Publications
Publications
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- All HBS Web
(2,724)
- Faculty Publications (316)
- April 2012
- Case
Danish National Advanced Technology Foundation
By: Willy Shih and Margaret Pierson
Danish National Advanced Technology Foundation (DNATF), a government agency, invests in public-private partnerships to stimulate commercialization of Danish scientific research within the country's industry. DNATF established a process for evaluating proposals, making... View Details
- March 2012
- Article
How to Make Finance Work
By: Robin Greenwood and David S. Scharfstein
Once a sleepy old boys' club, the U.S. financial sector is now a dynamic and growing business that attracts the best and the brightest. It is tempting to declare the industry a roaring success. But its purpose is to serve the needs of U.S. households and firms, and by... View Details
- December 2011
- Article
Data Impediments to Empirical Work on Health Insurance Markets
By: Leemore S. Dafny, David Dranove, Frank Limbrock and Fiona Scott Morton
We compare four datasets that researchers might use to study competition in the health insurance industry. We show that the two datasets most commonly used to estimate market concentration differ considerably from each other (both in levels and in changes over time),... View Details
- 2012
- Other Unpublished Work
What Are We Meeting For? The Consequences of Private Meetings with Investors
By: Eugene F. Soltes and David H. Solomon
Executives of publicly-traded firms spend considerable time meeting privately with investors, despite regulation restricting their ability to convey material nonpublic information. Using a set of records of all one-on-one meetings between senior management and... View Details
- September 2011 (Revised January 2012)
- Case
Gerson Lehrman Group: Managing Risks
By: Boris Groysberg, Paul Healy and Sarah L. Abbott
It was June 2011 and Alexander Saint-Amand, President and CEO of Gerson Lehrman Group, the largest expert network firm globally, has found his firm once again in the midst of controversy. This controversy centered around a number of insider trading cases that had been... View Details
Keywords: Risk Management
- September 2011 (Revised September 2011)
- Case
Perella Weinberg Partners: New Firm, Old Values
By: Clayton S. Rose and Aman Malik
In the five years since it opened its doors, the investment banking boutique Perella Weinberg Partners had grown into a firm that advised a roster of blue-chip clients on critical transactions and had over $8 billion of client assets under management. The three... View Details
- May 2011 (Revised December 2011)
- Case
Stuyvesant Town - Peter Cooper Village: America's Largest Foreclosure
By: Arthur I Segel, Gregory S. Feldman, James T. Liu and Elizabeth C. Williamson
In July 2010, William Ackman, the founder of Pershing Square, is considering a potential new opportunity: the acquisition of the distressed Stuyvesant Town and Peter Cooper Village ("ST /PCV") complex. The property had recently been abandoned by its owners and had come... View Details
- May 2011
- Article
Institutional Stock Trading on Loan Market Information
By: Victoria Ivashina and Zheng Sun
Over the past decade, one of the most important developments in the corporate loan market has been the increasing participation of institutional investors in lending syndicates. As lenders, institutional investors routinely receive private information about borrowers.... View Details
- April 2011 (Revised May 2012)
- Case
City Year: The Journey
By: Rosabeth Moss Kanter and James Weber
Throughout its first two decades, City Year, a non-profit organization, was dedicated to recruiting young adults to give a year of public service. It had passed through several growth phases but by 2010 a new challenge, and opportunity, had arisen when City Year and... View Details
- April 2011 (Revised April 2011)
- Module Note
Investor Demand
By: Robin Greenwood
This conceptual note describes a series of cases on the investor demand approach to investment strategy and management. The cases demonstrate how and why securities market dislocations are driven by non-fundamental demand. I use the cases to progressively build a... View Details
Keywords: Investment
- January 2011
- Supplement
Matrix Capital Management (B)
By: Malcolm P. Baker and David Lane
Ben Balbale, a partner at hedge fund Matrix Capital, must decide whether to exit their investment in Rovi Corporation, a company with a diverse portfolio of patents used primarily for digital interactive guides. Rovi's shares are up over 50% from the time Balbale... View Details
- January 2011
- Supplement
Matrix Capital Management (C)
By: Malcolm P. Baker and David Lane
Ben Balbale, a partner at hedge fund Matrix Capital, must decide whether to exit their investment in Rovi Corporation, a company with a diverse portfolio of patents used primarily for digital interactive guides. Rovi's shares are up over 50% from the time Balbale... View Details
- Article
Do Strong Fences Make Strong Neighbors?
By: Mihir Desai and Dhammika Dharmapala
Many features of U.S. tax policy towards multinational firms-including the governing principle of capital export neutrality, the byzantine system of expense allocation, and anti-inversion legislation-reflect the intuition that building "strong fences" around the United... View Details
- 2010
- Working Paper
Lawful but Corrupt: Gaming and the Problem of Institutional Corruption in the Private Sector
This paper describes how the gaming of society's rules by corporations contributes to the problem of institutional corruption in the world of business. "Gaming" in its various forms involves the use of technically legal means to subvert the intent of society's rules in... View Details
- November 2010 (Revised October 2012)
- Background Note
Farmland Investing: A Technical Note
By: Ray Goldberg, Arthur I Segel, Gustavo Herrero and Andrew Terris
This note seeks to provide an overview of farmland investing, the investment thesis behind investing in agriculture, how and why investors would choose farmland, and the general risks and return characteristics of this asset class. In recent years, a growing number of... View Details
- Article
The Impact of Corporate Social Responsibility on Investment Recommendations
By: Ioannis Ioannou and George Serafeim
Using a large sample of publicly traded U.S. firms over 16 years, we investigate the impact of corporate socially responsible (CSR) strategies on security analysts' recommendations. Socially responsible firms received more favorable recommendations in recent years... View Details
- June 2010 (Revised September 2013)
- Case
IDFC India: Infrastructure Investment Intermediaries
By: John D. Macomber and Viraal Balsari
Indian financial intermediary matching international capital to local infrastructure decides how to balance range of services, risk-adjusted return, margin pressure, and nation building. IDFC was chartered with partial ownership from the Indian government to help... View Details
- June 2010 (Revised November 2013)
- Case
Momentive Performance Materials, Inc.
By: Victoria Ivashina and David Scharfstein
After nearly violating its loan covenants in 2009, Momentive Performance Materials, backed by its financial sponsor Apollo Global Management, took a variety of actions to restructure its debt. The restructuring steps included an open market repurchase of publicly held... View Details
- May 2010 (Revised August 2013)
- Case
Delta Electronics Hybrid Power Train
By: Willy C. Shih and Jyun-Cheng Wang
Delta Electronics, the world's largest manufacturer of switching power supplies, hoped to enter the market for gasoline-electric hybrid power trains for automobiles by being a major component and subsystem supplier. While most public awareness of hybrid vehicles fell... View Details
- 2010
- Chapter
The Financing of R&D and Innovation
By: Bronwyn H. Hall and Josh Lerner
Evidence on the “funding gap” for investment innovation is surveyed. The focus is on financial market reasons for underinvestment that exist even when externality-induced underinvestment is absent. We conclude that while small and new innovative firms experience high... View Details