Equity Markets Valuation And Analysis Wiley Finance 1st Edition Greg Filbeck, H. Kent Baker, Halil Kiymaz - Solutions

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What is meant by the term ‘pools of thought’? How might the ‘pools of thought’ idea influence general change postures such as the ad lib or adapt options?
TQM, Six Sigma and other high-profile popular business systems are widely considered to be management fads. If they are fads, then why are they still going strong as powerful brands?
Popular change disciplines are also, by definition, change brands. Are these mainstream disciplines popular because they are strong brands, or for other reasons?
What is the role of context in choosing approaches to change? How might a better understanding of internal and external context inform the challenge of choosing whether or how to change the current change approach?
What is bounded rationality? How do the assumptions under the rational decision-making model and bounded rationality differ? What are the major differences between the planned and the emergent schools of thought?
The downsizing approach adopted by ConsultBiz was aggressive, highly directive and dismissive of the need for any contextual insights into ServiceCo. What are some of the likely implications and future impacts of this approach on the fully merged business?
ServiceCo’s initial approach to change appeared to be a rational choice, but it did not meet the needs of its most important stakeholders. Discuss the failings of the change team. To what extent was it a poor choice, bad timing or just badly handled?
The initial contextual/issue-driven change approach adopted by the ServiceCo change team was participative and affirming of staff perceptions, needs and concerns. What are the advantages and disadvantages of participative/highengagement approaches to change?
How would you characterise the two approaches to change in terms of schools of thought, brands or popular methodologies? For each, consider whether it was a case of adoption, adherence, adaptation or simply ad hoc.
learn how to best tackle immediate and ongoing change challenges.
understand different change models and approaches
discover the inescapable choices for change within organisations
Why is double-loop learning a critical competency to enable organisations to adapt?
What are the key elements of Lewin’s force field analysis model? Why is it considered to be very ‘practical’ theory?
How does analysing culture using the ‘cultural web’ approach provide valuable insights? What might be learned using this diagnostic tool?
Under what circumstances is a differentiated culture a positive or adaptive response that better serves an organisation?
What are the characteristics of a strong culture? Why are strong cultures not necessarily better?
What style of learning (single- or double-loop) do you regard as necessary for the next stage of development in this case?
What factors have influenced the outcomes to this point?
Do you think the effort to change culture has been a success? What are the characteristics of change that support your view?
Do you see the culture as integrated, differentiated or fragmented?
Construct a cultural web for Sanitarium.
consider the context of culture in an organisation.
understand the forces behind resistance to change
explore an approach to analysing culture using Gerry Johnson’s ‘cultural web’as a diagnostic tool
examine cultural typologies: strong, weak, integrated, differentiated and fragmented cultures
consider culture as a focus area and force for (or against) change
What were the benefits of developing a desired ‘end state’ stakeholder map in addition to the initial stakeholder map at Betta imports?
Review Mini-case: Betta Import Export. What were the critical first steps for the senior managers at Betta Imports towards increasing their influence on setting marketing strategy?
Is it unethical to seek to influence stakeholder decision-making in covert or hidden ways? Discuss.
How do prescriptive dynamics provide insights into dealing with stakeholder issues through change?
What are the two key axes that provide insights into the positioning of any given stakeholder group?
What might be some of the risks of failing to analyse stakeholders in a change situation?
What is stakeholder mapping?
Would Microsoft gain a useful advantage by taking Nokia over?What reaction might they expect from stakeholders to such a move?
From a stakeholder/influence perspective, what advantages do Nokia and Microsoft gain by collaborating?
Construct a stakeholder map from the point of view of Nokia before the collaboration with Microsoft was established.
explore an approach to mapping stakeholders to identify potential dynamics and implications.
introduce the concepts of stakeholders and influence
How might an organisation’s vitality reveal itself to key external stakeholders, such as customers and suppliers? What difference might it make for them?
What sorts of measures might be taken to revitalise an organisation with low vitality?
‘Vitality is just an aspect of organisational culture.’ Discuss and explain whether you agree or disagree.
In what ways might high organisational vitality be an advantage for an organisational change?
What are the key characteristics of a work unit that demonstrates vitality?
investigate the concept of vitality as an organisational process.
explore the ways in which our experience of change in organisations can shape our sense of engagement
explain the relationship between individual vitality and organisational engagement
Assume a stock is priced at $100; calculate its intrinsic value based on the Gordon growth DDM, with the following assumptions: D0 = $3, g = 6 percent, and k = 10 percent. Indicate whether investors should buy, hold, or sell the stock. Indicate your recommendation if g = 7 percent.
Compare and contrast depositary receipts and cross-listed stocks.
Discuss the benefits and drawbacks for investors in tracking stocks.
Explain the three types of dual-listed company structures.
Identify what motivates companies to offer dual-class equity structures.
Explain at least two ways to classify financial markets.
Discuss why the equity market is important to the economy.
Define and differentiate between at least two of the equity market indices used as market indicators.
Explain the difference between liquidity and marketability for a financial market.
Define financial market efficiency.
Define and differentiate among the weak form, semi-strong form, and strong form levels of market efficiency.
Explain the nature and function of trading rules on stock exchanges.
Differentiate between trading rules and surveillance.
Identify the criticisms and benefits of securities regulation.
Discuss how trading rules differ across countries.
Discuss how trading rules and surveillance affect firm outcomes such as M&As and innovation.
Discuss three conditions needed for market inefficiency and whether bounded rationality may address these conditions.
List three different effects that relate to PT and how each effect can cause investors to make irrational decisions.
List three violations of the weak form EMH and explain how they differ.
List three announcement-related violations of the semi-strong form EMH and explain how they differ.
Explain the difference between forecasting based on technical analysis and fundamental analysis.
Discuss whether security analysts typically use information in financial statements in making their forecasts.
Discuss how analysts can use financial statements to improve their forecasts.
Discuss the limitations of using financial statements for purposes of forecasting and how forecasters can overcome such limitations.
Discuss whether technical and fundamental analysis can be combined to achieve superior forecasting.
Describe the major categories of equity valuation models and discuss the pros and cons of each.
Explain the rationale for using price multiples to value equity, how the P/E and P/B multiples relate to fundamentals, and using multiples based on comparable firms.
Explain why FCFF is discounted at the WACC.
Explain the main limitation of the P/E ratio.
Describe the three steps linking business activities to equity prices.
Discuss why the analysis of a company’s accounting policies is an important part of company analysis.
Explain how risk, economic rents, and accounting distortions affect ROA.
Discuss how ROA relates to ROE.
Discuss the philosophical link between technical and fundamental investment strategies.
Explain the importance of properly defining the market’s primary trend as a first step toward building a portfolio.
Identify the three phases that both primary bull and bear markets undergo and explain how changing economic and fundamental trends and investors’ behaviorally biased perceptions of them are driving forces.
Discuss the similarities and differences between trend following and crosssectional momentum strategies.
Discuss the advantages and limitations of the Gordon model.
Explain the life-cycle stages followed by firms constituting the basis of multistage DDMs.
Identify in which company types the classical two-stage DDM is likely to work best to estimate common stock value.
Explain the basic features of stochastic DDMs and compare them to traditional constant growth and multistage models.
Discuss the uses of DDMs.
Articulate the advantages and disadvantages of FCF valuation analysis relative to DDM analysis.
Define what is meant by FCFF and FCFE.
Explain why growth patterns are important in modeling FCFs.
Discuss the choice of FCF method that would be most suitable for the valuation of: (1) a venture capital investment, (2) a mature manufacturing firm, (3) an acquisition through an LBO, and (4) a commercial bank.
Summarize the alternative uses of a DCF model besides valuing a company.
Give several examples of widely used valuation multiples and discuss how to estimate the target’s value using these multiples.
Identify the main factors proposed in academic research to determine the values of different multiples.
Discuss the major advantages and disadvantages of using the multiple valuation method.
Discuss the main reasons that researchers and practitioners use forecasted values rather than historical values for the value drivers.
Discuss using the harmonic mean as a normalizing method for different multiples drawn from different comparable firms.
Define RI and discuss how to measure it.

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Equity Markets Valuation And Analysis Wiley Finance 1st Edition Greg Filbeck, H. Kent Baker, Halil Kiymaz - Solutions

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