• October 2014
• Teaching Note

Financial Policy at Apple, 2013 (A) and (B)

By: Mihir A. Desai and Elizabeth Meyer

This is the teaching note to HBS case 214-085: Financial Policy at Apple, 2013 (A). View Details

Keywords: Apple; Steve Jobs; Forecast; Forecasting; Forecasting And Prediction; Shareholder Activism; Share Repurchase; Dividends; Financial Ratios; Preferred Shares; Cash Distribution; Corporate Finance; Borrowing and Debt; Financial Management; Financial Strategy; Technology Industry; Consumer Products Industry; United States; Republic of Ireland

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Desai, Mihir A., and Elizabeth Meyer. "Financial Policy at Apple, 2013 (A) and (B)." Harvard Business School Teaching Note 215-022, October 2014.

• October 2014
• Supplement

Financial Policy at Apple, 2013 Excel Supplement

By: Mihir Desai and Elizabeth A. Meyer

This is the Excel Supplement to Teaching Note 215-022: Financial Policy at Apple, 2013 (A) - (B). View Details

Keywords: Apple; Steve Jobs; Forecast; Forecasting; Forecasting And Prediction; Shareholder Activism; Share Repurchase; Dividends; Financial Ratios; Preferred Shares; Cash Distribution; Corporate Finance; Borrowing and Debt; Financial Management; Financial Strategy; United States; Republic of Ireland

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Desai, Mihir, and Elizabeth A. Meyer. "Financial Policy at Apple, 2013 Excel Supplement." Harvard Business School Spreadsheet Supplement 215-703, October 2014.

• October 2014
• Supplement

Financial Policy at Apple, 2013 Powerpoint Supplement

By: Mihir Desai and Elizabeth A. Meyer

This is the PowerPoint supplement to the teaching note: Financial Policy at Apple, 2013 (A) - (B), number 215-022. View Details

Keywords: Apple; Steve Jobs; Forecast; Forecasting; Forecasting And Prediction; Shareholder Activism; Share Repurchase; Dividends; Financial Ratios; Preferred Shares; Cash Distribution; Corporate Finance; Borrowing and Debt; Financial Management; Financial Strategy; Technology Industry; Consumer Products Industry; United States; Republic of Ireland

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Desai, Mihir, and Elizabeth A. Meyer. "Financial Policy at Apple, 2013 Powerpoint Supplement." Harvard Business School PowerPoint Supplement 215-023, October 2014.

• October 2014 (Revised July 2015)
• Case

Indus Towers: From Infancy to Maturity

By: Ranjay Gulati, Maxim Sytch and Rachna Tahilyani

Indus Towers, the world's largest telecom tower company, is a joint venture between three telecom rivals in India. These rivals—Bharti Airtel, Vodafone India, and Idea Cellular—combined their telecom towers to provide "shared telecom infrastructure" to wireless telecom... View Details

Keywords: Decisions; Judgments; Customer Focus and Relationships; Management; Information Technology; Mobile and Wireless Technology; Information Infrastructure; Telecommunications Industry; India

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Gulati, Ranjay, Maxim Sytch, and Rachna Tahilyani. "Indus Towers: From Infancy to Maturity." Harvard Business School Case 415-005, October 2014. (Revised July 2015.)

• September 2014 (Revised February 2017)
• Case

Turkcell

By: Felix Oberholzer-Gee, Charles C.Y. Wang and Esel Cekin

This case centers around the shareholder dispute between three major shareholders of Turkcell, and how its management vied against increasing regulatory intervention and market competition in the absence of a fully-functioning board. The battle for control of the... View Details

Keywords: Financial Performance; Regulatory Environment; Telecommunications; Marketing; Value Added; Pricing; Shareholder; Boards Of Directors; Governing and Advisory Boards; Corporate Governance; Conflict and Resolution; Business and Shareholder Relations; Telecommunications Industry; Turkey

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Oberholzer-Gee, Felix, Charles C.Y. Wang, and Esel Cekin. "Turkcell." Harvard Business School Case 715-009, September 2014. (Revised February 2017.)

• August 15, 2014
• Article

Can an Outside CEO Run a Family-Owned Business?

By: Josh Baron and Rob Lachenauer

This article explores the intricate dynamics that often characterize family-owned businesses, shedding light on key archetypes that play prominent roles within these organizations. Using a narrative approach, the article illustrates the challenges faced by leaders... View Details

Keywords: Family Ownership; Personal Characteristics; Family and Family Relationships; Management Practices and Processes

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Baron, Josh, and Rob Lachenauer. "Can an Outside CEO Run a Family-Owned Business?" Harvard Business Review (website) (August 15, 2014).

• July–August 2014
• Article

Obamacare Rules Pose Challenges for S Corp Owners

By: Josh Baron, Steve Salley and Judith L. Walsh

The article offers information financial impacts of tax by the U.S. Affordable Care Act (ACA) applied in January 2013 on family business shareholders and owners of S Corp. It discusses suggestions in tax planning to equalize tax burden including establishing family... View Details

Keywords: Ownership Type; Family Ownership; Compensation and Benefits; Taxation; Government Legislation

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Baron, Josh, Steve Salley, and Judith L. Walsh. "Obamacare Rules Pose Challenges for S Corp Owners." Family Business Magazine 25, no. 4 (July–August 2014): 18–19.

• June 2014
• Case

Financial Policy at Apple, 2013 (A)

By: Mihir A. Desai and Elizabeth A. Meyer

By the end of 2013, Apple had $137 billion dollars in cash and marketable securities. This case explores how companies can generate such large amounts of cash and how and if they should distribute it to shareholders, especially in the face of shareholder pressure. In... View Details

Keywords: Apple; Steve Jobs; Forecast; Forecasting; Forecasting And Prediction; Shareholder Activism; Share Repurchase; Dividends; Financial Ratios; Preferred Shares; Cash Distribution; Corporate Finance; Borrowing and Debt; Financial Management; Financial Strategy; Technology Industry; Consumer Products Industry; United States; Republic of Ireland

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Desai, Mihir A., and Elizabeth A. Meyer. "Financial Policy at Apple, 2013 (A)." Harvard Business School Case 214-085, June 2014.

• June 2014
• Supplement

Financial Policy at Apple, 2013 Student Supplement

By: Mihir Desai and Elizabeth A. Meyer

This is the student spreadsheet supplement to case 214-085, Financial Policy at Apple, 2013 (A). View Details

Keywords: Apple; Steve Jobs; Forecast; Forecasting; Forecasting And Prediction; Shareholder Activism; Share Repurchase; Dividends; Financial Ratios; Preferred Shares; Cash Distribution; Corporate Finance; Borrowing and Debt; Financial Management; Financial Strategy; Technology Industry; Consumer Products Industry; United States; Republic of Ireland

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Desai, Mihir, and Elizabeth A. Meyer. "Financial Policy at Apple, 2013 Student Supplement." Harvard Business School Spreadsheet Supplement 214-714, June 2014.

• June 2014 (Revised May 2017)
• Case

Southeastern Asset Management Challenges Buyout at Dell

By: Paul Healy, Suraj Srinivasan and Aldo Sesia

In late 2012, Michael Dell wants to take Dell Inc., the company he founded, private. Mr. Dell believes that the successful company's transformation from a personal computer (PC) manufacturer to an enterprise solutions and services provider (ESS) is dependent on going... View Details

Keywords: Leveraged Buyout Transaction; Leveraged Recapitalization; Management Buyout; Dell, Inc.; Hedge Fund; Corporate Governance Theory; Valuation; Valuation Ratios; Valuation Methodologies; Board Of Directors; Boards Of Directors; Carl Icahn; Computer Services Industries; Proxy Contest; Proxy Battles; Proxy Fight; Proxy Advisor; Financial Accounting; Financial Analysis; Financial Ratios; Finance; Corporate Accountability; Corporate Governance; Corporate Finance; Leveraged Buyouts; Computer Industry; United States

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Healy, Paul, Suraj Srinivasan, and Aldo Sesia. "Southeastern Asset Management Challenges Buyout at Dell." Harvard Business School Case 114-015, June 2014. (Revised May 2017.)

• June 2014
• Supplement

Financial Policy at Apple, 2013 (B)

By: Mihir Desai and Elizabeth A. Meyer

This case is meant to accompany Financial Policy at Apple, 2013 (A) and details the results of Apple's Q2 2013 earnings call. View Details

Keywords: Apple; Steve Jobs; Forecast; Forecasting; Forecasting And Prediction; Shareholder Activism; Share Repurchase; Dividends; Financial Ratios; Preferred Shares; Cash Distribution; Corporate Finance; Borrowing and Debt; Financial Management; Financial Strategy; Technology Industry; Consumer Products Industry; United States; Republic of Ireland

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Desai, Mihir, and Elizabeth A. Meyer. "Financial Policy at Apple, 2013 (B)." Harvard Business School Supplement 214-094, June 2014.

• 2014
• Chapter

Can For-Profit Corporations Be Good Citizens? Perspectives from Four Business Leaders

By: Nien-he Hsieh

This chapter serves an epilogue, turning to ask practitioners how they would answer the question, "Can for-profit corporations be good citizens?" In reflecting on their answers, the chapter puts forward an account that grounds the purpose and responsibilities of... View Details

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Hsieh, Nien-he. "Can For-Profit Corporations Be Good Citizens? Perspectives from Four Business Leaders." Chap. 16 in Corporations and Citizenship, edited by Greg Urban. Philadelphia: University of Pennsylvania Press, 2014.

• April 29, 2014
• Column

Corporate Reporting in the Big Data Era

By: George Serafeim

Advancements in information technology can improve corporate communication with shareholders, but not through incessant data dumps. Instead, companies will more likely be poised for continued success if they use digital platforms for long-term oriented engagement and... View Details

Keywords: Integrated Reporting; Big Data; Corporate Reporting; Sustainability; Corporate Social Responsibility; Corporate Governance; Accounting; Reporting; Organizational Change and Adaptation; Corporate Accountability; Analytics and Data Science; Information Technology; Communication; Financial Reporting; Business and Shareholder Relations

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Serafeim, George. "Corporate Reporting in the Big Data Era." IIRC Blog (April 29, 2014).

• April 2014 (Revised June 2014)
• Case

Wawa Inc.

By: Blythe J. McGarvie, Dennis Campbell and Kristin Stack

Retailing requires attention to detail and customer and employee loyalty. Wawa is a 50-year old food retailer with almost a cult-like following. With $9 billion in revenues, Wawa is the 50th largest privately-held company in the US. Learn how they have accomplished... View Details

Keywords: Accounting; Management

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McGarvie, Blythe J., Dennis Campbell, and Kristin Stack. "Wawa Inc." Harvard Business School Case 114-086, April 2014. (Revised June 2014.)

• April 2014
• Article

Golden Parachutes and the Wealth of Shareholders

By: Lucian A. Bebchuk, Alma Cohen and Charles C.Y. Wang

Golden parachutes (GPs) have attracted substantial attention from investors and public officials for more than two decades. We find that GPs are associated with higher expected acquisition premiums and that this association is at least partly due to the effect of GPs... View Details

Keywords: Golden Parachute; Acquisitions; Takeovers; Acquisition Takeover; Acquisition Likelihood; Acquisition Premiums; Agency Costs; Managerial Slack; Dodd-Frank; Executive Compensation; Acquisition; Corporate Governance; Business and Shareholder Relations

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Bebchuk, Lucian A., Alma Cohen, and Charles C.Y. Wang. "Golden Parachutes and the Wealth of Shareholders." Journal of Corporate Finance 25 (April 2014): 140–154.