Publications
Publications
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- All HBS Web
(1,628)
- Faculty Publications (311)
- May–June 2020
- Article
Interfirm Ties Between Ventures and Limited Partners of Venture Capital Funds: Performance Effects in Financial Markets
By: Umit Ozmel, M. Deniz Yavuz, Timothy E. Trombley and Ranjay Gulati
We argue that strong indirect ties are conducive to the transfer of private information, which provides an advantage in identifying profitable investment opportunities. In our context, a strong indirect tie is generated between an investor and a focal firm if the... View Details
- March 2020
- Technical Note
Intrapreneurship: Leading Innovation Efforts in Established Organizations
By: Karen G. Mills and Annie Dang
“Intrapreneurship” is the use of entrepreneurial management techniques within established companies to create new environments that foster innovation. Mature firms have consistently faced risk of elimination from competitors, shifting consumer preferences, and... View Details
- March 2020
- Case
Voi Technology
By: Jeffrey F. Rayport and Olivia Hull
Voi Technology, a fast-growing start-up out of Sweden, is competing in the highly contested European e-scooter sharing market. With a presence in nearly 40 cities in Europe by February 2020, the firm is working hard to improve its unit economics to reach profitability.... View Details
Keywords: Entrepreneurship; Business Strategy; Technology Adoption; Innovation Strategy; Technological Innovation; Marketing Strategy; Business Plan; Product Marketing; Product Launch; Product Positioning; Energy Conservation; Cross-Cultural and Cross-Border Issues; Global Strategy; Globalized Economies and Regions; Innovation Leadership; Human Capital; Laws and Statutes; Growth Management; Operations; Logistics; Service Operations; Supply Chain Management; Organizational Culture; Information Infrastructure; Transportation; Transportation Industry; Technology Industry; Europe
- March 2020
- Article
Organizing Knowledge Production Teams Within Firms for Innovation
By: Vikas A. Aggarwal, David H. Hsu and Andy Wu
How should firms organize their pool of inventive human capital for firm-level innovation? While access to diverse knowledge may aid knowledge recombination, which can facilitate innovation, prior literature has focused primarily on one way of achieving that: diversity... View Details
- February 2020
- Case
Leading Change in Talent at L'Oréal
By: Lakshmi Ramarajan, Vincent Dessain and Emer Moloney
Jean-Claude Le Grand just stepped into a new role as Executive Vice-President for Human Resources at the global cosmetics company, L’Oréal. He is now responsible for the hiring, development, promotion, and retention of 83,000 employees worldwide. The highly successful... View Details
Keywords: Advertising; Business Headquarters; Business Divisions; Business Organization; Change; Change Management; Transformation; Competency and Skills; Experience and Expertise; Talent and Talent Management; Demographics; Diversity; Gender; Nationality; Multinational Firms and Management; Human Resources; Employees; Recruitment; Retention; Selection and Staffing; Innovation and Management; Jobs and Positions; Employment; Human Capital; Leadership; Leadership Development; Leadership Style; Leading Change; Management Practices and Processes; Marketing; Brands and Branding; Product Marketing; Organizations; Organizational Change and Adaptation; Organizational Structure; Personal Development and Career; Planning; Strategic Planning; Problems and Challenges; Networks; Social Psychology; Attitudes; Power and Influence; Social and Collaborative Networks; Business Strategy; Advertising Industry; Beauty and Cosmetics Industry; Consumer Products Industry; France; Paris
- January 2020
- Article
How Do Venture Capitalists Make Decisions?
By: Paul A. Gompers, William Gornall, Steven N. Kaplan and Ilya A. Strebulaev
We survey 885 institutional venture capitalists (VCs) at 681 firms to learn how they make decisions across eight areas: deal sourcing, investment selection, valuation, deal structure, post-investment value-added, exits, internal firm organization, and relationships... View Details
- January 2020
- Article
Rethinking Measurement of Pay Disparity and Its Relation to Firm Performance
By: Ethan Rouen
I develop measures of firm-level pay disparity and examine their relation to firm performance. Using comprehensive compensation data for a large sample of firms, I find no statistically significant relation between the ratio of CEO-to-mean employee compensation and... View Details
- December 2019 (Revised January 2021)
- Supplement
The Leveraged Buyout of TXU: (B) Energy Future Holdings
By: Trevor Fetter, Erik Snowberg and Rebecca M. Henderson
This case is designed to support a lively discussion about the relative merits of shareholder vs. stakeholder perspectives in the context of a company that provides a vital public service that has important environmental implications. The 2007 purchase of TXU, the... View Details
- December 2019 (Revised December 2022)
- Case
TXU (A): Powering the Largest Leveraged Buyout in History
By: Trevor Fetter, Erik Snowberg and Rebecca M. Henderson
This case is designed to support a lively discussion about the relative merits of shareholder vs. stakeholder perspectives in the context of a company that provides a vital public service that has important environmental implications. The 2007 purchase of TXU, the... View Details
Keywords: Leveraged Buyouts; Transformation; Insolvency and Bankruptcy; Environmental Sustainability; Business and Shareholder Relations; Business and Stakeholder Relations; Energy Generation; Non-Renewable Energy; Governing Rules, Regulations, and Reforms; Utilities Industry; Energy Industry; Texas
- October 2019
- Case
Impax Laboratories: Executing Accretive Acquisitions (A)
By: Benjamin C. Esty and Daniel Fisher
Impax Laboratories was a technology-based pharmaceutical company that used a “dual platform” strategy to sell both generic and branded treatments. While Impax had grown organically for most of its history, it was beginning to use major acquisitions for growth. In the... View Details
- October 2019
- Supplement
Impax Laboratories: Executing Accretive Transactions (A)
By: Benjamin C. Esty and Daniel Fisher
Impax Laboratories was a technology-based pharmaceutical company that used a “dual platform” strategy to sell both generic and branded treatments. While Impax had grown organically for most of its history, it was beginning to use major acquisitions for growth. In the... View Details
- October 2019
- Case
Hony Capital and Jushi Group
By: Josh Lerner, Shai Bernstein and Ann Leamon
Hony Capital, a multi-billion dollar private equity firm based in China, is investing in a subsidiary of Jushi Group, a Chinese company that is one of the world's largest fiberglass producers. The specific project will build a plant in the United States. In this case,... View Details
- September 2019
- Case
Dementia Discovery Fund
By: Richard G. Hamermesh, Kathy Giusti and Sarah Gulick
The case is set in March 2019, and tells the story of the founding of the Dementia Discovery Fund (DDF). The idea for the fund began in 2015, when then-Prime Minister David Cameron spoke about the importance of making breakthroughs in dementia research, and pledged... View Details
- June 2019 (Revised April 2020)
- Teaching Note
Vox Capital: Pioneering Impact Investing in Brazil
By: Julie Battilana, Marissa Kimsey and Falko Paetzold
Teaching Note for HBS No. 417-051. This Teaching Note provides conceptual foundations and teaching plan recommendations for the case on Vox Capital, a firm that launched one of the first impact investing funds in Brazil. The learning objectives are to understand how an... View Details
- 2019
- Working Paper
Rehabilitating Corporate Purpose
In this paper, I address how the ascendance of the theory of shareholder value maximization into the central consciousness of public corporations and its canonization as the only legitimate expression of corporate purpose has contributed to both a widening breach... View Details
- April 2019
- Case
Afterpay U.S.: The Omnichannel Dilemma
By: Antonio Moreno, Donald Ngwe and George Gonzalez
In 2018, Nick Molnar, the founder of the Australia-based online payment service Afterpay began its expansion to the U.S. market. The service had gained a loyal following in Australia by enabling customers to pay for online purchases through four interest-free... View Details
Keywords: Omnichannel Retail; Multi-sided Platforms; Value Creation; Business Model Innovation; Fintech; Digital Marketing; Disruptive Innovation; Business Startups; Business Growth and Maturation; Business Model; Business Organization; For-Profit Firms; Change Management; Customer Value and Value Chain; Customer Relationship Management; Customer Satisfaction; Financing and Loans; Microfinance; Global Strategy; Marketing Channels; Brands and Branding; Marketing Strategy; Market Entry and Exit; Digital Platforms; Product Development; Supply Chain Management; Business and Stakeholder Relations; Networks; Network Effects; Internet and the Web; Financial Services Industry; Retail Industry; Technology Industry; United States; Australia
- March 2019
- Supplement
KITEA (F): Expanding in Africa
By: Ramon Casadesus-Masanell and Gamze Yucaoglu
he case opens in 2018 after KITEA has recorded two years of double-digit sales growth following IKEA’s entry into the Moroccan market. It then traces the factors that contributed to KITEA’s success and that led Tana Africa Capital Limited to acquire a minority stake in... View Details
Keywords: Retail; KITEA; IKEA; Furniture; Furniture Industry; Entry Strategy; Responding To Entry; Localization; Competitive Interaction; Private Sector; For-Profit Firms; Business Strategy; Strategic Planning; Competitive Strategy; Competitive Advantage; Adaptation; Corporate Strategy; Success; Expansion; Strategy; Retail Industry; Africa; North Africa; Morocco
- Article
Short-Termism and Capital Flows
By: Jesse M. Fried and Charles C.Y. Wang
During 2007–2016, S&P 500 firms distributed to shareholders $7 trillion via buybacks and dividends, over 96% of their aggregate net income, prompting claims that "short-termism" is impairing firms' ability to invest and innovate. We show that, when taking into account... View Details
- January 2019 (Revised December 2019)
- Case
CrossBoundary Energy
By: John Macomber
Almost 500 million people are without electricity in sub-Saharan Africa. Governments and public utilities are challenged to bring generation and distribution to most of them. Considerable promise exists in “off-grid” or “mini-grid” technologies, notably using renewable... View Details
Keywords: Energy Investing; Economic Development; Renewable Energy; Business Growth and Maturation; Developing Countries and Economies; Project Finance; Emerging Markets; Industry Structures; Infrastructure; Segmentation; Private Equity; Decision Choices and Conditions; Energy Industry; Utilities Industry; Africa; Tanzania; Ghana
- 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... View Details
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