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- All HBS Web
(2,245)
- People (1)
- News (393)
- Research (1,599)
- Events (4)
- Multimedia (4)
- Faculty Publications (739)
- September 2020
- Teaching Note
TransDigm in 2017: The Beginning of the End or the End of the Beginning?
By: Benjamin C. Esty and Daniel Fisher
Teaching Note for HBS Case No. 720-422. TransDigm was a highly acquisitive company that manufactured a wide range of highly engineered aerospace parts for both military and commercial customers. Over the ten years ending in 2016, its stock price had increase ten times,... View Details
Keywords: Value Capturing; Pricing Strategy; Supplier Power; Buyer Power; Porter's Five Forces; Bargaining Power; Monopoly; Aerospace; Acquisition Strategy; Value Drivers; Ethical Behavior; Regulation; Growth Strategy; Business Ethics; Defense; Procurement; Sustainability; Value-Based Business Strategy; Acquisition; Ethics; Private Equity; Financial Strategy; Growth Management; Performance Evaluation; Business Strategy; Competitive Strategy; Horizontal Integration; Value Creation; Competitive Advantage; Aerospace Industry; Air Transportation Industry; United States
- September–October 2013
- Article
The Role of Organizational Scope and Governance in Strengthening Private Monitoring
By: Lamar Pierce and Michael W. Toffel
Governments and other organizations often outsource activities to achieve cost savings from market competition. Yet such benefits are often accompanied by poor quality resulting from moral hazard, which can be particularly onerous when outsourcing the monitoring and... View Details
Keywords: Crime and Corruption; Decision Choices and Conditions; Corporate Accountability; Governance Compliance; Policy; Management Practices and Processes; Demand and Consumers; Market Design; Market Entry and Exit; Market Transactions; Service Delivery; Service Operations; Business Processes; Organizational Structure; Performance Effectiveness; Performance Expectations; Practice; Transportation; Transportation Industry; Service Industry; United States; New York (state, US)
Pierce, Lamar, and Michael W. Toffel. "The Role of Organizational Scope and Governance in Strengthening Private Monitoring." Organization Science 24, no. 5 (September–October 2013): 1558–1584. (Winner of the NBS Research Impact on Practice Award from the Academy of Management (AOM) and Network for Business Sustainability (NBS))
- 13 Nov 2006
- Working Paper Summaries
A New Framework for Analyzing and Managing Macrofinancial Risks of An Economy
- June 2011
- Article
Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act
By: Dhammika Dharmapala, C. Fritz Foley and Kristin J. Forbes
This paper analyzes the impact of the Homeland Investment Act of 2004, which provided a one-time tax holiday for the repatriation of foreign earnings and thereby reduced the cost to U.S. multinationals of accessing a source of internal capital. Lawmakers and lobbyists... View Details
Keywords: Investment; Performance Effectiveness; Code Law; Taxation; Cost; Capital; Financial Strategy; Research and Development; Governing Rules, Regulations, and Reforms; Business and Shareholder Relations; United States
Dharmapala, Dhammika, C. Fritz Foley, and Kristin J. Forbes. "Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act." Journal of Finance 66, no. 3 (June 2011): 753–787.
- September 2024
- Case
Board Director Dilemmas: The Tradeoffs of Board Selection
By: David G. Fubini, Suraj Srinivasan and Patrick Sanguineti
After retiring from a long and successful career in financial auditing, Linda McGill looked forward to the prospect of joining a board. She felt the time was right to leverage the breadth of her experience while fulfilling one of her long-term goals. Though somewhat of... View Details
Keywords: Board Decisions; Corporate Boards; Board Networks; Cost vs Benefits; Governing and Advisory Boards; Retirement
Fubini, David G., Suraj Srinivasan, and Patrick Sanguineti. "Board Director Dilemmas: The Tradeoffs of Board Selection." Harvard Business School Case 425-023, September 2024.
- 21 Aug 2015
- Blog Post
My Fear of Student Debt: Funding the HBS/HKS Joint Degree
School (HKS) individually offer generous aid to students in financial need, but Harvard has also created unique fellowship programs to offset the extra costs of their joint... View Details
- 04 Jun 2012
- Research & Ideas
The Business of Life
different in any way from running a private enterprise. That's your job, if you're building a happy family: to realize that they need to be motivated and that there's a clear way to motivate them." The Perils Of Assessing View Details
Keywords: by Carmen Nobel
- November 29, 2011
- Article
The Role of The Board in Creating a Sustainable Strategy
By: Robert G. Eccles, Ioannis Ioannou and George Serafeim
While conceptually elegant, the belief that a corporation's role is to maximize value for shareholders is under increasing challenge as society's expectations for companies change. An equally elegant new concept that takes account of these dual pressures has yet to... View Details
Keywords: Value Creation; Business and Stakeholder Relations; Corporate Strategy; Business and Shareholder Relations; Corporate Social Responsibility and Impact; Performance Expectations; Governing and Advisory Boards; Management Practices and Processes; Decisions; Risk and Uncertainty; Cost vs Benefits; Information
Eccles, Robert G., Ioannis Ioannou, and George Serafeim. "The Role of The Board in Creating a Sustainable Strategy." TrustLaw (November 29, 2011).
- 01 Sep 2017
- News
City of Dreams
time to avoid the unfolding civil conflict. Clashes between Sri Lanka’s Sinhalese majority and Tamil minority ran from 1983 to 2009, closing down areas of the country for extended periods of time and View Details
- 30 Jun 2010
- Working Paper Summaries
The Empire Struck Back: The Mexican Oil Expropriation of 1938 Reconsidered
- 01 Mar 2010
- News
Lords of Strategy
strategy revolution was a way of systematically putting together all the elements that determined their corporate fate, in particular, the three Cs central to any good strategy: the company’s costs, especially View Details
- August 2020
- Article
Leverage and the Beta Anomaly
By: Malcolm Baker, Mathias F. Hoeyer and Jeffrey Wurgler
The well-known weak empirical relationship between beta risk and the cost of equity—the beta anomaly—generates a simple tradeoff theory: As firms lever up, the overall cost of capital falls as leverage increases equity beta, but as debt becomes riskier the marginal... View Details
Baker, Malcolm, Mathias F. Hoeyer, and Jeffrey Wurgler. "Leverage and the Beta Anomaly." Journal of Financial and Quantitative Analysis 55, no. 5 (August 2020): 1491–1514.
- 2015
- Working Paper
Staggered Boards and Shareholder Value: A Reply to Amihud and Stoyanov
By: Alma Cohen and Charles C.Y. Wang
In a paper published in the Journal of Financial Economics in 2013, we provided evidence that market participants perceive staggered boards to be on average value-reducing. In a recent response paper, Amihud and Stoyanov (2015) “contest” our results. They... View Details
Keywords: Staggered Boards; Takeover Defense; Antitakeover Provision; Firm Value; Agency Costs; Delaware; Chancery Court; Airgas; Governing and Advisory Boards; Acquisition; Corporate Governance; Business and Shareholder Relations; Delaware
Cohen, Alma, and Charles C.Y. Wang. "Staggered Boards and Shareholder Value: A Reply to Amihud and Stoyanov." Harvard Business School Working Paper, No. 16-097, February 2016.
- February 1993 (Revised November 1998)
- Case
Statements of Cash Flows: Three Examples
By: William J. Bruns Jr. and Julie H. Hertenstein
This case introduces the statement of cash flow through three examples of multi-year statements of cash flows from three unidentified companies. View Details
Keywords: History; Venture Capital; Financial Management; Activity Based Costing and Management; Investment; Financial Statements; Cash Flow; Financing and Loans; Financial Services Industry; Financial Services Industry; United States
Bruns, William J., Jr., and Julie H. Hertenstein. "Statements of Cash Flows: Three Examples." Harvard Business School Case 193-103, February 1993. (Revised November 1998.)
- Program
Competing in the Age of Digital Platforms
platform businesses and markets, this program will help you maximize the value and minimize the costs of creating, managing, or engaging with digital platforms. Details Compete in the age View Details
- February 2025
- Article
Sale of Private Equity–Owned Physician Practices and Physician Turnover
By: Victoria Berquist, Lev Klarnet and Leemore Dafny
Private equity (PE) ownership of physician practices is increasing, with owners targeting sales, or exits, in 3 to 7 years. Little is known about the association of exit with physician retention and subsequent employment. Using panel data over the period 2014-2020, we... View Details
Berquist, Victoria, Lev Klarnet, and Leemore Dafny. "Sale of Private Equity–Owned Physician Practices and Physician Turnover." JAMA Health Forum 6, no. 2 (February 2025).
- 12 Jun 2018
- Research & Ideas
In a Landscape of 'Me Too' Drug Development, What Spurs Radical Innovation?
Papanikolaou, Kellogg School of Management. On balance, novel drugs with unproven chemical formulas are riskier to pursue because they are less likely to win approval from the US Food and Drug Administration. These drug candidates, which... View Details
- April 2008
- Case
Campbell and Bailyn's Boston Office: Managing the Reorganization
By: Anne Donnellon and Dun Gifford Jr
Ken Winston, the regional sales manager at a securities brokerage firm, has reorganized his generalist salespeople into Key Account Teams (KAT) to increase sales of specialized, higher-margin fixed income products. Winston is also implementing a new corporate... View Details
Keywords: Organizational Behavior; Fixed Costs; Group Dynamics; Human Resource Management; Compensation; Matrix Organization; Sales; Leading Teams; Management; Leadership; Organizational Design; Organizational Structure; Groups and Teams; Organizational Culture; Organizational Change and Adaptation; Change Management; Salesforce Management; Compensation and Benefits; Financial Services Industry; Boston
Donnellon, Anne, and Dun Gifford Jr. "Campbell and Bailyn's Boston Office: Managing the Reorganization." Harvard Business School Brief Case 082-182, April 2008.
- October 2016
- Case
The Quiet Ascension of LA Fitness
By: John R. Wells and Gabriel Ellsworth
In 2016, LA Fitness was the largest chain of non-franchised fitness clubs in North America, operating 676 clubs, serving 4.9 million members, and generating revenues of over $1.9 billion. Founded by Chinyol Yi, Louis Welch, and Paul Norris in 1984, the privately held... View Details
Keywords: LA Fitness; Health Clubs; Fitness; Gyms; Chain; Exercise; Personal Training; Retention; Bally Total Fitness; 24 Hour Fitness; Planet Fitness; Buildings and Facilities; Acquisition; Business Growth and Maturation; Business Model; For-Profit Firms; Customers; Customer Focus and Relationships; Customer Satisfaction; Demographics; Age; Gender; Income; Residency; Borrowing and Debt; Capital; Capital Structure; Cash; Cash Flow; Cost; Private Equity; Financial Condition; Financial Liquidity; Financing and Loans; Investment Return; Price; Profit; Revenue; Geographic Location; Geographic Scope; Multinational Firms and Management; Business History; Employees; Recruitment; Selection and Staffing; Human Capital; Contracts; Business or Company Management; Goals and Objectives; Growth and Development Strategy; Market Entry and Exit; Operations; Service Operations; Leasing; Private Ownership; Problems and Challenges; Sales; Salesforce Management; Situation or Environment; Opportunities; Sports; Strategy; Business Strategy; Competition; Competitive Strategy; Competitive Advantage; Corporate Strategy; Expansion; Segmentation; Information Technology; Mobile Technology; Technology Platform; Health Industry; United States; California; Los Angeles
Wells, John R., and Gabriel Ellsworth. "The Quiet Ascension of LA Fitness." Harvard Business School Case 717-424, October 2016.
- 2010
- Working Paper
When Open Architecture Beats Closed: The Entrepreneurial Use of Architectural Knowledge
This paper describes how entrepreneurial firms can use superior architectural knowledge to open up a technical system to gain strategic advantage. The strategy involves, first, identifying "bottlenecks" in the existing system, and then creating a new open architecture... View Details
Keywords: Entrepreneurship; Investment Return; Growth and Development Strategy; Product Design; Organizational Design; Competitive Advantage; Technology Industry
Baldwin, Carliss Y. "When Open Architecture Beats Closed: The Entrepreneurial Use of Architectural Knowledge." Harvard Business School Working Paper, No. 10-063, February 2010. (Revised July 2010, October 2010.)