Fin 665 final project guidelines and grading guide

1. FIN 665: Final Project Guidelines and Grading Guide
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FIN 665: Final Project Guidelines and Grading Guide
The final project for this course is the creation of an Individual Case Analysis. The primaryobjective of this project
is for students to understand how to analyze the capital structure of a company.Students will also improve their
understanding ofsome basic forms ofdebtfinancing and learn to formulate strategies in structuring debtfinancing.
The case will also expose students to the process ofdebt rating and its importance.Because ofits international
setting,the case provides an excellent opportunity for students to obtain an understanding ofinternational capital
markets and offshore offerings.Students will applythe case method described in this document.They will define the
problem,build an analysis separating the importantfacts from the peripheral data,develop alternative courses of
action citing advantages and disadvantages,and make final recommendations on policies thatwill maximize value for
the business.
Main Elements
Case Method
The case method is an importanttool in educating managers byallowing students to bring to life conceptual material
that is often difficult to understand withoutapplication,and aiding in integrating tools and theories students have
learned by applying them to relevant managementdecisions.
The cases used in this course are a record of issues and problems actuallyfaced by business executives,with
supporting facts,opinions,and financial data that decisions were based on.These real-life situations are summarized
by case writers who provide you with all of the relevant information thatwas available to the decision makers
involved. If the information presented seems incomplete,remember thatthis only mirrors the business world realityof
decision making with limited information.Obtaining more information costs time and money,resources thatare
scarce in mostsituations.
Each case,like each managementsituation,is unique.Since there is no one bestprocedure for solving problems or
making decisions,there are no right or wrong answers in case analysis.Each class member will approach the case in
a different manner.However,the following procedure can serve as a rough guide to your analysis which can be fine -
tuned to personal preferences.
Procedure
1. Read the Case. The first step is to get acquainted with the situation.Read through the case quickly, getting a general
feel for what is going on.Who are the main players? What types of information are available to you? Go back and
reread the case carefully, paying particular attention to case facts, figures,and diagrams.Be careful to separate
symptoms and problems.Case writers will often flag importantissues byitalics,headings,or questions atthe end of
the case.
1. Define the Problem. Put yourself in the place of the decision makers in the case (managers,investors,debtholders,
banks,employees,etc.).What are the critical issues? Does one problem stand outas primary,with other problems
secondaryor contingentupon it? Establish a time dimension to the problems;which problems demand immediate

2. action, and which are long-term or strategic in nature? What critical assumptions are being made by the decision
makers in the case,and how do these assumptions influence their chosen strategies? Try to state the problems soas
to identify (a) who musttake action, (b) why action mustbe taken, and (c) when should action be taken.
1. Build your Analysis. Gather the importantfacts and concepts in the case,and discard unimportantor fringe issues
and data. Build a theme for your analysis,and establish the importance ofthe problems you have identified.
Incorporate your knowledge ofcultural impacton the situation,financial analysis,accounting techniques,marketing
methods,economics,and human behavior into your analysis.Puttheory to work in your paper, by using concepts
from the readings and module overviews to analyze the problems and issues and explain why they require responses
by management.
2. Develop Alternatives. Examine the alternative courses ofaction that are available to the firm. Make a listof the
advantages and disadvantages ofeach.Don’tuse “straw-man” alternatives (those thatare patently unfeasible or
undesirable).Develop a few well-reasoned responses thatcould solve the problems,and criticallyevaluate them.
1. Make a Recommendation. Based on your analysis ofalternative courses ofaction, choose the bestand recommend
course of action.Be specific in your statements.How will your recommendation be implemented? Circle back through
the case to identify possible points ofinconsistencybetween your recommendation and case facts.What potential
problems mightcrop up? How will internal constituencies (e.g.,management,employees) and external constituencies
(e.g., competitors,stockholders) react,and how will you handle their responses? Whatassumptions have you made
in developing your recommendation?
Please review Writing and Revising/ Editing the Case Analysis for additional information on structuring a case
analysis.
Deliverable: Case Write-Up
The write-up mustinclude the following items:
 Title page containing case name and date
 Brief summaryof the business situation in the case
 Identification of problems or issues
 Analysis of the problems or issues including the nature of the problems,causes ofthe problems,constraints,and
related theories (framework for your analysis)
 Listof alternatives for solving problems,including pros and cons ofeach alternative
 Your recommended alternative and clear reasoning for you decision
 Supporting spreadsheets or charts
 References
Read this Example of Case Analysis Writing for an example of a case analysis reportfrom Ashford University.
Since mostcases used in the class require a composite ofcareful thinking,conceptualization,quantitative analysis,
and some form of decision making,your comments will be evaluated based on breadth and depth of your thought
process demonstrated in your discussion.While you should putthe problem in a context, you should notmerely
repeatcase facts. You will get credit for only meaningful and high qualityanalysis.
Hutchison Whampoa Limited: The Capital Structure Decision
Obtain the Hutchison Whampoa Case from Harvard Business Publishing Coursepack.After reading the case,you are
expected to submita preliminarycase analysis report(progress report) atthe end of Module Five and a final case

3. analysis reportat the end of Module Ten. You are highly encouraged to utilize the Individual Case Analysis Questions
forum to help you with this task.To help you with the analysis ofthis case,below are suggested questions for you to
discuss on when analyzing it. Note that while these questions are helpful,your reports should notbe written to
answer these questions butto provide a full analysis ofthe case.
Suggested Questions
1. What kind of capital structure would you propose to Hutchison Whampoa in lightof its future needs and why?
2. What bond rating do you think Hutchison Whampoa will be able to obtain from Standard and Poor’s?
3. What are the debt financing options? Whyyou are for/againstthe Yankee bond option?
4. Assume Hutchison Whampoa will require $1 million USD offinancing in 1996. Assume thatnew equity can be raised
at $48.8 a share and that a long-term debtissue will carryan interestcostof HIBOR plus 70 basis points (bps).How
would an equity or debtissue impactHutchison’s financial position and performance?
Format
In 8-4 Final Project: Milestone Two: you will submita rough draft. The draft should contain the work from the
progress report,reflecting the incorporation ofthe previous feedback.In addition,the identification and the evaluation
of alternatives for solving problems as well as the recommended courses ofaction should be included in this rough
draft. Be sure to provide convincing arguments,supporting information,and spreadsheetanalysis to supportyour
views and recommendations.The draft should be 8–10 pages,notincluding tables,charts,and references.
Final Project Rubric
Requirements of submission: Written components ofprojects mustfollow these formatting guidelines when
applicable:double spacing,12-pointTimes New Roman font,one-inch margins,and APA-style citations.Your case
write-ups should be approximately8-10 pages long including charts and figures.
Instructor Feedback: Students can find their feedback in the grade book as an attachment.
Critical Elements Exemplary Proficient Needs Improvement Not Evident
Identification of
the Main Issues/
Problems
Demonstrates a clear and deep
understanding ofmain
issues/problems in the case
study
(18-20)
Demonstrates deep
understanding ofmain
issues/problems in the case
study
(16-17)
Demonstrates limited
understanding ofmain
issues/problems in the case
study
(14-15)
Demonstrate
understandin
issues/proble
study
(0-13)
Analysis of the
Issues/Problems
Makes appropriate,insightful,
and powerful connections
between the issues/problems
and the theory. Relevant
financial analysis is applied
properly
(18-20)
Makes appropriate and insightful
connections between the
issues/problems and the theory.
Relevant financial analysis is
applied
(16-17)
Makes appropriate but
somewhatvague connections
between the issues/problems
and the theory. Inadequate
financial analysis is applied
(14-15)
Makes little o
between the
and the theor
financial ana
(0-13)

4. Identification and
Evaluation of
Alternatives
Identifies a comprehensive set
of thoughtful alternatives.Pros
and cons for alternatives are
provided. Arguments are
convincing,supported,and
comprehensive
(18-20)
Identifies majorityof alternatives.
Pros and cons for alternatives
are provided.Most of the
arguments are convincing and
supported.
May be missing a few pros
and/or cons
(16-17)
Identifies few alternatives.
Pros and cons for alternatives
are provided.Arguments,
however, are insufficiently
convincing and supported
(14-15)
Identifies few
alternatives.
significantdi
alternative pr
(0-13)
Recommendations
Makes realistic,appropriate,
and insightful recommendations
clearly supported by the
information presented and the
theory from the chapter
(18-20)
Makes realistic and appropriate
recommendations clearly
supported by the information
presented and the theory from
the chapter
(16-17)
Makes realistic or appropriate
recommendations supported
by the information presented
and the theory from the
chapter
(14-15)
Makes realis
recommenda
supportfrom
presented an
the chapter
(0-13)
Writing
(Mechanics/Citations)
Writing demonstrates
sophisticated clarity,
conciseness,and correctness;
includes thorough details and
relevant data and information;
extremely well-organized.Uses
APA guidelines accuratelyand
consistentlyto cite sources
(18-20)
Writing is accomplished in terms
of clarity and conciseness and
contains onlya few errors;
includes sufficientdetails and
relevant data and information;
well-organized.Uses APA
guidelines with minor violations
to cite sources
(16-17)
Writing lacks clarity or
conciseness and contains
numerous errors;gives
insufficientdetail and relevant
data and information;lacks
organization.Reflects
incomplete knowledge ofAPA
guidelines
(14-15)
Writing is unf
or contains s
detail and rel
information;p
Does notuse
(0-13)
Total:
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