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Show Results For
- All HBS Web
(2,207)
- People (4)
- News (339)
- Research (1,601)
- Events (1)
- Multimedia (8)
- Faculty Publications (1,281)
- December 2007
- Article
Applying Modern Risk Management to Equity and Credit Analysis
By: Robert C. Merton
Traditional conventions of accounting and actuarial science distort the valuation of capital risk in corporations with pension plans because under these conventions, pension assets and liabilities are not included in balance sheet calculations. The modern risk... View Details
Keywords: Risk Management; Valuation; Financial Reporting; Decision Making; Credit; Financial Statements; Capital; Equity; Compensation and Benefits
Merton, Robert C. "Applying Modern Risk Management to Equity and Credit Analysis." CFA Institute Conference Proceedings Quarterly 24 (December 2007): 14–22.
- March 2016
- Case
Preparing a Concession Bid at TAV Airports Holding
By: C. Fritz Foley and Çiğdem Çelik
In 2013, TAV Airports Holding prepared a bid for the concession to build and operate the third Istanbul airport. This process involved input from various parts of the firm with operating and financial expertise. Burcu Geriş, the CFO of TAV Airports Holding, and her... View Details
Keywords: Project Finance; Infrastructure Development; Equity Cash Flows; Capital Budgeting; Valuation; Financial Management; Financing and Loans; Turkey
Foley, C. Fritz, and Çiğdem Çelik. "Preparing a Concession Bid at TAV Airports Holding." Harvard Business School Case 216-054, March 2016.
- January 2009
- Background Note
Financial Networks and Informal Banking in China: From Pawnshops to Private Equity
By: Elisabeth Koll
Provides an analysis of why informal financial networks and institutions still play an extremely important role in China's economy in the 21st century. Although China has emerged as one of the fastest growing economies in the world, it still suffers from a weak... View Details
Keywords: Entrepreneurship; Private Equity; Banks and Banking; Financing and Loans; Governing Rules, Regulations, and Reforms; State Ownership; Business and Government Relations; Networks; China
Koll, Elisabeth. "Financial Networks and Informal Banking in China: From Pawnshops to Private Equity." Harvard Business School Background Note 809-111, January 2009.
- 27 Oct 2021
- Blog Post
HBS Impact Investing Fund Course: An Experiential Education in Social Financing
This fall, Harvard Business School launched its first Impact Investment Fund Course after a successful pilot in the Spring of 2021. The fund expands access to affordable, flexible financing for Black, Brown, and Immigrant-owned businesses... View Details
- 05 Apr 2016
- News
Benetton Heir Alessandro Goes It Alone With Private Equity Firm
- May 2008
- Article
Go-Shops vs. No-Shops in Private Equity Deals: Evidence and Implications
Keywords: Equity
Subramanian, Guhan. "Go-Shops vs. No-Shops in Private Equity Deals: Evidence and Implications." Business Lawyer 63, no. 3 (May 2008): 729–760. (Selected by academics as one of the “top ten” articles in corporate/securities law for 2008, out of 480 articles published in that year.)
- 20 Oct 2014
- News
Private Equity Titans Open Cloistered World to Smaller Investors
- Web
In The Classroom - Behavioral Finance & Financial Stability
Carmen Reinhart HKS ITF-270 The Financial System and the Central Bank By: Jeremy C. Stein Harvard University Econ 1759 Behavioral Finance By: Jeremy C. Stein & Andrei Shleifer Harvard University Econ 2728, PhD Corporate View Details
- September 2011 (Revised January 2012)
- Case
Silver Lake and Private Equity in Brazil: Carnaval or Calamity?
By: Aldo Musacchio and Stephen J. Goldstein
Musacchio, Aldo, and Stephen J. Goldstein. "Silver Lake and Private Equity in Brazil: Carnaval or Calamity?" Harvard Business School Case 712-004, September 2011. (Revised January 2012.)
- September 2016 (Revised April 2018)
- Case
Western Technology Investment
By: Ramana Nanda, William A. Sahlman and Nicole Keller
Based in Portola Valley, California, Western Technology Investment (WTI) specialized in a hybrid form of debt and equity financing for early-stage companies. Like traditional venture capital and private equity firms, WTI raised funds from institutional investors and... View Details
Keywords: Entrepreneurial Finance; Equity; Finance; Venture Capital; Entrepreneurship; Financing and Loans; California
Nanda, Ramana, William A. Sahlman, and Nicole Keller. "Western Technology Investment." Harvard Business School Case 817-019, September 2016. (Revised April 2018.)
- September 2012
- Supplement
United Capital Partners (B)
By: Paul A. Gompers, J. Daniel Kim and Vladimir Mukharlyamov
This case continues the discussion started in the (A) case about a proposed growth equity investor in a Russian fashion retail chain. View Details
- 2009
- Working Paper
The Impact of Private Equity Ownership on Portfolio Firms' Corporate Tax Planning
By: Brad Badertscher, Sharon P. Katz and Sonja Olhoft Rego
This study investigates whether private equity (PE) firms influence the tax practices of their portfolio firms. Prior research documents that PE firms create economic value in portfolio firms through effective governance, financial, and operational engineering. Given... View Details
Keywords: Private Equity; Investment Portfolio; Corporate Governance; Taxation; Ownership Stake; Value Creation
Badertscher, Brad, Sharon P. Katz, and Sonja Olhoft Rego. "The Impact of Private Equity Ownership on Portfolio Firms' Corporate Tax Planning." Harvard Business School Working Paper, No. 10-004, July 2009. (Revised March 2010.)
- Fall 2021
- Article
When to Go and How to Go? Founder and Leader Transitions in Private Equity Firms
By: Josh Lerner and Diana Noble
Leadership transition in private equity firms is an understudied field, despite the important, albeit controversial, role such firms play in developed economies. We analyzed 260 firms in an empirical study, supplemented by qualitative interviews with a small sample of... View Details
Lerner, Josh, and Diana Noble. "When to Go and How to Go? Founder and Leader Transitions in Private Equity Firms." Journal of Alternative Investments 24, no. 2 (Fall 2021): 9–30.
- February 2019 (Revised March 2019)
- Case
Banorte and the Capital Call Facility: Infrastructure Finance in Mexico
By: John D. Macomber, Carla Larangeira and Fernanda Miguel
As a result of Mexico´s pension industry deregulation, pension funds were able to invest in energy and infrastructure projects through a variety of financial instruments, particularly through Capital Development Certificates (CKDs), an asset class that served as a... View Details
Keywords: Financial Products; Fund Management; Capital Call Facility; Pension Funds; Infrastructure; Energy; Finance; Decision Making; Investment Funds; Financial Instruments; North America; Mexico
Macomber, John D., Carla Larangeira, and Fernanda Miguel. "Banorte and the Capital Call Facility: Infrastructure Finance in Mexico." Harvard Business School Case 219-049, February 2019. (Revised March 2019.)
- March 1982
- Article
The Effect of Discretionary Price Control Decisions on Equity Values
By: R. S. Ruback
Ruback, R. S. "The Effect of Discretionary Price Control Decisions on Equity Values." Journal of Financial Economics 10, no. 1 (March 1982): 83–105.
- September 2011
- Article
Information Risk and Fair Value: An Examination of Equity Betas
By: Edward J. Riedl and George Serafeim
Using a sample of U.S. financial institutions, we exploit recent mandatory disclosures of financial instruments designated as fair value level 1, 2, and 3 to test whether greater information risk in financial instrument fair values leads to higher cost of capital. We... View Details
Keywords: Forecasting and Prediction; Assets; Cost of Capital; Financial Institutions; Financial Instruments; Corporate Disclosure; Information; Risk and Uncertainty; Value; United States
Riedl, Edward J., and George Serafeim. "Information Risk and Fair Value: An Examination of Equity Betas." Journal of Accounting Research 49, no. 4 (September 2011): 1083–1122.
- 2017
- Working Paper
The Benefits of Selective Disclosure: Evidence from Private Firms
By: Joan Farre-Mensa
Private firms’ ability to communicate confidentially with selected investors implies that valuation disagreements between firms and investors are larger at public firms than at private ones. Consistent with the notion that misvaluation concerns lead public firms to... View Details
Keywords: Finance; Equity; Private Companies; Corporate Cash; Precautionary Motives; Share Issuance; IPOs; Selective Disclosure; Private Ownership; Cash; Market Timing; Corporate Finance; Public Ownership; Corporate Disclosure; United States
Farre-Mensa, Joan. "The Benefits of Selective Disclosure: Evidence from Private Firms." Harvard Business School Working Paper, No. 14-095, April 2014. (Revised March 2017.)
- 28 Aug 2009
- Working Paper Summaries
The Impact of Private Equity Ownership on Portfolio Firms’ Corporate Tax Planning
- Article
Home Bias at Home: Local Equity Preference in Domestic Portfolios
By: Joshua D. Coval and Tobias J. Moskowitz
Coval, Joshua D., and Tobias J. Moskowitz. "Home Bias at Home: Local Equity Preference in Domestic Portfolios." Journal of Finance 54, no. 6 (December 1999). (Winner of Smith Breeden Prize. Best Paper For the best finance research paper published in the Journal of Finance presented by Smith Breeden Associates, Inc.)
- May 2018 (Revised January 2019)
- Teaching Note
Lind Equipment
By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld
Teaching Note for HBS No. 212-012. Lind Equipment, a Canadian manufacturer and distributor of industrial electrical safety equipment, was purchased in December 2007 by Brian Astl (HBS 2006) and Sean Van Doorselaer. Lind’s performance was negatively impacted by the... View Details