Publications

February 2001 (Revised April 2001)
Background Note

Note on Valuing Private Businesses

By: Dwight B. Crane and Indra Reinbergs

This case provides a brief overview of valuation for owners of closely held companies. The focus is on a comparable transactions approach, although rules of thumb and discounted cash flow are mentioned. Earnings multiples and their drivers are discussed. It uses... View Details

Keywords: Earnings Management; Finance; Cash Flow; Analytics and Data Science; Private Ownership; Valuation

November 2000
Background Note

Note on Employee Stock Ownership Plans (ESOPs) and Phantom Stock Plans

By: Dwight B. Crane and Indra Reinbergs

Provides a brief overview of employee stock ownership plans (ESOPs) and phantom stock plans for owners of closely held companies. ESOPs can be used as a tool of corporate financing, and can provide employees with ownership interests. Phantom stock plans can reward... View Details

Keywords: Financing and Loans; Employee Stock Ownership Plan; Motivation and Incentives; Management Teams; Corporate Governance; Ownership Stake; Taxation

October 2000
Teaching Note

Drivers of Industry Financial Structure

By: Dwight B. Crane and Indra Reinbergs

Teaching Note for (9-201-039). View Details

Keywords: Finance; Financial Statements; Industry Structures

October 2000
Teaching Note

Kendle International Inc. TN

By: Dwight B. Crane and Indra Reinbergs

Teaching Note for (9-200-033). View Details

Keywords: Biotechnology Industry; Pharmaceutical Industry

September 2000 (Revised March 2001)
Teaching Note

Be Our Guest, Inc. TN

By: Dwight B. Crane

Teaching Note for (9-299-001). View Details

Keywords: Utilities Industry; Service Industry

September 2000 (Revised October 2000)
Exercise

Drivers of Industry Financial Structure

By: Dwight B. Crane and Indra Reinbergs

This case contains common-size balance sheets and financial ratios for 10 companies, each representative of a different industry. Students are asked to identify the industries from the structure of the financial statements. View Details

Keywords: Finance

July 1999 (Revised October 1999)
Case

PPL Group

By: Dwight B. Crane and Penny Joseph

April 1999 (Revised March 2001)
Case

Be Our Guest, Inc.

By: Dwight B. Crane and Penny Joseph

Be Our Guest is a rapidly growing equipment rental company with substantial seasonality in its revenues and profits. In the spring of 1998, the senior management team is reviewing its financial plans in preparation for a meeting with the company's bank. The case... View Details

Keywords: Financial Strategy; Borrowing and Debt; Banks and Banking; Revenue; Management Teams; Business Plan; Forecasting and Prediction; Utilities Industry; Service Industry

February 1999 (Revised March 1999)
Exercise

Investment Analysis Exercises

By: Dwight B. Crane and Penny Joseph

To teach present value analysis. View Details

Keywords: Investment

winter 1999
Article

The Design and Production of New Retirement Savings Products

By: Dwight B. Crane and Z. Bodie

Keywords: Design; Retirement; Saving; Product

June 1998 (Revised April 1999)
Case

Wiegandt GmbH Cologne

By: Dwight B. Crane and Mathew M Millett

The credit department of Wiegandt, a furniture manufacturer, is evaluating the financial condition of two stores that retail the company's furniture. View Details

Keywords: Financial Condition; Credit; Financial Management; Distribution Channels; Profit; Management Analysis, Tools, and Techniques; Financial Strategy; Manufacturing Industry

1998
Working Paper

The Design and Production of New Retirement Savings Products

By: Zvi Bodie and Dwight B. Crane

September 1994
Teaching Note

Salomon and the Treasury Securities Auction TN

By: Dwight B. Crane and Patrick Moreton

Teaching Note for (9-292-114). View Details

Keywords: Banking Industry

February 1994
Case

Merging Asea and Brown Boveri

By: Christopher A. Bartlett and Dwight B. Crane

Keywords: Mergers and Acquisitions

January 1994 (Revised June 1994)
Case

Dean Witter, Discover & Co.

By: Dwight B. Crane and W. James Whalen

Early in 1993, Sears was in the process of spinning off its Dean Witter, Discover subsidiary. This subsidiary consisted of a securities brokerage that was acquired in 1981 and also the Discover Card, a general purpose credit card, the firm introduced in 1985. The key... View Details

Keywords: Valuation; Business Subsidiaries; Initial Public Offering; Credit Cards; Corporate Strategy; Asset Pricing; Financial Services Industry

May 1993 (Revised October 1993)
Case

Wesfarmers Limited.: The Dividend Decision

By: Dwight B. Crane

Keywords: Stocks; Decision Making