Publications
Publications
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- All HBS Web
(2,056)
- Faculty Publications (348)
- 2015
- Chapter
The Role of Multiplier Firms and Megaprojects in Leading Change for Sustainability
In both the private and public sectors, organizations around the world face increasingly pressing questions about how to stimulate and manage change for long-term environmental, social, and economic sustainability. The purpose of this chapter is to highlight the roles... View Details
- January 2015 (Revised April 2015)
- Case
Lagkagehuset: Building a Bakery Chain
By: Krishna G. Palepu and Emer Moloney
A Danish bakery chain that was acquired by a private equity firm in 2008, and has grown from 3 to 31 stores, plans to address reoccuring operational and organizational issues before growing further. View Details
- December 2014
- Article
Private Equity, Jobs, and Productivity
By: Steven J. Davis, John Haltiwanger, Kyle Handley, Ron Jarmin, Josh Lerner and Javier Miranda
Private equity critics claim that leveraged buyouts bring huge job losses. To investigate this claim, we construct and analyze a new dataset that covers U.S. private equity transactions from 1980 to 2005. We track 3,200 target firms and their 150,000 establishments... View Details
- December 2014
- Other Article
Private Equity, Jobs, and Productivity—Online Appendix
By: Steven J. Davis, John Haltiwanger, Kyle Handley, Ron Jarmin, Josh Lerner and Javier Miranda
Private equity critics claim that leveraged buyouts bring huge job losses. To investigate this claim, we construct and analyze a new dataset that covers U.S. private equity transactions from 1980 to 2005. We track 3,200 target firms and their 150,000 establishments... View Details
- November 2014
- Case
Ardian—The Sale of Diana
By: Paul A. Gompers and Michael Roberts
The case focuses on a European private equity firm—Ardian—and the process it uses to sell one of its portfolio companies, and the decisions around that sale. Key issues include the choice of an auction or acceptance of a pre-emptive bid, and the role of the portfolio... View Details
- September 2014 (Revised March 2021)
- Case
La Ribera Health Department (A)
By: Regina E. Herzlinger, Emer Moloney and Daniela Beyersdorfer
The La Ribera case studies depict an innovative low cost/high quality privately financed hospital model struggling to achieve alignment with the Six Factors. It is reimbursed by the public sector in a Spanish environment whose Consumers, Structure, and Public Policy... View Details
- June 2014
- Simulation
Balanced Scorecard Simulation
By: V.G. Narayanan
In this multi-player simulation, students experience the benefits and challenges of using a scorecard to implement strategic initiatives and monitor firm performance. Small teams of students work together to choose a strategy for their company, create a strategy map,... View Details
- June 2014
- Teaching Note
Doing Deals and Leading Teams at XAF Partners
By: Boris Groysberg, Sarah L. Abbott and Robin Abrahams
Private equity firm XAF Partners had grown steadily over the last decade, establishing offices across Asia. At the end of their day-long partners' retreat, several firm partners discuss the challenges they face as "producing managers." These include collaboration and... View Details
- June 2014 (Revised July 2014)
- Background Note
An Overview of Project Finance and Infrastructure Finance—2014 Update
By: Benjamin C. Esty, Carla Chavich and Aldo Sesia
Provides an introduction to the fields of project finance and infrastructure finance, and gives a statistical overview of project-financed investments over the years from 2009 to 2013. Examples of project-financed investments include the Kashagan oil field development... View Details
- May 2014
- Case
WeaveTech: High Performance Change
By: Michael Beer and Paul Swiercz
WeaveTech, formerly Johnson-Ware, is a clothing company that produces jackets, coats, overalls, coveralls, and fire-resistant clothing for the military. A private equity firm renamed the company after it acquired Johnson-Ware several years ago. WeaveTech now faces a... View Details
- April 2014 (Revised October 2015)
- Case
Texas Teachers and the New Texas Way
By: Matthew Rhodes-Kropf, Luis M. Viceira, John D. Dionne and Nathaniel Burbank
In 2011 Britt Harris, the Chief Investment Officer for the $107.4 billion Teachers Retirement System of Texas (TRS), was considering whether to pursue strategic partnerships with a group of large private equity firms. After spending four years aggressively moving the... View Details
- March 2014 (Revised September 2015)
- Case
ACA and the Union Bank Acquisition
By: Josh Lerner and Nathaniel Burbank
Okey Enelamah is the CEO of the African Capital Alliance (ACA), a private equity firm based in Nigeria. ACA has spent more than a year arranging a $500 million consortium bid to acquire and recapitalize Union Bank, Nigeria's sixth largest bank. Several weeks before the... View Details
- 2014
- Working Paper
Waste, Recycling and Entrepreneurship in Central and Northern Europe, 1870–1940
By: Geoffrey Jones and Andrew Spadafora
This working paper examines the role of entrepreneurs in the municipal solid waste industry in industrialized central and northern Europe from the late nineteenth century to the 1940s. It explores the emergence of numerous German, Danish, and other European... View Details
- March 2014
- Article
Private Interaction Between Firm Management and Sell-Side Analysts
By: Eugene F. Soltes
Although sell-side analysts often privately interact with managers of publicly traded firms, the private nature of this contact has historically obscured direction examination. By examining a set of proprietary records compiled by a large-cap NYSE traded firm, I offer... View Details
- 2014
- Book
Can China Lead? Reaching the Limits of Power and Growth
By: Regina M. Abrami, William C. Kirby and F. Warren McFarlan
At the time of the American Revolution, China was the strongest, richest, and most powerful civilization in the world. The Great Qing Empire ruled China and dominated East Asia by a combination of power and cultural prestige. China's economy was the world's largest.... View Details
- October 2013
- Case
Advantage Partners: Dia Kanri (A)
By: Paul A. Gompers, Nobuo Sato and Akiko Kanno
This case explores the opportunity to purchase the condominium management business of a distressed real estate developer by Advantage Partners, a leading Japanese private equity firm. The case explores investment structuring, bidding strategy, and the ability of... View Details
Keywords: Private Equity; LBO; Roll-up; Investment; Financing; Condominium Management; Leveraged Buyouts; Asia
- October 2013 (Revised November 2013)
- Case
Blackstone and the Sale of Citigroup's Loan Portfolio
By: Victoria Ivashina and David Scharfstein
The credit boom that preceded the 2007-2009 financial crisis led to several lending practices that exposed banks to large risks. In particular, when the financial crisis unraveled, there were several billion dollars' worth of leveraged buyout (LBO) loans that were... View Details
- October 2013
- Case
Oaktree and the Restructuring of CIT Group (A)
By: Victoria Ivashina and David Scharfstein
CIT's prepackaged bankruptcy marked the first time a major financial institution was able to successfully restructure and emerge from Chapter 11 bankruptcy, challenging conventional views that a financial firm could not survive bankruptcy proceedings as a going... View Details
- October 2013
- Article
How Firms Respond to Mandatory Information Disclosure
By: Anil R. Doshi, Glen W.S. Dowell and Michael W. Toffel
Mandatory information disclosure regulations seek to create institutional pressure to spur performance improvement. By examining how organizational characteristics moderate establishments' responses to a prominent environmental information disclosure program, we... View Details
- August 2013
- Case
HgCapital and the Visma Transaction (A)
By: Paul A. Gompers, Karol Misztal and Joris Van Gool
This case concerns the negotiations of a deal by HgCapital, a UK-based private equity firm, to buy Visma, ASA, a Norwegian software company. Visma has received an offer from Sage Group, a strategic acquirer. HgCapital must determine if it wants to bid and how to outbid... View Details