Publications
Publications
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- All HBS Web
(3,399)
- Faculty Publications (1,180)
- April 2017 (Revised August 2020)
- Case
The U-Turns of National Truck Stops
By: Nori Gerardo Lietz and Alexander W. Schultz
Raj Makam had spent months trying to restructure a 2006 investment he had made in National Truck Stops, Inc. (NTS) as a senior member of Oaktree Capital Management’s (Oaktree) Mezzanine finance business within their Corporate Debt platform. It was the first time they... View Details
- March 2017
- Case
SKS Microfinance (Abridged)
By: Shawn Cole and Theresa Chen
Vikram Akula, CEO of SKS Microfinance, seeks a venture capital investment to fund his firm. SKS, one of the largest and fastest growing microfinance institutions in India, is a profitable, for-profit institution with a social mission. In what is one of the first... View Details
- March 2017 (Revised June 2019)
- Case
Mubadala and EBX: To X or to X It?
By: Nori Gerardo Lietz, Ricardo Andrade and Sayiddah Fatima McCree
In April 2012, Mubadala, Abu Dhabi's sovereign wealth fund invested $2 billion in Brazilian conglomerate EBX, believing the company to be undervalued by the public markets. Shortly thereafter, however, EBX and its multiple business lines began to spiral downward. Hani... View Details
- March 2017
- Supplement
eBay vs. Carl Icahn, 2014: Interview with John Donahoe, eBay CEO 2008-2015
By: David B. Yoffie, Eric Baldwin and Tom Ryder
This video, a supplement to HBS Case No. 717-417, features an interview with former eBay CEO John Donahoe, providing his perspective on eBay's response to activist investor Carl Icahn's attack on eBay, which began in January 2014. After giving some of his own... View Details
- 2017
- Working Paper
Why and How Investors Use ESG Information: Evidence from a Global Survey
Using survey data from a sample of senior investment professionals from mainstream (i.e., not SRI funds) investment organizations, we provide insights into why and how investors use reported environmental, social, and governance (ESG) information. The primary reason... View Details
Keywords: Investment Management; Sustainability; ESG; ESG (Environmental, Social, Governance) Performance; Investment Fund; Investment Strategy; Corporate Accountability; Activist Shareholder; Engagement; Environment; Climate Change; Customers; Customer Satisfaction; Employee Engagement; Global Warming; Investment; Decision Making; Environmental Sustainability; Performance Expectations
- January 2017 (Revised January 2019)
- Case
The Rise and Fall of Lehman Brothers
By: Stuart C. Gilson, Kristin Mugford and Sarah L. Abbott
With nearly $700 billion in assets, Lehman was the largest U.S. bankruptcy in history. In 2007, Lehman achieved record earnings of over $4 billion on revenues of $60 billion. By September 2008 the fourth largest investment bank in the world was bankrupt. How had a... View Details
Keywords: Bankruptcy; Financial Distress; Accounting Policies; Business Ethics; Financial Reporting; Volatility; Judgments; Financial Crisis; Insolvency and Bankruptcy; Financial Liquidity; Investment Banking; Financial Management; Financial Strategy; Corporate Accountability; Corporate Disclosure; Corporate Governance; Crisis Management; Risk Management; Failure; Business and Government Relations; Ethics; Banking Industry; New York (city, NY)
- December 2016 (Revised December 2018)
- Case
From Start-Up to Grown-Up Nation: The Future of the Israeli Innovation Ecosystem
By: Elie Ofek and Margot Eiran
In June 2016, Benjamin (Bibi) Netanyahu, Prime Minister of Israel, wrestled with how to sustain Israel’s strong innovation track record and the country’s reputation as the “startup nation.” Despite the economic miracle the country had wrought since its founding, he... View Details
Keywords: Israel; Israeli Start-up Nation; Innovation Economy; Entrepreneurial Mindset; Scaling-up; Unicorns; Innovation Clusters; High-tech; Innovation Management; Multinational Corporation R＆D Centers; Social Equality; Two-tier Economy; Liberalizing An Economy; Foreign Investment; Military Service; Quality Of Human Capital; Socioeconomic Gaps; Labor Force Participation; Government Initiatives; Innovation and Management; Entrepreneurship; Venture Capital; Business Startups; Government and Politics; Economy; Equality and Inequality; Education; Resource Allocation; Globalization; Israel
- December 2016
- Article
Corporate Sponsorship in Culture—A Case of Collaborative Marketing by a Global Bank and a Major Art Museum
By: Ragnar Lund and Stephen A. Greyser
This paper examines cultural sponsorship from a partnership perspective. It studies the collaboration between two international institutions, a bank and a museum, and their value co-creation with customers and audiences. This in-depth case study of a sponsorship... View Details
- 2016
- Chapter
The Origins of High-Tech Venture Investing in America
By: Tom Nicholas
The United States has developed an unparalleled environment for the provision of high-tech investment finance. Today it is reflected in the strength of agglomeration economies in Silicon Valley, but historically its origins lay in the East Coast. Notably, immediate... View Details
- November 2016
- Article
Corporate Sustainability: First Evidence on Materiality
By: Mozaffar Khan, George Serafeim and Aaron Yoon
Using newly available materiality classifications of sustainability topics, we develop a novel dataset by hand-mapping sustainability investments classified as material for each industry into firm-specific sustainability ratings. This allows us to present new evidence... View Details
- 2016
- Book
Why They Do It: Inside the Mind of the White-Collar Criminal
By: Eugene F. Soltes
From the financial fraudsters of Enron, to the embezzlers at Tyco, to the Ponzi schemer Bernie Madoff, the failings of corporate titans are regular fixtures in the news. But what drives wealthy and powerful people to white-collar crime? I draw from extensive personal... View Details
- October 2016 (Revised October 2017)
- Case
Misaki Capital and Sangetsu Corporation
By: Ian Gow, Charles C.Y. Wang, Naoko Jinjo and Nobuo Sato
Japan’s corporate culture has traditionally prioritized the interests of stakeholders such as customers, employees, and suppliers over those of shareholders. After a decades-long economic slump, Japan’s government has revitalized efforts to improve corporate governance... View Details
- Editorial
The Type of Purpose That Makes Companies More Profitable
By: George Serafeim and Claudine Gartenberg
- September 2016 (Revised February 2017)
- Case
MyTime
By: Juliane Begenau and Robin Greenwood
Ethan Anderson, the CEO of San Francisco–based e-commerce company MyTime, must decide on the company's growth strategy. MyTime’s first product was a website and mobile app that offered consumers a convenient way to book appointments with local merchants throughout the... View Details
- 2018
- Working Paper
Bank Risk-Taking and the Real Economy: Evidence from the Housing Boom and Its Aftermath
By: Antonio Falato, Giovanni Favara and David Scharfstein
The short-termism of lenders amplifies boom-bust credit cycles, leading in turn to real costs for the aggregate economy. During the U.S. housing credit boom, publicly-traded banks increased mortgage lending activity and relaxed standards much more than privately-held... View Details
- Article
ESG Integration in Investment Management: Myths and Realities
By: Sakis Kotsantonis, Christopher Pinney and George Serafeim
The authors’ aim in this article is to set the record straight on the financial performance of sustainable investing while also correcting a number of other widespread misconceptions about this rapidly growing set of principles and methods.
Myth Number 1:... View Details
- September 2016
- Case
Financial Services at Falabella (A)
By: C. Fritz Foley and Agustin M. Hurtado
In 2010, the board and senior management team of Falabella, a leading retailer with operations throughout Latin America, faced choices about what to do with its financial services division. More than 4.5 million customers had CMR credit cards that could be used in... View Details
- September 2016
- Supplement
Financial Services at Falabella (B)
By: C. Fritz Foley and Agustin M. Hurtado
Supplements the (A) case and provides an update describing choices Falabella made. View Details
- August 2016
- Teaching Note
The Role of Real Estate in Endowment Portfolios: The Case of Christ Church College
By: Arthur I. Segel and Alexander W. Schultz
The case centers on Christ Church’s Treasurer, James Lawrie, who is contemplating his options for investing a portion of the College’s endowment in real estate. Approximately 1/3 of the total $690 million endowment was allocated towards real estate, much higher than... View Details