Publications

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

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

December 2022 (Revised August 2023)
Case

Ribbit Capital and the Gauntlet Investment Opportunity

By: Shai Bernstein and Allison M. Ciechanover

Ten-year-old, Palo Alto-based Ribbit Capital is best-known for its global investments in fintech. The firm was also an early advocate of crypto and blockchain, having invested in more than two dozen startups in the space in the past decade. In the Spring of 2022,... View Details

Keywords: Alternative Assets; Cryptocurrency; Business Startups; Investment Portfolio; Decision Choices and Conditions; Negotiation Deal; Governing Rules, Regulations, and Reforms; Venture Capital; Financial Services Industry; California

June 2012 (Revised August 2014)
Supplement

Foreign Direct Investment and South Africa (B)

By: Eric Werker and Ian McKown Cornell

Incoming and outgoing foreign direct investment in an environment of politics, geography, globalization, and history. Updates the 2006 case to 2012. The subsequent six years only reinforce the message of the original case. Since the end of apartheid, South Africa had... View Details

Keywords: Global Business; Developing Countries; Business Government Relations; Economic Growth; Foreign Direct Investment; Globalized Markets and Industries; Developing Countries and Economies; Business and Government Relations; South Africa

February 2015
Article

Corporate Investment and Stock Market Listing: A Puzzle?

By: John Asker, Joan Farre-Mensa and Alexander Ljungqvist

We investigate whether short-termism distorts the investment decisions of stock market listed firms. To do so, we compare the investment behavior of observably similar public and private firms using a new data source on private U.S. firms, assuming for identification... View Details

Keywords: Private Ownership; Public Ownership; Corporate Finance

SSRN

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March 1993 (Revised July 1994)
Case

Gerber Products Company: Investing in the New Poland

By: Debora L. Spar

Examines Gerber Products Co.'s evaluation of Alima S.A., one of Poland's largest food processing plants, as a potential overseas investment in 1991. Factors that influenced Gerber's decision are discussed in detail: property rights, taxation issues, and Poland's... View Details

Keywords: Foreign Direct Investment; Food and Beverage Industry; Poland

26 Aug 2002
Research & Ideas

High-Stakes Decision Making: The Lessons of Mount Everest

and insufficient confidence on the other. Leaders must act decisively when faced with challenges, and they must inspire others to do so as well. A lack of confidence can enhance anticipatory regret, or the apprehension that individuals... View Details

Keywords: by Michael A. Roberto

05 Mar 2007
Research & Ideas

Risky Business? Protecting Foreign Investments

appeals process for arbitration. The appellate body must have membership that broadly reflects the interests of the various parties involved (as does the WTO appellate process). Currently, we have no "legislation" to govern investment... View Details

Keywords: by Sean Silverthorne; Energy; Utilities

Research Summary

Corporate Investment and Stock Market Listing: A Puzzle?

In joint work with John Asker and Alexander Ljungqvist, we investigate whether short-termism distorts the investment decisions of stock market listed firms. To do so, we compare the investment behavior of observably similar public and private firms using a new... View Details

25 May 2011
HBS Case

QuikTrip’s Investment in Retail Employees Pays Off

flexibility: QuikTrip can easily transfer employees and managers from one store to another." QuikTrip makes decisions that increase costs in the short term but offer long-run benefits. For example, it View Details

Keywords: by Julia Hanna; Retail

June 2007 (Revised December 2007)
Case

AFL-CIO: Office of Investment and Home Depot

By: Rakesh Khurana and James Weber

Describes the AFL-CIO: Office of Investments activities in their campaign to improve governance at Home Depot by calling attention to Home Depot CEO Robert Nardelli's compensation package and the company's poor performance. The AFL-CIO Office of Investments advocates... View Details

Keywords: Investment; Corporate Governance; Governing and Advisory Boards; Executive Compensation; Labor Unions; Organizational Change and Adaptation; Business and Shareholder Relations

May 2010 (Revised January 2014)
Case

Water Shortage and Property Investing in Mexico City

By: John D. Macomber, Regina Garcia-Cuellar and Griffin James

A commercial property company evaluates water risks including the government's ability to remedy, the company's operating exposure and mitigation, and whether to relocate because of water risk. A real estate fund manager assesses investment prospects in Mexico City in... View Details

Keywords: Private Equity; Investment; Risk Management; Infrastructure; Privatization; Business and Government Relations; Partners and Partnerships; Financial Services Industry; Real Estate Industry; Utilities Industry; Mexico City

June 1997 (Revised February 2000)
Case

Walker and Company: Profit Plan Decisions

By: Robert L. Simons and Ramsey Walker

Ramsey Walker, a second-year MBA student, must decide how to control a family business as an absentee owner. After providing background details on the publishing industry, the case requires the reader to: 1) make a product segmentation decision; 2) prepare a profit... View Details

Keywords: Organizational Structure; Family and Family Relationships; Market Design; Management Systems; Planning; Profit; Performance Evaluation; Segmentation; Corporate Strategy; Investment Return; Publishing Industry

19 Mar 2006
Research & Ideas

Unlocking Your Investment Capital

Many companies can double or even triple their capacity to invest in strategic assets and competencies by properly managing their "risk balance sheet," argues Harvard Business School professor Robert C. Merton. In a provocative... View Details

Keywords: by Ann Cullen; Financial Services

October 2022
Supplement

The SAH Group: The Time is Right, Instructor Spreadsheet

By: Juan Alcacer and Alpana Thapar

In January 2021, Jalila Mezni, CEO of the SAH Group, was preparing to present the company’s future growth plans to its board of directors. The Tunisian company was a leading producer and distributor of personal care and packaged hygiene products. In 2019, it expanded... View Details

Keywords: Growth Strategy; Entrepreneurship; Investment Decisions; Growth Management; Vertical Integration; Distribution; Competition; Strategy; Supply Chain; Presentations; Product Positioning; Market Entry and Exit; Consumer Products Industry; Pulp and Paper Industry; Health Industry; Tunisia