Publications

16 Apr 2001
Research & Ideas

Making the Most of Government Upheaval

markets, trade tariffs, and taxation virtually overnight in 1991, sending shock waves throughout its economy. For YPF, at the time heavily diversified in cinemas, airlines, hotels, and restaurants in addition to energy, the first order of... View Details

Keywords: by Nancy O. Perry

March 1992 (Revised November 1992)
Case

Lockheed Aeromod Center, Inc.

By: Timothy A. Luehrman

A wholly-owned subsidiary of Lockheed Corp. has an $11 million expansion underway in South Carolina. The company must decide how best to take advantage of the opportunity to issue tax exempt debt. Specifically, the decision involves choices about the maturity and... View Details

Keywords: Business Subsidiaries; Decisions; Borrowing and Debt; Financial Strategy; Taxation; Opportunities; Expansion; Valuation; South Carolina

February 2009 (Revised June 2011)
Background Note

A Note on the Legal and Tax Implications of Founders' Equity Splits

By: Noam T. Wasserman and Lauren Barley

This note summarizes key legal and tax issues that founders should consider as they contemplate an equity split and ownership structure. Specific issues covered include why founders should not delay splitting the equity and whether they should involve an attorney or... View Details

Keywords: Business Startups; Entrepreneurship; Equity; Taxation; Intellectual Property; Law; Ownership; Partners and Partnerships

December 1998 (Revised July 2010)
Background Note

Passive Activity Losses

By: Henry B. Reiling, Mark Pollard and Kevin Wall

Discusses the historical context, purpose, primary mechanical features, and effects of the passive activity loss rules. View Details

Keywords: Finance; Government Legislation; Taxation; Business and Government Relations; Public Administration Industry

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

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31 Aug 2020
Research & Ideas

State and Local Governments Peer Into the Pandemic Abyss

can explain over 660,000 of the state and local government jobs lost in April, about two-thirds of the total observed declines.” In their research, Green, an assistant professor in the Finance Unit at Harvard Business School, and... View Details

Keywords: by Kristen Senz

19 Apr 2004
Research & Ideas

Ground-Floor Opportunities for Retail in India

have made goods more attainable and enticing to a larger portion of the population. At the same time, trade liberalization and more sophisticated manufacturing techniques create goods that are less expensive and higher quality. A panel moderated by Harvard View Details

Keywords: by Julia Hanna; Consumer Products; Retail

March 1999 (Revised June 2005)
Case

Saevig Corporation

By: Henry B. Reiling and Mark Pollard

The taxpayer purchased land and later transferred it to a family controlled corporation in return for an earn out. When funds were eventually received, the IRS treated them as dividends, whereas the individual and corporate taxpayers contended they were sums paid on... View Details

Keywords: Investment Return; Debt Securities; Taxation; Outcome or Result; Financial Reporting; Family Business; Assets; Business and Stakeholder Relations

December 2004
Article

Old Rules and New Realities: Corporate Tax Policy in a Global Setting

By: Mihir A. Desai and James R. Hines Jr.

Keywords: Governing Rules, Regulations, and Reforms; Taxation; Policy; Business Ventures

SSRN

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March 1999
Article

'Basket' Cases: Tax Incentives and International Joint Venture Participation by American Multinational Firms

By: Mihir A. Desai and James R. Hines Jr.

Keywords: Taxation; Motivation and Incentives; Joint Ventures; Global Range; Business Ventures

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November 2022
Case

Chêne Bleu: Caught in the Trade Tariff Crossfire

By: Dante Roscini, Elena Corsi and Daniela Beyersdorfer

A French wine estate faced a 25% tariff on its U.S. exports following a multi-decade-long EU-U.S. trade dispute in the aerospace industry. View Details

Keywords: Trade; Globalized Markets and Industries; Business Startups; Business Strategy; Expansion; Family Business; Distribution; Agribusiness; Taxation; Agriculture and Agribusiness Industry; Food and Beverage Industry; Aerospace Industry; France; United States; Europe

July 2010
Supplement

Post-Crisis Compensation at Credit Suisse (C)

By: Clayton S. Rose and Aldo Sesia

The (C) case describes the results of Credit Suisse's PIP I program, the value of PAF, shareholders' vote on the new compensation plan supported by management, and the impact of the company's approach to the U.K. banker's tax. View Details

Keywords: Voting; Taxation; Compensation and Benefits; Business and Shareholder Relations; Banking Industry; Financial Services Industry; Switzerland; United Kingdom

24 Jul 2014
Op-Ed

Reform Tax Law to Keep US Firms at Home

by some taxation of non-C corporation business income. This combination of reforms has the potential of addressing significant changes in the global economy in a revenue-neutral way that will advance US... View Details

Keywords: by Mihir Desai; Pharmaceutical

February 1997
Case

Transportation Displays, Incorporated (D): Exiting from a Successful Restructuring

By: Stuart C. Gilson, Vincent Hemmer, Eric Rahe, David Shorrock and Stephen Voorhis

Following a successful corporate turnaround and, more recently, a leveraged recapitalization, management of a highly profitable, fast--growing outdoor advertising company must consider alternative ways to harvest cash flow from the company without jeopardizing the... View Details

Keywords: Restructuring; Capital; Cash Flow; Profit; Taxation; Private Ownership

February 2018 (Revised December 2019)
Case

The Tax Man: Taxes in Private Equity Real Estate

By: Nori Gerardo Lietz, Timothy J. Becker, Ricardo Andrade and Sayiddah F. McCree

In January 2018, Caelan Langan, an associate at KSW Partners LLC (“KSW”), was asked by Katherine Scott, the partner for whom he worked, to recommend a proposed structure to acquire a prominent office building in San Francisco for their most recent fund. Caelan was... View Details

Keywords: Real Estate; Alternative Investment Structures; Property; Acquisition; Private Equity; Investment; Management; Taxation; Policy

2009
Working Paper

Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

By: Andre C. Martinez Fritscher and Aldo Musacchio

There is a large amount of literature that aims to explain what determines country risk (defined as the difference between the yield of a sovereign's bonds and the risk free rate). In this paper, we contribute to the discussion by arguing that an important explanatory... View Details

Keywords: Trade; Cost of Capital; Revenue; Sovereign Finance; Goods and Commodities; Taxation; Business History; Risk and Uncertainty; Brazil