Publications

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Awards

Global Award for Entrepreneurship Research

Winner of the 2010 Global Award for Entrepreneurship, given by the Swedish Entrepreneurship Forum, the Swedish Agency for Economic and Regional Growth, and Sweden's Research Institute of Industrial Economics, for his pioneering research into venture capital and venture... View Details

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Events - Private Capital Project

webinar featured Abdulaziz Albassam (CEO, AIMS Investments), Karim El Solh (Co-Founder & CEO, Gulf Capital), and Tariq Al-Sudairy (Managing Director & CEO, Jadwa Investment), and was moderated by Professor View Details

May 2001
Article

The Open Source Movement: Key Research Questions

By: Josh Lerner and Jean Tirole

The paper analyzes the incentives of individual programmers and of commercial companies to participate in open source projects. While these incentives are in our opinion well accounted for by the economic paradigm, much empirical and theoretical work is still needed to... View Details

Keywords: Motivation and Incentives; Open Source Distribution

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Student Research - Doctoral

pediatric inpatient (GPI) unit closures and openings nationally and by state; (2) how often closures or openings are caused by GPI unit changes only or caused by... 2024 Working Paper Capital Market... View Details

22 Jun 2011
Sharpening Your Skills

Sharpening Your Skills: Motivation

into the most effective way to design a compensation plan, concentrating on whether bonuses boost sales productivity and whether they should be awarded quarterly or annually. Research, focusing on the sales force of a large office supply company, was conducted View Details

Keywords: Re: Multiple Faculty

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Advisory Board - Entrepreneurship

received an appointment by Harvard Business School as an Entrepreneur-in-Residence and was named as one of Goldman Sachs’ 100 Most Intriguing Entrepreneurs. Ms. Beck was Ernst and Young’s Entrepreneur of the Year in 2005. Prior to... View Details

April 2011
Article

Private Equity and Long-Run Investment: The Case of Innovation

By: Josh Lerner, Morten Sorensen and Per Stromberg

A long-standing controversy is whether LBOs relieve managers from short-term pressures of dispersed shareholders, or whether LBO funds themselves are driven by short-term profit motives and sacrifice long-term growth to boost short-term performance. We investigate 495... View Details

Keywords: Patents; Private Equity; Leveraged Buyouts; Investment; Innovation and Invention

27 Apr 2021
Research & Ideas

New Research: Surviving Bankruptcy, Useful Economics, and Retirement

of dollars every year. I estimate that liquidation is frequently chosen when a reorganization would have maximized total creditor recovery. I estimate that courts could dramatically improve creditor recovery by assigning liquidations... View Details

May 2009
Article

The Empirical Impact of Intellectual Property Rights on Innovation: Puzzles and Clues

Economists have long seen the patent system as a crucial lever through which policymakers affect the speed and nature of innovation in the economy. It is not surprising, then, that the profound changes which have roiled the global patent system over the past 20 years... View Details

Keywords: Economy; Policy; Innovation and Invention; Intellectual Property; Rights; Business and Government Relations

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How I Spent my 2+2 Deferral: Matthew Young - MBA

Commanders for the last two years of my deferral. I wrapped up my time in Washington as the team’s Chief of Staff, where I had the opportunity to pursue many strategic priorities including the sale of our team to HBS Alumni Josh Harris... View Details

August 2012
Case

Messer Griesheim (A) (Abridged)

By: Josh Lerner, Eva Lutz and Kerry Herman

In 2001, Allianz Capital Partners and Goldman Sachs acquired a majority stake in Messer Griesheim, a European industrial gas concern held by Hoechst. The dealmakers faced several challenges, including delicate corporate governance issues due to partial family... View Details

Keywords: Germany; Energy; Private Equity; Venture Capital; Energy Industry; European Union

December 2012
Article

Inducement Prizes and Innovation

By: Liam Brunt, Josh Lerner and Tom Nicholas

We examine the effect of prizes on innovation using data on awards for technological development offered by the Royal Agricultural Society of England at annual competitions between 1839 and 1939. We find that the effects of prizes on competitive entry are large, and we... View Details

Keywords: Motivation and Incentives; Patents; Innovation and Invention; Information Technology; Growth and Development; England

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Past Issues - Alumni

ideas and trends that generated buzz in 2021—and could define 2022 New Wave Tapping the power of tides and waves to help power the planet is an attractive concept, but marine-energy companies have long been held back by issues ranging... View Details

February 2006 (Revised January 2007)
Case

ABRY Partners, LLC: WideOpenWest

By: Josh Lerner and Smart Darren

ABRY, a Boston-based private equity group, is considering whether to terminate its investment in WideOpenWest or to try to salvage the transaction by acquiring a division of telecommunications unit Ameritech. View Details

Keywords: Private Equity; Investment Portfolio; Problems and Challenges; Financial Services Industry; Media and Broadcasting Industry; Boston

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Entrepreneurial Management Awards & Honors - Faculty & Research

December 2013). Scott Duke Kominers : Honored as an Outstanding Alumnus in STEM and Business by the Center for Excellence in Education in 2013. Josh Lerner : Named one of the ten most influential academics... View Details

December 1992 (Revised September 1996)
Case

ImmuLogic Pharmaceutical Corporation (Abridged)

ImmuLogic Pharmaceutical Corp., a development-stage biotechnology company, is considering making an initial offering of common stock. The rationales for and problems of high-technology start-ups are explored. The challenges posed by "windows" for public offerings are... View Details

Keywords: Decisions; Initial Public Offering; Entrepreneurship; Going Public; Business Startups; Biotechnology Industry; Pharmaceutical Industry; United States

October 1992 (Revised November 1997)
Case

ImmuLogic Pharmaceutical Corporation (A): March 1991

ImmuLogic Pharmaceutical Corp., a development-stage biotechnology company, is considering making an initial offering of common stock. The diverse perspectives of the entrepreneur, venture capitalist, investment banker, and institutional investor are explored. Problems... View Details

Keywords: Decisions; Entrepreneurship; Venture Capital; Banks and Banking; Initial Public Offering; Going Public; Perspective; Valuation; Biotechnology Industry; Pharmaceutical Industry

29 Jul 2017
News

Fund managers challenged to confront lack of ethnic diversity

January 1995 (Revised November 1995)
Case

Candela Laser vs. Cynosure, Inc.

By: Josh Lerner and Benjamin Conway

Summarizes the lawsuit by Candela Laser against its former CEO and founder, who has begun a competing firm. The extent of patent and trade secret protection are crucial issues. View Details

Keywords: Information Technology; Patents; Lawsuits and Litigation; Entrepreneurship