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Show Results For
- All HBS Web
(4,351)
- People (20)
- News (855)
- Research (2,677)
- Events (8)
- Multimedia (14)
- Faculty Publications (1,648)
- 2009
- Working Paper
Systemic Risk and the Refinancing Ratchet Effect
By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market-rising home prices, declining interest rates, and near-frictionless refinancing opportunities-led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details
Khandani, Amir E., Andrew W. Lo, and Robert C. Merton. "Systemic Risk and the Refinancing Ratchet Effect." Harvard Business School Working Paper, No. 10-023, September 2009. (Revised July 2010.)
- December 2015 (Revised April 2019)
- Case
Chicken Republic
By: Jose Alvarez and Natalie Kindred
Deji Akinyanju, founder of Nigerian fast-food chain Chicken Republic, and Ayo Oduntan, founder of an integrated Nigerian poultry operation (Amo Byng Group), are among a growing cadre of skilled food-industry entrepreneurs for whom the opportunities to serve the... View Details
Keywords: Poultry; Chicken; Value Chain; Emerging Market; Chicken Republic; Amo Byng; Doreo Partners; Babban Gona; Reform; MINT; QSR; Quick Serve Restaurant; Fast Food; Corruption; Growth; Leadership; Food; Customer Value and Value Chain; Supply Chain; Infrastructure; Animal-Based Agribusiness; Entrepreneurship; Emerging Markets; Crime and Corruption; Governance; Growth and Development; Agriculture and Agribusiness Industry; Nigeria; Africa
Alvarez, Jose, and Natalie Kindred. "Chicken Republic." Harvard Business School Case 516-052, December 2015. (Revised April 2019.)
- October 2009 (Revised October 2010)
- Case
Grove Street Advisors: September 2009
By: Matthew Rhodes-Kropf and Ann Leamon
The investment committee of Grove Street Advisors, a pioneer in the provision of customized private equity funds-of-funds for pension fund clients, must decide how to respond to the market opportunities and challenges presented by the turmoil of 2008 and 2009. How can... View Details
Rhodes-Kropf, Matthew, and Ann Leamon. "Grove Street Advisors: September 2009." Harvard Business School Case 810-064, October 2009. (Revised October 2010.)
- 13 Jun 2017
- Research & Ideas
Why Global Investments Are Still a Good Bet
Photo by iStock Investors in global equity markets have traditionally hedged their bets, casting their investments far and wide across the world. That way, if the market in one... View Details
- Career Coach
Annette Rodriguez-Ferrer
Founder and Managing Partner of MKH Capital Partners, Annette has built the firm and spearheads MKH’s investment strategy and firm management. Prior to MKH, Annette was a Partner at Warburg Pincus, a leading global private equity firm,... View Details
- June 2010
- Case
Legendary Pictures & ABRY Partners
This case focuses on the review by the private equity firm ABRY Partners of an opportunity to invest in a film financing vehicle, Legendary Pictures. Before 2004, private equity firms had avoided co-investing with film studios in film productions because of their... View Details
El-Hage, Nabil N., and Anne Katherine Kofol. "Legendary Pictures & ABRY Partners." Harvard Business School Case 210-094, June 2010.
- May 2005 (Revised January 2008)
- Case
Inniskillin and the Globalization of Icewine
By: Geoffrey G. Jones and Jillian Hirasawa
Deals with the growth of the icewine industry and follows Vincor International as it creates an international market for its Inniskillin Icewine--a luxury alcoholic beverage consumed as a dessert wine. Gives the history of the alcoholic beverage industry in Canada and... View Details
Keywords: Global Strategy; Globalized Markets and Industries; Marketing Strategy; Product Marketing; Luxury; Food and Beverage Industry; Canada
Jones, Geoffrey G., and Jillian Hirasawa. "Inniskillin and the Globalization of Icewine." Harvard Business School Case 805-129, May 2005. (Revised January 2008.)
- September 2005 (Revised April 2007)
- Case
Spyder Active Sports - 2004
By: Belen Villalonga, Dwight B. Crane and James Quinn
David Jacobs founded a high-end ski apparel company in 1978. He successfully built and grew the company, establishing a major international brand that appealed to ski racers and other active skiers. In 1995, he sought external financing to support further growth of the... View Details
Keywords: Private Ownership; Private Equity; Financial Liquidity; Business Exit or Shutdown; Valuation; Brands and Branding; Wealth; Family Business; Financing and Loans; Globalization; Apparel and Accessories Industry; Sports Industry; Colorado
Villalonga, Belen, Dwight B. Crane, and James Quinn. "Spyder Active Sports - 2004." Harvard Business School Case 206-027, September 2005. (Revised April 2007.)
- Article
Do Strict Capital Requirements Raise the Cost of Capital? Bank Regulation, Capital Structure and the Low Risk Anomaly
By: Malcolm Baker and Jeffrey Wurgler
Traditional capital structure theory predicts that reducing banks' leverage reduces the risk and cost of equity but does not change the weighted average cost of capital, and thus the rates for borrowers. We confirm that the equity of better-capitalized banks has lower... View Details
Baker, Malcolm, and Jeffrey Wurgler. "Do Strict Capital Requirements Raise the Cost of Capital? Bank Regulation, Capital Structure and the Low Risk Anomaly." American Economic Review: Papers and Proceedings 105, no. 5 (May 2015): 315–320.
- March 2003 (Revised January 2004)
- Case
CDC Capital Partners: December 2002
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
Paul Fletcher, CEO of CDC Capital Partners, a private equity group investing in the world's poorest countries, is wrestling with questions raised by the imminent reorganization of the firm. Previously an arm of the United Kingdom's international aid agency, CDC is... View Details
Keywords: Private Equity; Investment Portfolio; Privatization; Venture Capital; Business and Government Relations; Emerging Markets; Infrastructure; Financial Services Industry; Banking Industry; United Kingdom
Hardymon, G. Felda, Josh Lerner, and Ann Leamon. "CDC Capital Partners: December 2002." Harvard Business School Case 803-167, March 2003. (Revised January 2004.)
- August 2006
- Article
Predicting Returns with Managerial Decision Variables: Is There a Small-Sample Bias?
By: Malcolm Baker, Ryan Taliaferro and Jeffrey Wurgler
Many studies find that aggregate managerial decision variables, such as aggregate equity issuance, predict stock or bond market returns. Recent research argues that these findings may be driven by an aggregate time-series version of Schultz's (2003, Journal of Finance... View Details
Keywords: Prejudice and Bias; Fairness; Managerial Roles; Management Analysis, Tools, and Techniques; Equity; Bonds; Financial Markets; Investment; Capital Markets; Borrowing and Debt; Investment Return
Baker, Malcolm, Ryan Taliaferro, and Jeffrey Wurgler. "Predicting Returns with Managerial Decision Variables: Is There a Small-Sample Bias?" Journal of Finance 61, no. 4 (August 2006): 1711–1730. (Section V of "Pseudo Market Timing and Predictive Regressions, NBER Working Paper Series, No. 10823, contains additional analyses.)
- April 3, 2016
- Guest Column
The Power of C.E.O. Activism: How Politically Outspoken Executives Sway Public (and Consumer) Opinion
By: Aaron K. Chatterji and Michael W. Toffel
Some CEOs are making news by taking public stances on controversial social issues largely unrelated to their core business. This article summarizes the insights from our research paper that shows that such "CEO activism" can influence public opinion and consumer... View Details
Keywords: Leadership & Corporate Accountability; Non-market Strategy; Corporate Social Responsibility; Politics; Political Influence; Political Strategy; Political Risk; Equity; Gender; Climate Change; Communication Strategy; Law; Leadership; Brands and Branding; Media; Problems and Challenges; Civil Society or Community; Social Issues; Public Opinion; United States; Georgia (state, US); North Carolina; Indiana; Indianapolis
Chatterji, Aaron K., and Michael W. Toffel. "The Power of C.E.O. Activism: How Politically Outspoken Executives Sway Public (and Consumer) Opinion." Grey Matter. New York Times (April 3, 2016), SR10.
- August 1997
- Case
Orbital Sciences Corporation: ORBCOMM
By: Das Narayandas and John A. Quelch
In late 1993, Orbital Communications Corp. (OCC), a subsidiary of Orbital Sciences Corp., is developing a global two-way wireless data communications system, called "ORBCOMM," based on a 26-satellite constellation in low earth orbit. Service is scheduled to begin in... View Details
Keywords: Business Subsidiaries; Business Model; Business Startups; Price; Global Strategy; Marketing Strategy; Demand and Consumers; Partners and Partnerships; Salesforce Management; Telecommunications Industry
Narayandas, Das, and John A. Quelch. "Orbital Sciences Corporation: ORBCOMM." Harvard Business School Case 598-027, August 1997.
- April 2025
- Case
Japan Industrial Partners Powers the Leveraged Buyout of Toshiba
By: Brian K. Baik, Joseph Pacelli and James Barnett
The case explores Japan Industrial Partners (JIP) $14 billion takeover of Toshiba Corporation (Toshiba). JIP was a private equity firm that took over the troubled electronics corporation in late 2023. The deal, which had been labeled one of the largest leveraged... View Details
Keywords: International Accounting; Borrowing and Debt; Management Analysis, Tools, and Techniques; Ownership; Risk and Uncertainty; Strategy; Valuation; Leveraged Buyouts; Restructuring; Capital Structure; Cost of Capital; Private Equity; Bids and Bidding; Accounting Industry; Electronics Industry; Energy Industry; Manufacturing Industry; Semiconductor Industry; Asia; Japan
Baik, Brian K., Joseph Pacelli, and James Barnett. "Japan Industrial Partners Powers the Leveraged Buyout of Toshiba." Harvard Business School Case 125-055, April 2025.
- February 2000 (Revised September 2002)
- Case
Forever: De Beers and U.S. Antitrust Law
By: Debora L. Spar and Jennifer Burns
For over a century, the international diamond market has been dominated by one of the most successful cartels on earth. Run by the legendary De Beers Corp., the cartel has managed to keep diamond prices increasing and to prevent the defection that dooms most other... View Details
Keywords: Lawfulness; Monopoly; Luxury; Business and Government Relations; Consumer Products Industry; Mining Industry; Africa; United States
Spar, Debora L., and Jennifer Burns. "Forever: De Beers and U.S. Antitrust Law." Harvard Business School Case 700-082, February 2000. (Revised September 2002.)
- December 2011 (Revised September 2017)
- Case
Domino's Pizza
By: David E. Bell, Phillip Andrews and Mary Shelman
Domino's Pizza is the world's second-largest pizza company with 9,436 stores globally, 95% of which are franchised. Domino's franchisees in the U.S. market were able to purchase fresh dough, cheese, pizza toppings, and other menu ingredients and store supplies directly... View Details
Keywords: Risk Management; Market Entry and Exit; Supply Chain Management; Global Strategy; Growth and Development Strategy; Food and Beverage Industry
Bell, David E., Phillip Andrews, and Mary Shelman. "Domino's Pizza." Harvard Business School Case 512-004, December 2011. (Revised September 2017.)
- January 1983 (Revised February 1988)
- Case
Hospital Corp. of America (B)
By: W. Carl Kester
Focuses on HCAs financing options for reaching its target capital structure. The options include new equity conversion of convertible debentures, a debt-for-equity swap, the sale of assets, and fixed-rate debt. Students must address the problem of market timing and... View Details
Keywords: Assets; Capital Structure; Cash Flow; Equity; Debt Securities; Credit Derivatives and Swaps; Health Industry; United States
Kester, W. Carl. "Hospital Corp. of America (B)." Harvard Business School Case 283-054, January 1983. (Revised February 1988.)
- September 1992 (Revised March 1993)
- Case
Empresas ICA and the Mexican Road Privatization Program
By: Willis M. Emmons III and Monica Brand
Mexico's largest construction company, Empresas ICA, makes an initial public offering to international equity investors in April 1992 to help fund its participation in an ambitious new private-sector approach to highway development. Under the new program, launched by... View Details
Keywords: Construction; Transportation Networks; Infrastructure; Privatization; Private Equity; Investment; Initial Public Offering; Private Sector; Government and Politics; Policy; Construction Industry; Mexico
Emmons, Willis M., III, and Monica Brand. "Empresas ICA and the Mexican Road Privatization Program." Harvard Business School Case 793-028, September 1992. (Revised March 1993.)
Asim I. Khwaja
Asim Ijaz Khwaja is the Director of the Center for International Development and the Sumitomo-Foundation for Advanced Studies on International Development Professor of International Finance and Development at the Harvard Kennedy School, and co-founder of the