Publications

May 2002
Case

Venture Capital Fund Restructuring Vignettes (Abridged)

By: Paul A. Gompers

This case examines the changes in fund structures proposed by four venture capital firms in 2002: Accel Partners, Battery Ventures, Charles River Ventures, and Kleiner Perkins Caufield & Byers. The venture capital market has experienced a major downturn, and these... View Details

Keywords: Venture Capital; Restructuring; Financial Crisis; Motivation and Incentives; Business and Shareholder Relations; Investment Funds; Financial Services Industry

February 2011 (Revised January 2015)
Supplement

Matrix Capital Management (A) (CW)

By: Malcolm P. Baker and David Lane

Spreadsheet supplement to Matrix Capital Management (A) allowing students to value the company. View Details

Keywords: Investment Funds; Valuation; Financial Services Industry

Fall 2017
Article

Strengthening and Streamlining Bank Capital Regulation

By: Robin Greenwood, Samuel Gregory Hanson, Jeremy C. Stein and Adi Sunderam

We propose three core principles that should inform the design of bank capital regulation. First, wherever possible, multiple constraints on the minimum level of equity capital should be consolidated into a single constraint. This helps to avoid a distortionary... View Details

Keywords: Banks and Banking; Capital; Governing Rules, Regulations, and Reforms; Banking Industry

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Web

Behavioral Finance & Financial Stability

Stephen’s other research here . More Info Sizing up Corporate Restructuring in the COVID Crisis By: Robin Greenwood , Benjamin Iverson & David Thesmar NOV 2020 In the wake of the COVID-19 pandemic, the financial and legal system will... View Details

01 Mar 2012
News

Does America Really Need Manufacturing?

January 2003
Article

Women Entrepreneurs Who Break Through to Equity Financing: The Influence of Human, Social and Financial Capital

By: Myra M. Hart, Nancy M. Carter, Candida G. Brush, Patricia G. Greene and Elizabeth Gatewood

Keywords: Human Capital; Entrepreneurship; Financing and Loans; Gender; Capital; Equity

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November 2009
Background Note

Business Valuation and the Cost of Capital

By: Timothy A. Luehrman

This note is an introduction to the cost of capital as used in discounted cash flow valuation analyses. The note covers basic financial economic principles and practical problems encountered in calculating the cost of capital, especially WACC. It concludes with... View Details

Keywords: Economics; Capital Budgeting; Cash Flow; Cost of Capital; Valuation

28 Feb 2007
Research & Ideas

Capital Rules: The Tensions of Global Finance

What fuels a global economy? Certainly the easy flow of capital across national boundaries would seem near the top of the list. But financial globalization is not an on/off switch, notes Professor Rawi... View Details

Keywords: by Rawi Abdelal

22 Feb 2018
Book

The New History of American Capitalism

which democracy and capitalism are embodied need to be reinvented again and again.” His contribution attends to the role of public debt, other financial investments, and the... View Details

Keywords: Manufacturing

January 1994
Background Note

Note on Financial Programming Over Long Horizons

By: Timothy A. Luehrman

Introduces students to financial programming as a way to incorporate concepts and tools from modern corporate finance theory into a framework for managing over long horizons. Particular attention is paid to corporate capital budgeting and investment processes. View Details

Keywords: Framework; Theory; Investment; Business Processes; Capital Budgeting; Corporate Finance

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December 2016
Simulation

Venture Capital and Private Equity Game

By: Matthew Rhodes-Kropf, Josh Lerner, G. Felda Hardymon and Nathaniel Burbank

The Venture Capital and Private Equity Simulation enables groups of students to play the role of either an early or later stage private equity firm. Within the simulation, students raise funds, search for companies to invest in, complete deals, and manage a portfolio... View Details

Keywords: Venture Capital; Private Equity

Research Summary

Level Playing Fields in International Financial Regulation

Joint work with Alan Morrison, Saïd Business School, Oxford.

We study a model of featuring two economies with adverse selection of and moral hazard by bankers. We demonstrate... View Details

October 2016 (Revised October 2017)
Case

Misaki Capital and Sangetsu Corporation

By: Ian Gow, Charles C.Y. Wang, Naoko Jinjo and Nobuo Sato

Japan’s corporate culture has traditionally prioritized the interests of stakeholders such as customers, employees, and suppliers over those of shareholders. After a decades-long economic slump, Japan’s government has revitalized efforts to improve corporate governance... View Details

Keywords: Activist Investing; Constructivist Investing; Japan; Valuation; Stock Screens; Return On Equity; Investment; Business and Stakeholder Relations; Corporate Governance; Financial Strategy; Business and Shareholder Relations; Japan

2011
Working Paper

Top Executive Background and Financial Reporting Choice

By: Francois Brochet and Kyle Travis Welch

We study the role of executive functional background in explaining management discretion in financial reporting. Taking goodwill impairment as our reporting setting, we focus on top executives (CEOs and CFOs) whose employment history includes experience in investment... View Details

Keywords: Financial Reporting; Goodwill Accounting; Experience and Expertise; Decision Choices and Conditions; Managerial Roles; Agency Theory