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Show Results For
- All HBS Web
(1,033)
- People (1)
- News (135)
- Research (775)
- Multimedia (3)
- Faculty Publications (491)
- January 2020 (Revised April 2020)
- Case
Rumo: Infrastructure for a Healthier Economy
By: Forest L. Reinhardt, Mariana Cal, Ruth Costas and Natalie Kindred
Brazilian logistics company Rumo operated 13,500 km in railway networks, port terminals, and inland transshipment terminals, connecting major Brazilian ports to the agriculture hubs of Mato Grosso and São Paulo state. Controlled by Cosan, Brazil's leading sugar and... View Details
Keywords: Agribusiness; Plant-Based Agribusiness; Customer Relationship Management; Growth and Development Strategy; Logistics; Rail Transportation; Value Creation; Rail Industry; Transportation Industry; Agriculture and Agribusiness Industry; Latin America; Brazil
Reinhardt, Forest L., Mariana Cal, Ruth Costas, and Natalie Kindred. "Rumo: Infrastructure for a Healthier Economy." Harvard Business School Case 720-008, January 2020. (Revised April 2020.)
- November 2010 (Revised May 2014)
- Case
Dow's Bid for Rohm and Haas
By: Benjamin C. Esty and David Lane
This case analyzes Dow Chemical Company's proposed acquisition of Rohm and Haas in 2008. The $18.8 billion acquisition was part of Dow's strategic transformation from a slow-growth, low-margin, and cyclical producer of basic chemicals into a higher-growth,... View Details
Keywords: Mergers and Acquisitions; Financial Crisis; Capital Structure; Financial Condition; Financial Management; Contracts; Lawsuits and Litigation; Risk and Uncertainty; Valuation; Chemical Industry
Esty, Benjamin C., and David Lane. "Dow's Bid for Rohm and Haas." Harvard Business School Case 211-020, November 2010. (Revised May 2014.)
- 28 Apr 2014
- Working Paper Summaries
Payout Policy
- June 2021
- Article
Short-Termism, Shareholder Payouts, and Investment in the EU
By: Jesse M. Fried and Charles C.Y. Wang
Investor-driven "short-termism" is said to harm EU public firms' ability to invest for the long term, prompting calls for the EU to better insulate managers from shareholder pressure. But the evidence offered—rising levels of repurchases and dividends—is incomplete and... View Details
Keywords: Short-termism; EU; Payout Policy; Innovation; Investment; Corporate Governance; Investment Return; Acquisition; European Union
Fried, Jesse M., and Charles C.Y. Wang. "Short-Termism, Shareholder Payouts, and Investment in the EU." European Financial Management 27, no. 3 (June 2021): 389–413.
- March 1986 (Revised July 1986)
- Case
Applications for Financial Futures
Consists of a series of four brief descriptions of the use of financial futures as hedging vehicles: a savings and loan hedging the rollover of three-month money market certificates with T-bill futures, a corporate debt issuer hedging the cost of a future debt issue... View Details
Keywords: Financial Instruments
Mason, Scott P. "Applications for Financial Futures." Harvard Business School Case 286-109, March 1986. (Revised July 1986.)
- January 2005 (Revised March 2008)
- Case
Kohler Co. (A)
Kohler Co., best known for its plumbing fixtures, is a large, private family firm. As part of a recapitalization aimed at preserving family ownership of Kohler Co., nonfamily shareholders, who held 4% of common stock, were required to sell their shares to the company.... View Details
Keywords: Family Business; Capital Structure; Cash Flow; Stocks; Price; Family Ownership; Business and Shareholder Relations; Valuation
Villalonga, Belen, and Raphael Amit. "Kohler Co. (A)." Harvard Business School Case 205-034, January 2005. (Revised March 2008.)
- May 2021
- Case
André Hoffmann: Beyond Philanthropy
By: Lauren Cohen, Hao Gao, Jiawei Ye and Spencer C.N. Hagist
André Hoffmann is a leader of one of the world's largest pharmaceutical companies. His exceptional tenure in philanthropy over the past several decades, including being president of the WWF and the vice-president of the MAVA Foundation, has allowed him access to a far... View Details
Keywords: Strategy; Philanthropy and Charitable Giving; Restructuring; Social Entrepreneurship; Values and Beliefs; Corporate Social Responsibility and Impact; Environmental Sustainability; Cash Flow; Macroeconomics; Ethics; Business and Stakeholder Relations; Switzerland; United States; Japan
Cohen, Lauren, Hao Gao, Jiawei Ye, and Spencer C.N. Hagist. "André Hoffmann: Beyond Philanthropy." Harvard Business School Case 221-093, May 2021.
- May 2009 (Revised August 2013)
- Case
The DiagnoFirst Opportunity
By: Robert C. Pozen and Rukmini Balu
John Mason, a principle at Oldwell Partners, was facing a decision of whether or not to invest in DiagnoFirst, a molecular diagnostics firm. DiagnoFirst's key product was a genetic test that identified a subset of prostate cancer patients with a high risk of clinical... View Details
Keywords: Genetic Engineering; Genetically Modified; Genomics; Venture Capital; Patents; Genetics; Decision Choices and Conditions; Laws and Statutes; Investment; Science-Based Business; Biotechnology Industry
Pozen, Robert C., and Rukmini Balu. "The DiagnoFirst Opportunity." Harvard Business School Case 309-112, May 2009. (Revised August 2013.)
- May 2001 (Revised January 2003)
- Case
Calpine Corporation: The Evolution from Project to Corporate Finance
By: Benjamin C. Esty and Michael Kane
In early 1999, Calpine Corp.'s CEO Pete Cartwright adopted an aggressive growth strategy with the goal of increasing the company's aggregate generating capacity from approximately 3,000 to 15,000 megawatts (MW) by 2004. He believed there was a fleeting opportunity to... View Details
Keywords: Information Technology; Cost of Capital; Project Finance; Adaptation; Profit; Financial Strategy; Corporate Finance; Energy Industry; United States
Esty, Benjamin C., and Michael Kane. "Calpine Corporation: The Evolution from Project to Corporate Finance." Harvard Business School Case 201-098, May 2001. (Revised January 2003.)
- March 2008 (Revised February 2009)
- Case
Transparent Value LLC
By: Sharon P. Katz, Krishna G. Palepu and Aldo Sesia, Jr.
Leading index company Dow Jones recently signed a license and joint marketing agreement with Transparent Value LLC, the creator of a new fundamentals-based valuation methodology. The agreement allowed Dow Jones to offer a family of indexes based on the Transparent... View Details
Keywords: Asset Management; Stocks; Price; Performance Expectations; Mathematical Methods; Valuation
Katz, Sharon P., Krishna G. Palepu, and Aldo Sesia, Jr. "Transparent Value LLC." Harvard Business School Case 108-069, March 2008. (Revised February 2009.)
- July 2019 (Revised May 2021)
- Case
Acelerex
By: John R. Wells and Benjamin Weinstock
In early 2019, Randell Johnson, Founder and Chief Executive of Acelerex, was reflecting on the company’s first year of rapid growth and the challenges of scaling the business that lay ahead. Acelerex was riding the waves of change taking place in electrical power grids... View Details
Keywords: Energy; Energy Sources; Growth Management; Expansion; Global Strategy; Cash Flow; Energy Industry; Web Services Industry; Consulting Industry
Wells, John R., and Benjamin Weinstock. "Acelerex." Harvard Business School Case 720-360, July 2019. (Revised May 2021.)
- January 2018 (Revised January 2021)
- Background Note
Customer Lifetime Social Value (CLSV)
By: Elie Ofek, Barak Libai and Eitan Muller
One of the hallmarks of the digital revolution is the rise of the socially connected consumer. Concomitantly, the ability of companies to affect and measure the social interactions among customers has grown tremendously. Consequently, in assessing the full value of... View Details
Keywords: Customer Lifetime Value; Customer Management; Social Contagion; Word Of Mouth; Customer Engagement; Customer Value and Value Chain; Measurement and Metrics; Customer Relationship Management
Ofek, Elie, Barak Libai, and Eitan Muller. "Customer Lifetime Social Value (CLSV)." Harvard Business School Background Note 518-077, January 2018. (Revised January 2021.)
- February 1992 (Revised March 1993)
- Case
Intel Corp.--1992
By: Kenneth A. Froot
Intel Corp., the world's dominant designer and manufacturer of microprocessors (the "brains" of the personal computer), has accumulated a large amount of cash (net of debt). Furthermore, it expects to continue to accumulate cash at an unprecedented rate. Has the... View Details
Keywords: Dividends; Financial Management; Competition; Multinational Firms and Management; Cash; Technological Innovation; Capital Structure; Investment Return; Equity; Financial Strategy; Corporate Finance; Semiconductor Industry; United States
Froot, Kenneth A. "Intel Corp.--1992." Harvard Business School Case 292-106, February 1992. (Revised March 1993.)
- 2004
- Working Paper
Are Perks Purely Managerial Excess?
By: Raghuram G. Rajan and Julie Wulf
Why do some firms tend to offer executives a variety of perks while others offer none at all? A widespread view in the corporate finance literature is that executive perks are a form of agency or private benefit and a way for managers to misappropriate some of the... View Details
Keywords: Motivation and Incentives; Performance Productivity; Executive Compensation; Corporate Finance
Rajan, Raghuram G., and Julie Wulf. "Are Perks Purely Managerial Excess?" NBER Working Paper Series, No. 10494, May 2004. (Published in Journal of Financial Economics 2006.)
- 2014
- Article
The Growth and Limits of Arbitrage: Evidence from Short Interest
By: Samuel G. Hanson and Adi Sunderam
We develop a novel methodology to infer the amount of capital allocated to quantitative equity arbitrage strategies. Using this methodology, which exploits time-variation in the cross section of short interest, we document that the amount of capital devoted to value... View Details
Hanson, Samuel G., and Adi Sunderam. "The Growth and Limits of Arbitrage: Evidence from Short Interest." Review of Financial Studies 27, no. 4 (April 2014): 1238–1286. (Winner of the RFS Rising Scholar Prize 2014. Internet Appendix Here.)
- July 2010 (Revised August 2021)
- Supplement
Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V. (VHSS): Valuing Ships (CW)
By: Benjamin C. Esty and Albert W. Sheen
After booming for more than five years, the global shipping (maritime) industry experienced a dramatic crash in late 2008 as the global financial system froze and the global economy slid into recession. Ship charter rates (revenue) fell by as much as 90% causing prices... View Details
- November 1994 (Revised September 1996)
- Case
RiceSelect
By: Alvin J. Silk and Mary Shelman
In August 1994, Robin Andrews, President of RiceTec, Inc., faces a critical decision that will affect his firm's future: what policy should RiceTec follow for supplying grocery retailers with private label merchandise? RiceTec, a small privately owned firm engaged in... View Details
Keywords: Cash Flow; Leadership; Growth and Development Strategy; Brands and Branding; Marketing Strategy; Supply Chain Management; Private Ownership; Research and Development; Conflict Management; Agriculture and Agribusiness Industry; Retail Industry
Silk, Alvin J., and Mary Shelman. "RiceSelect." Harvard Business School Case 595-033, November 1994. (Revised September 1996.)
- May 2004 (Revised April 2006)
- Case
Ultra: The Quest for Leadership (A)
By: Dwight B. Crane and Ricardo Reisen de Pinho
Ultra is one of a small group of competing Brazilian petrochemical companies, each of which buys raw material and is a minority owner of Copene, a "cracking" company that provides ethylene and other materials. Because of an industry restructuring, an auction of shares... View Details
Keywords: Capital; Capital Budgeting; Investment; Risk and Uncertainty; Risk Management; Industry Structures; Cash Flow; Cost of Capital; Valuation; Bids and Bidding; Economy; Ownership Stake; Chemical Industry; Brazil
Crane, Dwight B., and Ricardo Reisen de Pinho. "Ultra: The Quest for Leadership (A)." Harvard Business School Case 204-146, May 2004. (Revised April 2006.)
- July 2018 (Revised January 2019)
- Teaching Note
MC Tool
By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld
Sean Witty and Jason Premo acquired MC Tool, a machine shop located in South Carolina in 2007 with the intent to transform it into a precision manufacturer. Witty and Premo were able to more than double revenue to $6 million in their first year of managing MC by... View Details
- October 2013 (Revised January 2014)
- Supplement
Fred Khosravi and AccessClosure (B)
By: Richard G. Hamermesh and Lauren Barley
It was January 2013, and Fred Khosravi, chairman of the board of AccessClosure Inc., wondered what the new year had in store for him and AccessClosure, the company he founded in late 2002. Khosravi was cautiously optimistic—the Mountain View, California-based medical... View Details
Keywords: Medical Devices; Vascular Closure Device; Patent Litigation; Patenting; Biomedical Research; Biotechnology; Biotech; Technological Innovation; Patents; Health Care and Treatment; Biotechnology Industry; United States; California
Hamermesh, Richard G., and Lauren Barley. "Fred Khosravi and AccessClosure (B)." Harvard Business School Supplement 814-038, October 2013. (Revised January 2014.)