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Show Results For
- All HBS Web
(10,784)
- People (34)
- News (2,447)
- Research (5,454)
- Events (52)
- Multimedia (136)
- Faculty Publications (3,869)
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- 14 Oct 2011
- Working Paper Summaries
The Cost of Capital for Alternative Investments
Keywords: by Jakub W. Jurek & Erik Stafford
- May 1992 (Revised July 1995)
- Case
Capital Holding Corp.: Reengineering the Direct Response Group
By: Donna B. Stoddard
Describes a major change initiative--reengineering--that is underway at Capital Holding Corp.'s Direct Response Group. The reengineering initiative involved changes to the organization's structure, control systems, and information systems. View Details
Keywords: Organizational Change and Adaptation
Stoddard, Donna B. "Capital Holding Corp.: Reengineering the Direct Response Group." Harvard Business School Case 192-001, May 1992. (Revised July 1995.)
- Research Summary
The Origins, Current State, and Future of Capitalism
Starting with the dawn of market capitalism in Renaissance Italy, Professor Reinert works at the intersection of economic ideas, policies, and practices in history, particularly as seen through the lens of national strategies in international competition. He seeks to... View Details
- August 2003 (Revised May 2009)
- Background Note
Basic Venture Capital Formula, The
By: William A. Sahlman and Matthew Willis
Briefly summarizes the process that venture capitalists use to analyze high-risk, long-term investments. Contains information on methods that can be used to calculate valuation, share price, percent ownership, implied valuation, dilution, and option pools. View Details
Sahlman, William A., and Matthew Willis. "Basic Venture Capital Formula, The." Harvard Business School Background Note 804-042, August 2003. (Revised May 2009.)
- 2013
- Working Paper
Overcoming Organizational Barriers to Waste Heat Recovery
By: Chonnikarn Fern Jira and Deishin Lee
Waste heat recovery is a proven technology for improving energy efficiency and reducing the environmental impact of energy-intensive manufacturing firms. However, evidence suggests that opportunities for recovering waste heat are untapped. By showing how the process... View Details
- Research Summary
Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation (joint with Sebnem Kalemli-Ozcan and Vadym Volosovych)
By: Laura Alfaro
We examine the role of different explanations for the lack of
flows of capital from rich to poor countries -- the Lucas paradox
-- in an empirical framework. Broadly, the theoretical
explanations for this paradox include differences in fundamentals
affecting the... View Details
- 2019
- Chapter
Merchants and the Origins of Capitalism
By: Sophus A. Reinert and Robert Fredona
N.S.B. Gras, the father of business history in the United States, argued that the era of mercantile capitalism was defined by the figure of the “sedentary merchant,” who managed his business from home, using correspondence and intermediaries, in contrast to the earlier... View Details
Reinert, Sophus A., and Robert Fredona. "Merchants and the Origins of Capitalism." Chap. 11 in The Routledge Companion to the Makers of Global Business, edited by Teresa da Silva Lopes, Christina Lubinski, and Heidi J.S. Tworek. New York: Routledge, 2019.
- 2009
- Book
Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed and What to Do About It
By: Josh Lerner
In response to the financial crisis, governments are being far more aggressive in intervening to promote economic activity, a trend that shows little tendency of alleviating. This book looks at the experiences of governments in encouraging entrepreneurs and venture... View Details
Keywords: Economic Growth; Financial Crisis; Entrepreneurship; Venture Capital; Policy; Business and Government Relations
Lerner, Josh. Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed and What to Do About It. Princeton University Press, 2009. (Winner of Axiom Business Book Award. Gold Medal in Entrepreneurship presented by Jenkins Group Inc. Winner of PROSE Award for Excellence in Business, Finance & Management “For Professional and Scholarly Excellence” presented by Association of American Publishers.)
- January 2010
- Article
Buy Local? The Geography of Successful Venture Capital Expansion
By: Henry Chen, Paul A. Gompers, Anna Kovner and Josh Lerner
We document geographic concentration by both venture capital firms and venture capital-financed companies in three metropolitan areas: San Francisco, Boston, and New York. We find that venture capital firms locate in regions with high success rates of venture... View Details
Keywords: Venture Capital; Expansion; Success; Capital; Geographic Location; Business Units; Corporate Accountability; Business Offices; Goals and Objectives; Mission and Purpose; Investment Funds; Corporate Governance; Boston; New York (state, US); San Francisco
Chen, Henry, Paul A. Gompers, Anna Kovner, and Josh Lerner. "Buy Local? The Geography of Successful Venture Capital Expansion." Journal of Urban Economics 67, no. 1 (January 2010): 90–110.
- 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... View Details
- December 2015
- Article
Introduction: New Perspectives on Corporate Capital Structure
By: Viral Acharya, Heitor Almeida and Malcolm Baker
The National Bureau of Economic Research held a symposium titled "New Perspectives on Corporate Capital Structures" on April 5–6, 2013 in Cambridge, Massachusetts. In its call for the submission of theoretical and empirical papers for the symposium, the NBER noted that... View Details
Acharya, Viral, Heitor Almeida, and Malcolm Baker. "Introduction: New Perspectives on Corporate Capital Structure." Journal of Financial Economics 118, no. 3 (December 2015): 551–552.
- October 2009
- Article
Influence and Inefficiency in the Internal Capital Market
By: Julie Wulf
I model inefficient resource allocations in M-form organizations due to influence activities by division managers that skew capital budgets in their favor. Corporate headquarters receives two types of signals about investment opportunities: private signals that can be... View Details
Keywords: Capital Markets; Resource Allocation; Business Processes; Capital Budgeting; Business Headquarters; Investment; Opportunities; Cost; Value; Motivation and Incentives; Equity
Wulf, Julie. "Influence and Inefficiency in the Internal Capital Market." Journal of Economic Behavior & Organization 72, no. 1 (October 2009): 305–321.
- 2017
- Working Paper
Merchants and the Origins of Capitalism
By: Sophus A. Reinert and Robert Fredona
N.S.B. Gras, the father of Business History in the United States, argued that the era of mercantile capitalism was defined by the figure of the “sedentary merchant,” who managed his business from home, using correspondence and intermediaries, in contrast to the earlier... View Details
Reinert, Sophus A., and Robert Fredona. "Merchants and the Origins of Capitalism." Harvard Business School Working Paper, No. 18-021, September 2017. (Forthcoming in Routledge Companion to the Makers of Global Business. Edited by Teresa da Silva Lopes, Christina Lubinski, Heidi Tworek (2018).)
- February 1999 (Revised March 2004)
- Case
JAFCO America Ventures, Inc.: Building A Venture Capital Firm
By: Walter Kuemmerle, Kiichiro Kobayashi and Chad S Ellis
JAFCO, a large Japanese venture capital firm, is making a second attempt to enter the U.S. venture capital market. The U.S. subsidiary, JAFCO America Ventures, is in the midst of a challenging turnaround. Going forward, the U.S. subsidiary's leadership needs to make a... View Details
Keywords: Venture Capital; Market Entry and Exit; Multinational Firms and Management; Corporate Strategy; Financial Services Industry; Japan; United States
Kuemmerle, Walter, Kiichiro Kobayashi, and Chad S Ellis. "JAFCO America Ventures, Inc.: Building A Venture Capital Firm." Harvard Business School Case 899-099, February 1999. (Revised March 2004.)
- July 2009 (Revised July 2011)
- Technical Note
Note on Capital in the U.S. Financial Industry
By: Clayton S. Rose, Scott Waggoner and Sally Canter Ganzfried
This note was created to supplement classroom discussion in the EC course "Managing the Financial Firm" and provides background for exploring issues general managers in financial firms face in considering appropriate capital levels. View Details
Rose, Clayton S., Scott Waggoner, and Sally Canter Ganzfried. "Note on Capital in the U.S. Financial Industry." Harvard Business School Technical Note 310-005, July 2009. (Revised July 2011.)
- October 2019
- Case
Hony Capital and Jushi Group
By: Josh Lerner, Shai Bernstein and Ann Leamon
Hony Capital, a multi-billion dollar private equity firm based in China, is investing in a subsidiary of Jushi Group, a Chinese company that is one of the world's largest fiberglass producers. The specific project will build a plant in the United States. In this case,... View Details
Keywords: Real Estate; Investing; Fundraising; Manufacturing; Private Equity; Asset Management; Finance; Investment; Venture Capital; China; United States
Lerner, Josh, Shai Bernstein, and Ann Leamon. "Hony Capital and Jushi Group." Harvard Business School Case 820-040, October 2019.
- Article
Credit Access and Social Welfare: The Rise of Consumer Lending in the United States and France
By: Gunnar Trumbull
Research into the causes of the 2008 financial crisis has drawn attention to a link between growing income inequality in the United States and high household indebtedness. Most accounts trace the U.S. idea of credit-as-welfare to the period of wage stagnation and... View Details
Keywords: Household Finance; Welfare State; Credit; Personal Finance; Welfare; Borrowing and Debt; France; United States
Trumbull, Gunnar. "Credit Access and Social Welfare: The Rise of Consumer Lending in the United States and France." Politics & Society 40, no. 1 (March 2012): 9–34.
- 2012
- Casebook
Venture Capital & Private Equity: A Casebook (5th Edition)
By: Josh Lerner, Felda Hardymon and Ann Leamon
Venture Capital & Private Equity: A Casebook, 5th edition provides an understanding of the ways in which private equity groups work. The casebook builds an understanding of the key distinctions in the industry and reviews and applies key ideas of corporate finance. The... View Details
Lerner, Josh, Felda Hardymon, and Ann Leamon. Venture Capital & Private Equity: A Casebook (5th Edition). New York: John Wiley & Sons, 2012. (New York: John Wiley & Sons, 2001 (second edition) (with Felda Hardymon). Beijing: Economic Science Press, 2002 (Chinese translation of the second edition). Tokyo: Toyo Keizai Shinposha, 2003 (Japanese translation of the second edition). New York: John Wiley and Sons, 2004 (third edition) (with Felda Hardymon and Ann Leamon). New York: John Wiley & Sons, 2008 (fourth edition) (with Felda Hardymon and Ann Leamon). Beijing: CITIC Press, 2013 (Chinese translation of the fifth edition).)
- 2009
- Case
Blaine Kitchenware, Inc.: Capital Structure: Brief Case No. 4040.
By: Timothy A. Luehrman and Joel L. Heilprin
A diversified mid-sized manufacturer of kitchen tools contemplates a stock repurchase in response to an unsolicited takeover. The company must analyze its debt capacity and optimal capital structure,while considering associated changes in firm value and stock price.... View Details
- 2020
- Working Paper
How ESG Issues Become Financially Material to Corporations and Their Investors
By: George Serafeim
Management and disclosure of environmental, social and governance (ESG) issues have received substantial interest over the last decade. In this paper, we outline a framework of how ESG issues become financially material, affecting corporate profitability and valuation.... View Details
Keywords: Materiality; ESG; Pharmaceutical Companies; Business Ethics; Sustainability; Environment; Disclosure; Disclosure And Access; Regulation; Social Impact; Environmental Sustainability; Social Issues; Corporate Governance; Ethics; Corporate Disclosure; Corporate Accountability; Resource Allocation; Finance; Accounting; Valuation
Freiberg, David, Jean Rogers, and George Serafeim. "How ESG Issues Become Financially Material to Corporations and Their Investors." Harvard Business School Working Paper, No. 20-056, November 2019. (Revised November 2020.)