Importance of Merger and Acquisition for Developed Economy
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Importance of Merger and Acquisition for Developed Economy
“Companies are paying out too much in dividends. Shareholders have too much power in corporate affairs. In addition, company law should be changed to allow more power for other “stakeholders” – customers and employees. So says Andy Haldane, chief economist at the Bank of England, in a critique that will be seized upon as compelling evidence of broken capitalism.” Bill Jamieson
The assertion within the above quote is that companies are not investing for the future as much as they should. Thus, pursuing short-termism – a focus on immediate gains rather than long-term prospects. Given this assertion, you are required to:
Evaluate dividend policy theories and whether companies should maximise shareholders wealth or satisfice stakeholders’ other objectives.
(25 marks)
Select a company of your choice from the top 250 UK listed companies for which you can easily access annual reports, especially information on dividend policy, share prices, and capital structure for a continuous period of not less than 11 years. Using this information, critically evaluate whether the firm’s dividend policy have had any impact on its share price.
(35 marks)
Using Fisher-Hirshleifer model, examine firms’ investment decisions, owners’ consumption decisions in relation to the role of capital markets. (20 marks)
Discuss the importance of merger and acquisition for developed economy (20 marks
Total marks (100 marks)
Your coursework should not exceed 3000 words. There is no fixed penalty for exceeding the word count, but students should be made aware that the marker will not consider any work after the +10% word count tolerance has been reached, within the allocation of marks. Students may therefore be penalised for a failure to be concise and for failing to conclude their work within the word count specified.
Indicative contents
a)
Critically review / evaluate dividend policies
What is the impact of dividend payment on companies’ investment practices and their capital structure?
Who are stakeholders within a company and what are competing interests of stakeholders versus shareholders?
(35 marks)
b)
Role of dividend in terms of signalling theory
Use data to benchmark comparison between share price and firm’s dividend policy
To carry out data analysis and comment what other factors than dividend pay-out impact on company’s share price
(35 marks)
c)
Use HL model to explain the operation of the separation theorem.
Infer the relationship between capital markets and consumption decision
Relate the HL model with agency relationship
(30 marks)
d)
Define merger and acquisition
Discuss importance of merger
Why merger and acquisitions are more active in developed countries
RUBRIC
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. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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