Publications

July 2001
Technical Note

Technical Note on LBO Valuation (B): The Equity Cash Flow Method of Valuation using CAPM

Explains the equity cash flow method of valuation as it applies to leveraged buyouts. Also explains how to implement the changing cost of equity method using the CAPM. View Details

Keywords: Leveraged Buyouts; Forecasting and Prediction; Cash Flow; Cost of Capital; Equity; Valuation

August 2000 (Revised July 2002)
Background Note

Fundamental Enterprise Valuation: Free Cash Flow

A technical note that defines free cash flow (FCF). View Details

Keywords: Business Ventures; Valuation; Cash Flow

August 2000 (Revised July 2002)
Background Note

Fundamental Enterprise Valuation: Return on Invested Capital (ROIC)

A technical note that defines return on invested capital (ROIC). View Details

Keywords: Valuation; Business Ventures; Capital

07 Feb 2012
First Look

First Look: February 7

time. Publisher's link: http://www.sagepub.com/books/Book235126 Exploring the Duality between Product and Organizational Architectures: A Test of the 'Mirroring' Hypothesis Authors:Alan MacCormack, John Rusnak, and Carliss View Details

Keywords: Sean Silverthorne

18 Sep 2007
First Look

First Look: September 18, 2007

Synthesis Author:Carliss Y. Baldwin Abstract This paper constructs a unified theory of the location of transactions and the boundaries of firms. It proposes that systems of production can be viewed as... View Details

Keywords: Martha Lagace

30 Jun 2009
First Look

First Look: June 30

provides insight into how the broader management of experience accumulation affects team performance. Download the paper: http://www.hbs.edu/research/pdf/09-145.pdf Measuring and Understanding Hierarchy as an Architectural Element in Industry Sectors Authors:Jianxi... View Details

Keywords: Martha Lagace

04 Apr 2017
First Look

First Look at New Research, April 4

Industry By: Baldwin, Carliss Y. Abstract—This paper seeks to explain the technological forces that led to the rise of vertically integrated corporations in the late 19th century and the opposing forces that... View Details

Keywords: Sean Silverthorne

2007
Working Paper

The Impact of Component Modularity on Design Evolution: Evidence from the Software Industry

By: Alan MacCormack, John Rusnak and Carliss Y. Baldwin

Much academic work asserts a relationship between the design of a complex system and the manner in which this system evolves over time. In particular, designs which are modular in nature are argued to be more "evolvable," in that these designs facilitate making... View Details

Keywords: Product Design; Adaptation; Software; Information Technology Industry

01 Oct 2013
First Look

First Look: October 1

Commons: Lessons from Teachers' Participation in the Design of New Schools By: Gil, Nuno A., and Carliss Y. Baldwin Abstract—We argue that a design commons can be an... View Details

Keywords: Sean Silverthorne

02 Aug 2011
First Look

First Look: August 2

Luo, Daniel E. Whitney, Carliss Y. Baldwin, and Christopher L. Magee Abstract A hierarchy is a generic structure in which entities such as firms are ordered with respect to a specific relationship. Thus, if... View Details

Keywords: Sean Silverthorne

04 Dec 2012
First Look

First Look: December 4

crisis of the day and focus on the United States' role in the world. Read the paper: http://www.foreignpolicy.com/articles/2012/11/02/america_needs_a_chief_strategy_officer Working PapersModularity and Organizations Authors:Carliss Y.... View Details

Keywords: Carmen Nobel

January 1994 (Revised July 2000)
Exercise

Walt Disney Company's Sleeping Beauty Bonds--Duration Analysis

Walt Disney Co. issues a 100-year bond. This case describes the terms of the bond and immediate capital market reaction. View Details

Keywords: Capital Markets; Bonds; Valuation; Entertainment and Recreation Industry

March 1992 (Revised November 1993)
Background Note

Trading the Right to Pollute: Developing the Market for Pollution Allowances

Examines the issues underlying the formation of the market for tradeable pollution allowances, following the requirement of Title IV of the 1990 Amendments to the Clean Air Act. Examines the implications that these trade the allowances hold for the U.S. electric... View Details

Keywords: Strategic Planning; Pollutants; Trade; Utilities Industry

Find at Harvard

June 1990 (Revised August 1990)
Supplement

Sun Microsystems, Inc.--1987 (B)

Describes a specific opportunity to seek financing from AT&T as part of a proposed technological joint venture. Students must consider the price paid and control rights attached to a large block of shares and outline a negotiating position for each side. View Details

Keywords: Joint Ventures; Stock Shares; Financing and Loans; Price; Governance Controls; Rights; Negotiation; Opportunities; Computer Industry

2019
Working Paper

Design Rules, Volume 2: How Technology Shapes Organizations: Chapter 10 Variations on the Theme of Flow Production

The purpose of this chapter is to explore how technologies and organizations engaged in flow production evolve over time. To allow for an apples-to-apples comparison, I examine organizations using essentially the same physical technologies, making similar products, and... View Details

Keywords: Flow Production; Ford; General Motors; Competitiveness; Information Technology; Organizational Design; Production; Auto Industry

2018
Working Paper

Design Rules, Volume 2: How Technology Shapes Organizations: Chapter 7 The Value Structure of Technologies, Part 2: Technical and Strategic Bottlenecks as Guides for Action

The purpose of this chapter is to present analytic tools based on functional maps that can be used to identify investment opportunities and to formulate strategy in large, evolving technical systems. I argue that the points of value creation and value capture in a... View Details

Keywords: Bottlenecks; Information Technology; System; Investment; Opportunities; Strategy

SSRN

2015
Comment

In the Shadow of the Crowd: A Comment on 'Valve's Way'

There are many ways to exercise authority. Perrow (1986), in his review of March and Simon's Organizations (1958), offers a threefold classification of the ways authority can be exercised in organizations: (1) direct, "fully obtrusive" controls such as giving orders... View Details

Keywords: New Forms Of Organizing; Organizational Forms; Non-hierarchical Organizations; Self-organizing Teams; Boss-less Organizations; Organizational Design; United States