Publications

January 2017
Case

The Six CEOs of Tyco International Ltd.

By: John R. Wells and Gabriel Ellsworth

In September 2016, Johnson Controls, Inc. completed the acquisition of Tyco International PLC, a $9.9 billion business with operating profits of $884 million. The purchase consideration was $14.4 billion. Although the deal was billed as a merger, Ireland-based Tyco... View Details

Keywords: Tyco; Dennis Kozlowski; Edward Breen; Fire Safety; Fire Protection; Security; Packaging; Securities And Exchange Commission; Fraud; Accounting; Accounting Audits; Earnings Management; Financial Statements; Goodwill Accounting; Acquisition; Mergers and Acquisitions; Business Conglomerates; Business Divisions; Business Exit or Shutdown; Business Growth and Maturation; Business Headquarters; Business Model; Business Organization; For-Profit Firms; Restructuring; Crime and Corruption; Engineering; Applied Optics; Chemicals; Construction; Metals and Minerals; Ethics; Finance; Cash Flow; Public Equity; Stock Options; Financing and Loans; Initial Public Offering; Profit; Revenue; Geographic Location; Geographic Scope; Global Range; Globalized Firms and Management; Multinational Firms and Management; Corporate Accountability; Corporate Disclosure; Health Care and Treatment; Business History; Executive Compensation; Selection and Staffing; Courts and Trials; Lawfulness; Lawsuits and Litigation; Business or Company Management; Goals and Objectives; Growth and Development Strategy; Market Entry and Exit; Public Ownership; Problems and Challenges; Strategy; Business Strategy; Competition; Competitive Strategy; Competitive Advantage; Consolidation; Corporate Strategy; Diversification; Expansion; Horizontal Integration; Value; Chemical Industry; Construction Industry; Consumer Products Industry; Electronics Industry; Energy Industry; Industrial Products Industry; Manufacturing Industry; Medical Devices and Supplies Industry; Mining Industry; Pharmaceutical Industry; Semiconductor Industry; Telecommunications Industry; Utilities Industry; Republic of Ireland; Switzerland; Bermuda; United States; New Hampshire

04 Apr 2018
Research & Ideas

Smart Cities are Complicated and Costly: Here's How to Build Them

Chombosan Much promotion of smart cities assumes that municipalities will take a proactive, top-down, technology-first approach to urban progress. Thus far, these initiatives look for some forward-thinking city official (or immensely deep-pocketed private investor) to... View Details

Keywords: by John Macomber; Construction; Green Technology

02 Feb 2022
Blog Post

How I Spent My HBS 2+2 Deferral: Nikki Philip

and a community savings and loans cooperative in Migori County, Kenya. At Lwala I worked in Monitoring & Evaluation, Program Design & Implementation, and Development. After two and a half years at Lwala I took a position in Player... View Details

Web

2022 Reunion Presentations - Alumni

gaps in access to credit. An explosion of new online fintech lenders is providing small-dollar loans to businesses within days, with easy online applications and innovative credit algorithms. Is this a good development for America’s small... View Details

Research Summary

Overview

Having grown up in a developing country, Professor Sikochi’s research focus is driven by a desire to understand how capital flows to firms and entrepreneurs with the ultimate goal to help build capital markets in the developing economies. To this end, he conducts... View Details

February 1997 (Revised May 1998)
Case

Tire City, Inc.

By: W. Carl Kester

A small, rapidly growing retail distributor of automotive tires must present a set of forecasted financial statements to a bank in order to obtain a five-year loan. Expected growth rates given in the case and historical financial ratios derived from recent financial... View Details

Keywords: Financial Statements; Forecasting and Prediction; Financing and Loans; Price; Supply Chain; Distribution Industry; Retail Industry

16 Jul 2013
First Look

First Look: July 16

Publications 2013 pub The Network Secrets of Great Change Agents By: Battilana, Julie, and Tiziana Casciaro Abstract—Change is hard, especially in a large organization. Yet some leaders succeed-often spectacularly-at transforming their workplaces. What makes them... View Details

Keywords: Anna Secino

01 Oct 2009
Working Paper Summaries

Systemic Risk and the Refinancing Ratchet Effect

Keywords: by Amir E. Khandani, Andrew W. Lo & Robert C. Merton; Construction; Real Estate

August 2023 (Revised February 2024)
Case

DexAI

By: Jo Tango and Christina Wallace

During a challenging fundraising environment, the DexAI founders received two term sheets with nearly identical economic terms but very different legal ones. The entrepreneurs had to navigate: representations and warranties (their personal guarantees that the company's... View Details

Keywords: Venture Capital Term Sheet; Term Sheet; Term Sheets; Founders; Legal Aspects Of Business; Seed Financing; Founders' Agreements; Venture Capital; Entrepreneurship; Financing and Loans; Intellectual Property; Entrepreneurial Finance; Contracts; Business Startups; Agreements and Arrangements

November 1999
Case

Long-Term Capital Management, L.P. (C)

By: Andre F. Perold

Long-Term Capital Management, L.P. (LTCM) was in the business of engaging in trading strategies to exploit market pricing discrepancies. Because the firm employed strategies designed to make money over long horizons--from six months to two years or more--it adopted a... View Details

Keywords: Fluctuation; Capital; Financial Liquidity; Financing and Loans; Investment Funds; Investment Portfolio; Corporate Governance; Governing Rules, Regulations, and Reforms; Management; Risk Management; Markets; Motivation and Incentives; Financial Services Industry

April 2005 (Revised August 2011)
Case

Berkshire Partners: Bidding for Carter's

By: Malcolm P. Baker and James Quinn

A five-member team from Berkshire Partners must recommend a final bid and financial structure for a leveraged buyout of William Carter Co., a leading producer of children's apparel. Investorcorp, a global investment group, has put the company up for auction. Goldman... View Details

Keywords: Leveraged Buyouts; Capital Structure; Private Equity; Financing and Loans; Auctions; Bids and Bidding; Valuation; Apparel and Accessories Industry

28 May 2020
Research & Ideas

Coronavirus Could Create a 'Bankruptcy Pandemic'

for a large publicly traded company (although much faster prepackaged or prenegotiated bankruptcies are sometimes possible) —creditors are temporarily held at bay, and are not able to exercise remedies normally available to them when there is a default, such as calling... View Details

Keywords: by Dina Gerdeman; Financial Services; Banking

Web

A Tradition of Philanthropy - Alumni

and New York business communities. 1910 Four donors contribute $850 to start a loan fund intended to make the School accessible to those with limited means. 1918 A group of businessmen give 1.3 million square feet of marshland (viewed... View Details

Web

CORe Undergraduate Credit | HBS Online

(May CORe cohort) and eligible for student privileges like a Harvard University ID number (to access online library resources), free career and academic webinars, a Harvard Gmail account, and education tax credit and loan deferments. Upon... View Details

March 2010 (Revised June 2010)
Case

Malden Mills (A) (Abridged)

By: Nitin Nohria and Thomas R. Piper

CEO Aaron Feuerstein of Malden Mills decided to pay idled workers after a massive fire at his mill in 1995. Focuses on the decisions made post-fire and the rebuilding process and eventual bankruptcy of the company. Also outlines creditors' struggle to decide whether to... View Details

Keywords: Insolvency and Bankruptcy; Financing and Loans; Employees; Leadership; Crisis Management; Social Issues; Manufacturing Industry; Massachusetts