Publications
Publications
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(2,231)
- Faculty Publications (586)
- November 1995 (Revised October 2000)
- Case
Acme Investment Trust
By: Josh Lerner
Acme Investment Trust is considering investing in a private equity partnership that is seeking only 15% of the profits, instead of the standard 20%. The management fee requested, however, is higher than in its earlier fund. The pension managers must consider the... View Details
- September 1995 (Revised May 1998)
- Case
RogersCasey Alternative Investments: Innovative Response to the Distribution Challenge
By: Josh Lerner
RogersCasey Alternative Investments faces the challenge of managing distributions of stock by the private equity investors in which their clients have invested. These distributed shares appear to behave in complex ways, apparently at odds with market efficiency. A... View Details
- December 1994 (Revised November 1997)
- Background Note
Information Sources About Private Equity
By: Josh Lerner
Provides an overview of key sources of information. View Details
Keywords: Private Equity
- September 1994 (Revised May 2010)
- Case
Hamilton Test Systems, Inc.
By: William A. Sahlman and Norman Klein
The protagonists must decide whether to invest in an auto emissions testing company as the first investment in the leveraged buyout fund they recently formed. Issues of how to raise the needed equity capital and how to structure the acquisition are emphasized. View Details
- January 1994 (Revised April 2011)
- Background Note
Note on Private Equity Partnership Agreements
By: Josh Lerner
Venture capital by necessity is a long-run investment. Consequently, since the mid-1960s virtually all venture financing has been raised through private partnerships with a ten-year or longer life span. To govern these investments, complex contracts have sprung up... View Details
- September 1992 (Revised March 1993)
- Case
Empresas ICA and the Mexican Road Privatization Program
By: Willis M. Emmons III and Monica Brand
Mexico's largest construction company, Empresas ICA, makes an initial public offering to international equity investors in April 1992 to help fund its participation in an ambitious new private-sector approach to highway development. Under the new program, launched by... View Details
- March 1992 (Revised December 1992)
- Case
Harley-Davidson, Inc.--1987
By: W. Carl Kester and Julia Morley
After an LBO and near bankruptcy in the early 1980s, Harley-Davidson makes an astonishing recovery, going public in 1986. Its listing on the New York Stock Exchange in 1987 provides the occasion of an equity analyst to publish a research report in which she must issue... View Details
- January 1992
- Teaching Note
Congoleum Corporation (Abridged) TN
Teaching Note for (9-287-029). View Details
- April 1991 (Revised July 1994)
- Case
Southland Corp. (B)
Examines Southland's financial difficulties following the LBO in 1987 up to the first restructuring plan in July 1990. The teaching objectives are: to explore the complexities of a failed leverage buyout and the operating restrictions that result from financial... View Details
- July 1990 (Revised March 2000)
- Case
John M. Case Company
The owner of a small, privately held company decides to sell out, and a group of the company's top managers structures a leveraged buyout. A rewritten version of an earlier case. View Details
- November 1988 (Revised September 1991)
- Case
Simmons Japan Ltd.
By: W. Carl Kester and Richard P. Melnick
Concerns the first leveraged buyout to occur in Japan. Analytic tasks include a valuation of the company and an assessment of its debt capacity. Also provides opportunities to discuss agency costs associated with alternative capital and equity ownership structures,... View Details
Keywords: Leveraged Buyouts; Restructuring; Borrowing and Debt; Capital Structure; Cost; Equity; Production; Valuation; Japan; United States
- October 1988
- Case
Harris Seafoods Leveraged Buyout
Describes set of issues confronting Alison Lassiter, who is trying to help Charlie Harris arrange a leveraged buyout of the shrimp company he runs, a division of a publicly traded company, Katy Industries. Lassiter has prepared a memorandum discussing and analyzing the... View Details
- October 1986 (Revised February 2008)
- Case
Congoleum Corp. (Abridged)
Describes the development and terms of the largest leveraged buyout up to the date of the case. The main problem is to value the positions of the various participants: lenders, equity holders, investment bankers, and management. This is an abridged version of an... View Details
- September 1986 (Revised July 2001)
- Case
Eastern Electric Apparatus Repair Company (A)
By: Carliss Y. Baldwin and Harry Gruner
As principals engaged in structuring leveraged buyouts for a well-capitalized risk arbitrage firm, Bob Meehan and George Schwartz are preparing to bid for the business and assets of a Westinghouse subsidiary. The case focuses on the value of the opportunity, methods of... View Details
- June 1984 (Revised July 1999)
- Background Note
Securities Law and Private Financing
By: Howard H. Stevenson and Michael J. Roberts
Describes the issues an entrepreneur faces in the process of raising private funds, and the securities laws which impact the process. Based in part on a note by R.E. Floor of the law firm of Goodwin, Procter & Hoar. View Details
- Teaching Interest
Demystifying the Family Enterprise
This course is primarily designed for students who are pursuing a career in family run businesses, family owned businesses, investment roles in family offices, or students that might invest in or wholly purchase a family owned business through a private equity firm,... View Details
- Forthcoming
- Article
Do Public Financial Statements Influence Private Equity and Venture Capital Financing?
By: Brian K. Baik, Natalie Berfeld and Rodrigo S. Verdi
We study whether private firm public financial statements influence the probability of raising venture capital (VC) and private equity (PE) financing. In particular, we propose that private firms’ public financial statements can help the VC/PE search process by... View Details
- Forthcoming
- Article
Half the Firms, Double the Profits: Public Firms' Transformation, 1996–2022
By: Mark J. Roe and Charles C.Y. Wang
The number of public firms in the United States has halved since the beginning of the twenty-first century, causing consternation among corporate and securities law regulators. The dominant explanations, often advanced by Securities and Exchange commissioners when... View Details
- Teaching Interest
Investing: Risk, Return and Impact (MBA)
By: Shawn A. Cole
This is an investing/finance course, designed to build on skills introduced in the RC finance course, but with an emphasis on how and whether investors should incorporate what have traditionally been considered “non-financial” criteria in their decisions: for... View Details
- Research Summary
Long-Run Performance Following Equity Issue
By: Paul A. Gompers
In an effort to establish how the transition from private to public firm
affects performance, Paul A. Gompers is examining the long-run performance
of companies that issue equity in an initial public or seasoned offering.
He is also attempting to determine whether... View Details