Publications
Publications
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(1,442)
- Faculty Publications (361)
- December 2017
- Supplement
Bega Cheese: Bidding to Bring Vegemite Back Home
By: Benjamin C. Esty and Lauren G. Pickle
In January 2017, the leadership team of Bega Cheese—the Australian dairy company—was considering a bid for Mondelēz International’s Australia and New Zealand (ANZ) grocery business which included several leading consumer brands (Vegemite—the iconic Australian spread,... View Details
Keywords: Mergers ＆ Acquisitions; Value Drivers; Discounted Cash Flow (DCF); Dairy Industry; Corporate Scope; Diversification; Consumer Goods; Iconic Brands; Australia; Corporate Finance; Bidding Strategy; Cross Border; Mergers and Acquisitions; Valuation; Value Creation; Business Divisions; Capital Structure; Food; Bids and Bidding; Retail Industry; Consumer Products Industry; Food and Beverage Industry; Australia; United States
- December 2017 (Revised February 2021)
- Case
Bega Cheese: Bidding to Bring Vegemite Back Home
By: Benjamin C. Esty and Lauren G. Pickle
In January 2017, the leadership team of Bega Cheese—the Australian dairy company—was considering a bid for Mondelēz International’s Australia and New Zealand (ANZ) grocery business, which included several leading consumer brands such as Vegemite, the iconic Australian... View Details
Keywords: Mergers ＆ Acquisitions; Value Drivers; Discounted Cash Flow (DCF); Dairy Industry; Corporate Scope; Consumer Goods; Iconic Brands; Bidding Strategy; Cross Border; Financing; Mergers and Acquisitions; Valuation; Value Creation; Diversification; Business Divisions; Corporate Finance; Capital Structure; Food; Bids and Bidding; Consumer Products Industry; Food and Beverage Industry; Australia; United States
- October 2017
- Teaching Note
Canadian Pacific's Bid for Norfolk Southern
By: Benjamin C. Esty and E. Scott Mayfield
Teaching Note for HBS No. 216-057. View Details
- October 2017 (Revised April 2024)
- Case
Snap Inc. Goes Public (A)
By: Lynn Sharp Paine and Will Hurwitz
Snap Inc.’s chairman must decide how to address investor concerns about the company’s unprecedented plans to issue only non-voting shares in its upcoming IPO. The case is set in early 2017 following the public availability of Snap’s IPO filing with the U.S. Securities... View Details
Keywords: Ethics; Capital Structure; Corporate Accountability; Governing and Advisory Boards; Corporate Governance; Going Public; Business and Shareholder Relations; Leadership; Management; Mobile and Wireless Technology; Venture Capital; Technology Industry; Telecommunications Industry; Information Technology Industry; United States; California
- October 2017
- Supplement
Snap Inc. Goes Public (B)
By: Lynn Sharp Paine and Will Hurwitz
Supplements the (A) case.
Snap Inc.’s chairman must decide how to address investor concerns about the company’s unprecedented plans to issue only non-voting shares in its upcoming IPO. View Details
Snap Inc.’s chairman must decide how to address investor concerns about the company’s unprecedented plans to issue only non-voting shares in its upcoming IPO. View Details
Keywords: Ethics; Capital Structure; Corporate Accountability; Governing and Advisory Boards; Corporate Governance; Going Public; Business and Shareholder Relations; Leadership; Management; Mobile and Wireless Technology; Venture Capital; Technology Industry; Telecommunications Industry; Information Technology Industry; United States; California
- September 2017 (Revised June 2019)
- Case
Dianrong: Marketplace Lending, Blockchain, and 'The New Finance' in China
By: Christopher J. Malloy, Lauren H. Cohen and Anthony K. Woo
This case examines the strategic positioning of Dianrong, one of the largest online peer-to-peer (P2P) lending platforms in China, in its attempt to become a foundational player in the expansion of the FinTech sector in Asia. Dianrong had recently announced the... View Details
- September 2017 (Revised January 2025)
- Case
Dinesh Moorjani and Hatch Labs
By: Christopher Stanton, Shikhar Ghosh, Allison Ciechanover and Jeff Huizinga
This case is about Tinder. It discusses different business models and ways of structuring the initial team. With a $6 million investment from IAC/Interactive in 2010, Dinesh Moorjani founded Hatch Labs to build mobile apps. His mission was to attract entrepreneurial... View Details
- August 2017 (Revised September 2023)
- Case
Altoona State Investment Board & Bain Capital Fund XI
By: Josh Lerner and Ted Berk
Considers the decision faced by state pension fund manager Rod Calhoun as he decides whether to invest $200 million in Bain Capital's eleventh global buyout fund: Bain Capital Fund XI. For the fund, Bain was offering its limited partners a choice among three different... View Details
- July 2017 (Revised September 2017)
- Case
GM's Capital Allocation Framework
By: C. Fritz Foley, F. Katelynn Boland and Michael Lemm
In March of 2015, General Motors announced the details of a newly established capital allocation framework. This framework provided a target for return on invested capital, guidelines for capital structure choices, and policies related to payouts. Senior managers face... View Details
- April 2017
- Case
Global Leadership in a Dynamic and Evolving Region: Molinas @ The Coca-Cola Company (A)
By: Tsedal Neeley and Esel Çekin
Galya Frayman Molinas, President of Coca-Cola's Turkish business and a 20-year company veteran, is unexpectedly asked to take the helm of a newly expanded territory with operations across eight additional countries in Central Asia: Armenia, Azerbaijan, Georgia,... View Details
- February 2017 (Revised January 2022)
- Supplement
Bankruptcy at Caesars Entertainment (B)
By: Kristin Mugford
- 2017
- Book
HBR Guide to Buying a Small Business: Think Big, Buy Small, Own Your Own Company
By: Richard S. Ruback and Royce Yudkoff
Find, acquire, and run your own business. Are you looking for an alternative to a career path at a big firm? Does founding your own start-up seem too risky? There is a radical third path open to you: you can buy a small business and run it as CEO. Purchasing a small... View Details
Keywords: Entrepreneurial Finance; Entrepreneurs; Small Companies; Small Business Finance; Negotiation; Due Diligence; Sourcing; Search Funds; Search; Deal Sourcing; Deal Structuring; Funnel; Debt Financing; Small And Medium Enterprises; Small Business; Internet and the Web; Entrepreneurship; Negotiation Deal; Ownership; Equity; Borrowing and Debt
- January 2017 (Revised November 2018)
- Case
Vox Capital: Pioneering Impact Investing in Brazil
By: Julie Battilana, Marissa Kimsey, Falko Paetzold and Priscilla Zogbi
Vox Capital was the first certified impact investing fund in Brazil. Founded in 2009, it provides early-stage capital for companies offering innovative and scalable solutions to enhance the lives of low-income Brazilians, while aiming to simultaneously generate... View Details
- January 2017
- Supplement
Terrapin Laboratory: Exercise
By: Joseph B. Fuller and Christopher Payton
In this exercise, we examine the capital requirements of Terrapin Laboratory as they contemplate entering into a new market segment. The company is faced with two potential financing options which have different effects on the ownership structure of the company.... View Details
- January 2017
- Case
Nashua River Capital Management
By: Samuel Hanson and Aldo Sesia
Investment manager Eliza Baena confronts an apparent convertible bond arbitrage opportunity when she notices a narrowing spread between two Boston Properties (BXP) bonds, one a convertible bond and the other a straight bond, in the wake of the 2008 Lehman bankruptcy.... View Details
- Article
Deposit Competition and Financial Fragility: Evidence from the U.S. Banking Sector
By: Mark Egan, Ali Hortaçsu and Gregor Matvos
We develop a structural empirical model of the US banking sector. Insured depositors and run-prone uninsured depositors choose between differentiated banks. Banks compete for deposits and endogenously default. The estimated demand for uninsured deposits declines with... View Details
- December 2016
- Article
Deal Process Design in Management Buyouts
Management buyouts (MBOs) are an economically and legally significant class of transaction: not only do they account for more than $10 billion in deal volume per year, on average, but they also play an important role in defining the relationship between inside and... View Details
- November 2016 (Revised March 2018)
- Case
Deutsche Bank: Structured Retail Products
By: Boris Vallée and Jérôme Lenhardt
Describes how Deutsche Bank, a leading European bank, is deciding whether or not to launch a new structured retail product in Germany: an autocallable note. Will this product find a market and how does it fit into the bank’s product portfolio? The case investigates how... View Details
Keywords: Structured Products; Structured Retail Products; Germany; Auto Callable Note; Financial Product; Financial Product Development; Financial Product Marketing; Financial Product Launch; Financial Product Positioning; Finance; Assets; Asset Pricing; Asset Management; Capital Markets; Financial Institutions; Banks and Banking; Commercial Banking; Financial Instruments; Annuities; Bonds; Stocks; Financial Management; Financial Markets; Financial Strategy; Interest Rates; Investment
- September 2016 (Revised May 2018)
- Case
Zurich Insurance: Fostering People Management Practices
By: Boris Groysberg and Katherine Connolly
Zurich Insurance was undergoing organizational change after implementing five new people practices focused on manager development, diversity and inclusion, job model and data analytics, recruitment, and talent pipeline. The case provides background for the company, as... View Details
Keywords: Managing Change; Organizational Behavior; Diversity Management; Organizational Architecture; Recruiting; Succession Planning; Management; Organizational Culture; Organizational Change and Adaptation; Leading Change; Human Capital; Human Resources; Insurance; Leadership; Diversity; Organizational Structure; Recruitment; Management Succession; Insurance Industry
- September 2016 (Revised May 2018)
- Case
Zurich Insurance: Global Job Structure and Data Analysis
By: Boris Groysberg and Katherine Connolly
Zurich Insurance was undergoing organizational change after implementing five new people practices focused on manager development, diversity and inclusion, job model and data analytics, recruitment, and talent pipeline. The case “Zurich Insurance: Fostering Key People... View Details