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  • All HBS Web  (1,530)
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  • 02 Apr 2013
  • First Look

First Look: April 2

https://www.hbs.edu/faculty/Pages/item.aspx?num=41870 Expected Returns Dynamics Implied by Firm Fundamentals By: Lyle, Matthew R., and Charles C.Y. Wang Abstract—We provide a tractable stock valuation model to study the dynamics of firm-level expected... View Details
Keywords: Sean Silverthorne
  • 2002
  • Chapter

Helping Managers Assess the Value of Human Capital

By: Christopher A. Bartlett
Keywords: Human Capital; Valuation
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Bartlett, Christopher A. "Helping Managers Assess the Value of Human Capital." In Business: The Ultimate Resource, edited by Daniel Goleman, 45–46. Cambridge, MA: Perseus Publishing, 2002.
  • March 1991 (Revised August 1995)
  • Case

Interco

Interco has been advised by Wasserstein Perella to reject a $70 per share offer for the company. The case deals with the various types of analysis employed by Wasserstein Perella and allows a discussion of the actions of Interco's board as well as Wasserstein Perella. View Details
Keywords: Valuation; Negotiation Offer; Acquisition
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Mason, Scott P. "Interco." Harvard Business School Case 291-033, March 1991. (Revised August 1995.)
  • January 2019
  • Editorial

Accounting for Time

By: Ashley Whillans and Hanne Collins
Keywords: Time Management; Valuation; Happiness
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Whillans, Ashley, and Hanne Collins. "Accounting for Time." Harvard Business Review: The Big Idea (January 2019).
  • August 2000 (Revised July 2002)
  • Background Note

Fundamental Enterprise Valuation: Capital Expenditures (CAPEX)

By: Carliss Y. Baldwin
A technical note that defines capital expenditures (CAPEX). View Details
Keywords: Valuation; Business Ventures; Capital; Spending
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Baldwin, Carliss Y. "Fundamental Enterprise Valuation: Capital Expenditures (CAPEX)." Harvard Business School Background Note 801-123, August 2000. (Revised July 2002.)
  • January 1989 (Revised October 1993)
  • Background Note

Note: Valuing a Business Acquisition Opportunity

By: William E. Fruhan Jr.
Describes how to value an acquisition opportunity as a capital budgeting problem. Cash flows are discounted at the cost of capital and debt is deducted to value the equity capital of the target company. A key contribution of the note is the discussion of five methods... View Details
Keywords: Valuation; Acquisition; Opportunities
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Fruhan, William E., Jr. "Note: Valuing a Business Acquisition Opportunity." Harvard Business School Background Note 289-039, January 1989. (Revised October 1993.)
  • 2024
  • Working Paper

Priceless: How to Create, Trade, and Protect What Matters Most

By: Debora L. Spar
This article explores the concept of the "sacred economy," a realm of human interactions and exchanges that transcends traditional market dynamics. It illustrates the emotional and relational aspects of human connections that cannot be quantified or traded like... View Details
Keywords: Valuation; Relationships; Human Needs; Goods and Commodities
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Spar, Debora L. "Priceless: How to Create, Trade, and Protect What Matters Most." Harvard Business School Working Paper, No. 25-028, November 2024.
  • June 2017 (Revised November 2020)
  • Teaching Note

Tableau

By: Boris Vallee and Botir Kobilov
Teaching Note for HBS No. 216-045. View Details
Keywords: Hedge Fund; Long-short Equity; Growth Investing; Growth and Development Strategy; Investment; Valuation; Technology; Technology Industry; Waltham
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Vallee, Boris, and Botir Kobilov. "Tableau." Harvard Business School Teaching Note 217-074, June 2017. (Revised November 2020.)
  • 2008
  • Working Paper

Some Neglected Axioms in Fair Division

By: John W. Pratt
Conditions one might impose on fair allocation procedures are introduced. Nondiscrimination requires that agents share an item in proportion to their entitlements if they receive nothing else. The "price" procedures of Pratt (2007), including the Nash... View Details
Keywords: Resource Allocation; Valuation; Price; Cost
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Pratt, John W. "Some Neglected Axioms in Fair Division." Harvard Business School Working Paper, No. 08-094, May 2008.
  • 28 Apr 2009
  • First Look

First Look: April 28, 2009

in Confluent. Initially very excited about the deal, Warden becomes concerned about Confluent's valuation and its ability to succeed as a business when he learns about restrictions placed upon Confluent by the licensing agreement. The... View Details
Keywords: Martha Lagace
  • 2020
  • Working Paper

Measuring the Cost of Corporate Water Usage

By: DG Park, George Serafeim and T. Robert Zochowski
We develop a methodology that calculates the impact that organizations have on the environment through their water consumption relating to water stress risk. Using the methodology, we derive estimates for four companies that show how assumptions on the geographic... View Details
Keywords: Water; Water Management; Environment; Sustainability; Environmental Impact; Impact-Weighted Accounts; IWAI; Organizations; Environmental Sustainability; Valuation
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Park, DG, George Serafeim, and T. Robert Zochowski. "Measuring the Cost of Corporate Water Usage." Harvard Business School Working Paper, No. 21-036, September 2020.
  • January 2018 (Revised August 2018)
  • Supplement

Fair Value Accounting at Noble Group (B)

By: Siko Sikochi, Suraj Srinivasan and Quinn Pitcher
Following a series of reports by Iceberg Research alleging that Noble Group was too aggressive in its fair value accounting for contracts and investments in producers, Noble’s stock price continued to fall and stakeholders began to call for improved transparency in... View Details
Keywords: Fair Value Accounting; Contracts; Valuation
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Sikochi, Siko, Suraj Srinivasan, and Quinn Pitcher. "Fair Value Accounting at Noble Group (B)." Harvard Business School Supplement 118-062, January 2018. (Revised August 2018.)
  • 2012
  • Chapter

Valuing Financial Literacy

By: Shawn Cole, Thomas Sampson and Bilal Zia
Keywords: Financial Literacy; Valuation; Finance; Knowledge Use and Leverage
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Cole, Shawn, Thomas Sampson, and Bilal Zia. "Valuing Financial Literacy." Chap. 12 in Banking the World: Empirical Foundations of Financial Inclusion, edited by Robert Cull, Asli Demirguc-Kunt, and Jonathan Morduch, 415–428. Cambridge, MA: MIT Press, 2012.
  • 29 Jun 2017
  • Research & Ideas

Why Uber Is Worth Saving and How To Do It

was providing rides in 311 cities and 58 countries, and the startup’s reported valuation was estimated at about $70 billion in 2017. Consumers raved so much about the service initially that many public officials happily rewrote rules to... View Details
Keywords: by Dina Gerdeman; Transportation
  • 10 Sep 2001
  • Research & Ideas

The Negotiator’s Secret: More Than Merely Effective

analysis, all subjects were asked for their private assessment of the target company's fair value—as distinct from how they might portray that value in the bargaining process. Those assigned the role of seller gave median valuations more... View Details
Keywords: by James K. Sebenius
  • 16 Nov 2021
  • Blog Post

Building an Internship Program at Your Startup: An Interview with Facily’s Diego Dzodan (MBA 1999)

needed to reach a milestone – a valuation of $1B. Based on this experience, Dzodan encourages other alumni and entrepreneurs to spend the time necessary to bring on interns, even when there are dozens of other tasks on your list. “It can... View Details
  • January 2017
  • Supplement

Bayer AG: Bidding to Win Merck's OTC Business

By: Benjamin C. Esty, Marc Baaij and Arjen Mulder
Keywords: Acquisition; Bidding Strategy; Valuing Synergies; Negotiations; Corporate Strategy; Business Unit Strategy; Bidding Process; Discounted Cash Flow; Cross-border M&A; Tax Shields; Valuation; Competitive Strategy; Auctions; Germany; United States; United Kingdom
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Esty, Benjamin C., Marc Baaij, and Arjen Mulder. "Bayer AG: Bidding to Win Merck's OTC Business." Harvard Business School Spreadsheet Supplement 217-705, January 2017.
  • September 2009
  • Teaching Note

Mercury Athletic: Valuing the Opportunity (Brief Case)

By: Timothy A. Luehrman and Joel L. Heilprin
Teaching Note to 4050. View Details
Keywords: Mergers & Acquisitions; Sensitivity Analysis; Valuation; Mergers and Acquisitions
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Luehrman, Timothy A., and Joel L. Heilprin. "Mercury Athletic: Valuing the Opportunity (Brief Case)." Harvard Business School Teaching Note 094-051, September 2009.
  • February 2003 (Revised October 2004)
  • Background Note

Antamini Simulation Model

By: Peter Tufano
Antamini is a simulation of the value of an investment project whose outcome is uncertain. This case describes the situation facing a natural resource firm as it contemplates bidding on a copper mine in Peru. The bidder faces uncertainties about the ore deposit size... View Details
Keywords: Valuation; Auctions; Investment; Mining; Mining Industry; Peru
Citation
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Tufano, Peter. "Antamini Simulation Model." Harvard Business School Background Note 203-083, February 2003. (Revised October 2004.)
  • 2000
  • Mimeo

Capital Cash Flows: A Simple Approach to Valuing Risky Cash Flows

By: R. S. Ruback
Keywords: Cash Flow; Capital; Valuation
Citation
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Ruback, R. S. "Capital Cash Flows: A Simple Approach to Valuing Risky Cash Flows." 2000. Mimeo.
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