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Show Results For
-
All HBS Web
(2,476)
- People (12)
- News (618)
- Research (1,458)
- Events (6)
- Multimedia (13)
- Faculty Publications (757)
- 2010
- Working Paper
Making the Numbers? 'Short Termism' and the Puzzle of Only Occasional Disaster
By: Nelson P. Repenning and Rebecca Henderson
Much recent work in strategy and popular discussion suggests that an excessive focus on "managing the numbers"—delivering quarterly earnings at the expense of longer-term investments—makes it difficult for firms to make the investments necessary to build competitive...
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Keywords:
Investment;
Performance Improvement;
Competitive Advantage;
Earnings Management;
Management Practices and Processes;
Revenue;
Quality;
Competency and Skills;
Motivation and Incentives;
Auto Industry;
United States
Repenning, Nelson P., and Rebecca Henderson. "Making the Numbers? 'Short Termism' and the Puzzle of Only Occasional Disaster." Harvard Business School Working Paper, No. 11-033, September 2010.
- Article
Survive Another Day: Using Changes in the Composition of Investments to Measure the Cost of Credit Constraints
By: Luis Garicano and Claudia Steinwender
We introduce a novel empirical strategy to measure the size of credit shocks. Theoretically, we show that credit shocks reduce the value of long-term relative to short-term investments. Empirically, we can therefore compare the reduction of long-term relative to...
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Keywords:
Credit Constraints;
Credit Crunch;
Spain;
Investment Behavior;
Credit Squeeze;
Financial Crisis;
Economic Growth;
Investment;
Credit;
Manufacturing Industry;
Spain;
European Union
Garicano, Luis, and Claudia Steinwender. "Survive Another Day: Using Changes in the Composition of Investments to Measure the Cost of Credit Constraints." Review of Economics and Statistics 98, no. 5 (December 2016): 913–924.
- 02 Nov 2010
- Working Paper Summaries
Making the Numbers? ‘Short Termism’ & the Puzzle of Only Occasional Disaster
- November 2001
- Case
Gold Kist Inc.
By: Ray A. Goldberg and Stephanie Oestreich
An oversupply of poultry causes a major decrease in margins for the company and the industry. How does the only cooperative in the industry respond to short-term and long-term economic pressures?
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- 2023
- Working Paper
Interest-Rate Risk and Household Portfolios
By: Sylvain Catherine, Max Miller, James Paron and Natasha Sarin
How are households exposed to interest-rate risk? When rates fall, households face lower future expected returns but those holding long-term assets—disproportionately the wealthy and middle-aged—experience capital gains. We study the hedging demand for long-term assets...
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Keywords:
Portfolio Choice;
Social Security;
Interest Rates;
Investment Portfolio;
Equality and Inequality;
Welfare
Catherine, Sylvain, Max Miller, James Paron, and Natasha Sarin. "Interest-Rate Risk and Household Portfolios." Working Paper, October 2023. (Reject and Resubmit, American Economic Review.)
- May 2017 (Revised February 2024)
- Case
Battle for the Soul of Capitalism: Unilever and the Kraft Heinz Takeover Bid (A)
By: William W. George and Amram Migdal
This case describes Kraft Heinz Company’s (KHC) February 2017 unsolicited $143 billion takeover offer to acquire Unilever. The offer was made to Unilever CEO Paul Polman by KHC chairman Alexandre Behring, who was also co-founder and CEO of Brazilian-based 3G Capital...
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George, William W., and Amram Migdal. "Battle for the Soul of Capitalism: Unilever and the Kraft Heinz Takeover Bid (A)." Harvard Business School Case 317-127, May 2017. (Revised February 2024.)
- November 2003
- Article
The Maturity of Debt Issues and Predictable Variation in Bond Returns
By: Malcolm Baker, Robin Greenwood and Jeffrey Wurgler
The maturity of new debt issues predicts excess bond returns. When the share of long-term debt issues in total debt issues is high, future excess bond returns are low. This predictive power comes in two parts. First, inflation, the real short-term rate, and the term...
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Keywords:
Borrowing and Debt;
Bonds;
Investment Return;
Financial Markets;
Forecasting and Prediction
Baker, Malcolm, Robin Greenwood, and Jeffrey Wurgler. "The Maturity of Debt Issues and Predictable Variation in Bond Returns." Journal of Financial Economics 70, no. 2 (November 2003): 261–291.
- August 2003 (Revised May 2009)
- Background Note
Basic Venture Capital Formula, The
By: William A. Sahlman and Matthew Willis
Briefly summarizes the process that venture capitalists use to analyze high-risk, long-term investments. Contains information on methods that can be used to calculate valuation, share price, percent ownership, implied valuation, dilution, and option pools.
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Sahlman, William A., and Matthew Willis. "Basic Venture Capital Formula, The." Harvard Business School Background Note 804-042, August 2003. (Revised May 2009.)
- November 2010 (Revised May 2012)
- Background Note
Assessing a Company's Future Financial Health
By: Thomas R. Piper
The case provides students with (1) an understanding of the essence of long-term financial health; (2) familiarity with the calculation and meaning of various financial ratios; and (3) an understanding of the influence of a company's operating and competitive...
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Keywords:
Financial Condition;
Forecasting and Prediction;
Investment Return;
Operations;
Competitive Strategy
Piper, Thomas R. "Assessing a Company's Future Financial Health." Harvard Business School Background Note 911-412, November 2010. (Revised May 2012.)
Erik Stafford
Erik Stafford joined the faculty at HBS in July 1999, where he has taught finance in the required and elective curricula of the MBA Program and in the CFA Investment Management Workshop.
Erik's research efforts focus on investment management, capital... View Details
Keywords:
financial services
- October 2018
- Case
Accomplice: Scaling Early Stage Finance
By: Ramana Nanda, Raffaella Sadun and Olivia Hull
Accomplice, an early-stage venture capital firm based in Boston, is raising its second fund in November 2017. Since 2009, the firm has followed a seed-led investment model, investing in tech companies at the earliest stages, often when products and business models are...
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Keywords:
Early Stage Finance;
Seed Finance;
Scouts;
Venture Capital;
Business Startups;
Private Equity;
Investment Portfolio;
Organizational Structure;
Organizational Change and Adaptation;
Partners and Partnerships;
Networks;
Adaptation;
Corporate Strategy;
Technology;
Financial Services Industry;
Massachusetts;
Boston;
Cambridge;
United States
Nanda, Ramana, Raffaella Sadun, and Olivia Hull. "Accomplice: Scaling Early Stage Finance." Harvard Business School Case 719-403, October 2018.
- 06 Feb 2015
- News
Online Lending: A Boon for Young and Small Companies?
- December 2003 (Revised October 2006)
- Case
Maverick Capital
By: Andre F. Perold, Chris McIsaac and Marc Ricks
Maverick Capital, a $7 billion hedge fund, faced a number of long-term strategic questions, particularly the issue of growth. With all of its assets invested with one strategy, Maverick was already managing more capital in a dedicated approach than any hedge fund in...
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Keywords:
Assets;
Capital;
Stocks;
Financial Strategy;
Investment Funds;
Investment Portfolio;
Growth and Development Strategy
Perold, Andre F., Chris McIsaac, and Marc Ricks. "Maverick Capital." Harvard Business School Case 204-013, December 2003. (Revised October 2006.)
- September 2006 (Revised March 2007)
- Case
Recruitment of a Star
By: Boris Groysberg, Stephen Balog and Jennifer Haimson
Details power dynamics that unfold in the firm when one of its best and brightest threatens to leave. It focuses on the dynamics of attracting, hiring, compensating, negotiating, and leveraging a star performer in a professional service firm. In particular, traces the...
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Keywords:
Talent and Talent Management;
Compensation and Benefits;
Recruitment;
Resignation and Termination;
Selection and Staffing;
Job Interviews
Groysberg, Boris, Stephen Balog, and Jennifer Haimson. "Recruitment of a Star." Harvard Business School Case 407-036, September 2006. (Revised March 2007.)
- 13 Jan 2016
- Working Paper Summaries
Forward Guidance in the Yield Curve: Short Rates versus Bond Supply
- August 2006 (Revised September 2006)
- Case
Scopie's Enlarged Gland Shrinker
Describes a firm that markets a laser for a fictional problem. Asks readers to evaluate Scopie's marketing and production strategy (it plans to start in India and then expand to the United States) and its long-term viability.
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Herzlinger, Regina E. "Scopie's Enlarged Gland Shrinker." Harvard Business School Case 307-035, August 2006. (Revised September 2006.)
- April 1994 (Revised May 1995)
- Case
Laura Ashley (A): A New CEO Takes Charge
By: Richard L. Nolan
In a turnaround situation, a new CEO must take actions in the short term to gain control and exercise executive leadership and lay groundwork to formulate a long-term strategy to rebuild a viable business.
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Keywords:
Organizational Change and Adaptation;
Change Management;
Management Teams;
Business Strategy;
Consumer Products Industry;
Apparel and Accessories Industry
Nolan, Richard L. "Laura Ashley (A): A New CEO Takes Charge." Harvard Business School Case 194-142, April 1994. (Revised May 1995.)
- December 1990 (Revised December 1993)
- Supplement
Australian Paper Manufacturers (B)
By: David M. Upton and Joshua D. Margolis
Describes events that occur after the decision point in Australian Paper Manufacturers (A). With these facts and more detailed market projections, this case intensifies the long-term financial, strategic, and ethical decisions confronting the invader.
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Upton, David M., and Joshua D. Margolis. "Australian Paper Manufacturers (B)." Harvard Business School Supplement 691-043, December 1990. (Revised December 1993.)