Publications

Profile

David Velasquez

Traveling across the world, while sitting in a classroom and roaming the halls of Spangler. You learn about discounted cash flows, strategy, and leadership at HBS – while also enhancing your understanding of... View Details

Web

Research - Private Capital Project

four main types of commercial credit—asset-based loans, cash flow loans, trade finance and leasing—are easily identifiable and represent the bulk of corporate credit. We show that credit growth dynamics...... View Details

September 2022 (Revised January 2023)
Case

Bear to Bull: An Analyst’s Journey with Netflix

By: Aiyesha Dey, Joseph Pacelli, Jennifer G. Lawson and Tom Quinn

Wedbush Securities analyst Michael Pachter said “hell freezing over” was more likely than him upgrading the “sell” rating he had maintained on movie and television streaming giant Netflix since 2011, despite meteoric subscriber and share price growth. In 2022, however,... View Details

Keywords: Accounting; Asset Pricing; Cash Flow; Investment; Stocks; Equity; Analysis; Attitudes; Financial Services Industry; Entertainment and Recreation Industry; United States

22 Jul 2002
Research & Ideas

Is Performance-Based Pricing the Right Price for You?

important ones. But, some limited variants can also be useful. "Point" guarantees such as penalty clauses which involve a discount when delivery is late are a simple form of performance-based pricing. Penalty clauses are... View Details

Keywords: by Benson Shapiro; Manufacturing

Fast Answer

What are the best finance interview prep resources?

(screening) and profiles of VCPE firms, investment banks, and investment management firms Morningstar cash flow models Key members of the management team League tables Capital IQ - For a multimedia... View Details

June 2009
Case

Midland Energy Resources, Inc.: Cost of Capital

By: Timothy A. Luehrman and Joel L. Heilprin

The senior vice president of project finance for a global oil and gas company must determine the weighted average cost of capital for the company as a whole and each of its divisions as part of the annual capital budgeting process. The case uses comparable companies to... View Details

Keywords: Risk Assessment; Risk and Uncertainty; Risk Management; Cost of Capital; Cash Flow; Capital Structure; Valuation; Capital Budgeting; Energy Industry

Web

Business History - Faculty & Research

; Capital Structure ; Cash Flow ; Corporate Finance ; Equity ; Stock Shares ; Corporate Governance ; Business History ; Compensation and Benefits ; Recruitment ; Leadership Style ; Growth Management ;... View Details

15 Jul 2019
Book

Many Executives Are Afraid of Finance. Here's How They Can Gain Confidence

have been the preferred method. Is this good or bad? Desai: Much as free cash flow was a little-used metric 30 years ago and is now dominant, the capital allocation problem is now the dominant financial... View Details

Keywords: by Dina Gerdeman

Web

HBS - Financials | Financial Highlights

2021 Annual Report From The Dean Financials PDF Downloads Archive Financials 5 Year Summary From the CFO Financial Highlights Statement of Activity & Cash Flows Consolidated Balance Sheet Supplemental... View Details

Web

HBS - Financials | Supplemental Financial Information

2021 Annual Report From The Dean Financials PDF Downloads Archive Financials 5 Year Summary From the CFO Financial Highlights Statement of Activity & Cash Flows Consolidated Balance Sheet Supplemental... View Details

04 Apr 2018
Research & Ideas

Smart Cities are Complicated and Costly: Here's How to Build Them

Chombosan Much promotion of smart cities assumes that municipalities will take a proactive, top-down, technology-first approach to urban progress. Thus far, these initiatives look for some forward-thinking city official (or immensely deep-pocketed private investor) to... View Details

Keywords: by John Macomber; Construction; Green Technology

26 Nov 2001
Op-Ed

Why Corporate Budgeting Needs To Be Fixed

This results in an overstatement of earnings and cash flows for many companies and an exaggeration of the extent of the good times. Conversely, during the early stages of an economic slowdown, as demand... View Details

Keywords: by Michael C. Jensen

16 Apr 2020
Research & Ideas

Has COVID-19 Broken the Global Value Chain?

manufactured by another firm elsewhere, and distributed by dealers everywhere—all underwritten by global cash flows. Often these networks are established without much redundancy planning or other risk-mitigation factors to counter... View Details

Keywords: by Sean Silverthorne

Web

Global Opportunity Fellowship GO: AFRICA - Alumni

business today and why/how you will overcome them (examples might include competitive, regulatory, political risks). Describe your biggest recognized opportunities. Capital Requirements Define how much capital you will need prior to becoming View Details

11 Apr 2012
Research & Ideas

The High Risks of Short-Term Management

that larger firms, growth firms, and more profitable firms tend to be more long-term-oriented. In contrast, firms with a more volatile business model and cash flow profile tend to be more... View Details

Keywords: by Sean Silverthorne; Financial Services

May 2016 (Revised September 2017)
Case

Canadian Pacific's Bid for Norfolk Southern

By: Benjamin C. Esty and E. Scott Mayfield

In December 2015, Canadian Pacific Railroad (CPR) has just made its third bid to acquire Norfolk Southern Corporation (NSC), one of the largest railroads in the United States. Having rejected the prior offers, NSC’s CEO James Squires and the NSC board must now value... View Details

Keywords: Capital Structure; Cash Flow; Cost of Capital; Financial Strategy; Investment Activism; Bids and Bidding; Negotiation Offer; Corporate Strategy; Rail Transportation; Mergers and Acquisitions; Transformation; United States; Canada