Publications

01 Mar 2024
News

What is Web3?

Web3, a new era of the internet, uses blockchains, tokens, and wallets (tools for storing and managing digital assets) to facilitate a wide range of services and functionalities, including the transfer of assets from person-to-person. It represents a paradigm shift... View Details

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Executive Education Courses - Institute For Strategy And Competitiveness

HBS ISC Health Care Health Care Value-Based Health Care Health Care Courses Fast Facts Health Care Courses Health Care Courses Executive Education Courses Health Care Curriculum Residents & Fellows Course Strategy for Health Care Delivery VBHCD Intensive Seminars View Details

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Lessons from History - Creating Emerging Markets

two different forums - the question: what is the value of history in business? Day One of the conference explored the value of history for today’s practitioners and policy makers through the lens of four... View Details

18 Jun 2001
Research & Ideas

Tech Investment the Wise Way

potential value of new technologies by first holding them up against the company's business model.We argue that successful firms tend to interpret the potential value of nascent technologies in the context... View Details

Keywords: by Henry Chesbrough & Richard S. Rosenbloom

2025
Working Paper

Street Earnings: Implications for Asset Pricing

By: Sebastian Hillenbrand and Odhrain McCarthy

To address the excess volatility puzzle – the excessive movements in stock prices – researchers often study movements in valuation ratios. However, we demonstrate that movements in valuation ratios based on fundamental measures with high transitory volatility, such as... View Details

Keywords: Investment Return; Asset Pricing; Valuation; Measurement and Metrics; Stocks

SSRN

October 2022
Article

Underestimating Counterparts' Learning Goals Impairs Conflictual Conversations

By: Hanne K. Collins, Charles A. Dorison, Francesca Gino and Julia A. Minson

Given the many contexts in which people have difficulty engaging with views that disagree with their own— from political discussions to workplace conflicts—it is critical to understand how conflictual conversations can be improved. Whereas previous work has focused on... View Details

Keywords: Interpersonal Communication; Conflict and Resolution; Values and Beliefs; Learning; Perception

August 2020
Supplement

Sheena Gupta (B)

By: Leslie Perlow and Matthew Preble

Sheena Gupta (B) provides a brief update to how Gupta is thinking about crafting her life in context of the COVID-19 global pandemic. View Details

Keywords: Personal Development and Career; Values and Beliefs; Work-Life Balance; Health Pandemics; Singapore

May 2018 (Revised February 2019)
Teaching Note

Greg Mazur and the Purchase of Great Eastern Premium Pet Foods

By: Richard S. Ruback, Royce Yudkoff and Ahron Rosenfeld

Teaching Note for HBS No. 211-085. Greg Mazur (HBS 1997) identified a small firm, Great Eastern Premium Pet Food, in December of 1998 that fit his search criteria and decided to offer the seller a cash price of $1.2 million plus an earn-out equal to 1% of revenue over... View Details

Keywords: Acquisition; Entrepreneurship; Financing and Loans; Negotiation Deal; Strategic Planning; Valuation; Analysis

January 2011
Case

A Slice of the Pie: Ruby Collins and Tenants in Common

By: John D. Macomber and Kristian Peterson

A securitized small real estate investment vehicle fails and the many individual owners have to decide how to manage or dispose of the asset. This case follows Ruby Collins, a small investor, through the logic of Section 1031 Like Kind Exchanges as well as the... View Details

Keywords: Financial Instruments; Investment; Risk Management; Ownership Stake; Partners and Partnerships; Valuation; Real Estate Industry

October 2002
Article

Differences of Opinion and the Cross-Section of Stock Returns

By: Karl B. Diether, Christopher J. Malloy and Anna Scherbina

We provide evidence that stocks with higher dispersion in analysts' earnings forecasts earn lower future returns than otherwise similar stocks. This effect is most pronounced in small stocks, and stocks that have performed poorly over the past year. Interpreting... View Details

Keywords: Stocks; Forecasting and Prediction; Price; Valuation; Investment Return

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January 2002 (Revised March 2004)
Case

Computer Associates International, Inc.

In late 2000, Computer Associates (CA) changed its business model and the way it recognized revenue, ostensibly to better serve its stakeholders. The new subscription-based license model offered customers greater flexibility. Clients could subscribe to any CA software... View Details

Keywords: Business Model; Valuation; Corporate Disclosure; Revenue Recognition; Corporate Governance; Technology Industry

Find at Harvard

July 2000 (Revised May 2002)
Case

Gateway: Moving Beyond the Box

By: Frances X. Frei, Youngme E. Moon and Hanna Rodriguez-Farrar

Gateway has opened retail stores to differentiate itself from its competitors (e.g., Dell). Describes how the company has created an excellent service experience, but has struggled financially as a result. View Details

Keywords: Transition; Change Management; Valuation; Service Operations; Service Delivery; Distribution Channels; Computer Industry; Electronics Industry; United States

2001
Working Paper

Airbus vs. Boeing in Superjumbos: Credibility and Preemption

By: Benjamin C. Esty and Pankaj Ghemawat

In December 2000, Airbus formally committed to spend $12 billion to develop and launch a 555-seat superjumbo plane known as the A380. Prior to and after Airbus’ commitment, Boeing started and canceled several initiatives aimed at developing a “stretch jumbo” with... View Details

Keywords: Air Transportation; Product Development; Market Entry and Exit; Valuation; Game Theory

Read Now

10 Jan 2005
Research & Ideas

How to Put Meaning Back into Leading

enactment of values and a purpose to which the organization subscribes. Barnard came to define the role of the organizational leader as the creator and steward of the purpose and values, where an important aspect of the stewardship... View Details

Keywords: by Martha Lagace

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Teaching Cases - Institute For Strategy And Competitiveness

Health Delivery Project The Institute for Cancer Care Innovation MOC Network ICIC U.S. Cluster Mapping Project U.S. Competitiveness Project FSG Shared Value Initiative Social Progress Imperative AllWorld Network VBHCD Initiative VBHCD... View Details

March 2009 (Revised October 2009)
Case

CalPERS' Emerging Equity Markets Principles

By: Robert G. Eccles and Aldo Sesia

The California Public Employees' Retirement System (CaIPERS)—the largest public pension fund in the U.S.—had adopted a new principles-based approach to investing in emerging market equities in November 2007. Previously, CalPERS internal and external money managers were... View Details

Keywords: Values and Beliefs; Investment Return; Investment Funds; Investment Portfolio; Emerging Markets; Corporate Social Responsibility and Impact; Value; Financial Services Industry; Public Administration Industry; China; California

August 1998 (Revised October 1998)
Case

Disney's "The Lion King" (A): The $2 Billion Movie

By: Jeffrey F. Rayport, Carin-Isabel Knoop and Cate Reavis

In 1994, just 10 years after its filmed entertainment division lost $33 million, Disney's animated creation "The Lion King" became the second highest grossing film ever. In addition to drawing $740 million in worldwide box office sales, its merchandise sales exceeded... View Details

Keywords: Value Creation; Marketing Strategy; Expansion; Creativity; Film Entertainment; Organizational Change and Adaptation; Organizational Structure; Product Development; Entertainment and Recreation Industry; Retail Industry

April 2018
Supplement

Celgene

By: Malcolm Baker and Emily R. McComb

In February 2011, Adam Koppel, a Managing Director at Brookside Capital, the public equity arm of Bain Capital, must decide whether to increase or exit the firm’s position in Celgene Corporation. News has emerged that raises potential safety concerns associated with... View Details

Keywords: Life Sciences; Biotechnology; Public Market Investing; Celgene; Revlimid; Hedge Fund; Growth Stocks; Valuation; Investment; Decision Choices and Conditions; Analysis

Article

Money is No Object: Testing The Endowment Effect in Exchange Goods

By: Dan Svirsky

We present a new experimental design to test whether the endowment effect exists for exchange goods, like money. We compare three groups to a baseline: one endowed with money, one endowed with chocolate coins, and one endowed with chocolate coins described as "tokens."... View Details

Keywords: Perception; Valuation; Goods and Commodities; Attitudes