學門類別
最新個案
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- Vodafone Idea Merger - Unpacking IS Integration Strategies
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- Snapchat’s Dilemma: Growth or Financial Sustainability
- Did I Just Cross the Line and Harass a Colleague?
- Predicting the Future Impacts of AI: McLuhan’s Tetrad Framework
- Porsche Drive (A) and (B): Student Spreadsheet
- Porsche Drive (B): Vehicle Subscription Strategy
- TNT Assignment: Financial Ratio Code Cracker
- Winsol: An Opportunity For Solar Expansion
Facebook's Initial Public Offering: The Aftermath (B)
內容大綱
Supplement to 9B12N031.
學習目標
The case introduces both MBA and undergraduate students to advanced issues in corporate finance. Students are faced with a fast-growing, high-profile company from a new industry where the potential earnings outlook is uncertain. Students learn about the dynamics of the IPO market, the incentives of different parties (company, insiders, underwriters, new shareholders) and their potential conflicting interests. It is hard to establish a valuation for Facebook’s shares despite having a third-party fundamental valuation and market multiples from both precedent transactions and comparable companies. Through the discussion, students learn that equity valuation is both an art and a science. They also review the steps involved in a U.S. IPO.