Publications

March 2022 (Revised April 2022)
Case

MTN: Unlocking Value While Driving Socioeconomic Progress

By: Benjamin C. Esty, Pippa Tubman Armerding and Dilyana Karadzhova Botha

On March 10, 2021, Ralph Mupita the new CEO of MTN Group, Africa's largest telecommunications company, presented the group’s 2020 annual results and unveiled a new strategy to “drive growth and unlock value.” Despite MTN’s leadership in most of its markets, the... View Details

Keywords: Decision Making; Goals and Objectives; Valuation; Emerging Markets; Business Strategy; Financial Management; Information Technology; Corporate Finance; Telecommunications Industry; Africa; South Africa; Ghana; Nigeria

08 Apr 2008
First Look

First Look: April 8, 2008

describes how they assessed their valuations and probabilistic views, and leaves them with a key decision. The (B) case describes their choice as well as the twists and turns leading to the conclusion. Purchase this case:... View Details

Keywords: Martha Lagace

18 Oct 2004
Research & Ideas

The Bias of Wall Street Analysts

away from objective valuations and recommendations; in place of these efforts, analysts may be mechanically issuing optimistic recommendations for all firms to curry favor with managers. The dynamics of this game between managers,... View Details

Keywords: by Ann Cullen; Financial Services

04 Jan 2012
First Look

First Look: January 4

changing circumstances, both within and outside of the gaming context. Market Interest in Nonfinancial Information Authors:R. G. Eccles, Michael P. Krzus, and George Serafeim Publication:Journal of Applied Corporate Finance 23, no. 4... View Details

Keywords: Carmen Nobel

24 May 2011
First Look

First Look: May 24

The prizes encouraged competition and medals were particularly effective. The boost to innovation we observe can only be partly explained by the re-direction of existing inventive activity. Download the paper: http://www.hbs.edu/research/pdf/11-118.pdf The... View Details

Keywords: Sean Silverthorne

February 2009 (Revised June 2010)
Background Note

Note on Measuring Controlling Shareholder's Ownership, Voting, and Control Rights

Founders and their families can raise equity without relinquishing control of their companies through the use of mechanisms such as dual-class stock, pyramidal ownership, voting agreements, and disproportionate board representation. The use of these mechanisms in... View Details

Keywords: Equity; Corporate Governance; Governing and Advisory Boards; Measurement and Metrics; Ownership Stake; Business and Shareholder Relations; Valuation

18 Sep 2007
First Look

First Look: September 18, 2007

http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=507050 E.ON Corporate Strategy Harvard Business School Case 706-015 Examines the corporate strategy of German energy giant E.ON. The firm is... View Details

Keywords: Martha Lagace

21 Feb 2012
First Look

First Look: Feb. 21

corporate archives to explore the fine details of how firms actually operated. It also includes work by those who have been influenced by evolutionary, transaction cost, and resource-based theories of the firm. The book will be an... View Details

Keywords: Sean Silverthorne

11 Dec 2007
First Look

First Look: December 11, 2007

perceived as value-destroying and may not improve a firm's competitive advantage. Bank Debt and Corporate Governance Authors:Victoria Ivashina, Vinay Nair, Anthony Saunders, Nadia Massoud, and Roger Stover Periodical:Review of Financial... View Details

Keywords: Martha Lagace

April 2001 (Revised July 2001)
Case

Zaplet, Inc.

By: Dorothy A. Leonard and Brian DeLacey

Start-up Zaplet, Inc., has radical software, prestigious venture capital funding, and a multitude of business opportunities. New CEO Alan Baratz must select a strategy and redesign the organization to deliver. This case describes the roles and philosophies of the... View Details

Keywords: Corporate Entrepreneurship; Business or Company Management; Information Technology; Organizational Design; Venture Capital; Valuation; Business Strategy; Restructuring; Expansion; Product Development; Innovation Strategy; Human Resources; Information Technology Industry; California

01 Nov 2011
First Look

First Look: Nov. 1

Business Review 89, no. 11 (November 2011). Abstract Corporate leaders have long subscribed to the belief that the sole purpose of business is to make money. That narrow view, deeply embedded in the American capitalist system, molds the... View Details

Keywords: Sean Silverthorne

January 2025
Case

Negotiating a Legacy at Sustainable Harvest (A)

By: Jillian Jordan, Julian Zlatev, Alicia Dadlani and Martha Hostetter

The specialty coffee importer Sustainable Harvest was the first certified B Corp in the coffee industry due to its investments in building coffee farmers’ capacity and livelihood. But in 2022, after coffee prices plummeted and the company’s bank declined to extend its... View Details

Keywords: Negotiation; Mergers and Acquisitions; Trust; Ethics; Plant-Based Agribusiness; Volatility; Futures and Commodity Futures; Social Enterprise; Valuation; Business Model; Credit; Corporate Social Responsibility and Impact; Food and Beverage Industry; United States; Europe

11 Aug 2009
First Look

First Look: August 11, 2009

delayed price discovery). This isolates a setting wherein observed strategic trading behavior more likely reflects insiders' private information regarding goodwill, as opposed to other (non-goodwill related) economic performance. Overall, the results are consistent... View Details

Keywords: Martha Lagace

January 2025
Supplement

Negotiating a Legacy at Sustainable Harvest (B)

By: Jillian Jordan, Julian Zlatev, Alicia Dadlani and Martha Hostetter

The specialty coffee importer Sustainable Harvest was the first certified B Corp in the coffee industry due to its investments in building coffee farmers’ capacity and livelihood. But in 2022, after coffee prices plummeted and the company’s bank declined to extend its... View Details

Keywords: Negotiation; Mergers and Acquisitions; Trust; Ethics; Plant-Based Agribusiness; Volatility; Futures and Commodity Futures; Social Enterprise; Valuation; Business Model; Credit; Corporate Social Responsibility and Impact; Food and Beverage Industry; United States; Europe

08 Jul 2008
First Look

First Look: July 8, 2008

resource pools, increased corporate operational dependence on IT, and enhanced application opportunities have combined to drive this topic much higher on many companies' agendas. Different companies are impacted in different ways.... View Details

Keywords: Martha Lagace

July 1984 (Revised September 1986)
Case

CML Group, Inc.: Going Public (A)

By: William A. Sahlman

Describes a series of decisions confronting Charles Leighton, co-founder and chairman of the CML Group. CML is a successful participant in the leisure time industry with two lines of business: specialty retailing and recreational consumer products. The key issues in... View Details

Keywords: Valuation; Going Public; Strategy; Business or Company Management; Cost vs Benefits; SWOT Analysis; Investment Banking; Financing and Loans; Planning; Corporate Finance; Retail Industry; Consumer Products Industry