Group PresentationsEach student is expected to participate to a group presentation that will take…

Group PresentationsEach student is expected to participate to a group presentation that will take place on Wednesday and Thursday morning.• Presentations will be done by groups of 2 (the larger the group the higher the expectations…)• Proposed themes of the presentation:1. Analyse and compare the capital structure of 2 or 3 companies2. Present a case related to significant changes of capital structure3. Summarize an article from the list to be provided during the course• 15 min presentation followed by a question time:Presentations – Themes1. Analyse the capital structure and the related financial parameters of 2 or 3 companies: – That share similarities (country of incorporation, sector of activity, size, …)– That have differences in capital structure management (degree of leverage, type of debts, dividend policy, …)Work out the firm cost of debt, cost of equity and WACC.What is your view on the leverage position of the analysed companies?3. Present a case related to significant changes of capital structure of a firm linked to a transaction or significant change:• Leveraged buy-out (LBO) transaction• Acquisition• Merger• Strategic reorientation: change of business model, change of geographic market, …NB1 : Cases analyzed during other courses are most welcome as long as the presentation focuses on capital structure and financial leverage aspects.Suggestions of capital structure comparison :•Coca Cola vs Pepsi Co•Total (or Royal Dutch) versus Exxon•Google (GOOG US Equity) versus Microsoft (MSFT US Equity)•LVMH (MC FP Equity) versus Hermes (RMS FP Equity)•Santander acquisition of ABN Amro businesses•LBO : Tata Tea acquisition of Tetley
•LBO : KKR acquisition of Pages Jaunes•LBO : TPG (+ AXA Invest) acquisition of TDF (Telecom)•LBO : KKR acquisition of RJR Nabisco (one of the most famous deal)3. Critically discuss an article from the list provided on the site and presents the links: – With the course, the theory and the examples proposed (even those not in the slides) – Possibly, with another work you did/do elsewhere and where capital structure might be relevant.When reading discussing the paper think of the following:1. Identify the main research question(s) of the paper.2. Discuss the methodology employed by the author(s).3. Discuss what sources of data were employed for the empirical analysis.4. Summarise the main findings. Are they in agreement with the general theory or commonknowledge? Discuss.5. What are the main strengths and/or weaknesses of the paper?