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Show Results For
- All HBS Web
(8,733)
- People (19)
- News (1,757)
- Research (5,675)
- Events (41)
- Multimedia (110)
- Faculty Publications (3,903)
- 2010
- Working Paper
Valuation When Cash Flow Forecasts Are Biased
This paper focuses adaptations to the discount cash flow (DCF) method when valuing forecasted cash flows that are biased measures of expected cash flows. I imagine a simple setting where the expected cash flows equal the forecasted cash flows plus an omitted downside.... View Details
Keywords: Forecasting and Prediction; Cash Flow; Cost of Capital; Performance Expectations; Prejudice and Bias; Valuation
Ruback, Richard S. "Valuation When Cash Flow Forecasts Are Biased." Harvard Business School Working Paper, No. 11-036, October 2010.
- Web
The Competition - A Concrete Symbol: The Building of Harvard Business School 1908-1927 – Baker Library | Bloomberg Center, Historical Collections
candidates from a pool of forty-nine, who had been requested to submit drawings, and six who had worked previously with Harvard or George F. Baker. Competition drawing for the HBS library by Parker, Thomas & Rice, 1924. The competition... View Details
- May 2018
- Case
Kaiser Permanente Colorado: Primary Care Plus
By: Robert S. Kaplan and Mahek A. Shah
A geriatrician in Kaiser Permanente’s Colorado region is concerned with the high and growing cost of treating the elderly population. She introduces a new care model, Primary Care Plus, using an interdisciplinary team of a primary care doctor, palliative care... View Details
Keywords: Primary Health Care; Elderly Patients; Integrated Practice Unit; Interdisciplinary Care; Health Care and Treatment; Age; Cost Management; Performance Improvement; Health Industry; United States; Colorado
Kaplan, Robert S., and Mahek A. Shah. "Kaiser Permanente Colorado: Primary Care Plus." Harvard Business School Case 118-053, May 2018.
- September 1995 (Revised May 1998)
- Case
RogersCasey Alternative Investments: Innovative Response to the Distribution Challenge
By: Josh Lerner
RogersCasey Alternative Investments faces the challenge of managing distributions of stock by the private equity investors in which their clients have invested. These distributed shares appear to behave in complex ways, apparently at odds with market efficiency. A... View Details
Keywords: Private Equity; Stocks; Financial Strategy; Investment; Innovation Strategy; Management; Distribution; Performance; Behavior
Lerner, Josh. "RogersCasey Alternative Investments: Innovative Response to the Distribution Challenge." Harvard Business School Case 296-024, September 1995. (Revised May 1998.)
- October 1992 (Revised August 1994)
- Case
Allied-Signal: Managing the Hazardous Waste Liability Risk
By: Richard H.K. Vietor and Edward Prewitt
Allied-Signal, Inc., one of the world's oldest chemical companies and today a diversified conglomerate, is liable for clean-up costs of old hazardous waste sites. These costs are substantial: reserves grew to nearly $500 million in 1991. Attempting to avoid further... View Details
Keywords: Wastes and Waste Processing; Environmental Sustainability; Programs; Cost Management; Policy; Government Legislation; Factories, Labs, and Plants; Governance Compliance; Legal Liability; Chemical Industry; United States; Europe
Vietor, Richard H.K., and Edward Prewitt. "Allied-Signal: Managing the Hazardous Waste Liability Risk." Harvard Business School Case 793-044, October 1992. (Revised August 1994.)
- June 2022 (Revised November 2023)
- Case
Individual FoodService, Kelso, and Ken Sweder
By: Jo Tango and Alys Ferragamo
When and how much risk to take? In October 2020, Ken Sweder, CEO of Individual FoodService (“IFS”), contemplated this question as he evaluated a proposal to acquire Brady Industries, a distributor of janitorial and sanitation products. Sweder and his private equity... View Details
Keywords: COVID-19 Pandemic; Risk Management; Mergers and Acquisitions; Value Creation; Business Divisions
Tango, Jo, and Alys Ferragamo. "Individual FoodService, Kelso, and Ken Sweder." Harvard Business School Case 822-144, June 2022. (Revised November 2023.)
- September 2011
- Case
Anne Riley: Laid Off
By: Sandra J. Sucher and Phillip Andrews
This case describes the experience of Anne Riley, a 28 year old private equity analyst, who was laid off in 2008. The case explores the emotions she felt throughout the process and how she handled the experience. View Details
Keywords: Resignation and Termination
Sucher, Sandra J., and Phillip Andrews. "Anne Riley: Laid Off." Harvard Business School Case 612-008, September 2011.
- Career Coach
Shub Chhokra
Having worked across all these industries, Shub can provide insight on how these industries recruit, personal brand positioning, cover letter/resume reviews, career visioning/mapping, and interview prep. He enjoys working with students in all parts View Details
- July 2004 (Revised June 2005)
- Case
Digitas (A)
By: Jay W. Lorsch and Ashley Robertson
Raises issues about how the nature and function of a board changes as its company moves from ownership by its employees (including the founder) to ownership by a private equity firm, Hellman & Friedman, to public ownership. Teaching Purpose: To consider changes in... View Details
Keywords: Private Equity; Governing and Advisory Boards; Behavior; Organizations; Employee Ownership; Public Ownership
Lorsch, Jay W., and Ashley Robertson. "Digitas (A)." Harvard Business School Case 405-023, July 2004. (Revised June 2005.)
- Blog
Two-Year Action Plan Update: Q+A with Terrill Drake, Chief Diversity and Inclusion Officer at Harvard Business School
Equity Fellows, which were originally going to be part of a new Initiative. Now we're thinking about the role that BiGS and the fellows play in helping to amplify and disseminate information about DEI—and... View Details
- September 2016 (Revised March 2018)
- Case
Qalaa Holdings and the Egyptian Refining Company
By: Victoria Ivashina and Marc Homsy
This case follows Qalaa Holdings, a successful Egypt-based private equity firm, and gives insight into the types of investments it pursued, its growth over time, and the limited partner base it had at hand. It also allows students to consider and debate whether the... View Details
Keywords: Africa; Structuring And Financing Large Projects; Private Equity; Infrastructure; Project Finance; Emerging Markets; Financial Services Industry; Egypt; Africa
Ivashina, Victoria, and Marc Homsy. "Qalaa Holdings and the Egyptian Refining Company." Harvard Business School Case 217-011, September 2016. (Revised March 2018.)
- Article
A Simple Solution to a Very Old Problem
By: Hoff Stauffer and Jurgen Weiss
The article addresses the problem of fixed cost recovery via variable electricity rates creating disincentives for utilities to engage in energy efficiency. The article provides one solution, which is to decouple fixed cost recovery from sales volumes, with the help of... View Details
Stauffer, Hoff, and Jurgen Weiss. "A Simple Solution to a Very Old Problem." Electricity Journal 19, no. 4 (May 2006): 56–59.
- November 2019
- Case
Gillette: Cutting Prices to Regain Share
By: Benjamin C. Esty and Daniel Fisher
After losing market share to low-priced competitors such as Harry’s and Dollar Shave Club for several years, Gillette decided to fight back by launching new products and increasing advertising. When these efforts failed to stem the losses, Gillette decided to cut the... View Details
Keywords: Marketing Strategy; Product Positioning; Business Strategy; Competition; Price; Public Equity; Retail Industry; Consumer Products Industry; United States
Esty, Benjamin C., and Daniel Fisher. "Gillette: Cutting Prices to Regain Share." Harvard Business School Case 720-378, November 2019.
- June 2000 (Revised January 2003)
- Case
Nissan Motor Company
By: Thomas R. Piper and Jeremy Cott
Senior executives of Nissan and Renault are considering a major investment in Nissan by Renault. An important consideration is whether a major restructuring of Nissan's operations will be possible, given the value placed on lifetime employment and the impact on... View Details
Piper, Thomas R., and Jeremy Cott. "Nissan Motor Company." Harvard Business School Case 200-067, June 2000. (Revised January 2003.)
- 2025
- Working Paper
Impact Investing and Worker Outcomes
By: Josh Lerner, Markus Lithell and Gordon M. Phillips
Impact investors claim to distinguish themselves from traditional venture capital and growth
equity investors by also pursuing ESG objectives. Whether they successfully do so in practice
is unclear. We use confidential Census Bureau microdata to assess worker... View Details
Lerner, Josh, Markus Lithell, and Gordon M. Phillips. "Impact Investing and Worker Outcomes." Harvard Business School Working Paper, No. 25-040, February 2025.
- December 1997 (Revised September 1998)
- Case
Yale University Investments Office: November 1997
By: Josh Lerner
David Swensen, chief investment officer at Yale University, reviews the $6 billion endowment strategy, which places an unusually heavy emphasis on private equity and other illiquid securities. Changing market conditions in November 1997 cause him to rethink... View Details
Keywords: Change; Private Equity; Financial Liquidity; Investment; Marketing Strategy; Strategy; Education Industry
Lerner, Josh. "Yale University Investments Office: November 1997." Harvard Business School Case 298-077, December 1997. (Revised September 1998.)
- 2019
- Chapter
Return on Invested Capital (ROIC)
Return on invested capital (ROIC) is a financial measure of the profitability of a firm or business unit. If it is greater than the business's cost of capital, then reinvestment of earnings increases shareholder VALUE. The ROIC also determines a maximum self-sustaining... View Details
Keywords: Capital Efficiency; Dupont Analysis; Financial Metrics; Schumpeterian Competition; Sustainable Growth; Competitive Advantage; Financial Strategy; Resource Allocation; Valuation; Value Creation
Baldwin, Carliss Y. "Return on Invested Capital (ROIC)." In The Palgrave Encyclopedia of Strategic Management. Continuously updated edition, edited by Mie Augier and David J. Teece. Palgrave Macmillan, 2017. Electronic. (Pre-published, October 2013.)
- 19 May 2008
- Research & Ideas
Connecting School Ties and Stock Recommendations
social networks in the form of school ties—bonds formed based on attendance at a common educational institution—helped equity analysts outperform on stock recommendations when the analysts enjoyed an... View Details
- April 1989 (Revised March 1993)
- Case
ProTech, Inc.
By: Thomas R. Piper
A company is considering the elimination of a product line. As part of that consideration, it must develop possible strategies for closing the division, and identify the economic and non-economic implications of the strategy. The situation is complicated by the... View Details
Keywords: Marketing Strategy; Decision Making; Business Exit or Shutdown; Equity; Problems and Challenges
Piper, Thomas R. "ProTech, Inc." Harvard Business School Case 289-054, April 1989. (Revised March 1993.)
- 15 Jun 2008
- News