Publications

Keywords: Valuation

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January 2001
Supplement

Pharmacyclics: Financing Research and Development

Spreadsheet to (9-201-056). Presents exhibits 2, 3, 4, 9, 10, and 11. Download only. View Details

19 Jul 2011
First Look

First Look: July 19

PublicationsBroadening Focus: Spillovers, Complementarities and Specialization in the Hospital Industry Authors:Jonathan R. Clark and Robert S. Huckman Publication:Management Science (forthcoming) Abstract The long-standing argument... View Details

Keywords: Sean Silverthorne

15 Feb 2011
First Look

First Look: Feb. 15

experiments offer evidence that debates about the relative costs and benefits of self-deception are informed by adopting a temporal view that assesses the cumulative impact of self-deception over time. Download the paper:... View Details

Keywords: Sean Silverthorne

June 2018
Teaching Note

ALAC International

By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld

ALAC International (ALAC) was awarded the U.S. distributorship of di-isononyl phthalate (DINP) which provided ALAC an opportunity to increase its sales and profits. But the opportunity required a significant additional investment in working capital. The DINP, shipped... View Details

Keywords: Working Capital; Financing and Loans; Growth Management

November 1992 (Revised August 2001)
Case

Eskimo Pie Corporation

In early 1991, Reynolds Metals, the makers of aluminum products, decided to sell its holding of Eskimo Pie, a marketer of branded frozen novelties. Reynolds had an offer from Nestle to acquire Eskimo Pie. However, Reynolds decided instead to make an initial public... View Details

Keywords: Initial Public Offering; Decisions; Mergers and Acquisitions; Performance Productivity; Leadership; Corporate Entrepreneurship; Expansion; Ownership; Food and Beverage Industry; Manufacturing Industry

January 1992
Teaching Note

O.M. Scott & Sons Company TN, The

Teaching Note for (9-209-102). View Details

January 1992
Teaching Note

Gulf Oil Corporation-Takeover TN

Teaching Note for (9-285-053). View Details

Keywords: Privatization; Business Exit or Shutdown; Bids and Bidding; Natural Environment; Energy Industry

March 1989 (Revised April 1998)
Case

Marriott Corporation: The Cost of Capital (Abridged)

Gives students the opportunity to explore how a company uses the Capital Asset Pricing Model (CAPM) to compute the cost of capital for each of its divisions. The use of Weighted Average Cost of Capital (WACC) formula and the mechanics of applying it are stressed. View Details

Keywords: Cost of Capital; Mathematical Methods

March 1989 (Revised October 1994)
Case

Philip Morris Companies and Kraft, Inc.

Gives students the opportunity to explore the effect of substantial free cash flow on corporate acquisition and operating strategies. Students are also given the opportunity to extract information from the common stock prices of the participating firms. A variety of... View Details

Keywords: Cash Flow; Strategic Planning; Acquisition; Strategy; Restructuring; Valuation; Stocks

2010
Working Paper

Valuation When Cash Flow Forecasts Are Biased

This paper focuses adaptations to the discount cash flow (DCF) method when valuing forecasted cash flows that are biased measures of expected cash flows. I imagine a simple setting where the expected cash flows equal the forecasted cash flows plus an omitted downside.... View Details

Keywords: Forecasting and Prediction; Cash Flow; Cost of Capital; Performance Expectations; Prejudice and Bias; Valuation

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November 2001 (Revised May 2002)
Supplement

Whirlpool Europe

September 2001 (Revised December 2001)
Supplement

Eskimo Pie Corporation (Abridged)

Spreadsheet to (9-202-037). Download only. View Details

2019
Working Paper

The Creative Consulting Company

By: Robert S. Kaplan, Richard Nolan and David P. Norton

During the past 50 years, several consulting companies introduced important new ideas that extended management theory and improved management practice. This paper draws upon public sources and the authors’ personal experiences to describe how three management... View Details

Keywords: Management; Theory; Practice; Performance Improvement; Innovation and Management; Consulting Industry

SSRN

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June 2018 (Revised February 2019)
Teaching Note

Home Nursing of North Carolina

By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld

In 2011, immediately after graduating HBS, Ari Medoff began a self-funded search for a small firm to buy and run as its CEO. After just three month of searching, he identified Home Nursing of North Carolina (HNNC), a home care agency based in Greensboro, NC, as a... View Details

Keywords: Small Firms Management; Acquisition; Negotiation Process; Investment; Small Business; Management; Personal Development and Career

February 1998
Teaching Note

Marriott Corporation: The Cost of Capital (Abridged), Teaching Note

Teaching Note for (9-289-047). View Details

January 1997 (Revised January 2003)
Teaching Note

Eskimo Pie Corporation TN

Teaching Note for (9-293-084). View Details

Keywords: Food and Beverage Industry

May 1995 (Revised October 1995)
Background Note

Introduction to Cash Flow Valuation Methods

Provides an introduction to three cash flow valuation methods. The three methods differ in their measure of cash flows and the discount rate applied to those cash flows. The names for the three methods correspond to the type of cash flow that is used in the valuation:... View Details

Keywords: Cash Flow; Valuation

January 1992
Teaching Note

MCI Communications Corporation (1983) TN

Teaching Note for (9-284-057). View Details

Keywords: Financing and Loans; Growth and Development Strategy; Debt Securities; Risk and Uncertainty; Monopoly; Communications Industry

April 1991 (Revised December 1997)
Case

Southland Corp. (A)

Examines the Thompson's $4.9 billion leveraged buyout of the Southland Corp. in 1987. As the original founders of Southland, the Thompsons were concerned about losing control over the company upon learning of the Belzberg family's acquiring interest. The teaching... View Details

Keywords: Leveraged Buyouts; Governance Controls; Corporate Governance; Bids and Bidding; Valuation; Forecasting and Prediction; Management Analysis, Tools, and Techniques; Strategy; Cash Flow