Publications

05 May 2003
Research & Ideas

Sharing the Responsibility of Corporate Governance

interests of the corporation. Contrary to popular belief, this does not mean maximizing shareholder value without regard for the effect on employees, customers, suppliers, the environment, or the communities in which the corporation does... View Details

Keywords: by Carla Tishler

March 2002 (Revised April 2002)
Background Note

A Note on Pre-Money and Post-Money Valuation (A)

A brief introduction to the calculations inherent in pre-money and post-money valuations at multiple stages of financing. Relies on two different examples to illustrate that valuations can be calculated in a variety of ways, depending on the information provided. A... View Details

Keywords: Valuation; Financing and Loans

August 2000 (Revised July 2002)
Background Note

Fundamental Enterprise Valuation: Earnings

By: Carliss Y. Baldwin

A technical note that defines earnings. View Details

Keywords: Valuation; Business Ventures; Profit

March 1998 (Revised October 1998)
Case

Paint-Pen, Inc.

Presents the background and some details on a possible acquisition opportunity--a manufacturer of ballpoint paint pens for the hobby and crafts industry. Forces students to peel the layers of this initially unattractive opportunity to find potential sources of value. A... View Details

Keywords: Valuation; Entrepreneurship; Acquisition; Manufacturing Industry; Entertainment and Recreation Industry

14 Feb 2003
Keynote Speech

Leadership, Values, and Organization." Speaker. "Advanced Management Development Program in Real Estate

By: Lynn S. Paine

Keywords: Leadership; Values and Beliefs; Organizations

14 Sep 2017
Op-Ed

Op-Ed: Google Engineer Deserved to be Fired by the CEO

Google CEO Sundar Pichai. Credit: Steven Zimmerman/Wikipedia Commons Google software engineer James Damore’s ten-page manifesto excoriating his employer for its diversity initiatives incited a major controversy in August about affirmative action and free speech.... View Details

Keywords: by Bill George

January 1993 (Revised June 1995)
Case

Arbitrage in the Government Bond Market?

Documents a pricing anomaly in the large and liquid treasury bond market. The prices of callable treasury bonds seem to be inconsistent with the prices of noncallable treasuries and an arbitrage opportunity appears to exist. Permits instructors to introduce the... View Details

Keywords: Bonds; Price; Valuation; Capital Markets

January 1987 (Revised September 1991)
Case

Walt Disney Co.'s Yen Financing

By: W. Carl Kester and William B. Allen

Walt Disney is considering hedging future yen inflows from Disney Tokyo. It is evaluating techniques using FX Forwards, swaps, and Yen term borrowings. Goldman Sachs presents a rather unusual but potentially attractive solution: Disney could issue ECU Eurobonds and... View Details

Keywords: Borrowing and Debt; Currency; Bonds; Valuation; Tokyo

June 2023
Supplement

Applied Intuition (B)

By: Andy Wu

Applied Intuition CEO Qasar Younis shares his perspective on the company's growth opportunities, the future of the autonomy industry, and his personal observations on strategy and leadership in technology. View Details

Keywords: Autonomous Vehicles; Software; Strategy; Competitive Strategy; Growth and Development Strategy; Valuation; Auto Industry; Technology Industry; California; Detroit

2021
Working Paper

Spiritual Philanthropy in Emerging Markets

By: Valeria Giacomin and G. Jones

This working paper discusses the ethics and drivers of philanthropic foundations in emerging markets. A foundation organizes assets to invest in philanthropic initiatives. Previous scholarship has largely focused on developed countries, especially the United States,... View Details

Keywords: Foundations; Philanthropy; Business Leaders; Spirituality; Philanthropy and Charitable Giving; Emerging Markets; Ethics; Values and Beliefs

Read Now

April 1975 (Revised December 1991)
Case

Consolidated Edison Co. (Abridged)

By: Thomas R. Piper

Faced with large external financing needs and a low stock price, Con Ed management must decide whether to pay a cash dividend in April 1974. Based on Consolidated Edison by G.C. Lodge. View Details

Keywords: Valuation; Decision Choices and Conditions; Financing and Loans; Energy Industry

April 2018 (Revised September 2023)
Case

Sabine Oil & Gas Corporation

By: Stuart C. Gilson, Kristin Mugford and Sarah L. Abbott

In 2016, a trial began to determine the future of Sabine Oil & Gas Corporation’s $3 billion chapter 11 reorganization plan. The plan called for first- and second-lien-secured creditors to receive new claims representing approximately 98% of the reorganized company’s... View Details

Keywords: Corporate Reorganization; Chapter 11; Oil ＆ Gas; Bankruptcy; Bankruptcy Reorganization; Insolvency and Bankruptcy; Energy; Restructuring; Valuation; United States

May 1990 (Revised April 1991)
Background Note

Dirty Hands

By: Joseph L. Badaracco Jr.

A one-paragraph excerpt from a play by Jean-Paul Sartre. Describes in the words of one character, the ethical problem of "dirty hands": the problem that doing the morally superior thing in some circumstances inevitably involves doing some things that are morally wrong.... View Details

Keywords: Moral Sensibility; Management; Problems and Challenges; Personal Characteristics; Value

Find at Harvard

October 1984
Teaching Note

NIKE (B), Teaching Note

Teaching Note for (9-385-027). View Details

Keywords: Organizational Culture; Value; Management Practices and Processes; Management Teams; Apparel and Accessories Industry

March 2024
Teaching Note

Madrigal: Conducting a Customer-Base Audit

By: Eva Ascarza, Peter S. Fader, Bruce Hardie and Michael Ross

Teaching Note for HBS Case No. 524-046. This case presents a scenario where Madrigal, a U.S. retailer with a rich 20-year history and a solid loyalty program, faces a turning point with the arrival of a new CEO. This leadership change reveals a critical gap in... View Details

Keywords: Customer Relationship Management; Analytics and Data Science; Growth and Development Strategy; Customer Value and Value Chain; Retail Industry; United States