Publications

April 2011
Article

Private Equity and Long-Run Investment: The Case of Innovation

By: Josh Lerner, Morten Sorensen and Per Stromberg

A long-standing controversy is whether LBOs relieve managers from short-term pressures of dispersed shareholders, or whether LBO funds themselves are driven by short-term profit motives and sacrifice long-term growth to boost short-term performance. We investigate 495... View Details

Keywords: Patents; Private Equity; Leveraged Buyouts; Investment; Innovation and Invention

Find at Harvard

November 2003 (Revised May 2008)
Case

Atlas Electrica: International Strategy

By: Michael E. Porter and Arturo Condo

Atlas must decide whether to acquire La Indeca, increasing its Central American presence, or to focus on larger Latin American markets where higher growth is possible. In the year 2000, Jorge Rodriguez was in charge of Atlas Electrica, the largest home appliance firm... View Details

Keywords: Acquisition; Growth and Development Strategy; Markets; Partners and Partnerships; Competition; Expansion; Latin America; Central America

June 2001
Case

ESL Golf (A)

By: Carliss Y. Baldwin and Christopher R Gordon

Todd Peterson and his colleagues have spent five weeks analyzing CMP Capital Partners' potential leveraged buyout of ESL Golf. They are about to present their analysis and bid proposal to the investment committee, consisting of all CMP partners, which must approve any... View Details

Keywords: Leveraged Buyouts; Private Equity; Auctions; Bids and Bidding; Valuation

June 2024
Teaching Note

Dirk Nowitzki: Changing the Game

By: Boris Groysberg, Katherine Connolly Baden and Robin Abrahams

Teaching Note for HBS Case No. 420-031. NBA Superstar Dirk Nowitzki was unsure whether the 2018-19 season would be his last as an NBA player. He had not faced such uncertainty since 1998, when he had navigated a difficult decision regarding the timing of his move to... View Details

Keywords: Problems and Challenges; Practice; Retirement; Work-Life Balance; Success; Knowledge Acquisition; Knowledge Sharing; Knowledge Use and Leverage; Growth and Development; Philanthropy and Charitable Giving; Performance; Sports Industry; United States

19 Jul 2016
First Look

July 19, 2016

https://cb.hbsp.harvard.edu/cbmp/product/316156-PDF-ENG Harvard Business School Case 216-021 Doctor My Eyes: The Acquisition of Bausch & Lomb by Warburg Pincus In early 2010, senior partners at Warburg Pincus met to review a report on... View Details

Keywords: Sean Silverthorne

30 Aug 2011
First Look

First Look: August 30

nutrition, health, and wellness (NHW) company in the world. Over the next 13 years, the NHW strategy guided strategic decisions and choices at Nestlé including merger and acquisition choices, strategies for improving products, and... View Details

Keywords: Sean Silverthorne

07 Nov 2006
First Look

First Look: November 7, 2006

http://www.hbs.edu/research/pdf/06-024.pdf Cases & Course MaterialsNone PublicationsChallenges in Managing Large Projects Editors:J. Ronald Fox and Donn B. Miller Publication:Defense Acquisition University Press, 2006 Abstract... View Details

Keywords: Sean Silverthorne

02 Jan 2018
First Look

First Look at New Research and Ideas, January 3, 2018

Vegemite, the iconic Australian spread. The team must decide whether to bid for the division and, if so, how much to offer and how to finance the all-cash bid. Making these decisions was difficult because this would be Bega’s largest View Details

Keywords: Sean Silverthorne

10 Nov 2015
First Look

November 10, 2015

acquisition (CPA). However, these standard online advertising metrics are plagued with attribution problems and do not account for dynamics. These issues can easily lead firms to overspend on some actions and thus waste money and/or... View Details

Keywords: Sean Silverthorne

22 Apr 2002
Lessons from the Classroom

Entrepreneurship: It Can Be Taught

enough good information to continue? HS: The running of the experiments is actually part of the resource acquisition strategy. Starting with a belief and an idea, how does the entrepreneur prove a project's viability to potential backers?... View Details

Keywords: by Staff

23 Jul 2024
In Practice

The New Rules of Trade with China: Navigating Tariffs, Turmoil, and Opportunities

Chinese companies. Nippon Steel’s proposed acquisition of U.S. Steel has all but been blocked despite the Japanese firm’s planned $1.4 billion investment to improve U.S. Steel’s older mills. When assessing regulatory risks as a... View Details

Keywords: by Rachel Layne; Manufacturing; Retail; Fashion; Industrial Products; Consumer Products; Steel; Transportation; Telecommunications

31 Mar 2009
First Look

First Look: March 31, 2009

or is it still too early?" Dick Costolo wondered as he reflected on the latest acquisition offer. He had been building FeedBurner with his three co-founders for almost four years and was staring at the details of an View Details

Keywords: Martha Lagace

March 2011
Supplement

Countrywide plc (CW)

By: Stuart C. Gilson and Sarah L. Abbott

One of the world's leading investors in distressed companies, Oaktree Capital Management is contemplating a "loan to own" investment in the debt f Countrywide plc, a financially troubled residential real estate agent based in the U.K. Only sixteen months earlier,... View Details

Keywords: Leveraged Buyouts; Restructuring; Economic Slowdown and Stagnation; Assets; Borrowing and Debt; Private Equity; Insolvency and Bankruptcy; Investment Portfolio; Crisis Management; Strategy; Valuation; Real Estate Industry; United Kingdom

October 2010
Teaching Note

From Imitation to Innovation: Zongshen Industrial Group (TN)

By: Willy C. Shih

Teaching Note for 610057. View Details

Keywords: Innovation and Invention; Transformation; Problems and Challenges; Taxation; Information Technology; Selection and Staffing; Talent and Talent Management; Corporate Strategy; Acquisition; Technology Adoption; Supply Chain; Motorcycle Industry

June 1991
Case

Continental Carriers, Inc.

By: W. Carl Kester

A U.S. trucking company is considering using debt for the first time to acquire another company. The directors of the company are divided in their opinion of the likely impact of leverage on Continental Carriers' performance. Their differences must be reconciled and a... View Details

Keywords: Debt Securities; Financing and Loans; Acquisition; Borrowing and Debt; Equity; Transportation Industry; United States

December 1999 (Revised February 2001)
Case

CVS: The Web Strategy

By: John A. Deighton and Anjali C. Shah

How should America's second-largest pharmacy chain respond to the challenge from online drugstores? What threat does the web pose to bricks and mortar distribution of prescription drugs and the other items that make up 50% of a drugstore's sales? This case describes... View Details

Keywords: Leveraged Buyouts; Marketing Channels; Distribution Channels; Service Operations; Corporate Strategy; Pharmaceutical Industry; Web Services Industry

2002
Chapter

Bridging Knowledge Gaps: Learning in Geographically Dispersed Cross-Functional Development Teams

By: D. Sole and A. Edmondson

Keywords: Knowledge Sharing; Knowledge Acquisition; Learning; Groups and Teams; Geographic Location; Organizational Structure

August 2008
Teaching Note

Tad O'Malley: The Investment Conundrum (TN)

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Teaching Note for [808125]. View Details

Keywords: Investment; Opportunities; Leveraged Buyouts; Personal Development and Career; Resource Allocation

March 2008 (Revised May 2008)
Case

Carlyle Japan (A)

By: David B. Godes, Masako Egawa and Mayuka Yamazaki

Tamotsu Adachi, Managing Director of Carlyle Japan, wants to formulate a strategy to improve his firm's ability to source high-quality deals at competitive valuations, or prices. Buyout funds like Carlyle typically have two deal phases: sourcing and monitoring. These... View Details

Keywords: Financial Instruments; Leveraged Buyouts; Supply Chain Management; Marketing Channels; Sales; Financial Services Industry; Japan