Case Studies In Finance 8th Edition Pdf
Mirtha Shikles
Lessons in Corporate Finance, Second Edition offers a comprehensive introduction to the subject, using a unique interactive question and answer-based approach. Asking a series of increasingly difficult questions, this text provides both conceptual insight and specific numerical examples. Detailed case studies encourage class discussion and provide real-world context for financial concepts. The book provides a thorough coverage of corporate finance including ratio and pro forma analysis, capital structure theory, investment and financial policy decisions, and valuation and cash flows provides a solid foundational knowledge of essential topics. This revised and updated second edition includes new coverage of the U.S. Tax Cuts and Jobs Act of 2017 and its implications for corporate finance valuation.
Written by acclaimed professors from MIT and Tufts University, this innovative text integrates academic research with practical application to provide an in-depth learning experience. Chapter summaries and appendices increase student comprehension. Material is presented from the perspective of real-world chief financial officers making decisions about how firms obtain and allocate capital, including how to:
PAUL ASQUITH is the Gordon Y. Billard professor of finance at M.I.T.'s Sloan School. He is a specialist in corporate finance and has written on all areas of corporate finance including mergers, LBOs, equity issues, dividend policy, and more.
LAWRENCE A. WEISS is professor of International Accounting at Tufts University. He is a specialist in accounting and finance and has written on corporate bankruptcy, firm performance, international accounting, mergers, and more.
Carefully constructed financial tools called coal transition mechanisms (CTMs) can help generators, electricity customers, and the public overcome these complications and realize the benefits of cheaper clean energy. In the past few years, the first wave of FIs has begun to capitalize on the opportunity to enable early coal plant retirement through the use of CTMs in various markets globally. The continued deployment of CTMs to accelerate the energy transition is especially critical in emerging markets and developing economies (EMDEs), as a significant amount of financing will be needed to enable a managed and just coal transition. Although we have seen billions of dollars committed to coal transition globally, most of that finance has not yet been deployed (and not at scale).
With these case studies, RMI highlights lessons learned from the first few successful transactions and the enabling factors they relied on to promote increased awareness and use of such factors for managed phaseout transactions moving forward. Specifically, we have showcased managed phaseout transactions that enabled the early retirement of coal plants:
These case studies demonstrate innovative and potentially replicable approaches to utilizing CTMs that could apply in diverse geographies and market structures, most notably in emerging and developing economies.[1]
These case studies highlight the key factors that enabled early retirement as examples so that others can carry over these learnings and contextualize them for new markets and future transactions. Across all these case studies, we identified the following enabling factor themes:
Over the past few years, the first wave of financial institutions (FIs) has begun to capitalize on the opportunity to enable early coal plant retirement using innovative financial mechanisms in markets like Chile, the United States, and the Philippines. As early-stage pilots, each of these mechanisms were designed to meet the needs of specific market and grid conditions.
The transaction has three key elements, which interact with and reinforce each other: 1) Renegotiated PPAs allowed for early coal retirement, which enabled Starwood to 2) refinance from institutional investors as an attractive investment opportunity, which then enabled Starwood to 3) utilize the site and its favorable interconnection grid position to develop battery storage.
The above pilot along with others that can be found here have laid the blueprint for how well-designed, specific financial mechanisms can help accelerate the coal-to-clean transaction and unlock the benefits of clean energy. However, scaling from a few pilots to the effort required to meet ambitious climate targets requires more easily replicable models for early coal asset retirement. These case studies highlight lessons learned from past transactions and the enabling factors they relied on to promote increased awareness and use of such factors for managed phaseout transactions moving forward. Across all highlighted case studies, we identified the following enabling factor themes:
By analyzing the carefully constructed financing mechanisms that enabled these pilots, we have identified replicable formats that can serve future transactions in diverse geographies with coal capacity that can be retired. Given the speed with which such transactions must scale, it is crucial to continue iterating on and sharing best practices of innovative managed phaseout.
Google's Project Oxygen started with a fundamental question raised by executives in the early 2000s: do managers matter? The topic generated a multi-year research project that ultimately led to a comprehensive program, built around eight key management...
Bang Si-Hyuk ('Hitman Bang') is the founder and co-chief executive officer of Big Hit Entertainment, the company behind BTS, a 'K-pop' band that has found unparalleled success around the globe-a remarkable feat given that most of their songs are in...
Retaining talent is an issue for any company whose success relies on the creativity and excellence of its employees. This is especially true for Cirque du Soleil, the spectacularly successful "circus without animals," whose 2,100 employees include 500...
GE is faced with Jack Welch's impending retirement and whether anyone can sustain the blistering pace of change and growth characteristic of the Welch era. After briefly describing GE's heritage and Welch's transformation of the company's business...
Although inexperienced in real estate, Edward Alexander hopes in June 2013 that youthful enthusiasm and an $240,000 in savings and inheritance will help him enter the real estate business. His experience chronicles the process of finding, evaluating, and...
The coach of the varsity Army crew team at West Point assembled his top eight rowers into the first crew team and the second tier of rowers into the second team using objective data on individual performance. As the second boat continually beat the first...
The Inside the Case video that accompanies this case includes teaching tips and insight from the author (available to registered educators only). The launch of the Chase Sapphire Reserve credit card was enthusiastically received by Millennial consumers,...
The Inside the Case video that accompanies this case includes teaching tips and insight from the author (available to registered educators only). Based on a variety of metrics, Trader Joe's ranked as one of the most successful grocers in the United...
Provides an opportunity to examine leadership and entrepreneurship in the context of Ernest Shackleton's 1914 Antarctic expedition, a compelling story of crisis, survival, and triumph. Summarizes Shackleton's career as an officer in the British Merchant...
The Inside the Case video that accompanies this case includes teaching tips and insight from the author (available to registered educators only). How should historic social injustices be addressed? Survivors of the 1921 Tulsa Massacre and their...
Revlon India was founded as a joint venture in 1995, pairing the industrial conglomerate UMG with the global beauty brand Revlon, Inc. to bring international color cosmetics to India. After growing rapidly and pioneering the Beauty Advisor (BA) model in...
When the "King of Pop," Michael Jackson, unexpectedly died in 2009, he left behind an estate that was over $500 million in debt, with largely illiquid assets, and legions of creditors poised to begin to seize assets in as soon as 60 days. The task of...
Channels of distribution are a critical component of a firm's go to market strategy. A company may elect to sell its products directly to customers (DTC) without the assistance of any intermediaries or, alternatively, it may seek several channel partners...
The American Bully XL, first introduced to the United Kingdom around 2014, had been held responsible for a disproportionate share of both dog-related attacks and deaths. The case discusses the announcement, in October 2023, that the dog breed would be...
Firms and investors alike are beginning to recognize the importance of tracking how revenues from existing customers are evolving over time and to appreciate the value in understanding what might explain changes in these revenues. Consequently, in...
In 2023, the Singapore-based startup company Horizon Quantum Computing was on the cusp of fast expansion and the founder faced the challenge to decide where to open the second office outside Singapore. To make a choice from the list of 10 countries, the...
SofMedica Group had expanded from its origins as a medical equipment distributor in Romania to a holding company with four business lines operating in six countries. This expansion had been driven by SofMedica's mission: to make cutting edge medical...
The board of Aviva Plc, one of the world's largest insurers, must review its climate risk exposures and evaluate next steps. Risk experts at the firm have conducted a robust set of analyses prepared for its regulator, the Bank of England, simulating how...
This chapter provides a road map for how instructors can teach most effectively using the case method. It describes the history of the case method and the reasons to use it. It provides an overview of what instructors can do before, during and after...
Hwa Gung Tea (HGT), a premium tea brand founded in Taiwan, has a rich history dating back to 1918. For many decades, the family business has been producing and distributing alpine Oolong tea cultivated at above 2,000 metres on the famous tea-producing...
c80f0f1006