[SOLVED] Global Financial Markets

[SOLVED] Global Financial Markets

Assessment Brief
Academic year and term: 2021/22 – Semester S
Module title: Global Financial Markets
Assessment deadlines: Formative: one page plan
Summative: assignment 2000 words
Instructions for assessment: Summative components overview
Components of summative assessment
Individual submission Word count Weighting Must Attempt
Y/N Must Pass
Y/N Sub-components
Assignment Individual max. 2,000 100% Yes Yes n/a
Note that above table does not include the formative assessments and that formative assessments are not marked.
Instructions for assessment
Akzo Nobel plans to open a new factory in the UK. The cost of building new factory is £100 million:
1. Describe the mechanism of direct and indirect finances available to Akzo Nobel? Which one do you think will be preferred? And why?
[10 marks]
2. Describe the types of financial intermediaries that can help Akzo Nobel to finance new factory? Are there any differences in the way they can provide financing?
[15 marks]
3. Which exchange does Akzo Nobel use to issue shares for raising capital? (examine Investor relations website https://www.akzonobel.com/en/for-investors/for-investors-overview). How big was capital raised? What is shares buyback, and what are the reasons behind a buyback?
[15 marks]
4. What is the price of Akzo Nobels 1.625% annual coupon bond with maturity on April 2030 and required rate 1%, face value 1000 EUR? Show your calculations. What is a range for ratings of existing Akzo Nobel bonds (AAA, Abb, etc)? Is there any collateral for the bonds? Should the company issue bonds or stocks (explain your reasons)?
[20 marks]
5. Assuming Akzo Nobel borrows £100 mil on UK market for ten years in the form of bonds (floating coupon currently at 2%). How should Akzo Nobel manage interest rate risk?
[15 marks]
6. UK branch of Akzo Nobel operates in pounds; however, company headquarters are in the Netherlands. What FX risks does the company face? How should Akzo Nobel hedge their FX risk?
[15 marks]
Additional 10 marks will be allocated for presentation and use of appropriate references.
How will your work be assessed?
Your work will be assessed by a subject expert who will use either the marking criteria provided in the section “Instructions for assessment” or the Marking rubric enclosed in the Appendix, as appropriate for this module. When you access your marked work it is important that you reflect on the feedback so that you can use it to improve future assignments.
Marking and feedback process
Between you handing in your work and then receiving your feedback and marks within 20 days, there are a number of quality assurance processes that we go through to ensure that students receive marks which reflects their work. A brief summary is provided below.
Step One – The module and marking team meet to agree standards, expectations and how feedback will be provided.
Step Two – A subject expert will mark your work using the criteria provided in the assessment brief.
Step Three – A moderation meeting takes place where all members of the teaching and marking team will review the marking of others to confirm whether they agree with the mark and feedback
Step Four – Work then goes to an external examiner who will review a sample of work to confirm that the marking between different staff is consistent and fair
Outstanding 100 Excellent
(80-89) Very Good
(70-79) Good
(60-69) Satisfactory
(50-59) Adequate
(40-49) Marginal Fail
(30-39) Fail
(20-29) Not done
Q1. Mechanism of direct and indirect finances
(10%)
An outstanding discussion of direct and indirect finances available which is clearly linked to and supported by theory.
The theory is supported by examples from academic articles or relevant professional practice journals.
A range of sources used to support the view. Evidence of financial press and journals used.
Excellent research skills.
Company specific examples are used. An excellent discussion of direct and indirect finances available which is clearly linked to and supported by theory. A range of sources used to support the view, including academic sources. Evidence of financial press and journals use.
Evidence of independent research skills. A very good discussion of direct and indirect finances available which is clearly linked to and supported by theory.
Use of financial journals and press.
Evidence of independent research skills. A good discussion of direct and indirect finances which is linked to and supported by theory.
Use of academic literature.
A satisfactory discussion of direct and indirect finances
Discussion based on some good assumptions and facts although limited.
An adequate explanation of direct and indirect finances
– but the lack of supporting evidence. Limited or very poor understanding shown on direct and indirect financial approaches. Limited or no academic sources. Misunderstanding of the process of direct or indirect finances.
Missing. Wholly incorrect or not attempted.
Q2.
Types of financial intermediaries (15%) An outstanding discussion of financial intermediaries.
The theory is supported by examples from academic articles or relevant professional practice journals.
A range of sources used to support the view. Evidence of the use of the range of financial press and journals.
Excellent research skills.
All relevant financial intermediaries are addressed and supported by the theory. Use theory and professional practice examples. An excellent discussion of financial intermediaries. A range of sources used to support the view, including academic sources. Evidence of financial press and journals use.
Evidence of independent research skills. Some of the relevant financial intermediaries are not mentioned. Use theory and professional practice examples. A very good discussion of financial intermediaries. which is clearly linked to and supported by theory.
Use of financial journals and press.
Evidence of independent research skills. Selected financial intermediaries are used. Use theory and professional practice examples. A good discussion of financial intermediaries which is linked to and supported by theory.
Use of academic literature. Focused on the theory with limited professional practice examples
A satisfactory discussion of financial intermediaries Discussion based on some good assumptions and facts although limited. Focused on the theory with limited professional practice examples
An adequate explanation of financial intermediaries
– but the lack of supporting evidence. Limited or very poor understanding shown for the concept of financial intermediaries. Misunderstanding of financial intermediaries financial process. Non are mentioned in the appropriate manner.
Missing. Wholly incorrect or not attempted.
Q3. Raising capital using stock exchange (15%)
An outstanding
description of the stock exchange and shares buyback method. A range of sources used to support the view, including academic sources. The example of the company is used. The information is referenced well and from appropriate sources including annual report. An excellent description of the stock exchange and shares buyback method. A range of sources used to support the view, some academic sources are used. The example of the company is used. The information is referenced well and from appropriate sources including annual report.
A very good description of the stock exchange and shares buyback method. A range of sources used to support the view, including academic sources. Limited amount of company specific information. The information is referenced well and from appropriate sources including annual report.
A good description of the stock exchange and shares buyback method. A range of sources used to support the view, including academic sources. A very limited examples of the company activity. The information is referenced well and from appropriate sources.
A satisfactory description of the stock exchange and shares buyback method. A range of sources used to support the view, including academic sources. Company activity is not described.
An adequate
and general description of the stock exchange and shares buyback method. Limited sources used to support the view, including academic sources. Company activity is not described. Poor, Limited or No
awareness description of the stock exchange and shares buyback method. Limited sources used to support the view, inappropriate sources used including internet resources. Company activity is not described.
Limited description of the stock exchange and shares buyback method. Limited sources used to support the view, no academic sources. Company activity is not described. Missing. Wholly incorrect or not attempted.
Q4 Fixed income markets (20%) An outstanding description of the fixed income market. Exelent and correct calculations. All company specific information is meantioned appropriatly in the question. A range of sources used to support the view, including academic sources. The example of the company is used. The information is referenced well and from appropriate sources including annual report. An excellent
description of the fixed income market. Detailed and correct calculations. A range of sources used to support the view, some academic sources are used. The example of the company is used. The information is referenced well and from appropriate sources including annual report..
A very good
description of the fixed income market. Correct calculations. A range of sources used to support the view, including academic sources. Limited amount of company specific information. The information is referenced well and from appropriate sources including annual report.
A Good
description of the fixed income market. Correct calculations. A range of sources used to support the view, including academic sources. A very limited examples of the company activity. The information is referenced well and from appropriate sources.
. A satisfactory
description of the fixed income market. Correct calculations or a minor mistake. A range of sources used to support the view, including academic sources. Company activity is not described. An adequate:
description of the fixed income market. Minor mistakes in calculations. Limited sources used to support the view, including academic sources. Company activity is not described. Poor, Limited or No description of the fixed income market. Incorrect calculations. Limited sources used to support the view, inappropriate sources used including internet resources. Company activity is not described.
Limited
description of the fixed income market. Incorrect calculations. Limited sources used to support the view, no academic sources. Company activity is not described.
Missing. Wholly incorrect or not attempted.
Q5 Risk management (15%) An outstanding description of the risk management prosess in financial institutions including an appropriate references to the theory. The company risk management process is described well, using realistic examples from the company. A range of sources used to support the view, including academic sources. The information is referenced well and from appropriate sources including annual report. An excellent description of the risk management prosess in financial institutions including an appropriate references to the theory. A range of sources used to support the view, some academic sources are used. The example of the company is used. The information is referenced well and from appropriate sources including Annual report..
A very good description of the risk management prosess in financial institutions including an appropriate references to the theory.
A range of sources used to support the view, including academic sources. Limited amount of company specific information. The information is referenced well and from appropriate sources including Annual report.
A Good description of the risk management prosess in financial institutions including an appropriate references to the theory. A very limited examples of the company activity. The information is referenced well and from appropriate sources.
.
A satisfactory description of the risk management prosess in financial institutions including an appropriate references to the theory. A range of sources used to support the view, including academic sources. Company activity is not described.
An adequate: description of the risk management prosess in financial institutions including an appropriate references to the theory. Limited sources used to support the view, including academic sources. Company activity is not described.
. Poor, Limited or No
description of the risk management prosess in financial institutions. Limited sources used to support the view, inappropriate sources used including internet resources. Company activity is not described.
Limited description of the risk management prosess in financial institutions. Limited sources used to support the view, no academic sources. Company activity is not described.
Any calculations are not accurate. Missing. Wholly incorrect or not attempted.
Q6 Derivatives (15%) An outstanding
description of the available derivatives and hedging strategies. Company issues are well analysed and appropriate hedging strategies are suggested. A range of sources used to support the view, including academic sources. The information is referenced well and from appropriate sources including annual report. An excellent description of the available derivatives and hedging strategies. Company issues are analysed and appropriate hedging strategies are suggested. Some of the strategies may be missing.
A very good description of the available derivatives and hedging strategies. Company issues are well analysed and appropriate hedging strategies are suggested. Some of the strategies are be missing.
A Good description of the available derivatives and hedging strategies. Company issues analysis is very limited. The information is referenced well and from appropriate sources.
.
A satisfactory description of the available derivatives and hedging strategies. Company analysis is limited or not done. A range of sources used to support the view, including academic sources. Company activity is not described.
An adequate description of the available derivatives and hedging strategies. Limited sources used to support the view, including academic sources. Company issues are not described. Any calculations are not accurate. Poor, Limited or No
description of the available derivatives and hedging strategies. Company issues are not described. Limited sources used to support the view, inappropriate sources used including internet resources. Any calculations are not accurate. Limited description of the available derivatives and hedging strategies. Company issues are not described. Limited sources used to support the view, no academic sources.
Any calculations are not accurate. Missing. Wholly incorrect or not attempted.
Overall presentation and referencing (10%)
The overall level of presentation is outstanding. The Harvard system of referencing has been applied in an exemplary way with no incomplete or inaccurate references. The overall level of presentation is excellent. The Harvard system of referencing has been applied very effectively with virtually no incomplete and inaccurate references. The overall level of presentation is very good. The Harvard system of referencing has been applied very effectively with virtually no inaccurate references. The overall level of presentation is good. The Harvard system of referencing has been applied effectively with very few incomplete and inaccurate references. The overall level of presentation is fairly good. The Harvard system of referencing has been applied effectively but a few of the references are incomplete and inaccurate. The overall level of presentation is adequate. The Harvard system of referencing has been used but some of the references are incomplete and inaccurate. The overall level of presentation is weak. The Harvard system of referencing has been used but several of the references are incomplete and inaccurate The overall level of presentation is poor. The Harvard system of referencing has applied in an inadequate way, with many incomplete and inaccurate references. The overall level of presentation is very poor. The Harvard system of referencing is not used and references are incomplete and inaccurate.


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