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  • April 2005 (Revised August 2011)
  • Case

Berkshire Partners: Bidding for Carter's

By: Malcolm P. Baker and James Quinn
A five-member team from Berkshire Partners must recommend a final bid and financial structure for a leveraged buyout of William Carter Co., a leading producer of children's apparel. Investorcorp, a global investment group, has put the company up for auction. Goldman... View Details
Keywords: Leveraged Buyouts; Capital Structure; Private Equity; Financing and Loans; Auctions; Bids and Bidding; Valuation; Apparel and Accessories Industry
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Baker, Malcolm P., and James Quinn. "Berkshire Partners: Bidding for Carter's." Harvard Business School Case 205-058, April 2005. (Revised August 2011.)
  • 17 May 2012
  • Working Paper Summaries

Is a VC Partnership Greater Than the Sum of Its Partners?

Keywords: by Michael Ewens & Matthew Rhodes-Kropf; Financial Services
  • September 1998 (Revised May 2011)
  • Background Note

Note on Private Equity Information Sources

By: Josh Lerner and Ann Leamon
Provides an overview of key information sources about venture capital and private equity. View Details
Keywords: Venture Capital; Private Equity; Investment; Knowledge Acquisition
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Lerner, Josh, and Ann Leamon. "Note on Private Equity Information Sources." Harvard Business School Background Note 299-018, September 1998. (Revised May 2011.)
  • 14 Oct 2010
  • News

Harvard Business School Receives $50 Million Gift from the Tata Trusts and Companies

    Reza R. Satchu

    Reza Satchu is a Senior Lecturer in the Entrepreneurship Management Unit at the Harvard Business School where he teaches The Entrepreneurial Manager, The Founder Mindset and Founder Launch. He is also the Founder, Managing Partner and majority shareholder of... View Details

    • January 2009
    • Case

    Berkshire Hathaway

    By: Bharat N. Anand and Samhita Patwardhan Jayanti
    Berkshire Hathaway describes the history and strategy of one of the best known investment firms over the last forty years. The case describes the investment philosophy of Warren Buffett, its legendary chairman and CEO, the gradual diversification of its portfolio, its... View Details
    Keywords: History; Private Equity; Diversification; Resource Allocation; Investment Portfolio; Corporate Strategy; Investment; Corporate Governance
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    Anand, Bharat N., and Samhita Patwardhan Jayanti. "Berkshire Hathaway." Harvard Business School Case 709-449, January 2009.

      Robin Greenwood

      Robin is the George Gund Professor of Finance and Banking at Harvard Business School. He serves as the Senior Associate Dean for Faculty Development and Research. He is past faculty director of the Behavioral Finance and Financial Stability project, chair of... View Details

      Keywords: banking; financial services
      • October 1995
      • Case

      Centex Telemanagement, Inc. (A)

      By: William A. Sahlman and Andrew S. Janower
      Contains a description of the events surrounding the financing of Centex Telemanagement, Inc. by Sierra Ventures, a venture capital fund. The case is written from the perspective of the venture capitalists and is designed to teach students about the process of venture... View Details
      Keywords: Business Startups; Venture Capital; Entrepreneurship; Financing and Loans
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      Sahlman, William A., and Andrew S. Janower. "Centex Telemanagement, Inc. (A)." Harvard Business School Case 396-101, October 1995.
      • January 2021 (Revised May 2021)
      • Case

      Delta Air Lines: Navigating the COVID-19 Storm

      By: Ted Berk and Ryan Flamerich
      This case examines Delta Air Lines’ response as demand for its services plummeted in the face of the COVID-19 pandemic, with a focus on the company’s funding needs and capital structure. Following a series of initial actions, the company’s cash “burn” had reduced from... View Details
      Keywords: COVID-19; Health Pandemics; Financial Condition; Capital Structure; Crisis Management; Risk Management; Business and Stakeholder Relations; Air Transportation Industry
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      Berk, Ted, and Ryan Flamerich. "Delta Air Lines: Navigating the COVID-19 Storm." Harvard Business School Case 221-063, January 2021. (Revised May 2021.)
      • January 2024
      • Article

      Investing with the Government: A Field Experiment in China

      By: Emanuele Colonnelli, Bo Li and Ernest Liu
      We study the demand for government participation in China’s venture capital and private equity market. We conduct a large-scale, non-deceptive field experiment in collaboration with the leading industry service provider, through which we survey both capital investors... View Details
      Keywords: Venture Capital; Private Equity; Business and Government Relations; Entrepreneurship; China
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      Colonnelli, Emanuele, Bo Li, and Ernest Liu. "Investing with the Government: A Field Experiment in China." Journal of Political Economy 132, no. 1 (January 2024): 248–294.
      • November 1997 (Revised August 1998)
      • Case

      Palm Computing, Inc. 1995: Financing Challenges

      By: Myra M. Hart and Stephanie Dodson
      The president, Donna Dubinsky, and the chairman and founder, Jeff Hawkins, discuss an opportunity to sell their company to U.S. Robotics. They must weigh this option versus accepting venture capital funding, partnering with a large company that could provide... View Details
      Keywords: Venture Capital; Partners and Partnerships; Business Exit or Shutdown; Decision Choices and Conditions; Computer Industry; Information Technology Industry
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      Hart, Myra M., and Stephanie Dodson. "Palm Computing, Inc. 1995: Financing Challenges." Harvard Business School Case 898-090, November 1997. (Revised August 1998.)
      • January 1985 (Revised February 1997)
      • Case

      Lotus Development Corp.

      By: William A. Sahlman
      Contains a description of the history and venture capital financing of Lotus Development. Focuses on issues related to the possible terms of investment in Lotus by a major venture capital firm. The pedagogic objectives in the case are: to explore the elements of the... View Details
      Keywords: Technological Innovation; Business or Company Management; Venture Capital; Organizational Structure; Entrepreneurship; Financing and Loans; Outcome or Result; Corporate Finance; Planning; Computer Industry
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      Sahlman, William A. "Lotus Development Corp." Harvard Business School Case 285-094, January 1985. (Revised February 1997.)
      • 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
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      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.)
      • June 2004
      • Case

      TechnoServe and the Tanzanian Specialty Coffee Industry

      In 2003, TechnoServe, a U.S.-based, international, nonprofit organization, was deciding how to structure the capital investments required for Tanzanian business groups to acquire coffee bean central pulperies. This case explores the challenges of capital budgeting and... View Details
      Keywords: Small Business; Nonprofit Organizations; Cash Flow; Emerging Markets; Financing and Loans; Capital Budgeting; Tanzania
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      Hecht, Peter A., and Salim Haji. "TechnoServe and the Tanzanian Specialty Coffee Industry." Harvard Business School Case 204-153, June 2004.
      • 2010
      • Working Paper

      Does Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2007-2009 Financial Crisis

      We show that the value of corporate diversification increased during the 2007-2009 financial crisis. Diversification gave firms both financing and investment advantages. First, conglomerates became significantly more leveraged relative to comparable focused firms.... View Details
      Keywords: Diversification; Financial Crisis; Resource Allocation; Investment; Financing and Loans; Business Conglomerates; Capital Markets
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      Kuppuswamy, Venkat, and Belen Villalonga. "Does Diversification Create Value in the Presence of External Financing Constraints? Evidence from the 2007-2009 Financial Crisis." Harvard Business School Working Paper, No. 10-101, May 2010. (Revised November 2010.)
      • May 2014
      • Article

      Investment Incentives in Labor Market Matching

      By: John William Hatfield, Fuhito Kojima and Scott Duke Kominers
      We provide an illustration of how the design of labor market clearing mechanisms can affect incentives for human capital acquisition. Specifically, we extend the labor market matching model (with discrete transfers) of Kelso and Crawford (1982) to incorporate the... View Details
      Keywords: Human Capital; Marketplace Matching
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      Hatfield, John William, Fuhito Kojima, and Scott Duke Kominers. "Investment Incentives in Labor Market Matching." American Economic Review: Papers and Proceedings 104, no. 5 (May 2014): 436–441.
      • October 1973 (Revised May 1983)
      • Case

      Zenith Radio Corp. (A)

      By: Robert H. Hayes
      Provides an analysis of capital investment (new plant and equipment), production, and operations management. View Details
      Keywords: Management; Capital; Investment; Production; Infrastructure
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      Hayes, Robert H. "Zenith Radio Corp. (A)." Harvard Business School Case 674-026, October 1973. (Revised May 1983.)
      • August 2000 (Revised July 2002)
      • Background Note

      Fundamental Enterprise Valuation: Introduction

      By: Carliss Y. Baldwin
      The purpose of this series of notes is to define the key "drivers" of the fundamental value of equity and to illustrate how these drivers determine the future cash flows and the "present value pattern" of the underlying common stock. The series includes one technical... View Details
      Keywords: Equity; Cash Flow; Valuation; Investment; Investment Return; Cost; Capital
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      Baldwin, Carliss Y. "Fundamental Enterprise Valuation: Introduction." Harvard Business School Background Note 801-121, August 2000. (Revised July 2002.)
      • September 2000 (Revised April 2011)
      • Background Note

      Note on the Private Equity Fundraising

      By: Josh Lerner, G. Felda Hardymon and Ann Leamon
      Provides an overview of raising venture capital and private equity funds. View Details
      Keywords: Venture Capital; Private Equity; Investment Funds
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      Lerner, Josh, G. Felda Hardymon, and Ann Leamon. "Note on the Private Equity Fundraising." Harvard Business School Background Note 201-042, September 2000. (Revised April 2011.)
      • Career Coach

      Lauren Weston

      Lauren enjoys helping students navigate career paths in investment banking, venture capital/growth equity, and impact investing. In the six years prior to HBS, she worked in a number of roles across capital markets, equity research,... View Details
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