Publications
Publications
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- All HBS Web
(1,426)
- Faculty Publications (321)
- August 2002 (Revised January 2003)
- Case
Australia-Japan Cable: Structuring the Project Company
By: Benjamin C. Esty and Carrie Ferman
In late September 1999, representatives from Telstri, Japan Telecom, and Teleglobe met to discuss the structure of the Australia-Japan Cable (AJC) project, a $520 million submarine cable system that would run from Australia to Japan. The sponsors, excited by the... View Details
- July 2002 (Revised August 2002)
- Supplement
Australia-Japan Cable: Structuring the Project Company
By: Benjamin C. Esty
Spreadsheet to (9-203-024). Download only. View Details
- July 2002 (Revised March 2003)
- Case
Restructuring Bulong's Project Debt
By: Benjamin C. Esty and Michael Kane
Preston Resources, a small Australian gold mining company, bought the Bulong nickel mine for A$319 million in November 1998 and financed the acquisition by issuing a US$185 million (A$294 million) project bond. At the time, mining had been underway for several months,... View Details
- June 2002
- Background Note
Note on the Equivalency of Methods for Discounting Cash Flows
Uses a numerical example to demonstrate that when you discount the cash flows to capital from a project at the weighted average cost of capital, you get same net present value result as you obtain when discounting the cash flows to equity at the cost of equity. Also... View Details
- May 2002 (Revised May 2002)
- Case
Garanti Bank: Transformation in Turkey (Abridged)
By: Rosabeth M. Kanter, Daniel Galvin and Maximilian Martin
Discusses the complete transformation and turnover in every division of Garanti Bank. Describes the multiple change projects managed and cross-cultural issues confronted during the 1990s and the organizational challenge of transforming Garanti Bank into one of Turkey's... View Details
- April 2002 (Revised February 2003)
- Module Note
Teaching Project Finance: An Overview of the Large-Scale Investment Course
By: Benjamin C. Esty
Large-Scale Investment is a case-based course about project finance for second-year MBA students. Project finance involves the creation of a legally independent project company financed with nonrecourse debt for the purpose of investing in a single-purpose industrial... View Details
- April 2002 (Revised February 2003)
- Background Note
An Economic Framework for Assessing Development Impact
By: Benjamin C. Esty, Frank J. Lysy and Carrie Ferman
Discusses the differences between private and social returns and describes an economic framework for assessing a project's social return [known as the economic rate of return (ERR)]. The framework begins by analyzing the impact of a new project on private financiers... View Details
- April 2002 (Revised May 2003)
- Case
Nghe An Tate & Lyle Sugar Company (Vietnam)
By: Benjamin C. Esty, Frank J. Lysy and Carrie Ferman
In September 1998, Paul Cooper, Tate & Lyle's finance director for international investments, asked the International Finance Corp. (IFC) to consider lending up to $45 million to finance a $90 million sugar mill in northern Vietnam. Ewen Cobban, an IFC agricultural... View Details
- April 2002 (Revised June 2003)
- Teaching Note
Nghe An Tate & Lyle Sugar Company (Vietnam), TN
By: Benjamin C. Esty and Carrie Ferman
Teaching Note for (9-202-054). View Details
- April 2002 (Revised May 2003)
- Supplement
An Overview of Project Finance-2002 Update
By: Benjamin C. Esty and Irina L. Christov
This case introduces to the field of project finance and provides a statistical overview of the project-financed investments over the last five years. It consists of four sections. The first section defines project finance and contrasts it with other well-known... View Details
- 2002
- Working Paper
Legal Risk as a Determinant of Syndicate Structure in the Project Finance Loan Market
By: Benjamin C. Esty and William L. Megginson
- spring 2002
- Article
Returns on Project-Financed Investments: Evolution and Managerial Implications
By: B. C. Esty
- December 2001 (Revised April 2003)
- Case
Poland's A2 Motorway
By: Benjamin C. Esty and Michael Kane
Autostrada Wielkopolska S.A. (AWSA) is a consortium of 18 firms that won a concession to build and operate Poland's first private toll road. In June 2000, AWSA's chief financial officer, Wojciech Gebicki, is preparing for a meeting with the projects' lead bankers to... View Details
- December 2001 (Revised April 2003)
- Case
Financing PPL Corporation's Growth Strategy
By: Benjamin C. Esty and Carrie Ferman
PPL Corp., an electric utility in Pennsylvania, needs to finance $1 billion of peaking plants as part of its new growth strategy. In February 2001, Steve May, director of finance for PPL's Global Division, is responsible for recommending a finance plan. After... View Details
- November 2001 (Revised November 2001)
- Supplement
Chad-Cameroon Petroleum Project
By: Benjamin C. Esty
Spreadsheet to (9-201-068). Download only. View Details
- October 2001 (Revised March 2006)
- Case
Chad-Cameroon Petroleum Development and Pipeline Project (A), The
By: Benjamin C. Esty and Carrie Ferman
On June 6, 2000, the World Bank's and IFC's board of directors was scheduled to vote on whether to approve funding for the $4 billion Chad-Cameroon Petroleum Development and Pipeline project. Although the project presented a unique opportunity to alleviate poverty in... View Details
- October 2001
- Case
SchoolSuccess.net
By: James E. Austin and Arthur McCaffrey
The mission of the nonprofit Jumpstart for Young Children was to address the problem of school readiness of low-income family preschoolers. It had been growing significantly, and to achieve its projected expansion would require major increases in funding. After... View Details
- July 2001 (Revised August 2004)
- Case
AdNet (A)
By: Ashish Nanda
Confronted by a business proposal that is remarkably similar to a project recently financed by a sister office, venture capitalist Monique LeMieux ponders what she should do. View Details
- May 2001 (Revised January 2003)
- Teaching Note
Calpine Corporation: The Evolution From Project to Corporate Finance TN
By: Benjamin C. Esty and Michael Kane
Teaching Note for (9-201-098). View Details