Equity Investment - Publications - Faculty & Research

December 2009
Case

Milliway Capital & Martin Smith: November 2008

By: G. Felda Hardymon, Matthew Rhodes-Kropf and Ann Leamon

Martin Smith, a recent MBA graduate, has just joined a top-tier venture capital firm in the difficult environment of late 2008. One of his first assignments is to review three companies in a partner's portfolio and recommend strategies for managing them. In addition,... View Details

Keywords: Investment Portfolio; Financial Management; Private Equity; Business Strategy; Partners and Partnerships; Venture Capital; Business or Company Management

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29 Nov 2006
Research & Ideas

Rich or Royal: What Do Founders Want?

equity for themselves) versus giving potential co-founders a large share of the equity to come on board. The choices were: taking money from angel investors, who would let the entrepreneur continue... View Details

Keywords: by Sarah Jane Gilbert; Financial Services

Adi Sunderam

Adi Sunderam is the Willard Prescott Smith Professor of Corporate Finance at Harvard Business School, a Research Associate at the National Bureau of Economic Research, and a Faculty Affiliate of the Harvard Economics department. He teaches Finance 2 in... View Details

Keywords: investment banking industry; investment banking industry; investment banking industry; investment banking industry; investment banking industry; investment banking industry

11 Mar 2008
First Look

First Look: March 11, 2008

are crucial to understanding Mexico's current economic and political challenges. Why did the opening up of the economy to foreign trade and investment not result in sustained economic growth? Why has electoral democracy not produced rule... View Details

Keywords: Martha Lagace

January 2007 (Revised August 2008)
Case

NatuRi Corporation

By: Robert F. Higgins and Virginia Fuller

NatuRi Corporation was a start up, founded in 2005, aiming to manufacture a cholesterol-lowering drug made from the byproducts of rice bran oil production. With operations split between Chennai, India and Boston, Massachusetts, NatuRi faced several challenges,... View Details

Keywords: Business Startups; Decision Choices and Conditions; Entrepreneurship; Venture Capital; Equity; Investment Funds; Growth and Development Strategy; Chennai; Boston

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December 2017 (Revised April 2018)
Case

Area One Farms

By: Forest Reinhardt, Jose B. Alvarez and Annelena Lobb

In 2017, Joelle Faulkner, CEO of Area One Farms, a Canadian private-equity fund focused on investing in the best Canadian farms and helping them expand, considered the merits and disadvantages of expanding her business to the U.S. While the markets shared some... View Details

Keywords: Expansion; Decision Choices and Conditions; Private Equity; Canada; United States

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Placement - Doctoral

(HKUST) Dissertation: Equity Market Views and Digital Technology Investment in Non-IT Firms Advisors: Suraj Srinivasan (Chair), Paul M. Healy , Charles C.Y. Wang , and Shane M. Greenstein Hashim Zaman... View Details

26 Jul 2011
First Look

First Look: July 26

investors than they absorb in new investment funds. From 1982-2010, repatriated earnings from foreign affiliates exceeded net capital investments by $1.1 trillion in 2010 dollars; and from 1950-2010,... View Details

Keywords: Sean Silverthorne

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Finance Curriculum - Faculty & Research

2026 Q3Q4 3.0 Field Course: Private Equity Projects and Ecosystems (also listed under Entrepreneurial Management and General Management) John Dionne Spring 2026 Q3Q4 3.0 Field Course: Public Markets View Details

16 May 2023
HBS Case

How KKR Got More by Giving Ownership to the Factory Floor: ‘My Kids Are Going to College!’

the bottom of the pyramid.” When companies incentivize hostility From his humble beginnings, Stavros studied at Duke University and found his way into private equity after graduating. One day, while sending wire transfers to View Details

Keywords: by Avery Forman

14 Sep 2010
First Look

First Look: September 14, 2010

http://www.people.hbs.edu/ffoley/IPRImit.pdf Venture Capital Investment in the Clean Energy Sector Authors:Shikhar Ghosh and Ramana Nanda Publication:In America's Energy Innovation Problem Abstract We examine the extent to which venture... View Details

Keywords: Sean Silverthorne

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Accounting & Management - Faculty & Research

address healthcare inequities in the U.S., disparities across race, gender, geography, and income remain stubbornly persistent. This article introduces the Strategic Fingerprint Framework for Health Equity, a practical, principle-based tool designed to help healthcare... View Details

Article

Laws versus Contracts: Legal Origins, Shareholder Protections, and Ownership Concentration in Brazil, 1890–1950

By: Aldo Musacchio

This article examines some of the institutional conditions that facilitated the development of equity markets in Brazil. A critical factor was the addition of protections for investors to corporate bylaws, which enabled relatively large corporations in Brazil to... View Details

Keywords: Voting; Equity; Financial Markets; Investment; Governance Controls; Business History; Ownership Stake; Brazil

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Program

Aligning Strategy and Sales

strategic asset, this sales channel strategy program will help you enable essential company-wide alignment. By aligning strategy and sales, you will explore new ways to help sales professionals meet their numbers, how to improve your company's return on View Details

13 Dec 2022
Research & Ideas

The Color of Private Equity: Quantifying the Bias Black Investors Face

Black venture capital and growth investors have a much harder time getting funding than white investors, because—despite efforts to bring more racial diversity to financial services—private equity’s gatekeepers remain mostly white, according to new research. Very few... View Details

Keywords: by Pamela Reynolds; Financial Services

April 2012
Article

The Predictive Value of Accruals and Consequences for Market Anomalies

By: Francois Brochet, Seunghan Nam and Joshua Ronen

We revisit the role of the cash and accrual components of accounting earnings in predicting future cash flows using out-of-sample predictions and market value of equity as a proxy for all future cash flows. We find that, on average, accruals improve upon current cash... View Details

Keywords: Forecasting and Prediction; Investment Return; Value; Equity; Markets; Cash Flow; Information Management; Accrual Accounting; Earnings Management; Corporate Governance; Stocks

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16 Apr 2013
First Look

First Look: April 16

Publications 2006 Stanford University Press Wall Street Research: Past, Present, and Future By: Groysberg, Boris, and Paul M. Healy Abstract—Wall Street equity analysts provide research products and services on publicly traded companies... View Details

Keywords: Sean Silverthorne

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Finance - Faculty & Research

difficulties when confronted with the full range of evidence. We propose an explanation based on a decline in inflation and default risk. We show that a model with sovereign default captures the decline in interest rates, the stability of View Details

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South Asia - Global

Center Mumbai, India News & Highlights APRIL 2025 EVENT Talk on Private Equity Through the Macro Lens with Professor Victoria Ivashina Professor Victoria Ivashina led an engaging in-person session in Mumbai on ‘Private View Details

March 2020 (Revised March 2024)
Case

CIAM: Home-Grown Shareholder Activism in France

By: Charles C.Y. Wang, Tonia Labruyere and Vincent Dessain

The case discusses the strategy of CIAM, a French activist investment firm, involved in a case of a buy-out of minority shareholders in the telecommunications sector. Altice NV, an international telecommunications company based in the Netherlands that owned more than... View Details

Keywords: Corporate Governance; Private Equity; Strategy; Valuation; Investment Activism; Financial Services Industry; France

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