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The Quest for Achieving Financial Inclusion: M-Pesa Versus UPI
Winig, Laura; Eaves, DavidCase HBS-KS1304-EInformation TechnologiesIn 2019, World Bank analyst Abebi Eke had a difficult assignment: decide whether to recommend that the World Bank, in line with its commitment to expanding financial inclusion to the world's poor, lend its support to a particular digital payments scheme. Eke was asked to investigate two of the most promising payment systems-UPI in India and M-Pesa in Kenya-and prepare a memo comparing the benefits and drawbacks of each. Eke had discovered that wh...Starting at €8.20
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Evaluating M&A Deals--Equity Consideration
Baldwin, Carliss Y.Case HBS-208077-EFinanceWhat the acquiring company pays for a target in a merger or acquisition is called "consideration." Consideration can be in the form of cash, shares, or a combination of the two. Lays out the basic mechanics of equity consideration. Derives formulas for thStarting at €8.20
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Evaluating M&A Deals: How Poison Pills Work
Baldwin, Carliss Y.Case HBS-208061-EFinanceThe poison pill defense against hostile takeovers was invented in 1982 by Martin Lipton, of Wachtell, Lipton, Rosen and Katz. Pills are considered the most effective of all the normal defenses against a hostile bidder. Describes the two basic types of poison pills (flip-ins and flip-overs), and explains how the form of a tender offer changes the impact of a pill on the bidder. Also describes how bidders can set up tender offers to avoid poison pi...Starting at €8.20
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Evaluating M&A Deals: Introduction to the Deal NPV
Baldwin, Carliss Y.Case HBS-208060-EFinanceIntroduces a framework for evaluating mergers and acquisitions. Assumes that the criterion of a good deal is that it creates value for shareholders; i.e., has a positive deal NPV. Looks at the deal NPV from both the buyer's and seller's point of view. ExpStarting at €8.20
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Evaluating M&A Deals: Floors, Caps, and Collars
Baldwin, Carliss Y.Case HBS-209138-EFinanceAs equity consideration has become more popular in acquisitions, so has the use of the "pricing-protection" mechanisms, such as floors, caps and collars. These contractual devices provide insurance to the shareholders of the target, and may protect the buyer as well. The purpose of this note is to define the main categories of price protection, and explain their impact on the payoffs and value of the deal to the target's shareholders.Starting at €8.20
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Evaluating M&A Deals: Accretion vs. Dilution of Earnings-per-share
Baldwin, Carliss Y.Case HBS-208059-EFinanceWhen discussing the pros and cons of an acquisition, practitioners often talk about the impact of the deal on the buyer's earnings-per-share (eps). An acquisition is said to be "accretive" if the buyer's eps goes up post-deal; it is "dilutive" if the buyeStarting at €8.20
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Evaluating M&A Deals--Announcement Effects, Risk Arbitrage and Event Risk
Baldwin, Carliss Y.Case HBS-208103-EFinanceThe announcement of merger or acquisition conveys new information to the capital markets. This note describes how the stock prices of a Buyer and Target behave after the announcement of a deal. First, for an all-stock deal that is certain to go through, the note defines accouchement effects and describes the fundamental arbitrage relationship between Target and Buyer stock prices. It shows how post-announcement prices may be used to infer the mar...Starting at €8.20
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Productos de consumo Disney: marketing nutricional infantil
Bell, David E.; Winig, LauraCase HBS-508S23MarketingEn un esfuerzo por ganar cuota de mercado en la categoría de alimentos de los niños, Disney Consumer Products (DCP) debutó una amplia línea de "mejores para usted" alimentos, que van desde frutas y verduras frescas a las comidas congeladas, a través de una asociación con los supermercados Kroger. En respuesta a una epidemia global de obesidad, DCP reformuló los productos existentes e introdujo nuevos que cumplieron con los requisitos nutricionale...Starting at €8.20
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The HLB Turnaround
Applegate, Lynda M.; Chakravorti, Bhaskar; Winig, LauraCase HBS-810023-EEntrepreneurshipFord Pearson has recently taken over as CEO of HLB, a Chicago-based product design and development firm (and once one of the largest in the business), to help turn it around after a series of crises that had seriously threatened its survival. Pearson has personally invested in the firm, re-organized many aspects of its operations and has hired a younger executive and turnaround expert, Andrew Macey, as COO to help him in the effort. Pearson and M...Starting at €8.20
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A Glossary of Technical Terms Related to Bankruptcy in the U.S.
Baldwin, Carliss Y.; Sharpe, James M.; Mehta, RaviCase HBS-212081-EFinanceQuick reference guide of various terms related to the United States Bankruptcy Code. Outline of some of the important technical terms related to the bankruptcy process in the United States. Covers both Chapter 7 and Chapter 11 with a brief definition of bStarting at €8.20