Publications
Publications
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(1,297)
- Faculty Publications (270)
- Article
An Evaluation of Money Market Fund Reform Proposals
U.S. money market mutual funds (MMFs) are an important source of dollar funding for global financial institutions, particularly those headquartered outside the U.S. MMFs proved to be a source of considerable instability during the financial crisis of 2007–2009,... View Details
- October 2015
- Teaching Note
Clef Company: Turnover
Clef Company sells keys and other products to retail outlets, which then sell these products to consumers. The case concerns turnover in Clef's sales force in the context of company strategy, financial performance, and a day in the life of a Clef salesperson. Among... View Details
- August 2015 (Revised May 2017)
- Case
TSG Hoffenheim: Football in the Age of Analytics
By: Feng Zhu, Karim R. Lakhani, Sascha L. Schmidt and Kerry Herman
In 2015, Dietmar Hopp, owner of Germany's Bundesliga football team TSG Hoffenheim and co-founder of the global enterprise software company SAP, was considering how to ensure long-term sustainability and competitiveness for TSG Hoffenheim. While historically a small... View Details
- August 2015
- Article
Poultry in Motion: A Study of International Trade Finance Practices
By: Pol Antràs and C. Fritz Foley
This paper analyzes the financing terms that support international trade and sheds light on how these terms shape the impact of economic shocks on trade. Analysis of transaction-level data from a U.S.-based exporter of frozen and refrigerated food products, primarily... View Details
- June 2015
- Case
The Valuation and Financing of Lady M Confections
By: Mihir A. Desai and Elizabeth A. Meyer
This case explores the decision-making process that small, private businesses must undertake when considering an expansion and when selling equity to outside investors. In the process, students are asked to complete two exercises: a break-even analysis and a valuation... View Details
- June 2015
- Supplement
Generating Higher Value at IBM (A): EPS Forecasting Model
By: Benjamin C. Esty and Scott Mayfield
This case analyzes IBM's financial performance and its capital allocation decisions over a 10-year period from 2004-2013, during which IBM returned more than $140B to shareholders through a combination of dividends and share repurchases. During this time, CEO Sam... View Details
- June 2015 (Revised September 2017)
- Supplement
Generating Higher Value at IBM
By: Benjamin C. Esty and Scott Mayfield
This case analyzes IBM's financial performance and its capital allocation decisions over a 10-year period from 2004-2013, during which IBM returned more than $140B to shareholders through a combination of dividends and share repurchases. During this time, CEO Sam... View Details
- June 5, 2015
- Article
How Banking Analysts' Biases Benefit Everyone Except Investors
By: George Serafeim, Joanne Horton and Shan Wu
- May 2015 (Revised December 2016)
- Supplement
Generating Higher Value at IBM (B)
By: Benjamin C. Esty and E. Scott Mayfield
- May 2015 (Revised September 2017)
- Case
Generating Higher Value at IBM (A)
By: Benjamin C. Esty and E. Scott Mayfield
This case analyzes IBM's financial performance and its capital allocation decisions over a 10-year period from 2004-2013, during which IBM returned more than $140B to shareholders through a combination of dividends and share repurchases. During this time, CEO Sam... View Details
- April 22, 2015
- Editorial
One Way To Help Greece Recover: Help Greek Companies Obtain Financing
By: George Serafeim
- February 2015
- Case
Longbow Capital Partners
By: Malcolm Baker, Samuel G. Hanson and James Weber
Longbow Capital Partners is a value-oriented long/short hedge fund focused on stocks in the energy sector. In January 2011, Longbow had invested in NiSource, a Fortune 500 company that owns a diverse portfolio of regulated energy businesses. In late 2014, Longbow was... View Details
- February 2015 (Revised February 2017)
- Case
Winnan Metal: Fulfilling the Dream
By: William R. Kerr, Jim Sharpe and James Weber
Neil Kashyap and Neil Lombardo (HBS '08) acquired Winnan Metal, Inc., a metal fabrication shop, after raising a search fund and an 11 month search to fulfill their dreams of becoming business owners. Two weeks after they took control of the company, Winnan's largest... View Details
Keywords: Entrepreneurs; Entrepreneurial Management; Turnarounds; Bank Loan; Crisis Management; Financial Analysis; Search Funds; Acquisitions; Financial Capital Needed; Management; Operations Management; Sales; Entrepreneurship; Decision Making; Change Management; Manufacturing Industry; United States; Indiana
- July 2014
- Case
Paramount Equipment, Inc.
By: Carliss Y. Baldwin and Wei Wang
Paramount Equipment, Inc., based in Fort Wayne, Indiana, is a large manufacturer of cranes and compact construction equipment, aerial work platforms, and food service equipment. Founded in 1987, Paramount now had manufacturing operations in 24 countries. However, it... View Details
- June 2014 (Revised May 2020)
- Supplement
Busse Place (B): Hannah's Dilemma
By: Arthur I. Segel and John H. Vogel, Jr.
Marisa Sanchez, a new Associate at Douglas Private Equity Advisors, confronts a dilemma when she is asked by a Senior Vice President (SVP) to do due diligence on a deal he wants to bring before the investment committee which will include the SVP, Douglas' owner and... View Details
Keywords: Real Estate; Financial Analysis; Property; Finance; Analysis; Ethics; Real Estate Industry; United States
- June 2014 (Revised May 2017)
- Case
Southeastern Asset Management Challenges Buyout at Dell
By: Paul Healy, Suraj Srinivasan and Aldo Sesia
In late 2012, Michael Dell wants to take Dell Inc., the company he founded, private. Mr. Dell believes that the successful company's transformation from a personal computer (PC) manufacturer to an enterprise solutions and services provider (ESS) is dependent on going... View Details
Keywords: Leveraged Buyout Transaction; Leveraged Recapitalization; Management Buyout; Dell, Inc.; Hedge Fund; Corporate Governance Theory; Valuation; Valuation Ratios; Valuation Methodologies; Board Of Directors; Boards Of Directors; Carl Icahn; Computer Services Industries; Proxy Contest; Proxy Battles; Proxy Fight; Proxy Advisor; Financial Accounting; Financial Analysis; Financial Ratios; Finance; Corporate Accountability; Corporate Governance; Corporate Finance; Leveraged Buyouts; Computer Industry; United States
- June 2014 (Revised July 2014)
- Background Note
An Overview of Project Finance and Infrastructure Finance—2014 Update
By: Benjamin C. Esty, Carla Chavich and Aldo Sesia
Provides an introduction to the fields of project finance and infrastructure finance, and gives a statistical overview of project-financed investments over the years from 2009 to 2013. Examples of project-financed investments include the Kashagan oil field development... View Details
- May 2014
- Article
Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment
By: Shawn A. Cole, Daniel Stein and Jeremy Tobacman
This paper estimates how experimentally-manipulated experiences with a novel financial product, rainfall index insurance, affect subsequent insurance demand. Using a seven-year panel, we develop three main findings. First, recent experience matters for demand,... View Details
- May 2014
- Article
Incorporating Field Data into Archival Research
By: Eugene F. Soltes
I explore the use of field data in conjunction with archival evidence by examining Iliev, Miller, and Roth's (2014) analysis of an amendment to the Securities Exchange Act of 1934. This regulatory amendment allowed depositary banks to cross-list firms without the... View Details
- 2014
- Article
Bond Supply and Excess Bond Returns
By: Robin Greenwood and Dimitri Vayanos
We examine empirically how the maturity structure of government debt affects bond yields and excess returns. Our analysis is based on a theoretical model of preferred habitat in which clienteles with strong preferences for specific maturities trade with arbitrageurs.... View Details