Publications
Publications
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(2,735)
- Faculty Publications (319)
- 1999
- Other Unpublished Work
Executive Ownership and Control in Newly Public Firms: The Role of Venture Capitalists
By: Malcolm Baker and Paul Gompers
We study the implications of CEO equity ownership for incentives and control in a sample of 1,011 newly public firms. Before an initial public offering, equity investments by venture capitalists reduce CEO ownership by about half, from an average of 35 percent to 19... View Details
- October 1999 (Revised January 2000)
- Case
W. R. Hambrecht & Co: OpenIPO
By: Andre F. Perold and Gunjan D. Bhow
OpenIPO is a new mechanism for pricing and distributing initial public offerings. The system, which is based on a Dutch auction, represents an attempt by the investment bank W.R. Hambrecht + Co. to change the manner in which IPOs are underwritten. The case provides a... View Details
- January 1999 (Revised March 2004)
- Case
AMB Consolidation, The
By: William J. Poorvu and Daniel J. Rudd
Anne Shea, assistant vice president at the Curators' Fund (The Fund), is responsible for investing roughly $80 million in real-estate assets. Less than three years ago, Anne invested $40 million into a commingled fund run by AMB Institutional Realty Advisors, Inc., a... View Details
- January 1999 (Revised August 1999)
- Case
Asia Property Limited
By: William J. Poorvu and Daniel J. Rudd
On October 23, 1998, Bud Lake leafed through his files on property markets in Asia. Lake was responsible for real-estate investments at an aggressive and eclectic investment fund with total assets of $1.5 billion--up from $400 million at its start in 1994. As the fund... View Details
- October 1998 (Revised May 2001)
- Case
Preview Travel (A)
By: William A. Sahlman, Nicole Tempest, Daniel H Case III and Robert Keller
Preview Travel was a leader in the online travel industry, having generated $80 million in bookings in 1997 and growing at a 34% compound annual growth rate per quarter. This case describes the evolution of Preview Travel's business plan and financing strategy and... View Details
- October 1998 (Revised September 1999)
- Case
Brazil Confronts an Interdependent World
By: George C. Lodge and Cate Reavis
Discusses the politics of change and how Brazilian President Fernando Henrique Cardoso, elected in 1994, has fought to promote systemic change in Brazil. While his Real Plan has stabilized inflation and attracted foreign investment, the nation's deficit continues to... View Details
- September 1998 (Revised July 1999)
- Case
Integral Capital Partners
By: Andre F. Perold and Markus Mullarkey
Integral Capital Partners is a small firm with a very distinctive approach to investing in high-technology stocks. The firm invests privately in small start-ups as well as in publicly traded companies, and it develops important financial and advisory relationships with... View Details
- August 1998
- Case
HIMSCORP, Inc.
By: William A. Sahlman, Michael J. Roberts and Laurence E. Katz
Himscorp is an industry consolidation of records storage companies providing management and retrieval services of active medical records to healthcare institutions. Kent Dauten, a former general partner at Madison Dearborn Partners with 15 years of venture capital and... View Details
- May 1998 (Revised February 1999)
- Case
Diamond in the Rough (A)
By: Thomas J. DeLong and Catherine M. Conneely
Diamond Technology Partners, a consulting firm based in Chicago, was founded in 1994 by Mel Bergstein and Chris Moffitt, with investment from founding partners and Safeguard Scientifics. In April 1996, just after fiscal year-end, the two largest clients withdrew from... View Details
- October 1997 (Revised April 1998)
- Case
C-Car
By: V. Kasturi Rangan and Marie Bell
C-Car was the first automobile retailer in the United States to go public. Subsequently the owner, Mr. Gilliland, must decide how to invest the capital raised from the public ownership. This case describes in detail C-Car's highly profitable strategy of managing its... View Details
- September 1997 (Revised October 1997)
- Case
French Pension System, The: On the Verge of Retirement?
By: David A. Moss, Anne Dias and Bertrand O. Stephann
Surveys the French pension system, its particular institutional characteristics, and some of the critical challenges and opportunities facing French reformers. Like almost every other industrialized country, France has a large pay-as-you-go public pension system that... View Details
- Article
U.S. Multinationals in British Manufacturing before 1962
By: G. Jones and Frances Bostock
This article presents a new database on U.S. multinationals active in British manufacturing between 1907 and 1962. Britain was the largest European host economy for U.S. direct investment in manufacturing and the second largest host worldwide. This article identifies... View Details
- October 1995 (Revised June 1996)
- Case
ABN-AMRO Holding N.V. and Smit Transformatoren N.V. (A)
By: Peter Tufano
ABN-AMRO, the largest bank in the Netherlands, must decide whether to take any action in regard to the poor performance of Smit Transformatoren, a Dutch transformer manufacturer. ABN-AMRO acted as lead underwriter for the IPO of Smit, and also released a favorable... View Details
- October 1995 (Revised July 1996)
- Case
Aspen Technology, Inc.: Currency Hedging Review
By: Peter Tufano
The chief financial officer of a rapidly growing U.S.-based software firm that sells its process-control software to industrial users around the globe must review the goals, strategies, and policies of the firm's currency hedging program. This review is prompted by... View Details
- March 1994 (Revised December 1995)
- Case
McArthur/Glen Realty Corp.
By: William J. Poorvu and John H. Vogel Jr.
Jonathan Potter is considering an investment in the newly formed McArthur/Glen Real Estate Investment Trust. The case gives some background on real estate investment trusts and their history. Also discusses manufacturers' outlet shopping centers, the type of real... View Details
- Article
The Collapse of First Executive Corporation: Junk Bonds, Adverse Publicity, and the Run on the Bank Phenomenon
By: S. C. Gilson, H. DeAngelo and L. DeAngelo
In April 1991, regulators seized the major subsidiaries of First Executive Corporation (FE), an insurer that invested heavily in junk bonds. During the junk bond market turmoil of 1989–1990, adverse publicity fueled a bank run at FE, forcing a $4 billion portfolio... View Details
- October 1992 (Revised November 1997)
- Case
ImmuLogic Pharmaceutical Corporation (A): March 1991
By: Josh Lerner
ImmuLogic Pharmaceutical Corp., a development-stage biotechnology company, is considering making an initial offering of common stock. The diverse perspectives of the entrepreneur, venture capitalist, investment banker, and institutional investor are explored. Problems... View Details
- September 1992 (Revised March 1993)
- Case
Empresas ICA and the Mexican Road Privatization Program
By: Willis M. Emmons III and Monica Brand
Mexico's largest construction company, Empresas ICA, makes an initial public offering to international equity investors in April 1992 to help fund its participation in an ambitious new private-sector approach to highway development. Under the new program, launched by... View Details
- July 1991 (Revised August 1991)
- Case
Philip Morris Companies, Inc. (A)
This large tobacco and diversified food processor is seeking to refinance debt funds raised to accomplish a large acquisition. It has filed a large "shelf" registration that authorizes it to issue during the subsequent two years. At the time of the case, the market... View Details
- July 1991 (Revised August 1991)
- Case
Philip Morris Companies, Inc. (B)
Looks at the company's plans for a new debt offering under the Rule 415 shelf underwriting provision--in this instance from the vantage point of the lead investment banker for the deal. The decision-maker must assess the risks of the issuer, the tone of the market, the... View Details