Publications

February 1989 (Revised October 1994)
Case

Asahi Breweries Ltd.

By: Malcolm S. Salter

Focuses on competitive repositioning, organizational renewal, and personal leadership. Describes how Asahi Breweries was faced with a major capacity expansion decision after succeeding in increasing market share dramatically in the traditionally stable Japanese beer... View Details

Keywords: Competitive Strategy; Expansion; Leadership; Organizational Structure; Product Launch; Management Teams; Business or Company Management; Marketing Strategy; Supply Chain Management; Mission and Purpose; Food and Beverage Industry; Japan

07 Nov 2011
Working Paper Summaries

Investment Cycles and Startup Innovation

Keywords: by Ramana Nanda & Matthew Rhodes-Kropf

September 1998 (Revised March 2002)
Case

Petrolera Zuata, Petrozuata C.A.

By: Benjamin C. Esty and Mathew M Millett

Petrozuata is a proposed $2.5 billion oil-field development project in Venezuela. The case is set in 1997 as the project sponsors, Conoco and PDVSA (Venezuela's national oil company), are planning to meet with various development agencies and rating agencies regarding... View Details

Keywords: Risk Management; Valuation; Project Finance; Capital Markets; Investment; Projects; Mining Industry; Energy Industry; Venezuela

August 2022 (Revised June 2024)
Exercise

How Should Netflix Add an Ad-Supported Tier?

By: Elie Ofek and Olivier Toubia

In the summer of 2022, it became clear that Netflix would introduce an ad-supported tier alongside its existing subscription plans in the near future. Speculation abounded as to the details of the new tier: How many minutes of advertising would it include? What picture... View Details

Keywords: Pricing; Television Industry; Price; Marketing Strategy; Digital Platforms; Customer Value and Value Chain; Competitive Strategy; Customer Satisfaction; Entertainment and Recreation Industry

June 1994 (Revised December 1997)
Case

Safeway, Inc.'s Leveraged Buyout (A)

After years of deteriorating financial performance and eroding market position, Safeway, Inc., the largest public grocery store chain in the United States, found itself the target of a hostile takeover offer. Management decided to take the company private in a $4.3... View Details

Keywords: Leveraged Buyouts; Restructuring; Retail Industry; United States

Mar 2012
Article

How to Make Finance Work

has been mixed. The sector's growth has been beneficial for U.S. corporations, which enjoy ready access to the deepest capital markets in the world. Venture capital, for example, and the public equity View Details

14 Dec 2010
First Look

First Look: Dec. 14

Download the paper: http://www.hbs.edu/research/pdf/11-054.pdf Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2007-2009 Financial Crisis Authors:Venkat... View Details

Keywords: Sean Silverthorne

January 2014
Case

Barclays Bank and Contingent Capital Notes, 2012

By: Lucy White and Trent Kim

In 2012, regulatory changes following the financial crisis mean that Barclays Bank is faced with the need to raise large amounts of capital in order to comply with increased capital requirements, tightening rules as to the "quality of capital," and increased risk... View Details

Keywords: Financial Instruments; Investment Banking; Capital; Banking Industry

Co-Chair, Driving Digital Strategy

Sunil Gupta is the Edward W. Carter Professor of Business Administration and co-chair of the executive program on Driving... View Details

Keywords: financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services; financial services

02 Apr 2013
Working Paper Summaries

Monitoring and the Portability of Soft Information

Keywords: by Dennis Campbell & Maria Loumioti; Banking

02 Dec 2014
Working Paper Summaries

International Trade, Multinational Activity, and Corporate Finance

Keywords: by C. Fritz Foley & Kalina Manova

Clayton S. Rose

Clayton Rose is Baker Foundation Professor of Management Practice. He currently teaches the course Accountability in the Advanced Management Program. His research is focused on the how leaders can manage the challenges created by the intense, varied and often... View Details

Keywords: financial services

October 2023 (Revised December 2023)
Case

Compound: Lending on the Blockchain

By: Marco Di Maggio, George Gonzalez and Richard Dulude

This case critically examines Compound, an innovative decentralized finance (DeFi) platform. Focusing on Compound’s blockchain-based borrowing and lending protocol, the case explores its automated, intermediary-free system using Ethereum smart contracts. This system... View Details

Keywords: Blockchain; Cryptocurrency; Disruptive Innovation; Borrowing and Debt; Financing and Loans; Organizational Design; Technological Innovation

December 2011
Article

Deposit Insurance and Subsidized Recapitalizations

By: Lucy White and Alan Morrison

The 2007–2009 financial crisis saw a vast expansion in deposit insurance guarantees around the world and yet our understanding of the design and consequences of deposit insurance schemes is in its infancy. We provide a new rationale for the provision of deposit... View Details

Keywords: Financial Crisis; Banks and Banking; Insurance; Taxation; Business and Government Relations; Banking Industry

Find at Harvard

The link between measures of risk and return within the equity market has been very weak over the past 47 years: in the United States, returns on high-risk stocks have cumulatively fallen short of the returns on low-risk stocks, during a period when the equity market... View Details

08 Oct 2014
Working Paper Summaries

The Federal Reserve’s Abandonment of Its 1923 Principles

Keywords: by Julio J. Rotemberg; Banking; Legal Services

24 Jun 2012
News

Suggested Safeguards Irk Fund Industry

June 2015 (Revised May 2017)
Case

LOYAL3: Own What You Love™

By: Luis M. Viceira and Allison M. Ciechanover

This case features San Francisco–based financial technology startup, LOYAL3. Founded in 2008, the company seeks to disrupt the capital markets and democratize access to those markets for retail investors. By the fall of 2014, LOYAL3 had three products. In the first,... View Details

Keywords: Capital Markets; Stocks; Strategic Planning

November 2003 (Revised March 2004)
Case

Marv Tseu at Active Reasoning

By: William A. Sahlman and Christina Darwall

Describes a set of decisions confronting the management team of an early-stage software company. The company has made considerable progress in developing its software but will need additional capital to move forward. Unfortunately, conditions in the capital market are... View Details

Keywords: Applications and Software; Financing and Loans; Capital; Business Startups; Information Technology Industry