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  • January 2015 (Revised October 2018)
  • Case

Dogs of the Dow

By: Malcolm Baker, Samuel G. Hanson and James Weber
This case describes the Dogs of the Dow investment strategy, value investing, and using dividend yields as a means to determine intrinsic value. It also describes exchange traded notes and a particular exchange traded note, known as the Dogs of the Dow, which tracks... View Details
Keywords: Dow Jones; Dow Jones Industrial Average; Exchange Traded Note; Exchange Traded Fund; Value Investing; Benjamin Graham; Investment Strategy; Dividend Yield; Intrinsic Value; Dividend Discount Model; Michael O'Higgins; Financial Instruments; Investment; Strategy; Financial Services Industry; United States
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Baker, Malcolm, Samuel G. Hanson, and James Weber. "Dogs of the Dow." Harvard Business School Case 215-020, January 2015. (Revised October 2018.)
  • June 2013 (Revised March 2014)
  • Case

Hennes & Mauritz, 2000

By: John R. Wells and Galen Danskin
In 2000, Hennes & Mauritz (H&M) was the second-largest and most global player in the fashion retail business. It operated 682 stores, 80% of them outside its home country of Sweden, and achieved revenues of $3.0 billion and operating profits of $375 million. In 1999,... View Details
Keywords: Strategy; Strategy Alignment; Strategic Planning; Fashion; Risk Management; Competition; Problems and Challenges; Management Teams; Globalized Firms and Management; Expansion; Distribution Channels; Retail Industry; Fashion Industry; Sweden
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Wells, John R., and Galen Danskin. "Hennes & Mauritz, 2000." Harvard Business School Case 713-509, June 2013. (Revised March 2014.)
  • October 2018
  • Supplement

African Bank Investments Limited (B)

By: Lynn S. Paine and Will Hurwitz
Less than a year after joining the board of African Bank Investments Limited (ABIL), the newest director finds himself in difficult discussions with other directors about removing the struggling company’s CEO. The case is set in South Africa in mid-2014 as shares in... View Details
Keywords: Ethics; Personal Finance; Corporate Accountability; Governing and Advisory Boards; Corporate Governance; Crisis Management; Insurance; Leadership; Management; Risk Management; Banking Industry; Financial Services Industry; Insurance Industry; Africa; South Africa
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Paine, Lynn S., and Will Hurwitz. "African Bank Investments Limited (B)." Harvard Business School Supplement 319-053, October 2018.
  • 2014
  • Discussion Paper

Do High Feed-in Tariffs for Solar PV Panels Hinder Competition (Japanese)

By: Koji Nomura and Tomomichi Amano
In Japan, feed-in-tariffs (FIT) are a key policy tool that has been deployed to produce the mass diffusion of photovoltaices (PV). In this study, we argue that this policy is unlikely to induce sustainable economic growth, which some use as a justification for FIT. We... View Details
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Nomura, Koji, and Tomomichi Amano. "Do High Feed-in Tariffs for Solar PV Panels Hinder Competition (Japanese)." Development Bank of Japan, Research Center on Global Warming Discussion Paper Series, no. 49, April 2014.
  • October 2001 (Revised February 2007)
  • Background Note

Accounting for Employee Stock Options

Employees who have been granted stock options have the right to purchase shares of their company's stock at a specified price within a specified time period. The accounting for such employee stock options has been a controversial and complex topic for decades. The... View Details
Keywords: Employee Stock Ownership Plan; Accounting
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Bradshaw, Mark T. "Accounting for Employee Stock Options." Harvard Business School Background Note 102-039, October 2001. (Revised February 2007.)
  • 23 Feb 2016
  • First Look

February 23, 2016

sense of pride and ownership in working with BRF, will be critical to enabling BRF's global ambitions. Purchase this case: https://cb.hbsp.harvard.edu/cbmp/product/516058-PDF-ENG Harvard Business School Case 116-031 Alibaba Goes Public (B) Update on Alibaba Group's... View Details
Keywords: Sean Silverthorne

    Valuing Snap After the IPO Quiet Period

    Snap, the disappearing message app, went public at $17 per share on March 2, 2017, making its two 20-something founders the youngest self-made billionaires in the country. Over the next three weeks, 14 analysts make investment recommendations on Snap: two with buy... View Details

    • April 2021
    • Case

    Transforming BlackBerry: From Smartphones to Software

    By: Ranjay Gulati and Nicole Tempest Keller
    On the verge of failure, BlackBerry brought in John Chen as CEO in 2013 to orchestrate a bold turnaround of the company. Once an iconic leader in the smartphone market, BlackBerry was best known for its tactile QWERTY keyboard, strong security, and a focus on business... View Details
    Keywords: Pivot; Managing Change; Turnaround; Smartphone; Change Management; Leading Change; Transformation; Organizational Change and Adaptation; Digital Platforms; Change; Information Infrastructure; Applications and Software; Competitive Strategy; Cybersecurity; Technology Industry; Transportation Industry; Canada
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    Gulati, Ranjay, and Nicole Tempest Keller. "Transforming BlackBerry: From Smartphones to Software." Harvard Business School Case 421-052, April 2021.
    • May 2013
    • Case

    Altius Golf and the Fighter Brand

    By: Robert J. Dolan and Sunru Yong
    Altius Golf is the clear leader in the golf ball market despite a long-term decline in the number of golfers and a drop in sales following the financial crisis. The firm has maintained its position by introducing generations of advanced, super-premium golf balls that... View Details
    Keywords: Governing and Advisory Boards; Competitive Advantage; Decision Choices and Conditions; Distribution Channels; Sports; Financial Crisis; Brands and Branding; Segmentation; Sports Industry; Entertainment and Recreation Industry
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    Dolan, Robert J., and Sunru Yong. "Altius Golf and the Fighter Brand." Harvard Business School Brief Case 913-578, May 2013.
    • 19 Jan 2011
    • Research & Ideas

    Activist Board Members Increase Firm’s Market Value

    activist investors. The stocks of those companies fell the most. "We find that share prices of companies that would have been most exposed to shareholder access declined significantly compared to View Details
    Keywords: by Carmen Nobel
    • 2006
    • Other Unpublished Work

    Does Banks' Corporate Control Benefit Firms? Evidence from US Banks' Control over Firms' Voting Rights

    By: Joao A.C. Santos and Kristin Wilson
    In this paper we examine the importance of banks' corporate control over their borrowers by investigating the loan pricing effect of banks' voting stakes in borrowers. We exploit the fact that banks may hold shares of firms in a fiduciary capacity to identify a clean... View Details
    Keywords: Voting; Corporate Governance; Commercial Banking; Banking Industry; United States
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    Santos, Joao A.C., and Kristin Wilson. "Does Banks' Corporate Control Benefit Firms? Evidence from US Banks' Control over Firms' Voting Rights." American Finance Association, 2006.
    • 2024
    • Working Paper

    Climate Solutions, Transition Risk, and Stock Returns

    By: Shirley Lu, Edward J. Riedl, Simon Xu and George Serafeim
    Using large language models to measure firms' climate solution products and services, we find that high-climate solution firms exhibit lower stock returns and higher market valuation multiples. Their stock prices respond positively to events signaling increased demand... View Details
    Keywords: Technology; Generative Ai; Large Language Models; Climate Finance; Climate Change; Innovation and Invention; Environmental Sustainability; AI and Machine Learning; Investment; Financial Markets
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    Lu, Shirley, Edward J. Riedl, Simon Xu, and George Serafeim. "Climate Solutions, Transition Risk, and Stock Returns." Harvard Business School Working Paper, No. 25-024, November 2024.
    • 2007
    • Working Paper

    Platform Envelopment

    By: Thomas Eisenmann, Geoffrey Parker and Marshall Van Alstyne
    Due to network effects and switching costs in platform markets, entrants generally must offer revolutionary functionality. We explore a second entry path that does not rely upon Schumpeterian innovation: platform envelopment. Through envelopment, a provider in one... View Details
    Keywords: Digital Platforms; Market Entry and Exit; Network Effects
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    Eisenmann, Thomas, Geoffrey Parker, and Marshall Van Alstyne. "Platform Envelopment." Harvard Business School Working Paper, No. 07-104, June 2007. (Revised September 2008, October 2009, July 2010.)
    • February 2024
    • Case

    FIGS: Scrubbing the Status Quo

    By: Jeffrey F. Rayport and Nicole Tempest Keller
    In October 2023, FIGS had revolutionized the medical scrubs industry with its fashionable and functional designs, but the venture was at a critical juncture. The digitally native vertical brand (DNVB) had gone public in a successful IPO in 2021 and reached $500 million... View Details
    Keywords: Marketing Channels; Corporate Strategy; Business Growth and Maturation; Business Model; Decision Choices and Conditions; Competitive Strategy; Expansion; Apparel and Accessories Industry; Fashion Industry; United States; California; Los Angeles; Europe; Canada
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    Rayport, Jeffrey F., and Nicole Tempest Keller. "FIGS: Scrubbing the Status Quo." Harvard Business School Case 824-062, February 2024.
    • Research Summary

    Fixed NAVs and Costly Puts: US Money Market Mutual Funds (with Peter Tufano)

    US money market mutual fund investors have been granted an implicit put option that allows them to sell or redeem their shares at a fixed price of $1.00, regardless of the market value of the portfolio.   We describe the institutional features that give rise... View Details
    • April 2005 (Revised May 2005)
    • Case

    Executive Compensation at General Electric (A)

    By: V.G. Narayanan and Michele Jurgens
    Faced with falling share prices and the critical eye of the media focused on Jack Welch's retirement plan, newly appointed CEO Jeff Immelt had the challenge of reassessing GE as a leader of corporate integrity and good governance. Presents the changes Immelt initiated... View Details
    Keywords: Executive Compensation; Employee Stock Ownership Plan; Governing and Advisory Boards; Media; Governance; Corporate Accountability
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    Narayanan, V.G., and Michele Jurgens. "Executive Compensation at General Electric (A)." Harvard Business School Case 105-072, April 2005. (Revised May 2005.)
    • February 1982 (Revised August 1985)
    • Case

    U.S. Retail Coffee Market (A)

    Set in mid-1978, this case covers all aspects of the U.S. retail coffee market both cross-sectionally and historically. The market is recovering from dramatic price rises and volume drops. The overall issue is the forecast of future market evolution and the... View Details
    Keywords: Marketing Strategy; Industry Growth; Market Timing; Retail Industry; Food and Beverage Industry; United States
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    Yip, George S., and Jeffrey R Williams. "U.S. Retail Coffee Market (A)." Harvard Business School Case 582-087, February 1982. (Revised August 1985.)
    • Person Page

    A. Harbus Articles 2009-2010


    EiR Interview - Jim Sharpe
    View Details

    • 2009
    • Article

    Running Out of Numbers: Scarcity of IP Addresses and What To Do About It

    By: Benjamin Edelman
    The Internet's current numbering system is nearing exhaustion: Existing protocols allow only a finite set of computer numbers ("IP addresses"), and central authorities will soon deplete their supply. I evaluate a series of possible responses to this shortage: Sharing... View Details
    Keywords: Internet; Performance Capacity; Technology Networks; Market Transactions; Resource Allocation; Policy; Price; Information Technology Industry
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    Edelman, Benjamin. "Running Out of Numbers: Scarcity of IP Addresses and What To Do About It." Auctions, Market Mechanisms and Their Applications 14 (2009): 95–106. (Springer-Verlag Lecture Notes of the Institute for Computer Science.) (Featured in Working Knowledge: When the Internet Runs Out of IP Addresses) (Circulated in 2008 as Running Out of Numbers? The Impending Scarcity of IP Addresses and What To Do About It.)
    • 2019
    • Working Paper

    Collusive Investments in Technological Compatibility: Lessons from U.S. Railroads in the Late 19th Century

    By: Daniel P. Gross
    Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the... View Details
    Keywords: Collusion; Compatibility; Railroads; Rail Transportation; Standards; Integration; Trade; History; United States
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    Gross, Daniel P. "Collusive Investments in Technological Compatibility: Lessons from U.S. Railroads in the Late 19th Century." Harvard Business School Working Paper, No. 17-044, December 2016. (Accepted at Management Science.)
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