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IESE (España)
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El difícil juego de equilibrios entre regulación y competencia
Vives, XavierArticle ART-3054Economics, Finance¿Perjudica a la sociedad que haya demasiada competencia en el sector bancario? ¿Qué políticas podrían proteger y estabilizar la banca sin asfixiarla? Este artículo aborda la compleja relación entre competencia, regulación y estabilidad, así como las implicaciones de la coordinación de la regulación bancaria con la política de competencia. El autor presenta los retos a que se enfrentan bancos y reguladores a la hora de gestionar los equilibrios en...Starting at €8.20
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Balancing the Trade-Offs Between Competition and Stability
Vives, XavierArticle ART-3054-EEconomics, FinanceDoes too much competition in banking hurt society? What policies can best protect and stabilize banking without stifling it? This article addresses the critical relationships between competition, regulation and stability, and the implications of coordinating banking regulations with competition policies. The author presents some key challenges that bankers and regulators face in trying to manage the trade-offs between competition and stability. H...Starting at €8.20
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Publicizing Know-How: DGA's Initial Public Offering
Moszoro, MarianCase F-853-ECorporate Governance, FinanceThe case presents the initial public offering of DGA ¿ a relatively small consulting firm, but at the same time the first in Central & Eastern Europe and one of a few in the world to go public. The reader stands over the decision-maker¿s dilemma, whether entering the stock exchange is a proper way for the development of a company which is heavily dependent on specific human assets in the form of know-how of key managers, and which revenues are su...Starting at €8.20
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Bárbaros a las puertas: la adquisición de RMS Teleinformatics por un fondo de capital privado
Moszoro, Marian; Engel, Jerome S.; Santomá, JavierCase F-852FinanceRMS Teleinformatics, una compañía del campo de la tecnología de las comunicaciones, ha experimentado un crecimiento considerable desde sus comienzos. Transcurridos varios años, la necesidad de hacer mayores inversiones y la posibilidad de acceder a contratos más grandes conlleva la necesidad de un mayor volumen de capital. Por esta razón se contacta con un fondo de capital privado, el cual supone para los dueños un plan de financiación que genera...Starting at €8.20
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Project finance: financiación de un parque eólico
Moszoro, MarianCase F-886FinanceEl caso presenta el acuerdo de financiación para el proyecto de un parque eólico en el norte de Polonia. Habla de la estructura y la bancabilidad de proyectos con un alto apalancamiento, concretamente de la sensibilidad de los ratios de cobertura de la deuda en relación con diferentes variables y de las estrategias para la mitigación de riesgos. El caso también facilita el debate del papel de los Gobiernos, como inversores y clientes, en proyecto...Starting at €8.20
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A Wind Farm Project Finance Deal
Moszoro, MarianCase F-886-EFinanceThe case presents a wind farm project finance deal in North Poland. The structuration and bankability of highly leveraged projects is discussed, particularly, the sensitivity of debt coverage ratios to different variables and risk mitigation strategies. The case also facilitates discussion of the role of governments in large-scale projects, both as investors and customers, and the advantages and disadvantages of project finance.Starting at €8.20
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RMS Teleinformatics' CEO - Between the Devil and the Deep Blue Sea: When the Interest of Shareholders and the Company Are at Odds
Moszoro, Marian; Jamro, KonradCase E-140-ECorporate GovernanceRMS Teleinformatics is a high-tech, privately owned company which has been active in the Polish market for 18 years, with over 40 million EUR of revenue. Its CEO wants to grow the company and ensure a better future. He therefore negotiates an investment from a private equity fund (PE). However, the owner of the company and the main shareholder (98% of shares) are against PE, because, according to the five-year projections, the company will be bet...Starting at €8.20
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The Double Advantage of Public-Private Partnerships
Berrone, Pascual; Ricart, Joan Enric; Ferradans, Hugo; Rodríguez, Miguel; Salvador, Jordi; Tadelis, Steven; Vives, XavierDossier DOS-34-EFinance, Service and Operations Management, StrategyThe opportunities for value creation double with PPPs. This dossier will help you ace the game.Starting at €15.00
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Barbarians at the Gate: RMS Teleinformatics' Acquisition by a Private Equity Fund
Moszoro, Marian; Engel, Jerome S.; Santomá, JavierCase F-852-EFinanceRMS Teleinformatics, a technological company in the field of communications, has experimented healty growth from its inception. After some years the need of ever increasing investments and the possibility to access to larger contracts present the need of a higher level of capital for the firm. For this reason a Private Equity Fund is approached. The fund presents the owners with a plan of financing that creates overall value for the firm. The pr...Starting at €8.20
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Other People's Money
Moszoro, MarianCase F-858-EBusiness Ethics and Corporate Social Responsibility, Corporate Governance, FinanceThis case - based on the movie "Other People's Money" (1991) directed by Norman Jewison - provides an excellent basis for the discussion on what is the fundamental goal of business. A Wall Street tycoon intends a hostile takeover of an esteemed industrial company on which the local community is dependent, with the aim of liquidating it. The case features the dichotomy between short-term vs. long-term objectives, management accountability to stake...Starting at €8.20