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- All HBS Web
(2,055)
- Faculty Publications (348)
- November 2008
- Journal Article
Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises
By: Mihir A. Desai, C. Fritz Foley and Kristin Forbes
This paper examines how financial constraints and product market exposures determine the response of multinational and local firms to sharp depreciations. U.S. multinational affiliates increase sales, assets, and investment significantly more than local firms during,... View Details
Keywords: Economic Growth; Financial Crisis; Currency; Private Equity; Foreign Direct Investment; Multinational Firms and Management; Emerging Markets; United States
Desai, Mihir A., C. Fritz Foley, and Kristin Forbes. "Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises." Review of Financial Studies 21, no. 6 (November 2008).
- July 2008
- Case
Hilton Hotels: Brand Differentiation through Customer Relationship Management
By: Lynda M. Applegate, Gabriele Piccoli and Chekitan Dev
This case analyzes the Hilton Hotels Corporation's CRM strategy at a key juncture in its history, immediately after the firm has been taken private by Blackstone. The case provides students with a comprehensive history of the evolution and IT enablers of Hilton's CRM... View Details
Keywords: Customer Relationship Management; Marketing Strategy; Privatization; Performance Evaluation; Information Technology; Accommodations Industry
Applegate, Lynda M., Gabriele Piccoli, and Chekitan Dev. "Hilton Hotels: Brand Differentiation through Customer Relationship Management." Harvard Business School Case 809-029, July 2008.
- April 2008
- Case
TerraCog Global Positioning Systems: Conflict and Communication on Project Aerial
By: Michael Beer and Sunru Yong
TerraCog, a successful privately held high-tech firm that develops GPS (global positioning system) and similar products for consumer markets, has recently been caught off-guard by a competitor's new product that makes novel use of satellite imagery. When TerraCog... View Details
Keywords: Organizational Behavior; Meetings; Decision Making; Group Dynamics; Human Resource Management; Conflict; Information Technology; Leadership; Conflict Management; Competition; Groups and Teams; Organizational Culture; Human Resources; Communication; Decision Choices and Conditions; Crisis Management; Technology Industry
Beer, Michael, and Sunru Yong. "TerraCog Global Positioning Systems: Conflict and Communication on Project Aerial." Harvard Business School Brief Case 082-184, April 2008.
- March 2008 (Revised June 2009)
- Case
Actis: January 2008
By: Felda Hardymon, Josh Lerner and Ann Leamon
Paul Feltcher, the CEO of Actis, a leading private equity investor in emerging markets, is preparing for an executive retreat at which the management team will consider how best to position the firm for the future. Actis could move in a number of different directions... View Details
Keywords: Business Model; Private Equity; Investment; Growth and Development Strategy; Management Teams; Emerging Markets; Organizational Change and Adaptation
Hardymon, Felda, Josh Lerner, and Ann Leamon. "Actis: January 2008." Harvard Business School Case 808-130, March 2008. (Revised June 2009.)
- March 2008 (Revised April 2009)
- Case
Eliot Spitzer: Pushing Wall Street to Reform
By: Rawi Abdelal, Rafael Di Tella and Jonathan Schlefer
New York State Attorney General Eliot Spitzer faced a decision about how to stop wrongdoing committed by major Wall Street firms during the Internet boom. The equities analysts of Merrill Lynch and other Wall Street firms were charged with objectively advising retail... View Details
Keywords: Crime and Corruption; Decisions; Financial Institutions; Stocks; Governing Rules, Regulations, and Reforms; Laws and Statutes; Lawsuits and Litigation; Conflict of Interests; Internet; Financial Services Industry; United States
Abdelal, Rawi, Rafael Di Tella, and Jonathan Schlefer. "Eliot Spitzer: Pushing Wall Street to Reform." Harvard Business School Case 708-019, March 2008. (Revised April 2009.)
- February 2008 (Revised November 2015)
- Case
Danaher Corporation
By: Bharat Anand, David J. Collis and Sophie Hood
Between 1985 and 2007, Danaher has been one of the best-performing industrial conglomerates in the U.S. This case examines the corporate strategy of this diversified, global corporation. It describes the firm's portfolio strategy and the Danaher Business System—a... View Details
Keywords: Business Conglomerates; Global Strategy; Multinational Firms and Management; Growth and Development Strategy; Organizational Culture; Corporate Strategy; Value Creation
Anand, Bharat, David J. Collis, and Sophie Hood. "Danaher Corporation." Harvard Business School Case 708-445, February 2008. (Revised November 2015.)
- January 2008 (Revised March 2009)
- Case
Fortress Investment Group
By: Malcolm Baker, Carlos M. Galvez and James Quinn
CEO Wesley Edens and the five Fortress principals are contemplating a move unprecedented in the industry: becoming the first hedge fund and private equity firm to complete an IPO on the New York Stock Exchange (NYSE). This case examines potential reasons for a leading... View Details
Keywords: Private Equity; Public Equity; Initial Public Offering; Investment Funds; Going Public; Valuation; Financial Services Industry
Baker, Malcolm, Carlos M. Galvez, and James Quinn. "Fortress Investment Group." Harvard Business School Case 208-080, January 2008. (Revised March 2009.)
- December 2007
- Background Note
Tools and Tactics for Transformation: Three "Whats" and Three "Hows"
By: James K. Sebenius and Stephen Friedman
Important transformation at Goldman Sachs, where one of the authors was Chairman, required analysis, political leadership, and management in order to fundamentally shift the strategy, people, and culture on a sustainable basis. After describing the actions needed to... View Details
Keywords: Negotiation Tactics; Business Strategy; Organizational Culture; Transition; Strategic Planning; Core Relationships; Multinational Firms and Management; Leadership Style; Organizational Change and Adaptation; Private Equity
Sebenius, James K., and Stephen Friedman. Tools and Tactics for Transformation: Three "Whats" and Three "Hows". Harvard Business School Background Note 908-028, December 2007.
- November 2007 (Revised March 2009)
- Case
Clear Channel 2006
By: Richard S. Ruback and Leslie Pierson
The Board of Directors of Clear Channel Communications, a radio broadcasting and outdoor advertising company, has to respond to a revised proposal from two private equity firms to take the company private. In November of 2006, the Board had unanimously approved an... View Details
Keywords: Decision Choices and Conditions; Private Equity; Governing and Advisory Boards; Negotiation Offer; Privatization; Business and Shareholder Relations
Ruback, Richard S., and Leslie Pierson. "Clear Channel 2006." Harvard Business School Case 208-083, November 2007. (Revised March 2009.)
- October 2007
- Case
Blue River Capital
By: Krishna G. Palepu, Tarun Khanna and Richard Bullock
Examines the strategy and experience of Indian private equity firm Blue River Capital. Blue River was established in 2005 to invest primarily in middle market, particularly family-run, businesses in India. Blue River caters to this niche as an active investor,... View Details
Keywords: Private Equity; Investment Portfolio; Corporate Governance; Emerging Markets; Family Ownership; Competitive Strategy; Financial Services Industry; India
Palepu, Krishna G., Tarun Khanna, and Richard Bullock. "Blue River Capital." Harvard Business School Case 708-448, October 2007.
- August 2007 (Revised February 2008)
- Case
Pinnacle Ventures
By: Michael J. Roberts, William A. Sahlman and Elizabeth Kind
Describes a prospective "venture debt" loan to a new venture from the perspective of Patrick Lee, a principal at Pinnacle Ventures. Forces students to grapple with the nature of financial risk in the start-up firm and assess the prospective risks and returns to a... View Details
Keywords: Risk and Uncertainty; Venture Capital; Investment Return; Business Startups; Financial Services Industry
Roberts, Michael J., William A. Sahlman, and Elizabeth Kind. "Pinnacle Ventures." Harvard Business School Case 808-048, August 2007. (Revised February 2008.)
- 2007
- Working Paper
Hedge Fund Investor Activism and Takeovers
By: Robin Greenwood and Michael Schor
We examine long-horizon stock returns around hedge fund activism in a comprehensive sample of 13D filings by portfolio investors between 1993 and 2006. Abnormal returns surrounding investor activism are high for the subset of targets that are... View Details
Keywords: Mergers and Acquisitions; Private Equity; Investment Return; Investment Activism; Investment Portfolio; Corporate Governance
Greenwood, Robin, and Michael Schor. "Hedge Fund Investor Activism and Takeovers." Harvard Business School Working Paper, No. 08-004, July 2007.
- 2007
- Other Unpublished Work
Hedge Fund Investor Activism and Takeovers
By: Robin Greenwood and Michael Schor
We examine long-horizon stock returns around hedge fund activism in a comprehensive sample of 13D filings by portfolio investors between 1993 and 2006. Abnormal returns surrounding investor activism are high for the subset of targets that are acquired ex-post, but not... View Details
Keywords: Mergers and Acquisitions; Private Equity; Investment Return; Investment Activism; Investment Portfolio; Corporate Governance
Greenwood, Robin, and Michael Schor. "Hedge Fund Investor Activism and Takeovers." 2007.
- April 2007 (Revised October 2007)
- Background Note
An Overview of Project Finance & Infrastructure Finance - 2006 Update
By: Benjamin C. Esty and Aldo Sesia
Provides an introduction to the fields of project finance and infrastructure finance, and gives a statistical overview of project-financed investments over the years from 2002 to 2006. Examples of project-financed investments include the $4 billion Chad-Cameroon... View Details
Esty, Benjamin C., and Aldo Sesia. "An Overview of Project Finance & Infrastructure Finance - 2006 Update." Harvard Business School Background Note 207-107, April 2007. (Revised October 2007.)
- January 2007 (Revised May 2008)
- Case
National Logistics Management: Founder Decisions
By: Lynda M. Applegate and Elizabeth Collins
Scott Taylor, CEO & founder of NLM, is a serial entrepreneur faced with an important decision. As his industry consolidates, he knows that his company must grow quickly, yet he believes he has reached the limit of what organic growth can achieve. Should he accept the... View Details
Keywords: Mergers and Acquisitions; Business Startups; Decision Choices and Conditions; Entrepreneurship; Growth and Development Strategy; Supply and Industry; Supply Chain
Applegate, Lynda M., and Elizabeth Collins. "National Logistics Management: Founder Decisions." Harvard Business School Case 807-125, January 2007. (Revised May 2008.)
- December 2006 (Revised May 2008)
- Case
Lion Capital and the Blackstone Group: The Orangina Deal
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
The managing partners of two private equity firms are hoping to forestall a third bidding round for a target company, the European beverage division of Cadbury Schweppes. As they wait to meet with the CEO, they revisit their assumptions on the deal and review the... View Details
Keywords: Mergers and Acquisitions; Private Equity; Negotiation Deal; Negotiation Process; Partners and Partnerships; Valuation; Europe
Hardymon, G. Felda, Josh Lerner, and Ann Leamon. "Lion Capital and the Blackstone Group: The Orangina Deal." Harvard Business School Case 807-005, December 2006. (Revised May 2008.)
- April 2006 (Revised April 2012)
- Background Note
The Role of Private Equity Firms in Merger and Acquisition Transactions
Explores the importance of private equity firms in merger and acquisitions activity around the globe. In many countries, these firms now account for one quarter of the total merger and acquisition activity of all firms. The larger private equity firms generate fees for... View Details
Keywords: Leveraged Buyouts; Mergers and Acquisitions; Private Equity; Investment Funds; Value Creation
Fruhan, William E., Jr. "The Role of Private Equity Firms in Merger and Acquisition Transactions." Harvard Business School Background Note 206-101, April 2006. (Revised April 2012.)
- April 2006 (Revised October 2006)
- Case
Chrysanthemum and Dragon: JAFCO Asia in China
By: Rawi E. Abdelal and David Lane
In the autumn of 2002, JAFCO Asia, a subsidiary of JAFCO Co., Ltd., became the first foreign private equity firm to open an office in Beijing's Haidian Science Park. JAFCO was the only Japanese private equity firm operating in China. As such, Managing Director Vincent... View Details
Keywords: History; International Relations; Business and Shareholder Relations; Business and Government Relations; Expansion; Market Entry and Exit; Performance Effectiveness; Foreign Direct Investment; Business Strategy; Financial Services Industry; China; Beijing; Japan
Abdelal, Rawi E., and David Lane. "Chrysanthemum and Dragon: JAFCO Asia in China." Harvard Business School Case 706-012, April 2006. (Revised October 2006.)
- 2006
- Working Paper
Too Motivated?
I show that an agent's motivation to do well (objectively) may be unambiguously bad in a world with differing priors, i.e., when people openly disagree on the optimal course of action. The reason is that an agent who is strongly motivated is more likely to follow... View Details
Keywords: Governance Controls; Employees; Wages; Measurement and Metrics; Outcome or Result; Performance; Agency Theory; Motivation and Incentives
Van den Steen, Eric J. "Too Motivated?" Sloan School of Management Working Paper, No. 4547-05, April 2006. (Available at SSRN.)
- March 2006 (Revised November 2006)
- Case
China: To Float or Not To Float? (C)- Esquel Group and the Chinese Renminbi
By: Laura Alfaro, Rafael M. Di Tella and Ingrid Vogel
In July 2005, China revalued its currency by 2.1% and adjusted its exchange rate regime toward a more market-based system. Esquel Group, a family-run, privately held textiles firm specializing in high-quality cotton shirts with its most significant manufacturing base... View Details
Keywords: Family Business; Currency Exchange Rate; Private Ownership; Problems and Challenges; Value Creation; China
Alfaro, Laura, Rafael M. Di Tella, and Ingrid Vogel. "China: To Float or Not To Float? (C)- Esquel Group and the Chinese Renminbi." Harvard Business School Case 706-023, March 2006. (Revised November 2006.)