Publications

October 2000 (Revised February 2007)
Case

Harvard Management Company and Inflation-Protected Bonds, The

By: Luis M. Viceira

In March 2000, the board of The Harvard Management Co. (HMC) approved significant changes in the policy portfolio determining the long-run allocation policy of the Harvard University endowment. These changes included a sharp reduction of the allocation to U.S. equities... View Details

Keywords: Bonds; Investment Portfolio; Investment Funds; Asset Management; Corporate Governance; Capital Markets; Financial Services Industry; United States

February 1995 (Revised September 1995)
Case

The Bourland Companies

By: William J. Poorvu and John H. Vogel Jr.

Michael Bourland, the president of the Bourland Companies, needs to refinance two properties, an office building in southern New Hampshire and a retail property in Massachusetts. He is considering three alternatives: a renewal of a bank mini-perm, a 15-year mortgage... View Details

Keywords: Capital Markets; Property; Mortgages; Family Business; Financial Management; Family Ownership; Real Estate Industry; Massachusetts; North and Central America

30 May 2000
Lessons from the Classroom

Entrepreneurship’s Wild Ride

entrepreneurial community's success has attracted capital on an unprecedented scale. The venture capital market and the market for initial public... View Details

Keywords: by William Mahoney

November 1999 (Revised April 2003)
Case

Financing the Mozal Project

By: Benjamin C. Esty and Fuaad Qureshi

It is June 1997, and a team from the International Finance Corp. (IFC) is recommending that the board approve a $120 million investment in a $1.4 billion aluminum smelter in Mozambique, known as the Mozal project. Four factors make the investment controversial: it... View Details

Keywords: Investment; Capital Markets; Emerging Markets; Projects; Financial Management; Risk and Uncertainty; Developing Countries and Economies; Metals and Minerals; Financial Strategy; Government and Politics; International Finance; Infrastructure; Mozambique

10 Nov 2003
Research & Ideas

The Hard Numbers on Social Investments

capital through their network. Results would also help IC members discuss the larger question about the relationship of financial returns and social returns. In short, should capital providers expect some... View Details

Keywords: by Manda Salls

10 Jul 2000
Research & Ideas

Entrepreneurship in Europe

advantage of the opportunity. On the question of institutional support for entrepreneurship within different countries, Kuemmerle pointed to several dimensions. "The good news is that there is increasing capital View Details

Keywords: by Kenneth Liss

December 2017
Supplement

Bega Cheese: Bidding to Bring Vegemite Back Home

By: Benjamin C. Esty and Lauren G. Pickle

In January 2017, the leadership team of Bega Cheese—the Australian dairy company—was considering a bid for Mondelēz International’s Australia and New Zealand (ANZ) grocery business which included several leading consumer brands (Vegemite—the iconic Australian spread,... View Details

February 2008
Teaching Note

DermaCare: Zapping Zits Directly (TN)

By: Richard G. Hamermesh

Teaching Note for [808064]. View Details

Keywords: Product Development; Innovation and Invention; Health Care and Treatment; Financing and Loans; Venture Capital; Advertising; Distribution; Health Industry

December 2017 (Revised January 2022)
Supplement

Bega Cheese: Bidding to Bring Vegemite Back Home

By: Benjamin C. Esty and Lauren G. Pickle

In January 2017, the leadership team of Bega Cheese—the Australian dairy company—was considering a bid for Mondelēz International’s Australia and New Zealand (ANZ) grocery business which included several leading consumer brands including Vegemite, the iconic Australian... View Details

19 Dec 2006
First Look

First Look: December 19, 2006

for peace, justice, and tolerable taxes. This paper defines capitalism as a system of indirect governance for economic relationships, where all markets exist within institutional frameworks that are provided... View Details

Keywords: Sean Silverthorne

08 Apr 2014
First Look

First Look: April 8

examples such as TripAdvisor, Wikipedia, and the New York Times, the authors offer strategies for competing in markets with network effects. New entrants should focus on customer groups that they are uniquely positioned to serve or appeal... View Details

Keywords: Sean Silverthorne

16 Sep 2014
First Look

First Look: September 16

organization's external environment. Our review of institutional strategies is focused on emerging market contexts, settings that are characterized by weak capital market and... View Details

Keywords: Sean Silverthorne

12 Mar 2018
Op-Ed

Op-Ed: Why BlackRock CEO Larry Fink Is Not a Socialist

portions of its profits in the business—through research and development, market expansion, capital expenditures, and most importantly (and often forgotten) development of talented people and leaders. This... View Details

Keywords: by Bill George; Banking

03 Jan 2017
First Look

January 3, 2017

relocation of resources in affected fund families and in the asset management industry in general, as well as decline in capital of issuers borrowing from money funds. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=51404... View Details

Keywords: Carmen Nobel

November 2005 (Revised October 2012)
Case

The MCI Takeover Battle: Verizon versus Qwest

By: Malcolm P. Baker and James Quinn

MCI's board of directors is considering competing bids from Verizon and Qwest. Qwest, a smaller company with a weaker balance sheet, is offering almost a billion dollars more. But Verizon, one of the largest telecommunications companies in the world, has a history of... View Details

Keywords: Mergers and Acquisitions; Decision Choices and Conditions; Capital Markets; Financial Strategy; Governing and Advisory Boards; Valuation; Telecommunications Industry; United States

January 2004
Article

Corporate Venturing: The Origins of Unilever's Pregnancy Test

By: Geoffrey Jones and Alison Kraft

The relative ability of different sizes of firm and organisational designs to develop and sustain dynamic capabilities in innovation and create new businesses remains a matter of contention. While Chandler among many others has emphasised the pre-eminent role of large... View Details

Keywords: Business Ventures; Organizational Design; Technological Innovation; Business Startups; Venture Capital; Brands and Branding; Multinational Firms and Management; Product Development; Product Launch; Corporate Entrepreneurship; Great Britain