Publications

18 Nov 2022
HBS Case

What Does It Take to Safeguard a Legacy in Asset Management?

in a business environment awakening to equity and inclusion. One of the first Black portfolio managers, Eddie Brown, founded the eponymous firm in 1983. It was only the second Black-founded investment firm in the US. Its performance in... View Details

Keywords: by Rachel Layne; Financial Services

May 2013
Case

Bridgewater Associates

By: Jeffrey T. Polzer and Heidi K. Gardner

Bridgewater Associates was the world's largest hedge fund with approximately $120 billion in assets under management in mid-2012, and its leaders attribute its record-beating performance to the firm's culture of "radical transparency." The founder, Ray Dalio, was... View Details

Keywords: Management Style; Motivation and Incentives; Management Practices and Processes; Organizational Culture; Performance; Leadership Style; Investment; Financial Services Industry

30 Nov 2021
In Practice

What's the Role of Business in Confronting Climate Change?

The 26th annual United Nations Climate Change Conference of the Parties, also known as COP26, ended with a hard-fought pact that called on businesses and governments to meet their climate change goals faster. The event followed an August report by the Intergovernmental... View Details

Keywords: by Lynn Schenk and Dina Gerdeman

October 2006 (Revised May 2007)
Case

Academia Barilla

By: David E. Bell and Mary L. Shelman

Barilla, the world's largest pasta company, has introduced a new high-quality, high-priced product line that features a range of authentic Italian food products sourced from artisan producers. Management believes the line will appeal to consumers seeking healthier... View Details

Keywords: Supply Chain; Plant-Based Agribusiness; Brands and Branding; Decision Choices and Conditions; Family Ownership; Nutrition; Product Development; Investment; Food and Beverage Industry; Italy

27 Feb 2019
Research & Ideas

The Hidden Cost of a Product Recall

quantify the innovation risks and opportunities that recalls pose in one of the most R&D-intensive industries, medical technology. Product failures in medtech, where the cost to bring a device to the market can top $90 million, can... View Details

Keywords: by Danielle Kost; Manufacturing; Consumer Products; Auto; Medical Devices & Supplies

29 Mar 2021
News

Continuing employee development in the face of budget cuts

27 Dec 2019
News

The Rise of Fertility Startups

Retail Doesn't Cross Borders: Here's Why and What to Do about It

Most companies assume that the easiest way to grow is by investing overseas and that the developing world offers the best opportunities for boosting revenues and profits today. However, success abroad varies widely, and research shows that it's often tough to increase... View Details

December 2022 (Revised May 2023)
Case

Iberdrola: Leading the Energy Revolution

By: Juan Alcácer and Emer Moloney

At the end of 2019, Ignacio Galán, the Chairman and CEO of the world's third largest utility, Iberdrola, reflected on his almost 20 years at the company. He managed a portfolio of three very different businesses, each with their own specific opportunities and... View Details

April 2012
Case

Man Group (A)

By: Robert C. Pozen and Thomas M. Clay

The Man Group was a huge and successful UK-based hedge fund and fund of funds manager. Through acquisitions, the company had consciously diversified its portfolio of investment products. In 2007 Man had to decide whether or not to spin off its brokerage business. Man... View Details

Keywords: Asset Management; Investment Funds; Financial Crisis; Decisions; Organizational Change and Adaptation; Diversification; Business Growth and Maturation; Business Strategy; Financial Services Industry; United Kingdom; Europe

Find at Harvard

George Serafeim is the Charles M. Williams Professor of Business Administration at Harvard Business School. He co-leads a Lab, within Harvard's Digital, Data, Design Institute, and serves on the faculty steering committee of Harvard University's Salata Institute. He... View Details

Keywords: asset management; insurance industry; automobiles; industrial goods; fashion; food; green technology

06 Jan 2021
Blog Post

My HBS Student Loan Story: Gorick Ng (MBA 2018)

Business school is a valuable investment in your future. HBS supports that investment through generous need-based scholarships. In addition to scholarships, many HBS students utilize student loans to help... View Details

February 2024 (Revised February 2025)
Case

Financing Matillion's Scaleup (A)

By: Raymond Kluender, Emanuele Colonnelli and Ramana Nanda

In 2019, Matthew Scullion, founder and CEO of U.K. startup Matillion, faced a decision about which term sheet to accept for the lead investor in his company’s $35 million Series C financing round. Would the connections and opportunities offered by Silicon Valley-based... View Details

Keywords: Entrepreneurship; Negotiation; Ownership; Business Startups; Decisions; Venture Capital; Financing and Loans; Valuation; Information Technology Industry; United Kingdom

We examine how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries with... View Details

April 2012 (Revised July 2012)
Supplement

Man Group (B)

By: Robert C. Pozen and Thomas M. Clay

The Man Group was a huge and successful UK-based hedge fund and fund of funds manager. Through acquisitions, the company had consciously diversified its portfolio of investment products. In 2007 Man had to decide whether or not to spin off its brokerage business. Man... View Details

Keywords: Hedge Funds; Asset Management; Governing Rules, Regulations, and Reforms; Investment Funds; Corporate Strategy; Growth and Development Strategy; Financial Services Industry; United Kingdom

Find at Harvard

November 1999
Case

Long-Term Capital Management, L.P. (A)

By: Andre F. Perold

Long-Term Capital Management, L.P. (LTCM) was in the business of engaging in trading strategies to exploit market pricing discrepancies. Because the firm employed strategies designed to make money over long horizons--from six months to two years or more--it adopted a... View Details

Keywords: Fluctuation; Capital; Financial Liquidity; Financing and Loans; Investment Funds; Investment Portfolio; Corporate Governance; Governing Rules, Regulations, and Reforms; Management; Risk Management; Marketing; Motivation and Incentives; Financial Services Industry

16 Oct 2019
News

Where ESG Fails

February 1992 (Revised September 1995)
Case

Goldman, Sachs & Co.: Nikkei Put Warrants--1989

By: Peter Tufano

Japanese financial institutions' willingness to sell put options on the Nikkei Stock Average provides investment banks with the raw material from which to create a security that would allow U.S. investors to bet on falls in the Japanese Stock Market. The investment... View Details

Keywords: Debt Securities; Investment Banking; Product Design; Globalized Markets and Industries; Japan; United States