Papers—Papers are to reflect YOUR analysis. They will be submitted through a Turnitin dropbox. This scans the paper for both use of AI and for similarity. Similarity scores above 20% will result in automatic F grades for the course. Similarity scores between 10% and 20% are problematic and will likely result in grade penalties, scores between 5 and 10% are potentially problematic. The dropbox will be set up to exclude any quotes (properly quoted and cited) from the similarity score determination. You will be allowed to submit your papers and receive similarity scores repeatedly until the due date (the similarity reports, after the first one, can take up to 24 hours to generate). I suggest you start your submissions early to avoid any potential problems. View Turnitin as a tool to figure out how to share information from sources without unintentionally copying things.
Additionally, failure to properly use in-text citations for your sources will result in a 25% penalty in your grade on that paper.
Additionally, only use legitimate, authoritative resources. Places like Fern Fort University essentially are repositories for other students’ papers. Not something for you to cite (similar to with Wikipedia, where you would never cite the Wiki, you might find legit sources listed in the Works Cited/Bibliography section to go and find and use). Use of bogus sources like this will result in a 10% penalty for each illegitimate source used. If in doubt about the legitimacy of a source you can either ask me about it or simply not use it.
Your paper grade will be based on:
Financial analysis (40%);
The use of data/sources to support that analysis (20%);
The presentation of that analysis–organization, flow, use of tables/charts, etc. (20%); and
Explicit and accurate connection of that analysis to topics examined in class (20%)
This paper is a full analysis of your company including the components below. Minimum six pages and maximum of eight pages of text (this does not include tables/graphs etc. that you would include in an Appendix…if you include such exhibits in the Appendix, they must be referred to and explained in the body of the paper):
An introduction (with thesis statement) and conclusion
An analysis of your companies positioning within the industry (market capitalization, market share, strategies for how to compete within the industry, etc.)
The financial ratio performance of your firm (ten years of data, as available). Do NOT include Current Ratio (unless there are danger signals there). Think about what ratios actually are best at telling the story about how well your company is run and how well they’ve been performing. And, as appropriate, find industry specific ratios that add to your narrative
Analyzing the capital structure of your company (and compare/contrast how that structure looks depending on whether you use book versus market values…you MUST include both)
What sorts of strategic discussions has management shared about capital structure plans for the future?
Analyze any bond issues of the company, including the bond ratings and share and interpret the most recent yield curve (use Workspace or the FINRA site).
Use of the Beta Coefficient (and the CAPM model to get Rs) and analysis of debt issues outstanding to estimate the company’s weighted average cost of capital (WACC)
Examine the company’s ten-year record of dividends, including the dividend yield and payout ratios for the company. Are these sustainable? Has your company discussed strategies for future dividends?
Analyze the company’s stated and actualized (what has actually happened) dividend policies.
What has been the company’s approach to buying back shares? Present a number of years of data. Has this been an important way for the company to return funds to their shareholders (in comparison to dividends)? What are the current authorizations for buybacks over the next few years? What sort of discussion is there from management on the strategy of their buybacks?
What has the total payout ratio been for the past ten years? Is that sustainable?
Analyze the ownership structure for the company’s stock. (institutional v. individual, what % of the company do the Top 10 owners have? Who are they?)
Company-specific risks
Must have an apendix and sources
