Publications

2008
Book

Mexico Since 1980

By: Stephen Haber, Herb Klein, Noel Maurer and Kevin Middlebrook

This book addresses two questions that are crucial to understanding Mexico's current economic and political challenges. Why did the opening up of the economy to foreign trade and investment not result in sustained economic growth? Why has electoral democracy not... View Details

Keywords: Developing Countries and Economies; Foreign Direct Investment; Government and Politics; Growth and Development; Law Enforcement; Welfare or Wellbeing; Mexico

November 2014 (Revised May 2017)
Teaching Note

Fresno's Social Impact Bond for Asthma

By: John A. Quelch

The case desccribes a social impact bond (SIB) to fund home-based remediation programs designed to reduce asthma attacks among Fresno residents (especially children) and thereby save on health care costs (ambulance callouts, emergency room visits etc.). The case... View Details

Keywords: Programs; Social Issues; Investment Return; Health Care and Treatment; Health Industry; California

November 2005 (Revised May 2007)
Case

HP Nanotech: Partnership with CNSI

Stan Williams, leading nanotech researcher at Hewlett Packard Laboratories, must decide whether to renew the firm's sponsorship of California NanoSystems Institute, spend the funds on internal R&D, or fund foreign universities. Illustrates the challenge of managing... View Details

Keywords: Information Technology; Partners and Partnerships; Investment; Collaborative Innovation and Invention; Business and Community Relations; Financial Strategy; Technology Industry; California

17 Sep 2008
Working Paper Summaries

Secrets of the Academy: The Drivers of University Endowment Success

Keywords: by Josh Lerner, Antoinette Schoar & Jialan Wang; Education

12 Oct 1999
Research & Ideas

Where Main Street Meets Wall Street

years later, both camps benefit enormously from their close ties: the mutual fund is America's investment vehicle of choice, with one in three U.S. households owning a stake in the industry's $5.5 trillion... View Details

Keywords: by Garry Emmons; Financial Services

July 2003 (Revised September 2003)
Case

Refinancing of Shanghai General Motors (A), The

By: Mihir A. Desai and Mark Veblen

The CFO of General Motors' joint venture in Shanghai, Shanghai General Motors (SGM), wants to refinance almost $900 million of project finance it raised to begin operations. The highest priority is improving the terms of the financing with regard to costs and specific... View Details

Keywords: Business Subsidiaries; Multinational Firms and Management; Joint Ventures; Financing and Loans; Auto Industry; Shanghai

2023
Working Paper

LALIGA—From a Soccer Competition Organizer to a Global Player in the Sports and Entertainment Industry

By: Stephen A. Greyser, Kenneth Cortsen and Juan Fuentes Fernández

LALIGA, the first- and second-tier professional soccer league (known as “football” outside of the U.S. and Canada) in Spain, enters its 100th soccer season later this decade. The most popular game in the world (Giulianotti, 2012) has gone through many changes since... View Details

Keywords: Soccer; ＂Sports Organizations,; Business History; Strategy; Brands and Branding; Technology Adoption; Sports Industry

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16 Feb 2021
Research & Ideas

To Fight Climate Change, Should Green Investors Reconsider Big Oil?

allocated to sustainable funds that invest in companies with specific environmental, social, and governance (ESG) factors and goals. Since 2015, when the US Department of Labor began allowing pension View Details

Keywords: by Kristen Senz; Energy

12 May 2015
Working Paper Summaries

Financing Payouts

Keywords: by Joan Farre-Mensa, Roni Michaely & Martin C. Schmalz

12 Jan 2016
First Look

January 12, 2016

https://www.hbs.edu/faculty/Pages/item.aspx?num=50177 The Globalization of Angel Investments: Evidence across Countries By: Lerner, Josh, Antoinette Schoar, Stanislav Sokolinski, and Karen Wilson Abstract—This paper examines investments... View Details

Keywords: Carmen Nobel

August 2000
Case

AMVESCAP in 1999

By: Stephen P. Bradley and Kathleen E. E Danoher

Deals with the problems faced by a major mutual fund company as it attempts to respond to the threats and opportunities posed by the explosion of the Internet and the changing landscape of retail financial services. View Details

Keywords: Trends; Investment Funds; Management Analysis, Tools, and Techniques; Problems and Challenges; Alignment; Internet; Financial Services Industry

April 2011
Article

Private Equity and Long-Run Investment: The Case of Innovation

By: Josh Lerner, Morten Sorensen and Per Stromberg

A long-standing controversy is whether LBOs relieve managers from short-term pressures of dispersed shareholders, or whether LBO funds themselves are driven by short-term profit motives and sacrifice long-term growth to boost short-term performance. We investigate 495... View Details

Keywords: Patents; Private Equity; Leveraged Buyouts; Investment; Innovation and Invention

October 2023
Case

Kevin O'Leary: Building a Brand in Shark-infested Waters

By: Reza Satchu and Patrick Sanguineti

For more than fifteen years, successful Canadian entrepreneur and investor Kevin O’Leary had developed his brand into a global powerhouse. Since his first appearance on the Canadian television program Dragons’ Den in 2006 and his meteoric rise to stardom through the... View Details

Keywords: Personal Brand; Crisis; Brands and Branding; Entrepreneurship; Crisis Management; Social Media; Public Opinion; Power and Influence; Financial Services Industry

July 1991 (Revised August 1991)
Case

Philip Morris Companies, Inc. (A)

By: Samuel L. Hayes III

This large tobacco and diversified food processor is seeking to refinance debt funds raised to accomplish a large acquisition. It has filed a large "shelf" registration that authorizes it to issue during the subsequent two years. At the time of the case, the market... View Details

Keywords: Stocks; Initial Public Offering; Consumer Products Industry; United States

August 2013
Case

HgCapital and the Visma Transaction (A)

By: Paul A. Gompers, Karol Misztal and Joris Van Gool

This case concerns the negotiations of a deal by HgCapital, a UK-based private equity firm, to buy Visma, ASA, a Norwegian software company. Visma has received an offer from Sage Group, a strategic acquirer. HgCapital must determine if it wants to bid and how to outbid... View Details

Keywords: Management Buyout; Deal Structuring; Negotiations; Private Equity; Finance; Valuation; Leveraged Buyouts; Negotiation Deal; Negotiation; Strategy; Europe

10 Apr 2019
HBS Case

How Entrepreneurs Can Turn Lead Into Gold

Entrepreneurs aren’t short on ideas for exciting new products or companies, but they are often short-sighted when it comes to finding ways to fund and build those projects. “There is a huge amount of discussion about how you come up with... View Details

Keywords: by Michael Blanding; Financial Services

August 2014
Article

What Makes Annuitization More Appealing?

By: John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian and Stephen P. Zeldes

We conduct and analyze two large surveys of hypothetical annuitization choices. We find that allowing individuals to annuitize a fraction of their wealth increases annuitization relative to a situation where annuitization is an "all or nothing" decision. Very few... View Details

Keywords: Annuity; Pension; Retirement Income; Framing; Annuities; Retirement

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2024
Working Paper

Hidden Alpha

By: Manuel Amman, Alexander Cochardt, Lauren Cohen and Stephan Heller

This paper documents the central role of hidden connections between fund managers and firm officers in financial markets, drawing on an extensive dataset of over 100 thousand manually identified Facebook profiles and their 35 million Facebook friends. Our findings... View Details

Keywords: Returns; Investment Return; Networks