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  • June 2017
  • Teaching Note

Project Sun Devil and Project Paris

By: Nori Gerardo Lietz and Alexander W. Schultz
Tony Lee is preparing to present a project to the investment committee of Howard Street Capital. He will be recommending an investment in Project Sun Devil, a high-quality 225-unit student housing rental property near Tempe, Arizona. Tony Lee will compete for capital... View Details
Keywords: General Management; Financial Analysis; Return On Assets; Accounting; Performance Measurement; Financial Ratios; Return On Equity; Financial Statements; Profitability Analysis; Portfolio Investment; Portfolio Management; Real Estate; Property; Investment Portfolio; Investment Return; Analysis; Real Estate Industry; United States
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Lietz, Nori Gerardo, and Alexander W. Schultz. "Project Sun Devil and Project Paris." Harvard Business School Teaching Note 217-086, June 2017.
  • Web

Statement of Activity & Cash Flows | Annual Report 2024

comparability across the Harvard schools, the University has asked all schools to report their net results in accordance with generally accepted accounting principles (GAAP) in the United States. Financial Statements: View Details
  • January 2003 (Revised February 2011)
  • Tool

Business Analysis and Valuation Model (Version 5)

By: Paul M. Healy, Krishna G. Palepu and Jonathan Barnett
Once you enter company financial statements, this software enables you to standardize them to a common format, make any needed adjustments to the company's accounting, and make assumptions about the company's future performance. The model then provides financial ratios... View Details
Keywords: Financial Statements; Standards; Mathematical Methods; Valuation
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"Business Analysis and Valuation Model (Version 5)." Harvard Business School Tool 103-701, January 2003. (Revised February 2011.)
  • February 2013 (Revised June 2017)
  • Case

Project Sun Devil and Project Paris

By: Nori Gerardo Lietz
Tony Lee is preparing to present a project to the investment committee of Howard Street Capital. He will be recommending an investment in Project Sun Devil, a high-quality 225-unit student housing rental property near Tempe, Arizona. Tony Lee will compete for capital... View Details
Keywords: General Management; Financial Analysis; Return On Assets; Accounting; Performance Measurement; Financial Ratios; Return On Equity; Financial Statements; Profitability Analysis; Portfolio Investment; Portfolio Management; Real Estate; Property; Investment Portfolio; Investment Return; Real Estate Industry; United States
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Lietz, Nori Gerardo. "Project Sun Devil and Project Paris." Harvard Business School Case 213-078, February 2013. (Revised June 2017.)
  • 2018
  • Other Teaching and Training Material

Financial Accounting Reading: Shareholders' Equity

By: Suraj Srinivasan
Core Curriculum Readings in Financial Accounting cover the fundamental concepts in financial accounting. Many readings include videos and Interactive Illustrations to help students master complex concepts.
This is a standalone reading designed to introduce... View Details
Keywords: Shareholders' Equity; Accounting; Financial Statements
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Srinivasan, Suraj. "Financial Accounting Reading: Shareholders' Equity." Core Curriculum Readings Series. Boston: Harvard Business Publishing 5075, 2018.
  • October 1985
  • Background Note

Interim Period Reporting and Analysis

By: David F. Hawkins
Keywords: Financial Reporting
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Hawkins, David F. "Interim Period Reporting and Analysis." Harvard Business School Background Note 186-081, October 1985.
  • December 2011
  • Case

Bergerac Systems: The Challenge of Backward Integration

By: David A. Garvin and Sunru Yong
Bergerac Systems is a small, rapidly growing manufacturer of diagnostic instruments used in veterinary practices. The company introduced the OmniVue chemistry analyzer, which enables veterinarians to run a wide range of blood and blood chemistry tests on their animal... View Details
Keywords: Financial Analysis; Manufacturing Strategy; Strategy; Production; Supply Chain Management; Vertical Integration; Performance Capacity; Financial Strategy; Medical Devices and Supplies Industry
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Garvin, David A., and Sunru Yong. "Bergerac Systems: The Challenge of Backward Integration." Harvard Business School Brief Case 114-381, December 2011.
  • July 1993 (Revised July 1994)
  • Background Note

Interim Period Reporting and Analysis

By: David F. Hawkins
Keywords: Financial Reporting
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Hawkins, David F. "Interim Period Reporting and Analysis." Harvard Business School Background Note 194-001, July 1993. (Revised July 1994.)
  • September 2010
  • Supplement

Using Regression Analysis to Estimate Time Equations (CW)

By: Francisco de Asis Martinez-Jerez
This note presents a simple way to estimate time equations using regression analysis in Excel. The note quickly outlines regression analysis, then presents a real-life case example from the natural gas industry that students can use to gain experience developing and... View Details
Keywords: History; Management Practices and Processes; Activity Based Costing and Management; Learning; Outcome or Result; Financial Statements; Experience and Expertise; Adoption; Communication Technology; Knowledge Acquisition; Management Skills
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Martinez-Jerez, Francisco de Asis. "Using Regression Analysis to Estimate Time Equations (CW)." Harvard Business School Spreadsheet Supplement 111-702, September 2010.
  • January 2011 (Revised July 2011)
  • Background Note

Shareholders' Equity: Accounting and Analysis

By: David F. Hawkins
Technical note covering various aspects of accounting for stockholders' equity. View Details
Keywords: Accounting; Equity; Stocks
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Hawkins, David F. "Shareholders' Equity: Accounting and Analysis." Harvard Business School Background Note 111-055, January 2011. (Revised July 2011.)
  • Fast Answer

Pharmaceuticals: Company Data and Analysis

Where can I find pharmaceutical company financials and analysis? We suggest you begin with: Capital IQ - Data on public and private companies, investment firms, capital transactions, and people with a powerful search portal.... View Details
  • April 2005
  • Article

The Geography of Equity Analysis

By: Christopher J. Malloy
I provide evidence that geographically proximate analysts are more accurate than other analysts. Stock returns immediately surrounding forecast revisions suggest that local analysts impact prices more than other analysts. These effects are strongest for firms located... View Details
Keywords: Geographic Location; Stocks; Investment Return; Forecasting and Prediction; Price; Performance; Equity; Information; Prejudice and Bias; Agency Theory
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Malloy, Christopher J. "The Geography of Equity Analysis." Journal of Finance 60, no. 2 (April 2005): 719–755. (Nominated for Smith Breeden Prize. Best Paper For the best finance research paper published in the Journal of Finance presented by Smith Breeden Associates, Inc.​)
  • July 1979
  • Article

Spectral Analysis of Stock Market Prices

By: Marc L Bertoneche
Keywords: Stocks; Markets; Price
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Bertoneche, Marc L. "Spectral Analysis of Stock Market Prices." Journal of Banking & Finance 3, no. 2 (July 1979).
  • 2009
  • Book

Experiments in Financial Democracy: Corporate Governance and Financial Development in Brazil, 1882-1950

By: Aldo Musacchio
In Experiments in Financial Democracy, I challenge the idea that it was colonial institutions that sent Brazil, a civil law country, down a particular path of corporate governance and finance. Detailed archival research reveals significantly different patterns of... View Details
Keywords: Private Equity; Investment; Corporate Governance; Governing Rules, Regulations, and Reforms; Business History; Business and Shareholder Relations; Brazil
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Musacchio, Aldo. Experiments in Financial Democracy: Corporate Governance and Financial Development in Brazil, 1882-1950. Cambridge University Press, 2009.
  • June 2001 (Revised August 2005)
  • Background Note

A Conceptual Framework for Financial Reporting

By: David F. Hawkins and Jacob Cohen
Discusses the conceptual framework for financial reporting as set by the Financial Accounting Standards Board. Discusses the objectives of financial statements, assumptions of financial accounting, characteristics of accounting information, accounting principles for... View Details
Keywords: Financial Reporting; Financial Statements; Accounting Industry
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Hawkins, David F., and Jacob Cohen. "A Conceptual Framework for Financial Reporting." Harvard Business School Background Note 101-118, June 2001. (Revised August 2005.)
  • 2019
  • White Paper

Impact-Weighted Financial Accounts: The Missing Piece for an Impact Economy

By: George Serafeim, T. Robert Zochowski and Jennifer Downing
Reimagining capitalism is an imperative. We need to create a more inclusive and sustainable form of capitalism that works for every person and the planet. Massive environmental damage, growing income and wealth disparity, stress, and depression within developed... View Details
Keywords: Impact-Weighted Accounts; IWAI; Background; Economic Systems; Economy; Corporate Social Responsibility and Impact; Measurement and Metrics; Financial Statements
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Serafeim, George, T. Robert Zochowski, and Jennifer Downing. "Impact-Weighted Financial Accounts: The Missing Piece for an Impact Economy." White Paper, Harvard Business School, Boston, MA, September 2019.
  • June 2014 (Revised May 2020)
  • Supplement

Busse Place (B): Hannah's Dilemma

By: Arthur I. Segel and John H. Vogel, Jr.
Marisa Sanchez, a new Associate at Douglas Private Equity Advisors, confronts a dilemma when she is asked by a Senior Vice President (SVP) to do due diligence on a deal he wants to bring before the investment committee which will include the SVP, Douglas' owner and... View Details
Keywords: Real Estate; Financial Analysis; Property; Finance; Analysis; Ethics; Real Estate Industry; United States
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Segel, Arthur I., and John H. Vogel, Jr. "Busse Place (B): Hannah's Dilemma." Harvard Business School Supplement 214-104, June 2014. (Revised May 2020.)
  • September 2023
  • Module Note

Live Case Exercise for Financial Reporting

By: Tatiana Sandino and Marshal Herrmann
Harvard Business School employs the case method as a cornerstone of its pedagogy, providing students with opportunities to engage in discussions related to difficult or contentious decisions confronted by real-world organizations. In this “live case,” we depart from... View Details
Keywords: Financial Reporting; Research; Corporate Disclosure
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Sandino, Tatiana, and Marshal Herrmann. "Live Case Exercise for Financial Reporting." Harvard Business School Module Note 124-031, September 2023.
  • February 1993 (Revised December 1994)
  • Exercise

Corporate Financial Management: Options Exercises

By: Timothy A. Luehrman
This case presents four exercises designed to introduce students to applications of option pricing and decision-tree analysis to real corporate investment problems. Two of the four problems involve decision trees and two involve option pricing. Students should be... View Details
Keywords: Financial Management; Investment; Projects; Corporate Finance
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Luehrman, Timothy A. "Corporate Financial Management: Options Exercises." Harvard Business School Exercise 293-095, February 1993. (Revised December 1994.)
  • Research Summary

Experiments in Financial Democracy: Corporate Governance and Financial Development in Brazil, 1882-1950 (BOOK)

In my first book manuscript, Experiments in Financial Democracy, I challenge the idea that it was colonial institutions that sent Brazil, a civil law country, down a particular path of corporate governance and finance. Detailed archival research reveals... View Details

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