by Lou Tak Meng, Yen Chiang, Raymond. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1998. / Includes bibliographical references (leaves 74-76). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / Chapter / Chapter I --- introduction --- p.1 / Objective of the Project --- p.1 / Company Background --- p.2 / Chapter II --- METHODOLOGY --- p.4 / Literature Review --- p.4 / Chapter III --- industry analysis --- p.6 / Rivalry among Existing Competitors --- p.7 / Industry Growth Rate --- p.7 / Concentration and Balance of Competitors --- p.12 / Degree of Differentiation and Switching Costs --- p.13 / Threat of New Entrants --- p.13 / Economies of Scale --- p.14 / First Mover Advantages --- p.14 / Access to Channels of Distribution and Relationship --- p.14 / Threat of Substitute Products --- p.15 / Bargaining Power of Buyers --- p.16 / Bargaining Power of Suppliers --- p.17 / Conclusion --- p.18 / Chapter IV --- COMPANY ANALYSIS --- p.19 / Management and Their Ability --- p.19 / Successful Diversification --- p.19 / Strategic Alliance --- p.20 / Distribution Network --- p.22 / Relationship with Government --- p.23 / Critical Success Factor (CSF) --- p.23 / Chapter V --- ACCOUNTING ANALYSIS --- p.24 / Analysis of Significant Accounting Policies --- p.24 / Accounting for Inventory --- p.24 / Research and Development (R&D) Cost --- p.25 / Revenue Recognition --- p.25 / Analysis of the Quality of Disclosure --- p.26 / Disclosure of Business Strategy and Operating Performance --- p.26 / Disclosure of Notes to Accounts --- p.26 / Conclusion --- p.29 / Chapter VI --- FINANCIAL ANALYSIS --- p.30 / Return on Equity (ROE) --- p.30 / Profit Margin --- p.31 / Asset Turnover --- p.31 / Leverage --- p.31 / Comparative Analysis with the Competitor: Legend Holdings Company Limited --- p.32 / Profit Margin --- p.33 / Asset Turnover - Utilization of Assets --- p.37 / Financial Leverage --- p.40 / Cash Flow Analysis --- p.43 / Prediction of Distress --- p.49 / Conclusion --- p.50 / Chapter VII --- VALUATION OF STONE'S SHARE PRICE --- p.51 / Cost of Capital (WACC) --- p.51 / Cost of Equity --- p.51 / Cost of Debt --- p.54 / Weighted Average Cost of Capital (WACC) --- p.54 / Forecasting the Fair Market Value of Stone using Discounted Free Cash Flow Model --- p.55 / Book Valuation Method --- p.56 / Chapter VIII --- CONCLUSION --- p.57 / APPENDIXES --- p.58 / BIBLIOGRAPHY --- p.74
| Identifer | oai:union.ndltd.org:cuhk.edu.hk/oai:cuhk-dr:cuhk_322126 |
| Date | January 1998 |
| Contributors | Lou, Tak Meng., Yen, Chiang Raymond., Chinese University of Hong Kong Graduate School. Division of Business Administration. |
| Source Sets | The Chinese University of Hong Kong |
| Language | English |
| Detected Language | English |
| Type | Text, bibliography |
| Format | print, v, 76 leaves : ill. ; 30 cm. |
| Coverage | China, Hong Kong |
| Rights | Use of this resource is governed by the terms and conditions of the Creative Commons “Attribution-NonCommercial-NoDerivatives 4.0 International” License (http://creativecommons.org/licenses/by-nc-nd/4.0/) |
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