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TeachingInterests

Managing International Trade and Investment

By: Dante Roscini

Managing International Trade and Investment (MITI) is designed for students who expect to engage directly or indirectly in commerce and in strategic or financial investments across national borders. It covers concepts that are relevant to a number of operating and... View Details

July 1996 (Revised August 2017)
Case

Continuous Casting Investments at USX Corporation

By: Clayton Christensen

Focuses on the difficulty established companies face when confronted with disruptive technological innovations. The power that their prior asset investments, their cost structures, and their customers have in constraining their investment and innovation decisions are... View Details

Keywords: Disruption; Assets; Cost; Investment; Technological Innovation; Problems and Challenges; Mining Industry; Real Estate Industry

January 1995
Case

Keller Fund's Option Investment Strategies, The

By: W. Carl Kester

A closed-end mutual fund's decision to study option trading provides an opportunity to study the profit profile and pricing of multiple option investment strategies (e.g., buy a call, buy a put, write a call, buy stock-write call, etc.). This case is designed to... View Details

Keywords: Investment Funds; Stock Options; Profit; Price; Strategy; Financial Services Industry

05 Oct 2011
Working Paper Summaries

Doing What the Parents Want? The Effect of the Local Information Environment on the Investment Decisions of Multinational Corporations

Keywords: by Nemit O. Shroff, Rodrigo S. Verdi & Gwen Yu

2024
Working Paper

What Do Impact Investors Do Differently?

By: Shawn Cole, Leslie Jeng, Josh Lerner, Natalia Rigol and Benjamin N. Roth

In recent years, impact investors – private investors who seek to generate simultaneously financial and social returns – have attracted intense interest and controversy. We analyze a novel, comprehensive data set of impact and traditional investors to assess how the... View Details

Keywords: ESG; Socially Responsible Investing; Investment Decisions; Public Goods; Impact Investment; Investment; Private Equity; Venture Capital

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September 2022
Article

Find and Replace: R&D Investment Following the Erosion of Existing Products

By: Joshua L. Krieger, Xuelin Li and Richard T. Thakor

How do innovative firms react when existing products experience negative shocks? We explore this question with detailed project-level data from drug development firms. Using FDA Public Health Advisories as idiosyncratic negative shocks to approved drugs, we first... View Details

Keywords: R＆D Investments; Drug Development; Product Shocks; M＆A; Biopharmaceutical Industry; FDA; System Shocks; Research and Development; Investment; Decision Making; Pharmaceutical Industry

05 Aug 2010
News

Google Wave Decision Shows Strong Innovation Management

May 2004 (Revised October 2007)
Background Note

Best Practices: Decision Making Among Venture Capital Firms

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

Describes investment decision-making processes, based on interviews with 56% of the top 38 venture capital firms in the country. Discusses some implications for the future growth of the industry. View Details

Keywords: Decision Making; Venture Capital; Investment; Industry Growth

21 Sep 2010
News

Investing in Experience

Keywords: Securities, Commodities, and Other Financial Investments; Securities, Commodities, and Other Financial Investments

February 2008 (Revised May 2008)
Case

Tad O'Malley: The Investment Conundrum

By: Felda Hardymon, Josh Lerner and Ann Leamon

Tad O'Malley has just started as an associate with Empire Investment Group. He must evaluate three investment opportunities facing the big leveraged buyout firm. All are global, but each pertains to different offices and each deal has different strengths and... View Details

Keywords: Leveraged Buyouts; Decision Choices and Conditions; Private Equity; Investment; Strength and Weakness; Negotiation Deal; Personal Development and Career

October 2001 (Revised February 2002)
Case

Acme Investment Trust: January 2001

By: Josh Lerner

The managers of a large corporate pension fund must decide whether to invest in a private equity fund that is offering a guaranteed rate of return of 20% on part of its portfolio. The background behind and implications of the guarantee are explored. View Details

Keywords: Decisions; Private Equity; Motivation and Incentives; Asset Management; Investment Funds; Financial Strategy; Financial Services Industry

1965
Article

Group Decision Making: A Report of an Experimental Study

By: Joseph L. Bower

When a group of people must decide on some one action, such as where shall we go out to dinner, or in an investment club which stock shall we buy, how do the individual members come to a decision that affords the best resolution of the question at hand for the group as... View Details

Keywords: Groups and Teams; Decision Making; Conflict Management

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Teaching Interest

Investment Managment for Professional and Personal Investors

By: Luis M. Viceira

IMPPI is suitable for all students interested in gaining a broad perspective on investing and the asset management business, including those targeting careers in asset management and those interested in learning how to become sophisticated consumers of investment... View Details

October 2012 (Revised September 2015)
Case

Altoona State Investment Board: July 2012

By: Josh Lerner and Nathaniel Burbank

Considers the decision faced by state pension fund manager Rod Calhoun as he decides whether to invest $200 million in Bain Capital's eleventh global buyout fund: Bain Capital Fund XI. For the fund, Bain was offering its limited partners a choice between three... View Details

Keywords: Management Fees; Bain Capital; Venture Capital; Private Equity; Leveraged Buyouts; Banking Industry; Boston

22 May 2017
News

Two On-Track Investments

Photo via the Baltimore Sun Photo via the Baltimore Sun There are no sure bets in Thoroughbred racing—but for many, the thrill of watching a horse thundering down the track far outweighs the risk of loss, whether the stake is a $2 bet or a $200,000 View Details

Keywords: horse racing; Performing Arts, Spectator Sports, and Related Industries; Arts, Entertainment

November 2012
Case

CSIRO: The Light Metals Flagship Decision

By: Willy Shih, Margaret P. Pierson and Dawn Lau

This case explores the challenge of investing in basic research as a public good. CSIRO was Australia's leading science and research agency, and it was chartered to enhance national prosperity through R&D. Its Flagships program was designed to align research interests... View Details

Teaching Interest

Large-Scale Investment (LSI, MBA Elective Curriculum)

By: Benjamin C. Esty

Large-Scale Investment (LSI) is a case-based course about project finance that is designed for second-year MBA students. Project finance involves the creation of a legally independent project company financed with nonrecourse debt for the purpose of investing in a... View Details

Keywords: Project Finance; Corporate Finance; Corporate Governance; Valuation; Capital Budgeting

July 2003 (Revised December 2003)
Case

Investment Policy at New England Healthcare

By: Jay O. Light, Luis M. Viceira and Akiko M. Mitsui

The Investment Committee of New England Healthcare must decide how to invest three long-term investment pools: a long-term, endowment-type fund and two pension plans. In particular, the committee is evaluating whether the two pension funds--one is a "final salary"... View Details

Keywords: Decisions; Asset Management; Investment; Investment Portfolio; Policy; Taxation; Health Industry; England

April 2007 (Revised August 2014)
Case

Foreign Direct Investment and South Africa (A)

By: Eric Werker

Incoming and outgoing foreign direct investment in an environment of politics, geography, globalization, and history. Since the end of apartheid, South Africa had undertaken substantial economic reforms in order to attract more foreign direct investment, but it was... View Details

Keywords: Decision Choices and Conditions; Macroeconomics; Foreign Direct Investment; Governing Rules, Regulations, and Reforms; Business and Government Relations; Africa; South Africa