going to try to craft a publishable article. You will need to brainstorm a topic, do research, and write an engaging and enjoyable piece of business/economic journalism.  Refer to your previous writings as guides to excellence. Also, feel free to see what is out there that inspires you.  Your word requirement for this assignment is between 1000 and 3000 words. Your assignment will be evaluated on how engaging your topic and writing are.  Strong command of grammar and the English language are expected.  This assignment will count as your final writing assignment. 

Programming for Data Analysis and Visualization

Programming for Data Analysis and Visualization

CA 2

Submit one single R file for the solution of the following questions as: Firstname.Surename.R
Q1.
The dataset “Power Plant” records variables which the company’s engineers believe are
important factors in the operation of the plant. The company is interested in maximising net
hourly electrical energy output (recorded as PE in the dataset). For each hour of energy
output recorded, other variable “Temperature” (AT) in the range 1.81°C and 37.11°C is
recorded.
Steps:

  1. Run a linear regression model for PE over AT. Record the value for the slope
    and take it as the actual population parameter .
  2. For 1000 iterations:
    a. Take 50 random samples from the dataset. Run the regression model and
    using the expression for CI for , that we found in the lecture, find a 95%
    CI for .
    b. Find what percentage of the CIs generated in step 2 would contain the
    that you got in step 1.

Q2.
If and are independent random samples from the Uniform distribution U(0,1), by
generating random samples find | −
| <

.

Q3.
If
are independent random samples from the Beta distribution (1, 1 + ), by
generating random samples for 3 different values for find

∑ ln (1 −
)

∑ ln (1 −
)

and show that the result is independent from .
b. Using the distribution in Q2, show that the result is even independent from the
distribution of
.

Advanced Studies in Econometrics

You may work in groups on the assignment, but you must write up your own answers in your own words.
Submit your outcomes in one PDF and also submit your codes so that I can implement them on my laptop.
This assignment is due on 20 May. See the course profile for information on penalties for late submission.

  1. The Bernstein polynomial density (BPD) is given as;
    f(x|θ) := X
    k
    j=1
    θjbeta(x|j, k − j + 1) (1)

where beta(x|a, b) ∝ x
a−1
(1 − x)
b−11(x ∈ [0, 1]) denotes the PDF of Be(a, b) with a > 0 and b > and

θ ∈ ∆k−1, the k − 1 dimensional unit simplex, i.e., θ ∈ Rk

  • and Pk
    j=1 θj = 1. By construction, we
    see that the specification (1) is a weighted average of the beta densities, {beta(x|j, k − j + 1)}
    k
    j=1. In
    order to understand that (1) is a histogram smoothing, make a diagram of {beta(x|j, k − j + 1)}
    k
    j=1
    on the unit support in a similar fashion of Figure 8 in Kim (2015, QE) for each k ∈ {5, 7, 10}.
    1
  1. Replicate the figure on page 31 of the lecture slides on “Bayesian Methods – Computation.” In partic-
    ular,

• Refer to the first two bullet points on page 29 regarding the true data generating process. Use
the CDF inversion method (pages 21 and 22) to simulate the data from the truncated normal
distribution.
• In addition, see page 30 for computational details, e.g., tuning parameters and number of iterations
for the Metropolis Hastings algorithm.
• You need to evaluate the density function (1) with different θ at each data point to implement the
Metropolis-Hastings algorithm. Observe however that you need to evaluate the beta components
only once, which may reduce computation time.
• Make a 2 by 2 figure just like the one in the lecture slides with a relevant title for each diagram
and labels for the vertical and horizontal axes, when they are informative.
• For the 95% credible band on panel (d), use the 2.5 and 97.5 percentiles at each point in the unit
interval. You may use 100 equidistant grid points for this exercise. Make sure you use different
line stiles for each different objects in the diagram so that they are visually distinguished.

  1. Similarly, replicate the figure on page 8 of the lecture slides on “Bayesian Methods – Computation 2.”
    • If your code for Problem 2 works well, you only need to modify your code slightly; see page 7 of
    the lecture note.

Python data mining

Your project proposal must be typed and should be approximately one page long. The purpose of the proposal is to help you sort and summarize your project ideas, and select your most interested data mining topic for project. We will review your project proposal and make sure you are on the right track. After submitting the project proposal, you will need to discuss with me to confirm and finalize your project topic and directions at Office Hours. We will give you project feedback comments so you can complete a high-quality data mining project.In your proposal you should cover the following items:• Tentative title of the project.• Abstract for your project topic. It should be one paragraph long, and should provide a high level summary of your project and outline your main goals. What is the major data mining problem and why it is meaningful to perform data mining on this data or topic?  • Brief description of project plan.1. What data sets do you plan to use? Describe the data briefly and provide the information of the data sources. We do not require significant effort on data collection and processing in this project. You can use data sets from UCI, Kaggle, or other public datasets on your interested topics, such as healthcare, energy, manufacturing, etc.  2. If you need do significant work to process raw data and convert it into the proper format for data mining. You can describe the expected data processing step.3. What programming languages do you plan to use (Matlab/Python/R)? What other machine learning tools do you also plan to use (e.g., WEKA, Tableau, SAS, etc. This is optional.)   4. How do you formulate the data mining problem? E.g., is it a classification task for discrete class labels, or a regression/prediction task for continuous response variables? You can also do both classification and regression on one dataset. For example, you can discretize continuous response variable into multiple categories (such as low, medium, high), then we can convert the problem into a classification problem, and implement classification models. 5. Note describe what exactly are you trying to predict or classify. It is critical that your problem is well-defined. 6. What data mining methods tentatively to be implemented for the project? (e.g., decision trees, KNN, Bayesian decision rules, LDA, neural networks, SVM, Neural Networks etc.) We would like you to practice different classification/prediction models on your project, and compare the performance of different models. This is just a draft plan, and you can add more models later when you make more progress on your project.  7. Indicate what types of projects you are going to do. Research project or application-based project. 
Types of ProjectsThere are two main types of projects. Research Project: you can decide to do a research project, where you look at a research issue. This could be original research, but could also be something straightforward—such as an empirical evaluation of data mining methods or strategies for improving performance (e.g., a study about strategies for removing missing values, evaluate different feature selection algorithms using simulated and real-world datasets, explore recent machine learning and deep learning methods on some research data). If you would like to do research project, we could provide some research dataset for you to explore. And also provide some new data mining ideas to explore. This option mainly applies to PhD students and senior MS students with good programming skills.Application Based Project: this is the most common project format and many of you will select application-based project to explore some real-world data sets using learned data mining models and methods. You can select something interesting for data mining, practice essential data mining steps, including data preprocessing, data visualization, variable selection (optional), classification/prediction modeling, model parameter tuning, and model performance evaluation. You should make sure that your analysis is not trivial, and explore some meaning data mining tasks. For example, running a data set through WEKA and spending an hour on the analysis and then doing a quick write-up would be considered trivial. You should study the dataset, determine the issues, address any preprocessing issues, try multiple modeling techniques, and perhaps take some creative steps to try to improve the classification or predictive performance.
Project ReportEach team will complete a data mining report at the end of the semester. It is very important for everyone to learn scientific writing for technical report. This is an important skill for your future work. The project report need be well organized and clearly written. The following report sections can be taken as a reasonable template for your project report writing.• Abstract: summarizes the project and the goals of the data mining work (required)• Introduction: Introduces the project and what you are trying to do. Also include relevant information to introduce the data mining problems and why it is a meaningful topic. What are the motivations people do data mining on this topic. • Background: you may want a separate background section to provide domain information for the topic that you are studying. You can describe with citations to relevant papers, documents, or web recourses. For public datasets on an interesting topic, you can always find a lot of related work. Assume you are writing a technical paper to public readers, you can introduce the domain knowledge and problem background information clearly to help readers understand the problem and the filed. You can also combine background and introduction into one section (with sub-sections).• Dataset Description: Describes the experiments and the experimental setup for data collection based on the documents from data recourses. Will describe the explored data sets in details. • Data Mining Experiments: in this section, describe data mining experiments you have done, such as data processing, feature extraction, feature selection, data mining models and tools, data mining strategies you explored, the evaluation metrics, and any other work related to the data mining experiments.• Experimental Results: summarize the experiment results of different models and methods/ideas. A discussion of the results may be included. • Conclusion: Provide your conclusion. For example, comment on the quality of your results. You may also want to include some material on future work, whether or not you intend to do such work. A high quality data mining project may generate a conference or journal paper after the class. • References: you may cite some papers and documents/website in the sections above. Make a reference list with clear index. 

BRAND MARKETING STRATEGY ANALYSIS

Identify one fashion brand that has not been analyzed in the End of FashionChapters

  1. Situation Analysis (Ivana)
    1) Company Analysis
    · Brief Brand history (e.g., critical moments in a company or a brand, big successes or
    big failures). Also, include the brand company’s mission statement
    · SWOT Analysis
    Strengths:
    Weaknesses:
    Opportunities:
    Threats:
    2) Industry Analysis(macro-environment analysis) (Lea)
    This section mentions important aspects of a given industry
    · Trends within this particular industry (e.g., fast fashion, haute couture/couture, luxury
    brands), such as changes in demographics (newly emerging or potential market?),
    technological, and social or economic forces that can affect the industry as a whole
    For example,
    · Consumers’ price sensitivity (economic factors), consumers’ value of sustainability
    · Technological advances that can affect online retailing systems and consumer
    engagement
    3) Competitor Analysis(micro-environment analysis) (Karen)
    · Choose one major competitor and discuss the competitor’s strengths,
    weaknesses, and any threats it poses to your brand or product.
  2. Target Consumer Analysis (Kimberly)
    One way to get a sense of the target market is to generate a brief character sketch of the
    typical target consumer (i.e., target consumer profile).
    · Target consumer profile/descriptions for your brand
  • Use multiple segmentation bases (e.g., demographic, geographic,
    psychographic, and behavioral) to increase the accuracy of understanding target
    consumers
  1. Brand Marketing Strategy DIANe
    This section includes 1) CURRENT 4Psstrategies and 2) YOUR SUGGESTIONS: what you
    think should be done in each P.

· Brand: 1) Your analyses about a brand (e.g., brand images; brand personalities),
consumer brand loyalty (brand communities), quality, design, style. Is there anything
unique about your brand compared to competitors? What consumer needs does this brand
satisfy? AND2) Your suggestions on what should be done in enhancing the brand.
Make sure to use concepts and strategies covered in class (same for analyzing other 3Ps)
· Price: 1) Your analyses about price strategies, such as brand price zones (e.g.,
luxury, bridge, better, budget or less), any price adjustment strategies (e.g., discounts,
sales promotion). Any diffusion lines? Whether price is a competitive advantage? AND2)
Your suggestions on its pricing strategies
· Promotion:1) Your analyses about promotion strategies. Where does the brand
advertise? What promotion channels (TV commercial, online advertising, social media,
the use of influencers or bloggers?) does it use? Social media presence and engagement.
AND2) Your suggestions on what can be done additionally.
· Place: 1) Your analyses about distribution strategies.Distribution channels (e.g., do
the distribution channels fit the type of brand image and price?). Single channel or omni-
channels? To what extent it provides a synchronized shopping experience (see chapter
2)? The use of social media channels? Any unique channels (e.g., trunk shows). AND2)
Your suggestions.

  1. Conclusions
    · Summary of your analyses and suggestions
  2. Reference list and Appendices

Submission Requirements:

  1. Maximum 4 pages, 12-font and single-spaced with “1” inch margins, including references.
  2. Include a reference list of academic/business sources (APA, MLA, or Chicago Manual Style)
    at the end of the paper. Also, if you use statistics, figures, and/or graphs, please include
    citations in the body of the paper (e.g., New York Times 2019) and include the full source in
    the reference list.
    · Academic and business journals or books/monographs (i.e. Business of
    Fashion, Harvard Business Review, Women’s Wear Daily, Fashion

CORPORATE GOVERNANCE

CORPORATE GOVERNANCE

QUESTION 1
Answer (a), (b), and (c)
(a) Critically evaluate the moves towards a global corporate governance code.

(10 marks)

(b) Outline the main codes in operation.

(10 marks)
(c) Discuss the reasons for differences in corporate governance codes in the first place.
(20 marks)
Total (40 marks)

QUESTION 2
Answer both (a) and (b)
(a) Critically evaluate the need for the Sarbanes-Oxley Act in the United States of
America in the aftermath of the collapse of Enron indicating major reasons for its
introduction.

(20 marks)
(b) Discuss the contrasting views on whether the Act has been successful in addressing
the need for the Act.

(20 marks)
Total (40 marks)

QUESTION 3
Critically evaluate the UK’s approach to corporate governance including an outline of the
essential features of the approach with an analysis of the benefits associated with the adoption
of such an approach. Your answer should include examples of companies who have complied
with the UK’s approach to corporate governance and examples of companies who have not
complied.

(40 marks)

QUESTION 4
Answer both (a) and (b)
There are various agency relationships which exist in a company.
(a) Critically evaluate what you consider to be the key agency relationships in a
company.

(15 marks)

(b) Outline and assess the different methods which you have studied that can be used to
overcome potential problems in these relationships.

(25 marks)
Total (40 marks)

QUESTION 5
Agency relationships are an inevitable consequence of having a public limited company.
Critically analyse the agency relationships that exist in public limited companies and outline
and critically appraise the methods that can be utilised in order to overcome potential
problems in these relationships.

(40 marks)

QUESTION 6
(i) Explain agency theory, and how it relates to corporate governance.

(18 marks)
(ii) Identify and critically analyse the ELEVEN core principles of corporate governance.
(22 marks)
Total (40 marks)

QUESTION 7
(i) Identify and critically analyse FOUR roles of non-executive directors.

(16 marks)
(ii) Identify SIX corporate governance disclosures that should be included within the
annual Report and explain their significance.

(24 marks)
Total (40 marks)

QUESTION 8
(i) Outline and critically analyse the factors which are required to ensure that the internal
audit function operates effectively.

(20 marks)
(ii) Identify and critically discuss TEN ways in which risk could be classified for any
commercial organisation.

(20 marks)
Total (40 marks)

QUESTION 9

The collapse of Enron in 2001 resulted in the enactment of the Sarbanes-Oxley Act in the
United States of America. Critically evaluate the need for the Sarbanes-Oxley Act and
discuss whether you believe that the Act has been successful in addressing the need for the
Act.

(40 marks)

QUESTION 10
Critically evaluate the key agency relationships in a company and outline and assess the
different methods which you have studied that can be used to overcome potential problems in
these relationships

(50 marks)

QUESTION 12
The Sarbanes-Oxley Act (SOX) introduced a series of corporate governance initiatives into
the federal securities laws which represented not just a considerable change in law but also a
departure in the mode of regulation. The federal regime had until then consisted of disclosure
requirements, rather than substantive corporate governance mandates.
Critically evaluate the need for the Sarbanes-Oxley Act in the United States of America in the
aftermath of the collapse of Enron and Worldcom Inc, highlighting its significant changes. In
addition discuss whether you believe that the Act has been successful in addressing that need.
(50 marks)

QUESTION 13
There have been a number of corporate governance reports in the UK, which essentially
recommend the retention of the UK’s ‘comply or explain’ approach.
The UK Code has been described as the global model of corporate best practice. Critically
evaluate the ‘comply or explain’ approach under the UK Combined Code. In your answer
you should assess the key aspects of the Code.

(50 marks)

QUESTION 14
Critically discuss the role of a stakeholder and outline each of the main stakeholders and their
respective interests.

(50 marks)

QUESTION 15
Critically evaluate the need for the Sarbanes-Oxley Act in the United States of America in the
aftermath of the collapse of Enron and discuss whether you believe that the Act has been
successful in addressing the need for the Act.

(50 marks)

QUESTION 16
Ethical sourcing and supply chain management can be a major problem for business today.
Critically analyse the problems companies encounter in ethical sourcing and supply chain
management and put forward your own suggestions as to how companies might aim to solve
these problems.

(50 marks)

QUESTION 17
Critically evaluate the moves towards a global corporate governance code with an outline of
the main codes in operation and discuss the reasons for differences in corporate governance
codes in the first place.

(50 marks)

QUESTION 18
Many people would argue that there is no such thing as Business Ethics. They would say that
business only exists to be profitable and if there is a conflict between choosing to behave
ethically and making profit, profit will always take precedence.
(a) Outline your argument to support the case for ethical behaviour in business.

(40 marks)
(b) Does ethical behaviour guarantee success for a company? Explain your answer with
reasons.

(10 marks)
Total (50 marks)

QUESTION 19
You are the Legal Counsel for a software company which intends to obtain a stock exchange
listing and as a consequence there is a requirement to improve the corporate governance of
the company. One step it is taking is setting up an audit committee. The directors are
currently interviewing two potential non-executive directors and have been asking your views
of what the responsibilities of non-executive directors and the audit committee should be.
Applicant 1 stated on her applicant’s statement that she had read about media criticism of
nonexecutive directors in the wake of many corporate scandals and shared the view of British
entrepreneur Tiny Rowland that they have in the past been no more than ‘a bauble on a
Christmas Tree’. In her opinion non-executive directors were ‘guardian angels’ and as a result
they should adopt an uncompromisingly ethical approach to all their duties, particularly their
work on the audit committee.
However, Applicant 2 stated that such quotes in the press were no more than ‘paper talk’ and
that their impact was much more widespread than this would suggest: ‘in the real world’ away
from politics, non-executive directors had to be primarily responsible for promoting the

company’s interests – the job of directors was to direct the company towards maximising its
profits. The bigger the profits, the greater the benefits are to more people.
Required:
Discuss and critically analyse the potential problems associated with recruiting non-executive
directors and critically discuss how these might be avoided. Reference should be made to the
views of the two Applicants i.e. Applicant A and Applicant B.