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- All HBS Web
(1,601)
- People (1)
- News (247)
- Research (1,156)
- Events (1)
- Multimedia (14)
- Faculty Publications (851)
- March 1984 (Revised June 1998)
- Case
MCI Communications Corp.--1983
MCI Communications Corp. is faced with a large need for external financing to support rapid growth and substantial uncertainty due to the AT&T antitrust settlement. The case illustrates the value of convertible debt as a financing instrument in these circumstances. View Details
Keywords: Growth Management; Emerging Markets; Financing and Loans; Telecommunications Industry; United States
Greenwald, Bruce C. "MCI Communications Corp.--1983." Harvard Business School Case 284-057, March 1984. (Revised June 1998.)
- 25 Jul 2011
- News
Five Tips for Coping with Uncertainty — and Finding Opportunity
- 2008
- Working Paper
Liquidity Needs in Economies with Interconnected Financial Obligations
By: Julio J. Rotemberg
A model is developed where firms in a financial system have to settle their debts to each other by using a liquid asset. The question that is studied is how many firms must obtain how much of this asset from outside the financial system to make sure that all debts... View Details
Rotemberg, Julio J. "Liquidity Needs in Economies with Interconnected Financial Obligations." NBER Working Paper Series, No. 14222, August 2008.
- November 2011
- Case
Pacific Grove Spice Company
By: William E. Fruhan and Craig Stephenson
Pacific Grove Spice Company is a profitable, rapidly growing manufacturer, marketer, and distributor of quality spices and seasonings. The company's business model requires significant investment in accounts receivable, inventory, and fixed assets to support sales.... View Details
Keywords: Capital Expenditures; Investments; Acquisitions; Securities Analysis; Debt Securities; Opportunities; Cost of Capital; Valuation; Investment; Capital Budgeting; Business Model; Cash Flow; Financing and Loans; Acquisition; Retail Industry; Food and Beverage Industry
Fruhan, William E., and Craig Stephenson. "Pacific Grove Spice Company." Harvard Business School Brief Case 114-366, November 2011.
- 2010
- Other Unpublished Work
International Capital Allocation, Sovereign Borrowing, and Growth
By: Laura Alfaro, Sebnem Kalemli-Ozcan and Vadym Volosovych
The key in the investigation of "where" and "why" capital flows, relative to the neoclassical benchmark, is how we measure these flows. The macro literature has been using three main yardsticks: the current account balance, returns to capital, and the volume of net... View Details
- July 2021
- Article
Multinationality and Capital Structure Dynamics: A Corporate Governance Explanation
By: Daniel Gyimah, Nana Abena Kwansa, Anthony K. Kyiu and Anywhere Sikochi
This paper examines the impact of corporate governance on capital structure dynamics. Using ordinary least squares regressions on 17,496 firm-year observations for 2,294 U.S. multinational companies (MNCs) over the period 1990–2018, we find that MNCs with strong... View Details
Keywords: Multinationality; Speed Of Adjustment; Corporate Governance; Multinational Firms and Management; Capital Structure
Gyimah, Daniel, Nana Abena Kwansa, Anthony K. Kyiu, and Anywhere Sikochi. "Multinationality and Capital Structure Dynamics: A Corporate Governance Explanation." Art. 101758. International Review of Financial Analysis 76 (July 2021).
- June 2005 (Revised May 2008)
- Case
Yamanote Kaikan
By: Robin Greenwood, Arthur I Segel and Joshua Katzin
In 2001, James O'Connell, president of Holyoke Japan, an affiliate of Larson Capital, a distress debt private equity firm, wants to bid on a 90 billion yen loan currently in default by the borrower, Sanjo Enterprises, for a popular wedding and banquet facility with an... View Details
Greenwood, Robin, Arthur I Segel, and Joshua Katzin. "Yamanote Kaikan." Harvard Business School Case 205-084, June 2005. (Revised May 2008.)
- April 2021 (Revised August 2024)
- Case
The Turnaround at Ford Motor Company
By: Amy C. Edmondson and Olivia Jung
This case describes the corporate turnaround of the Ford Motor Company under the charismatic leadership of Alan Mulally. Ford was in deep trouble in the early 2000s as its prices and debt ratings plummeted and employee morale suffered. In 2006, the company anticipated... View Details
Keywords: Turnaround; Transformation; Restructuring; Organizational Culture; Leading Change; Performance Improvement; Auto Industry; North America
Edmondson, Amy C., and Olivia Jung. "The Turnaround at Ford Motor Company." Harvard Business School Case 621-101, April 2021. (Revised August 2024.)
- March 2007 (Revised December 2007)
- Supplement
Parmalat Uruguay (B)
By: Paul W. Marshall and Gustavo A. Herrero
Three young MBAs create a partnership to acquire the assets of Parmalat in Uruguay. Focuses on their analysis prior to submitting a bid and their plan for improving the operations once their bid is accepted. In addition to improving operations, they must negotiate with... View Details
Keywords: Mergers and Acquisitions; Partners and Partnerships; Bids and Bidding; Borrowing and Debt; Performance Improvement; Planning; Uruguay
Marshall, Paul W., and Gustavo A. Herrero. "Parmalat Uruguay (B)." Harvard Business School Supplement 807-119, March 2007. (Revised December 2007.)
- 2010
- Working Paper
International Capital Allocation, Sovereign Borrowing, and Growth
By: Laura Alfaro, Sebnem Kalemli-Ozcan and Vadym Volosovych
The key in the investigation of "where" and "why" capital flows, relative to the neoclassical benchmark, is how we measure these flows. The macro literature has been using three main yardsticks: the current account balance, returns to capital, and the volume of net... View Details
Alfaro, Laura, Sebnem Kalemli-Ozcan, and Vadym Volosovych. "International Capital Allocation, Sovereign Borrowing, and Growth." NBER Working Paper Series, No. w17396.
- September 1998 (Revised March 2002)
- Case
Petrolera Zuata, Petrozuata C.A.
By: Benjamin C. Esty and Mathew M Millett
Petrozuata is a proposed $2.5 billion oil-field development project in Venezuela. The case is set in 1997 as the project sponsors, Conoco and PDVSA (Venezuela's national oil company), are planning to meet with various development agencies and rating agencies regarding... View Details
Keywords: Risk Management; Valuation; Project Finance; Capital Markets; Investment; Projects; Mining Industry; Energy Industry; Venezuela
Esty, Benjamin C., and Mathew M Millett. "Petrolera Zuata, Petrozuata C.A." Harvard Business School Case 299-012, September 1998. (Revised March 2002.)
- December 2017 (Revised November 2018)
- Case
Tesla Motors (B): Merging with SolarCity
By: Stuart C. Gilson and Sarah L. Abbott
In 2016, electric car manufacturer Tesla announced that it was making an offer to acquire solar panel manufacturer SolarCity in an all-stock offer worth $2.6 billion in Tesla stock. Tesla’s co-founder and CEO, Elon Musk, believed that the merger would generate... View Details
Keywords: M＆A; M＆A Valuation; Investing; Equities; Equity; Valuation; Mergers and Acquisitions; Auto Industry; Energy Industry; United States
Gilson, Stuart C., and Sarah L. Abbott. "Tesla: Merging with SolarCity." Harvard Business School Case 218-038, December 2017. (Revised November 2018.)
- 10 Feb 2013
- News
The Dice Are Rolling on Dell’s Legacy
- December 2020 (Revised September 2023)
- Case
PG&E and the First Climate Change Bankruptcy
By: Stuart C. Gilson and Sarah L. Abbott
In early 2020, the California-based utility PG&E filed a second amended plan of reorganization. PG&E had filed for Chapter 11 bankruptcy in the face of more than $30 billion of legal claims brought against it for its alleged role in causing California wildfires. The... View Details
Keywords: Chapter 11; Utilities; Liabilities; Restructuring; Insolvency and Bankruptcy; Debt Securities; Legal Liability; Climate Change; Utilities Industry; United States
Gilson, Stuart C., and Sarah L. Abbott. "PG&E and the First Climate Change Bankruptcy." Harvard Business School Case 221-057, December 2020. (Revised September 2023.)
- February 1986 (Revised March 1989)
- Background Note
Note on Foreign Exchange
Describes the operation of foreign exchange markets, including bid-offer spreads, cross rates, reciprocal rates, and forward rates. Provides several examples to demonstrate calculation of outright forward rates using discount and premium points quoted in the London... View Details
Mason, Scott P. "Note on Foreign Exchange." Harvard Business School Background Note 286-067, February 1986. (Revised March 1989.)
- 2015
- Working Paper
On the Increasing Centralization of US Money and Credit
By: Amar Bhidé
My current work on the debt market liquidity (Bhidé 2015) and antecedent book (Bhidé 2010) critiques the de facto centralization of credit extension in the U.S. This essay examines how the increased centralization of credit maps into a decline in the decentralized... View Details
Bhidé, Amar. "On the Increasing Centralization of US Money and Credit." Harvard Business School Working Paper, No. 21-022, June 2015.
- 12 Jun 2019
- News
Busy IPO Market Offers Lifeline to Troubled Retailers
- October 2023
- Case
Leading Transformation at IHCL
By: Krishna G. Palepu, V.G. Narayanan and Malini Sen
In November 2017, Puneet Chhatwal, took charge as MD and CEO of IHCL, popularly referred to as the Taj Hotels. Despite being India’s largest hospitality company by market capitalization and respected for its values and service, IHCL had made losses for the last seven... View Details
Keywords: Turn Around Management; Hospitality Industry; Brand Management; Financial Strategy; Business Model; Restructuring; Asset Management; Leadership Style; Crisis Management; Brands and Branding; Product Positioning; Segmentation; Asia; India
Palepu, Krishna G., V.G. Narayanan, and Malini Sen. "Leading Transformation at IHCL." Harvard Business School Case 124-041, October 2023.
- July 2003 (Revised January 2004)
- Case
Swedish Lottery Bonds
Profiling nonsystematic risk for a bond investor, the case describes lottery bond issues by the Swedish National Debt Office (SNDO). Swedish lottery bonds are a specific type of financial fixed income instrument for Swedish retail investors. The distinctive feature of... View Details
Keywords: Bonds; Business and Government Relations; Public Administration Industry; Retail Industry; Sweden
Chacko, George C., Peter A. Hecht, Vincent Dessain, and Anders Sjoman. "Swedish Lottery Bonds." Harvard Business School Case 204-048, July 2003. (Revised January 2004.)
- February 1985 (Revised August 2008)
- Case
Arrow Electronics
Arrow Electronics is the fastest growing distributor of electronic components in North America and the second largest. Its capital structure policy of heavy reliance on debt financing contrasts sharply with that of its leading competitor, Arnet. Students are asked to... View Details
Keywords: Borrowing and Debt; Capital Structure; Financial Management; Risk Management; Distribution; Competition; Hardware; Electronics Industry; United States
El-Hage, Nabil N., and Robert R. Glauber. "Arrow Electronics." Harvard Business School Case 285-114, February 1985. (Revised August 2008.)