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(1,179)
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- Faculty Publications (487)
Show Results For
-
All HBS Web
(1,179)
- News (199)
- Research (775)
- Events (3)
- Multimedia (3)
- Faculty Publications (487)
- October 2013
- Article
Corporate Venturing
By: Josh Lerner
For decades, large companies have been wary of corporate venturing. But as R&D organizations face pressure to rein in costs and produce results, companies are investing in promising start-ups to gain knowledge and agility. The logic of corporate venturing is...
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Keywords:
Venture Capital;
Knowledge Acquisition;
Corporate Strategy;
Research and Development;
Business Startups;
Innovation and Invention
Lerner, Josh. "Corporate Venturing." Harvard Business Review 91, no. 10 (October 2013): 86–94.
- Article
Reaching for Yield in the Bond Market
By: Bo Becker and Victoria Ivashina
Reaching for yield—the propensity to buy riskier assets in order to achieve higher yields—is believed to be an important factor contributing to the credit cycle. This paper analyzes this phenomenon in the corporate bond market. Specifically, we show evidence for...
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Keywords:
Fixed Income;
Reaching For Yield;
Financial Intermediation;
Insurance Companies;
Insurance;
Assets;
Bonds;
Investment Return;
Investment Portfolio;
Risk Management;
Insurance Industry
Becker, Bo, and Victoria Ivashina. "Reaching for Yield in the Bond Market." Journal of Finance 70, no. 5 (October 2015): 1863–1902.
- May 2006 (Revised June 2006)
- Case
Codon Devices
By: Joseph B. Lassiter III and David Kiron
In December 2005, 40-year-old John Danner was about to make his first presentation to the board of directors of Codon Devices, a one-year-old biotechnology start-up based in Cambridge, Massachusetts. After a month as the company's CEO, Danner was prepared to lay out...
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Keywords:
Strategic Planning;
Venture Capital;
Intellectual Property;
Governing and Advisory Boards;
Genetics;
Competitive Advantage;
Science-Based Business;
Business Startups;
Growth and Development Strategy;
Biotechnology Industry;
Cambridge
Lassiter, Joseph B., III, and David Kiron. "Codon Devices." Harvard Business School Case 806-198, May 2006. (Revised June 2006.)
- Career Coach
Phil Wong
operational foundation for running healthcare practices. Prior to pivoting into healthcare, Phil was a portfolio manager at a fund of hedge funds managing $1Bn+ on behalf of pension plans and insurance companies. His View Details
- September 2011 (Revised March 2012)
- Case
KKR: Leveraging Sustainability
The case describes KKR's Green Portfolio Program, one of the firm's environmental initiatives, which has achieved $160 million in cost savings. While pleased with its progress in achieving greater energy efficiency and reduced carbon emissions, the firm is looking for...
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Keywords:
Private Equity;
Investment Portfolio;
Energy Conservation;
Cost Management;
Supply Chain Management;
Risk Management;
Social Enterprise;
Growth and Development;
Performance Efficiency;
Financial Services Industry
Eccles, Robert G., George Serafeim, and Tiffany A. Clay. "KKR: Leveraging Sustainability." Harvard Business School Case 112-032, September 2011. (Revised March 2012.)
- 2021
- Working Paper
Once Bitten, Twice Shy: Learning from Corporate Fraud and Corporate Governance Spillovers
By: Trung Nguyen
This paper finds that investors learn from their experience with corporate fraud and financial misconduct and modify their investment behavior to avoid suspicious firms and increase corporate governance efforts. More specially, mutual funds that experienced corporate...
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Keywords:
Institutional Investors;
Investor Experience;
Shareholder Voting;
Corporate Fraud;
Corporate Governance;
Institutional Investing;
Behavior;
Change;
Learning
Nguyen, Trung. "Once Bitten, Twice Shy: Learning from Corporate Fraud and Corporate Governance Spillovers." Harvard Business School Working Paper, No. 21-135, June 2021.
- 30 Jul 2008
- Op-Ed
Why the U.S. Should Encourage FDI
as a portfolio investor. In the absence of a unique capability that is a source of value-added expertise on some dimension, making money on direct investing is very difficult. In a relatively unfettered...
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Keywords:
by Mihir A. Desai
- August 2005 (Revised April 2014)
- Teaching Note
Innocents Abroad: Currencies and International Stock Returns
By: Mihir A. Desai, Kathleen Luchs, Elizabeth A. Meyer and Mark Veblen
What do international stocks contribute to the portfolio of a U.S. investor? How do currencies interact with stock price movements in determining the benefits of international diversification? This case helps students compare the risks and returns of foreign stock...
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Keywords:
Diversification;
International CAPM;
CAPM;
Home Bias;
Currency Risk;
Exchange Rate Risk;
International Stock Market Returns;
Financial Services Industry;
United States;
Currency Exchange Rate;
Stocks;
Financial Markets;
International Finance;
Investment Return;
Currency;
Risk and Uncertainty;
Emerging Markets;
Investment Portfolio;
United States;
Australia;
Canada;
China;
Germany;
India;
Japan;
United Kingdom
- 29 Oct 2018
- Working Paper Summaries
Public Sentiment and the Price of Corporate Sustainability
Keywords:
by George Serafeim
- October 1997 (Revised March 1998)
- Case
Komatsu Ltd.: Project G's Globalization
This case describes the major strategic and organizational transformation at Komatsu aimed at changing it from a Japan-based producer of construction equipment to a truly global company with the ability to leverage its groupwide portfolio of resources and capabilities...
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Keywords:
Change Management;
Construction;
Asset Pricing;
Investment Portfolio;
Global Strategy;
Leadership;
Resource Allocation;
Risk Management;
Expansion;
Manufacturing Industry;
Japan
Bartlett, Christopher A. "Komatsu Ltd.: Project G's Globalization." Harvard Business School Case 398-016, October 1997. (Revised March 1998.)
- August 2021
- Article
Don't Take Their Word for It: The Misclassification of Bond Mutual Funds
By: Huaizhi Chen, Lauren Cohen and Umit Gurun
We provide evidence that bond fund managers misclassify their holdings, and that these misclassifications have a real and significant impact on investor capital flows. In particular, many funds report more investment grade assets than are actually held in their...
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Keywords:
Mutual Funds;
Economics;
Finance;
Measurement and Metrics;
Risk and Uncertainty;
Financial Services Industry
Chen, Huaizhi, Lauren Cohen, and Umit Gurun. "Don't Take Their Word for It: The Misclassification of Bond Mutual Funds." Journal of Finance 76, no. 4 (August 2021): 1699–1730. (Winner of the Best Paper Prize at the University of Cambridge Consortium on Asset Management, 2020; Winner of the Financial Management Association Best Paper Prize in Quantitative Investments, 2020.)
- August 2011 (Revised October 2011)
- Case
PureTech Ventures in 2011
By: Andrei Hagiu, Cesar Castro and Sarah Murphy
In early May 2011, Daphne Zohar, founder and managing partner of PureTech Ventures, a life science venture creation company in Boston, MA, was reviewing a term sheet she had just received from a venture capital (VC) firm for one of PureTech's portfolio companies. The...
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Keywords:
Business Ventures;
Business Startups;
Venture Capital;
Investment;
Innovation and Invention;
Negotiation;
Partners and Partnerships;
Science-Based Business;
Opportunities;
Boston
Hagiu, Andrei, Cesar Castro, and Sarah Murphy. "PureTech Ventures in 2011." Harvard Business School Case 712-419, August 2011. (Revised October 2011.)
- 12 Oct 2017
- HBS Seminar
Benjamin Marx, MIT
- 2014
- Working Paper
Private Equity's Diversification Illusion: Economic Comovement and Fair Value Reporting
By: Kyle Travis Welch
This study examines how accounting has informed private equity diversification claims and demand for private equity investments. Despite research showing private equity lacks portfolio diversification benefits, those marketing private equity assets continue to...
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Keywords:
Fair Value;
Access To Capital;
IAS 39;
FAS No. 157;
FASB;
IASB;
ASC 820;
Covariance Risk;
Accounting Beta;
Accounting;
Private Sector;
Valuation;
Corporate Finance;
Asset Management;
Cost of Capital;
Private Equity;
Accounting Industry;
Financial Services Industry;
Europe;
North and Central America
Welch, Kyle Travis. "Private Equity's Diversification Illusion: Economic Comovement and Fair Value Reporting." Working Paper, January 2014.
- 29 Jul 2010
- News
Lifetime Achievement in Venture Capital Award
- Career Coach
Jonathan Shepherd
Jonathan is CPD's Corporate Relations Director overseeing principal investing: VC/PE, investment management and real estate. Since 2007, he has coached thousands of students & alumni and forged recruiting relationships with hundreds...
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Keywords:
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing;
Angel Investing
- December 2020
- Article
Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy
By: Wenxin Du, Carolin Pflueger and Jesse Schreger
We document that governments whose local currency debt provides them with greater hedging benefits actually borrow more in foreign currency. We introduce two features into a government's debt portfolio choice problem to explain this finding: risk-averse lenders and...
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Du, Wenxin, Carolin Pflueger, and Jesse Schreger. "Sovereign Debt Portfolios, Bond Risks, and the Credibility of Monetary Policy." Journal of Finance 75, no. 6 (December 2020): 3097–3138.
Enabling Mission Impact: Funding Strategies for High-Risk High-Reward Innovation
Governments and foundations around the world are urgently seeking strategies to optimize their investments across a range of distinctive missions targeted towards societal challenges. How should such investments be made, from early R&D spending to later-stage...
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- September 2011 (Revised July 2012)
- Case
Khosla Ventures: Biofuels Gain Liquidity
By: Joseph B. Lassiter III, William A. Sahlman, Alison Berkley Wagonfeld and Evan Richardson
Samir Kaul, a Partner at Khosla Ventures, looked out his office window. It was late June, 2011, and like almost every day in Menlo Park, the sun was shining. Kaul was reflecting on what had been a very positive 10 months in the venture capital business. Over that span,...
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Keywords:
Venture Capital;
Financial Strategy;
Business or Company Management;
Partners and Partnerships;
Product Development;
Investment Portfolio;
Financial Services Industry
Lassiter, Joseph B., III, William A. Sahlman, Alison Berkley Wagonfeld, and Evan Richardson. "Khosla Ventures: Biofuels Gain Liquidity." Harvard Business School Case 812-035, September 2011. (Revised July 2012.)
- 2012
- Article
The Excess Burden of Government Indecision
By: Francisco J. Gomes, Laurence J. Kotlikoff and Luis M. Viceira
Governments are known for procrastinating when it comes to resolving painful policy problems. Whatever the political motives for waiting to decide, procrastination distorts economic decisions relative to what would arise with early policy resolution. In so doing, it...
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Keywords:
Saving;
Risk and Uncertainty;
Investment Portfolio;
Decision Choices and Conditions;
Retirement;
Policy;
Government and Politics
Gomes, Francisco J., Laurence J. Kotlikoff, and Luis M. Viceira. "The Excess Burden of Government Indecision." Tax Policy and the Economy 26 (2012): 125–163.