Publications

July 2005 (Revised December 2005)
Case

General Motors U.S. Pension Funds

By: Luis M. Viceira and Helen Tung

In June 2003, General Motors Corp. (GM) successfully marketed the largest corporate debt offering in U.S. history, worth $17.6 billion. The offering included $13.6 billion worth of debt denominated in dollars, euros, and pounds and $4 billion dollars denominated in... View Details

Keywords: Decisions; Bonds; Investment Return; Policy; Borrowing and Debt; Corporate Finance; Auto Industry; United States

24 Aug 2016
Research & Ideas

Can Obamacare Be Saved?

On August 15th, Aetna announced that it would reduce by 80 percent its participation in the Obama administration’s public exchanges for health insurance policies in 2017, citing significant financial losses. The move came just a few weeks... View Details

Keywords: by John A. Quelch and Emily Boudreau; Insurance; Health

January 2003 (Revised June 2003)
Case

Adams Capital Management: March 2002

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

In March 2002, the five partners of Adams Capital Management (ACM), a venture capital firm investing in information technology telecommunications with $700 million under management, gathered to discuss whether they should change their strategy in view of the prolonged... View Details

Keywords: Decision Choices and Conditions; Economic Slowdown and Stagnation; Venture Capital; Investment Portfolio; Business or Company Management; Partners and Partnerships; Business Strategy; Financial Services Industry

16 Dec 2016
News

Kurt (MBA 1967) and Louise Wulff

Kurt (MBA 1967) and Louise Wulff Kurt Wulff (MBA 1967) credits Harvard Business School with changing the way he viewed decision making. Even after 50 years, he remembers Dr. Howard Raifa’s courses on game theory and View Details

October 2000
Article

The Equity Share in New Issues and Aggregate Stock Returns

By: Malcolm Baker and Jeffrey Wurgler

The share of equity issues in total new equity and debt issues is a strong predictor of U.S. stock market returns between 1928 and 1997. In particular, firms issue more equity than debt just before periods of low market returns. The equity share in new issues has... View Details

Keywords: Equity; Borrowing and Debt; Stocks; Markets; Debt Securities; Forecasting and Prediction; Accounting Industry; United States

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16 Mar 2018
News

Giving Back to Help The Next Generation

Jennifer Kelm Sergio (MBA 2010) Jennifer Kelm Sergio (MBA 2010) Jennifer Kelm Sergio (MBA 2010) remembers applying to HBS and being concerned about both the financial burden of tuition and forgoing income for two years. “Finding out that... View Details

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... View Details

Web

Entrepreneurial Finance - Course Catalog

not show up on financial statements. EF is explicitly designed to be pragmatic and to equip you with the practical tools you need, in addition to providing a broader understanding of how the financing landscape functions. We will spend... View Details

December 2004 (Revised May 2006)
Case

Pacific Salmon Company, Inc.

By: Nabil N. El-Hage, Kenneth A. Froot and Christopher Edward James Payton

RRR, a $1 billion private equity fund, is trying to decide how much to bid for Pacific Salmon Inc. and how to finance the acquisition. View Details

Keywords: Food; Bids; Private Equity; Decision Making; Financing and Loans; Bids and Bidding; Acquisition; Corporate Finance; Financial Services Industry

01 Jun 2003
News

Against All Odds

never accomplished by any other European country, despite 150 years of trying). If it sounds almost as difficult as bringing a profitable drug to market, maybe that’s why Ernesto Bertarelli (MBA ’93), CEO of the Swiss biotech company Serono International, was equal to... View Details

Keywords: America's Cup; Performing Arts, Spectator Sports, and Related Industries; Arts, Entertainment

15 May 2018
News

HBS MBA Admissions Shifts to Two Rounds

In a recent post to his “Direct from the Director” blog, HBS Managing Director of MBA Admissions and Financial Aid Chad Losee (MBA 2013) notes that the MBA application process will now include only two rounds instead of the previous... View Details

9 AM – 10 AM EDT, 30 Oct 2019
HBS Online

HBS Online Entrepreneurship Essentials

Master a proven framework for building and financing new ventures and learn to speak the language of the start-up world. Program Dates: October 30, 2019 - December 27, 2019 View Details

9 AM – 10 AM EDT, 12 Jun 2019
HBS Online

HBS Online Entrepreneurship Essentials

Master a proven framework for building and financing new ventures and learn to speak the language of the start-up world. Program Dates: June 12, 2019 - July 10, 2019 View Details

9 AM – 9 AM EST, 14 Nov 2018

HBX Entrepreneurship Essentials

Master a proven framework for building and financing new ventures and learn to speak the language of the start-up world. Program Dates: November 14, 2018 - December 12, 2018 View Details

16 May 2017
News

Facing the Board

of things. The 72 alumni were among 400 who returned to campus to join 936 students for the inaugural HBS Boardroom, a new RC capstone experience that includes first-year student teams presenting case-based management decisions to alumni... View Details

Keywords: Jennifer Myers; photos by Susan Young; Blackrock; The Boardroom

01 Dec 2017
News

Pencils Up: Taking Note of New Courses

sustainability, values alignment, and impact, creating a market that has grown almost 25 percent since 2014; it now represents $23 trillion in assets globally. “The potential to deploy capital to obtain financial returns while also doing... View Details

Keywords: Julia Hanna

May 2008
Article

Regulation and Bonding: The Sarbanes-Oxley Act and the Flow of International Listings

By: Suraj Srinivasan and Joseph Piotroski

In this paper, we examine the economic impact of the Sarbanes-Oxley Act (SOX) by analyzing foreign listing behavior onto U.S. and U.K. stock exchanges before and after the enactment of the Act in 2002. Using a sample of all listing events onto U.S. and U.K. exchanges... View Details

Keywords: Decision Choices and Conditions; Stocks; Government Legislation; Market Transactions; Motivation and Incentives; United Kingdom; United States

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August 2009 (Revised September 2009)
Case

Tenova: Mining for Growth in an Economic Crisis

By: Gary P. Pisano, Elena Corsi and Elisa Farri

In December 2008, Gianluigi Nova, CEO of Tenova SpA, a technology and equipment supplier to the metals and mining industry, had to choose between two options. The first was to continue growing in the company's core business: equipment for the steel production. The... View Details

Keywords: Decision Choices and Conditions; Financial Crisis; Leadership; Crisis Management; Growth and Development Strategy; Market Entry and Exit; Diversification; Industrial Products Industry; Mining Industry