Publications

11 Dec 2012
First Look

First Look: Dec. 11

and Efficiency in the Market for IP Addresses Authors:Edelman, Benjamin, and Michael Schwarz Abstract We consider market rules for the transfer of IP addresses, numeric identifiers required by all computers... View Details

Keywords: Sean Silverthorne

Web

Human Behavior & Decision-Making - Faculty & Research

Odhrain McCarthy 2025 | Working Paper | Faculty Research We address two inconvenient facts in asset pricing: (i) valuation ratios are often more related to future cash flows than to returns, and (ii) they mostly fail to predict returns.... View Details

Web

Topics - HBS Working Knowledge

Stakeholder Relations (4) Business or Company Management (19) COVID-19 (127) Capital Markets (13) Capital Structure (1) Capital (65) Cash Flow (1) Cash (2) Central Banking (2) Change Management (67) Change (116) Civil Society or Community... View Details

May 2020 (Revised November 2021)
Supplement

Valuing Peloton

By: E. Scott Mayfield

Peloton Interactive, a well-known unicorn in the connected fitness space, had gone public with a market capitalization of over $8.0 billion. In the weeks following its public debut, Peloton’s stock price fell by over 25%. Taylor Knox, a stock analyst and enthusiastic... View Details

Keywords: Business Model; Disruptive Innovation; Risk and Uncertainty; Stocks; Price; Valuation; Entertainment and Recreation Industry

November 1991 (Revised December 1996)
Case

Pressco, Inc.--1985

By: William E. Fruhan Jr.

A capital budgeting problem is viewed from the context of a marketing representative attempting to make a sale of energy saving heavy industrial equipment. Tax law changes promise to have a significant impact on the customer's decision process. Teaching purpose: To... View Details

Keywords: Capital Budgeting; Machinery and Machining; Valuation; Taxation; Customer Value and Value Chain; Cost vs Benefits; Inflation and Deflation; Cost Management; Product Marketing; North and Central America

01 Dec 2023
News

Venturing Forth

Illustration by Adam McCauley Venture capital is a heady industry: Big bets mean big checks when the deals hit right. And for most of the last decade, those taking part in the funds were riding high: Capital was abundant, valuations were soaring, and the stock market... View Details

Keywords: Janelle Nanos; Funds, Trusts, and Other Financial Vehicles; Finance

February 1996
Case

USX Corporation

By: Stuart C. Gilson and Jeremy Cott

A large diversified steel and energy firm is pressured by a corporate raider to spin off its steel business in order to increase its stock price. As an alternative to the spinoff, management proposes replacing the company's common stock with two new classes of... View Details

Keywords: Restructuring; Stocks; Valuation; Financial Institutions; Cash Flow

25 Jan 2016
Research & Ideas

When Negotiating a Price, Never Bid with a Round Number

recent study of mergers and acquisitions, investors who offer “precise” bids for company shares yield better market outcomes than those who offer round-numbered bids. “If one party gives a round number, it gives the signal that the party... View Details

Keywords: by Carmen Nobel

November 2002 (Revised November 2005)
Case

MontGras: Export Strategy for a Chilean Winery

By: David J. Arnold, Howard H. Stevenson and Alexandra de Royere

MontGras, a medium-sized Chilean winery, has to formulate an export strategy. It has to decide whether to emphasize the U.S. or U.K. markets, which also offer different positioning and pricing proposals. It has twice failed to penetrate the U.S. market because... View Details

Keywords: Decision Choices and Conditions; Cost Management; Global Strategy; Growth and Development Strategy; Marketing Strategy; Product Positioning; Business and Stakeholder Relations; Business Strategy; Valuation

View Details

Keywords: federal government; real estate

01 Dec 2023
News

Thinking Ahead

companies, Senior Lecturer Julia Austin has a more nuanced understanding of this reality than most—and a few pointers for anxious founders to keep in mind. “It’s still unpredictable, hard, and illogical in some ways,” Austin says of the current environment. “What’s... View Details

Keywords: Julia Hanna; Illustrations by Chris Gash; News, Library, Internet, and Other Services; Information

2014
Working Paper

Governing Misvalued Firms

By: Dalida Kadyrzhanova and Matthew Rhodes-Kropf

Equity overvaluation is thought to create the potential for managerial misbehavior, while monitoring and corporate governance curb misbehavior. We combine these two insights from the literatures on misvaluation and governance to ask, when does governance matter?... View Details

Keywords: Valuation; Performance; Corporate Governance

Read Now

August 2013 (Revised November 2013)
Case

Gordon Brothers: Collateralizing Corporate Loans by Brands

By: Paul Healy and Maria Loumioti

The case explores the collateralization of intellectual property in a loan agreement between a highly leveraged apparel company and a large US bank. Leveraging intangibles in the credit market is a new practice that has significantly grown over the past few years.... View Details

Keywords: Intangible Assets; Accounting; Valuation; Finance; Restructuring; United States