Publications

Article

How Big are the Private Equity Transactions in Latin America?: Evidence from Twenty-five Countries from 2001 to 2008

By: Roberto Charvel

This article shows evidence on private equity transaction size and firm value size in 25 Latin American countries. View Details

Keywords: Private Equity; Venture Capital; Alternative Assets; Latin America; Emerging Market; Entrepreneurial Finance; Business Ventures; Finance; Entrepreneurship; Financial Services Industry; Latin America

December 2018 (Revised March 2019)
Case

R/GA: Corporate Venture Studio vs. Accelerator

By: Andy Wu, Grant Son and Aastha Thakkar

New approach to accelerating the development of innovation through corporate venturing by creating partnerships between startup venture and established corporations through the launch of the Global Sports Venture Studios created by R/GA Ventures and the Los Angeles... View Details

23 Sep 2010
News

A Firm Hand and Fewer Delays

Keywords: Professor David Scharfstein, Harvard professor of economics Jeremy Stein; capital regulation; Finance; Administration of Economic Programs; Government

October 2012 (Revised April 2017)
Case

Brazil's Enigma: Sustaining Long-Term Growth

By: Laura Alfaro, Hilary White and Haviland Sheldahl-Thomason

Over the past decade, Brazil's future as a leading world economic power appeared certain. An expanding middle class and commodity boom had fueled economic growth, with GDP growth hitting a peak of 7.5% in 2010. However, the high cost of conducting business in Brazil,... View Details

Keywords: Capital Controls; Inflation; Exchange Rates; Stimulus; Competitiveness; Productivity Growth; Foreign Investment; Infrastructure; Inflation and Deflation; Currency Exchange Rate; Brazil

November 2020
Case

Creating a Virtual Internship at Goldman Sachs

By: Prithwiraj Choudhury, Iavor I. Bojinov and Emma Salomon

Goldman Sachs runs an annual internship for over 3,000 participants, spread across dozens of the firm's global offices. In 2020, the team brought all its resources to bear to transform the internship program into a fully virtual format in just a few short weeks. The... View Details

Keywords: Remote Work; Remote Operations; Remote Internship; Internship; Virtual Socialization; Human Capital Management; Human Resources; Management; Health Pandemics; Adaptation

January–February 2019
Article

Corporate Purpose and Financial Performance

By: Claudine Gartenberg, Andrea Prat and George Serafeim

We construct a measure of corporate purpose within a sample of U.S. companies based on approximately 500,000 survey responses of worker perceptions about their employers. We find that this measure of purpose is not related to financial performance. However, high... View Details

Keywords: Corporate Purpose; Purpose; Employee Motivation; Belief Systems; Corporate Performance; Human Capital; Middle Management; Culture; Corporate Culture; Meaning; Mission and Purpose; Organizational Culture; Employees; Perception; Values and Beliefs; Performance Effectiveness

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May 2016 (Revised May 2017)
Case

Supply Chain Finance at Procter & Gamble

By: Benjamin C. Esty, E. Scott Mayfield and David Lane

In April 2013, Procter & Gamble (P&G), the world’s largest consumer packaged goods (CPG) company, announced that it would extend its payment terms to suppliers by 30 days. At the same time, P&G announced a new supply chain financing (SCF) program giving suppliers the... View Details

March 2011 (Revised December 2019)
Case

Wealth Management Crisis at UBS (A)

By: Paul M. Healy

The case describes the challenges that UBS faced as a result of the U.S. Department of Justice (DOJ) investigation for tax fraud, that claimed that UBS had helped some 52,000 U.S. residents hide billions of dollars in untaxed assets in secret Swiss accounts between... View Details

Research Summary

Overview

Abigail's research to date has focused on the financial accounting standard setting process. Specifically, her current projects investigate the impacts of regulator backgrounds, constituent preferences, and lobbying incentives in the determination of US GAAP. Her... View Details

Keywords: Financial Accounting; Political Economy; Capital Markets; Fair Value Accounting; Disclosure; International Accounting Standards

September 2020
Teaching Note

First Aid Beauty

By: Karen G. Mills and Annie Dang

Teaching Note for HBS Case No. 319-082. View Details

Keywords: Entrepreneurship; Venture Capital; Term Sheets; Decision Choices And Conditions; Preferred Shares; Common Stock; Beauty and Cosmetics Industry

June 2016
Teaching Note

HubSpot: Lower Churn through Greater CHI

By: Jill Avery, Asis Martinez Jerez and Thomas Steenburgh

HubSpot, a web marketing startup selling inbound marketing software to small- and medium-sized businesses, is under pressure from its venture capital partners to rapidly acquire new customers and to maintain a low level of customer churn. The B2B SaaS company is in the... View Details

Keywords: CRM; Customer Acquisition; Customer Retention; Churn Management; SaaS Business Models; Customer Lifetime Value; Venture Capital; Startup; Software; Monitoring And Control; Marketing; Customer Relationship Management; Marketing Strategy; Accounting; Technology Industry; United States

Article

Hecho en México: Reflexiones de un viaje a China

By: Roberto Charvel and Rodrigo Gallegos

Keywords: Emerging Market; Capital Markets; Manufacturing; Free Trade Agreements Environment; Economic Development; Globalization; China; Growth and Development; Competition; Competitive Advantage; Manufacturing Industry; China; Mexico

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2022
Working Paper

Multinationals and Varieties of Capitalism: When U.S. Giants Stepped into the Swiss Coordinated Labor Market in the 1950s

By: Sabine Pitteloud

This working paper investigates unintended consequences of U.S. FDI in Switzerland in the 1950s-1960s: the increased competition that U.S. firms generated within the national labor market and the challenge their hiring practices constituted for the institutional... View Details

Keywords: Multinationals; Capitalism; Business ＆ Government Relations; Foreign Direct Investment; Immigration Policy; History; Switzerland; Americanization; R＆D; Labor History; Labor Market Institutions; Tax Havens; ＂USA,＂; Business Interest Association; Lobbying; Labor and Management Relations; Business History; Multinational Firms and Management

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January 2020
Case

SK Group: Social Progress Credits

By: George Serafeim, Ethan Rouen and David Freiberg

SK Group was one of the largest companies South Korea. A family-run conglomerate consisting of around 120 subsidiaries and employing more than 100,000, SK was tightly knit into the fabric of Korean society. SK viewed their future success as contingent upon the strength... View Details

March 2014
Article

Information Environment and the Investment Decisions of Multinational Corporations

By: Nemit O. Shroff, Rodrigo S. Verdi and Gwen Yu

This paper examines how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries... View Details

Keywords: Capital Budgeting; Multinational Firms; Cross-border Frictions; Agency Frictions; Transparency; Financial Reporting Quality; Information Quality; Information; Multinational Firms and Management; Decision Choices and Conditions; Investment

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February 2013
Teaching Note

Australia: Commodities and Competitiveness (TN)

By: Laura Alfaro, Richard H.K. Vietor and Hilary White

For the past few decades, Australia has dealt with the benefits and costs of repeated mining booms—inflation, a housing bubble, a current account deficit and growing dependence on China. Between 1996 and 2007, however, Australia had most of these issues under control... View Details

Keywords: Competitiveness; Inflation; Mining; Current Account; Exchange Rates; Trade; Capital Flows; Commodities; Environment; Carbon Tax; Goods and Commodities; Australia