Value Investing - Publications - Faculty & Research

October 1996 (Revised March 2011)
Background Note

Note on Valuation in Private Equity Settings, A

By: Josh Lerner and John Willinge

This note discusses several ways in which venture-backed firms can be valued, including comparables, net present value, decision-tree analysis, and the "venture capital method." View Details

Keywords: Entrepreneurship; Venture Capital; Private Equity; Investment; Valuation

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2020
Working Paper

Measuring the Cost of Corporate Water Usage

By: DG Park, George Serafeim and T. Robert Zochowski

We develop a methodology that calculates the impact that organizations have on the environment through their water consumption relating to water stress risk. Using the methodology, we derive estimates for four companies that show how assumptions on the geographic... View Details

Keywords: Water; Water Management; Environment; Sustainability; Environmental Impact; Impact-Weighted Accounts; IWAI; Organizations; Environmental Sustainability; Valuation

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June 2023
Supplement

Graphic Packaging: Project Cowboy (D)

By: Benjamin C. Esty, Scott Mayfield and Philipp Chvanov

Analyzes the company's decision on Project Cowboy following the events described in the C Case View Details

Keywords: Capital Budgeting; Growth Management; Demand and Consumers; Duopoly and Oligopoly; Competitive Strategy; Competitive Advantage; Expansion; Value Creation; Supply and Industry; Pulp and Paper Industry; Manufacturing Industry; United States; North America

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14 Jun 2004
Research & Ideas

The Big Money for Big Projects

matters in the investment decisions made in financing a project. Could you explain this further? A: Modigliani and Miller's (M&M) "irrelevance" proposition is one of the foundations of modern finance. It states that... View Details

Keywords: by Ann Cullen; Financial Services

08 Jul 2014
First Look

First Look: July 8

and managed as investment accounts with the goal of accumulating the largest possible pot of savings. Communication with savers is framed entirely in terms of assets and returns. Ask a saver what his 401(k) is worth and you'll hear a cash... View Details

Keywords: Carmen Nobel

01 Sep 2017
News

Case Study: Confidence Builder

Kyriacopoulos (MBA 2010) Neither proposed target market seems to be the source of a viable business model. I doubt students can or will pay for info they can get from the internet or they already know. And universities will be happy with the conventional wisdom. So... View Details

Keywords: April White; Confi; Colleges, Universities, and Professional Schools; Educational Services

01 Nov 1999
Research & Ideas

Companies, Cultures and the Transformation to the Transnational

of doing things" and shape its international organization structure and processes. Business historian Alfred Chandler has traced the influence of the cultural values and social structures on British management practice. For reasons... View Details

Keywords: by Christopher A. Bartlett & Sumantra Ghoshal

19 Aug 2013
News

Bees Make a Sweet Deal for African Farmers

environmental value simultaneously through its activities," Keshavjee explains. "It is now embarking on a massive investment with equity partners and scaling up its activities." HCA, in partnership with a... View Details

Keywords: Agriculture; Finance; Health, Social Assistance; Management

19 Feb 2019
Blog Post

The First Five Years: '30 Under 30' Edition

music that tackles issues of modern gender equality today, and I travel the world to speak and perform about these issues.” Tucker: “I’m a principal at Troy, a venture capital firm investing in what we believe are the most... View Details

Keywords: All Industries

01 Jan 2011
News

Hüsnü Özyeğin, MBA 1969

2008 Opens Özyeğin University Hüsnü Özyeğin's grandfather was a Turkish clothing merchant who didn't go to college, but he instilled in his progeny an appreciation for the value of education. The younger Özyeğin pursued his studies in the... View Details

Web

Impact Stories - Business & Environment

Investment "Compared with man-made solutions, natural infrastructure often works better, costs less, and appreciates in value over time. And it provides a host of important co-benefits, like wildlife... View Details

Web

Startups: venture-backed, by industry, geography, funding amounts & rounds | Baker Library

select Year Founded. Enter desired value. By adding a fairly recent founding date, this helps ensure that the funding was recent (there's no way to add a date value to the funding in a company screening). You can also narrow down by... View Details

09 Jan 2006
Research & Ideas

Rebuilding Commercial Real Estate

Students of recent United States real estate history can't help but notice unsettling parallels between the red-hot commercial market of the late 1980s and today. Then, as now, money gushed into the market, driving office and retail property View Details

Keywords: by Roger Thompson; Construction; Real Estate

15 Aug 2019
Blog Post

Stan Chang: “A Guided Experience into the World of Entrepreneurship”

end-user’s experience, gathering the resources needed for development, and building a business model to understand the value of the investment for the company. On a more personal note, Stan says that before... View Details

Keywords: Technology; Entrepreneurship

01 Sep 2016
Blog Post

Reflecting on the HKS/HBS Joint Degree Program

public and private sectors. I chose to pursue this joint degree because I hope to one day work for the government of Mexico, spearheading programs that create more competitive manufacturing and financial sectors in my home country. As a student interested in... View Details

18 May 2011
News

U.S. Manufacturing Comeback?

thousands of former U.S. manufacturing jobs, will all but disappear as Chinese wages and the value of the yuan continue to rise. “All over China, wages are climbing at 15 to 20 percent a year because of the supply-and-demand imbalance for... View Details

Keywords: Roger Thompson; Manufacturing

30 Jan 2012
News

Shopping Around

quasi-judicial processes. Moreover the planning authorities in just about every country still dislike out-of-town retail developments.” Overcoming this resistance requires an “extraordinary” investment in soft costs to enable McArthurGlen... View Details

Keywords: real estate; shopping; Clothing and Clothing Accessories Stores; Retail Trade

11 Apr 2007
Research & Ideas

Adding Time to Activity-Based Costing

be possible without the power of ERP systems. Many companies invested tens or hundreds of millions in their ERP systems but found it difficult to identify a return on investment from their spending.... View Details

Keywords: by Sarah Jane Gilbert

06 Nov 2012
Op-Ed

Stop Talking About the Weather and Do Something: Three Ways to Finance Sustainable Cities

The wrath of Hurricane Sandy has illuminated a fundamental question: How do we ensure that our cities are resilient in the face of inevitable future disasters? A destroyed city is not a sustainable city. I'm making the case that it's time to stop complaining about... View Details

Keywords: by John Macomber; Construction; Real Estate; Energy; Utilities

November 2006 (Revised June 2010)
Case

SUN Brewing (B)

In July 2004, Shiv, Nand, and Uday Khemka are discussing their holdings in SUN Interbrew, a leading Russian beer producer that is part of the family's global portfolio of businesses. SUN Interbrew has been operating as a joint venture since 1998, when the Khemka... View Details

Keywords: Mergers and Acquisitions; Investment; Globalized Markets and Industries; Ownership Stake; Family Ownership; Valuation; Food and Beverage Industry; Russia

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