Publications

July 2023 (Revised February 2024)
Case

Equity Restructuring at Dell Technologies: Buy Out, Buy Up, Buy In (A)

By: Stuart C. Gilson and Sarah L. Abbott

In November 2018, Dell Technologies was poised to re-enter the public markets by means of a complex recapitalization that would replace an entire class of publicly-traded “tracking stock,” with new shares that would trade publicly without the need of a formal IPO. The... View Details

Keywords: Technology; M＆A; Recapitalization; MBO; Equity Issues; Private Equity Buyouts; Public Ownership; Stock Shares; Mergers and Acquisitions; Equity; Technology Industry; United States

March 2003 (Revised November 2005)
Case

Bertelsmann AG

By: Bharat N. Anand, Michael G. Rukstad and Christoph Kostring

On July 28, 2002, Bertelsmann announced the firing of its CEO, Thomas Middelhoff, in a move that surprised industry observers, analysts, and many employees. Bertelsmann, a privately held company headquartered in Germany, was one of the largest global media... View Details

Keywords: Business Conglomerates; Corporate Strategy; Entertainment; Media; Change Management; Integration; Resignation and Termination; Private Ownership; Initial Public Offering; Business Units; Media and Broadcasting Industry; Publishing Industry; Music Industry; Germany

29 Mar 2008
Research & Ideas

Creativity, Entrepreneurship, and Organizations of the Future

creativity and investigate more deeply the veracity of the popular "lone genius" concept. What insights or surprises did you walk away with? We were pleasantly surprised by multiple facets, from incentives that foster creativity... View Details

Keywords: by Teresa M. Amabile & Mukti Khaire

15 Sep 2015
First Look

September 15, 2015

decision support tool for Rue La La's daily use. We conduct a field experiment and find that sales do not decrease due to implementing tool recommended price increases for medium and high price point products. Finally, we estimate an increase in revenue of the test... View Details

Keywords: Sean Silverthorne

20 Aug 2001
Research & Ideas

Making an Ally of Uncle Sam

levels, will affect structural conditions." 2 Porter integrated the impact of government into strategy development by focusing on how it affected his "five-forces" analysis of rivals, potential entrants, suppliers,... View Details

Keywords: by Michael Watkins, Mickey Edwards & Usha Thakrar

March 2021
Case

Astralis Group: Determining a Brand Strategy

By: Benjamin C. Esty, Mette Fuglsang Hjortshoej and Emilie Billaud

After launching a Danish esports company in July 2019, and going public in December 2019 with multiple brands associated with different games, the Astralis leadership team was contemplating a shift to a single, corporate brand. While the original arguments for... View Details

September 2015
Case

Hexion/Apollo's Courtship of Huntsman Corporation (A)

By: Lena G. Goldberg and Danielle V. Holland

In July 2007, after several failed attempts to acquire Huntsman Corporation, Hexion/Apollo prevailed in a bidding war for the company and signed a definitive merger agreement. Apollo had down bid Huntsman during previous attempts to acquire the company, and Huntsman... View Details

Keywords: Fiduciary Outs; Topping Rights; Revlon Duties; Solvency Opinions; Reverse Termination Fees; Litigation Strategy; Law

March 2006 (Revised April 2010)
Case

China: To Float or Not To Float? (A)

By: Laura Alfaro, Rafael M. Di Tella and Ingrid Vogel

On July 21, 2005 China revalued its decade-long quasi-fixed exchange rate of approximately 8.28 yuan per U.S. dollar by 2.1% to 8.11 and, at the same time, introduced a more market-based exchange rate system. Many analysts and economists were disappointed with what... View Details

Keywords: Macroeconomics; Trade; Currency Exchange Rate; Governance Controls; Policy; Growth and Development Strategy; China

30 Apr 2013
First Look

First Look: April 30

daunting challenge. It takes courage and hard work. Too often, we charge down a path leading to "success" as defined by those around us-and ultimately, are left feeling dissatisfied. Each of us is unique and brings distinctive... View Details

Keywords: Sean Silverthorne

October 2001 (Revised December 2001)
Case

EU Takeover Directive

By: Guhan Subramanian and Michelle Kalka

The draft 13th Company Law Directive, originally written in the 1980s and first formally proposed in 1990, was intended to harmonize the takeover laws of the member states of the European Union (EU). From its inception, though, this bill was controversial. Nations... View Details

Keywords: Conflict of Interests; Mergers and Acquisitions; Laws and Statutes; Policy; Problems and Challenges; Cross-Cultural and Cross-Border Issues; Germany; United Kingdom; European Union

Find at Harvard

2020
Working Paper

Bankruptcy and the COVID-19 Crisis

By: Jialan Wang, Jeyul Yang, Benjamin Iverson and Raymond Kluender

We examine the impact of the COVID-19 economic crisis on business and consumer bankruptcies in the United States using real-time data on the universe of filings. Historically, bankruptcies have closely tracked the business cycle and contemporaneous unemployment rates.... View Details

Keywords: Bankruptcy; Financial Distress; COVID-19; Insolvency and Bankruptcy; Financial Crisis; Health Pandemics; United States

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November 2013 (Revised May 2023)
Case

Valuing Yahoo! in 2013

By: Luis M. Viceira and Atul Khosla

In late July 2013, Danielle Engle, Managing Director of Clairemont Capital, was contemplating what to do about a large investment her fund had in the stock of Yahoo! Inc. In mid-2012, Clairemont had invested nearly $75M in Yahoo! after the tech company settled a highly... View Details

Keywords: Investment; Decision Making; Investment Activism; Business Model; Growth and Development Strategy; Valuation

18 Jun 2013
First Look

First Look: June 18

Unlocking Innovation Through Business Experimentation By: Thomke, Stefan Abstract—No abstract available. Publisher's link: http://www.europeanbusinessreview.com/?p=8420 Working Papers Pay Harmony: Peer Comparison and Executive Compensation By: Gartenberg, Claudine,... View Details

Keywords: Anna Secino

March 2014
Case

Jurlique: Globalizing Beauty from Nature and Science

By: Geoffrey Jones and Andrew Spadafora

Considers the marketing and strategic challenges faced by natural beauty brands using the case of Australian-based Jurlique, which was acquired by Pola of Japan in 2011. The case opens two years later in July 2013 when Sam McKay, the chief executive officer, on a visit... View Details

Keywords: Australia; China; Environmental Strategies; Green Business; Marketing; Entrepreneurship; Globalization; Beauty and Cosmetics Industry; China; Australia; United States

February 2021
Case

A Cultural Transformation at Southeastern Grocers

By: Suraj Srinivasan, Jonah S. Goldberg and Joseph A. Paul

When Anthony Hucker, the CEO of Southeastern Grocers (SEG), took over in that role in July 2017, the company was in dire financial and operational condition and was headed towards bankruptcy. SEG, the fifth largest grocery chain in the U.S. in early 2021, operated... View Details

Keywords: Business Transformation; Strategy Execution; Retail; Organizational Culture; Transformation; Growth and Development Strategy; Performance; Success; Retail Industry; Food and Beverage Industry; United States; Florida

29 May 2012
First Look

First Look: May 29

will adopt the change. By contrast, strong ties to potentially influential organization members who disapprove of a change outright (resistors) are an effective means of affective cooptation only when a change diverges little from... View Details

Keywords: Sean Silverthorne

February 2021
Supplement

HNA Group: Global Excellence with Chinese Characteristics (C)

By: William C. Kirby, Billy Chan and John P. McHugh

July 2017 was supposed to be a triumphant month for HNA Group. The latest Fortune Global 500 list showed the company had again skyrocketed in its ranking to no. 170, an improvement of over 200 positions from the year prior. Yet earlier that same July, the mysterious... View Details

Keywords: Conglomerate; Airline Industry; Coronavirus; Financial Risk; Debt; Bankruptcy; Global Strategy; Restructuring; Health Pandemics; Financial Markets; Organizational Change and Adaptation; Financial Condition; Globalized Firms and Management; Business and Government Relations; Air Transportation Industry; Financial Services Industry; China