Publications

18 Jun 2012
News

Web Sites Illuminate Unknown Artists

January 1993 (Revised May 2004)
Case

Laurinburg Precision Engineering

By: William J. Bruns Jr.

A small manufacturer needs additional financing for expansion and production improvements. A bond issue would provide needed funds, and a zero-coupon bond would delay payments until funds provided by operations were available. Present value tables are included. View Details

Keywords: Valuation; Bonds; Financing and Loans; Interest Rates; Manufacturing Industry

February 2003 (Revised March 2007)
Case

Internet Customer Acquisition Strategy at Bankinter

By: Francisco de Asis Martinez-Jerez, V.G. Narayanan and Lisa Brem

Bankinter, a relatively small Spanish bank, has a large presence as an Internet financial services provider. Leading the way to profitability through the Internet will give Bankinter a major competitive advantage over the larger, more established Spanish banks. Ann... View Details

Keywords: Customer Relationship Management; Internet and the Web; Activity Based Costing and Management; Customer Value and Value Chain; Banks and Banking; Banking Industry; Spain

January 2022
Background Note

Residual Income Valuation Model

By: Charles C.Y. Wang and Albert Shin

This note explains the residual income valuation model (RIM), how it relates to "traditional" valuation models, the intuition behind its use, and empirical research related to its value relevance. RIM is theoretically equivalent to the dividend discount model and the... View Details

Keywords: Residual Income Valuation; Valuation; Research; Theory; Measurement and Metrics; Performance; Financial Management; Business Strategy

19 Sep 2018
News

Uninformed Consent

18 Aug 2017
Op-Ed

Op-Ed: Courageous Leader Triggers a Moral Revolt of CEOs Against Trump

CEOs are public figures, with responsibility to uphold their company’s mission and values. When these values are violated, even by someone as powerful as the president of the United States, they are obliged to take a clear stand. In this... View Details

Keywords: by Bill George

April 2023
Article

The Stock Market Valuation of Human Capital Creation

By: Ethan Rouen and Matthias Regier

We develop a measure of firm-year-specific human capital investment from publicly disclosed personnel expenses (PE) and examine the stock market valuation of this investment. Measuring the future value of PE (PEFV) based on the relation between... View Details

Keywords: Intangibles; Valuation; Human Capital; Investment Return

Read Now

September 2010 (Revised July 2012)
Case

Citigroup 2007: Financial Reporting and Regulatory Capital

By: Suraj Srinivasan, Edward J. Riedl and Sharon Katz

This case introduces 1) financial statements for banks, 2) basic regulatory capital calculations, and 3) actions Citigroup must consider under a scenario of continued losses/fair value declines in 2008 (leading to potential violation of regulatory capital). View Details

Keywords: Fair Value Accounting; Financial Reporting; Financial Statements; Financial Crisis; Capital; Financial Strategy; Governing Rules, Regulations, and Reforms; Banking Industry; United States

October 2011
Case

Strategy and Governance at Yahoo! Inc.

By: Krishna G. Palepu, Suraj Srinivasan, David Lane and Ian McKown Cornell

Yahoo! faces a number of governance and strategic challenges in late 2011 as it tries to compete with rivals such as Google and find ways to monetize its shareholding and business links with Alibaba Group in China and Yahoo! Japan. The company is now valued at almost... View Details

Keywords: Competitive Strategy; Corporate Governance; Web Services Industry

04 Oct 2019
Video

Anil Jain

Anil Jain, head of the India-based agribusiness Jain Irrigation Systems, describes the influence of Gandhi on his father, and on the values incorporated in his business.View Details

October 2002 (Revised December 2003)
Case

eShip-4U

By: Roy D. Shapiro and Timothy M. Laseter

eShip is a small Israeli start-up with a potentially exciting new concept for the residential package-delivery value chain--the Automatic Delivery Machine (ADM). Much like today's ubiquitous ATMs, ADMs would allow consumers to have parcels delivered to a nearby ADM... View Details

Keywords: Business Startups; Business Model; Service Operations; Logistics; Corporate Strategy; Information Technology; Competitive Strategy; Value Creation; Saving; Innovation and Invention; Transportation Industry; Service Industry; Shipping Industry; Israel; United States

July 2011
Article

Mixed Source

By: Ramon Casadesus-Masanell and Gaston Llanes

We study competitive interaction between a profit-maximizing firm that sells software and complementary services and a free open source competitor. We examine the firm's choice of business model between the proprietary model (where all software modules are... View Details

Keywords: Competition; Open Source Distribution; Profit; Sales; Applications and Software; Service Operations; Business Model; Decision Choices and Conditions; Quality; Value Creation

Find at Harvard

Research Summary

Precautionary Bidding in Auctions

Joint work with Peter Esö, MEDS Department, Kellogg School of Management

We analyze bidding behavior in auctions when risk-averse bidders bid for an object whose value is risky. We show... View Details

September 2012
Teaching Note

Vodafone Japan (A), (B) and (C) (TN)

By: Juan Alcacer

The series of three cases is used in Harvard Business School's (HBS) elective course "Competing Globally" as the second case in the first module (Why?: Strategies to create value globally) (See "Competing Globally: Course Note for Instructors", HBS 713-422). The module... View Details

Keywords: Telecommunications; Technological Innovation; Technology Strategy; Operations Strategy; Information Technology; Operations; Mobile and Wireless Technology; Strategy; Telecommunications Industry; Japan

November 2018 (Revised April 2019)
Case

Zespri Grows

By: David E. Bell and Natalie Kindred

Controlling about a third of global kiwifruit exports by volume and nearly half by value in 2018, Zespri was a grower-owned “corporatized cooperative” with the exclusive right to export New Zealand-grown kiwifruit (except to Australia). Zespri did not grow fruit but... View Details