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- All HBS Web
(1,850)
- People (7)
- News (598)
- Research (910)
- Multimedia (7)
- Faculty Publications (344)
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- October 2013
- Case
Advantage Partners: Dia Kanri (A)
By: Paul A. Gompers, Nobuo Sato and Akiko Kanno
This case explores the opportunity to purchase the condominium management business of a distressed real estate developer by Advantage Partners, a leading Japanese private equity firm. The case explores investment structuring, bidding strategy, and the ability of... View Details
Keywords: Private Equity; LBO; Roll-up; Investment; Financing; Condominium Management; Leveraged Buyouts; Asia
Gompers, Paul A., Nobuo Sato, and Akiko Kanno. "Advantage Partners: Dia Kanri (A)." Harvard Business School Case 214-016, October 2013.
- December 2012 (Revised May 2014)
- Case
Hotel Ivory
By: Arthur I Segel, Nicolas P. Retsinas and Jonathan Lo
Cheick Sanankoua is an MBA student who believes that he has found the perfect investment property, a small, independently owned hotel, on the Ivory Coast. However, he has had trouble raising money for the investment beyond friends and family. Through contacts in the... View Details
Keywords: Real Estate; Emergent Countries; Investing; Entrepreneurial Finance; Debts; Cash Flow; Quantitative Analysis; Financing; Development Stage Enterprises; Small & Medium-sized Enterprises; Africa; Ivory Coast; Venture Capital; Emerging Markets; Property; Investment; Real Estate Industry; Real Estate Industry; Africa
Segel, Arthur I., Nicolas P. Retsinas, and Jonathan Lo. "Hotel Ivory." Harvard Business School Case 213-050, December 2012. (Revised May 2014.)
- September 2022
- Case
ROI vs. ROI: The Grupo Baobá Family Office
By: Lauren Cohen, Hao Gao, Jiawei Ye and Grace Headinger
Fernando Scodro, a third-generation member of his family, mulled over the next step in integrating an ESG strategy into his family office’s investment portfolio. While his family office, Grupo Baobá, had made excellent progress in incorporating his family’s values into... View Details
Keywords: Impact Investing; ESG; Green Building; Family; Partnership; Latin America; Brazil; Buildings and Facilities; Green Buildings; Family Business; Family and Family Relationships; Financial Management; Partners and Partnerships; Financial Services Industry; Brazil; Latin America
Cohen, Lauren, Hao Gao, Jiawei Ye, and Grace Headinger. "ROI vs. ROI: The Grupo Baobá Family Office." Harvard Business School Case 223-018, September 2022.
- October 2024 (Revised January 2025)
- Case
Citizens of the World: The International Legacy of Gloria von Thurn und Taxis
By: Lauren Cohen, Maximilian Form and Sophia Pan
When her husband passed away and inheritance taxes struck, Princess Gloria von Thurn und Taxis took decisive action to preserve her family’s fortune and legacy. The Thurn und Taxis family, one of Europe’s oldest aristocratic dynasties, had built their wealth through... View Details
Keywords: Family Office; Real Estate; Legacy; International Business; Germany; Family Business; Economy; Macroeconomics; Financial Crisis; Financial Liquidity; Investment; Global Strategy; Reputation; Diversification; Real Estate Industry; Germany
Cohen, Lauren, Maximilian Form, and Sophia Pan. "Citizens of the World: The International Legacy of Gloria von Thurn und Taxis." Harvard Business School Case 225-038, October 2024. (Revised January 2025.)
- September 2014 (Revised March 2015)
- Case
Fast Ion Battery
By: Ramana Nanda, Robert F. White and Stephanie Puzio
John Davidson, a partner at Ware Street Capital (WSC) and a board member at Fast Ion Battery, had just received a phone call from Don Lerner at Bluelock Ventures telling him that Bluelock would not participate in the $5M bridge financing for Fast Ion Battery. Lerner's... View Details
Keywords: Entrepreneurial Finance; Real Options; Term Sheets; Clean Technology; Entrepreneurship; Venture Capital
Nanda, Ramana, Robert F. White, and Stephanie Puzio. "Fast Ion Battery." Harvard Business School Case 815-025, September 2014. (Revised March 2015.)
- June 2017
- Teaching Note
The U-Turns of National Truck Stops
By: Nori Gerardo Lietz and Alexander W. Schultz
Raj Makam had spent months trying to restructure a 2006 investment he had made in National Truck Stops, Inc. (“NTS”) as a senior member of Oaktree Capital Management’s (“Oaktree”) Mezzanine finance business within their Corporate Debt platform. It was the first time... View Details
- June 2024
- Case
Alignvest Student Housing: Keep Building or Time to Sell?
By: Shikhar Ghosh and Patrick Sanguineti
Sanjil Shah, Managing Partner of Alignvest Student Housing REIT (ASH), faces the most significant decision thus far in his career: is it the right time to sell the company? Together with his partner Reza Satchu, Shah had developed ASH into the largest student housing... View Details
Keywords: Exit Strategy; Real Estate; Founder; Equity Valuation; Decisions; Entrepreneurial Finance; Interest Rates; Health Pandemics; Housing; Partners and Partnerships; Expansion; Entrepreneurship; Business Exit or Shutdown; Canada
Ghosh, Shikhar, and Patrick Sanguineti. "Alignvest Student Housing: Keep Building or Time to Sell?" Harvard Business School Case 824-208, June 2024.
- April 2017 (Revised August 2020)
- Case
The U-Turns of National Truck Stops
By: Nori Gerardo Lietz and Alexander W. Schultz
Raj Makam had spent months trying to restructure a 2006 investment he had made in National Truck Stops, Inc. (NTS) as a senior member of Oaktree Capital Management’s (Oaktree) Mezzanine finance business within their Corporate Debt platform. It was the first time they... View Details
Keywords: Mezzanine Financing; Corporate Debt; Bankruptcy; Real Assets; Financing and Loans; Borrowing and Debt; Insolvency and Bankruptcy; Restructuring; Private Equity; Cost vs Benefits; Atlanta; New York (city, NY)
Lietz, Nori Gerardo, and Alexander W. Schultz. "The U-Turns of National Truck Stops." Harvard Business School Case 217-062, April 2017. (Revised August 2020.)
- February 2016 (Revised June 2016)
- Case
Curtis LLP: A Case on Cases
By: Nikolaos Trichakis
A product market firm faces an inventory investment decision in the face of demand uncertainty. To hedge against some of the uncertainty, the firm contemplates an additional fixed investment that would offer the flexibility of diverting inventory in case of weak sales.... View Details
Keywords: Dynamic Decision Making Under Uncertainty; Operations Management; Inventory Management; Real Options; Management; Risk and Uncertainty; Decision Choices and Conditions; Operations
Trichakis, Nikolaos. "Curtis LLP: A Case on Cases." Harvard Business School Case 616-049, February 2016. (Revised June 2016.)
- July 2018 (Revised July 2018)
- Teaching Note
Argentina Power—Don’t Cry for Me Argentina
By: Nori Gerardo Lietz and Sayiddah Fatima McCree
Teaching Note for HBS No. 218-041. This case concerns a complex potential energy infrastructure investment in Argentina by a global conglomerate shortly after Mauricio Macri (“Macri”) became President of Argentina in 2015. The central issues are (i) why was a country... View Details
- September 2015
- Article
Speaking of the Short-Term: Disclosure Horizon and Managerial Myopia
By: Francois Brochet, Maria Loumioti and George Serafeim
We study conference calls as a voluntary disclosure channel and create a proxy for the time horizon that senior executives emphasize in their communications. We find that our measure of disclosure time horizon is associated with capital market pressures and executives'... View Details
Keywords: Short-termism; Management Styles; Disclosure; Conference Calls; Investing; Earnings Management; Motivation and Incentives; Management Style; Forms of Communication
Brochet, Francois, Maria Loumioti, and George Serafeim. "Speaking of the Short-Term: Disclosure Horizon and Managerial Myopia." Review of Accounting Studies 20, no. 3 (September 2015): 1122–1163.
- 1993
- Working Paper
Currency Hedging Over Long Horizons
By: K. A. Froot
This paper reexamines the widely-held wisdom that the currency exposure of international investments should be entirely hedged. It finds that the previously documented ability of hedges to reduce portfolio return variance holds at short horizons, but not at long... View Details
- June 2005
- Article
Currency Returns, Intrinsic Value, and Institutional Investor Flows
By: K. A. Froot and T. Ramadorai
Keywords: Currencies; Exchange Rates; Purchasing Power Parity; Real Exchange Rate; Forecasting and Prediction; Behavioral Finance; Investment Return; Market Transactions; Performance Expectations; Personal Characteristics; Asset Pricing; Financial Services Industry
Froot, K. A., and T. Ramadorai. "Currency Returns, Intrinsic Value, and Institutional Investor Flows." Journal of Finance 60, no. 3 (June 2005): 1535–1566. (Revised from NBER Working Paper no. 9101, August 2002 and Harvard Business School Working Paper no. 04-036, December 2003.)
- March 1994 (Revised December 1995)
- Case
McArthur/Glen Realty Corp.
By: William J. Poorvu and John H. Vogel Jr.
Jonathan Potter is considering an investment in the newly formed McArthur/Glen Real Estate Investment Trust. The case gives some background on real estate investment trusts and their history. Also discusses manufacturers' outlet shopping centers, the type of real... View Details
Poorvu, William J., and John H. Vogel Jr. "McArthur/Glen Realty Corp." Harvard Business School Case 394-166, March 1994. (Revised December 1995.)
- June 1975 (Revised September 2004)
- Case
Angus Cartwright III
By: Kenneth J. Hatten, William J. Poorvu, Howard H. Stevenson, Arthur I. Segel and John H. Vogel, Jr.
Judy and John DeRight, looking to diversify their investment portfolios, have retained Angus Cartwright, Jr. to identify prospective real estate acquisitions. Mr. Cartwright has four potential properties that he feels merit an in-depth financial analysis. The case... View Details
Keywords: Acquisition; Cash Flow; Investment Return; Investment Portfolio; Taxation; Balanced Scorecard; Valuation
Hatten, Kenneth J., William J. Poorvu, Howard H. Stevenson, Arthur I. Segel, and John H. Vogel, Jr. "Angus Cartwright III." Harvard Business School Case 375-376, June 1975. (Revised September 2004.)
- June 2013 (Revised July 2017)
- Case
Angus Cartwright IV
By: Kenneth J. Hatten, William J. Poorvu, Howard H. Stevenson, Arthur I Segel and John H. Vogel, Jr.
Judy and John DeRight, looking to diversify their investment portfolios, have retained Angus Cartwright, Jr. to identify prospective real estate acquisitions. Mr. Cartwright has four potential properties that he feels merit an in-depth financial analysis. The case... View Details
Keywords: Acquisition; Cash Flow; Investment Return; Investment Portfolio; Taxation; Balanced Scorecard; Valuation
Hatten, Kenneth J., William J. Poorvu, Howard H. Stevenson, Arthur I Segel, and John H. Vogel, Jr. "Angus Cartwright IV." Harvard Business School Case 813-185, June 2013. (Revised July 2017.)
- September 2018 (Revised November 2018)
- Case
From Beirut With Love (A)
By: Christina R. Wing, Esel Y. Cekin and Samer Al-Rachedy
This case describes how Robert Fadel, CEO and chairman of ABC, one of Lebanon’s leading retail and real estate groups, professionalized the family business. Robert was the second son of the company’s founder, Maurice Fadel, who had run it single-handedly. Concerned... View Details
Keywords: Family Conflicts; Sibling Rivalry; Second-generation; Foundation; Trust; Work-life Balance; Succession Planning; Corporate Culture; Shareholders; Board Of Directors; Retail; Department Store; Shopping Mall; Real Estate; Growth; Non-executive Chairman; Sustainability; Family Business; Conflict Management; Management Succession; Governance; Leadership; Transformation; Leading Change; Organizational Structure; Management; Growth and Development; Real Estate Industry; Real Estate Industry; Lebanon; Middle East
Wing, Christina R., Esel Y. Cekin, and Samer Al-Rachedy. "From Beirut With Love (A)." Harvard Business School Case 619-024, September 2018. (Revised November 2018.)
- October 2013 (Revised October 2017)
- Case
Bridges Ventures
By: V. Kasturi Rangan and Sarah Appleby
Bridges Ventures, a UK-based impact investor with double-digit returns on its investments, is reflecting on its social impact and pondering its future course. View Details
Keywords: Impact Investing; United Kingdom; Financial And Social Return; Social Enterprise; Investment Portfolio; Real Estate Industry; Real Estate Industry; Real Estate Industry; United Kingdom
Rangan, V. Kasturi, and Sarah Appleby. "Bridges Ventures." Harvard Business School Case 514-001, October 2013. (Revised October 2017.)
- November 1999 (Revised December 2009)
- Case
The IBET Pension Fund
By: Arthur I Segel
Marisa Caris oversees real estate investments for the IBET Pension Fund. She must value each of the existing eight properties and determine a strategy for going forward. A rewritten version of an earlier case. View Details
Keywords: Financial Strategy; Investment Funds; Investment Portfolio; Valuation; Real Estate Industry
Segel, Arthur I. "The IBET Pension Fund." Harvard Business School Case 800-133, November 1999. (Revised December 2009.)
- January 2007 (Revised July 2008)
- Case
Capital Field: A Room with a View
By: Nicolas P. Retsinas and Joshua Wyatt
Jerzy Peters, Managing Director of Patron Capital Partners, must decide the best investment option on the development of the Odra Polish theater chain and the associated real estate. Capital Field was a company formed by U.S.-educated Polish natives involved in real... View Details
Keywords: Investment; Emerging Markets; State Ownership; Privatization; Property; Real Estate Industry; Poland
Retsinas, Nicolas P., and Joshua Wyatt. "Capital Field: A Room with a View." Harvard Business School Case 207-091, January 2007. (Revised July 2008.)