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Financial Theory Foundations
Schill, Michael J.Technical Note DARDEN-F-1548-EFinanceFinancial theory seeks to explain how buyers and sellers in financial markets price contracts to exchange money across time and across risk profiles. Using rules of agent behavior, theory generates financial models that attempt to predict the fair prices of the securities in financial markets. To make the models simple enough to be used in practice, theorists make simplifying assumptions about the characteristics of markets and market participant...Starting at €8.20
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Regina Broadband's Earnings Conference Call (B)
Powell, Elizabeth A.; Demers, Elizabeth A.Case DARDEN-C-2368-EAccounting and ControlWithin 30 minutes of releasing its Q4 and year-end earnings, Regina Broadband’s stock was down by over 25%. The company’s CEO and CFO realized they needed to quickly reframe and sharpen the message they would be giving to Regina’s shareholders and investors during that afternoon’s conference call, scheduled to take place in 15 minutes.Starting at €5.74
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"My Summer Internship" by Antar Al-Qawwee
Powell, Elizabeth A.; Al-Qawwee, AntarCase DARDEN-BC-0215-EKnowledge and CommunicationAntar Al-Qawwee describes in vivid detail his first days on the job at his summer internship in Sales and Trading and reflects on the lessons he learned through careful observation. Among the lessons he identifies are (1) Speak up early and often; (2) Be flexible and adjust your style; (3) Fate favors the prepared; and (4) Be yourself. As important as these explicit lessons are, equally important are the skills of presence of mind, mindful self-a...Starting at €8.20
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Terri Dean at Verizon Business (B)
Powell, Elizabeth A.; Yemen, GerryCase DARDEN-BC-0224-EKnowledge and CommunicationA senior vice president of global communications for Verizon Business reads an e-mail from an employee responding to a recent communication effort. The employee, new to Verizon, is trying to connect the dots between the products and solutions he offers customers and how his role fits into the company’s key strategic goals. This one-page B case epilogue reveals that she does indeed respond and becomes an important mentor for the new employee.Starting at €5.74
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Leadership Presence and the Courage to Speak
Powell, Elizabeth A.Technical Note DARDEN-BC-0242-EKnowledge and CommunicationThis note applies the concept of "leadership presence" as established by Belle Linda Halpern and Kathy Lubar to the concerns of business leaders.Starting at €8.20
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Philip Morris USA: Life After the Master Settlement Agreement (A)
Moore, Marian Chapman; Wicks, Andrew C.; Powell, Elizabeth A.; Correll, BrookeCase DARDEN-S-0157-EStrategyWhen Philip Morris USA (PMUSA) president and CEO Michael Symanczyk took office in 1997, he began to re-envision how to take his company forward in the midst of public outrage over the negative health consequences related to smoking, especially among youth. The case reviews the social and economic history of tobacco and smoking in the United States and provides context surrounding the crisis related to the Master Settlement Agreement (MSA) between...Starting at €8.20
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Rosetta Stone: Pricing the 2009 IPO
Schill, Michael J.; Papireddy, Suprajj; Adams, Tom; Clough, PhilCase DARDEN-F-1613-EFinanceThis case examines the April 2009 decision of Rosetta Stone management to price the initial public offering of Rosetta Stone stock during one of the most difficult periods in capital-raising history. The case outlines Rosetta Stone’s unique language learning strategy and the associated strong financial performance. Students are invited to value the stock and take a position on whether the current $15 to $17 per share filing range is appropriate. ...Starting at €8.20
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Roche Holding AG: Funding the Genentech Acquisition
Schill, Michael J.; Durick, Brett; Chambers, DrewCase DARDEN-F-1645-EFinanceThis case examines the decision by the Swiss pharmaceutical Roche Holding AG (Roche) to offer a record $42 billion bond in February 2009. In light of a pending acquisition of US biotechnology leader Genentech, Roche management planned to sell $32 billion in bonds at various maturities from 1 year to 30 years and in three different currencies (US dollar, euro, and British pound). In a context of substantial uncertainty in both world financial mark...Starting at €8.20
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Gellibrand Partners
Schill, Michael J.Case DARDEN-F-1648-EFinanceGiven widening bid-ask spread for a target stock, a small Australian portfolio manager considers front-running the market makers by posting its own quotes inside the spread. Organized in a series of rounds, the case asks students to post bid and ask limit orders for shares. Each round allows orders to come in that execute against the limit order book, cash flow and end-of-round inventory to be calculated, and the market to revise the bid and ask ...Starting at €8.20
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Ben & Jerry's Homemade: The Unilever Scoop
Yemen, Gerry; Allayannis, George (Yiorgos); Schill, Michael J.Case DARDEN-F-1656-EFinanceA follow up for Ben & Jerry’s Homemade (UVA-F-1364), this case is suitable for MBA, EMBA, and GEMBA programs, and could work as a stand-alone undergraduate introduction to corporate finance and M&A or an introductory strategy class on M&A or post-merger integration. Did the Unilever/Ben & Jerry’s merger yield both firms’ fundamental objectives? What did the market think? What did each get from the deal? What can students tell about where future v...Starting at €8.20