Publications

2008
Working Paper

Inexperienced Investors and Bubbles

By: Robin Greenwood and Stefan Nagel

We use mutual fund manager data from the technology bubble to examine the hypothesis that inexperienced investors play a role in the formation of asset price bubbles. Using age as a proxy for managers' investment experience, we find that around the peak of the... View Details

Keywords: Investment; Stocks; Information Technology; Price Bubble; Asset Management; Experience and Expertise

SSRN

15 Feb 2016
Working Paper Summaries

Replicating Private Equity with Value Investing, Homemade Leverage, and Hold-to-Maturity Accounting

Keywords: by Erik Stafford; Financial Services; Financial Services

16 Sep 2013
News

Earnings Calls That Get Lost in Translation

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

May 2021 (Revised May 2022)
Supplement

Odebrecht's 'Transformation Journey' (B)

By: Lynn S. Paine, Ruth Costas and Pedro Levindo

The case describes the changes in Odebrecht’s board of directors while the company had to file for court-supervised reorganization and cope with an ongoing feud within its founding family, and the new challenges that the Group’s leadership has to face. The changes in... View Details

Keywords: Corporate Misconduct; Corporate Governance; Crisis Management; Organizational Change and Adaptation; Reputation; Mission and Purpose; Business and Government Relations; Engineering; Family Business; Emerging Markets; Construction Industry; Brazil; Latin America

January 1999 (Revised April 2004)
Case

Infox System GmbH

Apax, a private equity firm, has an opportunity to invest in a travel-related print-materials distribution business in Germany. Infox is typical of many buyout opportunities. One of the founders seeks to exit the business, and recently hired managers will have to... View Details

Keywords: Private Equity; Leveraged Buyouts; Entrepreneurship; Investment; Financial Services Industry; Germany

June 2017
Article

Is Operating Flexibility Harmful under Debt?

By: Nikolaos Trichakis, Dan A. Iancu and Gerry Tsoukalas

We study the inefficiencies stemming from a firm's operating flexibility under debt. We find that flexibility in replenishing or liquidating inventory, by providing risk-shifting incentives, could lead to borrowing costs that erase more than a third of the firm's... View Details

Keywords: Covenants; Risk-shifting; Inventory; Agency Costs; Debt Financing; Risk Management; Borrowing and Debt

Find at Harvard

Web

Founders & Investors - Entrepreneurship

Plant Maintenance LLC. MBA 2015 Joaquin Altenberg CEO, Clean Energy Nexus PR MBA 2002 Randolph Altschuler Co-Founder & CEO, Xometry MBA 1998 Amy G. An Founder, Sage & Row MBA 2014 Jill Applebaum Co-Founder, Spruce & Co MBA 2015 Magnus Arantes Co-Founder & View Details

August 2009
Article

Inexperienced Investors and Bubbles

By: Robin Greenwood and Stefan Nagel

We use mutual fund manager data from the technology bubble to examine the hypothesis that inexperienced investors play a role in the formation of asset price bubbles. Using age as a proxy for managers' investment experience, we find that around the peak of the... View Details

Keywords: Asset Price Bubbles; Investment Experience; Investor Age; Trend Chasing; Investment; Experience and Expertise; Age; Behavioral Finance; Price Bubble; Information Technology; Stocks

Web

Ways to Give Today - Alumni

support the Scholarship Fund or HBS. PLANNED GIVING By using different assets and planned giving strategies, you can support HBS and fulfill your financial goals. Learn More FAQ What is the School’s Federal Tax Identification Number? HBS... View Details

Web

Employment Data Trends

Health-Related Services 3% 2% 3% 3% 3% Investment Banking 3% 4% 3% 3% 5% Investment Management / Hedge Fund 7% 8% 8% 6% 6% Manufacturing 4% 4% 5% 6% 5% Aero / Auto / Transport Equipment 1% 1% 1% 2% 1% Cleantech 0% <1% <1% <1% <1% Energy /... View Details

September 2019 (Revised June 2021)
Case

Blenheim Chalcot

By: John R. Wells and Benjamin Weinstock

In April 2019, Manoj Badale and Charles Mindenhall, co-founders of Blenheim Chalcot, were contemplating how they might go about developing their portfolio. Since founding the company as an internet consultancy called netdecisions in 1998, Badale and Mindenhall had... View Details

Keywords: Venture Capital; Entrepreneurship; Business Model; Growth and Development Strategy; United Kingdom; United States; India

September 2005 (Revised June 2012)
Case

New Songdo City

By: Arthur I Segel, Brandon Blaser, Gerardo Garza, Albert Kim, John Richard and Andrew Murphy

The government of South Korea has chosen John Hynes and Gale International to construct New Songdo City. This is an entirely new city, about the size of Boston, between the new Incheon airport and the capital of Seoul. The proposed city is the government's attempt to... View Details

Keywords: Buildings and Facilities; Urban Development; Construction; Design; Climate Change; South Korea

September 2013
Case

Boston Children's Hospital: Measuring Patient Costs (Abridged)

By: Robert S. Kaplan

The case describes a pilot project on applying activity-based costing to measure the cost of treating patients. After an overview of Boston Children's Hospital and its local health care market environment, the case presents process maps and financial data relating to... View Details

Keywords: Health Care; Time-Driven Activity-Based Costing; Costing; Hospitals; Activity Based Costing and Management

February 2000 (Revised October 2000)
Case

Kendle International Inc.

By: Dwight B. Crane, Paul W. Marshall and Indra Reinbergs

Candace Kendle and Christopher Bergen, the CEO and COO of Kendle International, Inc., are reviewing ways to finance the growth of their privately-owned company. Kendle is a contract research organization that conducts clinical drug trials for pharmaceutical and... View Details

Keywords: Acquisition; Financing and Loans; Venture Capital; Stock Options; Banks and Banking; Debt Securities; International Finance; Financial Strategy; Management Skills; Private Ownership; Initial Public Offering; Biotechnology Industry; Pharmaceutical Industry

Web

Research - Global

February 2025 Case Managing EPS at Stanley Black & Decker? By: Jonas Heese , Joseph Pacelli , Yuan Zou and James Barnett The case explores Stanley Black and Decker’s (SBD) 2022 financial restatement... View Details

08 Aug 2018
Blog Post

Hands-on Experience in Hospitality

Before I came to HBS, I worked in consulting. I knew that I wanted a different experience for my summer and looked at multiple leadership development programs. One stood out: Marriott’s Management Acceleration Program. With Marriott, I’m... View Details

Keywords: Hospitality

December 1994 (Revised December 1995)
Case

The JKJ Pension Fund

By: William J. Poorvu and John H. Vogel Jr.

The JKJ pension fund currently has $187 million invested in 14 properties. Sarah Griffin, the portfolio manager for real estate, needs to value each of the properties and recommend which ones should be sold and which ones to hold. She further needs to recommend... View Details

Keywords: Property; Investment Portfolio; Valuation; Investment Funds; Financial Management; Financial Services Industry; Financial Services Industry

January 2024
Case

ECOALF: Fashion for the Future

By: Elizabeth A. Keenan, Diego Aparicio, Carlota Moniz and María José Satrústegui

ECOALF, a Spanish fashion brand and sustainability pioneer, aimed to tackle the industry's challenges of excessive consumption and production. The brand's mission was to create timeless apparel exclusively from recycled and eco-responsible materials, matching the... View Details