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A collection of problems that introduces students to the application of discounted cash flow analysis in the evaluation of capital budgeting problems.

Spreadsheet Supplement for case 298092

A senior executive of a U.S. multinational is attempting to develop a set of financial, operating, and ownership arrangements that will be acceptable to the management and employees of a major Polish company and to the Ministry of Privatization. The arrangements must also be consistent with the financial and strategic objectives of the U.S. multinational. A rewritten version of two earlier cases.

In mid-1992, Christine Olsen, the chief financial officer (CFO) of this large CAD/CAM equipment manufacturer, must decide on the magnitude of the firm's dividend payout. A subsidiary question is whether the firm should embark on a campaign of corporate-image advertising and change its corporate name to reflect its new outlook. The case serves as an omnibus review of the many practical aspects of the dividend decision, including (1) signaling effects, (2) clientele effects, and (3) finance and investment implications of increasing dividend payout.

An insurance industry executive must evaluate the potential of a set of newly-offered catastrophe insurance derivatives. The background addresses the roles of traditional reinsurance and securitization efforts in providing risk transfer and risk financing in the "cat" insurance field. The benefits and difficulties involved in commoditizing a new asset class are explored as well.

David Swensen, chief investment officer at Yale University, reviews the $6 billion endowment strategy, which places an unusually heavy emphasis on private equity and other illiquid securities. Changing market conditions in November 1997 cause him to rethink historically successful approaches. A rewritten version of an earlier case.

Spreadsheet Supplement for case 298077

An MBA student must choose between offers from three private equity organizations. Each organization has distinct strengths and weaknesses, and different implications for the student's career development. The case presents compensation and employment data about the private equity industry. Teaching Note: Introduces the private equity industry and the key offerings between groups.

Spreadsheet Supplement for case 29633

Presents an overview of strategic alliance. Discusses the academic literature and its implications for the structure of strategic alliances. Also details the types of strategic alliances utilized by small, growing firms.

Discusses issues related to government sources of financing for small business in the United States. In addition to presenting motivations for government financing programs, the note gives a detailed presentation of major federal programs to assist small business.

Presents an overview of the issues covered in Entrepreneurial Finance. The frameworks of analysis as well as themes of the course are covered. Additionally, provides references on entrepreneurial finance from both academics and the popular press.

Spreadsheet Supplement for case 298015

Following a five-year search for a profitable, technologically-driven branded consumer products business with international growth potential, The Gillette Company announced its intended acquisition of Duracell. The focus of the case is on assessing the risk of Duracell and the measurement of a discount rate for valuation. The case is particularly rich because of the changing risk profile of Duracell.

Spreadsheet Supplement for case 298068

This exercise comprises seven problems that collectively allow students to work through each type of cash flow that is encountered in capital budgeting. The instructor can also address such issues as product cannibalization and real options.

This case serves as an introduction to the concept of economic value added (EVA). The student is placed in the position of Valmont's CFO to decide whether EVA can live up to its promise to motivate managers to act like shareholders and ultimately lead them to make value-enhancing decisions that can reverse Valmont's weak earnings and lackluster stock-price performance. The case works best if students are acquainted with the concepts of cost of capital and net present value. The teaching note that is available for registered faculty explains how to incorporate the accompanying six-minute video supplement. To obtain the video, please contact Darden Business Publishing at +1-800-246-3367 or [email protected].

Wascana Energy Inc., an oil and gas producer, had just rejected an unsolicited $1.8 billion takeover offer from Talisman Energy Inc. Rival Canadian Occidental Petroleum Ltd. had gained access to confidential Wascana data in order to determine whether a higher bid than Talisman's was warranted, and if so, how to structure the deal. The acquisition would need to make strategic sense.