Publications

2008
Working Paper

The Future of Social Enterprise

By: V. Kasturi Rangan, Herman B. Leonard and Susan McDonald

The Future of Social Enterprise considers the confluence of forces that is shaping the field of social enterprise, changing the way that funders, practitioners, scholars, and organizations measure performance. We trace a growing pool of potential funding sources to... View Details

Keywords: Social Entrepreneurship; Investment; Philanthropy and Charitable Giving; Performance Effectiveness; Social Enterprise; Consolidation; Value

Read Now

2024
Working Paper

Fire Sales of Safe Assets

By: Gabor Pinter, Emil Siriwardane and Danny Walker

We use trade-level data to study price pressure effects in the UK gilt market from September to October 2022. During this period, forced sales by liability-driven investment funds (LDIs) led to price discounts on the order of 10%, accounting for roughly half the total... View Details

Keywords: Investment Funds; Capital Markets; United Kingdom

Read Now

20 Oct 2010
Working Paper Summaries

Financing Risk and Bubbles of Innovation

Keywords: by Ramana Nanda & Matthew Rhodes-Kropf; Financial Services

January 2014 (Revised January 2014)
Case

Showdown at Cracker Barrel

By: Suraj Srinivasan and Tim Gray

In the fall of 2011, activist investor, Sardar Biglari, has acquired nearly 10% ownership in the Cracker Barrel restaurant chain. He believes that the board and senior management have failed and the company has underperformed relative to its peers. When he is denied a... View Details

22 Apr 2015
HBS Seminar

Riitta Katila, Stanford School of Engineering

June 2014 (Revised February 2017)
Case

Kathy Giusti and the Multiple Myeloma Research Foundation

By: Richard G. Hamermesh, Joshua D. Margolis and Matthew G. Preble

What do you do when your rising professional career is cut short by an unexpected cancer diagnosis? Kathy Giusti shifted careers, built a new organization that transformed how cancer research is done, and now faces the challenge of sustaining the organization and its... View Details

The adjustment costs of science -- getting scientists to study what you want them to -- are very large.

Abstact: This paper identifies the degree to which scientists are willing to change the direction of their work in exchange for resources.... View Details

February 1997
Case

Advent of Venture Capital in Latin America, The

By: Debora L. Spar

Widely regarded as the leader in international private equity, Advent International is considering the establishment of a private equity fund in Latin America in 1996. Typically, Advent entered new private equity markets through the creation of multicountry regional... View Details

Keywords: Venture Capital; Joint Ventures; Market Entry and Exit; Globalized Markets and Industries; Financial Services Industry; Boston; Latin America

Find at Harvard

08 Jul 2008
Research & Ideas

Colloquium: The Future of Social Enterprise

changing the way that funders, practitioners, scholars, and organizations measure performance. Our paper traces a growing pool of potential funding sources to solve social problems, much View Details

Keywords: Re: V. Kasturi Rangan & Dutch Leonard

29 Jul 2020
Working Paper Summaries

Two Case Studies on the Financing of Forest Conservation

Keywords: by Andrew Baxter, Connor Cash, Josh Lerner, and Ratnika Prasad

July 2012 (Revised April 2013)
Case

Peter Jepsen

By: Howard H. Stevenson, Michael J. Roberts and James M. Sharpe

About to break bank covenants, Peter Jepsen has to deal with a contentious prior owner, improve profitability and staff appropriately all while maintaining credibility with his investors, in the furniture hardware company he has owned for less than a year. View Details

19 Sep 2012
Research & Ideas

Book Excerpt: “The Architecture of Innovation”

venture investors are not needed. For most of its history, Intel's fund has emphasized making passive investments in a wide variety of companies in selected categories,... View Details

Keywords: by Josh Lerner; Financial Services

January 2018
Article

The Globalization of Angel Investments: Evidence Across Countries

By: Josh Lerner, Antoinette Schoar, Stanislav Sokolinski and Karen Wilson

This paper examines investments made by 13 angel groups across 21 countries. We compare applicants just above and below the funding cutoff and find that these angel investors have a positive impact on the growth, performance, and survival of firms as well as their... View Details

Keywords: Entrepreneurship; Globalization; Investment; Business Startups

Find at Harvard

October 2014 (Revised April 2018)
Supplement

Creditor Activism in Sovereign Debt: Argentina vs. Holdout Investors (B)

By: Laura Alfaro, Gaurav Toshniwal and Hilary White

03 Jul 2008
Working Paper Summaries

The Future of Social Enterprise

Keywords: by V. Kasturi Rangan, Herman B. Leonard & Susan McDonald

06 Nov 2000
Research & Ideas

The Determinants of Corporate Venture Capital Success

Corporate-sponsored venture funds first appeared in the 1960s, about two decades after the first flowering of the venture capital industry. Ever since, they have mirrored the cyclic nature View Details

Keywords: by Paul Gompers & Josh Lerner

21 Jun 2011
News

HBS's Lion of Entrepreneurship on Five Start-up Choices

December 2008 (Revised July 2010)
Case

TravelCenters of America

By: Robin Greenwood, Daniel Jacob Goldberg and James Quinn

A New York-based hedge fund must decide whether to invest in TravelCenters of America (TA), a recent spin-off from a U.S.-based real estate investment trust. The case confronts students with the question: To what extent is this spin-off opportunity attractive from a... View Details

Keywords: Mergers and Acquisitions; Investment; Valuation; Real Estate Industry; Travel Industry; United States