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Publications
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(2,981)
- Faculty Publications (906)
- October 2011 (Revised March 2013)
- Case
Yale University Investments Office: February 2011
By: Josh Lerner and Ann Leamon
David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments—hedge funds, private equity, real estate—given the impact of the recent market turmoil. The case explores the risks... View Details
- September 2011 (Revised March 2014)
- Case
Brightcove, Inc. in 2007
By: Andrei Hagiu and David B. Yoffie
Brightcove, a technology and services provider to content owners in the Internet television field, aimed to become a media distribution company in its own right. On October 30, 2006, it relaunched its Website—and, in effect, its business. With its new, consumer-facing... View Details
- 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,... View Details
- August 2011 (Revised October 2015)
- Case
Boardroom Battle Behind Bars: Gome Electrical Appliances Holdings—A Corporate Governance Drama
By: William C. Kirby and Tracy Yuen Manty
Despite widespread news of the incarceration of Gome Electronics' CEO, Huang Guangyu, Bain Capital felt they carefully undertook due diligence before making a significant investment in the company. The venture capital firm was confident that it and the current... View Details
Keywords: China; Legal Aspects Of Business; Corruption; Risk; Corporate Governance; Crime and Corruption; Power and Influence; Risk Management; Business and Shareholder Relations; Venture Capital; Ethics; Governing and Advisory Boards; Governing Rules, Regulations, and Reforms; Values and Beliefs; Private Equity; China
- July 2011 (Revised September 2018)
- Case
Nashton Partners and Its Search Fund Process
By: Richard S. Ruback and Royce Yudkoff
Nashton Partners was a search fund founded by two HBS MBA's that raised $500,000 to finance a search for a company that they could purchase and then run for the next five to ten years. The case examines the search fund structure, the two-year search, and two potential... View Details
- July – August 2011
- Article
Evolve (Again)
Frenzy over social networks and interactive media can produce equally overhyped predictions that everything will change, not to mention money-losing investments in silly ventures. Separating enduring strategic lessons from the hype can help avoid a new crash. Hint: the... View Details
- July 2011
- Article
The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking
By: Victoria Ivashina and Anna Kovner
This paper examines the impact of leveraged buyout firms' bank relationships on the terms of their syndicated loans. Using a sample of 1,590 loans financing private equity sponsored leveraged buyouts between 1993 and 2005, we find that bank relationships are an... View Details
- June 2011 (Revised August 2012)
- Case
Coca-Cola in 2011: In Search of a New Model
By: David B. Yoffie and Renee Kim
Muhtar Kent, CEO of the Coca-Cola Company, faced a critical decision in 2011 after closing a $12 billion deal to buy its troubled North America bottling operations from its biggest bottler, Coca-Cola Enterprises. The decision was prompted by several changes in the U.S.... View Details
- June 2011 (Revised November 2014)
- Case
Vehbi Koç and the Making of Turkey's Largest Business Group
By: Asli M. Colpan and Geoffrey Jones
The case describes the creation of Turkey's largest business group by Vehbi Koç. The foundation of this group in the interwar years, and its subsequent diversification into many industries, including automobiles, household goods, and services, is analysed. The case... View Details
- June 2011 (Revised October 2012)
- Case
Patagonia Sur: For-Profit Land Conservation in Chile
By: Arthur I Segel, Nicolas Ibanez and Jay Verjee
Warren Adams founded Patagonia Sur in 2007 as one of the world's first for-profit land conservation businesses. His goal was to purchase over 100,000 acres of land in southern Chile and to run a variety of sustainable businesses to generate annual returns for... View Details
- May 2011 (Revised December 2011)
- Case
Stuyvesant Town - Peter Cooper Village: America's Largest Foreclosure
By: Arthur I Segel, Gregory S. Feldman, James T. Liu and Elizabeth C. Williamson
In July 2010, William Ackman, the founder of Pershing Square, is considering a potential new opportunity: the acquisition of the distressed Stuyvesant Town and Peter Cooper Village ("ST /PCV") complex. The property had recently been abandoned by its owners and had come... View Details
- May 2011
- Background Note
Scale Effects, Network Effects, and Investment Strategy
By: Willy Shih
This technical note discusses scale economies, and direct and indirect network effects in the context of building better business models. Some of the great business disasters of the dot.com bubble were companies that scaled their infrastructure without working through... View Details
- April 2011 (Revised April 2012)
- Case
Angels in British Columbia
By: Josh Lerner, Thomas Hellmann and Ilkin Ilyaszade
The case study provides an overview of the angel investment practices and describes government policies towards angel and venture capital investing in British Columbia, Canada. It focuses in particular on the Equity Capital Program (BCECP henceforth), which provides... View Details
- April 2011
- Article
Private Equity and Long-Run Investment: The Case of Innovation
By: Josh Lerner, Morten Sorensen and Per Stromberg
A long-standing controversy is whether LBOs relieve managers from short-term pressures of dispersed shareholders, or whether LBO funds themselves are driven by short-term profit motives and sacrifice long-term growth to boost short-term performance. We investigate 495... View Details
- March 2011
- Supplement
Countrywide plc (CW)
By: Stuart C. Gilson and Sarah L. Abbott
One of the world's leading investors in distressed companies, Oaktree Capital Management is contemplating a "loan to own" investment in the debt f Countrywide plc, a financially troubled residential real estate agent based in the U.K. Only sixteen months earlier,... View Details
- March 2011
- Supplement
H Partners and Six Flags (B)
By: Robin Greenwood and Michael Gorzynski
Rehan Jaffer, the founder of hedge fund H Partners, is considering what to do with his investment in Six Flags. H Partners had invested a significant amount of the firm's capital in the senior bonds of U.S.-based Six Flags, following that company's bankruptcy filing. View Details
- March 2011
- Article
Institutional Demand Pressure and the Cost of Corporate Loans
By: Victoria Ivashina and Zheng Sun
Between 2001 and 2007, annual institutional funding in highly leveraged loans went up from $32 billion to $426 billion, accounting for nearly 70% of the jump in total syndicated loan issuance over the same period. Did the inflow of institutional funding in the... View Details
- February 2011 (Revised June 2013)
- Case
Businesses for Sale by Briggs Capital, 2010
By: Richard S. Ruback and Royce Yudkoff
Briggs Capital was a regional mergers and acquisitions advisory firm that helped owners to sell their small firms. The case presents a company that was for sale in the fall of 2010—a troubled manufacturer of post and beam style homes and log homes. Using the actual... View Details
- February 2011 (Revised April 2012)
- Case
Braddock Industries, Inc.
This case examines the drivers of economic value creation for shareholders, and how these drivers are reflected in various incentive compensation programs for management. The case also looks at how the economic performance of business units can be evaluated using... View Details
- February 2011 (Revised January 2017)
- Case
Countrywide plc
By: Stuart C. Gilson and Sarah L. Abbott
One of the world's leading investors in distressed companies, Oaktree Capital Management, is contemplating a "loan to own" investment in the debt of Countrywide plc, a financially troubled residential real estate agent based in the U.K. Only sixteen months earlier,... View Details