Publications
Publications
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- All HBS Web
(3,157)
- Faculty Publications (596)
- September 2014 (Revised May 2015)
- Case
The United Kingdom and the Means to Prosperity
By: Laura Alfaro, Lakshmi Iyer and Hilary White
After struggling through the country's longest recession since 2008, the U.K. was expected to grow faster than any other G7 nation in 2014. Analysts wondered whether the return to growth was because, or in spite of, Prime Minister David Cameron's controversial £113... View Details
Keywords: United Kingdom; Keynesian Multiplier; Inflation; Inflation Targeting; Government Spending; Government Intervention In The Markets; Monetary Policy; Financial Crisis Management; Austerity; Inequality; Public Finance; Government Finance; Macroeconomics; Economics; Government and Politics; Inflation and Deflation; Financial Crisis; Economic Slowdown and Stagnation; Economic Growth; Business Cycles; Welfare; United Kingdom
- September 2014 (Revised June 2016)
- Case
Whole Foods: The Path to 1,000 Stores
By: David F. Drake, Ryan W. Buell, Melissa Barton, Taylor Jones, Katrina Keverian and Jeffrey Stock
The case examines the operations strategy of Whole Foods, one of the largest natural grocery chains in the United States. In late 2013, Whole Foods was expanding rapidly, with a publicly-stated goal of growing from 351 to 1,000 domestic stores by 2022. It was also... View Details
- August 2014 (Revised March 2015)
- Case
Molycorp: Issuing the 'Happy Meal' Securities (B)
By: Benjamin C. Esty and E. Scott Mayfield
Molycorp, the Western hemisphere's only producer of rare earth minerals, was in the middle of a $1 billion capital expansion in its effort to become a vertically integrated supplier of rare earth minerals, oxides, and metals. After reporting lower than expected... View Details
Keywords: Convertible Debt; Uncertainty; Startup; Growth; Rare Earth Minerals; Mining; Hedge Funds; Short Selling; Equity Capital; Capital Structure; Financial Strategy; Valuation; Metals and Minerals; Equity; Capital; Debt Securities; Stock Shares; Financial Management; Mining Industry; Industrial Products Industry; Canada; California
- July–August 2014
- Article
Unlock the Mysteries of Your Customer Relationships
By: Jill Avery, Susan Fournier and John Wittenbraker
Consumers have always had relationships with brands, but sophisticated tools for analyzing customer data are finally allowing marketing organizations to personalize and manage those relationships. With this new power comes a new challenge: people now expect companies... View Details
- June 2014 (Revised October 2015)
- Case
Molycorp: Financing the Production of Rare Earth Minerals (A)
By: Benjamin C. Esty and E. Scott Mayfield
Molycorp, the western hemisphere's only producer of rare earth minerals, was in the middle of a $1 billion capital expenditure project in its effort to become a vertically integrated supplier of rare earth minerals, oxides, and metals. Yet it had just reported lower... View Details
Keywords: Convertible Debt; Uncertainty; Competition; Startup; China; Supply ＆ Demand; Growth; Rare Earth Minerals; Discounted Cash Flows; Mining; Payoff Diagrams; Option Pricing; Capital Budgeting; Capital Structure; Cash Flow; Financial Strategy; Market Entry and Exit; Vertical Integration; Valuation; Metals and Minerals; Mining Industry; Industrial Products Industry; Canada; California
- April 2014 (Revised July 2015)
- Case
Sanofi Pasteur: The Dengue Vaccine Dilemma
By: V. Kasturi Rangan, David E. Bloom, Vincent Dessain and Emilie Billaud
In 2012, Sanofi Pasteur was racing to develop a vaccine against dengue, a mosquito-borne disease, and was evaluating this product in a Phase IIb trial conducted with school children in Thailand. But while the candidate vaccine met the high safety expectations and a... View Details
- April 2014
- Supplement
Managing Change at Axis Bank (B)
By: Paul Healy and Rachna Tahilyani
Axis Bank is India's third largest private sector bank. In April 2009, Shikha Sharma, an outsider was appointed as its CEO. She took over from a person who had overseen ten years of rapid growth at the bank. The selection of an outsider as the new CEO surprised many... View Details
- 2014
- Article
Expectations of Returns and Expected Returns
By: Robin Greenwood and Andrei Shleifer
We analyze time-series of investor expectations of future stock market returns from six data sources between 1963 and 2011. The six measures of expectations are highly positively correlated with each other, as well as with past stock returns and with the level of the... View Details
- 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
- March 2014
- Case
Managing Change at Axis Bank (A)
By: Paul Healy and Rachna Tahilyani
Axis Bank is India's third largest private sector bank. In April 2009, Shikha Sharma, an outsider, was appointed as its CEO. She took over from a person who had overseen ten years of rapid growth at the bank. The selection of an outsider as the new CEO surprised many... View Details
- March–April 2014
- Article
The Low-Risk Anomaly: A Decomposition into Micro and Macro Effects
By: Malcolm Baker, Brendan Bradley and Ryan Taliaferro
Low beta stocks have offered a combination of low risk and high returns. We decompose the anomaly into micro and macro components. The micro component comes from the selection of low beta stocks. The macro component comes from the selection of low beta countries or... View Details
- February 2014 (Revised March 2014)
- Case
Red Star Furniture Group Co. Ltd.
By: Krishna G. Palepu and Pedro Nueno
Founded in 1986, Red Star had become the leading department store in China for furniture and home equipment products (bathroom, lamps, textiles complements, etc.). The business model of Red Star was to provide adequate space for vendors (that rented the space) in good... View Details
- January 2014
- Case
Newfield Energy
By: William E. Fruhan and Wei Wang
In September 2013, Miles Griffin, CEO and chairman of the board of Newfield Energy, prepares to present financial proposals to the board of directors for approval. Newfield (based in Houston, Texas) was a large independent energy company primarily engaged in the... View Details
- December 2013
- Article
Legislating Stock Prices
By: Lauren Cohen, Karl Diether and Christopher Malloy
We demonstrate that legislation has a simple, yet previously undetected impact on stock prices. Exploiting the voting record of legislators whose constituents are the affected industries, we show that the votes of these "interested" legislators capture important... View Details
- 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
- October 2013
- Supplement
Alcoa's Bid for Alcan (B)
By: Paul Healy and Penelope Rossano
In spring 2007, Alcoa CEO Alain Belda was concerned about the company's market position in light of increased competition from developing markets. China's recent entry into the aluminum market was affecting both supply and demand. Furthermore, downstream and upstream... View Details
- October 2013 (Revised December 2015)
- Case
Alcoa's Bid for Alcan (A)
By: Paul Healy and Penelope Rossano
In spring 2007, Alcoa CEO Alain Belda was concerned about the company's market position in light of increased competition from developing markets. China's recent entry into the aluminum market was affecting both supply and demand. Furthermore, downstream and upstream... View Details
- October 2013 (Revised January 2014)
- Supplement
Fred Khosravi and AccessClosure (B)
By: Richard G. Hamermesh and Lauren Barley
It was January 2013, and Fred Khosravi, chairman of the board of AccessClosure Inc., wondered what the new year had in store for him and AccessClosure, the company he founded in late 2002. Khosravi was cautiously optimistic—the Mountain View, California-based medical... View Details
- October 2013
- Article
Ad Revenue and Content Commercialization: Evidence from Blogs
By: Monic Sun and Feng Zhu
Many scholars argue that when incentivized by ad revenue, content providers are more likely to tailor their content to attract "eyeballs," and as a result, popular content may be excessively supplied. We empirically test this prediction by taking advantage of the... View Details
- October 2013
- Article
Corporate Venturing
By: Josh Lerner
For decades, large companies have been wary of corporate venturing. But as R&D organizations face pressure to rein in costs and produce results, companies are investing in promising start-ups to gain knowledge and agility. The logic of corporate venturing is... View Details