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Show Results For
- All HBS Web
(3,553)
- People (5)
- News (689)
- Research (2,322)
- Events (11)
- Multimedia (6)
- Faculty Publications (1,413)
- January 2018 (Revised April 2021)
- Case
Capital Allocation at HCA
By: W. Carl Kester and Emily R. McComb
In early 2017, HCA Holdings, an investor-owned hospital management company, faced a strategically important capital allocation decision. After the exit of its private equity sponsors in 2016, HCA had to determine how best to allocate its substantial annual free cash... View Details
Keywords: Capital Allocation; Cash Distribution Policy; Dividends; Share Repurchases; Growth Strategy And Execution; Growth Investing; Capital Expenditures; Debt Management; Debt Reduction; Debt Policy; Hospital Management; Investor-owned Hospital Chains; Capital Budgeting; Capital Structure; Cash Flow; Corporate Finance; Decision Choices and Conditions; Health Industry; United States
Kester, W. Carl, and Emily R. McComb. "Capital Allocation at HCA." Harvard Business School Case 218-039, January 2018. (Revised April 2021.)
- summer 1988
- Article
Simultaneous Signaling to the Capital and Product Markets
By: David S. Scharfstein, Robert Gertner and Robert Gibbons
Scharfstein, David S., Robert Gertner, and Robert Gibbons. "Simultaneous Signaling to the Capital and Product Markets." RAND Journal of Economics 19, no. 2 (summer 1988): 173–190.
- May 2007
- Article
Capital Flows and Capital Goods
By: Laura Alfaro and Eliza Hammel
Studying the relation between equity market liberalization and imports of capital goods, we examine one channel through which international financial integration can promote growth. For the period 1980–1997, we find that after controlling for other policies and... View Details
Keywords: Cash Flow; Equity; Financial Markets; Economy; Distribution Channels; Machinery and Machining; Capital
Alfaro, Laura, and Eliza Hammel. "Capital Flows and Capital Goods." Journal of International Economics 72, no. 1 (May 2007): 128–150. (Link to working paper version.)
- November 2006 (Revised May 2007)
- Background Note
International Capital Markets and Sovereign Debt: Crisis Avoidance and Resolution
By: Laura Alfaro and Ingrid Vogel
Successive economic crises of the 1990s and early 2000s intensified focus on reform of the "international financial architecture." Because many of these crises involved defaults on sovereign bonds, an important component of the discussion revolved around the... View Details
Alfaro, Laura, and Ingrid Vogel. "International Capital Markets and Sovereign Debt: Crisis Avoidance and Resolution." Harvard Business School Background Note 707-018, November 2006. (Revised May 2007.)
- August 1998
- Article
Venture Capital Growing Pains: Should the Market Diet?
By: Paul A. Gompers
Gompers, Paul A. "Venture Capital Growing Pains: Should the Market Diet?" Special Issue on The Economics of Small Business Finance. Journal of Banking & Finance 22, nos. 6-8 (August 1998): 1089–1104.
- August 2009
- Article
Multinational Firms, FDI Flows and Imperfect Capital Markets
By: Pol Antras, Mihir Desai and C. Fritz Foley
Antras, Pol, Mihir Desai, and C. Fritz Foley. "Multinational Firms, FDI Flows and Imperfect Capital Markets." Quarterly Journal of Economics 124, no. 3 (August 2009): 1171–1219.
- December 2002
- Article
Learning about Internal Capital Markets from Corporate Spinoffs
By: Robert Gertner, Eric Powers and David S. Scharfstein
Gertner, Robert, Eric Powers, and David S. Scharfstein. "Learning about Internal Capital Markets from Corporate Spinoffs." Journal of Finance 57, no. 6 (December 2002): 2479–2506.
- December 1984
- Article
Unionization and Profitability: Evidence from the Capital Market
By: M. B. Zimmerman and R. S. Ruback
Zimmerman, M. B., and R. S. Ruback. "Unionization and Profitability: Evidence from the Capital Market." Journal of Political Economy 92, no. 6 (December 1984): 1134–1157.
- Web
Investment Management and Capital Markets - Course Catalog
HBS Course Catalog Investment Management and Capital Markets Course Number 1446 Professor Luis Viceira Assistant Professor Emil Siriwardane Fall; Q1Q2; 3.0 credits 28 sessions Exam IMCM is suitable for all... View Details
- 2007
- Chapter
Labor Market Regulations and European Venture Capital Investment
By: Ant Bozkaya and William R. Kerr
- Article
Capital Market-Driven Corporate Finance
By: Malcolm Baker
Much of empirical corporate finance focuses on sources of the demand for various forms of capital, not the supply. Recently, this has changed. Supply effects of equity and credit markets can arise from a combination of three ingredients: investor tastes, limited... View Details
Keywords: Behavioral Finance; Limits To Arbitrage; Market Efficiency; Securities Issuance; Supply Effects; Corporate Finance; Investment; Price; Capital Markets; Equity; Financial Services Industry
Baker, Malcolm. "Capital Market-Driven Corporate Finance." Annual Review of Financial Economics 1 (2009): 181–205.
- 2007
- Working Paper
Multinational Firms, FDI Flows and Imperfect Capital Markets
By: Pol Antras, Mihir A. Desai and C. Fritz Foley
Antras, Pol, Mihir A. Desai, and C. Fritz Foley. "Multinational Firms, FDI Flows and Imperfect Capital Markets." NBER Working Paper Series, No. 12855, January 2007.
- Research Summary
The Role of Financial and Information Intermediaries in the Capital Markets
Hutton's research investigates the role of financial analysts and short sellers in the pricing of equity securities. Recently, Hutton examines (with Patricia Dechow and Richard Sloan) the role of sell-side analysts' earnings forecasts in the pricing of common equity... View Details
- 1972
- Chapter
The Foundation and Current State of Capital Market Theory
By: Michael C. Jensen
Jensen, Michael C. "The Foundation and Current State of Capital Market Theory." In Studies in the Theory of Capital Markets, edited by M. C. Jensen. New York: Praeger, 1972.
- October 2019 (Revised January 2020)
- Case
NewView Capital and Venture Capital Secondaries
By: Shai Bernstein, Ramana Nanda and Allison Ciechanover
While still a general partner at Silicon Valley–based New Enterprise Associates (NEA), Ravi Viswanathan considered the challenges presented by evolving market dynamics in the venture capital space. Startups were staying private longer, which led to limited partners... View Details
Bernstein, Shai, Ramana Nanda, and Allison Ciechanover. "NewView Capital and Venture Capital Secondaries." Harvard Business School Case 820-038, October 2019. (Revised January 2020.)
- August 2019
- Case
Humanistic Capitalism at Brunello Cucinelli
By: Francesca Gino and Gary Pisano
This case explores one company’s attempt to experiment with a different underlying model for a capitalist enterprise. Brunello Cucinelli, S.p.A. is a leading manufacturer of luxury fashion apparel. Despite being a publicly traded enterprise with annual revenues... View Details
Keywords: Corporate Culture; Human Resource Practices; Growth; Growth Strategy; Motivation; Values; Fashion; Capitalism; Organizational Culture; Values and Beliefs; Human Resources; Management; Business Model; Policy; Behavior; Growth and Development Strategy; Luxury; Italy
Gino, Francesca, and Gary Pisano. "Humanistic Capitalism at Brunello Cucinelli." Harvard Business School Case 920-007, August 2019.
- December 2020
- Article
Stock Market Returns and Consumption
By: Marco Di Maggio, Amir Kermani and Kaveh Majlesi
This paper employs Swedish data containing security level information on households' stock holdings to investigate how consumption responds to changes in stock market returns. We exploit households’ portfolio weights in previous years as an instrument for actual... View Details
Keywords: Capital Gain; Dividend Income; Consumption; Near-rational Behavior; Investment Return; Household; Spending; Behavior
Di Maggio, Marco, Amir Kermani, and Kaveh Majlesi. "Stock Market Returns and Consumption." Journal of Finance 75, no. 6 (December 2020): 3175–3219. (DFA Distinguished Paper Prize.)
- Article
Evidence on the Dark Side of Internal Capital Markets
By: David S. Scharfstein and Oguzhan Ozbas
Scharfstein, David S., and Oguzhan Ozbas. "Evidence on the Dark Side of Internal Capital Markets." Review of Financial Studies 23, no. 2 (February 2010): 581–599.