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  • All HBS Web  (1,389)
    • News  (187)
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    • Multimedia  (2)
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  • May 2000 (Revised January 2003)
  • Case

Health Development Corporation

By: Richard S. Ruback
Health Development Corp. (HDC) owns and operates health clubs in the Greater Boston area. HDC engaged a local investment banker to explore a sale of the company. The most likely buyer views HDC's prior purchase of real estate as a negative. HDC's management is... View Details
Keywords: Cash Flow; Property; Business Exit or Shutdown; Valuation; Value; Decisions; Health Industry; Boston
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Ruback, Richard S. "Health Development Corporation." Harvard Business School Case 200-049, May 2000. (Revised January 2003.)
  • January 2008 (Revised March 2009)
  • Case

Framedia (A) Abridged

By: Li Jin, Carliss Y. Baldwin, Li Liao, Huabing Li and Jielun Zhu
Examines an acquisition in the highly competitive outdoor media advertising industry in China in late 2005. The transaction leads to eventual consolidation of the whole industry and positive stock reactions. Discusses equity consideration in the context of an M&A... View Details
Keywords: Mergers and Acquisitions; Venture Capital; Equity; Private Equity; Corporate Governance; Emerging Markets; Organizations; Consolidation; Valuation; Advertising Industry; China
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Jin, Li, Carliss Y. Baldwin, Li Liao, Huabing Li, and Jielun Zhu. "Framedia (A) Abridged." Harvard Business School Case 208-048, January 2008. (Revised March 2009.)
  • 2019
  • Article

Go-Shops Revisited

By: Guhan Subramanian and Annie Zhao
A go-shop process turns the traditional M&A deal process on its head: rather than a pre-signing market canvass followed by a post-signing “no shop” period, a go-shop deal involves a limited pre-signing market check, followed by a post-signing “go shop” process to find... View Details
Keywords: Go-shop Process; Mergers and Acquisitions; Negotiation Process; Negotiation Deal; Performance Effectiveness; Technological Innovation
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Subramanian, Guhan, and Annie Zhao. "Go-Shops Revisited." Harvard Law Review 133, no. 4 (February 2020): 1216–1279.
  • November 2010 (Revised April 2011)
  • Supplement

Magna International, Inc. (A) (CW)

By: Timothy A. Luehrman and Yuhai Xuan
Magna International, Inc., a Canadian-based automotive parts manufacturer, is considering whether and how to unwind its dual-class ownership structure. A family trust controlled by the founder owns a 0.65% economic interest in the company but has 66% of the votes via a... View Details
Keywords: Cost vs Benefits; Voting; Governance Controls; Market Transactions; Production; Ownership; Business and Shareholder Relations; Value Creation; Auto Industry; Manufacturing Industry; Canada
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Luehrman, Timothy A., and Yuhai Xuan. "Magna International, Inc. (A) (CW)." Harvard Business School Spreadsheet Supplement 211-707, November 2010. (Revised April 2011.)
  • 2018
  • Working Paper

Full Substitutability

By: John William Hatfield, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky and Alexander Westkamp
Various forms of substitutability are essential for establishing the existence of equilibria and other useful properties in diverse settings such as matching, auctions, and exchange economies with indivisible goods. We extend earlier models’ definitions of... View Details
Keywords: Substitutability; Mathematical Methods; Auctions; Market Design
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Hatfield, John William, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky, and Alexander Westkamp. "Full Substitutability." Harvard Business School Working Paper, No. 19-016.
  • October 2017
  • Case

Shift Technologies, Inc.

By: Thomas Eisenmann and Nicole Tempest Keller
In 2017, management at Shift, an online marketplace that uses a “high touch,” concierge approach to buy and sell used cars, was formulating plans for the San Francisco–based startup’s next phase of expansion. One option was to preserve Shift’s current business model... View Details
Keywords: Entrepreneurship; Market Design; Multi-Sided Platforms; Marketplace Matching; Growth and Development Strategy; Decision Choices and Conditions; Auto Industry; Retail Industry; United States
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Eisenmann, Thomas, and Nicole Tempest Keller. "Shift Technologies, Inc." Harvard Business School Case 818-002, October 2017.
  • 2014
  • Teaching Note

Zenglibao: An Internet Money Market Fund Run By Tianhong Asset Management Co., LTD. (TN)

By: F. Warren McFarlan, Yongjun Jin and Xiaohui Li
Mobile Internet has imposed an increasing impact on traditional finance. Firstly, some financial business modules can be operated via mobile Internet, and the corresponding transaction cost is greatly reduced. For example, payment by traditional bank draft is replaced... View Details
Keywords: Internet; China; Mobile Devices; Finance; Internet and the Web; Mobile and Wireless Technology; China
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McFarlan, F. Warren, Yongjun Jin, and Xiaohui Li. "Zenglibao: An Internet Money Market Fund Run By Tianhong Asset Management Co., LTD. (TN)." Tsinghua University Teaching Note, 2014.
  • 2014
  • Case

Zenglibao: An Internet Money Market Fund Run by Tianhong Asset Management Co., LTD.

By: F. Warren McFarlan, Yongjun Jin and Xiaohui Li
Mobile Internet has imposed an increasing impact on traditional finance. Firstly, some financial business modules can be operated via mobile Internet, and the corresponding transaction cost is greatly reduced. For example, payment by traditional bank draft is replaced... View Details
Keywords: Finance; Internet; China; Mobile Devices; Internet and the Web; Mobile and Wireless Technology; China
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McFarlan, F. Warren, Yongjun Jin, and Xiaohui Li. "Zenglibao: An Internet Money Market Fund Run by Tianhong Asset Management Co., LTD." Tsinghua University Case, 2014.
  • October 2008
  • Case

The Talbots, Inc., and Subsidiaries: Accounting for Goodwill

By: William J. Bruns Jr.
In 2006, Talbots, Inc., a specialty women's retailer, purchased a competitor, J. Jill. The transaction created a large goodwill account along with accounts for trademarks and other intangible assets. Using prevailing accounting standards (Statement of Financial... View Details
Keywords: FASB; Intangible Assets; Standards; Financial Statements; Goodwill Accounting; Apparel and Accessories Industry; Retail Industry
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Bruns, William J., Jr. "The Talbots, Inc., and Subsidiaries: Accounting for Goodwill." Harvard Business School Brief Case 083-254, October 2008.
  • 2010
  • Other Unpublished Work

Fashioning an Industry: Cognitive Processes and the Construction of Worth in the Institutionalization of a New Industry

By: Mukti Khaire
This inductive study of the high-end fashion industry in India explores how the worth of a new industry is constructed. Interviews with entrepreneurs and constituents of the field revealed that the worth of the industry was constructed through framing by early... View Details
Keywords: Market Design; Framework; Entrepreneurship; Value; Cognition and Thinking; Industry Structures; Fashion Industry; India
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Khaire, Mukti. "Fashioning an Industry: Cognitive Processes and the Construction of Worth in the Institutionalization of a New Industry." October 2010.
  • June 2018
  • Article

Deviations from Covered Interest Rate Parity

By: Wenxin Du, Alexander Tepper and Adrien Verdelhan
We find that deviations from the covered interest rate parity (CIP) condition imply large, persistent, and systematic arbitrage opportunities in one of the largest asset markets in the world. Contrary to the common view, these deviations for major currencies are not... View Details
Keywords: Interest Rates; Financial Markets; Banks and Banking; Price
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Du, Wenxin, Alexander Tepper, and Adrien Verdelhan. "Deviations from Covered Interest Rate Parity." Journal of Finance 73, no. 3 (June 2018): 915–957.
  • Article

Evolution of Land Distribution in West Bengal 1967–2004: Role of Land Reform and Demographic Changes

By: Pranab Bardhan, Michael Luca, Dilip Mookherjee and Francisco Pino
This paper studies how land reform and population growth affect land inequality and landlessness, focusing particularly on indirect effects owing to their influence on household divisions and land market transactions. Theoretical predictions of a model of household... View Details
Keywords: Inequality; Land Reform; Household Division; Land Markets; Equality and Inequality; Residency; Property; Household; West Bengal
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Bardhan, Pranab, Michael Luca, Dilip Mookherjee, and Francisco Pino. "Evolution of Land Distribution in West Bengal 1967–2004: Role of Land Reform and Demographic Changes." Journal of Development Economics 110 (September 2014): 171–190.
  • 2014
  • Other Unpublished Work

Evolution of Land Distribution in West Bengal 1967-2004: Role of Land Reform and Demographic Changes

By: Pranab Bardhan, Michael Luca, Dilip Mookherjee and Francisco Pino
This paper examines the indirect effect of land reform and demographic changes on land inequality operating through induced household divisions and land market transactions. We develop an intra-household model of joint production where divisions, out-migration or land... View Details
Keywords: Inequality; Land Reform; Household Division; Land Markets; Equality and Inequality; Property; Household; Change; West Bengal
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Bardhan, Pranab, Michael Luca, Dilip Mookherjee, and Francisco Pino. "Evolution of Land Distribution in West Bengal 1967-2004: Role of Land Reform and Demographic Changes." (conditionally accepted, Journal of Development Economics.)
  • May 2003 (Revised October 2003)
  • Case

BEA Systems, Inc.: Constant Reinvention to Cope with Market Waves

Developed in 1995 as a specialist software vendor, BEA Systems, Inc. had already transformed itself twice from a transaction processing product company to a server application provider. By July 2002, it had become the fastest company in history to reach $1 billion in... View Details
Keywords: Organizational Change and Adaptation; Digital Platforms; Business Growth and Maturation; Management Practices and Processes; Applications and Software; Entrepreneurship; Organizational Culture; Web Services Industry; Information Technology Industry
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Sull, Donald N., Ramiro Montealegre, and Jeannette Dale. "BEA Systems, Inc.: Constant Reinvention to Cope with Market Waves." Harvard Business School Case 803-118, May 2003. (Revised October 2003.)
  • December 2003 (Revised September 2005)
  • Case

Rein Chemical Company: Specialty Division

By: Francis Aguilar
This case describes corporate management's recent discovery of widespread unethical pricing transactions in one division and key managers' different views on how to respond. Students are asked to evaluate management's position and decide who should do what to resolve... View Details
Keywords: Customers; Price; Ethics; Business Divisions; Chemicals; Crisis Management; Chemical Industry
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Aguilar, Francis. "Rein Chemical Company: Specialty Division." Harvard Business School Case 904-046, December 2003. (Revised September 2005.)
  • March 2022
  • Case

In Data We Trust: Be Mobile Africa and Furthering Financial Inclusion Across the African Continent

By: Lauren Cohen, Grace Headinger and Pierre Marchesseault
To Cédric Jeannot, leveraging technology to promote financial inclusion was personal. After no established financial institution would accept his technology platform to lower transaction costs for free, Jeannot launched FinTech company Be Mobile Africa in May 2020.... View Details
Keywords: Finance; Fintech; Emerging Market; Fundraising; Financial Inclusion; Strategy; Expansion; Management; Entrepreneurship; Personal Finance; Corporate Social Responsibility and Impact; Growth and Development Strategy; Financial Services Industry; Banking Industry; Africa; Togo; Nigeria; Ghana
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Cohen, Lauren, Grace Headinger, and Pierre Marchesseault. "In Data We Trust: Be Mobile Africa and Furthering Financial Inclusion Across the African Continent." Harvard Business School Case 222-073, March 2022.
  • Article

The Price of Equality: Suboptimal Resource Allocations across Social Categories

By: Stephen M. Garcia, Max Bazerman, Shirli Kopelman, Avishalom Tor and Dale T. Miller
This paper explores the influence of social categories on the perceived trade-off between relatively bad but equal distribution of resources between two parties and profit maximizing, yet asymmetric, payoffs. Studies 1 and 2 show that people prefer to maximize profits... View Details
Keywords: Equality and Inequality; Resource Allocation; Societal Protocols; Profit; Decision Making; Prejudice and Bias; Market Transactions; Ethics; Power and Influence; Distribution; Organizations
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Garcia, Stephen M., Max Bazerman, Shirli Kopelman, Avishalom Tor, and Dale T. Miller. "The Price of Equality: Suboptimal Resource Allocations across Social Categories." Special Issue on Behavioral Ethics: A New Empirical Perspective on Business Ethics Research. Business Ethics Quarterly 20, no. 1 (January 2010): 75–88.
  • December 2004
  • Article

Market Valuation and Merger Waves

By: Matthew Rhodes-Kropf and S. Viswanathan
Does valuation affect mergers? Data suggest that periods of stock merger activity are correlated with high market valuations. The naïve explanation that overvalued bidders wish to use stock is incomplete because targets should not be eager to accept stock. However, we... View Details
Keywords: Mergers and Acquisitions; Valuation; Market Transactions; Value; Cash; Stocks; Corporate Social Responsibility and Impact; Bids and Bidding; Market Design; Stock Shares; Accounting Audits; Performance Evaluation
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Rhodes-Kropf, Matthew, and S. Viswanathan. "Market Valuation and Merger Waves." Journal of Finance 59, no. 6 (December 2004): 2685–2718.
  • April 2006
  • Article

Competitive Advantage and the Value Network Configuration: Making Decisions at a Swedish Life Insurance Company

By: Øystein D. Fjeldstad and Christian H.M. Ketels
When the Swedish Life Insurers Förenade Liv found themselves in difficulties in a rapidly changing market, their response was to call in the consultants. And one of the consultant's first suggestions was to use the Value Network, not the Value Chain, as a new... View Details
Keywords: Competitive Advantage; Fluctuation; Networks; Management Analysis, Tools, and Techniques; Value; Quality; Decision Making; Market Transactions; Performance Effectiveness; Customers; Insurance Industry; Sweden
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Fjeldstad, Øystein D., and Christian H.M. Ketels. "Competitive Advantage and the Value Network Configuration: Making Decisions at a Swedish Life Insurance Company." Long Range Planning 39, no. 2 (April 2006): 109–131.
  • May 2008
  • Supplement

Tribune Company, 2007 (CW)

By: Timothy A. Luehrman
This case describes the proposed acquisition of Tribune Company by Sam Zell in 2007. Tribune Company is one of the largest newspapers and broadcasting companies in the United States. Zell's proposed acquisition is unusual in several respects. It is two-tiered, employs... View Details
Keywords: Acquisition; Credit; Employee Stock Ownership Plan; Employees; Markets; Market Transactions; Negotiation Deal; Business and Shareholder Relations; Sales; Perspective; Journalism and News Industry; United States
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Luehrman, Timothy A. "Tribune Company, 2007 (CW)." Harvard Business School Spreadsheet Supplement 208-723, May 2008.
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