ACADEMICSBusiness ManagementProject: Top-down valuation of a group of ASX(listed) companies for the purpose of stock selection and investmentThis project involved the selection of 4 ASX (listed) companies and the preparation of a 3 step or top-down valuation process for the selection of stock and investment. The initial step involved an analysis of the Australian market including components of the economy that relate to the valuation of securities (i.e. GDP, Interest rates, Inflation, Industrial production) over the following 12 months.This was followed by an industry analysis of the particular sector involving the 4 chosen companies. This included estimates of industry growth and trends, imports and exports, capitalization, etc.Lastly, an individual company analysis was performed to highlight each company's position in the sector and new developments that were likely to impact upon its price over the following 12 months. Based on this information, the value of each company's shares was estimated using an equity valuation model.Based on this estimation and a comparison with the market price, the necessary recommendations were made on the best company for investment.Exposure to and understanding of the working of capital markets, applying professional valuation techniques to determine prices of stocks and bonds.Focused study on interest rate and credit risk management, off-balance sheet instruments, assessment of market risk, liquidity management, etc.Exposure to the derivatives markets, understanding of the uses and pricing of options, forward contracts, and futures contracts; the practice of managing financial risks