Publications

Research Summary

Trust

By: Sandra J. Sucher

In this research, I aim to provide a practical orientation to trust—how to build it, how it can be damaged, how it might be repaired—grounded in my experience as an executive and in the research on organizational trust and moral philosophy. As a case researcher, I... View Details

April 2005 (Revised October 2006)
Case

David Berman

By: Ananth Raman, Vishal Gaur and Saravanan Kesavan

Examines the decision of a hedge fund manager who is considering investing in a retail stock. The protagonist is concerned about the retailer's inventory level. Explores the relationship between the retailer's inventory and future earnings--and, hence, the relationship... View Details

Keywords: Business Earnings; Stocks; Price; Supply Chain Management; Investment

February 2003 (Revised March 2011)
Background Note

Between a Rock and a Hard Place: Valuation and Distribution in Private Equity

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

Introduces the issues attendant to valuing privately held portfolios and distributing thinly traded stock. Although they have existed since the beginning of the formal venture capital industry, they have received increasing amounts of attention as the money invested in... View Details

Keywords: Venture Capital; Private Equity; Stocks; Investment Portfolio; Valuation; Financial Services Industry

January 2013 (Revised June 2017)
Case

The Perfect Storm: What Happens When the Market Moves Four Standard Deviations?

By: Nori Gerardo Lietz

Adam Carter was the portfolio manager for Tate Modern Finance III, L.P. (“Tate” or the “Fund”), the third in a series of U.S. commercial real estate debt funds sponsored by the London-based Tate Partners. The Fund was capitalized with $700 million of equity... View Details

Keywords: CMBS; CLO; Repo Financing; Financial Strategy; Investment Funds; Financing and Loans

Program

Real Estate Management Program

Summary In today's increasingly unpredictable, competitive real estate sector, your ability to make the best decisions requires a thorough grasp of how the industry is evolving and how the relationships among design, development, financing, and View Details

Keywords: Real Estate; Real Estate

2025
Working Paper

When Where Watt: Harnessing the Value of Time and Location for Renewable Electricity Generation

By: Vishrut Rana, Christian Kaps and Serguei Netessine

Problem definition: Investments in renewable energy have surged worldwide in recent years, with over $2 trillion spent globally on clean energy. This surge was driven by growing policy support, concerns about energy security, and, most importantly, the cost... View Details

Keywords: Wind Power; Electricity Distribution; Renewable Energy; Profit; Investment Return; Factories, Labs, and Plants; Geographic Location; Revenue; Energy Industry; Utilities Industry

SSRN

March 1988 (Revised July 1990)
Case

Walt Disney Productions: Greenmail

Considers a firm whose investment strategies have essentially run out. Walt Disney's original visions and goals have all been fulfilled and after his death no new ones are forthcoming. Disney faces repeated takeover attacks and is forced to either set new corporate... View Details

Keywords: Corporate Strategy; Crisis Management; Acquisition; Financial Strategy; Entertainment and Recreation Industry; United States

July 2024
Article

JUE Insight: Infrastructure and Finance: Evidence from India's GQ Highway Network

By: Abhiman Das, Ejaz Ghani, Arti Grover, William Kerr and Ramana Nanda

We use data from Reserve Bank of India to study the impact of India's Golden Quadrilateral (GQ) highway project on finance-dependent activity. Loan volumes increase by 20-30% in districts along GQ and are stronger in industries more dependent upon external finance.... View Details

Keywords: Highways; Finance; Development; Infrastructure; Banks and Banking; Transportation Networks; Financing and Loans; Growth and Development; India

Read Now

September 2020 (Revised January 2021)
Case

Catalys Pacific

By: Joshua Lev Krieger

In 2019, BT Slingsby founds Catalys Pacific, the first biotech “venture creation” fund in Tokyo. After convincing some of the biggest Japanese pharmaceutical firms to invest, BT hopes the fund can make a big splash and transform biotechnology innovation in Japan. After... View Details

Keywords: Pharmaceutical Companies; Biotech; Health Care; Entrepreneur; Innovation; International Business; Entrepreneurial Finance; Entrepreneurship; Finance; Innovation Strategy; Venture Capital; Strategy; Cross-Cultural and Cross-Border Issues; Pharmaceutical Industry; Biotechnology Industry; Tokyo

February 2020 (Revised August 2022)
Case

Anomalie

By: Jeffrey F. Rayport and Thomas O. Jones

In early 2019, the founders of Anomalie, an online direct-to-consumer provider of bridal gowns, have just agreed to a $13.6 million Series A investment from a Silicon Valley VC. They are considering three major initiatives as they move forward. (1) To scale their very... View Details

Keywords: Direct-to-consumer; Entrepreneurship; Internet and the Web; Growth and Development Strategy; Decision Choices and Conditions; Apparel and Accessories Industry; Technology Industry

03 Oct 2019
News

Where Are All the Women in Private Equity?

January 2024
Case

Fusion Industry Association: Igniting the Future of Clean Energy

By: Joshua Lev Krieger, Jim Matheson, Kyle R. Myers and Henry Tao

Fusion energy is evolving from a scientific idea to a commercial possibility, drawing large investments and regulatory discussions; how should the FIA navigate this evolution?

The Fusion Industry Association (FIA) is at the forefront of transforming fusion... View Details

Keywords: Science-Based Business; Engineering; Venture Capital; Entrepreneurship; Government and Politics; Government Legislation; Industry Clusters; Industry Growth; Industry Structures; Technological Innovation; Energy Industry; United States

16 Aug 2012
Working Paper Summaries

The Cost of Friendship

Keywords: by Paul Gompers, Vladimir Mukharlyamov & Yuhai Xuan

13 Jan 2010
Working Paper Summaries

Private Equity and Industry Performance

Keywords: by Shai Bernstein, Josh Lerner, Morten Sørensen & Per Strömberg

December 2020
Case

XP: Dual Track Financing Alternatives

By: Marco Di Maggio, Pedro Levindo and Carla Larangeira

XP, an investment platform, was on the verge of defining whether to do an IPO or selling off a majority stake to Itaú Unibanco, Brazil´s largest financial conglomerate. Under the leadership of Guilherme Benchimol, XP´s co-founder and CEO, XP had risen to become the... View Details

Keywords: Financing Decisions; Expansion; Decision Choices and Conditions; Latin America; Brazil

December 2003 (Revised May 2004)
Case

Grove Street Advisors

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

Grove Street Advisors, a manager of customized private equity investment products, has been very successful in its first five years. To grow, the group must decide whether to target smaller organizations, revive its coinvestment efforts, or enter the highly competitive... View Details

Keywords: Business Organization; Decision Choices and Conditions; Private Equity; Investment; Market Entry and Exit; Competitive Strategy