Select any listed global company which you would like to study. Obtain the manager’s report, financial report, and any other information related to the company from Factset. • Define the nature of your firm (5 marks) – Use pre-existing firm data – Explain Core business – What international operations exist? • Investigate the source of finance for the most recent 5 years (10 marks) – How was capital raised and where in which currency? ( Stocks, Bonds, Venture Capital…) – Check company history, news articles, recent financial statement to find what kind of financial instruments are used – If possible, try to obtain details of the IPO or any SEOs – What is the capital structure of the company? – Explain which (if any) theories the capital structure is consistent with. • Summarize the payout history for the most recent 5 years (10 marks) – What kind of payout schemes did the company use? ? Stock repurchase, stock dividend, cash dividend… – Explain which (if any) theories the payout policy is consistent with. • As the CFO of this company, would you like to make changes? (5 marks) – Recommend change to the payout scheme – Recommend change to the capital structure – To answer this question you should discuss whether or not you would change either or these policies but, most importantly, justify why you are arguing that either policy should change or stay the same.