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This case features the challenges of a startup in the crowdfunding space in 2015 as its leadership assesses potential sources of growth for the company s future. Founded in Israel in 2012 by a renowned venture capitalist, OurCrowd was a venture capital crowdfunding platform that strove to connect high-growth startups raising capital with accredited private investors from around the world. Its value proposition was to democratize an inefficient market for private equity that had historically been dominated by a small number of highly connected venture capital firms (VCs). The case asks students to put themselves in the shoes of OurCrowd s head of investor community as he prepares for a meeting with the company s board of directors to discuss potential strategies for growth: Should the company partner with the incumbent VCs it initially sought to disrupt, emphasize marketing its Portfolio Reserve fund, strive to provide its investors and investees with higher value-added services, target a broader swath of investors by aggressively marketing the platform in international markets, or attempt to go up-market and pursue increasingly larger deals with later-stage companies? Through assessing these options and discussing this case, students will learn about incentive problems in two-sided markets as well as how different types of crowdfunding platforms create value for users.

It intends to help the learners assess the scenarios of volatility in the Indian capital market which was caused by unpredictable market forces. It also helps in understanding how analysts struggle to predict the direction of the market and what options strategies can be recommended to be deployed by the investors to maximize returns in such compelling scenarios.

This case study presents snapshots of high volatilities caused by the market and economic forces in the Indian capital market. It depicts how analysts struggled to predict the direction of the market; and how high volatility can put them in trouble. It also exemplifies as to how by selecting the apt strategies, investors maximize their immediate returns in a volatile period and can produce large returns in a short time.

The best time to discuss the case is during the completion of options strategies in the course of Derivatives or Portfolio/Investment Management.

Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

CSS 1: Accounting and Finance.

Transnational entrepreneurs (TEs) are individuals that migrate from one country to another, concurrently maintaining business-related linkages with their former country of origin and currently adopted countries and communities. TEs are active social actors who enact networks, ideas, information and practices for the purpose of seeking business opportunities or maintaining businesses within dual-social fields, which, in turn, force them to engage in varied strategies of action to promote their entrepreneurial activities (Drori, Honig & Wright, 2009). This case research focused on the ethic, legal and cultural challenges TE has been facing when operating their business across boards.

The data used in this case were collected from mainly third-parties, including the office de la protection du consommateur; Office of consumer protection (OPC), securities and exchange commission (SEC) reports, news as well as marketing materials posted on public media by Sinorama Corp. and Vacances Sinorama. The authors conducted interviews with former employees of Vacances Sinorama to gain the understanding of the owners and the business challenges faced during the years of operation. The authors also communicated with the OPC through to obtain specific case-related information through the Canadian freedom of information channels. Triangulation of such information from multiple resources had been conducted to validate and support the details described in the case content.

A Chinese immigrant couple migrated to Canada and started Vacances Sinorama Inc. (“Vacances Sinorama”) in 2005. The focus of this case is on the expansion of their travel businesses after 2015. In 2016, they established a financing shell company, Sinorama Corporation (“Sinorama Corp.”), in Florida, USA, which became the holding company to the operation subsidiaries. Born during the 1970s and raised in Mainland China, the owners were culturally traditional and operated the company with the values and norms from their heritage culture. Vacances Sinorama successfully penetrated the local tourism market using Web-based technology and aggressive low-pricing strategies after the scaling-up strategies. However, Vacances Sinorama was operating in the red for several consecutive years (2015–2018). Sinorama Corp. received additional capital of US$4.4m by listing a portion of its shares on the NASDAQ over-the-counter market during 2016 and 2017. Canadian regulators began to investigate its operational and financing activities in 2017. They found a comingling of client and operation funds, which directly violated Canadian consumer protection laws. As a result of these violations, the license for Vacances Sinorama was nonrenewed in August 2018. The majority of owners fought to overturn the regulators’ decision and failed at all levels of appeal, administrative and judicial. This entrepreneurial endeavor ended with Vacances Sinorama declaring bankruptcy in October of 2018.

This multipurpose teaching case aims to assist students from an integrated approach whom are learning about entrepreneurship, international business, business law and business ethics. It is best suited for advanced undergraduate courses in entrepreneurship, business ethics, international business and business law as well as specific teaching modules in MBA courses.

In mid-1992, Christine Olsen, the chief financial officer (CFO) of this large CAD/CAM equipment manufacturer, must decide on the magnitude of the firm's dividend payout. A subsidiary question is whether the firm should embark on a campaign of corporate-image advertising and change its corporate name to reflect its new outlook. The case serves as an omnibus review of the many practical aspects of the dividend decision, including (1) signaling effects, (2) clientele effects, and (3) finance and investment implications of increasing dividend payout.

In June 2004 Purinex, Inc., a pharmaceutical company with several clinically and commercially promising drugs in development, expected to secure a partnership with a major pharmaceutical company sometime in the next four to 12 months. That partnership, if secured, would enable Purinex to develop one of its leading compounds as a drug. The company, however, had no sales or earnings and only 11 months of cash on hand. The student must assess whether the company should attempt to secure financing now or wait until it consummated a partnership deal. The tasks for the student include evaluating the probabilities that collaboration with a pharmaceutical company would actually happen; determining whether the company stay above water until such occurred; and analyzing the other risks to the company under these circumstances.

The theoretical basis for the case is information asymmetry and signaling theory, with buybacks providing a mechanism for reducing information asymmetry between management and investors. The controversy surrounding buybacks has led to political and regulatory scrutiny, which, consistent with evidence from academic research, may affect corporate behavior.

The compact case is based on secondary, public information about stock buybacks. All sources used are cited in-text, with full citations included in the references section at the end of the teaching note.

Stock buybacks, a means of providing returns to shareholders, have recently received increased scrutiny by politicians, media and shareholder activists. Proponents have argued that buybacks result in efficient allocation of capital by returning funds to shareholders, whereas opponents have criticized buybacks for enriching executives, providing tax advantages to shareholders and contributing to income inequality. Corporations did not curtail their use of buybacks after the Inflation Reduction Act of 2022 imposed an excise tax. The case frames the buyback debate in current events and focuses on the buyback activity of Apple. The case provides students the opportunity to analyze alternative ways that companies can provide returns to shareholders, evaluate impacts of buybacks on corporate stakeholders and appraise the reasons for, and implications of, current controversy regarding buybacks.

This compact case is appropriate for upper-level undergraduate or graduate courses in financial accounting, tax and finance. This case provides an opportunity to analyze and evaluate stock buyback decisions in the context of the current controversy related to buybacks.

Entrepreneurship and strategy.

Undergraduate and graduates.

This is a case that can be used to teach advanced undergraduate classes or lower-level master's level classes in the areas of strategy, leadership and entrepreneurship. The case will appeal to SMEs, policymakers in the area of entrepreneurship funding, incubators and other funding firms associated with entrepreneurs.

As the case is specific to the United Arab Emirates (UAE) – it can be used to study UAE or the Middle East North Africa region. Ideally, students should be encouraged to read up on the region/country prior to studies. They should also understand the need and state of entrepreneurship in the region.

Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

In 2015, Toyota proposed to issue a separate class of shares to attract long term individual Japanese shareholders aligned with the company's long-term R&D programmes. The distinguishing feature of these shares was the exit option with no loss of capital. The proposal was not received well by US based institutional shareholders of the company and proxy. A major proxy adviser recommended voting against the proposal. The case provides an opportunity to discuss security design issues and their implications for corporate governance.

Entrepreneurship, management and emerging markets.

Undergraduate and Graduate courses in Entrepreneurship, Managing in Developing Countries/Emerging Markets, Small Business Management, Social Entrepreneurship, International Business

IntEnt is a business incubator that provides training and other support services to nascent entrepreneurs, helping turn their investment ideas into successful business ventures. But IntEnt focuses on a unique clientele: diasporas, or migrants and their descendants, who dream of establishing a new venture back in their country of origin.The incubator is well known and respected by policymakers and migrants alike. Despite these successes, Mr Molenaar has struggled to grow and diversify IntEnt's funding base. He also is under increasing pressure from the foundation's stakeholders to define and measure the foundation's performance. But Molenaar is committed to expanding IntEnt's operations and continue to bridge the divide between diaspora investment interest and action.

To understand and describe the financial-, human-, and social-capital challenges faced by transnational diaspora business ventures during the business development and launch phase.To explain how business incubators can provide solutions to the specific, unique problems that transnational diaspora entrepreneurs face, particularly in emerging markets. To discuss the governance challenges associated with operating a transnational business venture as well as those of an incubator aimed to support transnational entrepreneurship.

Teaching note.

The Hotel Perennial case puts students in the shoes of Dan Jameson, founder and CEO of a boutique real estate private equity firm called EL Investments (ELI), as he wrestles with the decision of whether or not to acquire the distressed Hotel Perennial, a 194-room hotel on the north side of Chicago, Illinois. When making the investment decision, Jameson (and students) must consider various factors: What is ELI's implicit investment strategy, and what are the firm's core competencies? What are Jameson's goals for growing ELI, and how might the acquisition of the Hotel Perennial fit with those goals? What opportunities and challenges might ELI face if it decides to acquire the hotel? How much would a buyer likely have to pay for the Hotel Perennial to achieve an attractive return? In addition to containing a hotel valuation and modeling exercise, the Hotel Perennial case also exposes students to several real estate industry concepts and terminologies, including those regarding the hotel sector, equity sourcing, and distressed investing. The case material assumes that students have taken an introductory real estate finance course or have relevant work experience.

-Show students how an investment decision can go beyond simply “crunching numbers” and projecting an internal rate of return to include considering an individual's or firm's strategic objectives and core competencies. Students should think through how to