Publications

18 Aug 2014
News

When a Spinoff Makes Strategic Sense

Keywords: corporate spinoff; corporate restructuring

spring 2006
Article

All's Fair in Love, War, & Bankruptcy: Corporate Governance Implications of CEO Turnover in Financial Distress

By: Ethan S. Bernstein

Prior discussions of management turnover during financial distress have examined bankrupt and non-bankrupt firms as distinct groupings with little overlap. Separately investigating rates of turnover in-bankruptcy and out-of-bankruptcy, without a direct comparison... View Details

Keywords: CEO Turnover; Bankruptcy; Restructuring; Shadow Of Bankruptcy; Borrowing and Debt; Credit; Financing and Loans; Corporate Governance; Finance; Theory; Markets; United States

September 1997 (Revised August 2007)
Case

Bankruptcy and Restructuring at Marvel Entertainment Group

By: Benjamin C. Esty and Jason Auerbach

Marvel Entertainment Group is the leading comic book publisher in the United States, with superheros like Spider-Man, the Incredible Hulk, the X-Men, and Captain America. It is also one of the leading manufacturers of sports and entertainment trading cards under the... View Details

Keywords: Restructuring; Decision Choices and Conditions; Borrowing and Debt; Insolvency and Bankruptcy; Governance Controls; Courts and Trials; Planning; Entertainment and Recreation Industry

November 1984 (Revised March 1985)
Case

Restructuring European Petrochemicals: British Petroleum, P.L.C.

By: Francis Aguilar, Joseph L. Bower and Benjamin Gomes-Casseres

Keywords: Restructuring; Corporate Strategy; Energy Industry; Chemical Industry; Europe

November 1984 (Revised March 1985)
Case

Restructuring European Petrochemicals: The Dow Chemical Co.

By: Francis Aguilar, Joseph L. Bower and Benjamin Gomes-Casseres

Keywords: Restructuring; Corporate Strategy; Energy Industry; Chemical Industry; Europe

November 1984 (Revised March 1985)
Case

Restructuring European Petrochemicals: Royal Dutch/Shell Group

By: Francis Aguilar, Joseph L. Bower and Benjamin Gomes-Casseres

Keywords: Restructuring; Corporate Strategy; Energy Industry; Chemical Industry; Europe

January 2002 (Revised September 2002)
Case

Corporate Renewal in America

By: Bruce R. Scott and Thomas S. Mondschean

Discusses various macroeconomic, regulatory, technological, and financial forces that led to increased corporate restructuring in the United States beginning in the mid-1980s. The U.S. financial system is often viewed as the most developed in the world and a model for... View Details

Keywords: Performance Evaluation; Corporate Governance; Macroeconomics; Economic Systems; Restructuring; Markets; Private Sector; Corporate Finance; Germany; Japan; United States

February 1997
Case

Transportation Displays, Incorporated (D): Exiting from a Successful Restructuring

By: Stuart C. Gilson, Vincent Hemmer, Eric Rahe, David Shorrock and Stephen Voorhis

Following a successful corporate turnaround and, more recently, a leveraged recapitalization, management of a highly profitable, fast--growing outdoor advertising company must consider alternative ways to harvest cash flow from the company without jeopardizing the... View Details

Keywords: Restructuring; Capital; Cash Flow; Profit; Taxation; Private Ownership

November 1984 (Revised March 1985)
Case

Restructuring European Petrochemicals: Imperial Chemical Industries, P.L.C.

By: Francis Aguilar, Joseph L. Bower and Benjamin Gomes-Casseres

Keywords: Restructuring; Corporate Strategy; Energy Industry; Chemical Industry; Europe

December 2018
Case

Corporate Transformation at Merck KGaA, Darmstadt, Germany

By: Joseph B. Fuller, Amy C. Edmondson, Daniela Beyersdorfer and Tonia Labruyere

When Stefan Oschmann became CEO and chairman of the executive board of Merck KGaA, Darmstadt, Germany, in 2016, the company had started its transformation from a mid-tier traditional German industry player to a global modern science and technology player. The... View Details

Keywords: Corporate Governance With Family Ownership; Transformation; Change Management; Restructuring; Corporate Governance; Family Ownership

August 2016 (Revised February 2017)
Case

Songy 2011: Restructuring to Survive (or, Surviving to Restructure?)

By: Charles F. Wu

In 2011, Songy Partners, an Atlanta-based real estate developer, was facing three distressed investments within their portfolio each with distinct sets of challenges. Having weathered a myriad of issues during the global financial crisis that included operational... View Details

Keywords: Real Estate; Distressed Debt; Global Financial Crisis; Foreclosure; Partnership; Partners and Partnerships; Valuation; Global Range; Insolvency and Bankruptcy; Property; Financial Crisis; Real Estate Industry; Atlanta

August 1972 (Revised November 2002)
Case

Prelude Corporation

Describes a company that is seeking to restructure the lobster fishing industry by applying technology and management to what has been essentially a cottage industry. The student is expected to identify and evaluate the strategy pursued by the company to date and then... View Details

Keywords: Technology; Strategy; Leading Change; Animal-Based Agribusiness; Industry Growth; Agriculture and Agribusiness Industry; Food and Beverage Industry

August 2016
Teaching Note

Songy 2011: Restructuring to Survive (Or, Surviving to Restructure?)

By: Charles F. Wu and Alexander W. Schultz

In 2011, Songy Partners, an Atlanta based real estate developer, was facing three distressed investments within their portfolio each with distinct sets of challenges. Having weathered a myriad of issues during the Global Financial Crisis which included operational... View Details

Keywords: Distressed Debt; Real Estate; Limited Partners; Cap Rates; Partners and Partnerships; Valuation; Investment; Property; Borrowing and Debt; Real Estate Industry; Atlanta