Publications

December 2009
Article

From a Declaration of Values to the Creation of Value in Global Health

By: Jim Yong Kim, Joseph Rhatigan, Sachin H. Jain and Michael E. Porter

To make best use of the new dollars available for the treatment of disease in resource poor settings, global health practice requires a strategic approach that emphasizes value for patients, defined as health outcomes per dollar spent. Practitioners and global health... View Details

Keywords: Globalization; Health Care and Treatment; Infrastructure; Service Delivery; Outcome or Result; Poverty; Value Creation

September 2003 (Revised June 2005)
Case

Learning from LeapFrog: Creating Educational and Business Value

By: Lynda M. Applegate, Christopher Dede and Susan Saltrick

Explores the success factors leading to one's company's rise to the number three ranking in the aggressively competitive toy industry. LeapFrog has made the strategic decision to exploit its educational model in two industry sectors: consumer toys and educational... View Details

Keywords: Transformation; Decisions; Education; Entrepreneurship; Innovation and Invention; Growth Management; Media; Business and Stakeholder Relations; Research; Value Creation

January 2008
Background Note

Valuing Risky Debt

By: Joshua Coval and Erik Stafford

This lesson develops the classical structural approach to pricing and hedging credit risk: Merton's (1974) contingent claims model of debt and equity claims. This model is used to make investment and risk management decisions in an over-the-counter (OTC) market for... View Details

Keywords: Borrowing and Debt; Credit; Investment; Price; Risk Management; Mathematical Methods; Valuation

11 Dec 2023
Research & Ideas

Doing Well by Doing Good? One Industry’s Struggle to Balance Values and Profits

profits and, by and large, paying a living wage to their editorial employees, the study notes. That stability also enabled the field’s moral calling to mature and develop like it never had before, with a... View Details

Keywords: by Scott Van Voorhis

October 1994
Supplement

American Airlines' Value Pricing (C)

By: Alvin J. Silk and Jamie Harper

Designed as a follow-up to American Airlines' Value Pricing (A). View Details

Keywords: Aerospace Industry

Article

The Cross Section of Bank Value

By: Mark Egan, Stefan Lewellen and Adi Sunderam

We study the determinants of value creation in U.S. commercial banks. We develop novel measures of individual banks' productivities at collecting deposits and making loans. We relate these measures to bank market values and find that deposit productivity is responsible... View Details

Keywords: Productivity; Banks and Banking; Valuation; Performance Productivity; Value Creation; United States

Find at Harvard

03 Nov 2014
Working Paper Summaries

Adding Value Through Venture Capital in Latin America and the Caribbean

Keywords: by Josh Lerner, Ann Leamon, James Tighe & Susana Garcia-Robles; Financial Services

2022
Working Paper

How Do Investors Value ESG?

By: Malcolm Baker, Mark Egan and Suproteem K. Sarkar

Environmental, social, and governance (ESG) objectives have risen to near the top of the agenda for corporate executives and boards, driven in large part by their perceptions of shareholder interest. We quantify the value that shareholders place on ESG using a revealed... View Details

Keywords: Investment; Investment Portfolio; Corporate Social Responsibility and Impact; Business and Shareholder Relations; Environmental Sustainability; Governance; Financial Services Industry; United States

13 Jan 2012
Working Paper Summaries

The Impact of Modularity on Intellectual Property and Value Appropriation

Keywords: by Carliss Y. Baldwin & Joachim Henkel

05 Sep 2019
Working Paper Summaries

The Value of Intermediation in the Stock Market

Keywords: by Marco Di Maggio, Mark Egan, and Francesco Franzoni

Forthcoming
Article

Who Values Democracy?

By: Max Miller

This paper examines the conventional view that redistribution is central to the democratization process using data from stock markets. Consistent with this view, democratizations have a large, negative impact on asset valuations driven by a rise in redistribution risk.... View Details

Keywords: Government and Politics; Risk and Uncertainty; Financial Crisis; Macroeconomics; Financial Markets; Valuation

2008
Chapter

The Value Shift

By: Lynn Paine

Keywords: Values and Beliefs

7 Jan 2013
Other Presentation

Value Based Health Care Delivery: Welcome and Introduction

By: Michael E. Porter

Keywords: Health

March 1994 (Revised June 1999)
Background Note

Real Options: Valuing Managerial Flexibility

Provides a basic understanding of real options in corporate finance. Traditional discounted cash flow techniques (NPV) do not deal well with managerial flexibility or future response to uncertainty. The value of this flexibility can be significant and is handled well... View Details

Keywords: Strategy; Capital Budgeting; Corporate Finance

November 2013 (Revised May 2023)
Case

Valuing Yahoo! in 2013

By: Luis M. Viceira and Atul Khosla

In late July 2013, Danielle Engle, Managing Director of Clairemont Capital, was contemplating what to do about a large investment her fund had in the stock of Yahoo! Inc. In mid-2012, Clairemont had invested nearly $75M in Yahoo! after the tech company settled a highly... View Details

Keywords: Investment; Decision Making; Investment Activism; Business Model; Growth and Development Strategy; Valuation

January 2002 (Revised February 2002)
Case

Valuing the AOL Time Warner Merger

By: Lynda M. Applegate, Rena Miller and John N Rei

On January 11, 2000, AOL and Time Warner announced their intention to merge, creating what AOL CEO Stephen Case and Time Warner CEO Gerald Levin called the 21st century's first fully integrated communications, media, and entertainment company. This case, prepared from... View Details

Keywords: Mergers and Acquisitions; Management Analysis, Tools, and Techniques; Valuation; Situation or Environment; Media and Broadcasting Industry; Media and Broadcasting Industry

November 2002 (Revised February 2009)
Teaching Note

Value Retail (TN)

By: Arthur I Segel and Ani M Vartanian

Teaching Note for (9-803-008). View Details

Keywords: Investment; Risk and Uncertainty; Performance Effectiveness; Brands and Branding; Planning; Strategy; Luxury; Milan

November 2017
Teaching Note

Generating Higher Value at IBM (A) and (B)

By: Benjamin C. Esty and E. Scott Mayfield

Teaching Note for HBS Nos. 215-058 and 215-059. View Details

Keywords: Dividends; Share Repurchases; Earnings Guidance; Financial Statement Analysis; Financial Ratios; Payout Policy; Earnings Per Share (EPS); Earnings Management; Change Management; Leadership; Transformation; Financial Strategy

January–February 2019
Article

Corporate Purpose and Financial Performance

By: Claudine Gartenberg, Andrea Prat and George Serafeim

We construct a measure of corporate purpose within a sample of U.S. companies based on approximately 500,000 survey responses of worker perceptions about their employers. We find that this measure of purpose is not related to financial performance. However, high... View Details

Keywords: Corporate Purpose; Purpose; Employee Motivation; Belief Systems; Corporate Performance; Human Capital; Middle Management; Culture; Corporate Culture; Meaning; Mission and Purpose; Organizational Culture; Employees; Perception; Values and Beliefs; Performance Effectiveness