Publications

August 2008
Teaching Note

Tad O'Malley: The Investment Conundrum (TN)

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Teaching Note for [808125]. View Details

Keywords: Investment; Opportunities; Leveraged Buyouts; Personal Development and Career; Resource Allocation

01 Oct 2001
News

David B. Price, Jr.: Aiming High

everything from electronics and sporting goods to food and drugs. Recently, with Goodrich focusing increasingly on the aerospace industry, Price oversaw the leveraged buyout of his division and bid farewell... View Details

Keywords: Margie Kelley; Management of Companies and Enterprises; Management

Profile

Daniel Sheyner

industry, "Private Equity Industry & Interview Guide"—offering everything from sample leveraged buyout modeling tests to typical recruiter questions—was released this summer. (Penned as part of... View Details

Keywords: Venture Capital / Private Equity; Financial Services; Investment Management / Hedge Fund

18 Feb 2015
First Look

First Look: February 18

Taxation Without Information: Deterrence and Self-Enforcement in the Value Added Tax By: Pomeranz, Dina Abstract—Claims that the VAT facilitates tax enforcement by generating paper trails on transactions between firms contributed to... View Details

Keywords: Sean Silverthorne

April 2002
Case

Knoll Furniture: Going Public

By: Paul A. Gompers and Jon Asher Daniels

This case examines the decisions of John Lynch, president and CEO of Knoll Furniture, to go public in early 1997. Knoll went private in an LBO in 1996 and Warburg Pincus, the LBO sponsor, wants Lynch to take Knoll public. Lynch needs to weigh the positive and negative... View Details

Keywords: Leveraged Buyouts; Decisions; Initial Public Offering; Going Public; Privatization

2009
Simulation

Finance Simulation: Blackstone/Celanese: No. 3712.

By: Nabil N. El-Hage and Timothy A. Luehrman

The Finance Simulation: Blackstone/Celanese is based on the landmark acquisition of Celanese AG by the Blackstone Group in 2003. Students play the role of either Celanese or Blackstone and conduct due diligence, establish deal terms, respond to bids and counter-bids,... View Details

Keywords: Bids and Bidding; Finance; Mergers and Acquisitions; Valuation; Leveraged Buyouts; Negotiation

01 Jan 2002
News

Orin C. Smith (MBA '67)

$3.2 billion. At the helm throughout this dizzying period of expansion have been Howard Schultz, who led a buyout of the original company in 1987, and his longtime colleague Orin Smith, a soft-spoken native of Washington State. "I don't... View Details

18 Jul 2006
First Look

First Look: July 18, 2006

than $100 million. These transactions are large enough to require the help of a financial adviser and attract both strategic and financial bidders. The sale process described is that of a private auction, including a confidential... View Details

Keywords: Sean Silverthorne

Fast Answer

Mergers & Acquisitions: deal type

How can I find deals of specific types, such as spinoffs or LBOs? Capital IQ Select Screening and click Transactions In section, General Transaction Details (on the right) select features. Select from the available types,... View Details

2008
Working Paper

I Am Not on the Market, I Am Here with Friends: Using On-Line Social Networks to Find a Job or a Spouse

By: Mikolaj Jan Piskorski

Sociologists have extensively documented that networks influence market exchange through improved matching and vouching. In this paper, I propose that networks can also blunt the signal of market participation, as actors who are on the market surrounded by their... View Details

Keywords: Job Search; Knowledge Use and Leverage; Market Participation; Market Transactions; Social and Collaborative Networks; Online Technology

2011
Other Unpublished Work

Networks as Covers: Evidence from On-Line Social Networks

By: Mikolaj Jan Piskorski

Sociologists have extensively documented that networks influence market exchange through improved matching and vouching. In this paper, I propose that networks can also blunt the signal of market participation, as actors who are on the market surrounded by their... View Details

Keywords: Job Search; Knowledge Use and Leverage; Market Participation; Market Transactions; Social and Collaborative Networks; Online Technology

Read Now

18 Sep 2007
First Look

First Look: September 18, 2007

Equity. It provides an opportunity to discuss a variety of issues related to leveraged buyouts including the process, the role of private equity, the incentives of the participants, the benefits to... View Details

Keywords: Martha Lagace

01 Sep 2014
News

Ask the Expert: Byte-Testing Bitcoin

transactions, but if the merchant’s goal is to leverage Bitcoin to reduce transaction fees, then they can get in and out of Bitcoin within a very short period of time, shielding them from the extreme... View Details

Keywords: alumni; Data Processing, Hosting, and Related Services; Information

2009
Simulation

Finance Simulation: Blackstone/Celanese (Facilitator's Guide)

By: Nabil N. El-Hage, Timothy A. Luehrman and Heide Diener Abelli

Keywords: Bids and Bidding; Finance; Mergers and Acquisitions; Valuation; Leveraged Buyouts; Negotiation

October 1991 (Revised November 1996)
Case

Gordon Cain and the Sterling Group (A)

By: Michael C. Jensen

A Houston-based LBO firm makes two petrochemical acquisitions that benefit from improved industry conditions and improved organizational performance. The LBOs generate huge increases in value, creating problems for managers, who have large, undiversified equity... View Details

Keywords: Organizational Change and Adaptation; Value Creation; Business Exit or Shutdown; Leveraged Buyouts; Chemical Industry; Houston

14 Jun 2004
Research & Ideas

The Big Money for Big Projects

capital structure, board of directors, compensation schemes, etc.—which may or may not be appropriate for any particular asset, the firm can create an entirely different governance system that is ideally suited for the asset in question. Much the same way View Details

Keywords: by Ann Cullen; Financial Services

June 1996
Case

Pathfinder Capital

By: William A. Sahlman and Andrew S. Janower

Two former consultants have raised a search fund and are looking for a company to buy and run. After eight months of looking at deals, they have just signed a letter of intent to buy the second largest book retail chain in Canada in a turnaround situation. They must... View Details

Keywords: Entrepreneurship; Business Startups; Leveraged Buyouts; Financing and Loans; Venture Capital; Change; Decisions