Publications

October 2020 (Revised December 2020)
Case

AfricInvest: A Pan-African Investment Platform

By: Victoria Ivashina and Youssef Abdel Aal

The case is set in December 2018, when Ziad Oueslati, co-managing director and co-founder of AfricInvest, a leading pan-African private equity firm headquartered in Tunisia, was reflecting on the future direction of his firm. AfricInvest started as a traditional small... View Details

Keywords: Finance; Private Equity; Venture Capital; Strategy; Governance; Financial Services Industry; Tunisia; Africa; Middle East

October 2020 (Revised March 2022)
Case

Automercados Plaza's: Surviving Venezuela's Hyperinflation

By: Alberto Cavallo, Mariana Cal and Carla Larangeira

Under the rule of presidents Hugo Chávez and Nicolas Maduro, Venezuela experienced one of the worst economic and political meltdowns in modern history, culminating with a massive hyperinflation. Remarkably, during this dramatic times Automercados Plaza's had grown to... View Details

Keywords: Hyperinflation; Populism; Inflation and Deflation; Macroeconomics; Management; Strategy; Organizational Change and Adaptation; Business and Government Relations; Retail Industry; South America; Venezuela

October 2020
Supplement

Blue Haven Initiative: The PEGAfrica Investment

By: Vikram S Gandhi

October 2020 (Revised November 2020)
Case

Digging for Gold: Paulson & Co.'s Activism in the Gold Sector

By: Suraj Srinivasan and Jonah S. Goldberg

The case describes the efforts of hedge fund Paulson & Co to influence corporate governance and improve performance in the gold industry. In an innovative move, the hedge fund led the creation of the Shareholder Gold Council, a consortium of large investors in gold... View Details

Keywords: Board Of Directors; Hedge Funds; Shareholder Activism; Gold; Corporate Governance; Governing and Advisory Boards; Investment Funds; Investment Activism; Performance Improvement; Corporate Accountability; Mining Industry; Canada; United States

October 2020
Technical Note

Country, Sector, Stock: A Framework for International Equity Investors

By: Dante Roscini and Vera Trojan

October 2020 (Revised August 2022)
Case

Epic Games: Nineteen Eighty-Fortnight

By: Andy Wu, Miaomiao Zhang and Christopher Zhang

In the midst of intensifying public and political attention towards the market power of big technology, Epic Games in 2020 challenged the status quo that has existed for years in the Apple iOS and Google Android mobile application marketplaces and payment systems.... View Details

Keywords: Mobile Platforms; Mobile App Industry; Mobile Payment Systems; Antitrust; Games, Gaming, and Gambling; Mobile and Wireless Technology; Lawsuits and Litigation; Entrepreneurship; Competitive Strategy; Digital Platforms; United States

October 2020
Supplement

Essent: From a State-Owned Utility to a Commercial Company (B)

By: Ananth Raman and Elena Corsi

Keywords: Lean Management; Operation Management; Organizational Change and Adaptation; Energy Industry; Netherlands

October 2020 (Revised December 2020)
Case

Investing at Pivotal Ventures

By: Emil N. Siriwardane, Emily R. McComb and Eren Kuzucu

Launched in 2015 by Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, Pivotal Ventures is an investment and incubation company. The company aims to support and promote transformational ideas, people and organizations, and advance social progress for women... View Details

Keywords: Investment; Management; Mission and Purpose; Venture Capital

October 2020 (Revised February 2021)
Case

The Tulsa Massacre and the Call for Reparations

By: Mihir A. Desai, Suzanne Antoniou and Leanne Fan

How should historic social injustices be addressed? Survivors of the 1921 Tulsa Massacre and their descendants, including Representative Regina Goodwin of Tulsa, believe they should be addressed through reparations and have consequently continued to push the government... View Details

October 2020 (Revised July 2023)
Case

UCK Partners: Gong Cha

By: Victoria Ivashina and Sangyun Lee

In the Spring of 2017, Soomin Kim, Founding Partner of UCK Partners, and his team were debating the potential exit of UCK Partner’s investment in Gong Cha Korea, the sole local franchisor of the premium milk tea brand that they proprietarily sourced three years ago.... View Details

Keywords: Exit; Strategic Decision Making; Private Equity; Investment; Strategy; Investment Return; Decision Making; Bids and Bidding

October 2020 (Revised February 2024)
Case

Divesting Harvard's Endowment

By: Daniel Green, Luis M. Viceira and Holly Fetter

By early 2020 Harvard University was facing growing pressure from students, faculty, and alumni to divest its $40 billion endowment of financial stakes in fossil fuel producers. Its previous policy of avoiding the issue was quickly becoming outdated—$21 trillion of... View Details

Keywords: Divestment; Harvard University; ESG; Higher Education; Investment Portfolio; Environmental Sustainability; Strategy; Corporate Social Responsibility and Impact

October 2020
Case

Fiscal Responses to COVID-19

By: Rawi Abdelal, Rafael Di Tella, Vincent Pons and Galit Goldstein

For the first half of 2020, the COVID-19 crisis seemed on the verge of spiraling out of control. The business world struggled to figure out what COVID meant for macroeconomics. Extended restrictions limiting human interaction meant an end to normal economic production,... View Details

Keywords: Fiscal Policy; COVID; COVID-19; Economic Analysis; Economic Downturn; Economic Conditions; Economic Governance; Economic Systems; Economy; Health Pandemics; Finance; Policy; United States; Germany; France; European Union

October 2020 (Revised May 2023)
Exercise

SenseAim Technologies: Pricing to Win

By: Elie Ofek, Eyal Biyalogorsky, Marco Bertini and Oded Koenigsberg

This exercise serves to help students understand the proper role and use of costs in a firm’s pricing decisions. The exercise is designed such that the learning of students evolves across a classroom session, starting from understanding which costs are relevant when... View Details

Keywords: Pricing Decisions; Cost; Information; Price; Decision Making

October 19, 2020
Article

Today's Leaders Need Vulnerability, Not Bravado

By: Amy C. Edmondson and Tomas Chamorro-Premuzic

Few myths are as pervasive as the notion that leaders ought to appear tough and confident. Or at least, that was the case prior to the current pandemic, which has exposed the many weaknesses of forceful, dominant leaders and highlighted the superiority of those who... View Details

Keywords: Leadership; Leadership Style

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2020
Working Paper

An Executive Order Worth $100 Billion: The Impact of an Immigration Ban's Announcement on Fortune 500 Firms' Valuation

By: Dany Bahar, Prithwiraj Choudhury and Britta Glennon

On June 22, 2020, President Trump issued an Executive Order (EO) that suspended new work visas, barring nearly 200,000 foreign workers and their dependents from entering the United States and preventing American companies from hiring skilled immigrants using H-1B or L1... View Details

Keywords: Visa; Foreign Workers; Fortune 500; Immigration; Policy; System Shocks; Business Ventures; Valuation

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16 Oct 2020
Keynote Speech

Evolving Board Practices Amidst the Pandemic

By: Lynn S. Paine

October 2020 (Revised August 2022)
Case

Union Square Hospitality Group: Hospitality Included

By: Peter Boumgarden, Ryan W. Buell, Lamar Pierce and Richard Ryffel

In 2015, Union Square Hospitality Group (USHG), helmed by famous restauranteur Danny Meyer, sent shockwaves through the restaurant industry by announcing the end of tipping in its restaurants. Under its new policy, Hospitality Included (HI), USHG would charge higher... View Details

Keywords: Restaurants; Tipping; Revenue Sharing; Service Operations; Policy; Change; Human Resources; Management; Food and Beverage Industry

15 Oct 2020
Other Presentation

Pandemic Caused 'A Lot of Consumer-Driven Innovation': Harvard's Herzlinger

By: Regina E. Herzlinger

The "Godmother of consumer-driven health care" Regina Herzlinger of Harvard Business School and Bloomberg's Vonnie Quinn discuss how the pandemic is a wake-up call for how U.S. health care is incentivized, and what can be done to improve the delivery of American... View Details

Keywords: COVID-19; Health Care Industry; Health Pandemics; Health Care and Treatment; Service Delivery; Demand and Consumers; Health Industry; United States