Publications

June 2021
Technical Note

SPAC Space

By: John R. Wells and Benjamin Weinstock

In 2020, over half of all initial public offerings (IPOs) in the United States were special purpose acquisition companies (SPACs), blank-check companies that typically had two years to find a business to take public, usually through a reverse merger. Together, 248... View Details

Keywords: Special Purpose Acquisition Companies; SPACs; Mergers and Acquisitions; Going Public; Initial Public Offering; Investment; Strategy

Research Summary

Entrepreneurship in Education Reform

This work explores two questions in the US public education system. First, is there a correlation between improved leadership and management practices and increased student outcomes? And second, can the introduction of market forces such as customer choice among... View Details

November 2000 (Revised April 2004)
Case

Airbus A3XX: Developing the World's Largest Commercial Jet (A)

By: Benjamin C. Esty and Michael Kane

In July 2000, Airbus Industries' supervisory board is on the verge of approving a $13 billion investment for the development of a new super jumbo jet known as the A3XX that would seat from 550 to 1,000 passengers. Having secured approximately 20 orders for the new jet,... View Details

Keywords: Risk and Uncertainty; Investment; Forecasting and Prediction; Capital Budgeting; Valuation; Government and Politics; Demand and Consumers; Product Development; Product Positioning; Air Transportation Industry; Manufacturing Industry

21 Jan 2021
News

Companies tap management gurus to tackle ‘unknowns’

February 1994 (Revised July 2008)
Case

Banc One Corporation: Asset and Liability Management

By: Benjamin C. Esty, Peter Tufano and Jon Headley

Banc One's share price has been falling recently due to analyst and investor concern over the bank's heavy use of interest rate derivatives. Dick Lodge, chief investment officer in charge of the bank's investment and derivative portfolio, must recommend to the CEO a... View Details

Keywords: Credit Derivatives and Swaps; Financial Management; Interest Rates; Investment Portfolio; Governance Controls; Risk Management; Banking Industry

29 Oct 2015
News

How to Design (and Analyze) a Business Experiment

06 Feb 2015
News

The New Titans of Wall Street

April 2008 (Revised December 2008)
Case

Leveraged Loans 2007

By: Andre F. Perold and Erik Stafford

The leveraged loan market was in a crisis during the summer of 2007, following many years of low realized volatility (less than 4% per annum), an index of leveraged loans had fallen over 5% in the month of July. A sudden drop in capital market prices for an asset class... View Details

Keywords: History; Financial Liquidity; Investment; Financial Crisis; Market Transactions; Disruption; Decision Choices and Conditions; Competitive Strategy; Capital Markets; Crisis Management; Commercial Banking; Banking Industry; Financial Services Industry

02 May 2009
News

Electoral ATMs

February 2016 (Revised June 2016)
Case

Curtis LLP: A Case on Cases

By: Nikolaos Trichakis

A product market firm faces an inventory investment decision in the face of demand uncertainty. To hedge against some of the uncertainty, the firm contemplates an additional fixed investment that would offer the flexibility of diverting inventory in case of weak sales.... View Details

Keywords: Dynamic Decision Making Under Uncertainty; Operations Management; Inventory Management; Real Options; Management; Risk and Uncertainty; Decision Choices and Conditions; Operations

October 2001 (Revised March 2003)
Case

Exxel Group, The: March 2001

By: Josh Lerner and Alberto Ballve

The Exxel Group, a leading Latin American buyout fund, faces a challenge when deciding whether and how to exit its largest investment. The capital markets are very weak, precluding an initial public offering. Undertaking a trade sale of the firm, however, proves to be... View Details

Keywords: Venture Capital; Private Equity; Leveraged Buyouts; Capital Markets; Investment Funds; Financial Strategy; Financial Services Industry; Latin America

January 2021 (Revised October 2021)
Case

eToro: Building the World's Largest Social Trading Network

By: Elie Ofek and Danielle Golan

Social trading platform eToro was preparing for the launch of its expanded offering in the U.S. The company faced critical decisions regarding product-market fit, go-to-market strategy, positioning and monetization. Moreover, it faced the challenge of how best to make... View Details

Keywords: Social Trading Platform; Investment; Social and Collaborative Networks; Marketing Strategy; Expansion; Digital Platforms

*Joined Harvard Faculty: 1991
Prior Faculty Appointments: Northwestern University, 1968-75;
University of Pittsburgh, 1975-91

*Doctoral Degree in Sociology Received from: The John Hopkins University;
MBA Degree Received from: The University of... View Details

Keywords: marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry; marketing industry

April 2001 (Revised July 2002)
Case

Martha Stewart Living Omnimedia (A)

By: Susan M. Fournier, Kerry Herman, Laura Winig and Andrea Carol Wojnicki

Martha Stewart Living Omnimedia (MSLO), a branded and integrated content and media company dedicated to "elevating the role of the homemaker," went public on October 19, 1999, creating a company with a market value of $1.73 billion, and a stake for Stewart worth $1.2... View Details

Keywords: Management; Media; Identity; Personal Characteristics; Brands and Branding; Media and Broadcasting Industry

February 2011 (Revised August 2021)
Case

Gemini Investors

By: Richard S. Ruback and Royce Yudkoff

Gemini Investors was a private equity firm focused on small and lower middle market businesses. Gemini's target investment size was between $4 million and $6 million and a typical portfolio company had revenue of between $8 million and $30 million. In early 2015,... View Details

Keywords: Private Equity; Investment; Investment Funds; Markets; Size; Financial Services Industry; United States