Publications
Publications
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- All HBS Web
(2,133)
- Faculty Publications (557)
- January 2018
- Case
Environmental Technology Fund Partners and E-Leather
By: Vikram S. Gandhi and Aldo Sesia
It is 2014 and Environmental Technologies Fund (ETF) Partners, a UK-based venture capital firm, has an opportunity to invest in a privately held UK company that manufactured engineered composition leather extracted from waste leather using an environmentally friendly... View Details
- January 2018
- Case
Trian Partners' Proxy Contest at Procter & Gamble
By: Suraj Srinivasan and Quinn Pitcher
In July 2017, activist hedge fund Trian Partners announced that it was launching a proxy fight at U.S. consumer goods giant Procter & Gamble. P&G would be the largest company ever subjected to a proxy fight, as Trian sought to have its CEO, Nelson Peltz, elected to the... View Details
- December 2017 (Revised March 2018)
- Case
Kellogg Company/eighteen94 capital
By: David Bell, Damien McLoughlin and Natalie Kindred
With 33,000 employees and revenues of $13 billion in 2016, Kellogg Company was the world’s largest producer of branded packaged cereal and a leader in branded convenience foods. Founded in 1906 and based in Michigan, the company had a proud history of product and... View Details
Keywords: CPG; Consumer Packaged Goods; Cereal; Battle Creek; Michigan; Breakfast; Snack; Agribusiness; Change Management; Growth Strategy; Corporate Venture Capital; Innovation; Startup; Brand; Brand ＆ Product Management; Advertising; Demand and Consumers; Innovation and Invention; Venture Capital; Food; Brands and Branding; Marketing; Agriculture and Agribusiness Industry; Food and Beverage Industry; Consumer Products Industry; United States; Michigan; North America
- 2020
- Working Paper
The Real Exchange Rate, Innovation and Productivity
By: Laura Alfaro, Alejandro Cuñat, Harald Fadinger and Yanping Liu
We evaluate manufacturing firms' responses to changes in the real exchange rate (RER) using detailed firm-level data for a large set of countries for the period 2001–2010. We uncover the following stylized facts about regional variation of manufacturing firms'... View Details
- November 2017 (Revised April 2019)
- Case
Summa Equity: Building Purpose-Driven Organizations
By: George Serafeim
In 2015, Reynir Indahl left top Nordic private equity firm Altor Equity Partners to found Summa Equity (Summa). After long contemplation following the financial crisis, Indahl was convinced the financial system was producing negative externalities and that the current... View Details
Keywords: Corporate Purpose; ESG; ESG (Environmental, Social, Governance) Performance; Social Impact; Investment Management; Management Practices; Innovation; Voice; Environmental Impact; Private Equity; Social Enterprise; Finance; Capital Markets; Management Practices and Processes; Innovation Leadership; Leadership; Innovation and Management; Entrepreneurship; Mission and Purpose; Value Creation; Financial Services Industry; Norway; Sweden; Scandinavia
- 2017
- Working Paper
The Use and Misuse of Patent Data: Issues for Corporate Finance and Beyond
By: Josh Lerner
Patents and citations are powerful tools for understanding innovative activity inside the firm and are increasingly used in corporate finance research. But due to the complexities of patent data collection and the changing spatial and industry composition of innovative... View Details
- October 2017 (Revised April 2019)
- Case
Eastern Bank: Innovating Through Eastern Labs
By: Karen Mills, Dennis Campbell and Aaron Mukerjee
Eastern Bank is a 200-year-old New England mutual bank with a community focus. Eastern specializes in small business lending, having made strategic investments to become the top SBA lender in New England in the midst of the Great Recession, when other banks were... View Details
- Article
A Field Experiment on Search Costs and the Formation of Scientific Collaborations
By: Kevin Boudreau, Tom Brady, Ina Ganguli, Patrick Gaule, Eva C. Guinan, Anthony Hollenberg and Karim R. Lakhani
We present the results of a field experiment conducted at Harvard Medical School to understand the extent to which search costs affect matching among scientific collaborators. We generated exogenous variation in search costs for pairs of potential collaborators by... View Details
- September 2017 (Revised December 2017)
- Case
Hulu: Redefining the Way People Experience TV
By: Henry W. McGee and Christine Snively
In May 2017, Hulu CEO Mike Hopkins announced the launch of Hulu Live TV, a new offering that would "change the way people experience TV." The new service would allow consumers to bypass traditional cable and satellite delivery and use the Internet to access live... View Details
- September 2017 (Revised June 2019)
- Case
Dianrong: Marketplace Lending, Blockchain, and 'The New Finance' in China
By: Christopher J. Malloy, Lauren H. Cohen and Anthony K. Woo
This case examines the strategic positioning of Dianrong, one of the largest online peer-to-peer (P2P) lending platforms in China, in its attempt to become a foundational player in the expansion of the FinTech sector in Asia. Dianrong had recently announced the... View Details
- August 2017 (Revised February 2024)
- Teaching Note
Exotic Interest Rate Swaps: Snowballs in Portugal
By: Boris Vallee, Patrick Augustin and Philippe Rich
This case explores a complex swap transaction implemented by Metro do Porto in 2007. It represents an opportunity to study fixed income derivative instruments, such as plain-vanilla swaps and structured swaps, as well as understand the opportunities and challenges of... View Details
- August 2017 (Revised June 2018)
- Case
Enpara.com: Digital Bank at a Crossroad
By: Sunil Gupta and Eren Kuzucu
In March 2017, Elsa Pekmez Atan (MBA 2004), was wondering about the future of Enpara.com, a digital-only banking platform of QNB Finansbank. Since its launch in October 2012, Enpara had been successful in attracting over 600,000 customers by appealing to digital savvy,... View Details
- August 2017
- Case
CareMore Health System
By: Robert S. Huckman and Brian W. Powers
CareMore Health System—a physician-founded care delivery system and health plan—had developed and refined an innovative care model for at-risk seniors enrolled in Medicare managed care (i.e., Medicare Advantage) plans. CareMore's President, Sachin Jain, and his... View Details
- 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
- June 2017
- Article
The Political Economy of Financial Innovation: Evidence from Local Governments
By: Christophe Pérignon and Boris Vallée
We examine the toxic loans sold by investment banks to local governments. Using proprietary data, we show that politicians strategically use these products to increase chances of being re-elected. Consistent with greater incentives to hide the cost of debt, toxic loans... View Details
- 2017
- Working Paper
And the Children Shall Lead: Gender Diversity and Performance in Venture Capital
By: Paul A. Gompers and Sophie Q. Wang
With an overall lack of gender and ethnic diversity in the innovation sector documented in Gompers and Wang (2017), we ask the natural next question: Does increased diversity lead to better firm performances? In this paper, we attempt to answer this question using a... View Details
- May 2017 (Revised June 2017)
- Case
ATH Technologies (A): Making the Numbers
By: Robert Simons and Jennifer Packard
An exercise that takes students through five stages of growth in an entrepreneurial start-up in the medical devices industry: 1) founding, 2) growth, 3) push to profitability, 4) refocusing process, and 5) takeover by new management. At each stage, students must... View Details
Keywords: Strategy And Execution; Management Control Systems; Balancing Innovation And Control; Performance Management; Business Growth and Maturation; Business Startups; Profit; Geographic Location; Governance Controls; Innovation and Invention; Management Succession; Performance Evaluation; Medical Devices and Supplies Industry
- May 2017
- Case
ATH Technologies: Making the Numbers
By: Robert Simons and Jennifer Packard
An exercise that takes students through five stages of growth in an entrepreneurial start-up in the medical devices industry: 1) founding, 2) growth, 3) push to profitability, 4) relocation process, and 5) takeover by new management. At each stage, students must... View Details
Keywords: Balancing Innovation And Control; Performance Evaluation; Strategy And Execution; Management Control Systems; Risk Management; Business Growth and Maturation; Business Startups; Profit; Geographic Location; Governance Controls; Innovation and Invention; Management Succession; Medical Devices and Supplies Industry
- May 2017 (Revised October 2017)
- Case
Hyperloop Transportation Technologies: Building Breakthrough Innovations in Crowd-Powered Ecosystems
By: Lynda M. Applegate, Terri L. Griffith and Ann Majchrzak
Dirk Ahlborn, co-founder and CEO of Hyperloop Transportation Technologies, Inc. (HTT) looks back at the evolving organizational design and community that allows HTT to be crowd-powered. Since the founding in 2013, HTT has dealt with building an organization with less... View Details
- April 2017
- Case
China Construction Bank's Transformation
By: Krishna G. Palepu and Nancy Hua Dai
On March 29, 2017, Wang Hongzhang, Chairman of China Construction Bank, was considering the next steps in the bank’s transformation. In the challenging backdrop of economic slowdown, deep structure adjustment, interest rate liberalization, entry of financial players... View Details