Unit guid - ........ PDF

Preview

Summary

...........

Description

BFF3351 Investment banking Unit Schedule WEEK Week 1

SEMESTER 1, 2021

(Week starting Monday 8th March)

TOPIC, TASKS AND ASSESSMENTS Lecture 1: Investment banking industry and study of selected investment services. (Readings: see reading list) Lecture 2: Public offerings (1) (Readings: see reading list)

Week 3

Lecture 3: Public offerings (2)

(Week starting Monday 1st March)

Week 2

(Week starting Monday 15th March) (Readings: see reading list)

Lecture 4: Public offerings (3) / Mergers and acquisitions (1) (Readings: see reading list) Lecture 5: Mergers and acquisitions (2) Week 5 (Week starting Monday 29th March) (Readings: see reading list) Week 4

(Week starting Monday 22nd March)

SEMESTER BREAK: Monday 5th April to Friday 9th

TUTORIAL Tutorial week 1 (revision of Corporate finance 1 unit select topics) Tutorial 2: Investment banking industry and study of selected investment services. Tutorial 3: Public offerings (IPOs). Tutorial 4: Public offerings (SEOs). Tutorial 5: Public offerings/ Mergers and acquisitions.

NO CLASSES THIS WEEK

NO CLASSES THIS WEEK

NO LECTURE - SEMESTER TEST (100 minutes) DURING LECTURE TIME - delivered online via Moodle Topic 6: Project finance – this is a selfstudy topic (Readings: see reading list) Lecture 7: Mergers and acquisitions / Semester test review (Readings: see reading list) Lecture 8: Private Equity and Venture Capital (1) (Readings: see reading list) Lecture 9: Private Equity and Venture Capital (2) / Privatisation (Readings: see reading list) Lecture 10: Structured finance (Securitisation) (Readings: see reading list) ASSIGNMENT DUE THIS WEEK Lecture 11: Share buy backs (Readings: see reading list) Lecture 12: Outstanding issues and revision (includes summary review of topics for final exam)

Tutorial 6: Mergers and acquisitions.

April

Week 6 (Week starting Monday 12th April)

Week 7 (Week starting Monday 19th April)

Week 8 (Week starting Monday 26th April)

Week 9 (Week starting Monday 3rd May)

Week 10 (Week starting Monday 10th May)

Week 11 (Week starting Monday 17th May)

Week 12 (Week starting Monday 24th May)

1|AdministrationInformation

Tutorial 7: Project finance.

Tutorial 8: Mergers and acquisitions. Tutorial 9: Private Equity and Venture Capital. Tutorial 10: Private Equity and Venture Capital / Privatisation. Tutorial 11: Structured finance (Securitisation). Tutorial 12: Share buy backs.

Synopsis This unit will examine the development of investment/merchant banking in Australia and overseas; specialised financial services in project finance, structured finance and infrastructure finance; venture capital; initial public offering activities; financial advisory work including mergers and acquisitions; investment funds management activities; privatisation and corporatisation; and future directions of investment banking. Prerequisites Corporate finance 1 BFF2140 or BFB2140 or BFW2140 or BFC2140 Prohibitions None

Unitlearningoutcomes On successful completion of this unit, you should be able to: 1. describe the key operations of investment banks 2. apply valuation models to companies 3. explain regulations related to equity issues, mergers and acquisitions and share buybacks 4. apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with investment banking.

Assessment summary Assessment task

Value

Due date

Learning Outcomes Assessed

Weekly participation

10%

Ongoing throughout semester 1-4

In-semester test

15%

Teaching week six (Check your timetable; this is a Monash University centrally run test).

1-4

Group assignment

15%

Teaching week ten (before 6:00PM on Wednesday).

1-4

Final exam

60%

During the official examination period

1-4

Assessments briefly explained: Weekly participation: 10% of total available marks. Students will be provided opportunities to participate in this unit as follows: In-lecture participation (weekly on Monday during lecture time – except in week 6). Participation in lectures will be via an online polling platform (FLUX). Instructions on how to participate in Flux will be provided on Moodle and in lecture week 1. 2|AdministrationInformation

Tutorial attendance and participation (on weekly basis in weeks 1-12). Zoom tutorials or face-to-face tutorials (as per Allocate+ timetable and University announcements during semester). Moodle discussion board (weekly). Moodle discussion board participation on weekly basis (week 1-12) is optional for students who participate in lectures and tutorials; otherwise, expected to participate in discussion forum each week. Student participation rules to be explained in detail in week 1 lecture. Note that while you may not be able to participate in lectures or tutorials each week, you are expected to participate in class in most weeks. Where this is not possible, you are expected to participate in topic discussion forums in Moodle, as a minimum, in those weeks where you are unable to participate in a lecture or a tutorial (thus, discussion board participation will be accepted as substitute for in-class participation). Minimum ‘quota’ for engagement in Moodle discussions, FLUX participation in lectures and tutorial participation will be clarified further in lectures and via Moodle announcements (total participation mark for the unit/semester is 10 marks i.e. 10% of unit marks). Semester test in week 6: 15% of total available marks (online test - set as a Moodle quiz, content testing Lectures 1 to 5 and tutorial content week 1 to week 5 (inclusive); test duration: 100 minutes). Group assignment: 15% of total available marks (online submission of assignment via Moodle drop-box). Assignment topic and requirements to be announced in teaching week 3. Assignment is due on Wednesday in teaching week 10. Groups to be formed by students, registration of group members required via Moodle. Company/task to be assigned by the unit chief examiner to each group. Final exam: 60% of total available marks. Final exam will be centrally timetabled by the University (during the official final examination period for this semester). Date and time of the final exam in this unit will be announced by the University and listed in the examination timetable in due course. Assessment details: Assessment task title: Class participation Due Date: Ongoing throughout semester (in teaching weeks) Weighting/Value: 10% (lectures, tutorials or discussion board participation) Details of Task: Participation marks are awarded for in-class participation. Lectures will use online polling technology (live questions delivered and answered in class from your PC or mobile computing device). Students earn participation marks as follows: 5% of total unit assessment for lecture participation and an additional 5% for the Moodle based tutorial discussion forum participation. For lecture participation, students can participate in online polling regardless if they are being present in the lecture venue or if they are off-site and have joined the lecture via concurrent Live Streaming. It is possible that tutorial participation this semester will involve a combination of livestreaming technology (Zoom or Echo360) and/or participation in-class with tutorial attendance on campus. For students unable to attend lecture/tutorial, weekly Moodle discussion forum participation will be enabled in each teaching week. 3|AdministrationInformation

The following general guidelines will be adhered to when determining your unit participation: Tutorial participation (tutorial participation is marked out of 5 marks and represent 5% of the total marks in this unit): Release date: N/A Word limit: not applicable Presentation requirements: Answering and discussing weekly assigned questions in tutorials in week 1 to week 12. Instructions to be provided in class. Multiple choice and open-ended questions. Estimated return date: Immediate feedback on questions in class (marks provided after week 12) Lecture participation (lecture participation is marked out of 5 marks and represent 5% of the total marks in this unit): Criteria for marking: Answering online polling questions in lectures week 1 to week 12. Learning objectives assessed: This assessment task is designed to test students’ achievement of unit learning goals / objectives 1 to 4. Submission details: During your allocated / timetabled class time. Penalties for late lodgement: There will be no late lodgement of online polling answers. Must participate in class. Assessment coversheet: Not required. Additional information: Additional information and instructions to be provided in class. For Moodle discussion forum: Weekly ‘quota’ on participation via Moodle discussion forum to be explained in class and via Moodle announcements. Assessment task title: In Semester Test Due Date: Teaching week six (Check your timetable; this is a Monash University centrally run test). Weighting/Value: 15% Details of Task: The In-semester test will be closed book and is of 100 minutes duration. The test will cover content covered in classes up to and including the most recent teaching week before the week of your in-semester test; in particular any material discussed in class in weeks 1–5 (this includes both lectures and tutorials in those weeks). The test will consist of multiple-choice questions and some short answer questions. Additional detail will be provided closer to the time of the in-semester test. Calculators are permitted in the test. Students are required to purchase their own calculator and are responsible for ensuring the calculator is in good working order and to have a set of spare batteries. Release date: N/A Word limit: N/A Presentation requirements: N/A Estimated return date: By week 8 Criteria for marking: Overall, the work submitted for assessment will be graded in accord with the table showing examples of grades and corresponding achievement levels published in the Q Manual (2016, p.7). Further details on in-semester test will be released during the week immediately prior to the in-semester test. Feedback:

4|AdministrationInformation

General test feedback: General test feedback will be provided after the results are released. Learning objectives assessed: This assessment task is designed to verify your achievement of learning objectives 1 to 4, as discussed in the classes up to the week of the in-semester test. Submission details: N/A Penalties for late lodgement: N/A Assessment coversheet: N/A Additional information: The in-semester test is being centrally organised this semester. You must make arrangements so you may attend this test. Work commitments are not grounds for special consideration. The official timetable for the in semester test will be released on WES. An application for special consideration http://www.monash.edu.au/exams/assets/docs/in-semester.pdf - has to be submitted for consideration no later than two university working days after the date of an insemester test for the class to which they have been allocated. Students must not assume the outcome of an application for special consideration.

Assessment task title: Group assignment

Due Date: 6PM on Wednesday of Week 10 Weighting/Value: 15% Details of Task: This case study will require students to work in groups of up to a maximum of four members to assess an investment proposal and make an investment recommendation. Detailed instructions will be made available on Moodle. Instructions will also be provided in the lecture in week 3. Release date: Monday of Week 3 Word limit: 2,000 words Presentation requirements: Referencing requirements: Submission details: Work submitted for assessment must be consistent with the guidelines set down in the Q Manual, which is the faculty's student guide for producing quality work on time. Copies of this manual can be purchased at the bookshop or accessed online at: http://www.buseco.monash.edu.au/qmanual/qmanual.pdf. Marks may be deducted where in-text citations and/or the reference list is not consistent with the American Psychological Association (APA) style, which is illustrated in the Q Manual. Academic integrity: In order to ensure the academic integrity of your submission and to deter others from copying your work, your submission will be processed by text matching software such as Turnitin. For additional information, the University's Student Academic Integrity Policy can be found at URL: http://www.policy.monash.edu/policybank/academic/education/conduct/student-academic-integrity-policy.html Estimated return date: After week 12

5|AdministrationInformation

Criteria for marking:

Learning objectives assessed: This assessment task is designed to test students’ achievement of unit learning goals / objectives 1 to 4. Submission details: A soft copy to be submitted via turn-it-in assignment drop box on Moodle. Assignment files should be submitted in Word format (Excel format files could be used for any appendix tables or calculations/workings). Assignment cover sheet must be submitted as a separate document via assignment drop-box on Moodle. Note that a hard copy submission will NOT be required. Penalties for late lodgement: An assessment is late if it is submitted after the due date, or after the extended due date if an extension has been granted. A penalty of 10% of the total mark allocated to this assessment task will be deducted for each day, or part thereof, if it is late. Applications for an extension of time allocated to an in-semester assessment task must be made by completing the application form. The application form must be submitted to the Course Coordinator for consideration no later than two university working days after the due date. Students must not assume the outcome of an application for special consideration. Assessment coversheet: Assignment submitted for assessment must be accompanied by a completed and signed assignment coversheet, available at https://www.monash.edu/business/current-students/course-planning-adminresources-and-advice/_nocache Cover sheets are to be submitted as a separate file via assignment drop-box on Moodle. 6|AdministrationInformation

Turnitin can help you discern when you are using sources fairly, citing properly, and paraphrasing effectively in accordance with University policy. These are skills essential to all academic work. https://guides.lib.monash.edu/turnitin/using-turnitin Penalties for late lodgement: Penalties for late lodgement: The University has a standard penalty for late submission. See the Marking and Feedback Procedure for more information. Final examination Weighting: 60% Length: Additional information will be provided on the structure and the method closer to the exam period. Type (open/closed book): Additional information will be provided on the structure and the method closer to the exam period. Exam details: Additional information will be provided on the structure and the method closer to the exam period. Teaching Team: Chief Examiner/unit leader and lecturer Name: Dr Zoltan Murgulov Campus: Clayton Phone: +61 3 990 34132 Email: [email protected] Lecturer Name: Ms Fiona McNabb Campus: Caulfield Email: [email protected] Teaching associates Name: Dr Brian De Silva Email: [email protected] Name: Mr Mohan Raghavachari Email: [email protected] Name: Dr Nancy Kong Email: [email protected] Name: Mr Patrick Nolan Email: [email protected] Name: Mr Stewart Tillyard Email: [email protected] Name: Dr Vineet Tawani Email: [email protected] Name: Mr Vinay Nigam Email: [email protected] 7|AdministrationInformation

Unit delivery information Recording of lectures This unit has pre-recorded video material, readings, and workshop activities.

Live streaming If you are allocated to a lecture activity as a livestream unit you do not need to come to campus. A link to the livestreams will be available in your Moodle unit. For information on how to participate in your lectures via live streaming you can review this guide created by the library: https://guides.lib.monash.edu/learning-tools/video If you have any technical issues please contact the service desk: https://www.monash.edu/esolutions/contact If you need more information on timetabling you can visit their site: https://www.monash.edu/timetables/fix- problems

Attendance For units with on-campus classes, teaching activities are normally scheduled to start on the hour (teaching will commence on the hour and conclude 10 minutes prior to the scheduled end time). Students should note that the Unit Schedule is a guide to the material to be covered in this unit and not a definitive statement of when that material will be covered. Specific details relating to the timing will be discussed in class. For units with on-campus classes, teaching activities are normally scheduled to start on the hour (teaching will commence on the hour and conclude 10 minutes prior to the scheduled end time). You should ensure you arrive to class on time.

Assessment Administration Information This section describes the assessment procedures and rules This unit may employ invigilated electronic assessment.

Marks A student’s final mark is normally the sum of the marks obtained in all of the individual assessment items in the unit. 8|AdministrationInformation

Second marking All of the major assessment tasks and examinations graded as a fail by the first marker are marked by a second marker. See here for the Procedure

Return of final marks The final mark that a student receives for a unit will be determined by the Board of Examiners taking into account all aspects of assessment. The final mark for this unit will be released by the Board of Examiners on the date nominated in the Faculty Calendar. Student results will be accessible through the my.monash portal.

Exam viewing Feedback on student performance in examinations and other end-of-semester assessment is required. The feedback should be in accordance with the University's procedures on Unit Assessment. Details of the examination script viewing arrangements set down by the Faculty of Business and Economics are available at https://www.monash.edu/business/current-students/exams-and-results/examperformance-and-feedback

Assessment criteria Assessment Criteria Grading Descriptors available at: https://www.monash.edu/ data/assets/pdf_file/0009/801792/Grading-Scale-Policy.pdf

Hurdle requirement See Handbook

Extension and penalties Extensions are only provided under special circumstances. All applications for special consideration must be made in accordance with University guidelines. It is the student's responsibility to familiarise themselves with the University's Special Consideration policy regarding extensions for assessment tasks.

Resubmission of assignments Re-submission for assessments is not permitted for this unit.

9|AdministrationInformation

Referencing requirements To build your skills in citing and referencing, and using different referencing styles, see the online resources Academic Integrity: Demystifying Citing and Referencing at https://www.monash.edu/rlo/research-writing- assignments/referencing-andacademic-integrity/citing-and-referencing In this unit you are required to use the APA referencing style for written reports. You can get more information about using the APA reference style from the Monash Library resource.

Feedback Our feedback to you Types of feedback you can expect to receive in this unit are:    

Formal individual feedback on assignments expressed as a letter grade Answers to questions re...