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Show Results For
- All HBS Web
(2,839)
- People (2)
- News (581)
- Research (1,951)
- Events (9)
- Multimedia (27)
- Faculty Publications (1,248)
- 03 Jan 2022
- News
A Green Light for Corruption
- April 2019 (Revised October 2020)
- Case
Kraft Heinz: The $8 Billion Brand Write-Down
By: Jill Avery
On Friday, February 22, 2019, following an unexpected and disappointing earnings report, The Kraft Heinz Company’s stock price fell 27%, wiping out $16 billion in market value. CEO Bernardo Hees had announced that the company had taken a $15.4 billion asset write-down,... View Details
Keywords: Brand Management; Brand Value; Brand Equity; Marketing ROI; Brand Storytelling; Intangible Assets; Brand Valuation; Marketing; Marketing Strategy; Brands and Branding; Management; Corporate Strategy; Consumer Behavior; Food; Marketing Communications; Advertising; Private Equity; Consumer Products Industry; Food and Beverage Industry; United States; North America
Avery, Jill. "Kraft Heinz: The $8 Billion Brand Write-Down." Harvard Business School Case 519-076, April 2019. (Revised October 2020.)
- May–June 2020
- Article
Interfirm Ties Between Ventures and Limited Partners of Venture Capital Funds: Performance Effects in Financial Markets
By: Umit Ozmel, M. Deniz Yavuz, Timothy E. Trombley and Ranjay Gulati
We argue that strong indirect ties are conducive to the transfer of private information, which provides an advantage in identifying profitable investment opportunities. In our context, a strong indirect tie is generated between an investor and a focal firm if the... View Details
Ozmel, Umit, M. Deniz Yavuz, Timothy E. Trombley, and Ranjay Gulati. "Interfirm Ties Between Ventures and Limited Partners of Venture Capital Funds: Performance Effects in Financial Markets." Organization Science 31, no. 3 (May–June 2020): 698–719.
- July 2005 (Revised June 2006)
- Case
Ryanair Holdings plc
Examines the valuation of an Irish airline that reported its first decline in net income in 2004 and saw a 30% stock price drop on the news. Ryanair is a low-cost, low-fare airline headquartered in Dublin, Ireland, operating over 200 routes in 20 countries. The company... View Details
Keywords: Strategy; International Accounting; Analysis; Valuation; Air Transportation; Forecasting and Prediction; Finance; Air Transportation Industry; Dublin
Bradshaw, Mark T. "Ryanair Holdings plc." Harvard Business School Case 106-003, July 2005. (Revised June 2006.)
- February 2023
- Article
Climate Solutions Investments
By: Alex Cheema-Fox, George Serafeim and Hui (Stacie) Wang
An increasing number of companies are providing products and services that help reduce carbon emissions in the economy. We develop a methodology to identify those companies and create a sample of publicly listed climate solutions companies allowing us to study their... View Details
Keywords: Decarbonization; Climate Finance; Climate Impact; Climate Risk; Environment; Sustainability; Carbon Emissions; Electric Vehicles; Energy; Renewables; Climate Change; Corporate Social Responsibility and Impact; Environmental Sustainability; Emerging Markets; Investment Portfolio
Cheema-Fox, Alex, George Serafeim, and Hui (Stacie) Wang. "Climate Solutions Investments." Journal of Portfolio Management 49, no. 3 (February 2023): 72–96.
- December 2015 (Revised May 2017)
- Case
Corning, 2002
By: Malcolm Baker
Corning, with large investments in fiber optic technology, was hit particularly hard by the collapse of the telecommunications industry in 2001. With over $4 billion in debt, the firm's survival appears to rest on raising additional equity capital. James Flaws, the... View Details
- December 2021 (Revised May 2025)
- Case
Bed Bath & Beyond: The New Strategy to Drive Shareholder Value
By: Benjamin C. Esty and Daniel W. Fisher
At one time, Bed Bath & Beyond was one of the most successful specialty retailers in the United States—its growth and profit margins far exceeded both peer retailers in the home goods market as well as many other discount retailers. But in 2014, its stock price peaked,... View Details
Keywords: Competitive Strategy; Competitive Advantage; Value Creation; Diversification; Corporate Governance; Leading Change; Performance Evaluation; Valuation; Investment Activism; Retail Industry; Consumer Products Industry; United States
Esty, Benjamin C., and Daniel W. Fisher. "Bed Bath & Beyond: The New Strategy to Drive Shareholder Value." Harvard Business School Case 722-408, December 2021. (Revised May 2025.)
- November 2008
- Journal Article
Can Research Committees Add Value for Investors? An Analysis of Lehman Brothers' Ten Uncommon Values® Recommendations
By: Boris Groysberg, Paul M. Healy and Yang Gui
Since 1949 Lehman Brothers has used an investment committee to select the top ten recommendations made by its analysts each year. We examine the performance of this committee's recommendations and find that on average its selections generated abnormal returns of 2.7%... View Details
Keywords: Forecasting and Prediction; Stocks; Financial Markets; Investment; Investment Return; Governing Rules, Regulations, and Reforms; Performance Expectations; Groups and Teams; Research; Value Creation
Groysberg, Boris, Paul M. Healy, and Yang Gui. "Can Research Committees Add Value for Investors? An Analysis of Lehman Brothers' Ten Uncommon Values® Recommendations." Journal of Financial Transformation 24 (November 2008): 123–130.
- March–April 2014
- Article
The Low-Risk Anomaly: A Decomposition into Micro and Macro Effects
By: Malcolm Baker, Brendan Bradley and Ryan Taliaferro
Low beta stocks have offered a combination of low risk and high returns. We decompose the anomaly into micro and macro components. The micro component comes from the selection of low beta stocks. The macro component comes from the selection of low beta countries or... View Details
Keywords: Low Volatility; Beta; Portfolio Construction; Market Efficiency; Capital Asset Pricing Model; Asset Management
Baker, Malcolm, Brendan Bradley, and Ryan Taliaferro. "The Low-Risk Anomaly: A Decomposition into Micro and Macro Effects." Financial Analysts Journal 70, no. 2 (March–April 2014): 43–58.
- January 2010 (Revised April 2010)
- Case
Greenbriar Growth Partners and Microsurgery Devices
Greenbriar Growth Partners (GGP), a venture capital (VC) firm, has been an investor in Microsurgery Devices (MSD) for four-plus years and has come into conflict with the company's founder. Should the Board's nominating committee re-nominate the VC investor, and should... View Details
Keywords: Financial Crisis; Venture Capital; Private Equity; Initial Public Offering; Governing and Advisory Boards; Conflict of Interests; Medical Devices and Supplies Industry; United States
El-Hage, Nabil N., and Kristin Elaine Meyer. "Greenbriar Growth Partners and Microsurgery Devices." Harvard Business School Case 310-060, January 2010. (Revised April 2010.)
- May 2014 (Revised April 2016)
- Case
Three-Year Planning at Li & Fung Limited
By: Paul M. Healy and Keith Chi-ho Wong
Having been able to follow its own "three-year plan" on course constantly, Li & Fung Limited fell short of meeting its stretch earnings target for the first time in almost two decades, leading to a double-digit drop in stock price overnight. Questions were raised on... View Details
Keywords: Li & Fung; Financial Planning; Accounting; Financial Reporting; Distribution Industry; Service Industry; Hong Kong; China
Healy, Paul M., and Keith Chi-ho Wong. "Three-Year Planning at Li & Fung Limited." Harvard Business School Case 114-098, May 2014. (Revised April 2016.)
- August 1993 (Revised January 1994)
- Case
Prochnik: Privatization of a Polish Clothing Manufacturer
Prochnik was a large state-owned clothing manufacturer located in the textile-production-intensive region of Lodz, Poland. In the early months of economic reform, Prochnik was one of the first five state enterprises to be privatized through initial public offerings and... View Details
Loveman, Gary W., and David T. Kotchen. "Prochnik: Privatization of a Polish Clothing Manufacturer." Harvard Business School Case 394-038, August 1993. (Revised January 1994.)
- 05 Jun 2015
- News
How Banking Analysts’ Biases Benefit Everyone Except Investors
- 16 Dec 2010
- News
Digital Drive
- July 2001 (Revised March 2002)
- Case
Progressive Insurance: Disclosure Strategy
By: Amy P. Hutton and James Weber
Progressive Insurance had refused to play Wall Street's earning game. Progressive didn't manage reported earnings nor did management give guidance to analysts. Management then considered taking their unique disclosure strategy one step further to become the first to... View Details
Keywords: Earnings Management; Stocks; Corporate Disclosure; Insurance; Volatility; Insurance Industry; United States
Hutton, Amy P., and James Weber. "Progressive Insurance: Disclosure Strategy." Harvard Business School Case 102-012, July 2001. (Revised March 2002.)
- August 2009 (Revised February 2013)
- Case
Eddie Bauer (A)
By: Paul Healy, Sharon Katz and Aldo Sesia
In June 2005, Eddie Bauer, the specialty apparel retailer, emerged from bankruptcy. Under the plan of reorganization former creditors converted their debt into common shares, taking 100% ownership in the reconstituted company. Large banks-including Bank of America and... View Details
Keywords: Financial Statements; Mergers and Acquisitions; Restructuring; Insolvency and Bankruptcy; Stock Shares; Valuation; Apparel and Accessories Industry; Retail Industry; United States
Healy, Paul, Sharon Katz, and Aldo Sesia. "Eddie Bauer (A)." Harvard Business School Case 110-008, August 2009. (Revised February 2013.)
- Research Summary
Good cop, Bad Cop: Complementarities between Debt and Equity in Disciplining Management
Joint work with Alexander Gümbel, Saïd Business School and Lincoln College Oxford
In this paper we examine how the quantity of information generated about firm... View Details
- 2017
- Article
Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds
By: John Y. Campbell, Adi Sunderam and Luis M. Viceira
The covariance between U.S. Treasury bond returns and stock returns has moved considerably over time. While it was slightly positive on average in the period 1953–2009, it was unusually high in the early 1980s and negative in the 2000s, particularly in the downturns of... View Details
Campbell, John Y., Adi Sunderam, and Luis M. Viceira. "Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds." Critical Finance Review 6, no. 2 (2017): 263–301.