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- August 2005
- Background Note
Dual Class Share Companies
By: Samuel L. Hayes III, Lynn S. Paine and Christopher Bruner
Provides a brief historical overview of dual class share companies in the United States, focusing on the New York Stock Exchange's evolving position on dual class structures since the 1920s, the impact of hostile takeovers on their use since the 1980s, and recent... View Details
Keywords: Acquisition; Debates; Capital Structure; Equity; Business History; Law; Organizational Structure; Business and Shareholder Relations; Perspective; Europe; United States
Hayes, Samuel L., III, Lynn S. Paine, and Christopher Bruner. "Dual Class Share Companies." Harvard Business School Background Note 306-032, August 2005.
- Article
Coercive Dual Class Exchange Offers
By: R. S. Ruback
Ruback, R. S. "Coercive Dual Class Exchange Offers." Journal of Financial Economics 20 (January–March 1988): 153–173.
- September 2016
- Article
Disproportional Control Rights and the Bonding Role of Debt
By: Aiyesha Dey, Valeri Nikolaev and Xue Wang
We examine the governance role of debt in the context of U.S.-based dual class ownership structures. We hypothesize that the use of debt alleviates the conflict between shareholder classes by balancing the power of controlling insiders. We document that dual class... View Details
Keywords: Dual Class; Private Debt; Debt Covenants; Bonding Mechanisms; Ownership Type; Capital Structure; Borrowing and Debt
Dey, Aiyesha, Valeri Nikolaev, and Xue Wang. "Disproportional Control Rights and the Bonding Role of Debt." Management Science 62, no. 9 (September 2016): 2581–2614.
- October 2013 (Revised September 2014)
- Case
The TELUS Share Conversion Proposal
By: Lucy White, Benjamin C. Esty and Lisa Mazzanti
On February 21, 2013, TELUS announced a proposal to convert the firm's non-voting shares into voting shares on a one-to-one basis, thereby eliminating the firm's dual class structure. Shareholders were scheduled to vote on the proposal at the firm's annual general... View Details
Keywords: Proxy Contest; Proxy Battle; Proxy Advisor; ISS; Glass Lewis ＆ Co.; Hedge Fund; Short Selling; Share Lending; Telecommunications; Voting Rights; Empty Voting; Equity Decoupling; Share Unification; Dual Class Shares; Canada; Exchange Ratio; Shareholder Activism; Shareholder Votes; Investment Activism; Public Equity; Capital Structure; Investment Return; Corporate Governance; Corporate Finance; Ownership Stake; Business and Shareholder Relations; Valuation; Telecommunications Industry; Canada; British Columbia; United States; New York (city, NY)
White, Lucy, Benjamin C. Esty, and Lisa Mazzanti. "The TELUS Share Conversion Proposal." Harvard Business School Case 214-001, October 2013. (Revised September 2014.)
- March 2014 (Revised May 2014)
- Teaching Note
The TELUS Share Conversion Proposal
By: Lucy White and Benjamin C. Esty
On February 21, 2013, TELUS announced a proposal to convert the firm's non-voting shares into voting shares on a one-to-one basis, thereby eliminating the firm's dual class structure. Shareholders were scheduled to vote on the proposal at the firm's annual general... View Details
Keywords: Proxy Contest; Proxy Battle; Proxy Advisor; ISS; Glass Lewis ＆ Co.; Hedge Fund; Short Selling; Share Lending; Telecommunications; Voting Rights; Empty Voting; Equity Decoupling; Share Unification; Dual Class Shares; Canada; Exchange Ratio; Shareholder Activism; Shareholder Votes; Investment Activism; Public Equity; Capital Structure; Investment Return; Corporate Governance; Corporate Finance; Ownership Stake; Business and Shareholder Relations; Valuation; Telecommunications Industry; Canada; British Columbia; United States; New York (city, NY)
- October 2013 (Revised May 2014)
- Supplement
The TELUS Share Conversion Proposal, Spreadsheet Supplement
By: Lucy White and Benjamin C. Esty
A proxy battle between a Canadian firm and a US hedge fund over a proposal to unify the firm's dual class share structure. View Details
- Teaching Interest
Demystifying the Family Enterprise
This course is primarily designed for students who are pursuing a career in family run businesses, family owned businesses, investment roles in family offices, or students that might invest in or wholly purchase a family owned business through a private equity firm,... View Details
- Article
Preventing Fairness Gerrymandering: Auditing and Learning for Subgroup Fairness
By: Michael J Kearns, Seth Neel, Aaron Leon Roth and Zhiwei Steven Wu
The most prevalent notions of fairness in machine learning are statistical definitions: they fix a small collection of pre-defined groups, and then ask for parity of some statistic of the classifier (like classification rate or false positive rate) across these groups.... View Details
Kearns, Michael J., Seth Neel, Aaron Leon Roth, and Zhiwei Steven Wu. "Preventing Fairness Gerrymandering: Auditing and Learning for Subgroup Fairness." Proceedings of the International Conference on Machine Learning (ICML) 35th (2018).
- 27 Jun 2013
- Working Paper Summaries
Social Norms Versus Social Responsibility: Punishing Transgressions Under Conflicting Obligations
- 14 Jul 2020
- Research & Ideas
Restarting Under Uncertainty: Managerial Experiences from Around the World
As economies reopen after forced shutdowns caused by COVID-19, managers around the world are faced with a dual challenge: keep the workforce safe while preserving business viability in an evolving and volatile market. How should... View Details
- 16 Nov 1999
- Lessons from the Classroom
Leading Change and Organizational Renewal
organization in an ongoing process of change and revitalization is necessarily complex. Pitfalls lie waiting where least expected. To avoid the cyclical trap of success-failure-rebirth, firms need to develop competency in simultaneously sustaining a View Details
Keywords: by Staff
- 05 Feb 2013
- First Look
First Look: Feb. 5
PublicationsIn Search of the Self at Work: Young Adults' Experiences of a Dual Identity Organization Authors:Anteby, Michel, and Amy Wrzesniewski Publication:Research in Sociology of Work Abstract Purpose: Multiple forces that shape the... View Details
Keywords: Sean Silverthorne
- 20 Oct 2009
- First Look
First Look: October 20
School Case 310-011 Acumen Fund is a global venture capital firm with a dual purpose: it looks for a return on its investments, and it also seeks entrepreneurial solutions to global poverty. This case examines Acumen's new projects in... View Details
Keywords: Martha Lagace
- 08 Nov 2016
- First Look
November 8, 2016
work in linked fields. Our analysis uses 1.8 million U.S. patents and their citation properties to map the innovation network and its strength. Past innovation network structures are calculated using citation patterns across technology View Details
Keywords: Sean Silverthorne
- 02 May 2000
- Research & Ideas
Leading Professional Service Firms
reflect on the material and ideas discussed in class and apply it to their own situations. This is a rich opportunity for sharing information in an informal atmosphere in which participants can build relationships with each other that... View Details
- 21 Jan 2014
- First Look
First Look: January 21
TELUS Share Conversion Proposal On February 21, 2013, TELUS announced a proposal to convert the firm's non-voting shares into voting shares on a one-to-one basis, thereby eliminating the firm's dual class... View Details
Keywords: Sean Silverthorne
- 17 Apr 2006
- Research & Ideas
Resisting the Seductions of Success
with them. At first, Tony's crime and confession are hard to explain. With Tony Lowder, Louis Auchincloss draws on his extraordinary dual career to give us a strikingly contemporary perspective on the hazards of success and the ways... View Details
- 30 Jan 2019
- What Do You Think?
Who Will Measure up to These Two Remarkable Leaders?
Dimon, CEO of JP Morgan, whom he cited for his approach of “doing business in a first class way.” Dimon majored in psychology and economics at Tufts University and completed an MBA at the Harvard Business School. Darmody1 added other... View Details
- 15 Nov 2011
- First Look
First Look: November 15
the compact arrangement of buildings, efficient use of water and power, and deployment of transit that reduces congestion. Investment and urban planning in three Asian cities are profiled as illustrations. Two sample proformas featuring multiple View Details
Keywords: Sean Silverthorne
- 07 Mar 2017
- First Look
First Look at New Research, March 7
way without compromising the ability of conventional monetary policy to focus on its traditional dual mandate of promoting maximum employment and stable prices. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=52330... View Details
Keywords: Sean Silverthorne