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  • August 2019 (Revised November 2022)
  • Case

Paradigm Capital Value Fund

By: Luis M. Viceira and Elena Corsi
Karl Jan Erick Hummel had founded Paradigm Capital Value Fund in 2007 together with Columbia Business School Professor Bruce Greenwald, an expert in value investing and now chairman of the fund. The fund followed the principles of value investing to their target... View Details
Keywords: Investment Activism; Investment Portfolio; Financial Management; Growth and Development Strategy; Investment Funds; Financial Services Industry
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Viceira, Luis M., and Elena Corsi. "Paradigm Capital Value Fund." Harvard Business School Case 220-014, August 2019. (Revised November 2022.)

    Benjamin C. Esty

    Benjamin Esty is the Roy and Elizabeth Simmons Professor of Business Administration at Harvard Business School. Over the years, he has taught a variety of courses ranging from advanced corporate finance and project finance to competitive strategy and leadership. He... View Details

    Keywords: asset management; asset management; asset management; asset management; asset management; asset management; asset management
    • 15 Jul 2019
    • Book

    Many Executives Are Afraid of Finance. Here's How They Can Gain Confidence

    what’s the best way for managers to communicate financial information to shareholders? “People who want to have advanced roles in enterprise confront financial questions more and more, and they have to be more fluent in the financial... View Details
    Keywords: by Dina Gerdeman
    • April 2023
    • Case

    Burning the Sails to Save the Ship: The Pilati Family Dilemma

    By: Lauren Cohen, Hao Gao, Jiawei Ye and Grace Headinger
    Octavian Graf Pilati, rising generation member of an Austrian princely family, prepared to sell the palace his family had held for over three hundred years. In recent years, the Pilati family lands had been leveraged as loan collateral for an international venture that... View Details
    Keywords: Family Office; Family; Plant-Based Agribusiness; Agribusiness; Family Business; Property; Identity; Culture; Ethics; Insolvency and Bankruptcy; Governance; Crisis Management; Family and Family Relationships; Agriculture and Agribusiness Industry; Real Estate Industry; Austria
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    Cohen, Lauren, Hao Gao, Jiawei Ye, and Grace Headinger. "Burning the Sails to Save the Ship: The Pilati Family Dilemma." Harvard Business School Case 223-081, April 2023.
    • October 2022
    • Case

    Star Magnolia Capital: Becoming Experts at Finding Experts

    By: Lauren Cohen, Hao Gao, River Ewing and Grace Headinger
    Shinya Deguchi, Founder and Managing Partner of Star Magnolia Capital, a Shanghai-based multi-family office (MFO), considered how to convince a new prospective family that the MFO’s endowment model approach would best suit their needs. In recent decades, there has been... View Details
    Keywords: China; Asia; Family Office; Shanghai; Financial Industry; Asset Management; Financial Instruments; Financial Management; Financial Strategy; Investment; Investment Return; Investment Portfolio; Human Capital; Family Business; Financial Services Industry; China; Shanghai
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    Cohen, Lauren, Hao Gao, River Ewing, and Grace Headinger. "Star Magnolia Capital: Becoming Experts at Finding Experts." Harvard Business School Case 223-038, October 2022.
    • September 1995 (Revised March 1997)
    • Case

    Bob Reiss and Valdawn (A): November 1994

    Bob Reiss, a seasoned entrepreneur, "accidentally" started Valdawn in 1988 and in six years built the company into a $7 million marketer of "fun and fashion" watches. Valdawn, a "virtual" company, has very few employees or fixed assets and enjoys attractive profit... View Details
    Keywords: Business or Company Management; Business Growth and Maturation; Ethics; Decision Making; Entrepreneurship; Apparel and Accessories Industry
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    Bhide, Amar. "Bob Reiss and Valdawn (A): November 1994." Harvard Business School Case 396-063, September 1995. (Revised March 1997.)
    • March 2014 (Revised May 2014)
    • Case

    China Vanke (A-1)

    By: Lynn S. Paine, John Macomber and Keith Chi-ho Wong
    As China's largest homebuilder, China Vanke Co. Ltd. (Vanke) was facing an industry downturn sparked by strong government intervention. Faced with falling prices, Vanke's president must decide whether to keep the company's pricing and product positioning intact, and... View Details
    Keywords: Real Estate; China; Green Building; Sustainable Development; Business Government Relations; Leadership; Business and Government Relations; Urban Development; Growth and Development Strategy; Safety; Real Estate Industry; China
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    Paine, Lynn S., John Macomber, and Keith Chi-ho Wong. "China Vanke (A-1)." Harvard Business School Case 314-104, March 2014. (Revised May 2014.)
    • June 2005
    • Case

    Furqan Nazeeri and the IMTrader Spin-Out

    By: Lynda M. Applegate and Brian DeLacey
    Furqan Nazeeri is looking to spin out a promising set of products and technologies from an established financial services firm. Designed as an exercise in negotiation. Includes material from the original business plan, and it is possible to simulate a negotiation... View Details
    Keywords: Business Startups; Business or Company Management; Negotiation Process; Product Development; Technology Adoption
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    Applegate, Lynda M., and Brian DeLacey. "Furqan Nazeeri and the IMTrader Spin-Out." Harvard Business School Case 805-147, June 2005.
    • January 1991 (Revised January 1993)
    • Case

    Xerox Corp.: The Customer Satisfaction Program

    In August 1990 the president and executive vice president of Xerox are reviewing the progress made on its customer satisfaction program. The emphasis placed on the program, the success of the program to date, and the drive to achieve the corporate goals of customer... View Details
    Keywords: Customer Satisfaction; Consumer Products Industry; Electronics Industry
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    Menezes, Melvyn A. "Xerox Corp.: The Customer Satisfaction Program." Harvard Business School Case 591-055, January 1991. (Revised January 1993.)
    • June 2014
    • Teaching Note

    Steve Carpenter at Cake Financial

    By: Thomas R. Eisenmann
    After investing $9 million of venture capital, Cake Financial had failed to reach critical mass. In early 2010 Cake's assets were sold and the company was dissolved. Founded in 2006, the San Francisco-based Internet company allowed users to monitor their investments... View Details
    Keywords: Corporate Entrepreneurship; Business or Company Management; Business Model; Growth and Development Strategy; Business Strategy; Internet; Financial Services Industry; Web Services Industry
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    Eisenmann, Thomas R. "Steve Carpenter at Cake Financial." Harvard Business School Teaching Note 814-121, June 2014.
    • October 2009 (Revised January 2010)
    • Case

    The University of Notre Dame Endowment

    By: Andre F. Perold and Paul Michael Buser
    The Endowment Model of Investing, which was based on creating high risk-adjusted performance through diversification, a long time horizon, top-notch outside managers, and illiquid investments, had served Notre Dame and other large universities well over the past... View Details
    Keywords: Financial Crisis; Higher Education; Asset Management; Private Equity; Financial Liquidity; Investment; Risk Management; Performance Evaluation; Education Industry; Financial Services Industry
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    Perold, Andre F., and Paul Michael Buser. "The University of Notre Dame Endowment." Harvard Business School Case 210-007, October 2009. (Revised January 2010.)
    • May 2011
    • Article

    The Hollow Science

    By: Robert S. Kaplan
    The financial meltdown made clear that the executives of many major financial institutions were operating with inadequate or distorted information about the values and risks of their firms' assets. It's fair to say that business scholars bear some... View Details
    Keywords: Accounting; Financial Crisis; Financial Management; Information; Knowledge Acquisition; Risk Management; Practice
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    Kaplan, Robert S. "The Hollow Science." Harvard Business Review 89, no. 5 (May 2011).
    • Fourth Quarter 2008
    • Article

    Do Funds-of-Funds Deserve Their Extra Fees?

    By: Andrew Ang, Matthew Rhodes-Kropf and Rui Zhao
    Since the after-fee returns of funds-of-funds are, on average, lower than hedge fund returns, it is easy to conclude that funds-of-funds do not add value compared to hedge funds. However, funds-of-funds should not be evaluated relative to hedge fund returns in publicly... View Details
    Keywords: Investment Funds; Investment Return; Value; Assets; Resource Allocation
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    Ang, Andrew, Matthew Rhodes-Kropf, and Rui Zhao. "Do Funds-of-Funds Deserve Their Extra Fees?" Journal of Investment Management 6, no. 4 (Fourth Quarter 2008).
    • 2020
    • Chapter

    Reserve Accumulation, Sovereign Debt, and Exchange Rate Policy

    By: Laura Alfaro and Fabio Kanczuk
    In the past decade, foreign participation in local-currency bond markets in emerging countries increased dramatically. Additionally, emerging countries are increasingly deviating from inflation targeting regimes, managing their exchange rate and engaging in... View Details
    Keywords: Reserves; Exchange Rate; Sovereign Finance; Currency Exchange Rate; Policy
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    Alfaro, Laura, and Fabio Kanczuk. "Reserve Accumulation, Sovereign Debt, and Exchange Rate Policy." In Asset Management at Central Banks and Monetary Authorities: New Practices in Managing International Foreign Exchange Reserves, edited by Jacob Bjorheim. Springer, 2020. (Book link.)
    • October 2012 (Revised August 2014)
    • Case

    The Canada Pension Plan Investment Board: October 2012

    By: Josh Lerner, Matthew Rhodes-Kropf and Nathaniel Burbank
    The Canada Pension Plan Investment Board (CPPIB) is one of the largest and fastest-growing pools of investment capital in the world and follows an unusually active program of investment management. In October of 2012, Mark Wiseman was just 12 weeks into his role as... View Details
    Keywords: Canada; CPPIB; Pensions; Private Equity; Financial Services Industry; Canada
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    Lerner, Josh, Matthew Rhodes-Kropf, and Nathaniel Burbank. "The Canada Pension Plan Investment Board: October 2012." Harvard Business School Case 813-103, October 2012. (Revised August 2014.)
    • 27 Jun 2019
    • News

    Long-Term Investing, Short-Term Thinking

      When the Tailwind Stops: The Private Equity Industry in the New Interest Rate Environment

      The consistent growth of long-term alternative asset managers in the past four decades coincided with the secular decline in interest rates. This has been an important tailwind for the private equity industry’s development as debt markets became increasingly... View Details

      • June 2019
      • Case

      Airbnb, Etsy, Uber: Expanding from One to Many Millions of Customers

      By: Thales S. Teixeira
      By 2019, two-sided online platforms (or marketplaces) were among the highest-growing internet startups around. These marketplaces sought to match suppliers of assets for rent, physical products, or services with customers demanding them. Among the most notable... View Details
      Keywords: Airbnb; Etsy; Uber; Growth Hacking; Two-Sided Markets; Digital Marketing; Customer Acquisition; Two-Sided Platforms; Growth Management; Marketing Strategy; Customers; Acquisition; Organizational Change and Adaptation
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      Teixeira, Thales S. "Airbnb, Etsy, Uber: Expanding from One to Many Millions of Customers." Harvard Business School Case 519-087, June 2019.
      • 2020
      • Chapter

      Climate Change Is Going to Transform Where and How We Build

      By: John D. Macomber
      As fires, floods, and droughts increasingly threaten homes, businesses, and other institutions, climate risk has become financial risk. This implies that homeowners and investors have been making location decisions without properly pricing the cost of potential peril,... View Details
      Keywords: Climate Change; Housing; Mortgages; Geographic Location; Real Estate Industry
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      Macomber, John D. "Climate Change Is Going to Transform Where and How We Build." In Climate Change: The Insights You Need from Harvard Business Review. Vol. 12. HBR Insights Series. Boston, MA: Harvard Business Review Press, 2020.
      • July 2020
      • Case

      Sesame Workshop (C): Mission Critical Responses to Global and National Crises

      By: Rosabeth Moss Kanter and Joyce J. Kim
      Beginning in March 2020, Sesame Workshop navigated a global pandemic and racial justice crisis, which caused unemployment, business shutdowns, school closures, and remote work. The CEO and team responded with new partnership using its assets and reinforcing its... View Details
      Keywords: Health Pandemics; Social Issues; Crisis Management; Global Range; Mission and Purpose; Education; Education Industry; Media and Broadcasting Industry
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      Kanter, Rosabeth Moss, and Joyce J. Kim. "Sesame Workshop (C): Mission Critical Responses to Global and National Crises." Harvard Business School Case 321-016, July 2020.
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