Publications

Adi Sunderam is the Willard Prescott Smith Professor of Corporate Finance at Harvard Business School, a Research Associate at the National Bureau of Economic Research, and a Faculty Affiliate of the Harvard Economics department. He teaches Finance 2 in... View Details

Keywords: asset management; banking; brokerage; federal government; financial services; investment banking industry

Research Summary

Entrepreneurial Finance and International R&D Management

Walter Kuemmerle's research and teaching interests fall within the domain of knowledge and capital management in a global economy. His research focuses on international entrepreneurship and venture capital. He studies venture capital systems and entrepreneurship in... View Details

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

Program

Rising Generation in the Family Enterprise

related to your family business Nurture an entrepreneurial mindset across generations Understand best practices for managing family wealth, from estate planning to ensuring equity across branches of the... View Details

Article

Coming to America: IPOs from Emerging Market Issuers

By: Robert Bruner, Susan Chaplinsky and Latha Ramchand

We compare the issue costs of 299 companies from emerging and developed market countries making initial public offerings (IPOs) in the United States between 1991 and 2001. Our results indicate that IPOs from emerging markets experience the same costs on average as IPOs... View Details

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September 2011
Supplement

Expansion at Narayana Hrudayalaya

By: Tarun Khanna and Tanya Bijlani

Narayana Hrudayalaya has expanded into a multi-specialty health city in Bangalore, with a 25-acre campus that offers complex tertiary care procedures ranging from orthopedics to cancer care. In 2008, NH raised private equity from JP Morgan and Pinebridge Investments to... View Details

Keywords: Investment; Price; Health Care and Treatment; Emerging Markets; Social Enterprise; Expansion; Health Industry; Bangalore; Cayman Islands; Miami

2019
Article

Time Series Experiments and Causal Estimands: Exact Randomization Tests and Trading

By: Iavor I Bojinov and Neil Shephard

We define causal estimands for experiments on single time series, extending the potential outcome framework to dealing with temporal data. Our approach allows the estimation of a broad class of these estimands and exact randomization based p-values for testing causal... View Details

Keywords: Causality; Nonparametric; Potential Outcomes; Trading Costs; Mathematical Methods

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July 2004 (Revised July 2004)
Case

Man Group plc

By: Andre F. Perold and Herve Duteil

In 2004, Man Group was the world's largest packager and distributor of investment vehicles tied to hedge funds. The firm had an equity market capitalization of $10 billion and funds under management of $38 billion. Man's offerings spanned a wide range of risk/reward... View Details

Keywords: Capital Markets; Investment; Investment Return; Investment Funds; Global Strategy; Distribution; Product Development; Financial Services Industry

Web

Initiatives & Projects - Faculty & Research

Equity Initiative catalyzes and translates cutting-edge research to transform practice, enable leaders to drive change, and eradicate gender, race, and other forms of inequality in business and society.... View Details

May 2024 (Revised May 2025)
Case

Hakluyt: From Corporate Intelligence to Trusted Advisors

By: Joseph B. Fuller and Lena Duchene

Established in 1995 by a group of ex-British intelligence officers, Hakluyt & Company (Hakluyt) was a corporate advisory firm that generated insights by leveraging a unique blend of internal expertise and a global network of well-connected individuals. Since 2019, the... View Details

Educators

Program

Designing and Executing Corporate Revitalization

Know when and how to take advantage of financial restructuring and private equity Overcome inertia and pivot the organization Create plans for addressing current and prospective obstacles Infuse the... View Details

15 May 2019
News

How to Attract Startups and Tech Companies to a City Without Relying on Tax Breaks

Web

Site Map

Society Laboratory for Innovation Science at Harvard Leadership Managing the Future of Work Public Education Leadership Project Private Capital Project Race, Gender & Equity Research Associates Research... View Details

2024
Chapter

The Private Economy Under Party-State Capitalism

By: Margaret M. Pearson, Meg Rithmire and Kellee S. Tsai

This chapter addresses the evolution of China’s approach to the private sector from the early reform era until the beginning of Xi Jinping’s third term. It argues that China has evolved from a familiar form of state capitalism, in which economic growth is the primary... View Details

Keywords: Government Administration; International Relations; Economic Growth; Economic Sectors; Economic Systems; China

31 Oct 2023
Research & Ideas

Beyond the 'Business Case' in DEI: 6 Steps Toward Meaningful Change

More than three in four Fortune 500 companies justify their workforce diversity, equity and inclusion (DEI) efforts by making the business case. It sounds like this: By making our workforce more diverse, we’re building a more innovative... View Details

Keywords: by Katherine Hutt Scott and Barbara DeLollis

February 2025
Teaching Note

Influencer-Led Brand Building: Hairitage and the McKnights

By: William R. Kerr and James Palano

Teaching Note for HBS Case No. 825-066. Mindy McKnight started in 2009 as an early influencer on social media whose videos of creative hairstyles for girls launched her family on an entrepreneurship journey. The McKnights transitioned from YouTube ad revenue to brand... View Details

Keywords: Family Business; Social Media; Entrepreneurship; Brands and Branding; Product Launch; Power and Influence; Expansion; Beauty and Cosmetics Industry

24 Sep 2008
Working Paper Summaries

CEO and CFO Career Penalties to Missing Quarterly Analysts Forecasts

Keywords: by Rick Mergenthaler, Shiva Rajgopal & Suraj Srinivasan

January 2016 (Revised April 2017)
Case

The Galaxy Dividend Income Growth Fund's Option Investment Strategies

By: W. Carl Kester

This case is designed to provide an elementary introduction to options and option pricing for beginning finance students. Analysis of the case requires students to compare the prices of put and call options with various exercise prices and maturity dates on two... View Details

Keywords: Options; Option Contract; Option Pricing; Derivatives; Mutual Funds; Call Options; Put Options; Stock Options; Risk and Uncertainty; Volatility; Financial Services Industry; United States

Educators

2015
Working Paper

Executives' Financial Preferences and Shareholder Tax Outcomes

By: Gerardo Pérez Cavazos and Andreya M. Perez-Silva

We demonstrate that executives’ personal financial preferences impact both layers of shareholder taxes, corporate taxes and corporate payouts. We reconstruct executives’ insider equity portfolios to quantify their personal incentives and analyze stock sales that reveal... View Details

Keywords: Executives; Capital Gain; Dividends; Effective Tax Rate; Tax Avoidance; Taxation; Management Teams; Business and Shareholder Relations