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Case
-
Reference no. 114-056-1
Published by:
INSEAD (2014)
Version:
06.2015
Length:
14 pages
Data source:
Published sources
Abstract:
In late 2011, Infineon (IFX), a German semiconductor company, is sitting on a 2.4bn euros cash balance representing 40% of its assets. As part of a financial policy review, management is receiving conflicting advice from different quarters as to whether to pay out some of the cash holdings, how much and by which methods. Please visit the dedicated case website http://cases.insead.edu/infineon-technologies/ to access additional teaching material. The issues covered include (1) the need to link financial policy to business fundamentals, (2) the costs and benefits of holding cash, and why highly cyclical, knowledge-based, capital-intensive companies like IFX need large cash reserves, (3) the mechanics and rationales for different payout methods (eg, cash dividends, share buybacks, etc).
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Prizes won:
2014 - EFMD Case Writing Competition - category winner
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