Write an essay of up to 2000 words on one of the following three topics:
1. Examine the view that dividends are irrelevant to rational investors when considering the value of shares from a theoretical and empirical perspective.
2. Discuss the view that external methods of foreign exchange risk control are inferior to internal methods during periods of financial market volatility.
3. ‘Corporate restructuring is as likely to be a failure as a success.’ Discuss this statement with reference to the relevant theory and empirical evidence on mergers and acquisitions.