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- All HBS Web
(3,761)
- People (13)
- News (783)
- Research (2,155)
- Events (7)
- Multimedia (17)
- Faculty Publications (1,365)
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- 22 Oct 2012
- Research & Ideas
Not Your Father’s State-Run Capitalism
important state-run companies, such as oil and telecom firms, has remained steady. Moreover, while private companies may work well in countries with well-developed capital markets, countries without a robust sector for private View Details
Keywords: by Michael Blanding
- February 1997
- Case
Advent of Venture Capital in Latin America, The
By: Debora L. Spar
Widely regarded as the leader in international private equity, Advent International is considering the establishment of a private equity fund in Latin America in 1996. Typically, Advent entered new private equity markets through the creation of multicountry regional... View Details
Keywords: Venture Capital; Joint Ventures; Market Entry and Exit; Globalized Markets and Industries; Financial Services Industry; Boston; Latin America
Spar, Debora L., and Elizabeth B. Stein. "Advent of Venture Capital in Latin America, The." Harvard Business School Case 797-077, February 1997.
- 2009
- Working Paper
Capitalizing On Innovation: The Case of Japan
By: Robert Dujarric and Andrei Hagiu
Japan's industrial landscape is characterized by hierarchical forms of industry organization, which are increasingly inadequate in modern sectors, where innovation relies on platforms and horizontal ecosystems of firms producing complementary products. Using three... View Details
Keywords: Globalized Markets and Industries; Government Legislation; Innovation and Invention; Industry Structures; Horizontal Integration; Vertical Integration; Manufacturing Industry; Japan
Dujarric, Robert, and Andrei Hagiu. "Capitalizing On Innovation: The Case of Japan." Harvard Business School Working Paper, No. 09-114, April 2009. (Revised October 2009.)
- January 1995
- Background Note
A Note on Distribution of Venture Investments
By: Josh Lerner
Venture capitalists typically exit investments by distributing shares to investors. These transfers pose challenges for these investors. Predictions and evidence about the behavior of stock prices of firms around the time of these distributions are presented. View Details
Lerner, Josh. "A Note on Distribution of Venture Investments." Harvard Business School Background Note 295-095, January 1995.
- August 2001
- Case
Strategic Capital Management, LLC (C)
By: Mark L. Mitchell, Erik Stafford and Todd Pulvino
Supplements the (A) case. View Details
Keywords: Risk and Uncertainty; Business Subsidiaries; Internet and the Web; Investment Funds; Price; Performance Efficiency; Capital Markets; Auctions; Investment Return; Equity; Planning; Financial Services Industry
Mitchell, Mark L., Erik Stafford, and Todd Pulvino. "Strategic Capital Management, LLC (C)." Harvard Business School Case 202-026, August 2001.
- August 2001
- Case
Strategic Capital Management, LLC (B)
By: Mark L. Mitchell, Erik Stafford and Todd Pulvino
Supplements the (A) case. View Details
Keywords: Risk and Uncertainty; Business Subsidiaries; Internet and the Web; Investment Funds; Price; Performance Efficiency; Capital Markets; Auctions; Investment Return; Equity; Planning; Financial Services Industry
Mitchell, Mark L., Erik Stafford, and Todd Pulvino. "Strategic Capital Management, LLC (B)." Harvard Business School Case 202-025, August 2001.
- February 2024
- Case
Vespucci Partners: The New World of Venture Capital in Hungary
By: Paul A. Gompers, Tonia Labruyere and Emilie Billaud
Julia Sohajda was the young, female founding partner of the Hungarian VC firm Vespucci Partners, which focused on investing at seed stage into Hungarian deep tech startups and prepare them for a launch in the U.S market. Vespucci's first fund had largely been comprised... View Details
Keywords: Venture Capital; Business Startups; Investment Funds; Financing and Loans; Entrepreneurship; Financial Services Industry; Hungary; United States
Gompers, Paul A., Tonia Labruyere, and Emilie Billaud. "Vespucci Partners: The New World of Venture Capital in Hungary." Harvard Business School Case 824-138, February 2024.
- July 2020
- Article
The Persistent Effect of Initial Success: Evidence from Venture Capital
By: Ramana Nanda, Sampsa Samila and Olav Sorenson
We use investment-level data to study performance persistence in venture capital (VC). Consistent with prior studies, we find that each additional IPO among a VC firm's first ten investments predicts as much as an 8% higher IPO rate on its subsequent investments,... View Details
Keywords: Performance; Monitoring; Selection; Status; Venture Capital; Performance Consistency; Investment
Nanda, Ramana, Sampsa Samila, and Olav Sorenson. "The Persistent Effect of Initial Success: Evidence from Venture Capital." Journal of Financial Economics 137, no. 1 (July 2020): 231–248.
- 2011
- Working Paper
Tax Policy and the Efficiency of U.S. Direct Investment Abroad
By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.
Deferral of U.S. taxes on foreign source income is commonly characterized as a subsidy to foreign investment, as reflected in its inclusion among "tax expenditures" and occasional calls for its repeal. This paper analyzes the extent to which tax deferral and other... View Details
Keywords: Cash Flow; Investment Return; Foreign Direct Investment; Investment Funds; Policy; Taxation; United States
Desai, Mihir A., C. Fritz Foley, and James R. Hines Jr. "Tax Policy and the Efficiency of U.S. Direct Investment Abroad." NBER Working Paper Series, No. 17202, July 2011.
- February 2024 (Revised June 2024)
- Case
Can Families Conquer Private Equity? Pritzker Private Capital
By: Lauren Cohen and Sophia Pan
Anthony (Tony) Pritkzer, Paul Carbone, and the Pritzker Private Capital (PPC) team wondered how to approach the firm’s next phase of growth. PPC was a private equity firm that offered a differentiated approach to the family capital market. Back in 2016, the partners... View Details
Keywords: Family Office; External Financing; Succession; Leadership Transition; Family Business; Private Equity; Investment; Business Growth and Maturation; Financial Strategy; Investment Portfolio; Business Model; Private Sector; Financial Liquidity; Risk Management; Organizational Structure; Competitive Advantage; Venture Capital; Management Succession; Financial Services Industry; Chicago; Illinois; United States
Cohen, Lauren, and Sophia Pan. "Can Families Conquer Private Equity? Pritzker Private Capital." Harvard Business School Case 224-078, February 2024. (Revised June 2024.)
- 2024
- Working Paper
Primary Capital Market Transactions and Index Funds
By: Marco Sammon and Chris Murray
We document the effects of mechanical buying by CRSP-index-tracking funds on post-IPO returns and IPO deal structure. Leveraging a difference-in-differences-style design built on a 2017 CRSP rule change, we find that expected index fund demand leads fast track IPOs to... View Details
Keywords: Investment Funds; Initial Public Offering; Investment Return; Price; Market Transactions; Financial Markets
Sammon, Marco, and Chris Murray. "Primary Capital Market Transactions and Index Funds." Working Paper, August 2024.
- November 2000
- Case
Wit Capital: Evolution of the Online Investment Bank (B)
Describes the evolution of Wit Capital from its origins as a small brewery to an online investment bank advising both small technology-based companies seeking to raise capital and large companies seeking to acquire Internet companies, as well as offering retail... View Details
Keywords: Internet and the Web; Disruptive Innovation; Service Delivery; Investment Banking; Entrepreneurship
Hallowell, Roger H., and Charles Ruberto. "Wit Capital: Evolution of the Online Investment Bank (B)." Harvard Business School Case 801-265, November 2000.
- 2000
- Other Unpublished Work
Career Concerns and Staged Investment: Evidence from the Venture Capital Industry
By: Malcolm Baker
I develop a model in which career concerns lead to inefficient reinvestment decisions. Managers have incentives to inflate interim returns by continuing bad projects and delaying write-offs. In the venture capital industry, the syndication of follow-on investments can... View Details
Keywords: Performance Efficiency; Valuation; Venture Capital; Investment; Decisions; Motivation and Incentives; Quality
Baker, Malcolm. "Career Concerns and Staged Investment: Evidence from the Venture Capital Industry." 2000. (First draft in 2000.)
- 07 May 2007
- Research & Ideas
Rediscovering Schumpeter: The Power of Capitalism
If capitalism was the most influential single economic and social force of the 20th century (and continuing today), there is no better guide to understanding its power and complexity than famed economist Joseph Schumpeter, says Harvard... View Details
- August 2021 (Revised November 2021)
- Case
The NCB Capital Turnaround: Waking the Sleeping Giant
By: Sandra J. Sucher, Gamze Yucaoglu, Shalene Gupta and Fares Khrais
The case opens in 2019, five years after, Sarah Al Suhaimi, CEO of NCB Capital (NCBC), the investment arm of Saudi’s largest bank, NCB, took the helm. Having successfully turned the business to make it the market leader, she was contemplating her next steps as... View Details
Keywords: Turnaround; Investment Banking; Financial Institutions; Change Management; Leadership; Business Model; Strategy; Business and Stakeholder Relations; Management Teams; Asset Management; Growth and Development Strategy; Saudi Arabia
Sucher, Sandra J., Gamze Yucaoglu, Shalene Gupta, and Fares Khrais. "The NCB Capital Turnaround: Waking the Sleeping Giant." Harvard Business School Case 322-043, August 2021. (Revised November 2021.)
- 1 Jul 2013
- Panel Discussion
Master Class Session on Business and Investing in Africa
By: Euvin Naidoo, Pravin Gordhan, Nkosana Moyo, Moe Shaik, Polo Radebe and Cassim Coovadia
Annual Master Class Evening Session on:
'Business and Investment in Africa' - from Strategy to Execution
Keynote address by
Minister of Finance
Pravin Gordhan
Led by South African Euvin Naidoo, who serves in his personal capacity as visiting faculty member at Wits... View Details
Naidoo, Euvin, Pravin Gordhan, Nkosana Moyo, Moe Shaik, Polo Radebe, and Cassim Coovadia. "Master Class Session on Business and Investing in Africa." Wits Business School, July 1, 2013.
- 30 Nov 2020
- Working Paper Summaries
Short-Termism, Shareholder Payouts, and Investment in the EU
Keywords: by Jesse M. Fried and Charles C.Y. Wang
- December 2009
- Article
Empire-Building or Bridge-Building? Evidence from New CEOs' Internal Capital Allocation Decisions
By: Yuhai Xuan
This article investigates how the job histories of CEOs influence their capital allocation decisions when they preside over multi-divisional firms. I find that, after CEO turnover, divisions not previously affiliated with the new CEO receive significantly more capital... View Details
Keywords: Business Divisions; Decision Choices and Conditions; Capital Budgeting; Financial Management; Managerial Roles; Resource Allocation
Xuan, Yuhai. "Empire-Building or Bridge-Building? Evidence from New CEOs' Internal Capital Allocation Decisions." Review of Financial Studies 22, no. 12 (December 2009): 4919–4948. (Online Appendix.)
- 18 Sep 2000
- Research & Ideas
Big Deals: Financing Large-Scale Investments
countries with limited resources, implies that project finance should continue to loom large in the years ahead. Despite the magnitude of annual investment and recent growth, however, there has been relatively little academic work in this... View Details
Keywords: by Julia Hanna
- December 2024
- Case
Core Innovation Capital: Investing in Fintech for Good
In 2017, Arjan Schütte, founder of Core Innovation Capital, faced a decision on whether to invest in Hugo Insurance, an auto insurance startup. Core, an early-stage social impact VC firm, focused on “fintech for good,” by investing in financial services for low- to... View Details