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Show Results For
-
All HBS Web
(2,839)
- People (9)
- News (557)
- Research (1,718)
- Events (4)
- Multimedia (10)
- Faculty Publications (828)
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- June 2012
- Article
The Economic Value of Celebrity Endorsements
By: Anita Elberse and Jeroen Verleun
What is the payoff to enlisting celebrity endorsers? Although effects on stock returns are relatively well documented, little is known about any impact on sales—arguably a metric of more direct importance to advertising practitioners. In this study of athlete...
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Keywords:
Stocks;
Value;
Advertising;
Sales;
Brands and Branding;
Decisions;
Economics;
Marketing Strategy;
Investment Return
Elberse, Anita, and Jeroen Verleun. "The Economic Value of Celebrity Endorsements." Journal of Advertising Research 52, no. 2 (June 2012): 149–165.
- 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...
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- November 2017 (Revised August 2018)
- Case
Fair Value Accounting at Noble Group (A)
By: Siko Sikochi, Suraj Srinivasan and Quinn Pitcher
Noble Group was a large commodities trader based in Hong Kong and listed on the Singapore Stock Exchange. In 2012, Noble shifted its business strategy towards an asset-light model. Under this model, Noble did not own mines or farms to produce commodities but built...
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Sikochi, Siko, Suraj Srinivasan, and Quinn Pitcher. "Fair Value Accounting at Noble Group (A)." Harvard Business School Case 118-034, November 2017. (Revised August 2018.)
- January 2002 (Revised December 2002)
- Background Note
A Note on the Value of Information in an Entrepreneurial Venture
By: Paul W. Marshall
Uses a decision analysis framework to analyze the value of gaming information before making a full investment in an entrepreneurial venture.
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Marshall, Paul W. "A Note on the Value of Information in an Entrepreneurial Venture." Harvard Business School Background Note 802-143, January 2002. (Revised December 2002.)
- December 2019
- Article
Invest in Information or Wing It? A Model of Dynamic Pricing with Seller Learning
By: Guofang Huang, Hong Luo and Jing Xia
Pricing idiosyncratic products is often challenging because the seller, ex ante, lacks information about the demand for individual items. This paper develops a model of dynamic pricing for idiosyncratic products that features the optimal stopping structure and a seller...
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Keywords:
Dynamic Pricing;
Idiosyncratic Products;
Item-specific Demand;
Demand Uncertainty;
Active Seller Learning;
The Value Of Information;
Price;
Information;
Value;
Learning
Huang, Guofang, Hong Luo, and Jing Xia. "Invest in Information or Wing It? A Model of Dynamic Pricing with Seller Learning." Management Science 65, no. 12 (December 2019): 5556–5583.
- 10 Nov 2003
- Research & Ideas
The Hard Numbers on Social Investments
110 of the 128 IC investments, collecting both the valuation at the time of the initial investment and the current valuation at the time of the study for privately held companies, or the exit value for those...
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Keywords:
by Manda Salls
- 5 Nov 2005 - 8 Nov 2005
- Conference Presentation
New Perspectives on the Business Value of IT
By: David James Brunner, Bradley R. Staats and Marco Iansiti
We sought to unravel the link between IT investment and firm performance by examining deployed IT functionality (ITF). First, ITF appears to be an important link in the IT spend to business value chain. Second, ITF does not seem to be a commodity and has...
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- September 2011 (Revised February 2013)
- Case
Trucost: Valuing Corporate Environmental Impacts
By: Michael W. Toffel and Stephanie van Sice
Trucost provided corporate environmental performance data and analysis to institutional investors and corporate managers, but after operating for a decade had yet to achieve profitability. Trucost was struggling to effectively differentiate its high quality products...
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Keywords:
Competitive Strategy;
Knowledge Use and Leverage;
Distribution Channels;
Investment;
Measurement and Metrics;
Corporate Social Responsibility and Impact;
Information;
Value;
Environmental Sustainability;
Financial Services Industry
Toffel, Michael W., and Stephanie van Sice. "Trucost: Valuing Corporate Environmental Impacts." Harvard Business School Case 612-025, September 2011. (Revised February 2013.)
- November 2000
- Case
Wit Capital: Evolution of the Online Investment Bank (B)
Describes the evolution of Wit Capital from its origins as a small brewery to an online investment bank advising both small technology-based companies seeking to raise capital and large companies seeking to acquire Internet companies, as well as offering retail...
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Keywords:
Internet and the Web;
Disruptive Innovation;
Service Delivery;
Investment Banking;
Entrepreneurship
Hallowell, Roger H., and Charles Ruberto. "Wit Capital: Evolution of the Online Investment Bank (B)." Harvard Business School Case 801-265, November 2000.
- September 2009
- Supplement
One South: Investing in Emerging Markets (B)
By: Nicolas P. Retsinas and Justin Seth Ginsburgh
A United States private equity fund, The Saboput Group, must decide whether to invest in a new technology park development in Chennai, India. The B case provides the reader with due diligence observations, which reveal numerous potential problems with the investment....
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Keywords:
Decisions;
Private Equity;
Investment;
Foreign Direct Investment;
Markets;
Emerging Markets;
Problems and Challenges;
Partners and Partnerships;
Valuation;
Real Estate Industry;
Chennai;
United States
Retsinas, Nicolas P., and Justin Seth Ginsburgh. "One South: Investing in Emerging Markets (B)." Harvard Business School Supplement 210-027, September 2009.
- February 2017
- Case
Eve Hall: The African American Investment Fund in Milwaukee
By: Steven Rogers and Alterrell Mills
The case highlights the role of minority chambers of commerce and the background of Eve Hall, a well-regarded multi-sector leader asked to revive Wisconsin's African-American chamber. This case study examines the lending options that a minority chamber of commerce...
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Keywords:
Business Organization;
Business Plan;
Change Management;
Demographics;
Diversity Characteristics;
Ethnicity Characteristics;
Race Characteristics;
Investment Fund;
Cost Of Capital;
Banks And Banking;
Micro Finance;
Interest Rates;
Business Or Company Management;
Management Styles;
Management Succession;
Mission And Purpose;
Organizational Culture;
Leadership Style;
Leadership Change;
Business And Community Relations;
Nonprofit Organizations;
Wealth And Poverty;
Organizations;
Diversity;
Ethnicity;
Race;
Small Business;
Entrepreneurship;
Financing and Loans;
Decision Choices and Conditions;
Employment Industry;
Public Administration Industry;
Financial Services Industry;
Service Industry;
United States;
Wisconsin
Rogers, Steven, and Alterrell Mills. "Eve Hall: The African American Investment Fund in Milwaukee." Harvard Business School Case 317-076, February 2017.
- April 2002 (Revised February 2003)
- Module Note
Teaching Project Finance: An Overview of the Large-Scale Investment Course
By: Benjamin C. Esty
Large-Scale Investment is a case-based course about project finance for second-year MBA students. Project finance involves the creation of a legally independent project company financed with nonrecourse debt for the purpose of investing in a single-purpose industrial...
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Esty, Benjamin C. "Teaching Project Finance: An Overview of the Large-Scale Investment Course." Harvard Business School Module Note 202-086, April 2002. (Revised February 2003.)
- 13 Jun 2017
- Research & Ideas
Why Global Investments Are Still a Good Bet
Photo by iStock Investors in global equity markets have traditionally hedged their bets, casting their investments far and wide across the world. That way, if the market in one country or region stagnated (think Japan in the 1990s or...
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- September 2017
- Supplement
Actera Group: Investing in Mars Cinema Group (B)
By: Victoria Ivashina and Eren Kuzucu
In summer of 2010, Murat Çavuşoğlu (HBS MBA 1994) led private equity firm Actera Group’s investment in Mars Cinema Group (Mars), the leading movie exhibitor in Turkey. Immediately after acquiring Mars and merging it with the second larger player in the market, AFM,...
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- Research Summary
Working Hard and Investing for an Early Retirement
I examine consumption, leisure, and portfolio choices made over the life-cycle using a model allowing for semi-flexible leisure and an endogenously chosen retirement date. Under a Cobb-Douglas utility specification, I present closed-form expressions for optimal...
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- August 2000 (Revised July 2002)
- Background Note
Fundamental Enterprise Valuation: Return on Invested Capital (ROIC)
A technical note that defines return on invested capital (ROIC).
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Baldwin, Carliss Y. "Fundamental Enterprise Valuation: Return on Invested Capital (ROIC)." Harvard Business School Background Note 801-125, August 2000. (Revised July 2002.)
- 03 Nov 2020
- Working Paper Summaries
The Stock Market Value of Human Capital Creation
Keywords:
by Matthias Regier and Ethan Rouen
- Article
The Cross Section of Expected Holding Period Returns and Their Dynamics: A Present Value Approach
By: Matthew R. Lyle and Charles C.Y. Wang
We provide a tractable model of firm-level expected holding period returns using two firm fundamentals—book-to-market ratio and ROE—and study the cross-sectional properties of the model-implied expected returns. We find that 1) firm-level expected returns and expected...
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Keywords:
Expected Returns;
Discount Rates;
Holding Period Returns;
Fundamental Valuation;
Present Value;
Valuation;
Investment Return
Lyle, Matthew R., and Charles C.Y. Wang. "The Cross Section of Expected Holding Period Returns and Their Dynamics: A Present Value Approach." Journal of Financial Economics 116, no. 3 (June 2015): 505–525.
- 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...
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Keywords:
Dividends;
Share Repurchases;
Earnings Guidance;
Financial Statement Analysis;
Financial Ratios;
Payout Policy;
Earnings Per Share (EPS);
Earnings Management;
Change Management;
Leadership;
Transformation;
Financial Strategy
Esty, Benjamin C., and E. Scott Mayfield. "Generating Higher Value at IBM (A)." Harvard Business School Case 215-058, May 2015. (Revised September 2017.)
- Article
The Value of Intermediation in the Stock Market
By: Marco Di Maggio, Mark Egan and Francesco Franzoni
We estimate a structural model of broker choice to quantitatively decompose the value that institutional investors attach to broker services. Studying over 300 million institutional equity trades, we find that investors are sensitive to both explicit and implicit...
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Keywords:
Financial Intermediation;
Institutional Investors;
Research Analysts;
Broker Networks;
Equity Trading;
Institutional Investing
Di Maggio, Marco, Mark Egan, and Francesco Franzoni. "The Value of Intermediation in the Stock Market." Journal of Financial Economics 145, no. 2A (August 2022): 208–233.