Publications

29 Jan 2019
Research & Ideas

'Green Bonds' May Be Our Best Bet for Environmental Damage Control

Municipalities have been selling bonds to pay for public works projects—fire stations, parking garages,sewage treatment systems—for 200 years. It’s only in the past decade or so, however, that they’ve been selling them with an extra perk: helping the environment. In... View Details

Keywords: by Michael Blanding; Energy; Utilities; Construction; Green Technology; Public Administration

March 2005 (Revised February 2006)
Case

Advising on Currency Risk at ICICI Bank

In March 2003, a client approached the Markets Advisory Group at ICICI Bank, India's second largest bank, about a hedging transaction. The hedge involved multiple interest rates and currencies. Shilpa Kumar, head of the Markets Advisory Group, has to put together a... View Details

Keywords: Risk and Uncertainty; Currency Exchange Rate; Capital Markets; Investment Funds; Banks and Banking; Banking Industry; Financial Services Industry; India

29 Sep 2008
Research & Ideas

Financial Crisis Caution Urged by Faculty Panel

his insights to set the stage. Senior Lecturer Clayton S. Rose, who for 20 years worked at JP Morgan & Company and headed global investment banking and global equity there, discussed the implications of change in commercial and View Details

Keywords: by Martha Lagace; Financial Services

25 Aug 2022
News

Open Market

first focusing on scaling operations and then becoming a partner at Google Capital (now CapitalG), investing in late-stage tech companies and helping founders grow their businesses. The experience at Google... View Details

Keywords: Dan Morrell; illustration by Keith Negley; Securities, Commodities, and Other Financial Investments; Securities, Commodities, and Other Financial Investments

01 Feb 1999
News

NYC Conference Brings Entrepreneurs and Angels Together

investment vehicles used by angel investors to find and fund entrepreneurs: groups of angels who evaluate deals together, organizations that match entrepreneurs with interested angels, and individual angels who seek out deals through... View Details

12 Sep 2007
Op-Ed

Building Sandcastles: The Subprime Adventure

subprime market, that "somebody else" was the lender. If a borrower defaulted, the bank recouped its investment by foreclosing on the home. The house represented collateral that, ideally, would reimburse the lender. Thanks to... View Details

Keywords: by Nicolas P. Retsinas; Banking; Construction; Real Estate

17 Sep 2018
Blog Post

My Summer as a Venture Capitalist

me some standard interview questions, but then they asked, “what do you hope to learn and work on specifically?” I replied, “I want to source deals, see deal diligence, and work on investment theme development – specifically on enterprise... View Details

Keywords: Venture Capital / Private Equity

January 2004 (Revised May 2005)
Case

Gold Hill Venture Lending

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

David Fischer is trying to raise $200 million for a first-time venture debt fund that will be affiliated with Silicon Valley Bank, a major technology lender. Despite his lengthy experience in venture lending, the process is proving difficult. He and his partners are... View Details

Keywords: Information Technology; Value Creation; Venture Capital; Partners and Partnerships; Decision Choices and Conditions; Investment Funds; Banking Industry; Financial Services Industry

17 Jan 2019
News

The First Five Years: ‘30 Under 30’ Edition

music producer and drummer whose mission is to elevate and celebrate the female voice. I produce music that tackles issues of modern gender equality today, and I travel the world to speak and perform about these issues.” Tucker: “I’m a principal at Troy, a venture... View Details

October 2019 (Revised February 2025)
Case

A Conversation with Ellen J. Kullman, Chairman & CEO of DuPont, 2009-2015

By: Lynn S. Paine and Will Hurwitz

Ellen J. Kullman, the retired Chairman and CEO of DuPont, describes how she guided the storied science and technology company through a contentious proxy battle with activist investor Trian Partners, which acquired DuPont shares in 2013 and sought to break up the... View Details

Keywords: Agribusiness; Capital Structure; Corporate Accountability; Corporate Governance; Institutional Investing; Leadership; Leadership Style; Management; Transformation; Agriculture and Agribusiness Industry; Chemical Industry; United States

November 2005 (Revised November 2005)
Case

Massachusetts General Hospital and the Enbrel Royalty

By: David S. Scharfstein and Darren R. Smart

Massachusetts General Hospital is considering selling its royalty interest in Enbrel, Amgen's blockbuster drug for the treatment of rheumatoid arthritis. In assessing whether to sell, and at what price, the hospital must determine its value to a potential buyer as well... View Details

Keywords: Valuation; Price; Investment Return; Capital; Value; Revenue; Health Care and Treatment; Health Industry; Biotechnology Industry; Massachusetts

01 Dec 2015
News

Golden State of Mind

(formerly Draper Fisher Jurvetson), the venture capital firm he founded in 1985 as a small business investment company called Draper Associates. Conventionally dressed, his tie nonetheless depicts a map of... View Details

Keywords: Julia Hanna

January 2001 (Revised May 2001)
Case

Return Logic, Inc. (B)

By: Richard G. Hamermesh and Michele Lutz

Highlights how multiple rounds of financing work in practice and illustrates how terms agreed to in early-stage financing deals have an impact in later financing rounds. Also illustrates ethical issues that entrepreneurs confront as they build "dot-com" ventures. View Details

Keywords: Venture Capital; Investment Funds; Private Equity; Internet and the Web; Negotiation Deal; Entrepreneurship; Ethics

03 May 2010
News

Mastering the VC Game

Keywords: Securities, Commodities, and Other Financial Investments; Securities, Commodities, and Other Financial Investments

August 2011
Teaching Note

Before the Fall: Lehman Brothers 2008 (TN)

By: Clayton Rose and Sally Canter Ganzfried

Teaching Note for 309-093. View Details

Keywords: Resignation and Termination; Problems and Challenges; Management; Change; Performance; Rank and Position; Business and Stakeholder Relations; Investment Funds; Capital Structure; Service Industry

October 1995 (Revised June 1996)
Case

ABN-AMRO Holding N.V. and Smit Transformatoren N.V. (A)

By: Peter Tufano

ABN-AMRO, the largest bank in the Netherlands, must decide whether to take any action in regard to the poor performance of Smit Transformatoren, a Dutch transformer manufacturer. ABN-AMRO acted as lead underwriter for the IPO of Smit, and also released a favorable... View Details

Keywords: Initial Public Offering; Capital Markets; Investment Banking; Banking Industry; Financial Services Industry; Netherlands

October 2007 (Revised November 2007)
Case

Barclays Global Investors and Exchange Traded Funds

By: Luis M. Viceira and Alison Berkley Wagonfeld

Provides an overview of the Exchange Traded Funds (EFT) industry and highlights the leadership role that Barclays Global Investors (BGI) has played in this developing asset class. BGI launched its first ETFs under the iShares brand name in 2000, and by mid-2007 BGI was... View Details

Keywords: History; Venture Capital; Asset Management; Stocks; Investment Funds; Leading Change; Expansion; Competitive Strategy; Capital Markets; Global Strategy; Financial Strategy; Banking Industry; Financial Services Industry; Asia; Europe

27 Jul 2010
News

Four Things Great VCs Do

Keywords: Securities, Commodities, and Other Financial Investments; Securities, Commodities, and Other Financial Investments

October 2011 (Revised July 2012)
Case

ATR KimEng Financial Corporation

By: Li Jin, Michael Shih-ta Chen and Dawn Lau

ATR KimEng is a Philippino asset management business. It is making an important decision on its own strategy going forward: should it stay independent, or be taken over by a large bank in the region. Through this case, we discuss the financial service industry in South... View Details

Keywords: Asset Management; Mergers and Acquisitions; Capital Markets; Investment; Financial Services Industry; Philippines