{"id":19390,"date":"2024-04-04T09:25:13","date_gmt":"2024-04-04T09:25:13","guid":{"rendered":"https:\/\/www.writemyessays.app\/blog\/questions\/academic-essay-the-creation-of-shareholder-value-the-impact-of-the-global-covid-19-pandemic-on-corporate-finance\/"},"modified":"2024-04-04T09:25:13","modified_gmt":"2024-04-04T09:25:13","slug":"academic-essay-the-creation-of-shareholder-value-the-impact-of-the-global-covid-19-pandemic-on-corporate-finance","status":"publish","type":"questions","link":"https:\/\/www.writemyessays.app\/blog\/questions\/academic-essay-the-creation-of-shareholder-value-the-impact-of-the-global-covid-19-pandemic-on-corporate-finance\/","title":{"rendered":"Academic Essay \u2013 The creation of shareholder value – The Impact of the Global Covid-19 Pandemic on Corporate Finance."},"content":{"rendered":"

Instructions
\non Assessment:<\/span><\/u><\/b><\/p>\n

 <\/span><\/span><\/u><\/b><\/p>\n

This assessment is made up of an academic essay of 1500
\nwords supported by 3 blog appendices (700 words each). <\/span><\/b><\/p>\n

 <\/span><\/b><\/p>\n

Academic Essay
\n\u2013 The creation of shareholder value – The Impact of the Global Covid-19
\nPandemic on Corporate Finance.<\/span><\/b><\/p>\n

 <\/span><\/b><\/p>\n

(1,500 words excluding Blogs)<\/span><\/b><\/p>\n

 <\/span><\/b><\/p>\n

The
\nfollowing are extracts from the financial press: <\/span><\/b><\/p>\n

 <\/span><\/p>\n

Income
\ninvestors wondering how fast their dividends might recover from the pandemic
\nmay not have to wait much longer for good news. The rate of decline in UK
\npayouts fell in the three months to March to its lowest quarterly rate since
\nCovid-19 first struck, according to Link Group, an investor services company. 
\nThe headline figure \u2014 a 26.7 per cent drop \u2014 hardly looks reassuring. But the
\nrate of decline has been shrinking quarter by quarter since the 48.2 per cent
\nplunge in the dire days of April to June last year. Link forecasts increases
\nfrom now on, predicting a 5.6 per cent rise in underlying dividends, excluding
\nspecial payouts, over 2021. <\/span><\/i> <\/span>Over the 12 months to March,
\ncovering the period since the pandemic hit the UK, dividends dropped 41.6 per
\ncent, as two-thirds of companies cancelled or reduced payouts. Investors
\naltogether lost \u00a344.8bn, Link said, with 30 per cent coming from oil groups.
\nBut even in tough conditions, there were some dividend winners. Food retailers
\nraised payouts 22 per cent, led by Tesco. Consumer basics, headed by Unilever
\nand Reckitt Benckiser, also posted dividend increases over April 2020 to March
\n2021. \u201cThe outlook is brightening,\u201d Link said. \u201cBanking dividends are
\nreturning, though at low levels and there are positive signs from miners,
\ninsurance and media companies.\u201d David Smith, fund manager of Henderson High
\nIncome Trust, agreed. \u201cWhile the last year has been painful for income
\ninvestors, we can now look forward to aggregate dividends growing from their
\nlowered base,\u201d he said.<\/span><\/span><\/i><\/p>\n

 <\/span><\/i><\/p>\n

(FT.com \u2018Glimmer
\nof hope in U.K Dividend drought\u2019, April 28th 2021)<\/span><\/p>\n

 <\/span><\/p>\n

Panasonic is paying $7.1bn to acquire US
\nsupply chain software company Blue Yonder in a deal that highlights the
\nchanging global business environment of the pandemic and a resurgence of
\noverseas acquisitions by Japanese companies. Under the agreement announced on
\nFriday, Panasonic will build on the 20 per cent stake it acquired in Blue
\nYonder last year. It will buy the remainder of the company from private equity
\ngroups Blackstone and New Mountain Capital in a deal that, including debt,
\nvalues the target at $8.5bn. The US group\u2019s enterprise value has jumped from
\n$5.5bn a year ago as supply chain disruptions during the pandemic boosted
\ndemand for software that helps companies manage logistics and shipping. Earlier
\nthis month, Blue Yonder revealed that it was preparing to go public after
\nfiling paperwork with the Securities and Exchange Commission. For Panasonic,
\nthe deal will allow it to combine Blue Yonder\u2019s software with its traditional
\nbusiness of selling hardware such as security cameras. It will be the group\u2019s
\nbiggest overseas acquisition and the first under its new chief executive Yuki
\nKusumi, who took up the post this month\u2026 The pandemic, which limited
\ninternational travel and made hands-on due diligence more difficult, caused a
\nsharp slowdown in outbound deals in 2020. But in the first quarter of 2021,
\nsaid Bank of America analysts in a note this week, Japan\u2019s overseas dealmaking
\nstaged a surprise resurgence. Companies collectively undertook $29bn in cross
\nborder M&A, the highest January to March figure of recent years, involving
\na near-record high of 110 deals.<\/span><\/span><\/i><\/p>\n

 <\/span><\/i><\/p>\n

(FT.com
\nPanasonic to pay $7.1bn for supply chain software Blue Yonder, April 23rd 2021)<\/span><\/p>\n

 <\/span><\/p>\n

Requirement<\/span><\/b><\/p>\n

You are, in an
\nacademic essay format (70% of marks), required to answer one<\/u><\/b> of
\nthe following two tasks.<\/span><\/p>\n

 <\/span><\/p>\n

Task 1:<\/span><\/u><\/b> You are to critically evaluate the literature<\/b> on Dividends and
\nDividend Policy and using examples from the financial press, assess the impact
\nof the Covid-19 pandemic on the dividend decision of companies throughout the different
\nphases of the pandemic. You are to reach a conclusion as to whether dividend
\npolicy has a substantive impact in the creation or destruction of shareholder
\nwealth.<\/span><\/p>\n

 <\/span><\/p>\n

Task 2:<\/span><\/u><\/b> You are to come to conclusion, supported by the academic literature,<\/b>
\nas to the ability of managers to value companies in the context of the global
\nCovid-19 pandemic and to create shareholder value by engaging in merger and
\nacquisition activity. You should make reference to current examples of merger
\nand acquisition activity from the financial press.<\/u><\/b><\/span><\/p>\n

 <\/span><\/p>\n

Guidance Notes:<\/span><\/i><\/p>\n

 <\/span><\/i><\/p>\n

o    <\/span><\/span><\/span>You are expected to use strong and reputable business news sources such
\nas the Financial Times and Bloomberg to read around and develop your
\nunderstanding of the cases you use. <\/span><\/p>\n

o    <\/span><\/span><\/span>You may use the companies mentioned in the above extracts as a starting
\npoint, but you should widen your research to include other examples to support
\nyour arguments. You are not limited to the U.K for examples. <\/span><\/p>\n

o    <\/span><\/span><\/span>Your answers should focus specifically on the impact of the covid-19
\npandemic on companies. This theme runs through the assessment. Therefore you
\nshould use the academic literature to support your arguments but should not
\nexpect to gain information about the global pandemic from the literature. You are
\nstrongly encouraged to use real-world examples from different phases of the
\npandemic.<\/span><\/p>\n

 <\/span><\/p>\n

Your answers should specifically be
\nwritten in an academic essay format and not
\nin the format of a business report<\/b>. Essays specifically should not include
\nheadings, section headings, etc. Your essay should concentrate particularly
\nensure that there is considerable flow and cohesion between the paragraphs. It
\nis advised that you make good use of the writing support materials on the
\nBlackboard site. Specifically all students will benefit from reading through <\/span><\/p>\n

https:\/\/students.unimelb.edu.au\/academic-skills\/resources\/essay-writing\/six-top-tips-for-writing-a-great-essay<\/span><\/a><\/span><\/span><\/p>\n

 <\/span><\/p>\n

 <\/span><\/p>\n

 <\/span><\/b><\/p>\n

Blog Appendices <\/span><\/b><\/p>\n

 <\/span><\/b><\/p>\n

(30% of Marks; 10 marks per blog)<\/span><\/p>\n

 <\/span><\/p>\n

    \n
  1. This essay is to be
    \n supported by three<\/b> blog appendices.
    \n Students should write blogs to cover topics related to each of three<\/b> out of the four <\/b>syllabus areas covered in the module (creating
    \n value, core concepts of corporate finance, financial investment, financial
    \n ethics). Students will receive a
    \n maximum of 10 marks<\/b> for each Blog<\/b>
    \n post submitted (30 marks total)<\/b>.
    \n Blog posts do not have to be about the pandemic and can be on any
    \n contemporary issue. Students are encouraged to complete blogs throughout
    \n the semester although these are submitted during the assessment period.<\/u><\/span><\/li>\n<\/ol>\n

     <\/span><\/span><\/u><\/p>\n

    2.     <\/span><\/span><\/span><\/b>Each of the
    \nthree Blog posts should reflect<\/b> on a
    \nreal-world contemporary <\/b>issue
    \n(please ensure your blogs are current). Students should demonstrate their
    \nability to apply theory to real world cases and reflect on<\/b> what they are being taught in seminars, lectures and
    \nthrough the directed reading relates to the real world which they are
    \ndiscussing. Good Blog posts would be in-depth, considered, and displaying a
    \nmature ability to analyse, disseminate and discuss. Poor Blog posts are
    \ndescriptive in nature and display only a surface appreciation of the issues. The maximum word length is 700 words per
    \nblog. <\/b><\/span><\/p>\n

     <\/span><\/span><\/b><\/p>\n

      \n
    1. It is advised that students use a
      \n free Blog service like Google\u2019s Blogger<\/b>.
      \n Students are not restricted to Blogger and may use any blogging service.<\/span><\/li>\n<\/ol>\n

       <\/span><\/p>\n

        \n
      1. Students may design
        \n their Blog how they wish, however it is requested that they both refrain
        \n from links to unsuitable websites and that they remember the university\u2019s internet usage policy <\/b>when
        \n posting and designing their blogs.<\/span><\/li>\n<\/ol>\n

         <\/span><\/p>\n

        5.    
        \n<\/span><\/span><\/span>Be creative<\/span><\/b> and don\u2019t
        \nview this as a chore or requirement. Try and take time rather than rushing
        \nthis. The Blog is marked on depth of reflection and consideration. Remember
        \nthat deep and considered blog posts will allow you to evidence more and
        \nmaximise your \u201ccritically assess\u201d and \u201ccritically analyse\u201d <\/span><\/p>\n

         <\/span><\/p>\n

        6.    
        \n<\/span><\/span><\/span>Bring in contemporary issues or things
        \nhappening that week in the news. Use the Blog to display what you\u2019ve been
        \nreading about. Perhaps before blogging have a search through the Financial
        \nTimes for that week or have a read of what other top business journalists are
        \ntalking. Try and make your blog posts as contemporary and timely as possible to
        \nmaximise marks. Don\u2019t Blog about something what happened last year, Blog about
        \nthings happening now, and things you may want to talk about in interviews with
        \nfuture employers.<\/span><\/p>\n

         <\/span><\/b><\/p>\n

        Late
        \nsubmission of work <\/span><\/u><\/b><\/p>\n

         <\/span><\/p>\n

        Coursework submitted
        \nmore than 1 day (24 hours) <\/b>after the published hand-in deadline without
        \napproval will be marked as zero but will be eligible for referral. The
        \nreassessment, should where appropriate, and as determined by the Module Leader,
        \nbe the same method (e.g. essay) but maybe with a different task (e.g. different
        \nessay <\/span>title)
        \nor with the same task (e.g. the same essay title) as indicated in the Module
        \nhandbook. <\/span><\/span><\/p>\n

         <\/span><\/p>\n

        In
        \nmodules where there is more than one assessment component, Students are not
        \nrequired to complete all assessment components if an overall Pass Mark (40% UG,
        \n50% PGT) has been achieved. The only permitted exception will be in cases where
        \nthe University is prevented from doing so by a PSRB requirement. <\/span><\/p>\n

         <\/span><\/p>\n

        In
        \nthe case of PSRB requirements, a variation order will be required from the
        \nregulations. <\/span><\/p>\n

         <\/span><\/p>\n

        In
        \nmodules, where there is more than one assessment component and an overall pass
        \nmark has not been achieved, Students will be eligible for a referral* in the
        \nindividual failed module and\/or not attempted component(s) of assessment.<\/span><\/span><\/i><\/p>\n

         <\/span><\/p>\n

        These provisions apply to all assessments, including those assessed on a
        \nPass\/Fail basis.<\/span><\/p>\n



        \nThe full policy can be found<\/span>         here<\/span><\/a><\/span>.<\/span><\/span><\/p>\n

         <\/span><\/span><\/u><\/b><\/p>\n

         <\/span><\/span><\/u><\/b><\/p>\n

        Word
        \nlimits and penalties <\/span><\/u><\/b><\/p>\n

         <\/span><\/p>\n

        If the assignment is within +10% of the
        \nstated word limit no penalty will apply.<\/span><\/p>\n

         <\/span><\/p>\n

        The
        \nword count is to be declared on the front page of your assignment and the
        \nassignment cover sheet.  <\/span>The word count
        \ndoes not include:<\/span><\/p>\n

         <\/span><\/p>\n\n\n\n\n
        \n

        \u00b7       <\/span><\/span><\/span>Title and
        \n Contents page<\/span><\/p>\n<\/td>\n

        		\n

        \u00b7       <\/span><\/span><\/span>Reference
        \n list<\/span><\/p>\n<\/td>\n

        		\n

        \u00b7       <\/span><\/span><\/span>Appendices<\/span><\/p>\n<\/td>\n

        		\n

        \u00b7      <\/span><\/span><\/span>Appropriate
        \n tables, figures and illustrations<\/span><\/p>\n<\/td>\n<\/tr>\n

        \n

        \u00b7       <\/span><\/span><\/span>Glossary<\/span><\/p>\n<\/td>\n

        		\n

        \u00b7       <\/span><\/span><\/span>Bibliography<\/span><\/p>\n<\/td>\n

        		\n

        \u00b7       <\/span><\/span><\/span>Quotes
        \n from interviews and focus groups.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

         <\/span><\/p>\n

        Please
        \nnote, in text citations [e.g. (Smith, 2011)] and direct secondary quotations
        \n[e.g. \u201cdib-dab nonsense analysis<\/i>\u201d
        \n(Smith, 2011 p.123)] are INCLUDED in the word count.<\/span><\/p>\n

         <\/span><\/p>\n

        <\/p>\n

         <\/span><\/p>\n

        <\/p>\n

         <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        Instructions on Assessment:   This assessment is made up of an academic essay of 1500 words supported by 3 blog appendices (700 words each).   Academic Essay \u2013 The creation of shareholder value – The Impact of the Global Covid-19 Pandemic on Corporate Finance.   (1,500 words excluding Blogs)   The following are extracts from […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[9],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/questions\/19390"}],"collection":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/comments?post=19390"}],"version-history":[{"count":0,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/questions\/19390\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/media?parent=19390"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/disciplines?post=19390"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/paper_types?post=19390"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/tagged?post=19390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}