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(1,522)
- News (103)
- Research (1,301)
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- Faculty Publications (1,124)
Show Results For
- All HBS Web
(1,522)
- News (103)
- Research (1,301)
- Events (3)
- Multimedia (6)
- Faculty Publications (1,124)
- Research Summary
Overview
My focus is empirical financial accounting research, with particular interests in governance, valuation, M&A, and short-sellers. All three of my papers to date fall under the broad heading of “alternative governance mechanisms”—studies of how accounting information is... View Details
- Research Summary
Overview
My focus is empirical financial accounting research, with particular interests in governance, valuation, M&A, and short-sellers. All three of my papers to date fall under the broad heading of “alternative governance mechanisms”—studies of how accounting information is... View Details
- December 2017 (Revised January 2018)
- Teaching Note
Bega Cheese: Bidding to Bring Vegemite Back Home
By: Benjamin C. Esty, Lauren G. Pickle and Greg Saldutte
In January 2017, the leadership team of Bega Cheese—the Australian dairy company—was considering a bid for Mondelēz International’s Australia and New Zealand (ANZ) grocery business which included several leading consumer brands such as Vegemite, the iconic Australian... View Details
Keywords: Mergers ＆ Acquisitions; Value Drivers; Discounted Cash Flow (DCF); Dairy Industry; Corporate Scope; Diversification; Consumer Goods; Iconic Brands; Australia; Corporate Finance; Bidding Strategy; Cross Border; Financing; Mergers and Acquisitions; Valuation; Value Creation; Business Divisions; Capital Structure; Food; Bids and Bidding; Consumer Products Industry; Food and Beverage Industry; Australia; United States
Ivashina, Victoria, Alexey Tuzikov, and Abhijit Tagade. "Valuation Techniques in Private Equity: LBO Model." Harvard Business School Background Note 218-106, June 2018.
- 2025
- Working Paper
Is Love Blind? AI-Powered Trading with Emotional Dividends
By: De-Rong Kong and Daniel Rabetti
We leverage the non-fungible tokens (NFTs) setting to assess the valuation of emotional dividends (LOVE), a long-standing empirical challenge in private-value markets such as art, antiques, and collectibles. Having created and validated our proxy, we use deep learning... View Details
Kong, De-Rong, and Daniel Rabetti. "Is Love Blind? AI-Powered Trading with Emotional Dividends." Working Paper, February 2025.
- November 2013
- Case
Larry Steffen: Valuing Stock Options in a Compensation Package
By: William E. Fruhan and Craig Stephenson
New MBA graduate Larry Steffen has accepted an attractive job offer from Athena Global Technology but must now choose one of two alternative compensation plans. The first compensation plan option includes a base salary plus a $25,000 cash bonus, and the second includes... View Details
Fruhan, William E., and Craig Stephenson. "Larry Steffen: Valuing Stock Options in a Compensation Package." Harvard Business School Brief Case 914-517, November 2013.
- October 2022
- Exercise
Shanty Real Estate: Updated Confidential Information for iBuyer
By: Michael Luca, Jesse M. Shapiro and Nathan Sun
Shanty is a simulation in which students inhabit the role of either a traditional home buyer or an iBuyer, both bidding on the same condo. The traditional home buyer has access to a “comp sheet” of similar properties that have recently sold, and has done a walkthrough.... View Details
Keywords: Algorithm; Decision Choices and Conditions; Measurement and Metrics; Market Timing; Decision Making
Luca, Michael, Jesse M. Shapiro, and Nathan Sun. "Shanty Real Estate: Updated Confidential Information for iBuyer." Harvard Business School Exercise 923-023, October 2022.
- 10 Jan 2020
- News
Competing in the Age of AI
- November 2019 (Revised May 2020)
- Case
Collibra
By: Lynda M. Applegate, Jeffrey F. Rayport and Julia Kelley
Founded in 2008 at Vrije Universiteit Brussels, Collibra was a data intelligence company that found product-market fit in the years after the global financial crisis when many companies were under pressure from consumers and governments to improve their data management... View Details
Keywords: Entrepreneurship; Governance; Innovation and Invention; Technological Innovation; Markets; Information Technology; Applications and Software; Technology Adoption; Digital Platforms; Internet and the Web; Customer Focus and Relationships; Customer Satisfaction; Expansion; Information Technology Industry; Technology Industry; Europe; Belgium; Brussels; North and Central America; United States; New York (city, NY); New York (state, US)
Applegate, Lynda M., Jeffrey F. Rayport, and Julia Kelley. "Collibra." Harvard Business School Case 820-013, November 2019. (Revised May 2020.)
- January 2019 (Revised February 2024)
- Teaching Note
Hubble Contact Lenses: Data Driven Direct-to-Consumer Marketing
By: Ayelet Israeli
Teaching Note for HBS No. 519-011. As its Series A extension round approaches, the founders of Hubble, a subscription-based, social-media fueled, direct-to-consumer (DTC) brand of contact lenses, are reflecting on the marketing strategies that have taken them to a... View Details
Keywords: DTC; Direct To Consumer Marketing; Health Care; Mobile; Attribution; Experimentation; Experiments; Churn/retention; Customer Lifetime Value; Internet Marketing; Big Data; Analytics; A/B Testing; CRM; Advertising; Marketing; Marketing Channels; Marketing Strategy; Media; Brands and Branding; Marketing Communications; Digital Marketing; Acquisition; Growth and Development Strategy; Customer Focus and Relationships; Consumer Behavior; Social Media; E-commerce
- April 2023 (Revised July 2023)
- Case
Fermenting Accounting Problems at Vermont Kombucha Corp.
By: Tatiana Sandino and Marshal Herrmann
Founded in 2005, Vermont Kombucha Corp. (V-Ko) was an early mover in the fledgling U.S. market for kombucha, a drink brewed for its health benefits. Early on, the company captured more than 90% of market share. Under the leadership of its founder and CEO, Joe Williams,... View Details
Keywords: Going Public; Business Model; Financial Reporting; Ethics; Corporate Governance; Stock Shares; Food and Beverage Industry
Sandino, Tatiana, and Marshal Herrmann. "Fermenting Accounting Problems at Vermont Kombucha Corp." Harvard Business School Case 123-064, April 2023. (Revised July 2023.)
- October 2022
- Exercise
Shanty Real Estate: Updated Confidential Information for Homebuyer
By: Michael Luca, Jesse M. Shapiro and Nathan Sun
Shanty is a simulation in which students inhabit the role of either a traditional home buyer or an iBuyer, both bidding on the same condo. The traditional home buyer has access to a “comp sheet” of similar properties that have recently sold, and has done a walkthrough.... View Details
Keywords: Algorithm; Decision Choices and Conditions; Decision Making; Market Timing; Measurement and Metrics
Luca, Michael, Jesse M. Shapiro, and Nathan Sun. "Shanty Real Estate: Updated Confidential Information for Homebuyer." Harvard Business School Exercise 923-022, October 2022.
- April 2018
- Teaching Note
Formlabs: Selling a New 3D Printer
By: Frank Cespedes
Teaching Note for HBS No. 817-001. Formlabs is a venture that manufactures and sells 3D printers used in a variety of industries and applications. As the young company prepares to ship its latest model, the head of Customer Development is tasked with developing a... View Details
Keywords: 3D Printing And Manufacturing; Sales Channel Development; Sales Strategy; Entrepreneurial Management; Product Engineering; Prototype; Prototyping; Entrepreneurship; Product Launch; Information Infrastructure; Business Startups; Customers; Technological Innovation; Growth and Development Strategy; Technology Adoption; Marketing Channels; Marketing Strategy; Product Positioning; Demand and Consumers; Sales; Salesforce Management; Technology Industry; Computer Industry; Manufacturing Industry; United States; Massachusetts; Europe; Asia
- February 2017
- Article
The Throne vs. the Kingdom: Founder Control and Value Creation in Startups
By: Noam Wasserman
Does the degree to which founders keep control of their startups affect company value? I argue that founders face a "control dilemma" in which a startup's resource dependence drives a wedge between the startup's value and the founder's ability to retain control of... View Details
Keywords: Founders; Entrepreneurial Management; Value Creation; Governing and Advisory Boards; Entrepreneurship; Business Startups
Wasserman, Noam. "The Throne vs. the Kingdom: Founder Control and Value Creation in Startups." Strategic Management Journal 38, no. 2 (February 2017): 255–277.
- February 2001 (Revised March 2004)
- Case
Ducati & Texas Pacific Group - A "Wild Ride" Leveraged Buyout
Describes the attempt of Texas Pacific Group (TPG), a buyout firm, to purchase a controlling stake in Ducati Motor, the world's leading high-performance motorcycle company, based in Bologna, Italy. Ducati is part of Cagiva Group, a family-controlled industrial group.... View Details
Keywords: Valuation; Leveraged Buyouts; Entrepreneurship; Investment; Manufacturing Industry; Motorcycle Industry; Texas; Italy
Kuemmerle, Walter, and William J. Coughlin Jr. Ducati & Texas Pacific Group - A "Wild Ride" Leveraged Buyout. Harvard Business School Case 801-359, February 2001. (Revised March 2004.)
- May 2008 (Revised June 2009)
- Case
Finansbank 2006
By: C. Fritz Foley and Linnea Meyer
How do financial policy requirements and benefits of ownership concentration affect the need for and process of corporate restructuring? This case provides students with an opportunity to analyze the restructuring of a Turkish multinational business group by way of a... View Details
Keywords: Leveraged Buyouts; Mergers and Acquisitions; Restructuring; Capital Budgeting; Agreements and Arrangements; Valuation; Turkey; Greece
Foley, C. Fritz, and Linnea Meyer. "Finansbank 2006." Harvard Business School Case 208-108, May 2008. (Revised June 2009.)
- July 2005 (Revised June 2006)
- Case
Ryanair Holdings plc
Examines the valuation of an Irish airline that reported its first decline in net income in 2004 and saw a 30% stock price drop on the news. Ryanair is a low-cost, low-fare airline headquartered in Dublin, Ireland, operating over 200 routes in 20 countries. The company... View Details
Keywords: Strategy; International Accounting; Analysis; Valuation; Air Transportation; Forecasting and Prediction; Finance; Air Transportation Industry; Dublin
Bradshaw, Mark T. "Ryanair Holdings plc." Harvard Business School Case 106-003, July 2005. (Revised June 2006.)
- November 2017 (Revised August 2018)
- Case
Fair Value Accounting at Noble Group (A)
By: Siko Sikochi, Suraj Srinivasan and Quinn Pitcher
Noble Group was a large commodities trader based in Hong Kong and listed on the Singapore Stock Exchange. In 2012, Noble shifted its business strategy towards an asset-light model. Under this model, Noble did not own mines or farms to produce commodities but built... View Details
Sikochi, Siko, Suraj Srinivasan, and Quinn Pitcher. "Fair Value Accounting at Noble Group (A)." Harvard Business School Case 118-034, November 2017. (Revised August 2018.)
- September 2005 (Revised April 2007)
- Case
Spyder Active Sports - 2004
By: Belen Villalonga, Dwight B. Crane and James Quinn
David Jacobs founded a high-end ski apparel company in 1978. He successfully built and grew the company, establishing a major international brand that appealed to ski racers and other active skiers. In 1995, he sought external financing to support further growth of the... View Details
Keywords: Private Ownership; Private Equity; Financial Liquidity; Business Exit or Shutdown; Valuation; Brands and Branding; Wealth; Family Business; Financing and Loans; Globalization; Apparel and Accessories Industry; Sports Industry; Colorado
Villalonga, Belen, Dwight B. Crane, and James Quinn. "Spyder Active Sports - 2004." Harvard Business School Case 206-027, September 2005. (Revised April 2007.)
- March 2011
- Article
Accounting Scholarship That Advances Professional Knowledge and Practice
By: Robert S. Kaplan
Recent accounting scholarship has used statistical analysis on asset prices, financial reports and disclosures, laboratory experiments, and surveys of practice. The research has studied the interface among accounting information, capital markets, standard setters, and... View Details
Keywords: Corporate Disclosure; Asset Pricing; Risk Management; Surveys; Capital Markets; Measurement and Metrics; Valuation; Fair Value Accounting; Management Analysis, Tools, and Techniques; Financial Reporting
Kaplan, Robert S. "Accounting Scholarship That Advances Professional Knowledge and Practice." Accounting Review 86, no. 2 (March 2011): 367–383.
- February 2013
- Case
New Earth Mining, Inc.
By: William E. Fruhan and Wei Wang
New Earth Mining is one of the largest producers of precious metals in the U.S. While the firm operates mines primarily in the U.S. and Canada, it has also made substantial investments in gold exploration projects in Australia and Chile. New Earth has been very... View Details
Keywords: South Africa; Capital Budgeting; International Business; Return On Investment; Mining; Risk and Uncertainty; Risk Management; Valuation; Investment; Diversification; Mining Industry; Australia; South Africa; Chile; Canada; United States
Fruhan, William E., and Wei Wang. "New Earth Mining, Inc." Harvard Business School Brief Case 913-548, February 2013.