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This note discusses how some of the most financially sophisticated companies and financial advisors estimate the cost of equity capital. It focuses on areas where finance theory is silent or ambiguous and practitioners are left to their own devices. Survey evidence shows that the Capital Asset Pricing Model (CAPM) is the most widely used model. The note discusses methods companies use to estimate the three key elements needed to apply the CAPM: a proxy for the risk-free rate, an estimate of beta, and an equity-market risk premium. The note is useful for students attempting to apply the Capital Asset Pricing Model.

Introduces responsibility accounting systems.

Discusses the role of differential cost and revenues in solving alternative choice problems.

This case comments on the responsibility of professional organizations to respond openly to public accusations of wrongdoing by its members. It briefly relates the circumstances of the sexual abuse scandal in the Boston archdiocese of the Roman Catholic Church and the American Institute of Certified Public Accountants' handling of concerns about auditor independence. The case suggests that professional associations can learn from these unsuccessful attempts to suppress public concerns about practitioners.

What is a moral challenge? Explores four main types of moral challenge: the challenge of survival, the conflict between "two rights," a moral dilemma--or situation in which it is impossible to satisfy conflicting moral obligations and commitments--and the challenge of "new principles" that raise questions about our values and beliefs. Explores these topics through literature, history, biography, autobiography, and background readings in moral philosophy.

Answers some of the most common questions managers ask about potential corporate and individual liability for corporate misconduct under U.S. law. Describes a few general principles of liability that managers should be aware of. A rewritten version of an earlier note.

This note offers an introduction to reorganization procedures within the U.S. bankruptcy law from a business perspective. It can be used to explore the strategic dimensions of bankruptcy procedures and to set the stage for UV3875.

Explains when to apply the conventional and midpoint elasticity theorems and how to interpret the results.

All securities can be evaluated based on certain common characteristics: value, rate of return, risk, maturity, and so forth. This case examines how bonds are valued and how their rates of return are computed. It begins with basic definitions and features of fixed-income instruments and proceeds to basic bond mathematics. An overview of the U.S. Treasury market is provided, as well as some national markets for other important domestic government bonds.

This case explores two measures of price sensitivity: duration and convexity. These measures are normally used to gauge how sensitive a bond's price is to a change in interest-rate levels. However, as concepts, both duration and convexity have wider application: duration and convexity take into account any change for any risk factor affecting the price of any financial instrument.

Summarizes the process of going public: the steps for SEC approval, the role of the SEC, and the roles of major players such as underwriters and printers.

This note is intended to aid students preparing for The Moral Leader course. Given the unique nature of the materials used in the course (history, literature, biography, autobiography, plays, philosophical extracts), a different approach to reading is required for students to make maximum use of the materials and class designs.

This guide provides an overview of tax planning, the tax system, and tax laws. It can be used as a supplement to "Taxes and Business Strategy: A Planning Approach," by Myron Scholes, Mark Wolfson, Merle Erickson, Ed Maydew and Terry Shevlin. It focuses on some central concepts for class discussion.

Two managers discuss the benefits, costs, opportunities, and headaches of corporate computing. Topics include security, training, the Internet and Web, collaboration, productivity, Moore's Law, computer crashes, upgrades, open source software, network effects, enterprise computing, and competitive differentiation via IT.

Antidilution provisions are an important element of most financings offered to entrepreneurs by venture capitalists and business angels. Yet few entrepreneurs are familiar with the different types of antidilution provisions and their mechanics. Compares the three most common scenarios for a financing round: no antidilution protection, weighted-average antidilution protection, and full-ratchet antidilution protection. Discusses the nature of antidilution provisions and provides a numerical example.

This note discusses the importance of observing process in teams. Specific areas to observe and suggestions on how to observe are outlined.

Explores the experience of work-related stress and examines various coping tactics. Pays particular attention to stress related to the job-search process. Teaching Purpose: To help students recognize sources of stress and develop more effective coping skills.

Provides an orientation and background information for viewing the HBS Kim Malone video.

Discusses the adaptation of the private sector concept of strategy to the public education sector.