Publications

March 2018
Supplement

China Vanke: Battle for Control (B)

By: Lynn S. Paine, Charles C.Y. Wang, Dawn H. Lau and Anthony K. Woo

China Resources expresses disagreement over the validity of the results of the board vote as announced by China Vanke. It further raises objections to Vanke's handling of the announcement as well as reiterates its doubts about the strategic rationale of the proposed... View Details

Keywords: China Vanke; China Resources; Hostile Takeover; Board Of Directors; Shareholding Structure; Shareholder Rights; Asset Restructuring; Corporate Governance; Governing and Advisory Boards; Valuation; Business and Shareholder Relations; Real Estate Industry; China

2010
Supplement

Berkshire Partners: Bidding for Carter's, Spreadsheet Supplement

By: Malcolm Baker and James Quinn

Keywords: Auctions; Valuation; Leveraged Buyouts; Mergers and Acquisitions; Apparel and Accessories Industry; Retail Industry; Massachusetts

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January 1998 (Revised June 1999)
Case

Chemdex.com

By: William A. Sahlman, Michael J. Roberts and Laurence E. Katz

An Internet start-up company is developing an online marketplace for specialty chemicals and reagents. David Perry has been named a runner-up in the 1st annual HBS Business Plan contest and now faces seed-stage financing questions--how much money to raise, at what... View Details

Keywords: Valuation; Internet and the Web; Chemicals; Business Startups; Capital; Chemical Industry

10 Nov 2009
First Look

First Look: Nov. 10

DeckingerHarvard Business School Case 110-035 This case illustrates a comprehensive valuation of a firm specializing in the "speed dating" niche of the dating/entertainment industry. The founders of HurryDate, a small, privately... View Details

Keywords: Martha Lagace

February 1997
Case

Arch Communications Group, Inc.

By: Krishna G. Palepu and Sarayu Srinivasan

The market values Arch differently from analysts' values. View Details

Keywords: Valuation; Framework; Forecasting and Prediction; Investment; Stocks

March 2007 (Revised February 2009)
Background Note

How to Crack a Strategy Case

By: Stephen P. Bradley, David J. Collis, Kevin P. Coyne, Andrei Hagiu, Mikolaj Jan Piskorski, Jan W. Rivkin and John R. Wells

Addresses a common concern among strategy students: "How should I tackle this case?" Describes a process for diagnosing a strategic situation, then generating, evaluating, and choosing among strategic options. View Details

Keywords: Decisions; Management Practices and Processes; Situation or Environment; Strategy; Valuation

February 2003
Exercise

Restructuring the U.S. Steel Industry: Spreadsheet Exercise

By: William E. Fruhan Jr.

Description of an EXCEL spreadsheet exercise to test the impact of changes in wage rates on the value of debt and equity securities. View Details

Keywords: Equity; Debt Securities; Valuation; Wages; Restructuring; Steel Industry

June 2001 (Revised September 2010)
Exercise

Deal-crafting Toolkit

By: Michael A. Wheeler

Illustrates the potential sources of value creation as well as practical barriers to its achievement. Students analyze five brief scenarios that would yield efficient trades over valuation, discount rates, expectations, and risk tolerance, but that might be thwarted by... View Details

Keywords: Negotiation Deal; Negotiation Process; Behavior; Valuation; Value Creation

Find at Harvard

January 2018
Case

Environmental Technology Fund Partners and E-Leather

By: Vikram S. Gandhi and Aldo Sesia

It is 2014 and Environmental Technologies Fund (ETF) Partners, a UK-based venture capital firm, has an opportunity to invest in a privately held UK company that manufactured engineered composition leather extracted from waste leather using an environmentally friendly... View Details

Keywords: Sustainability; Venture Capital; Investment Strategy; Investment; Strategy; Ownership; Valuation; Energy Conservation; Equity; Technological Innovation; Environmental Sustainability; Performance Efficiency; Manufacturing Industry; Financial Services Industry; United Kingdom

11 Dec 2018
First Look

New Research and Ideas, December 11, 2018

Pflueger, Carolin E., Emil Siriwardane, and Adi Sunderam Abstract—We propose a new measure of the economy’s risk appetite based on the valuation of volatile stocks. Unlike proxies for risk appetite derived from aggregates, our measure is... View Details

Keywords: Dina Gerdeman

14 Apr 2009
First Look

First Look: April 14, 2009

an increase in the P/E ratios in the year after the investment. By way of contrast, funds with politicians involved invest in higher P/E industries, which have a negative valuation change in the year after the investment. Download the... View Details

Keywords: Martha Lagace

31 Jan 2023
News

Female Founders' Dilemmas; UK Tech Startups

ambitious visions for a better world,” she says. “This VC model is inherently built on making big bets. VCs are after mega-hits who can return the fund with their stratospheric valuations that are calculated primarily on top-line growth.... View Details

Keywords: Margie Kelley

1968
Mimeo

Restrictions on Rational Option Pricing: A Set of Arbitrage Conditions

By: Robert C. Merton

Keywords: Stock Options; Valuation; Trade

September 2024
Article

Standing on the Shoulders of Science

By: Joshua Lev Krieger, Monika Schnitzer and Martin Watzinger

Today’s innovations rely on scientific discoveries of the past, yet only some corporate R&D builds directly on scientific output. In this paper, we analyze U.S. patents to investigate how firms generate value by building on prior art “closer” to science. We show... View Details

Keywords: Patent Novelty; Value Capture; Science; Patents; Valuation; Research and Development

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March 2009
Supplement

Groupe Eurotunnel S.A. (B): Restructuring Under the Procedure de Sauvegarde

By: Stuart C. Gilson, Vincent Marie Dessain and Sarah Abbott

In mid-2007 the chairman and CEO of Eurotunnel Group, having elected to file for bankruptcy under a newly-enacted French insolvency law, awaits the outcome of a vote by creditors and shareholders. At least 50% of the shareholders must approve the plan, however they... View Details

Keywords: Restructuring; Capital Structure; Insolvency and Bankruptcy; Law; Valuation; Assets; Investment Funds; Voting; Business and Shareholder Relations; Ownership; Outcome or Result; France

June 2008
Teaching Note

Transparent Value LLC (TN)

By: Sharon P. Katz and Krishna G. Palepu

Teaching Note for [108098]. View Details

Keywords: Agreements and Arrangements; Valuation; Stocks; Price; Performance Expectations; Cash Flow; Revenue; Business Startups; Investment Funds; Product Launch; Financial Services Industry

February 2000 (Revised March 2001)
Case

Alphatec Electronics Pcl

By: Stuart C. Gilson, C. Fritz Foley and Perry Fagan

The newly appointed CEO of an important high-technology company in Thailand must lead the company through a complicated debt restructuring. Due to the collapse of the Thai currency, the company's debt burden, like that of most Thai companies, has skyrocketed because it... View Details

Keywords: Currency Exchange Rate; Valuation; Management Teams; Restructuring; Laws and Statutes; Insolvency and Bankruptcy; Developing Countries and Economies; Borrowing and Debt; Technology Industry; Electronics Industry; Thailand; United States