Publications

October 2019
Case

Hony Capital and Jushi Group

By: Josh Lerner, Shai Bernstein and Ann Leamon

Hony Capital, a multi-billion dollar private equity firm based in China, is investing in a subsidiary of Jushi Group, a Chinese company that is one of the world's largest fiberglass producers. The specific project will build a plant in the United States. In this case,... View Details

Keywords: Real Estate; Investing; Fundraising; Manufacturing; Private Equity; Asset Management; Finance; Investment; Venture Capital; China; United States

17 Nov 2014
Lessons from the Classroom

Managing the Family Business: Are Optimists or Pessimists Better Leaders?

Editor's note: This is part of a series of occasional columns on managing the family business written by Senior Lecturer John A. Davis. Optimism and pessimism are strong, stable traits that reflect our coping strategies. We live in an... View Details

01 Feb 1997
News

Made, Not Born: HBS Courses and Entrepreneurial Management

skills, as HBS faculty and recent alumni explain in the following course profiles. Entrepreneurial Management Associate Professor Amar Bhide keeps a slide rule tacked above his office desk. "Although I don't use it anymore," he explains,... View Details

September 2021 (Revised November 2022)
Case

MAYA Capital

By: Robert F. White, Carla Larangeira and Pedro Levindo

MAYA Capital co-founders Lara Lemann and Monica Saggioro raised $41.5 million through a series of closings for their early-stage Latin American venture capital fund. The two women had met for the first time in mid-2016 when Lemann was contemplating scaling her angel... View Details

Keywords: Early Stage; Portfolio Construction; Fund Management; Investment; Entrepreneurship; Venture Capital; Investment Portfolio; Strategy; Business Startups; Management; Investment Funds; Latin America

November 2016
Article

Corporate Sustainability: First Evidence on Materiality

By: Mozaffar Khan, George Serafeim and Aaron Yoon

Using newly available materiality classifications of sustainability topics, we develop a novel dataset by hand-mapping sustainability investments classified as material for each industry into firm-specific sustainability ratings. This allows us to present new evidence... View Details

Keywords: Sustainability; Investments; Corporate Social Responsibility; Accounting; Corporate Reporting; Regulation; Corporate Social Responsibility and Impact; Integrated Corporate Reporting; Investment; Corporate Governance

Article

Four Things No One Will Tell You About ESG Data

By: Sakis Kotsantonis and George Serafeim

As the ESG finance field and the use of ESG data in investment decision-making continue to grow, the authors seek to shed light on several important aspects of ESG measurement and data. This article is intended to provide a useful guide for the rapidly rising number of... View Details

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05 Mar 2001
What Do You Think?

Fine Coupling: Can Human Resource Management Learn from Supply Chain Management?

important." Scott Lichtman agrees, pointing out that "to be efficient in this fast-moving era rather requires longer-term investment in skills and strategy adoption by longstanding employees ..." On the other hand, Ryan... View Details

Keywords: by James Heskett

September 2022
Case

ROI vs. ROI: The Grupo Baobá Family Office

By: Lauren Cohen, Hao Gao, Jiawei Ye and Grace Headinger

Fernando Scodro, a third-generation member of his family, mulled over the next step in integrating an ESG strategy into his family office’s investment portfolio. While his family office, Grupo Baobá, had made excellent progress in incorporating his family’s values into... View Details

Keywords: Impact Investing; ESG; Green Building; Family; Partnership; Latin America; Brazil; Buildings and Facilities; Green Buildings; Family Business; Family and Family Relationships; Financial Management; Partners and Partnerships; Financial Services Industry; Brazil; Latin America

2022
White Paper

Building from the Bottom Up: What Business Can Do to Strengthen the Bottom Line by Investing in Front-line Workers

By: Joseph B. Fuller and Manjari Raman

A significant number of American workers—44%—are employed in low wage jobs at the front line of industries. Despite undertaking some of the most tedious, dirtiest, and most dangerous jobs, low-wage workers are—and have long been—the most likely to be overlooked by... View Details

Keywords: COVID-19; Labor Market; Low-wage Workers; Worker Welfare; Churn/retention; Morale; Jobs and Positions; Employees; Wages; Retention; Well-being; Human Resources

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14 May 2001
Research & Ideas

Are You Managing To a ‘T’? Time To Break With Tradition

Many companies have tried, with mixed success, to leverage this underused asset by centralizing knowledge management functions or by investing heavily in knowledge management... View Details

Keywords: by Morten T. Hansen & Bolko Von Oetinger

Article

Can Mutual Fund Managers Pick Stocks? Evidence from Their Trades Prior to Earnings Announcements

By: Malcolm Baker, Lubomir Litov, Jessica Wachter and Jeffrey Wurgler

We consider measures of stock-picking skill of mutual fund managers based on the earnings announcement returns of the stocks that they hold and trade. Relative to standard approaches, this approach focuses on an especially informative subset of the returns data,... View Details

Keywords: Competency and Skills; Stocks; Investment Return; Investment Funds; Earnings Management

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1976
Book

Nine Investments Abroad and Their Impact at Home: Case Studies on Multinational Enterprise and the U.S. Economy

By: Robert B. Stobaugh and Robert H. Hayes

Keywords: Multinational Firms and Management; International Finance; United States

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Web

Hiring at HBS: How Summer Interns Make an Impact at Bridges Fund Management - Recruiting

make a positive impact on the world, one exciting path forward is investing in mission-centered businesses. Areas like healthcare, education, energy, and the environment attract innovative and entrepreneurial minds, and just like the team... View Details

January 2018 (Revised April 2021)
Case

Capital Allocation at HCA

By: W. Carl Kester and Emily R. McComb

In early 2017, HCA Holdings, an investor-owned hospital management company, faced a strategically important capital allocation decision. After the exit of its private equity sponsors in 2016, HCA had to determine how best to allocate its substantial annual free cash... View Details

Keywords: Capital Allocation; Cash Distribution Policy; Dividends; Share Repurchases; Growth Strategy And Execution; Growth Investing; Capital Expenditures; Debt Management; Debt Reduction; Debt Policy; Hospital Management; Investor-owned Hospital Chains; Capital Budgeting; Capital Structure; Cash Flow; Corporate Finance; Decision Choices and Conditions; Health Industry; United States

May 2015
Teaching Note

Aviva Investors

By: George Serafeim

Keywords: Responsibility; Responsibilities To Society; Sustainability; Sustainability Reporting; Corporate Social Responsibility; Corporate Sustainability; Activist Investors; Investment Management; Investment Strategy; Corporate Accountability; Corporate Social Responsibility and Impact; Integrated Corporate Reporting; Environmental Sustainability; Investment Activism

March 2004 (Revised July 2004)
Case

UCB: Managing Information for Globalization and Innovation (A) (Abridged)

By: F. Warren McFarlan and Brian DeLacey

A medium-size European manufacturer of pharmaceuticals and chemicals faces a number of information strategy issues. The case focuses on the issues of coordinating international IT activities and day-to-day operations as well as balancing the company's IT applications... View Details

Keywords: Innovation and Invention; Information Technology; Operations; System; Corporate Strategy; Investment Portfolio; Globalization; Pharmaceutical Industry; Information Technology Industry; Brussels

November 2019 (Revised January 2020)
Supplement

Taiwan Semiconductor Manufacturing Company Limited: A Global Company's China Strategy (B)

By: William C. Kirby, Billy Chan and Dawn H. Lau

After the legendary founder of Taiwan Semiconductor Manufacturing Company (TSMC) retired, the new chairman had to grapple with fresh challenges related to its China market: a recently opened factory in China had to find ways to reverse its financial loss and meet its... View Details

Keywords: Cross-cultural; Foreign Investment; Government; Business and Government Relations; Globalization; Change Management; Customer Relationship Management; Innovation Strategy; Global Strategy; Leadership; Semiconductor Industry; Taiwan; China