Assessment Brief – Newcastle Business School

Programme: Business with Financial Management/Business Management (Finance Pathway)/

International Banking and Finance/Banking and Finance/ Accounting and
Finance/Combined Business Credits and as applicable.

Module Code: AF6002 ( PE6005 )

Module Title: International Finance and Responsible Financial Management

Distributed on: For immediate release

Submission Time
For 2020/21 academic year
and Date:

Word Limit: Academic Essay of 1500 words supported by 3 blog appendices of no more than 700
words each

Weighting This coursework accounts for 100% of the total mark for this module

Submission of
This module is submitted via Blackboard using Turnitin Submission. You will find
Assessment
a Turnitin link on the module’s eLP site.
It is your responsibility to ensure that your assignment arrives before the submission
deadline stated above. See the University policy on late submission of work (the
relevant extract is set out below).
Please note that assignments are subject to anonymous marking.
 

Instructions on Assessment:

This assessment is made up of an academic essay of 1500 words supported by 3 blog appendices.

Academic Essay – The Impact of the Global Covid-19 Pandemic on Corporate Finance.

(1,500 words excluding Blogs)

The following are extracts from the financial press:

‘Companies around the world – especially those receiving direct assistance from governments – are under
pressure to cut payouts to shareholders and focus on keeping up payments to workers and other
stakeholders.
America’s biggest banks have so far staunchly defended their plans to continue paying dividends, but in his
annual letter to shareholders Mr Dimon said JP Morgan was “not immune” to the coronavirus crisis and is
exposed to “billions of dollars of additional credit losses” as it lends to businesses and individuals in need.’
Some analysts argue that dividend cuts send a bad signal to shareholders making owning shares less
attractive as well as hurting investors who rely on a steady income from stocks, such as pension funds’.

(FT.com ‘Dividend debate divides banking world’, April 6 2020)

Newspaper reports last month that he was in talks to sell Grubhub, his food delivery company, to Uber
immediately caught the attention of Jitse Green, the chief executive of Europe’s largest food ordering app,
Just Eat Takeaway (JET).
In his Amsterdam office, Mr Groen realised that if he wanted JET to be the dominant global player, he had to
stop Uber getting its hands on Grubhub.
“He was very engaged”, Mr Maloney told the financial times. “Very interested to make sure that this asset did
not go to Uber”. Three weeks later, Mr Groen sealed an all-stock deal valuing Grubhub at about $7.3bn.
“I haven’t seen a deal team move that fast, “Mr Maloney said of JET. “They saw the numbers that were in
the press and they went right after it, because they understood the strategic nature of this acquisition for
them”

(FT.com ‘Just Eat Takeaway’s Grubhub deal puts dash for growth back on menu’ June 11, 2020)
Page 1 of 7
Assessment Brief – Newcastle Business School

Requirement
You are, in an academic essay format (70% of marks), required to answer one of the following two tasks.

Task 1: You are to critically evaluate the literature on Dividends and Dividend Policy and making
reference to current examples from the financial press, assess the impact of the Covid-19 pandemic
on the dividend decision of companies. Come to a conclusion as to whether or not dividend policy
has a substantive impact in the creation or destruction of shareholder wealth.

Task 2: You are to come to conclusion, supported by the academic literature, as to the ability of
managers to value companies in the context of the global Covid-19 pandemic and to create
shareholder value by engaging in merger and acquisition activity. You should make reference to
current examples of merger and acquisition activity from the financial press.

Guidance Notes:

o You are expected to use strong and reputable business news sources such as the
Financial Times and Bloomberg to read around and develop your understanding of
the cases you use.
o You may use the companies mentioned in the above extracts as a starting point but
you should widen your research to include other examples to support your
arguments.
o Your answers should focus specifically on the impact of the covid-19 pandemic on
companies. This theme runs through the assessment. Therefore you should use the
academic literature to support your arguments but should not expect to gain
information about the global pandemic from the literature.

Your answers should specifically be written in an academic essay format and not in the format of a
business report. Essays specifically should not include headings, section headings, etc. Your essay should
concentrate particularly ensure that there is considerable flow and cohesion between the paragraphs. It is
advised that you make good use of the writing support materials on the Blackboard site. Specifically all
students will benefit from reading through the following guidance on essay writing:

https://writingcenter.fas.harvard.edu/pages/overview-academic-essay.

Blog Appendices

(30% of Marks; 10 marks per blog)

1. This essay is to be supported by three blog appendices. Students should write blogs to cover topics
related to each of three out of the four syllabus areas covered in the module (creating value, core
concepts of corporate finance, financial investment, financial ethics). Students will receive a
maximum of 10 marks for each Blog post submitted (30 marks total). Blog posts do not have to be
about the pandemic and can be on any contemporary issue. Students are encouraged to complete
blogs throughout the semester although these are submitted during the assessment period.
2.
Each of the three Blog posts should reflect on a real world contemporary issue (please ensure your
blogs are current). Students should demonstrate their ability to apply theory to real world cases and
reflect on what they are being taught in seminars, lectures and through the directed reading relates
to the real world which they are discussing. Good Blog posts would be in-depth, considered, and
displaying a mature ability to analyse, disseminate and discuss. Poor Blog posts are descriptive in
nature and display only a surface appreciation of the issues. The maximum word length is 700
words per blog.

3. It is advised that students use a free Blog service like Google’s Blogger. Students are not restricted
to Blogger and may use any blogging service.

Page 2 of 7
Assessment Brief – Newcastle Business School

4. Students may design their Blog how they wish, however it is requested that they both refrain from
links to unsuitable websites and that they remember the university’s internet usage policy when
posting and designing their blogs.

5. Be creative and don’t view this as a chore or requirement. Try and take time rather than rushing
this. The Blog is marked on depth of reflection and consideration. Remember that deep and
considered blog posts will allow you to evidence more and maximise your “critically assess” and
“critically analyse”

6. Bring in contemporary issues or things happening that week in the news. Use the Blog to display
what you’ve been reading about. Perhaps before blogging have a search through the Financial
Times for that week or have a read of what other top business journalists are talking. Try and make
your blog posts as contemporary and timely as possible to maximise marks. Don’t Blog about
something what happened last year, Blog about things happening now, and things you may want to
talk about in interviews with future employers.

Late submission of work

Where coursework is submitted without approval, after the published hand-in deadline, the following
penalties will apply.

For coursework submitted up to 1 working day (24 hours) after the published hand-in deadline without
approval, 10% of the total marks available for the assessment (i.e.100%) shall be deducted from the
assessment mark.

For clarity: a late piece of work that would have scored 65%, 55% or 45% had it been handed in on time will
be awarded 55%, 45% or 35% respectively as 10% of the total available marks will have been deducted.

The Penalty does not apply to Pass/Fail Modules, i.e. there will be no penalty for late submission if
assessments on Pass/Fail are submitted up to 1 working day (24 hours) after the published hand-in deadline.

Coursework submitted more than 1 working day (24 hours) after the published hand-in deadline without
approval will be regarded as not having been completed. A mark of zero will be awarded for the
assessment and the module will be failed, irrespective of the overall module mark.

For clarity: if the original hand-in time on working day A is 12noon the 24 hour late submission allowance will
end at 12noon on working day B.

These provisions apply to all assessments, including those assessed on a Pass/Fail basis.

Word limits and penalties

If the assignment is within +10% of the stated word limit no penalty will apply.

The word count is to be declared on the front page of your assignment and the assignment cover sheet. The
word count does not include:

 Title and
 Reference list  Appendices
Contents page  Appropriate tables,
 Quotes from figures and
 Glossary  Bibliography interviews and illustrations
focus groups.

Please note, in text citations [e.g. (Smith, 2011)] and direct secondary quotations [e.g. “dib-dab nonsense
analysis” (Smith, 2011 p.123)] are INCLUDED in the word count.

If this word count is falsified, students are reminded that under ARTA this will be regarded as academic
misconduct.

Page 3 of 7
Assessment Brief – Newcastle Business School

If the word limit of the full assignment exceeds the +10% limit, 10% of the mark provisionally awarded to the
assignment will be deducted. For example: if the assignment is worth 70 marks but is above the word limit
by more than 10%, a penalty of 7 marks will be imposed, giving a final mark of 63.

Students must retain an electronic copy of this assignment (including ALL appendices) and it must
be made available within 24hours of them requesting it be submitted.

Note: For those assessments or partial assessments based on calculation, multiple choice etc., marks will
be gained on an accumulative basis. In these cases, marks allocated to each section will be made clear.

Academic Misconduct

The Assessment Regulations for Taught Awards (ARTA) contain the Regulations and procedures
applying to cheating, plagiarism and other forms of academic misconduct.

The full policy is available at: http://www.northumbria.ac.uk/sd/central/ar/qualitysupport/asspolicies/

You are reminded that plagiarism, collusion and other forms of academic misconduct as referred to in the
Academic Misconduct procedure of the assessment regulations are taken very seriously by Newcastle
Business School.  Assignments in which evidence of plagiarism or other forms of academic misconduct is
found may receive a mark of zero.

Page 4 of 7
Assessment Brief – Newcastle Business School
Module Learning Outcomes (MLOs)
What will I be expected to achieve?
(SRS 0005)
Knowledge & Understanding:
 You will be able to come to reasoned, critical judgements regarding the
impact of financing and dividend decisions on shareholder wealth with an
ability to contrast theory from practice. [LO1]
 You will be able to propose justifiable, sustainable and responsible
solutions, based on your critical evaluation of empirical academic evidence,
to complex real world financial problems. [LO2]
Intellectual / Professional skills & abilities:
 You will be able to display developed reflection and critical analysis skills
through exploring financial practice and real world financial decisions.[LO3]
Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA):
 You will be able to critique the codes of conduct that finance professionals
are governed by, and be able to evaluate dilemmas that responsible
businesses face when making financial decisions with complex
consequences. [LO4]
Page 5 of 7
Programme (Level) Learning Outcomes that this module contributes to:
Knowledge & Understanding:
 Assess knowledge of contemporary professional practice in business
and management informed by theory and research. [6.1.1]
 Appraise knowledge of business and management to complex
problems in professional practice in order to identify justifiable,
sustainable and responsible solutions [6.1.2]
Intellectual / Professional skills & abilities:
 Critique creative and critical thinking skills that involve independence,
understanding, justification and the ability to challenge the thinking of
self and others [6.2.2.]
Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity)
(PVA):
 Critique their personal skills and attitudes for progression to post-
graduate contexts including professional work, entrepreneurship and
higher level study [6.3.2]
Assessment Brief – Newcastle Business School
Module Specific Assessment Criteria
The first column indicates the general assessment criteria used within NBS the second column indicates the
specific criteria used when marking your assessment.
Mark General Criteria
First Exceptional scholarship for subject.
(80 - 100) Outstanding ability to apply, in the right
measure, the skills necessary to achieve
highly sophisticated and fluent
challenges to received wisdom.
First Knowledge and understanding is
(70 - 79) comprehensive both as to breadth and
depth. A mature ability to critically
appreciate concepts and their inter-
relationship is demonstrated. Clear
evidence of independent thought.
Presentation of work is fluent, focused
and accurate.
Upper Knowledge base is up-to-date and
Second relevant, but also may be broad or deep.
(60 - 69) Higher order critical appreciation skills
are displayed. A significant ability to
apply theory, concepts, ideas and their
inter-relationship is illustrated.
Lower Sound comprehension of topic.
Second Reasoning and argument are generally
(50 - 59) relevant but not necessarily extensive.
Awareness of concepts and critical
appreciation are apparent, but the ability
to conceptualise, and/or to apply theory
is slightly limited.
Third Knowledge is adequate but limited
(40 - 49) and/or superficial. In the most part,
description/assertion rather than
argument or logical reasoning is used.
Insufficient focus is evident in work
presented.
(30 - 39) Minimal awareness of subject area.
Communication of knowledge frequently
inarticulate and/or irrelevant.
(0 - 29) Poor grasp of topic concepts or of
awareness of what concepts are.
Failure to apply relevant skills. Work is
inarticulate and/or incomprehensible.
Module Assessment Criteria
Essay is cohesive and displays well the student’s exceptional
independent studies and research, with extensive citations throughout
displaying clear depth of knowledge. Answer displays well students
ability to comprehend that finance is an inter-linked subject and how that
value, and the concept of how value is created, is a combination of the
different attributes which we examine of the course including the creation
of value though dividend policy or mergers and acquisitions. Students
answer is fluent and displays a depth understanding. Exceptional
evaluation of the impact of the covid-19 pandemic on companies.
Blogs are insightful and reflective and provide exceptional ability to
consider how real world examples can be related to theory. Blogs are
extremely well written.
Essay is cohesive and displays well the student’s excellent independent
studies and research, with extensive citations throughout displaying
some depth of knowledge. Answer displays some appreciation of
finance as an inter-linked subject and how that value, and the concept of
how value is created, is a combination of the different attributes which
we examine of the course including the creation of value though dividend
policy or mergers and acquisitions. Students answer is fluent and well
written including an excellent evaluation of the impact of the covid-19
pandemic on companies.
Blogs are insightful and reflective and provide excellent ability to
consider how real world examples can be related to theory. Blogs are
very well written.
As above but literature used is from relevant journals (journal of finance
etc) but use of literature to reinforce points isn’t as coherent or cohesive
as it could be. Student displays analytical skills well when evaluating
value, but there lacks fluidity in the writing and an ability to display a
depth of appreciation of the inter-related nature of the concept of value.
Blogs show some good evidence of the ability to critically evaluate but
there may be some elements of the blogs that are descriptive in nature.
Student clearly is able to show what value is, and displays a sound
ability to apply many of the main concepts surrounding value in
corporate finance to the assignment, but analytical and ability to critically
evaluate is largely missing. Student’s answer uses the Literature
recommended on the teaching and learning plan, but seldom goes
beyond this, or alternatively, the literature they do rely on to support their
claims isn’t of a high quality.
Blogs are fairly well written but tend to be largely descriptive as opposed
to reflective and evaluative.
Student acknowledges what value is in corporate finance, but answer
lacks evidence of an ability to display good analytical critical thinking
skills or apply this to the specific issues or to make use of examples to
illustrate points being made. Answer is somewhat one-dimensional at
times, lacking depth and evidence of reading beyond the teaching and
learning plan.
Blogs are poorly written and are largely descriptive as opposed to
reflective and evaluative. There may be content which is dated.
Students answer is descriptive of what value is in corporate finance and
lacks evidence of critical analytical ability. Answer probably lacks any
semblance of coherence and fluidity and probably relies of definitions
etc. Possibly literature is used to evidence academic research, but
“patch-writing” or similar may be evidenced.
Blogs are poor in content and style and some may be missing.
See general guidelines.
Page 6 of 7
Assessment Brief – Newcastle Business School

Page 7 of 7