Publications

December 2006
Case

Southern Company's Investment in CEMIG

In the spring of 1997, Southern Company had the opportunity to acquire a significant portion of the electric utility in the Brazilian state of Minas Gerais. The shares in the utility, CEMIG, were being sold by the state government as part of a comprehensive... View Details

Keywords: Corporate Strategy; Privatization; Investment; Acquisition; Globalized Markets and Industries; Utilities Industry; Brazil

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March 2018
Case

Sachem Head's Activism at Autodesk

By: Suraj Srinivasan and Quinn Pitcher

In 2015, activist hedge fund Sachem Head Capital, led by founder Scott Ferguson, launched an activist campaign at computer aided design (CAD) software maker Autodesk. The activist campaign, waged mainly in private, was over Autodesk's lackluster financial performance,... View Details

Keywords: Shareholder Activism; Investing; Activist Investing; Technology; CEO Turnover; Hedge Fund Activism; Benchmarking; Corporate Governance; Information Technology; Investment Activism; Performance Improvement; Management Succession; United States

March 2006 (Revised November 2006)
Case

China: To Float or Not To Float? (D)- Bank of America's Strategic Investment in China Construction Bank

By: Laura Alfaro, Rafael M. Di Tella and Ingrid Vogel

With its $3 billion investment in Chinese state bank China Construction Bank, Bank of America--the second U.S. bank behind Citigroup in terms of assets and market capitalization--was one of several foreign banks directly participating in China's banking sector reform.... View Details

Keywords: Currency Exchange Rate; Banks and Banking; Foreign Direct Investment; International Relations; Banking Industry; China; United States

April 1992 (Revised April 1997)
Case

Reconstruction of Zambia

By: Richard H.K. Vietor

Examines the causes of decline--economic, social, and political--of the Zambian economy since 1974. It takes place at the time of the election of Frederick Chiluba, in October 1991. Examines the problems of economic development in Africa, and especially, of structural... View Details

Keywords: Business Cycles; Development Economics; Developing Countries and Economies; Economic Slowdown and Stagnation; Borrowing and Debt; International Finance; Political Elections; Africa; Zambia

March 2004 (Revised April 2005)
Case

International Rivers Network and the Bujagali Dam Project (A)

By: Benjamin C. Esty and Aldo Sesia

In the summer of 2002, the International Rivers Network (IRN), an environmental NGO located in Berkeley, California, was engaged in what appeared to be the last hours of a three year campaign to stop a $582 million dam and hydropower project at Bujagali Falls in... View Details

Keywords: Ethics; Corporate Disclosure; Project Finance; Investment; Environmental Sustainability; Projects; Developing Countries and Economies; Energy Industry; Uganda

06 Jun 2023
Cold Call Podcast

The Opioid Crisis, CEO Pay, and Shareholder Activism

Keywords: Re: Suraj Srinivasan; Health; Pharmaceutical; Distribution

February 2018
Case

Whole Foods and JANA Partners

By: Suraj Srinivasan and Quinn Pitcher

In 2017, JANA Partners decided to launch an activist campaign at struggling supermarket chain Whole Foods Market. The company had struggled for the past several years, and JANA thought the presence of new directors could help turn around its operations, while Whole... View Details

Keywords: Corporate Governance; Information Technology; Institutional Investing; Investment Activism; United States

October 2005 (Revised September 2006)
Case

Museum of Fine Arts Boston

By: V. Kasturi Rangan and Marie Bell

One of Boston's main cultural attractions, the Museum of Fine Arts (MFA), has experienced a steady decline of its core audience over the last decade. The museum's executive director attempted to bridge the shortfall by staging new, innovative, special exhibitions,... View Details

Keywords: Product Marketing; Growth Management; Innovation Leadership; Capital; Financing and Loans; Service Operations; Consumer Behavior

02 Feb 2011
Working Paper Summaries

Lawful but Corrupt: Gaming and the Problem of Institutional Corruption in the Private Sector

Keywords: by Malcolm S. Salter; Financial Services

November 1994
Case

Spectrum Equity Investors, L.P.

Brion Applegate and Bill Collatos had already started a fund-raising campaign for their new venture-capital fund when the principals of a prestigious Wall Street investment bank asked them to become the two senior partners of an in-house $150 million fund. The case... View Details

Keywords: Venture Capital; Personal Development and Career; Entrepreneurship

19 Jul 2006
Research & Ideas

Political Turmoil and Mexico’s Economy

maintained his control in part by creating a banking system that functioned more as a kind of investment club, Maurer says. Local businessmen would agree to lend each other money to finance one another's companies, while also selling... View Details

Keywords: by Julia Hanna

2024
Working Paper

Voting Rules, Turnout, and Economic Policies

By: Enrico Cantoni, Vincent Pons and Jérôme Schäfer

In recent years, voter ID laws and convenience voting have generated heated partisan debates. To shed light on these policy issues, we survey the recent evidence on the institutional determinants and effects of voter turnout and broaden the perspective beyond the most... View Details

Keywords: Voting; Political Elections; Policy

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December 2006 (Revised March 2007)
Case

Common Agricultural Policy and the Future of French Farming

By: J. Gunnar Trumbull, Vincent Marie Dessain and Elena Corsi

Presents the history and evolution of the EU Common Agricultural Policy, from early price supports to the 2003 decision to "decouple" payments to European farmers. Explores the logic behind agricultural supports, with a focus on the economic, political, and cultural... View Details

Keywords: History; Agreements and Arrangements; Price; Policy; Trade; Agribusiness; Agriculture and Agribusiness Industry; France; European Union

March 2016 (Revised March 2022)
Teaching Note

Evive Health and Workplace Influenza Vaccinations

By: John Beshears

Evive Health is a company that manages communication campaigns on behalf of health insurance plans and large employers. Using big data techniques and insights from behavioral economics, Evive deploys targeted and effective messages that improve individuals' health... View Details

September 2013 (Revised January 2016)
Case

The Abraaj Group and the Acibadem Healthcare Investment (A)

By: Paul A. Gompers, Bora Uluduz and Firdevs Abacioglu

This case concerns the proposed buyout of Acibadem, a leading hospital chain in Turkey. Abraaj, a MENA region private equity firm, proposes to make its first investment in Turkey. The case highlights the role of Turkish health care reform in driving the value. The... View Details

Keywords: Healthcare; Leveraged Buyouts; Private Equity; Health Care and Treatment; Europe