• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
[ ] ABF3004.doc.doc
 

[ ] ABF3004.doc.doc

on

  • 1,219 views

 

Statistics

Views

Total Views
1,219
Views on SlideShare
1,219
Embed Views
0

Actions

Likes
0
Downloads
2
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft Word

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    [ ] ABF3004.doc.doc [ ] ABF3004.doc.doc Document Transcript

    • GRIFFITH UNIVERSITY FACULTY OF COMMERCE AND MANAGEMENT SCHOOL OF ACCOUNTING, BANKING AND FINANCE SUBJECT OUTLINE – SEMESTER 2, 1999SUBJECT CODE AND TITLE ABF3004 ADVANCED FINANCE AND SECURITY ANALYSISCOURSES Bachelor of Commerce Bachelor of Commerce – Banking, Finance and Risk Management Master of Banking and FinanceSTATUS OF SUBJECT Supporting subject: Accounting and Finance, Banking and Finance, Finance and Risk Management majors; General electiveCREDIT POINT VALUE 10SEMESTER(S) OFFERED TwoRELATED SUBJECTSPrerequisites (ABF2002)FF12300 Business FinanceCo-Requisites NilPrior Assumed NilIncompatibles FF13A40 Advanced Finance & Security AnalysisCROSS REGISTRATION STATUS LimitedTIMETABLING INFORMATION* Lecture - night; Tutorials - day and night.*This timetable information may besubject to changeSTAFFINGSubject Convenor Dr. Eduardo D. RocaTeaching Team Dr. Eduardo D. Roca (for Lectures) Ms. Qing Wan (for Tutorials)
    • School of Accounting, Banking and Finance 2S2/99- 06 July1999BRIEF DESCRIPTION OF SUBJECTThis subject provides a theoretical framework for understanding resource acquisition, allocationand distributions within the context of efficient capital markets. It extends the study of financedecisions to include the analysis of securities and develops the application of the theoreticalconcepts of finance to difficult and complex problems such as dividend, finance and investmentdecisions.OBJECTIVES OF SUBJECTUpon completion of this subject, students should be able to:• fully understand the theoretical foundations of portfolio and security analysis;• recognise the assumptions underlying various investment strategies;• be aware of the issues involved in bond and equity portfolio management;• identify the role of derivatives in modern portfolio management;• employ a top-down or three-stage security analysis approach;• use a number of techniques to evaluate portfolio performance;• apply the theoretical concepts of finance to difficult and complex decisions concerning dividends, financing and investment.CONTENTThe following topics will be covered:• The Investment Setting• Securities Markets and Indicators• Portfolio Theory• Asset Pricing Models• Fundamentals of Stock Valuation• Three-Step/Top-Down Analysis• Market Efficiency• Fundamentals of Bills and Bonds• Bond Portfolio Management• Derivative Securities and Markets• Portfolio Management and Performance• Investment Decisions• Financing Decisions• Dividend DecisionsTEACHING AND LEARNING STRATEGIESThe subject will be conducted through a combination of lectures and tutorials. There will be atwo-hour lecture and one-hour tutorial for a period of 13 weeks. The lecture will focus onproviding the students with different or alternative theoretical and conceptual frameworks that areessential in the understanding portfolio and security analysis and selected advanced financetopics. Important theoretical applications will also be discussed during the lecture. The tutorials,on the other hand, will provide the students the opportunity to solve certain practical as well astheoretical questions which will test their understanding of the theories and concepts discussedduring the lecture. Students are expected to study the assigned reading materials and work on the
    • School of Accounting, Banking and Finance 3S2/99- 06 July1999assigned exercises before coming to each lecture and/or tutorial session Although this subject hasa formal contact time of three hours per week, students are expected to devote, on average, anadditional eight hours per week on self-study and exercises.In order to maximise learning in the subject, students are expected to attend all lectures andtutorials. Students who are absent in any of these sessions (without any valid reasons) areresponsible on their own for any materials or other learning matters which they have missed inthe session(s), and therefore should not form the expectation that they can obtain these from theteaching team. The teaching team, for certain sessions, may decide to place a copy of the lecturenotes and/or tutorial answers in the Reserve Section (electronic reserve) of the Library. Students,however, should never form any expectation that these materials (lecture notes and tutorialanswers) will be regularly available in the Library.ASSESSMENTThe assessment items for the subject consist of the following: Item Length % Weighting Due DateMid-Semester Exam 1.5 hours 25% Week 7Final Exam 3 hours 50% End of semesterTutorial Exercises 4 sets of tutorial 10% 4 unannounced dates exercises with varied to be randomly chosen type of questionsSemester 2,000-2,500 words 15% October 25, 1999(notPaper/Project later than 6.00 pm)Mid-Semester ExaminationThis will consist of a mixture of theoretical and practical questions on topics covered duringWeeks 1 to 5, and will be held during Week 7. Further details will be provided closer to the timeof examination.Final ExaminationThis will be a mixture of both theoretical and practical questions. All materials covered duringthe semester are examinable, although students may reasonably expect that emphasis will beplaced upon previously unexamined material. A guide to the examination structure and contentwill be provided towards the end of the semester.Tutorial ExercisesFor each tutorial session, students will be assigned tutorial exercises consisting of a set ofquestions (problem solving, discussion, short answers) to be answered. Students are expected towork on these exercises before coming to each tutorial session. The tutor will collect fromstudents their answers to tutorials on four randomly chosen weeks which are going to beunannounced. These answers will be marked and will have a total weight of 10% of the totalgrade.
    • School of Accounting, Banking and Finance 4S2/99- 06 July1999Semester Paper/ProjectEach student is required to write a paper or do a project on a particular problem or issue inportfolio and security analysis or finance. A list of suggested topics will be provided to thestudents during Week 1. The emphasis of the paper/project should be on the analysis of theissue(s), not simple description of events. In its analysis, the paper/project should clearlydemonstrate the interaction between theory and real world data. In other words, the paper shouldanalyse real world event(s) guided by theories in portfolio and security analysis or finance. Thus,in this regard, purely theoretical or purely descriptive (simple discussion of data without anyattempt or resort to the use of theories) will not be acceptable. The paper/project is expected tohave the following components:• aims and objectives – discussion of the specific questions or problems that the paper/project seeks to investigate.• importance of the study – the theoretical and practical importance of the issues/problems being investigated; have these issues/problems been investigated before by others?; how different is your paper from previous studies on the topic?; what benefits that can be obtained from the results of the paper in terms of new knowledge, usefulness for investors, policymakers, etc.?• theoretical or conceptual framework – theories or concepts in finance or portfolio and security analysis which are used in the study and why and how these are used in the analysis.• methodology – what data are used and why?; how are the data analysed and why?; what kind of statistical techniques are used and why?; what questionnaires (if any) are used and how are these constructed?.• presentation of results and analysis – discussion and analysis of results with reference to the theories discussed in theoretical framework and also in relation to previous studies.• conclusionThe paper should be between 2,000 and 2,500 words, typewritten, double line-spaced, presentedon A4 paper, with 4 cm left-hand margin, and with appropriate citations and referencing. Forpapers that exceed the limit, only the first 2,500 words will be considered. A hard copy as wellas an electronic copy of the paper must be submitted to the any member of the teaching team nolater than 6 p.m. on October 25, 1999. Papers submitted without the accompanying disk copywill not be marked. Late submission will attract a deduction of 10% a day. Excuses such ascomputer breakdown, work commitments, etc. will not be acceptable. A submission form mustbe filled out and submitted together with the paper. Paper without a submission form will not beaccepted. The submission form will be available from the teaching team starting in Week 1.An important objective of the paper or project is to gauge how well a student expresses his/herown ideas. Thus, it is expected that students will use their own words when writing the paper.Verbatim quotes are therefore only to be used when absolutely necessary. Students should takeextra care to make sure that their papers/projects will not in any way breach any of the guidelinesof the university on plagiarism. Plagiarism is considered by the university as a very seriousoffence. If you are unsure about the university’s guidelines on plagiarism, take time tofamiliarise yourself with these from the University’s homepage in the internet.
    • School of Accounting, Banking and Finance 5S2/99- 06 July1999TEACHING TEAMAs stated earlier, this subject will be taught by Dr. Eduardo Roca and Miss Qing Wan. Eduardowill handle the lectures while Qing will lead the tutorials. Their contact details are as follows: Dr. Eduardo D. Roca Ms. Qing WanRoom 2.48 BUN Building TBAMailing Address School of Accounting, School of Accounting, Banking and Finance Banking and Finance Faculty of Commerce and Faculty of Commerce and Management Management Griffith University Griffith University Nathan, Queensland 4111 Nathan, Queensland 4111Telephone (07) 3875 7583 To be announced laterFax (07) 3875 7760 (07) 3875 7760Email Address E.Roca@mailbox.gu.edu.au To be announced laterEduardo is presently a Lecturer in the School of Accounting, Banking and Finance in GriffithUniversity. He has taught finance, both in the undergraduate and graduate levels, not only inGriffith University but also in the Queensland University of Technology and the University ofSouthern Queensland. Eduardo completed a Ph.D. from Griffith University dealing withinternational financial markets and financial econometrics with a focus on Australia, the US, UKand the major Asian stock markets. He is presently writing a book on Equity Market PriceInterdependence in the Asia-Pacific Region for Ashgate Publishing Ltd, UK which hopefully willcome off the press in January or February next year. Eduardo has also published/written somejournal articles dealing with stock market integration among the ASEAN countries and betweenAustralia and its major trading partners. In terms of practical experience, Eduardo has previouslyworked in the finance area in financial, business and government institutions for a number ofyears.Qing (or Ching) is currently finishing (on her last semester) the Master of Banking and Financedegree here in Griffith University. Prior to this, Ching had completed a Bachelor in InternationalBusiness degree also here in Griffith University. Ching has completed with high distinction thefollowing subjects: Advanced Finance and Security Analysis, Advanced Business Finance.Ching will enroll in the Honours in Finance next semester as a preparation for the pursuit of aPh.D. degree in Finance.Eduardo and Ching’s consultation hours will be announced during the first session of the subject.
    • School of Accounting, Banking and Finance 6S2/99- 06 July1999READING MATERIALSPrescribed TextbookBrailsford, T. and R. Heaney (1998). Investments: Concepts and Applications. Sydney: Harcourt Brace.This text will form the core reading for most topics.Supplementary ReadingThe following textbooks on investments, security analysis and finance are recommended forsupplementary reading:Brealey, R.A. and S.C. Myers (1996). Principles of Corporate Finance. 5th ed., McGraw-Hill.Chew, D.H. (1993). The New Corporate Finance: Where Theory Meets Practice, Mc-Graw-Hill.Copeland, T.E. and J.F. Weston (1988). Financial Theory and Corporate Policy. 3rd ed., Addison-Wesley.Elton, M.J. and M.J. Gruber (1995). Modern Portfolio Theory and Investment Analysis, 5th ed., New York: John Wiley & Sons.Haugen, R.A. (1997). Modern Investment Theory, 4th ed. New Jersey: Prentice Hall.Peirson, G; R. Howard; S. Easton; and P. Howard (1998). Business Finance, 7th ed. Sydney: McGraw-Hill.Reilly, F.K. and K.C. Brown (1997). Investment Analysis and Porfolio Management, 5th ed., Fort Worth: The Dryden Press/Harcourt Brace College Publishers.Sharpe, W.F.; G.J. Alexander; and J.V. Bailey (1999). Investments. New Jersey: Prentice Hall.PeriodicalsStudents are encouraged to consult periodicals/journals such as Euromoney, Asiamoney andFinance, Personal Investment, The Economist, Business Review Weekly, Journal of Finance,Journal of Portfolio Management, Journal of Applied Corporate Finance, Accounting andFinance, among others.
    • School of Accounting, Banking and Finance 7S2/99- 06 July1999WEEKLY SCHEDULE AND READING GUIDE Week Topic Readings 1 Brailsford and Heaney, Ch. 119-23 July The Investment Setting 2 Brailsford and Heaney, Chs.26-30 July Securities Markets and Indicators 2, 3 and 4 3 2-6 Aug Portfolio Theory Brailsford and Heaney, Ch. 5 4 Brailsford and Heaney, Chs. 9-13 Aug Asset Pricing Models 6 and 7 516-20 Aug Fundamentals of Stock Valuation Brailsford and Heaney, Ch. 8 6 Brailsford and Heaney, Chs.23-27 Aug Three-Step/Top-Down Analysis 9, 10 and 11 7 Mid-Semester Examination30 Aug-3 Sep (no lecture and tutorials this week) Covers topics 1 to 5 8 6-10 Sep Applications in Market Efficiency Brailsford and Heaney, Ch. 13 9 Brailsford and Heaney, Chs.13-17 Sep Fundamentals of Bills and Bonds 14 and 15 10 Brailsford and Heaney, Ch.20-24 Sep Bond Portfolio Management 1627 Sept-1 Oct Mid-semester break 11 Brailsford and Heaney, Chs. 4-8 Oct Derivative Securities and Markets 17 and 18 1211-15 Oct Portfolio Management and Performance Brailsford and Heaney, Ch. 21 13 Copeland and Weston, Chs. 18-22 Financing Decision: Capital Structure 13 and 14; Brealey and October Myers, Chs. 17 and 18 14 Copeland and Weston, Chs.25-29Oct Financing Decision: Dividend Policy 15 and 16; Brealey and Myers,Ch. 16
    • School of Accounting, Banking and Finance 8S2/99- 06 July1999TUTORIAL EXERCISESBelow are questions assigned for each tutorial session. Students are expected to work onanswering these before coming to each tutorial session. Answers will be discussed during thetutorial session and students are expected to participate in the discussion. Because of timelimitation, it is not always the case that all the assigned questions can be discussed during thetutorial. Students, however, should still study those assigned questions which have not beendiscussed in the tutorial.Please remember that the tutor will collect answers in four randomly selected (not to beannounced) tutorial sessions. These answers will be marked which would have a weight of 10%of the total grade.Tutorial 1 Week 2: 26-30 July Investment SettingQuestion 1.1: Brailsford and Heaney, p. 33, Problem 2.Question 1.2: Brailsford and Heaney, p. 33, Problem 3.Question 1.3: Brailsford and Heaney, p. 33, Problem 5.Question 1.4: Brailsford and Heaney, p. 34, Problem 8.Question 1.5: Brailsford and Heaney, p. 34, Problem 10.Question 1.6: Brailsford and Heaney, p. 35, Problems 11, 12, 13, & 14.Tutorial 2 Week 3: 2-6 August Securities Markets and IndicatorsQuestion 2.1: Brailsford and Heaney, p. 72, Problem 3.Question 2.2: Brailsford and Heaney, p. 72, Problem 4.Question 2.3: Brailsford and Heaney, p. 72, Problem 19.Question 2.4: Brailsford and Heaney, p. 72, Problem 21.Question 2.5: Brailsford and Heaney, p. 113, Problem 4.Question 2.6: Brailsford and Heaney, p. 113, Problem 9.Question 2.7: Brailsford and Heaney, p. 114, Problem 10.Question 2.8: Brailsford and Heaney, p. 141, Problem 6.Tutorial 3 Week 4: 9-13 August Portfolio TheoryQuestion 3.1: Brailsford and Heaney, p. 181, Problem 1.Question 3.2: Brailsford and Heaney, p. 181, Problem 10.Question 3.3: Brailsford and Heaney, p. 181, Problem 14.Question 3.4: Brailsford and Heaney, p. 182, Problems 20 and 21.Tutorial 4 Week 5: 16-20 August Asset Pricing ModelsQuestion 4.1: Brailsford and Heaney, p. 230, Problem 1.Question 4.2: Brailsford and Heaney, p. 233, Problems 29.Question 4.3: Brailsford and Heaney, p. 233, Problems 31.Question 4.4: Brailsford and Heaney, p. 263, Problem 6.Question 4.5: Brailsford and Heaney, p. 263, Problem 14 and Problem 15 (optional).
    • School of Accounting, Banking and Finance 9S2/99- 06 July1999Tutorial 5 Week 7: 30 August-3 September Fundamentals of Stock ValuationQuestion 5.1: Brailsford and Heaney, p. 307, Problem 1.Question 5.2: Brailsford and Heaney, p. 307, Problems 3, 4 and 5.Question 5.3: Brailsford and Heaney, p. 308, Problem 16.Question 5.4: Brailsford and Heaney, p. 309, Problem 19.Tutorial 6 Week 8: 6-10 September Three-Step/Top-Down AnalysisQuestion 6.1: Brailsford and Heaney, p. 343, Problem 7.Question 6.2: Brailsford and Heaney, p. 343, Problem 11.Question 6.3: Brailsford and Heaney, p. 367, Problem 7.Question 6.4: Brailsford and Heaney, p. 367, Problem 12.Question 6.5: Brailsford and Heaney, p. 398, Problem 2.Question 6.6: Brailsford and Heaney, p. 399, Problem 5.Question 6.7: Brailsford and Heaney, p. 399, Problem 10.Tutorial 7 Week 9: 13-17 September Applications in Market EfficiencyQuestion 7.1: Brailsford and Heaney, p. 521, Problem 5.Question 7.2: Brailsford and Heaney, p. 521, Problem 6.Question 7.3: Brailsford and Heaney, p. 522, Problem 9.Question 7.4: Brailsford and Heaney, p. 522, Problem 13.Question 7.5: Brailsford and Heaney, p. 523, Problem 17.Question 7.6: Brailsford and Heaney, p. 524, Problem 28.Tutorial 8 Week 10: 20-24 September Fundamentals of Bills and BondsQuestion 8.1: Brailsford and Heaney, p. 576, Problems 6,7, & 8 and p. 578, Problem 20.Question 8.2: Brailsford and Heaney, p. 577, Problem 14.Question 8.3: Brailsford and Heaney, p. 608, Problem 4.Question 8.4: Brailsford and Heaney, p. 609, Problem 15.Question 8.5: Brailsford and Heaney, p. 609, Problem 16.Tutorial 9 Week 11: 4-8 October Bond Portfolio ManagementQuestion 9.1: Brailsford and Heaney, p. 637, Problem 10.Question 9.2: Brailsford and Heaney, p. 637, Problem 12.Question 9.3: Brailsford and Heaney, p. 638, Problem 14.Question 9.4: Brailsford and Heaney, p. 638, Problem 15.Question 9.5: Brailsford and Heaney, p.638, Problem 16.Tutorial 10 Week 12: 11-15 October Derivative Securities and MarketsQuestion 10.1: Brailsford and Heaney, p. 671, Problem 9.Question 10.2: Brailsford and Heaney, p. 671, Problem 10.Question 10.3: Brailsford and Heaney, p. 672, Problem 11.Question 10.4: Brailsford and Heaney, p. 726, Problem 22.Question 10.5: Brailsford and Heaney, p. 726, Problem 26 (a) and (c).Question 10.6: Brailsford and Heaney, p. 727, Problem 30.
    • School of Accounting, Banking and Finance 10S2/99- 06 July1999Tutorial 11 Week 13: 18-22 October Portfolio Management and PerformanceQuestion 11.1: Brailsford and Heaney, p. 824, Problems 4 and 5.Question 11.2: Brailsford and Heaney, p. 824, Problem 9 and p. 825, Problem 10.Question 11.3: Brailsford and Heaney, p. 826, Problem 13.Tutorial 12 Week 14: 18-22 October Financing Decision: Capital StructureQuestion 12.1During recent years, your company has made considerable use of debt financing, to the extentthat it is generally agreed that the percentage of debt in the firm’s capital structure (either in bookor market value terms) is too high. Further use of debt will likely lead to a drop in the firm’sbond rating. You would like to recommend that that the next major capital investment befinanced with a new equity issue. Unfortunately, the firm has not been doing very well recently(nor has the market). In fact, the rate of return on investment has been just equal to the cost ofcapital. As shown in the financial statement in Table 12.1, the market value of the firm’s equityis less than its book value. This means that even a profitable project will decrease earnings pershare if it is financed with new equity. For example, the firm is considering a project that costs$400 but has a value of $500 (i.e. an NPV of $100), and that will increase total earnings by $60per year. If it is financed with equity, the $400 will require approximately 200 shares, thusbringing the total shares outstanding to 1200. The new earnings will be $660, and earnings pershare will fall to $0.55. The president of the firm argues that the project should be delayed forthree reasons.(a) It is too expensive for the firm to issue new debt.(b) Financing the project with new equity will reduce earnings per share because the market value of equity is less than book value.(c) Equity markets are currently depressed. If the firm waits until the market index improves, the market value of equity will exceed the book value and equity financing will no longer reduce earnings per share.Required: Critique the president’s logic. Table 12.1 Balance Sheet as of December 31, 19xx Assets LiabilitiesShort-term assets 2,000 Debt 6,000Plant and equipment 8,000 Equity 4,000 10,000 10,000Total market value of equity 2,000Number of shares outstanding 1,000Price per share 2Total earnings for the year 19xx 600Earnings per share 0.60
    • School of Accounting, Banking and Finance 11S2/99- 06 July1999Question 12.2Two firms, U and L, are identical except for their capital structure. Both will earn $150 in aboom and $50 in a slump. There is a 50 percent chance of each event. U is entirely equity-financed, and therefore shareholders receive the entire income. Its shares are valued at $500. Lhas issued $400 of risk-free debt at an interest rate of 10 percent, and therefore $40 of L’s incomeis paid out as interest. There are no taxes or other imperfections. Investors can borrow and lendat the risk-free rate of interest. Within the context of the Miller-Modigliani theorem, answer thefollowing:(a) What is the value of L’s stock?(b) Suppose that you invest $20 in U’s stock. Is there an alternative investment in L that would give identical payoffs in boom and slump? What is the expected payoff from such strategy?(c) Now suppose that you invest in $20 in L’s stock. Design an alternative strategy with identical payoffs.Question 12.3Comment on the following statements:(a) Under imputation, the Australian tax system is neutral in the sense that there is no bias towards the use of either debt or equity.(b) Costs of financial distress will be borne entirely by lenders.
    • School of Accounting, Banking and Finance 12S2/99- 06 July1999APPENDIX ONEABF3004 Advanced Finance and Semester 2, 1999 Security AnalysisRESOURCE DOCUMENTThe following resource statement is made for the subjects’ offering by the School of Accounting,Banking and Finance on the Nathan campus.Is the subject manageable within existing staff resources? Yes. Existing subject.Is the offering dependent on additional staff resources? No. What additional resources are required? Nil.If the subject is being revised, are the changes resource neutral? Yes. The only significant changes to the subject outline are in relation to the method of assessment. As can be seen in the table below, there are now more assessment items. This is meant to provide students more feedback on their performance. Weights Assessment Item Old subject outline Revised Subject OutlineMid-Semester Examination 30% 25%Final Examination 70% 50%Tutorial Exercises 0% 10%Semester Paper/Project 0% 15%SUBJECT APPROVALThe subject has been reviewed, and all changes have been indicated.______________________________Subject Convenor dateThe changes to the subject outline, and the resource documentation are approved/ not approved.______________________________Head of School dateThe changes to the subject outline, and the resource documentation are approved/ not approved_____________________________Dean, Faculty of CAM date
    • School of Accounting, Banking and Finance 13S2/99- 06 July1999SEMESTER PAPER/PROJECT TOPICSBelow are suggested semester paper/project topics. You may work on a topic outside of this listbut you will have to get this approved by a member of the teaching team no later than Week 3 ofthe semester (fill out the topic approval form and have this signed by a member of the teachingteam).• Investing through the internet. Identify major websites in which investment can be done focusing on the Australian scene; provide a brief description of each; then evaluate the usefulness of 3 of these sites within the context of theories and concepts learned or to be learned in the subject; gather the opinions of experts and/or major users of each site and then put in your own opinion.• Investment and portfolio analysis softwares. Make a survey of the major investment softwares which are available and how they can be obtained; briefly comment on the usefulness of each; finally, demonstrate the use of one software based on actual data and analyse the results within the context of theories and concepts learned or to be learned in the subject..• Evaluation of the performance of a major fund based in Australia. Select a fund, explain why you think this is to be considered a major fund and then evaluate its performance based on theories, concepts and techniques learned or to be learned in the subject; cite major studies, here in Australia as well as overseas, which have evaluated funds and discuss how your study is similar or different to these previous studies.• Share repurchases in Australia. Investigate share repurchases in Australia within the context of the efficient market hypothesis. Use an event study methodology to determine the effect of share price repurchases on the share price of those companies which have been involved in this activity.• The relationship between technological and financial performance Investigate the relationship between technology and financial performance in a certain industry or industries in Australia. Is it the case that as an industry becomes more technologically advanced, its financial performance also improves? Why? Would you recommend investing in industries which show technological progress?
    • School of Accounting, Banking and Finance 14S2/99- 06 July1999 Griffith University Faculty of Commerce and Management School of Accounting, Banking and Finance ABF3004 Advanced Finance and Security Analysis TOPIC APPROVAL FORM*Name of Student ________________________________________________________Student Number ____________________________________Signature _______________________________ Date _________________________Proposed Topic or Title of Paper or Project________________________________________________________________________________________________________________________________________________________________________________________________________________________Specific issues or problems to be studied or investigated________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Reasons for Choice of Topic (or Importance of the Topic)________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Approved by:Name and Signature _______________________________________________________Date _________________________
    • School of Accounting, Banking and Finance 15S2/99- 06 July1999*This form must be submitted no later than Week 3 of the Semester.
    • School of Accounting, Banking and Finance 16S2/99- 06 July1999 GRIFFITH UNIVERSITY Faculty of Commerce and Management School of Accounting, Banking and Finance Paper/Project Submission Form (Note: The research or project paper should be submitted together with this form) Subject Code: ______________ Subject Title: ________________________________________________ Name of Student: _____________________________________________ Student Number: __________________________ Title of Paper/Project: __________________________________________ ____________________________________________________________ Total number of pages: _____________________ Statement of Originality: “I declare, to the best of my knowledge and belief that this paper contains no material previously published or written by another person except where due reference is made in the paper itself” Signature of Student: ________________________________________ Date: ________________________________