Publications

June 2009
Supplement

Midland Energy Resources, Inc.: Cost of Capital, Instructors Spreadsheet (Brief Case)

By: Timothy A. Luehrman and Joel L. Heilprin

Keywords: Risk Assessment; Risk Management; Valuation; Capital Structure; Cash Flow

June 2009 (Revised March 2010)
Supplement

Hansson Private Label, Inc.: Evaluating an Investment in Expansion, Student Spreadsheet (Brief Case)

By: Erik Stafford and Joel L. Heilprin

Keywords: Present Value; Forecasting; Expansion; Valuation; Forecasting and Prediction; Capital Budgeting

2004
Case

Valuing Employee Stock Options

By: Timothy A. Luehrman

Keywords: Stock Options; Valuation; Compensation and Benefits

Web

Field Course: Venture Capital Journey - Course Catalog

superseded by this course. In VCJ, students will learn all aspects of the venture capital process, including: Deal sourcing Developing an investment thesis Conducting due diligence Investment decision making Determining valuation and... View Details

Web

Private Equity Finance - Course Catalog

sense: its common tools, strategies, impact, and factors that have been affecting its evolution. Course Content and Organization The course has 28 sessions, followed by a final exam. The course is organized into five modules. Module 1: Deal Sourcing and View Details

08 Apr 2021
Blog Post

HBS Entrepreneurship Immersion - Four Highlights

to start immediately? What’s the bottleneck? Independent Studies: I had the opportunity to work with Professor Jeff Bussgang diving into YCombinator - we work with hundreds of YC companies at Pilot! Finance: At a successful startup, the cost of capital greatly... View Details

06 Dec 2011
Op-Ed

Greater Fiscal Integration Best Solution for Euro Crisis

increase in borrowing cost, paralleling that of their respective sovereigns, while their collateral is decreasing in value. Since the amount of leverage in the system is still high, equity valuations and capital ratios are squeezed. The... View Details

Keywords: by Dante Roscini

01 Oct 2021
News

HBS-Harvard Collaboration Fosters New Ventures

Ahmed (AB 2012) and his team designed WHOOP, a wearable fitness strap that collects physiological data to help athletes, their coaches, and trainers analyze strain, recovery, and sleep. The startup, one of the first unicorns to come out of the HIL with a recent View Details

June 2023
Supplement

Applied Intuition (A)

By: Andy Wu

Applied Intuition CEO Qasar Younis provides an overview of the automotive industry and the role of simulation software in the development of autonomous vehicles. View Details

Keywords: Autonomous Vehicles; Software; Strategy; Competitive Strategy; Growth and Development Strategy; Valuation; Auto Industry; Technology Industry; California; Detroit

January 2017
Case

Bayer AG: Bidding to Win Merck's OTC Business

By: Benjamin C. Esty, Marc Baaij and Arjen Mulder

Shortly after submitting their best and final offer to acquire Merck's Consumer Care Division (a collection of "over-the-counter" (OTC) products with sales totaling $2 billion), the Bayer M&A team was given a chance to revise their bid because another potential... View Details

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; Bids and Bidding; Germany; United States; United Kingdom

January 2011 (Revised June 2011)
Case

Fixed Income Arbitrage in a Financial Crisis (A): US Treasuries in November 2008

Investment manager James Franey confronts an apparent arbitrage opportunity during the global financial crisis of 2008 when he notices a wide yield spread between two U.S. Treasury bonds that mature on the same date. Franey must decide if there is an opportunity, how... View Details

Keywords: Bonds; Valuation; Interest Rates; Financial Crisis; Financial Services Industry; United States

2009
Simulation

Finance Simulation: M&A in Wine Country (Facilitator's Guide)

By: Timothy A. Luehrman, W. Carl Kester and Heide Diener Abelli

Keywords: Mergers and Acquisitions; Negotiation; Valuation; Value Creation; Food and Beverage Industry; Agriculture and Agribusiness Industry

12 Jul 2011
First Look

First Look: July 12

Grants David F. HawkinsHarvard Business School Case 111-087 Analyst questions the value of accounting measurement of earnings per share and stock option costs for equity valuation purposes. Purchase this... View Details

Keywords: Carmen Nobel

30 Aug 2004
Research & Ideas

Mapping Your Board’s Effectiveness

corporate strategy—create value by becoming known for better governance and greater transparency to external providers? Can they lower their cost of capital and perhaps get a valuation premium based on the reputation and performance of... View Details

Keywords: by Robert S. Kaplan

October 2024 (Revised March 2025)
Teaching Note

BWX Technologies

By: Suraj Srinivasan and Yuan Zou

Teaching Note for HBS Case No. 124-071. View Details

Keywords: Transformation; Communication Intention and Meaning; Business and Shareholder Relations; Valuation; Diversification; United States; Canada

January 2024
Case

BWX Technologies

By: Suraj Srinivasan, Yuan Zou and Aldo Sesia

Rex Geveden and Robb LeMasters, CEO and CFO of BWX Technologies, Inc. (BWXT), were concerned that investors and analysts did not fully appreciate the company's transformation from a nuclear reactor provider to the US Navy and Canadian utilities to a multi-product line... View Details

Keywords: Transformation; Communication Intention and Meaning; Business and Shareholder Relations; Valuation; Diversification; United States; Canada

October 2006 (Revised April 2008)
Case

Ben Walter

By: Andre F. Perold and David S. Scharfstein

Ben Walter is thinking of purchasing Butler Lumber and needs to decide how he would run the business and how much to pay for it. View Details

Keywords: Mergers and Acquisitions; Decision Choices and Conditions; Investment; Valuation

April 2004 (Revised December 2004)
Case

Jazztel

By: Marc L. Bertoneche, Laurent Jacque, Kenneth Hynes and Jennifer Woolman

Jazztel--an upstart Spanish telecom--is considering an IPO on the NASDAQ (rather than the Madrid Bolsa) for funding its ambitious capital expenditure program estimated at $750 million over the next 10 years. The alternative would be another round of high-yield debt.... View Details

Keywords: History; Initial Public Offering; Valuation; Privatization; Financing and Loans; Financial Strategy; Telecommunications Industry; Spain

Find at Harvard

December 2017 (Revised January 2020)
Case

The Campbell Home (A)

By: Leslie K. John and Matthew G. Preble

Email mking@hbs.edu for a courtesy copy.

Campbell siblings Thomas and Sally are faced with selling their childhood home. They need to make several difficult consequential decisions, all the while navigating their... View Details

Keywords: Agents; Bidding Process; Negotiation; Negotiation Process; Negotiation Preparation; Negotiation Participants; Valuation; Real Estate Industry; United States