Applied Corporate Finance
Applied Corporate Finance The final project will be an evaluation of Prada’s IPO. A case study for this transaction is available on Moodle···
Instructions for the Final Project
Topic Applied Corporate Finance
The final project will be an evaluation of Prada’s IPO. A case study for this transaction is available on Moodle.
There will be three components to the case:
1) Following the projections and recommendations of analyst(s) cited in the case study, what would be the analysts’ expected stock price of Prada at the time of its IPO?
2) Please prepare your own analysis of Prada’s stock price and expected growth at the time of IPO, as if you were an analyst preparing a report before the IPO takes place. You may use historical information in the case or any other information from outside sources at the time, in order to prepare your evaluation. You may also use multiple methods, such as DCF analysis or price multiples such as P/E ratios.
3) Looking back on your forecasts, please describe how well your forecasts compare with Prada’s realized performance. For example, what factors were you unable to predict? What factors were you able to forecast with accuracy?
Please remember that what matters most is not whether your answer is “right” or “wrong”; what matters is how cogent your analysis is. That is, markings will primarily be determined by how well you state and justify your assumptions, how well your analysis and conclusions follow from your assumptions, and how insightful you are in your assessment of how your forecasts compare to Prada’s realized performance.
Structure Applied Corporate Finance
The structure of the project should correspond to the following format:
1) Executive Summary: Please describe what analysis you conduct, and report your main findings.
2) Background: Please describe the background of Prada, the motivations to do an IPO, and a description of how Prada compares to other firms in the fashion industry.
Department of Finance
Department of Finance
3) Analysis: Please provide analysis of the three case components described above. Please include clear tables and figures where appropriate, along with citations for where you obtained the data used in your analysis.
4) Conclusion: Describe your main findings and the most important new insights from your analysis.
Length
The target length of the project is around 3,000 words of core text, not counting tables, figures, and references; the maximum length is 4,000 words. Projects that go above the word limit will be accepted, but please try not to exceed 4,000 words. There is no minimum number of words; projects will not be penalized for being too short—what matters is the substance.
Marking criteria
For projects to receive marks in a certain range, projects must fulfill all of the criteria below (as per LSE guidelines):
- 80 or above: Unique and rare projects of exceptional quality. Concise and relevant presentation of facts. Exceptionally insightful analysis. Truly original insights. Demonstrates full proficiency in collecting and analyzing data. Uses several ideas discussed in class and introduces new ones.
- 70-79: Outstanding projects with concise and relevant presentation of facts. Insightful analysis. Somewhat original insights. Demonstrates full proficiency in collecting and analysing data. Uses several ideas discussed in class.
- 60-69: Very good projects, with very few weaknesses. Analysis mostly correct and insightful, perhaps with a few questionable conclusions. Demonstrates full proficiency in collecting and analysing data. Choice of topics that are mostly related to the course. Uses some ideas discussed in class. Well written.
- 40-59: Good projects with few weaknesses. Analysis mostly correct but with a few questionable conclusions. Uses at least one important idea discussed in class.
Projects that fail to receive a passing mark (39 or less) must have at least one of the following fundamental flaws: Applied Corporate Finance
- Very poor analysis; mostly incorrect conclusions.
- No relation whatsoever with topics discuss in class.
- Demonstrates poor command of finance concepts related to the course.
- Little evidence of background research; poor presentation of facts and data.
- Extremely hard/difficult to read/understand.
- Lacks originality; there is evidence of plagiarism or insufficient attribution.
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