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  • All HBS Web  (3,946)
    • People  (16)
    • News  (897)
    • Research  (2,231)
    • Events  (10)
    • Multimedia  (94)
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Show Results For

  • All HBS Web  (3,946)
    • People  (16)
    • News  (897)
    • Research  (2,231)
    • Events  (10)
    • Multimedia  (94)
  • Faculty Publications  (1,695)
← Page 43 of 3,946 Results →
  • February 2002
  • Article

Market Timing and Capital Structure

By: Malcolm Baker and Jeffrey Wurgler
It is well known that firms tend to raise equity when their market values are high relative to book and past market values. We document that the resulting effects on capital structure are very persistent. As a consequence, current capital structure is strongly related... View Details
Keywords: Valuation; Equity; Capital Structure; Theory; Market Timing; Financial Markets
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Baker, Malcolm, and Jeffrey Wurgler. "Market Timing and Capital Structure." Journal of Finance 57, no. 1 (February 2002): 1–32. (Winner of Brattle Prize. First Prize Paper For outstanding papers on corporate finance published in the Journal of Finance presented by Brattle Group, Inc. Reprinted in Recent Developments in Corporate Finance, edited by Jay Ritter. Edward Elgar Publishing: UK, 2005.)
  • January 2008 (Revised March 2009)
  • Case

Framedia (A) Abridged

By: Li Jin, Carliss Y. Baldwin, Li Liao, Huabing Li and Jielun Zhu
Examines an acquisition in the highly competitive outdoor media advertising industry in China in late 2005. The transaction leads to eventual consolidation of the whole industry and positive stock reactions. Discusses equity consideration in the context of an M&A... View Details
Keywords: Mergers and Acquisitions; Venture Capital; Equity; Private Equity; Corporate Governance; Emerging Markets; Organizations; Consolidation; Valuation; Advertising Industry; China
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Jin, Li, Carliss Y. Baldwin, Li Liao, Huabing Li, and Jielun Zhu. "Framedia (A) Abridged." Harvard Business School Case 208-048, January 2008. (Revised March 2009.)
  • December 2004 (Revised May 2006)
  • Case

Pacific Salmon Company, Inc.

By: Nabil N. El-Hage, Kenneth A. Froot and Christopher Edward James Payton
RRR, a $1 billion private equity fund, is trying to decide how much to bid for Pacific Salmon Inc. and how to finance the acquisition. View Details
Keywords: Food; Bids; Private Equity; Decision Making; Financing and Loans; Bids and Bidding; Acquisition; Corporate Finance; Financial Services Industry
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El-Hage, Nabil N., Kenneth A. Froot, and Christopher Edward James Payton. "Pacific Salmon Company, Inc." Harvard Business School Case 205-031, December 2004. (Revised May 2006.)
  • February 2003 (Revised September 2003)
  • Case

NanoGene Technologies, Inc.

Describes a company during the start-up phase and focuses on the founders' decisions regarding splitting the equity and compensation. Also considers establishing policies and practices that will set the tone for the company as it grows. Discusses a number of specific... View Details
Keywords: Business Startups; Business or Company Management; Compensation and Benefits; Selection and Staffing; Growth and Development Strategy; Organizational Culture; Policy; Technology Industry
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Cyr, Linda A., and Michael J. Roberts. "NanoGene Technologies, Inc." Harvard Business School Case 803-117, February 2003. (Revised September 2003.)
  • Career Coach

Gail Chang

background herself, Gail is also passionate about assisting international students in exploring various career options and strategizing career moves.   Work Experience: Nationwide Insurance (Insurance/Leadership Rotations/Corporate Finance/Performance Management &... View Details
  • March 2014 (Revised May 2014)
  • Teaching Note

The TELUS Share Conversion Proposal

By: Lucy White and Benjamin C. Esty
On February 21, 2013, TELUS announced a proposal to convert the firm's non-voting shares into voting shares on a one-to-one basis, thereby eliminating the firm's dual class structure. Shareholders were scheduled to vote on the proposal at the firm's annual general... View Details
Keywords: Proxy Contest; Proxy Battle; Proxy Advisor; ISS; Glass Lewis & Co.; Hedge Fund; Short Selling; Share Lending; Telecommunications; Voting Rights; Empty Voting; Equity Decoupling; Share Unification; Dual Class Shares; Canada; Exchange Ratio; Shareholder Activism; Shareholder Votes; Investment Activism; Public Equity; Capital Structure; Investment Return; Corporate Governance; Corporate Finance; Ownership Stake; Business and Shareholder Relations; Valuation; Telecommunications Industry; Canada; British Columbia; United States; New York (city, NY)
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White, Lucy, and Benjamin C. Esty. "The TELUS Share Conversion Proposal." Harvard Business School Teaching Note 214-003, March 2014. (Revised May 2014.)

    Payout Taxes and the Allocation of Investment

    When corporate payout is taxed, internal equity (retained earnings) is cheaper than external equity (share issues). If there are no perfect substitutes for equity finance, payout taxes may therefore have an effect on the investment of firms. High taxes... View Details

    • Career Coach

    Guntas Singh

    Guntas enjoys helping students explore Private Equity careers, leveraging his advisory and investing experience across North America, Europe, and the Middle East. With a background in Investment Banking and Private Equity, Guntas can... View Details
    • February 2014
    • Background Note

    Raising Startup Capital

    By: Jeffrey Bussgang
    Entrepreneurs typically focus their full energies on business-building. But raising capital is a core part of building a valuable business. Developing expertise in raising capital is more than a necessary evil, it is a competitive weapon. Master it and you will be in a... View Details
    Keywords: Fund Raising; Venture Capital Term Sheet; Venture Creation/development; Venture Investing; Venture Philanthropy; Entrepreneurial Finance; Entrepreneurial Management; Entrepreneurs; Jumpstart Our Business Startups (JOBS) Act; Non-equity Financing; Convertible Notes; Convertible Debt; Debt Financing; Raising Capital; National Venture Capital Association; Venture Capital Firm Compensation; Crowdfunding; Crowd-funding; Startup; Start-up; Startup Management; Startups; Angel Investors; Angels; Accelerator; Venture Capital; Financing and Loans; Entrepreneurship; Business Startups; Financial Services Industry; United States
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    Bussgang, Jeffrey. "Raising Startup Capital." Harvard Business School Background Note 814-089, February 2014.

      Emily R. McComb

      Emily McComb is a Senior Lecturer in the Finance Unit at HBS, teaching "Finance 2" in the required curriculum of the MBA program, as well as a co-leader of the HBS Impact Investment Fund in the elective curriculum. Prior to joining the HBS faculty in 2017, Emily was... View Details

      Keywords: financial services; health care
      • October 2010 (Revised July 2012)
      • Supplement

      Toni Sacconaghi at Sanford C. Bernstein

      By: Linda A. Hill and Dana Teppert
      Toni Sacconaghi, a senior sell-side equity research analyst at Sanford C. Bernstein covering U.S. IT hardware companies, thinks about the challenges and opportunities presented by the firm's new office in Hong Kong. Sacconaghi was previously the only analyst covering... View Details
      Keywords: Employees; Knowledge Sharing; Knowledge Use and Leverage; Research; Social and Collaborative Networks; Financial Services Industry; Hong Kong; United States
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      Hill, Linda A., and Dana Teppert. "Toni Sacconaghi at Sanford C. Bernstein." Harvard Business School Supplement 411-052, October 2010. (Revised July 2012.)
      • Career Coach

      Zoe Sun

      Zoe wants to help students, particularly international students who require visa sponsorship, understand opportunities available in the private equity industry and in finance industry more broadly. Having worked in Asia-focused private... View Details
      • 03 Jul 2025
      • Video

      Katina Sawyer presents "Hope for Social Justice: Where Do We Go from Here?"

      • Career Coach

      Rahi Patel

      Rahi’s pre-MBA professional journey has provided him with invaluable experiences in the investment banking and private equity industries. He enjoys advising students interested in finance and consulting, or who are making career... View Details

        Andi Wang

        Andi Wang is a doctoral student in the Business Economics program, where he works at the intersection of finance, macro and behavioral economics. He is particularly interested in studying institutional and behavioral frictions that have long-lasting effects on asset... View Details

        • December 2010
        • Compilation

        VCPE Strategy Vignettes II

        By: Josh Lerner, G. Felda Hardymon, Matthew Rhodes-Kropf, Ann Leamon and Lisa Strope
        These three vignettes present various issues around the strategy and management of venture capital and private equity firms. In one, a senior partner must decide how to manage an over-extended colleague and how to reduce the risk of the firm's portfolio; the second... View Details
        Keywords: Venture Capital; Private Equity; Cost vs Benefits; Insolvency and Bankruptcy; Investment Portfolio; Ownership; Partners and Partnerships; Risk Management; Stocks; Problems and Challenges; United States
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        Lerner, Josh, G. Felda Hardymon, Matthew Rhodes-Kropf, Ann Leamon, and Lisa Strope. "VCPE Strategy Vignettes II." Harvard Business School Compilation 811-054, December 2010.
        • 19 Mar 2006
        • Research & Ideas

        Unlocking Your Investment Capital

        risks—a process that can release more equity capacity. Finally, Merton argues, the job of managing the company's derivatives portfolio should not be delegated to in-house financial experts. The strategic importance of how a company... View Details
        Keywords: by Ann Cullen; Financial Services
        • 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
        Keywords: Capital Structure; Banks and Banking; Banking Industry
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        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.
        • January 1994 (Revised November 2001)
        • Background Note

        Note on the Venture Leasing Industry, A

        By: Josh Lerner
        Provides an overview of venture leasing, an innovative financing mechanism that resembles both venture equity investments and bank lending. View Details
        Keywords: Finance
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        Lerner, Josh. "Note on the Venture Leasing Industry, A." Harvard Business School Background Note 294-069, January 1994. (Revised November 2001.)
        • December 1998 (Revised March 2000)
        • Case

        Knot, The

        By: William A. Sahlman, Michael J. Roberts and Matthew C. Lieb
        An online wedding resource company is seeking an equity investment to grow the business. View Details
        Keywords: Entrepreneurship; Business Model; Venture Capital; Value Creation; Internet and the Web; Finance; Expansion; Strategic Planning; Service Industry; Consulting Industry
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        Sahlman, William A., Michael J. Roberts, and Matthew C. Lieb. "Knot, The." Harvard Business School Case 899-116, December 1998. (Revised March 2000.)
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