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  • 2012
  • Working Paper

The First Deal: The Division of Founder Equity in New Ventures

By: Thomas F. Hellmann and Noam Wasserman
This paper examines the division of founder shares in entrepreneurial ventures, focusing on the decision of whether or not to divide the shares equally among all founders. To motivate the empirical analysis we develop a simple theory of costly bargaining, where... View Details
Keywords: Entrepreneurship; Equity
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  • 2011
  • Working Paper

The First Deal: The Division of Founder Equity in New Ventures

By: Thomas F. Hellmann and Noam Wasserman
This paper examines the division of founder shares in entrepreneurial ventures, focusing on the decision of whether or not to divide the shares equally among all founders. To motivate the empirical analysis we develop a simple theory of costly bargaining, where... View Details
Keywords: Business Startups; Decision Choices and Conditions; Entrepreneurship; Fairness; Equity; Managerial Roles; Negotiation Deal; Ownership Stake; Value
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    Platform Envelopment

    Due to network effects and switching costs in platform markets, entrants generally must offer revolutionary functionality. Platform envelopment offers a second entry path: one that does not rely upon Schumpeterian innovation. Examples of successful envelopment... View Details

    • February 2007 (Revised April 2007)
    • Case

    Banca Regional Andino: Facing the Globalization of Microfinance

    By: Michael Chu and Jean Hazell
    Three leading Latin American microfinance banks join forces to face the new challenges of globalization, competition, and politics while common shareholder ACCION investments considers its options. From an initial project to share costs in the revamping of their IT... View Details
    Keywords: History; Microfinance; Competitive Strategy; Globalization; Problems and Challenges; Growth and Development; Bolivia; Ecuador; Peru
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    • 02 Apr 2001
    • Research & Ideas

    Not All M&As Are Alike—and That Matters

    geographically by rolling up other companies in adjacent territories. Usually, the operating unit remains local if the relationship with local customers is important. What the acquiring company brings is some combination of lower operating View Details
    Keywords: by Joseph L. Bower
    • Article

    Lessons from England's Health Care Workforce Redesign: No Quick Fixes

    By: Richard Bohmer and Candace Imison
    In 2000 the English National Health Service (NHS) began a series of workforce redesign initiatives that increased the number of doctors and nurses serving patients, expanded existing staff roles and developed new ones, redistributed health care work, and invested in... View Details
    Keywords: Health Care; Work Force Management; United Kingdom
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    • 19 May 2015
    • News

    Uber may never dominate in China—but it doesn't need to

    • Article

    Turning Waste into By-Product

    By: Deishin Lee
    This paper studies how a firm can create and capture value by converting a waste stream into a useful and saleable by-product (i.e., implementing by-product synergy [BPS]). We show that BPS creates an operational synergy between two products that are jointly produced.... View Details
    Keywords: Value Creation; Innovation and Invention; Cost Management; Opportunities; Market Participation; Framework; Profit; Competition; Wastes and Waste Processing; Product; Business Processes
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    • October 2008 (Revised November 2010)
    • Case

    NEC Electronics

    By: C. Fritz Foley, Robin Greenwood and James Quinn
    Why do shares in NEC Electronics, a publicly listed subsidiary of Japan conglomerate NEC, trade at a discount to their fundamental value? Can Perry Capital, a U.S. hedge fund, restructure this subsidiary and generate significant returns? This case provides students... View Details
    Keywords: Restructuring; Private Equity; Investment Return; Ownership Stake; Business and Shareholder Relations; Financial Services Industry; Japan
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    • 12 Feb 2015
    • Video

    The Real Rick's Cafe – Building a Business in Casablanca

    • October 7, 2021
    • Article

    Carbon Might Be Your Company’s Biggest Financial Liability

    By: Robert G. Eccles and John Mulliken
    The price of carbon may be zero in many places today, but it’s unlikely to remain zero for long. That means that many companies have hidden liabilities on their books. To cover their carbon short position, executives can take several steps: Measure the position in... View Details
    Keywords: Climate Risk; Climate Finance; Risk Management; Governance; Environmental Accounting; Climate Change; Environmental Sustainability
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    • November 2008
    • Supplement

    NEC Electronics (CW)

    By: C. Fritz Foley, Robin Greenwood and James Quinn
    Why do shares in NEC Electronics, a publicly listed subsidiary of Japan conglomerate NEC trade at a discount to their fundamental value? Can Perry Capital, a U.S. hedge fund, restructure this subsidiary and generate significant returns? This case provides students with... View Details
    Keywords: Business Conglomerates; Business Subsidiaries; Restructuring; Decisions; Investment Return; Investment Funds; Price; Ownership; Agency Theory; Business and Shareholder Relations; Value Creation; Electronics Industry; Japan; United States
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    • 15 Dec 2014
    • Research & Ideas

    Deconstructing the Price Tag

    when a firm does share this information, consumers consider it a form of "intimate disclosure"--and people are often more attracted to brands that disclose intimate information. Shoppers have greater affinity for brands that advertise how... View Details
    Keywords: by Dina Gerdeman; Retail
    • 26 Jul 2016
    • Working Paper Summaries

    The Impact of the Entry of Biosimilars: Evidence from Europe

    Keywords: by Fiona Scott Morton, Ariel Dora Stern, and Scott Stern; Health; Biotechnology; Pharmaceutical
    • 03 Oct 2007
    • Research & Ideas

    Dealing with the ‘Irrational’ Negotiator

    counterparts, we work with them to carefully consider whether the other side is truly irrational. Almost always, the answer is no. In most cases, behavior that appears to be irrational has a rational—albeit hidden—cause. Here, we will View Details
    Keywords: by Deepak Malhotra & Max H. Bazerman
    • 16 Oct 2008
    • Working Paper Summaries

    Opening Platforms: How, When and Why?

    Keywords: by Thomas R. Eisenmann, Geoffrey Parker & Marshall Van Alstyne
    • 16 May 2012
    • Research & Ideas

    Can Decades of Military Overspending be Fixed?

    little progress has been made in reducing cost overruns even though more than 20 reform proposals were launched during this time. "Despite the focus and effort dedicated towards reform in the past fifty years, important systemic... View Details
    Keywords: by J. Ronald Fox; Service
    • 18 Aug 2014
    • Research & Ideas

    Have a Better Idea To Improve Health Care?

    these innovations exist. (The remaining imperatives: Make value the central objective; promote novel approaches to process improvement; make consumerism really work; and decentralize approaches to problem solving.) "Health care, in terms of View Details
    Keywords: by Carmen Nobel; Health
    • May 2017 (Revised February 2024)
    • Case

    Battle for the Soul of Capitalism: Unilever and the Kraft Heinz Takeover Bid (A)

    By: William W. George and Amram Migdal
    This case describes Kraft Heinz Company’s (KHC) February 2017 unsolicited $143 billion takeover offer to acquire Unilever. The offer was made to Unilever CEO Paul Polman by KHC chairman Alexandre Behring, who was also co-founder and CEO of Brazilian-based 3G Capital... View Details
    Keywords: Acquisition; Value Creation; Decision Choices and Conditions
    Related
    • 14 Jul 2006
    • Op-Ed

    The Case for Consumer-Driven Medicaid

    to pay for a consumer-driven option of a traditional Medicaid hospital insurance, along with a doctor of their choice; a managed care policy, with its deductibles and copayment; or a network group of local physicians. If employed, they can use the funds to pay their... View Details
    Keywords: by Regina E. Herzlinger