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New Immuno-Oncology Solutions (NIOS): Aligning Stakeholders in the Biotech Industry
Vroom, Govert; Maribel Berges; Sastre Boquet, IsaacCase SM-1701-EEntrepreneurship, Innovation and Change, StrategyThis case focuses on a small biotech company (NIOS), located in Barcelona, Spain, that is developing a new immune-oncology product for treating pancreatic cancer. The drug that the company is developing has recently finished Phase I of clinical trials successfully and is now preparing for Phase II and III. At this point, the CEO is approached by her former PhD director, a university professor, who asks if the company is interested in licensing a ...Starting at €8.20
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La diversificación de los modelos de negocio: cómo lograr que múltiples modelos funcionen en su empresa
Sohl, Timo; Vroom, Govert; McCann, Brian T.Article HDBR-10Innovation and ChangePara ser más competitivas y poder adaptarse a los cambios del mercado, cada vez son más las empresas que optan por operar con varios modelos de negocio a la vez. En la mayoría de casos, se sigue empleando el modelo original y se adopta un modelo nuevo, disruptivo, de forma paralela. Para minimizar los obstáculos que presenta este proceso, es importante saber que adoptar modelos que no tienen relación entre sí es más complicado que adoptar modelos...Starting at €8.20
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Norfolk Southern Corporation-Century Bonds
Conroy, Robert M.Case DARDEN-F-1733-EFinanceNorfolk Southern Corporation (NSC), a railway operator, was issuing a $250 million bond with a coupon of 6% and a maturity in 2105. The bonds were added to an existing $300 million 6% debt issue due 2105, which the company first sold in 2005. A bond analyst at Tidal Insurance (Tidal), has heard that the original issue of this century bond was to be $100 million, and it seemed that strong investor demand pushed NSC, to increase the total amount to...Starting at €8.20
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Single-Stock Futures
Conroy, Robert M.Case DARDEN-F-1640-EFinanceJack Goodwin had recently read an article on using futures contracts on individual stocks for hedging purposes. He held about 500 shares of Abbott Laboratories in his trading portfolio. While he was concerned about the share price falling in the short run, he was bullish over the long run. Of course, he could sell now and buy later, but that would mean he would have a taxable capital gain, which he wanted to avoid. He thought the single-stock-fut...Starting at €8.20
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Target Corporation Rewards Program, June 2010
Conroy, Robert M.Case DARDEN-F-1632-EFinanceIt was May 2010, and the results were in. For Doug Scovanner, CFO of Target Corporation, there was good news, and there was bad news. The recent trials of a new REDcard Rewards Program in Kansas City, Missouri, and San Antonio, Texas, had yielded mixed results. In San Antonio, the new rewards program offered customers a 3% discount on Target purchases when using a REDcard, but it had not produced a meaningful increase in sales in that market. On ...Starting at €8.20
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Netflix, Inc., 2007
Pfeifer, Phillip E.; Conroy, Robert M.Case DARDEN-F-1592-EFinanceThe protagonist in this case is an analyst attempting to value Netflix, Inc., and check whether her recent buy recommendation at a price of $20.00 per share was still valid. Recent bad news had caused the price to drop and she needed to do her best to figure out what was the future for Netflix, and was it undervalued at $17 per share? Intended for MBA students, this case contains her discounted cash flow valuation and a set of assumptions (revenu...Starting at €8.20
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Spotify: Face the Music (Update 2016) - Teaching Note: Facing Increased Competition
Sastre Boquet, Isaac; Vroom, GovertTeaching Note SMT-112-EStrategyThe case describes the business model of the music streaming company Spotify, setting it against the backdrop of a music industry that had faced steep revenue declines since the advent of digital formats in the late 1990s and the rise of illegal file sharing. The case also presents the competition Spotify faces from the likes of Pandora, Google and Apple and asks whether Spotify has a viable long-term business model despite its explosive user and...Starting at €0.00
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Spot and Forward Interest Rates
Harris, Robert S.; Conroy, Robert M.Technical Note DARDEN-F-1520-EFinanceThis note examines how spot and forward interest rates relate to bond prices and to each other. After defining spot and forward rates, the note shows how to estimate spot rates from data on either zero-coupon bonds or coupon bonds. It also shows how to express these stated rates for different compounding assumptions. The note pays particular attention to understanding how arbitrage forces in markets establish the links between forward and spot ra...Starting at €8.20
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Stock Options and Compensation
Harris, Robert S.; Conroy, Robert M.Technical Note DARDEN-F-1521-EFinanceThis note is a brief introduction to the logic and practice of using stock options to compensate executives. The Black-Scholes option-pricing model is used to estimate the value of option grants for a company. The note affords the opportunity to apply options valuation in the context of executive compensation, and serves as a companion to introductions to options that expose the reader to the Black-Scholes option-pricing model. A spreadsheet is a...Starting at €8.20
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Valuing Assets in Financial Markets
Harris, Robert S.; Conroy, Robert M.Technical Note DARDEN-F-1518-EFinanceThis technical note provides an overview of techniques used to value assets, including multiples, arbitrage pricing, and discounted cash flow. The note emphasizes the basic nature of valuation approaches and their logical underpinning, focusing on how techniques are applied to assets that are or might be traded in financial markets. The note sets the stage for specific (and often complicated) applications of the pricing techniques.Starting at €8.20