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- Faculty Publications (465)
Show Results For
- All HBS Web
(922)
- People (1)
- News (261)
- Research (583)
- Events (1)
- Multimedia (13)
- Faculty Publications (465)
- April 2000
- Case
Francisco Partners
By: Josh Lerner and David L. Gallo
Francisco Partners (which focuses on buyouts of high-technology firms) aims to be the largest first-time fund ever raised. The rationales for the fund, fundraising strategy, and partnership terms and conditions are among the topics explored. View Details
Keywords: Private Equity; Leveraged Buyouts; Venture Capital; Financial Strategy; Partners and Partnerships; Strategy; Investment Funds; Financial Services Industry
Lerner, Josh, and David L. Gallo. "Francisco Partners." Harvard Business School Case 200-063, April 2000.
- 26 Jan 2010
- First Look
First Look: Jan. 26
impact of open source on consumers, firms, and economic growth in general. This book fills that gap. In The Comingled Code, Josh Lerner and Mark Schankerman, drawing on a new, large-scale database, show that... View Details
Keywords: Martha Lagace
- January 1997 (Revised November 1997)
- Case
Fojtasek Companies and Heritage Partners, The: March 1995
By: Samuel L. Hayes III and Josh Lerner
The Fojtasek Companies, a family business, faces several financing choices to address generational succession issues. Several buyouts have expressed interest in acquiring the firm outright; an investment bank has proposed a leveraged recapitalization; and a private... View Details
Keywords: Family Ownership; Financing and Loans; Private Equity; Mergers and Acquisitions; Investment Banking; Partners and Partnerships; Management Succession; Capital Structure; Financial Strategy
Hayes, Samuel L., III, and Josh Lerner. "Fojtasek Companies and Heritage Partners, The: March 1995." Harvard Business School Case 297-046, January 1997. (Revised November 1997.)
- 2022
- Working Paper
Racial Diversity in Private Capital Fundraising
By: Johan Cassel, Josh Lerner and Emmanuel Yimfor
Black- and Hispanic-owned funds control a very modest share of assets in the private capital
industry. We find that the sensitivity of follow-on fundraising to fund performance
is greater for minority-owned groups, particularly for underperforming groups. We... View Details
Keywords: Buyouts; Capital Formation; Minorities; Venture Capital; Minority-owned Businesses; Race; Diversity; Investment Funds; Financial Services Industry
Cassel, Johan, Josh Lerner, and Emmanuel Yimfor. "Racial Diversity in Private Capital Fundraising." Harvard Business School Working Paper, No. 23-020, September 2022. (Revise and resubmit, Journal of Financial Economics.)
- Article
Private Equity and Portfolio Companies: Lessons from the Global Financial Crisis
By: Shai Bernstein, Josh Lerner and Filippo Mezzanotti
Bernstein, Shai, Josh Lerner, and Filippo Mezzanotti. "Private Equity and Portfolio Companies: Lessons from the Global Financial Crisis." Journal of Applied Corporate Finance 32, no. 3 (Summer 2020): 21–41.
- Web
“It’s like a pie-eating contest” | Social Enterprise | Harvard Business School
“It’s like a pie-eating contest” One night during his RC year at HBS, Josh Latson (MBA 2015) shadowed an emergency room physician through his rounds in a busy urban hospital. Josh was there as a member of... View Details
- 01 Sep 2020
- News
Maintaining a Resilient Democracy
1978), a Republican from Indiana, and Representative Josh Harder (MBA/MPP 2014), a Democrat serving California’s 10th Congressional district, have much in common. Both ran for office in 2018, motivated by a... View Details
Keywords: Deb Blagg
- 1999
- Report
Capital Formation and Investment in Venture Markets: Implications for the Advanced Technology Program
By: Josh Lerner and Paul A. Gompers
Lerner, Josh, and Paul A. Gompers. "Capital Formation and Investment in Venture Markets: Implications for the Advanced Technology Program." Report, 1999 (Condensed version published in Richard N. Spivack, editor, Papers and Proceeedings of the Advanced Technology Program's International Conference on the Economic Evaluation of Technological Change. NIST Special Publication 952, National Institutes of Standards and Technology, 2001, pp. 15-21.)
- fall 1997
- Article
Venture Capital and the Creation of Public Companies: Do Venture Capitalists Really Bring More than Money?
By: Paul A. Gompers and Josh Lerner
Gompers, Paul A., and Josh Lerner. "Venture Capital and the Creation of Public Companies: Do Venture Capitalists Really Bring More than Money?" Journal of Private Equity 1, no. 1 (Fall 1997): 15–32.
- February 2004 (Revised November 2012)
- Exercise
Capital Investment Analysis
By: Dwight B. Crane and Josh Lerner
Teaches techniques of evaluating investment alternatives. A rewritten version of an earlier exercise. View Details
Crane, Dwight B., and Josh Lerner. "Capital Investment Analysis." Harvard Business School Exercise 204-140, February 2004. (Revised November 2012.)
- February 2003 (Revised May 2003)
- Case
Accel Partners' European Launch
By: G. Felda Hardymon and Josh Lerner
In spring 2001, with the venture market crashing all around, the London office of Accel Partners, a major west coast venture capital firm, needs to make a decision about investing in an Irish software company. As the first investment of the new European operation, the... View Details
Keywords: Investment; Growth and Development Strategy; Venture Capital; Global Strategy; Decision Choices and Conditions; Expansion; Management Practices and Processes; Partners and Partnerships; Financial Services Industry; London; United States
Hardymon, G. Felda, and Josh Lerner. "Accel Partners' European Launch." Harvard Business School Case 803-021, February 2003. (Revised May 2003.)
- Article
The Control of Technology Alliances: An Empirical Analysis of the Biotechnology Industry
By: Josh Lerner and Robert P. Merges
Lerner, Josh, and Robert P. Merges. "The Control of Technology Alliances: An Empirical Analysis of the Biotechnology Industry." Journal of Industrial Economics 46, no. 2 (June 1998): 125–156. (Special Symposium "Inside the Pin Factory": Empirical Studies Augmented by Manager Interviews.)
- May 1996 (Revised November 1997)
- Case
Northeast Ventures: January 1996
By: Josh Lerner and Eric K. Jackson
Northeast Ventures, a venture capital fund focusing on the development of northeastern Minnesota, seeks to combine social goals with financial returns. This marriage poses several challenges. View Details
Lerner, Josh, and Eric K. Jackson. "Northeast Ventures: January 1996." Harvard Business School Case 296-093, May 1996. (Revised November 1997.)
- October 1995 (Revised November 1997)
- Supplement
Apex Investment Partners (B): May 1995
By: Josh Lerner and Sanjiv R. Das
Examines the warrant pricing. View Details
Keywords: Financial Instruments
Lerner, Josh, and Sanjiv R. Das. "Apex Investment Partners (B): May 1995." Harvard Business School Supplement 296-029, October 1995. (Revised November 1997.)
- 2017
- Chapter
Venture Capital Data: Opportunities and Challenges
By: Steven N. Kaplan and Josh Lerner
This paper describes the available data and research on venture capital investments and performance. We comment on the challenges inherent in those data and research as well as possible opportunities to do better. View Details
Kaplan, Steven N., and Josh Lerner. "Venture Capital Data: Opportunities and Challenges." Chap. 10 in Measuring Entrepreneurial Businesses: Current Knowledge and Challenges. Vol. 75, edited by John Haltiwanger, Erik Hurst, Javier Miranda, and Antoinette Schoar. Studies in Income and Wealth (NBER). Chicago: University of Chicago Press, 2017.
- 2003
- Chapter
Short-Term America Revisited? Boom and Bust in the Venture Capital Industry and the Impact on Innovation
By: Josh Lerner and Paul A. Gompers
This chapter seeks to understand the implications of the recent decline in venture activity for innovation. It argues that the situation may not be as grim as it initially appears. While there are many reasons for believing that on average venture capital has a... View Details
Keywords: Venture Capital; Innovation and Invention; Business Cycles; Financial Services Industry; United States
Lerner, Josh, and Paul A. Gompers. "Short-Term America Revisited? Boom and Bust in the Venture Capital Industry and the Impact on Innovation." In Innovation Policy and the Economy, Volume 3, edited by Adam B. Jaffe, Josh Lerner, and Scott Stern, 1–28. MIT Press, 2003.
- December 1999 (Revised November 2001)
- Background Note
Note on Private Equity Securities, A
By: G. Felda Hardymon and Josh Lerner
Provides an overview of the primary securities used in private equity, their structures, and the economic motivation behind their designs. View Details
Hardymon, G. Felda, and Josh Lerner. "Note on Private Equity Securities, A." Harvard Business School Background Note 200-027, December 1999. (Revised November 2001.)
- summer 2003
- Article
Ownership and Control Rights in Internet Portal Alliances, 1995-1999
By: Daniel W. Elfenbein and Josh Lerner
Elfenbein, Daniel W., and Josh Lerner. "Ownership and Control Rights in Internet Portal Alliances, 1995-1999." RAND Journal of Economics 34, no. 2 (summer 2003).
- April 2024 (Revised August 2024)
- Case
The Israeli Innovation Authority: Decision-making in a Time of Uncertainty
By: Shai Bernstein, Sabrina Howell and Josh Lerner
Bernstein, Shai, Sabrina Howell, and Josh Lerner. "The Israeli Innovation Authority: Decision-making in a Time of Uncertainty." Harvard Business School Case 824-198, April 2024. (Revised August 2024.)
- Winter 2013
- Article
Fear of Rejection? Tiered Certification and Transparency
By: Emmanuel Farhi, Josh Lerner and Jean Tirole
The sub-prime crisis has shone a harsh spotlight on the practices of securities underwriters, which provided too many complex securities that proved to ultimately have little value. This uproar calls attention to the fact that the literature on intermediaries has... View Details
Farhi, Emmanuel, Josh Lerner, and Jean Tirole. "Fear of Rejection? Tiered Certification and Transparency." RAND Journal of Economics 44, no. 4 (Winter 2013): 610–631.