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  • 28 Jul 2009
  • First Look

First Look: July 28

case explores maximizing shareholder value as a goal in executive decision making. Over a period of nine years, three different Pfizer CEOs make critical decisions intended to... View Details
Keywords: Martha Lagace
  • 01 Oct 2020
  • What Do You Think?

Are CEOs the Wrong Leaders for Stakeholder Capitalism?

has enough leverage to practice it. Boards of directors play an important role in championing the cause of stakeholders of all kinds. DF in AZ put it this way: “If a company promises a fundamental shift towards shareholder capitalism but... View Details
Keywords: by James Heskett
  • 06 Dec 2021
  • Research & Ideas

The Popular Stock Metric That Can Lead Investors Astray

firm’s book equity value and compares that to its market capitalization, or market equity value. Book value is the value of a firm’s assets, including land, equipment, and... View Details
Keywords: by Rachel Layne
  • 22 Sep 2003
  • Research & Ideas

When Protestors Knock at Your Door

overlap between NGO issues and firm behavior. Where can a firm maximize shareholder value and appease (or even advance the cause of) an NGO? Finally, firms might consider how... View Details
Keywords: by Cynthia Churchwell
  • 01 Jul 2019
  • Research & Ideas

The Airbnb Lesson for Startups? Success Takes More Than Technology

These companies need to maximize the utilization rate of their assets. Airbnb doesn't have any of these assets. By the nature of its platform, the company can go into new aspects of the customer value chain... View Details
Keywords: by Danielle Kost; Travel; Tourism
  • 11 Jul 2012
  • Research & Ideas

The Future of Boards

maximizing shareholder value as the primary focus and motivation for a corporation's existence” Topics tackled include how boards can most effectively oversee company strategy,... View Details
Keywords: by Julia Hanna
  • September 2023 (Revised January 2024)
  • Case

Helmy Abouleish: Making a Desert Bloom

By: Geoffrey G. Jones and Maxim Pike Harrell
This case examines the history of prominent Egyptian-based social enterprise SEKEM from its foundation in 1977 until the COP27 conference held in Sharm El-Sheikh in 2022. Led by father and son team Ibrahim and Helmy Abouleish, SEKEM turned desert into farmland using... View Details
Keywords: Agribusiness; Climate Change; Values and Beliefs; Social Enterprise; Agriculture and Agribusiness Industry; Egypt
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Jones, Geoffrey G., and Maxim Pike Harrell. "Helmy Abouleish: Making a Desert Bloom." Harvard Business School Case 324-029, September 2023. (Revised January 2024.)
  • 25 Aug 2017
  • Op-Ed

Op-Ed: After Charlottesville, Where Does a CEO's Responsibility Lie?

little guidance. Executives may be tempted to take refuge in the idea that they have fiduciary obligations to maximize shareholder returns, but this is simply a myth—corporate leaders have many... View Details
Keywords: by Gautam Mukunda
  • 09 Jul 2001
  • Research & Ideas

Does Misery Love Companies? How Social Performance Pays Off

shareholder wealth maximization when fulfilling their fiduciary duty (Orts, 1992), the Delaware Court endorsed this same idea in 1989 when it allowed Time's management to reject a lucrative tender offer from... View Details
Keywords: by Joshua D. Margolis & James P. Walsh
  • 17 Jul 2000
  • What Do You Think?

Where Is the Microsoft Board?

In his words, "As long as shareholder value maximization is the sole focus of Boards in a capitalistic context, objectivity in judgment is at risk: putting View Details
Keywords: by James Heskett
  • April 2002
  • Background Note

Note on Minority Interest

This case provides a brief introduction to the concept of minority interest and the issues that it gives rise to in valuation of firms. View Details
Keywords: Valuation; Investment; Business and Shareholder Relations
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Kedia, Simi. "Note on Minority Interest." Harvard Business School Background Note 202-116, April 2002.
  • 20 Jun 2011
  • Lessons from the Classroom

Fame, Faith, and Social Activism: Business Lessons from Bono

escalating, high-profile campaign against Third World debt, poverty, war and disease. “Any CEO who thinks his or her job is about maximizing shareholder value is living in the... View Details
Keywords: by Kim Girard; Entertainment & Recreation
  • 07 Oct 2002
  • Research & Ideas

What Leaders Need to Do To Restore Investor Confidence

committee to relationship managers. Q: Did the rules change? Or has the policing not been strong enough? A: Maximizing shareholder wealth has become the overarching corporate goal, and whatever it takes to... View Details
Keywords: by Harvard Management Update
  • 09 Dec 2008
  • First Look

First Look: December 9, 2008

the idea initiated by the price of anarchy literature (Koutsoupias & Papadimitriou, 1999; Papadimitriou, 2001) this suggests the study of two major measures for the value of correlation in a game with non-negative payoffs: the ratio... View Details
Keywords: Martha Lagace
  • 02 Sep 2010
  • What Do You Think?

How Transparent Should Boards Be?

board's deliberation will be publicized in the business press for weeks, further depressing the price of the stock. They remind their colleagues that the board's primary responsibility is to shareholders and the View Details
Keywords: by Jim Heskett
  • 03 May 2016
  • First Look

First Look, May 3, 2016

involve tensions between local imperatives and boundary-crossing integration. And there are obligation paradoxes, when the goal of maximizing profits for shareholders clashes with the desire to generate... View Details
Keywords: Sean Silverthorne
  • October 2024 (Revised March 2025)
  • Teaching Note

BWX Technologies

By: Suraj Srinivasan and Yuan Zou
Teaching Note for HBS Case No. 124-071. View Details
Keywords: Transformation; Communication Intention and Meaning; Business and Shareholder Relations; Valuation; Diversification; United States; Canada
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Srinivasan, Suraj, and Yuan Zou. "BWX Technologies." Harvard Business School Teaching Note 125-063, October 2024. (Revised March 2025.)
  • 26 Jan 2016
  • First Look

January 26, 2016

ways. In the light of these wide-ranging effects, much scholarship has been devoted to specifying the responsibilities of managers of for-profit business enterprises. Much of this scholarship is framed in relation to “shareholder primacy”—the view that managers should... View Details
Keywords: Sean Silverthorne
  • 06 Aug 2013
  • First Look

First Look: August 6

during the class period. Named directors receive more negative recommendations from Institutional Shareholder Services (ISS), a proxy advisory firm, and significantly more negative votes from shareholders... View Details
Keywords: Anna Secino
  • 24 Mar 2002
  • Lessons from the Classroom

Case Study: A Lesson in Private Venture Financing

owners opted for an IPO in March 2000. Valued at 400 million Rand on the Johannesburg Stock Exchange, its shareholders included about 1,000 of the company's security guards. From Ipo To Acquisition "An... View Details
Keywords: by Julia Hanna
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