Publications

06 Nov 2000
Research & Ideas

The Determinants of Corporate Venture Capital Success

and private venture funds. Corporate efforts lack the partnership-based organizational structure that many have identified as critical to the success of private equity funds.... View Details

Keywords: by Paul Gompers & Josh Lerner

24 Mar 2002
Lessons from the Classroom

Case Study: A Lesson in Private Venture Financing

security services to companies in South Africa, other African countries, and parts of Europe. In the case, Gray has recently undergone a financial restructuring with the help of private equity firm Brait... View Details

Keywords: by Julia Hanna

January 2008
Case

Parks Capital - Investment in US Retail, Inc.

Parks Capital acquired a Children's Apparel Manufacturer , American Child Clothing Manufacturers, Inc. (ACCM), in 2001. Two years later ACCM's largest retail customer, U.S. Retail, Inc., decided to evaluate strategic alternatives due to financial difficulties. Parks... View Details

Keywords: Mergers and Acquisitions; Customer Value and Value Chain; Private Equity; Vertical Integration; Apparel and Accessories Industry; Manufacturing Industry; Retail Industry; United States

December 2009
Case

Milliway Capital & Martin Smith: November 2008

By: G. Felda Hardymon, Matthew Rhodes-Kropf and Ann Leamon

Martin Smith, a recent MBA graduate, has just joined a top-tier venture capital firm in the difficult environment of late 2008. One of his first assignments is to review three companies in a partner's portfolio and recommend strategies for managing them. In addition,... View Details

Keywords: Investment Portfolio; Financial Management; Private Equity; Business Strategy; Partners and Partnerships; Venture Capital; Business or Company Management

22 Oct 2012
Research & Ideas

Not Your Father’s State-Run Capitalism

important state-run companies, such as oil and telecom firms, has remained steady. Moreover, while private companies may work well in countries with well-developed capital markets, countries without a robust... View Details

Keywords: by Michael Blanding

December 2019
Teaching Note

Hony Capital and Jushi Group

By: Josh Lerner, Shai Bernstein and Ann Leamon

Teaching Note for HBS No. 820-040. View Details

Keywords: Real Estate; Investing; Manufacturing; Private Equity; Asset Management; Investment; Factories, Labs, and Plants; Finance; China; United States

28 Jun 2012
Working Paper Summaries

Leviathan in Business: Varieties of State Capitalism and their Implications for Economic Performance

Keywords: by Aldo Musacchio & Sergio G. Lazzarini

06 Jun 2013
Working Paper Summaries

Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly

Keywords: by Malcolm Baker & Jeffrey Wurgler; Banking; Financial Services

April 2020 (Revised July 2020)
Case

Teton Capital Partners, LLC: Free Fallin'

By: Nori Gerardo Lietz

Keywords: Private Equity; Financial Crisis; Real Estate Industry; Banking Industry

Educators

September 2009 (Revised September 2010)
Case

Avid Radiopharmaceuticals and Lighthouse Capital Partners

By: Matthew Rhodes-Kropf and Ann Leamon

In fall 2008, a venture lender must decide whether to make a loan to Avid, a small but promising venture-backed life sciences firm. In reviewing her proposal, Cristy Barnes considers the company's characteristics and how they differ from a typical investment. At the... View Details

Keywords: Business Startups; Decision Choices and Conditions; Financial Crisis; Venture Capital; Private Equity; Financing and Loans; Investment; Financial Services Industry; Health Industry

Educators

September 2017
Case

Blackstone's Julia Kahr at the Summit

By: Paul A. Gompers, John D. Dionne and Amram Migdal

In 2009, Blackstone, the New York-based alternative asset and financial services firm, committed to invest up to $750 million into Summit Materials, a new company in the aggregates sector (i.e., construction materials, such as crushed stone, sand, gravel, cement,... View Details

Educators

April 2010
Article

Performance Persistence in Entrepreneurship and Venture Capital

By: Paul A. Gompers, Josh Lerner, David Scharfstein and Anna Kovner

This paper presents evidence of performance persistence in entrepreneurship. We show that entrepreneurs with a track record of success are much more likely to succeed than first-time entrepreneurs and those who have previously failed. In particular, they exhibit... View Details

Keywords: Performance; Entrepreneurship; Venture Capital; Private Equity; Market Timing; Competency and Skills; Success; Business Startups

Read Now

11 Feb 2011
Working Paper Summaries

Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003

Keywords: by Sergio G. Lazzarini & Aldo Musacchio

2010
Casebook

Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture

By: Laura Alfaro

All managers face a business environment in which international and macroeconomic phenomena matter. International capital flows can significantly affect countries' development efforts and provide clear investment opportunities for businesses. During the 1990s and early... View Details

Keywords: Financial Crisis; Capital; International Finance; Globalized Economies and Regions; Policy; Government and Politics; Business and Government Relations