Darden University of Virginia (USA)
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Valuing Assets in Financial Markets
Harris, Robert S.; Conroy, Robert M.Technical Note DARDEN-F-1518-EFinanceThis technical note provides an overview of techniques used to value assets, including multiples, arbitrage pricing, and discounted cash flow. The note emphasizes the basic nature of valuation approaches and their logical underpinning, focusing on how techniques are applied to assets that are or might be traded in financial markets. The note sets the stage for specific (and often complicated) applications of the pricing techniques.Starting at €8.20
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Spot and Forward Interest Rates
Harris, Robert S.; Conroy, Robert M.Technical Note DARDEN-F-1520-EFinanceThis note examines how spot and forward interest rates relate to bond prices and to each other. After defining spot and forward rates, the note shows how to estimate spot rates from data on either zero-coupon bonds or coupon bonds. It also shows how to express these stated rates for different compounding assumptions. The note pays particular attention to understanding how arbitrage forces in markets establish the links between forward and spot ra...Starting at €8.20
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Stock Options and Compensation
Harris, Robert S.; Conroy, Robert M.Technical Note DARDEN-F-1521-EFinanceThis note is a brief introduction to the logic and practice of using stock options to compensate executives. The Black-Scholes option-pricing model is used to estimate the value of option grants for a company. The note affords the opportunity to apply options valuation in the context of executive compensation, and serves as a companion to introductions to options that expose the reader to the Black-Scholes option-pricing model. A spreadsheet is a...Starting at €8.20
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The Black-Scholes Option-Pricing Model
Harris, Robert S.; Conroy, Robert M.Technical Note DARDEN-F-1522-EFinanceThis note discusses the Black-Scholes option-pricing model and then applies the model to call options. The underlying logic of the model is emphasized and illustrated through the use of simple examples. The model is then applied using real data. The note pays particular attention to procedures for estimating the potential for stock-price changes (volatility). It also provides the reader with an appreciation of the economic underpinnings of the mo...Starting at €8.20
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Investure, LLC, and Smith College
Chaplinsky, Susan; Harris, Robert S.; Kelly, Dorothy C.Case DARDEN-F-1537-EFinanceAlice Handy, an investment professional with 30 years' experience as head of the University of Virginia Investment Management Company, has opened a new asset management firm targeted at midsize endowments and nonprofit institutions in January 2004. Her business, Investure, LLC, offered outsourced investment services to institutions with $150 million to $1 billion in assets and access to top-performing managers at lower cost than a fund of funds (...Starting at €8.20
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Healthineers: A Strategic IPO
Harris, Robert S.; Holtz, PaulCase DARDEN-F-1881-EFinanceThis case covers the initial public offering (IPO) of the Siemens subsidiary Healthineers. The March 2018 offering of the health care technology firm was heavily anticipated on the Frankfurt Stock Exchange, and was Germany’s largest IPO in more than 20 years. Healthineers was one of Siemens’ most successful businesses, and its management board had a keen interest in its long-term success and in the valuation that financial markets would place on ...Starting at €8.20
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Siemens and Healthineers: Valuing the IPO - Teaching Note
Harris, Robert S.Teaching Note DARDEN-F-1913TN-EFinanceTeaching note for product F-1913Starting at €0.00
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Ethical Product Design Framework
Leiner, Benjamin; Parmar, Bidhan L.Technical Note DARDEN-E-0502Business Ethics and Corporate Social ResponsibilityTechnologists, particularly product managers, do not make design choices in a vacuum. Often, they have quantitative objectives they hope to achieve as part of their quarterly goals. But purely pursuing those objectives without considering risks to various stakeholders—for example, erosion of users' attention or users becoming politically radicalized—may result in considerable harm for not only the product's users but also for the organization. Th...Starting at €8.20
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Fake News and the News Feed
Parmar, Bidhan L.; Leiner, Benjamin; Mead, JennyCase DARDEN-E-0429Business Ethics and Corporate Social ResponsibilityTessa Lyons was a rising star at Facebook. She had been the project manager in charge of news feed integrity for a little over a year, stationed at the front lines in the battle against misinformation and “fake news.” However, in early 2019, she faced an ethical dilemma that could define her tenure at the company and perhaps her career: whether to ban Alex Jones and the content from his platform, Infowars, from the Facebook news feed.Starting at €8.20
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Workaround: Which Integration Ideas to Explore?
Parmar, Bidhan L.; Mead, Jenny; Leiner, Benjamin; Vambre, DavidCase DARDEN-E-0476Business Ethics and Corporate Social ResponsibilityAnna Bender, VP of product at Workaround, a large human resources (HR) software firm, had just been presented with a number of different recommendations from her employees on how to integrate the functionality and data from a recently acquired software company that had a leading chat app into Workaround’s offerings. Although she was impressed by many of the suggestions, Bender was also ethically conflicted about some of them. The business opportu...Starting at €8.20