This study examines whether case-based learning (CBL) in a core finance class improves student performance. It analyzes students' exam scores over two semesters at a regional U.S. public university. During the first semester, CBL is used to teach two sections of an intermediate corporate finance class. During the subsequent semester, the first half of the semester is taught using CBL while the second half of the semester is taught using problem-based learning (PBL). The difference-in-differences analysis shows that the advantage of CBL over PBL approach is noticeable. Additionally, the analysis of students' grade distributions appears to show that the CBL approach lifts students at both the top and bottom strata.