Market Analysis Training Courses - Business Training London

Mergers and acquisitions / shareholder value/working capital management
- Ensure you are not one of the 70% of mergers and acquisitions that fail to create shareholder value
- The rationale behind mergers and acquisitions
  Key valuation techniques
  Key risks
  The due diligence process
  The integration process
  
  Definition of economic value
  Traditional accounting based definitions of shareholder value
  Calculation of the value of businesses
  Divisions and strategies using shareholder value analysis (SVA)
  Best and worst practice approaches to managing a business to create shareholder value
  
  Strong working capital management
  Foreign exchange risks and hedging techniques
  Working capital and shareholder value
  Latest working capital trends
  Creating the right culture
  Management techniques
  Financing working capital
  Foreign exchange

Behavioural finance
- An introduction to the terminology and some of the impact behavioural finance can have on the investment decision making process
- Over-optimism
  Cognitive dissonance
  Confirmation bias
  Conservatism bias
  Anchoring
  Representativeness
  Heuristic – rules of thumb
  Availability bias
  Ambiguity aversion
  Reference dependence
  Errors of preference
  Violations of LOOP
  AMH – Adaptive Market Hypothesis
  Behavioural finance and technical analysis

Current macroeconomic issues
- The cause of the “credit crunch" the techniques and polices used to try and deal with it, the current position of the UK economy and the outlook for recovery
- Analysis of UK macroeconomic recent data
  Components of aggregate demand
  Relationship between Aggregate Demand and GDP
  The NICE decade for the UK and the West
  Fiscal and Monetary policy
  Changing UK economy and global growth
  The operation of monetary policy during the crisis and its limitations
  Emergence of quantitative easing
  Fiscal policy and the impact on the real economy

Foreign exchange and money markets
- With a view to ensure you don’t lose out on your currency transactions, a full understanding of how the money markets work and who uses them will be essential
- Foreign exchange quotation
  American and European terms
  Pips and big figures
  Market participants and influences on the exchange rate
  Triangular arbitrage between spot rates
  Forward rates
  Purchasing power parity and International Fisher
  Foreign exchange options
  Swaps

The City and financial markets
- A solid technical foundation to enable further exploration
- What is the ‘City’?
  The UK banking system – investment, merchant and retail banks
  The equity market- Stock Exchange listings, stockbrokers, trading mechanisms
  The bond market - bond pricing, risk, interest rates and yields
  The money market
  Foreign exchange – spot versus forward exchange rates
  Derivatives – futures, options and swaps

The credit crunch and its aftermath
- An insight into the linkages between sub-prime and toxic debt, the banking sector, Government bond markets and a fuller understanding of the biggest financial shock in 80 years
- The banking and money markets
  Government bond markets and the yield curve
  Corporate bonds
  Securitisation
  The emergence of sub-prime
  The problems for the banking system
  The drop in liquidity
  The credit crunch
  Policies to deal with the ‘crunch and the problems of using interest rates
  The impact on Government bond markets; problems of a country’s credit
  Possible changes in the financial system

Corporate acquisitions and disposals
- Review the key issues relating to business and company sales from initial valuation, structuring and negotiation the deal to the final completion of accounts
- The law
  Structuring the deal
  Share vs. business sale
  Payment methods
  A checklist of pre-contractual issues
  the key issues to be aware of in precontractual
  Lockout agreements
  Valuing the target
  Due diligence
  Warranties and indemnities
  Accounting issues – a non-technical guide
  Pensions
  Employment law
  The vendor’s perspective
  Environmental liabilities
  Tax

Due diligence
- Ensure your deal increases your company’s value and improve the tax efficiency of the transaction
- Taxation
  Cultural and marketing due diligence
  IP due diligence
  Competition
  Management
  Cross-border issues
  Employment due diligence
  Pensions due diligence
  Environmental due diligence

Market Analysis