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  • August 2013 (Revised December 2014)
  • Case

Taking Dell Private

By: David J. Collis, David B. Yoffie and Matthew Shaffer
In July 2012, Michael Dell, CEO and founder of Dell, Inc., met with a representative of Silver Lake Partners to explore taking his company private. The company, which he had founded in his dorm room as a college freshman and which had made him the youngest Fortune 500... View Details
Keywords: Strategy; Going Private; The PC Market; Market For Corporate Control; Corporate Strategy; Leveraged Buyouts; Change Management; Private Equity; Market Entry and Exit; Private Ownership; Information Infrastructure; Applications and Software; Internet and the Web; Computer Industry; Technology Industry; United States
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  • September 2023
  • Case

David Beckham (A)

By: Anita Elberse and David Moreno Vicente
In January 2022, superstar-athlete-turned-entrepreneur David Beckham is deciding on a proposal that has the potential to significantly change the trajectory of his business career: Authentic Brands Group (‘Authentic’) has offered to engage in a strategic partnership... View Details
Keywords: Joint Ventures; Decisions; Brands and Branding; Negotiation Offer; Partners and Partnerships; Sports
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  • 03 Nov 2013
  • News

The (advisory) ties that bind executive pay

  • 06 May 2013
  • News

Debate on Dimon's Role a Symbolic Fight

  • 2019
  • Chapter

Return on Invested Capital (ROIC)

By: Carliss Y. Baldwin
Return on invested capital (ROIC) is a financial measure of the profitability of a firm or business unit. If it is greater than the business's cost of capital, then reinvestment of earnings increases shareholder VALUE. The ROIC also determines a maximum self-sustaining... View Details
Keywords: Capital Efficiency; Dupont Analysis; Financial Metrics; Schumpeterian Competition; Sustainable Growth; Competitive Advantage; Financial Strategy; Resource Allocation; Valuation; Value Creation
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  • 2014
  • Working Paper

Further Evidence on Consequences of Debt Covenant Violations

By: Yu Gao, Mozaffar N. Khan and Liang Tan
We present new evidence on debt covenant violation (DCV) consequences that have not previously been examined in the literature. In particular, we show that a DCV triggers significant information asymmetry and uncertainty on the part of shareholders and auditors as... View Details
Keywords: Accounting
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  • January 2006 (Revised February 2006)
  • Case

Deutsche Borse and the European Markets

By: Dwight B. Crane and Monika Stachowiak
In December 2004, Deutsche Borse proposed an offer for the London Stock Exchange. Some shareholders opposed the acquisition, leading to the offer's withdrawal and replacement of management, including the CEO and board members. Written from the viewpoint of Deutsche... View Details
Keywords: Mergers and Acquisitions; Strategy; Governing and Advisory Boards; Capital Structure; Stocks; Valuation; Corporate Governance; Price; Change Management; Commercialization; Financial Services Industry; Europe
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  • 14 Feb 2007
  • News

Board Silly

  • 20 Oct 2011
  • News

Murdoch Foes Ask for Changes They Can't Force at News Corp.

    Best-selling and New Cases by Ben Esty

    Best-Selling (MOST POPULAR) Cases:  

      1) Eaton: Portfolio Transformation & Cost of... View Details

    • 05 May 2021
    • News

    How Do You Embed a Sense of Purpose Into a Company?

    • February 2014
    • Article

    Governance and CEO Turnover: Do Something or Do the Right Thing?

    By: Ray Fisman, Rakesh Khurana, Matthew Rhodes-Kropf and Soojin Yim
    We study how corporate governance affects firm value through the decision of whether to fire or retain the CEO. We present a model in which weak governance—which prevents shareholders from controlling the board—protects inferior CEOs from dismissal, while at the same... View Details
    Keywords: Governing and Advisory Boards; Value; Retention; Resignation and Termination; Corporate Governance; Management Teams; Business and Shareholder Relations
    Related
    • February 2022
    • Case

    Business Roundtable 2019 Statement: A New Paradigm or Business as Usual?

    By: Charles C.Y. Wang and Amram Migdal
    This note focuses on the antecedents of, reactions to, and clarifications about The Business Roundtable’s August 19, 2019, “Statement on the Purpose of a Corporation.” The note includes background information on corporate governance as practiced in the United States in... View Details
    Keywords: Corporate Accountability; Corporate Governance; Business History; Mission and Purpose; Agency Theory; Business and Shareholder Relations; Business and Stakeholder Relations; Corporate Social Responsibility and Impact; United States
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    • Article

    Agency Costs, Mispricing, and Ownership Structure

    By: Sergey Chernenko, C. Fritz Foley and Robin Greenwood
    Standard theories of corporate ownership assume that because markets are efficient, insiders ultimately bear all agency costs that they create and therefore have a strong incentive to minimize conflicts of interest with outside investors. We argue that if equity is... View Details
    Keywords: Business and Shareholder Relations; Ownership; Conflict of Interests; Investment; Valuation
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    • September 2020
    • Case

    Keeping It in the Family at the Hayden Saw Company

    By: V.G. Narayanan and John Masko
    In 2019, Board Chair and third-generation shareholder Helen Fullerton was preparing for a meeting to discuss Ohio-based Hayden Saw Company’s (Hayden) future as a family business. As the company entered its fifth decade, the Hayden family was dealing with three distinct... View Details
    Keywords: Family Business; Corporate Governance; Family Ownership; Business and Shareholder Relations; Family and Family Relationships; Governing and Advisory Boards; Construction Industry; Ohio; United States
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    • June 1993 (Revised November 2007)
    • Case

    Duckworth Industries, Inc.--Incentive Compensation Programs

    By: William E. Fruhan Jr.
    A private company is considering an introduction of a long-run incentive compensation system in which payoffs to managers are determined by the economic value added for shareholders by their individual business units. The proposed new system is compared to a number of... View Details
    Keywords: Executive Compensation; Management Teams; Business and Shareholder Relations; Motivation and Incentives; Value Creation
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    • May 2013
    • Article

    The Performance Frontier: Innovating for a Sustainable Strategy

    By: Robert G. Eccles and George Serafeim
    By now most companies have sustainability programs. They're cutting carbon emissions, reducing waste, and otherwise enhancing operational efficiency. But a mishmash of sustainability tactics does not add up to a sustainable strategy. To endure, a strategy must address... View Details
    Keywords: Sustainability; Innovation; Environment; Corporate Reporting; Corporate Social Responsibility; Governance; Strategy; Value; Corporate Social Responsibility and Impact; Performance; Environmental Sustainability; Innovation and Invention
    Related
    • 03 Feb 2017
    • News

    Snap’s Concentrated Power Structure Takes a Page From Old Media

    • 30 Sep 2015
    • News

    Why Wall Street Cannot Beat Buffett

    • 09 Aug 2013
    • News

    Beyond Ackman, JCP Fights for Survival