Publications

May 2018
Teaching Note

Mubadala and EBX: To X or to X It?

By: Nori Gerardo Lietz and Sayiddah Fatima McCree

On April 3, 2013, Hani Barhoush and Oscar Fahlgren of Mubadala Capital (“Mubadala”) considered how to salvage Mubadala’s $2 billion preferred equity investment of a 5.63% stake in the EBX Group. At the time, EBX was the holding company of a myriad of subsidiaries and... View Details

Keywords: Bankruptcy; Cross Border; Negotiations; UAE; Oil And Gas; Finance; Strategy; Negotiation; Insolvency and Bankruptcy; Private Equity; Restructuring; Energy Industry; Real Estate Industry; Shipping Industry; Financial Services Industry; Banking Industry; Brazil; Middle East

20 Jul 2010
First Look

First Look: July 20

other major cities. But China was changing fast, and Liu acknowledged that Jiamei's ongoing expansion depended on many factors beyond its control, notwithstanding government reform, Jiamei was also faced with pressures from its private... View Details

Keywords: Martha Lagace

08 Jan 2019
First Look

New Research and Ideas, January 8, 2019

Business School Case 218-078 Jaguar Capital S.A.S., Take the Money and Run? In January 2014, Tomas Uribe and Rodrigo Sanchez-Rios of Jaguar Capital S.A.S. (Jaguar or Jaguar Capital), were considering an offer from White Stone, the world’s largest View Details

Keywords: Dina Gerdeman

Ray A. Goldberg

A native of North Dakota, Dr. Goldberg received his A.B. from Harvard University in 1948, his MBA from the Harvard Graduate School of Business Administration in 1950 and his Ph.D. in Agricultural Economics from the University of Minnesota in 1952.

... View Details

Keywords: agribusiness; agriculture; fast food; food; food processing; forest products; grocery; high technology; information; restaurant; retailing; soft drink; textiles; tobacco; transportation; wholesale; wine

July 2016 (Revised July 2019)
Teaching Plan

Doctor My Eyes: The Acquisition of Bausch & Lomb by Warburg Pincus (A)

By: Nori Gerardo Lietz and Ricardo Andrade

In early 2010, senior partners at Warburg Pincus met to review a report on Bausch & Lomb Incorporated, the firm's largest investment at the time. Warburg Pincus had led a group of investors in acquiring Bauch & Lomb on October 26, 2007, taking the company private and... View Details

Keywords: Health Care; Mergers ＆ Acquisitions; Governance; Buyout; Private Equity; Finance; Mergers and Acquisitions; Health Industry; Consumer Products Industry; Pharmaceutical Industry; United States

10 Nov 2014
Working Paper Summaries

Crony Capitalism, American Style: What Are We Talking About Here?

Keywords: by Malcolm S. Salter

November 2007 (Revised October 2009)
Case

Ligand Pharmaceuticals Incorporated

In an activist role, the hedge fund Third Point LLC has three board seats and an ownership stake of 9.5% in Ligand Pharmaceuticals, Inc., a specialty pharmaceutical company. Third Point believed that Ligand had a strong drug portfolio and pipeline but that it was... View Details

Keywords: Mergers and Acquisitions; Private Equity; Investment Activism; Investment Funds; Governing and Advisory Boards; Bids and Bidding; Ownership Stake; Pharmaceutical Industry; United States

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2014
Book

Reinventing State Capitalism: Leviathan in Business, Brazil and Beyond

By: Aldo Musacchio and Sergio G. Lazzarini

In this book we describe the transformation of state capitalism from a model in which governments owned and ran corporations and broadly controlled the allocation of financial resources into two new varieties of state capitalism: Leviathan as a majority and as a... View Details

December 2018 (Revised March 2019)
Case

iyzico: Fundraising in Emerging Markets (A)

By: Marco Di Maggio and Gamze Yucaoglu

The case opens in 2016 as Barbaros Ozbugutu, co-founder and CEO of the Istanbul-based payment technology start-up iyzico, contemplates the offers the company received for its Series C round. The case then describes iyzico’s origins and provides a detailed overview of... View Details

Keywords: Iyzico; Fundraising; Business Startups; Venture Capital; Emerging Markets; Private Sector; For-Profit Firms; Management; Information Technology; Growth Management; Corporate Entrepreneurship; Negotiation Offer; Decision Making; Turkey

Clayton Rose is Baker Foundation Professor of Management Practice and teaches the course Accountability in the Advanced Management Program. His case writing is focused on the how leaders consider the... View Details

Keywords: financial services

Program

Senior Executive Program—Africa

Should Attend Experienced senior executives in African companies who have significant responsibility in strategic decision-making. Participants typically represent growth-oriented organizations, including: Established private or... View Details

Web

Hiring Organizations

Okta Oliver Wyman One Equity Partners One Rock Capital Partners, LLC Onebrief Optum Ventures Orbis Investment Management Limited Orby AI Ori Orijin Orsted Outsiders Fund Overview AI Overview Energy Oxeon P... View Details

25 Oct 2011
First Look

First Look: October 25

Course MaterialsMatrix Capital Management (A) Malcolm P. Baker and David LaneHarvard Business School Case 211-017 Ben Balbale, a partner at hedge fund Matrix Capital, must decide whether to exit their investment in Rovi Corporation, a... View Details

Keywords: Sean Silverthorne

October 2007 (Revised March 2009)
Case

Advanced Energy: Programs for Energy Conservation

By: V. Kasturi Rangan and Brooke Barton

Describes the dilemma facing Advanced Energy (AE), a $6 million nonprofit engaged in energy conservation in North Carolina. Most of the money for its programs comes from a Public Benefits Fund (PBF) enacted by the state legislature. With renewed effort by activists in... View Details

Keywords: Energy Conservation; Public Equity; Performance Efficiency; Nonprofit Organizations; Conflict and Resolution; Energy Industry; Utilities Industry

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November 2008
Journal Article

Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises

By: Mihir A. Desai, C. Fritz Foley and Kristin Forbes

This paper examines how financial constraints and product market exposures determine the response of multinational and local firms to sharp depreciations. U.S. multinational affiliates increase sales, assets, and investment significantly more than local firms during,... View Details

Keywords: Economic Growth; Financial Crisis; Currency; Private Equity; Foreign Direct Investment; Multinational Firms and Management; Emerging Markets; United States

SSRN

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02 Aug 2006
Research & Ideas

Investor Protection: The Czech Experience

outcomes. This literature has emphasized local investor protections and the contractual environment between private parties as being of critical importance. The Lauder-Železný saga demonstrates that this emphasis may be misplaced for two... View Details

Keywords: by Martha Lagace; Media & Broadcasting; Entertainment & Recreation

Web

Live from Klarman Hall - Alumni

Tech 10:30–11:15 a.m. EST Faculty Moderator: Tsedal Neeley , Naylor Fitzhugh Professor of Business Administration Alumni Speakers: Carolyn Everson (MBA 1999) , Board Director, Private Equity Senior Advisor,... View Details

December 2006 (Revised October 2016)
Case

eClinicalWorks: The Paths to Growth

By: Robert F. Higgins and Mark Rennella

In January 2006, eClinicalWorks (eCW) had an acquisition opportunity that could fundamentally change the way they had done business since the inception of the company in 1999. eClinicalWorks was a privately run business in the healthcare information technology field... View Details

Keywords: Young Companies; Strategic Revelation; Strategy And Execution; Strategy Development; Strategy And Leadership; Financing Strategy; Financing Risk; Financing; Expansion; Business Growth and Maturation; Organizational Culture; Financing and Loans; Customer Focus and Relationships; Acquisition; Growth and Development Strategy; Information Technology Industry; Health Industry; Massachusetts

May 2011
Case

Oriental Fortune Capital: Building a Better Stock Exchange

By: Josh Lerner and Keith Chi-ho Wong

When ChiNext opened in October 2009 as the second tier market of the Shenzhen Stock Exchange (SZSE), it aimed to provide Chinese entrepreneurs with equity capital and to facilitate the exits of venture capital firms and other investors which had previously relied on... View Details

Keywords: Capital Markets; Stocks; Financial Markets; Venture Capital; Private Equity; International Finance; Financial Services Industry; China