Publications

February 2011 (Revised January 2015)
Supplement

Matrix Capital Management (A) (CW)

By: Malcolm P. Baker and David Lane

Spreadsheet supplement to Matrix Capital Management (A) allowing students to value the company. View Details

Keywords: Investment Funds; Valuation; Financial Services Industry

September 2011
Case

AXA Private Equity: The Diana Investment

By: Michael J. Roberts and William A. Sahlman

The case focuses on an investment made by AXA Private Equity, a French manufacturer of food ingredients. The investment is made at the height of the financial markets, and financed with significant debt. Soon thereafter, the financial crisis impacted the company's... View Details

Keywords: Private Equity; Ethics; Investment; Financial Crisis

October 1999 (Revised November 1999)
Case

Wit Capital: Evolution of the Online Investment Bank

Wit Capital brings democracy to the IPO process via the World Wide Web. This case encourages debate about the role service will play in this technology-intermediated investment bank and the sources and sustainability of its competitive advantage. View Details

Keywords: Initial Public Offering; Service Delivery; Competitive Advantage; Investment Banking; Web; Banking Industry

18 Nov 2010
Working Paper Summaries

Payout Taxes and the Allocation of Investment

Keywords: by Bo Becker, Marcus Jacob & Martin Jacob

December 2009
Case

Milliway Capital & Martin Smith: November 2008

By: G. Felda Hardymon, Matthew Rhodes-Kropf and Ann Leamon

Martin Smith, a recent MBA graduate, has just joined a top-tier venture capital firm in the difficult environment of late 2008. One of his first assignments is to review three companies in a partner's portfolio and recommend strategies for managing them. In addition,... View Details

Keywords: Investment Portfolio; Financial Management; Private Equity; Business Strategy; Partners and Partnerships; Venture Capital; Business or Company Management

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August 2008 (Revised May 2009)
Case

Kmart and ESL Investments (A)

By: Stuart C. Gilson and Sarah Abbott

A major bankrupt retailer is poised to emerge from Chapter 11. Two activist hedge funds ("vulture investors") will own over 50% of reorganized Kmart's common stock, based on prior investments in Kmart's debt claims, and an infusion of new equity financing. The Chapter... View Details

Keywords: Restructuring; Capital Structure; Insolvency and Bankruptcy; Investment; Investment Activism; Valuation; Financial Services Industry; Retail Industry; United States

May 2002
Case

Venture Capital Fund Restructuring Vignettes (Abridged)

By: Paul A. Gompers

This case examines the changes in fund structures proposed by four venture capital firms in 2002: Accel Partners, Battery Ventures, Charles River Ventures, and Kleiner Perkins Caufield & Byers. The venture capital market has experienced a major downturn, and these... View Details

Keywords: Venture Capital; Restructuring; Financial Crisis; Motivation and Incentives; Business and Shareholder Relations; Investment Funds; Financial Services Industry

2006
Article

Capital Budgeting: The Role of Cost Allocations

By: Ian D. Gow and Stefan Reichelstein

A common issue for firms is how to allocate capital resources to various investment alternatives. An extensive and long-standing literature in finance has examined various aspects of capital budgeting, including capital constraints, the determination of discount rates,... View Details

Keywords: Capital Budgeting; Resource Allocation; Performance Evaluation; Cost Management; Research; Investment; Cash Flow; Risk Management; Performance Capacity

January 2007 (Revised July 2008)
Case

Capital Field: A Room with a View

By: Nicolas P. Retsinas and Joshua Wyatt

Jerzy Peters, Managing Director of Patron Capital Partners, must decide the best investment option on the development of the Odra Polish theater chain and the associated real estate. Capital Field was a company formed by U.S.-educated Polish natives involved in real... View Details

Keywords: Investment; Emerging Markets; State Ownership; Privatization; Property; Real Estate Industry; Poland

05 Nov 2001
Research & Ideas

Venture Capital Goes Boom—or Bust?

of money. Before the emergence of the venture capital market, the vast majority of entrepreneurs seeking financing from traditional sources failed to realize value from their ideas. Indeed, many product or service innovators privately... View Details

Keywords: by Paul A. Gompers & Josh Lerner

June 2010 (Revised September 2013)
Case

IDFC India: Infrastructure Investment Intermediaries

By: John D. Macomber and Viraal Balsari

Indian financial intermediary matching international capital to local infrastructure decides how to balance range of services, risk-adjusted return, margin pressure, and nation building. IDFC was chartered with partial ownership from the Indian government to help... View Details

Keywords: Investment; Infrastructure; Corporate Social Responsibility and Impact; Mission and Purpose; State Ownership; Business and Government Relations; Business and Shareholder Relations; Partners and Partnerships; Financial Services Industry; India

February 2011 (Revised June 2011)
Case

Hardina Smythe and the Healthcare Investment Conundrum

By: Matthew Rhodes-Kropf, Ann Leamon and Lisa Strope

Hardina Smythe, a recent MBA graduate, has just joined a top-tier venture capital firm in the difficult environment of late 2010. Her first assignment is to evaluate three different deals and make recommendations to the partners. Each potential investment has strengths... View Details

Keywords: Venture Capital; Asset Management; Private Equity; Entrepreneurship; Investment; Health Care and Treatment; Innovation and Invention; Financial Services Industry

May 2010
Supplement

Tremblant Capital Group Exhibits (CW)

By: Robin Greenwood

Brett Barakett, CEO and founder of Tremblant Capital Group, a New York-based hedge fund, must decide what to do with his fund's position in Green Mountain Coffee Roasters, which has dropped in value by more than 40 percent in recent months. Tremblant is a hedge fund... View Details

Keywords: Transformation; Decisions; Forecasting and Prediction; Cash Flow; Cost of Capital; Stocks; Investment Funds; Consumer Behavior; Business Strategy; Competitive Advantage; New York (state, US)

03 Nov 2020
Working Paper Summaries

The Stock Market Value of Human Capital Creation

Keywords: by Matthias Regier and Ethan Rouen

June 1999 (Revised March 2001)
Case

New Business Investment Company: October 1997

By: Josh Lerner, Lee Branstetter and Takeshi Nakabayashi

A quasi-government organization seeks to stimulate entrepreneurship in Japan by making venture capital investments. The organization of the fund, identification of transactions, and oversight of portfolio firms pose considerable challenges. View Details

Keywords: Venture Capital; Entrepreneurship; Government and Politics; Problems and Challenges; Financial Services Industry; Japan

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23 Aug 2013
Working Paper Summaries

Waves in Ship Prices and Investment

Keywords: by Robin Greenwood & Samuel Hanson

10 Nov 2003
Research & Ideas

The Hard Numbers on Social Investments

For years an important debate has been raging in the social investing community about the potential of social purpose companies to deliver satisfactory returns to investors. The conventional wisdom is that View Details

Keywords: by Manda Salls

December 2000 (Revised February 2002)
Case

Pine Street Capital

A technology hedge fund is trying to decide whether and/or how to hedge equity market risk. Its hedging choices are short-selling and options. The fund has just gone through one of the most volatile periods in NASDAQ's history, it is trying to decide whether it should... View Details

Keywords: Risk Management; Investment Funds