Publications

Web

Connect with Clubs - Recruiting

Hire Talent Connect with Clubs Hire Talent Connect with Clubs Partner with a HBS Student Club Reach targeted groups of students by connecting with over 50 career-related student clubs. Work with club leaders to sponsor events, advertise... View Details

May 2001
Article

The Open Source Movement: Key Research Questions

By: Josh Lerner and Jean Tirole

The paper analyzes the incentives of individual programmers and of commercial companies to participate in open source projects. While these incentives are in our opinion well accounted for by the economic paradigm, much empirical and theoretical work is still needed to... View Details

Keywords: Motivation and Incentives; Open Source Distribution

October 1992 (Revised November 1997)
Case

ImmuLogic Pharmaceutical Corporation (A): March 1991

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

Keywords: Decisions; Entrepreneurship; Venture Capital; Banks and Banking; Initial Public Offering; Going Public; Perspective; Valuation; Biotechnology Industry; Pharmaceutical Industry

29 Jul 2017
News

Fund managers challenged to confront lack of ethnic diversity

January 1995
Background Note

A Note on Distribution of Venture Investments

Venture capitalists typically exit investments by distributing shares to investors. These transfers pose challenges for these investors. Predictions and evidence about the behavior of stock prices of firms around the time of these distributions are presented. View Details

Keywords: Forecasting and Prediction; Venture Capital; Stocks; Investment; Price

May 2009
Article

The Empirical Impact of Intellectual Property Rights on Innovation: Puzzles and Clues

Economists have long seen the patent system as a crucial lever through which policymakers affect the speed and nature of innovation in the economy. It is not surprising, then, that the profound changes which have roiled the global patent system over the past 20 years... View Details

Keywords: Economy; Policy; Innovation and Invention; Intellectual Property; Rights; Business and Government Relations

Web

Finance - Faculty & Research

Velayudhan. "Fiscal Externalities of Transaction Taxes: Evidence from the Los Angeles Mansion Tax." SSRN Working Paper Series, No. 5273034, June 2025. More Publications Faculty Josh Lerner Paul A. Gompers... View Details

Web

Strategy Curriculum - Faculty & Research

and how to sustain competitive advantage. How to generate superior value for customers by designing the optimum configuration of the product mix and functional activities. How to balance the opportunities and risks associated with dynamic... View Details

February 2006 (Revised January 2007)
Case

ABRY Partners, LLC: WideOpenWest

By: Josh Lerner and Smart Darren

ABRY, a Boston-based private equity group, is considering whether to terminate its investment in WideOpenWest or to try to salvage the transaction by acquiring a division of telecommunications unit Ameritech. View Details

Keywords: Private Equity; Investment Portfolio; Problems and Challenges; Financial Services Industry; Media and Broadcasting Industry; Boston

Web

2023 Reunion Presentations - Alumni

key to their success allows us to understand what legacy brands should be doing differently. Participants left the session with an understanding of the challenges facing legacy brands and what to do about it. The Venture Capital "Big Bang" and Its Aftermath: Death Star... View Details

December 1992 (Revised September 1996)
Case

ImmuLogic Pharmaceutical Corporation (Abridged)

ImmuLogic Pharmaceutical Corp., a development-stage biotechnology company, is considering making an initial offering of common stock. The rationales for and problems of high-technology start-ups are explored. The challenges posed by "windows" for public offerings are... View Details

Keywords: Decisions; Initial Public Offering; Entrepreneurship; Going Public; Business Startups; Biotechnology Industry; Pharmaceutical Industry; United States

2009
Working Paper

Private Equity and Industry Performance

The growth of the private equity industry has spurred concerns about its potential impact on the economy more generally. This analysis looks across nations and industries to assess the impact of private equity on industry performance. Industries where PE funds have... View Details

Keywords: Private Equity; Investment; Common Law; Industry Growth; Performance Productivity; Europe; United Kingdom; United States

Web

Student Research - Doctoral

Rembrand M. Koning Entrepreneurial Management 1 results Karim R. Lakhani Technology and Operations Management 2 results Jacqueline Ng Lane Technology and Operations Management 2 results Josh Lerner... View Details

10 Sep 2013
News

How Corporate Venture Capital Helps Firms Explore New Territory

January 1995 (Revised November 1995)
Case

Candela Laser vs. Cynosure, Inc.

By: Josh Lerner and Benjamin Conway

Summarizes the lawsuit by Candela Laser against its former CEO and founder, who has begun a competing firm. The extent of patent and trade secret protection are crucial issues. View Details

Keywords: Information Technology; Patents; Lawsuits and Litigation; Entrepreneurship

January 2017 (Revised March 2017)
Case

SIN Capital and the Fullerton Health IPO

By: Josh Lerner and Ann Leamon

In early 2016, David Sin, founder of the Singapore-based private equity group SIN Capital and chairman of its primary holding, Fullerton Health, was deeply involved in preparations for taking Fullerton public on the Singapore stock exchange. Three years after SIN... View Details

Keywords: Healthcare; Asia; IPO; Financing; Singapore; Growth; Health Care and Treatment; Private Equity; Initial Public Offering; Financing and Loans; Strategy; Value Creation; Growth and Development Strategy; Health Industry; Singapore

September 1995 (Revised May 1998)
Case

RogersCasey Alternative Investments: Innovative Response to the Distribution Challenge

RogersCasey Alternative Investments faces the challenge of managing distributions of stock by the private equity investors in which their clients have invested. These distributed shares appear to behave in complex ways, apparently at odds with market efficiency. A... View Details

Keywords: Private Equity; Stocks; Financial Strategy; Investment; Innovation Strategy; Management; Distribution; Performance; Behavior