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Show Results For
-
All HBS Web
(2,034)
- People (12)
- News (388)
- Research (1,162)
- Events (1)
- Multimedia (4)
- Faculty Publications (770)
- October 2019
- Case
Harlem Capital: Changing the Face of Entrepreneurship (A)
By: George Serafeim and David Freiberg
Jarrid Tingle and Henri Pierre-Jacques had spent the summer between their first and second years of their Harvard Business School MBA program fund raising for their start-up venture capital (VC) firm, Harlem Capital Partners. Harlem Capital was founded upon the...
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Keywords:
Impact Investing;
Gender Bias;
Gender Inequality;
Minority Representation;
Entrepreneurial Finance;
Investment Management;
Investing;
Inequality;
Race And Ethnicity;
Black Entrepreneurs;
Black Inventors;
Black Leadership;
Venture Investing;
Fund Raising;
Venture Capital;
Entrepreneurship;
Diversity;
Gender;
Race;
Equality and Inequality;
Equity;
Mission and Purpose;
Investment Funds;
Financial Services Industry;
United States
Serafeim, George, and David Freiberg. "Harlem Capital: Changing the Face of Entrepreneurship (A)." Harvard Business School Case 120-040, October 2019.
- 2021
- Working Paper
The Value of Intermediation in the Stock Market
By: Marco Di Maggio, Mark Egan and Francesco Franzoni
We estimate a structural model of broker choice to quantitatively decompose the value that institutional investors attach to broker services. Studying over 300 million institutional equity trades, we find that investors are sensitive to both explicit and implicit...
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Keywords:
Financial Intermediation;
Institutional Investors;
Research Analysts;
Broker Networks;
Equity Trading;
Institutional Investing;
Financial Services Industry
Di Maggio, Marco, Mark Egan, and Francesco Franzoni. "The Value of Intermediation in the Stock Market." Harvard Business School Working Paper, No. 20-016, August 2019. (Revised June 2021. Accepted at the Journal of Financial Economics.)
- May 2018 (Revised June 2018)
- Case
Cowen Inc.: Leveraging Data
By: Boris Groysberg, Sarah Abbott and Annelena Lobb
Cowen Inc.’s broker-dealer, Cowen and Company, LLC, boasted a number of analysts who had made prescient stock calls on the basis of creative data analysis. Now Cowen Inc. had opened a new subsidiary, Kyber, which would attempt to monetize new data science products....
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Keywords:
Data Science;
Equity Research;
Research Analysts;
Investment;
Analytics and Data Science;
Equity;
Research;
Analysis;
Competitive Strategy
Groysberg, Boris, Sarah Abbott, and Annelena Lobb. "Cowen Inc.: Leveraging Data." Harvard Business School Case 418-035, May 2018. (Revised June 2018.)
- July 2018 (Revised July 2018)
- Teaching Note
Argentina Power—Don’t Cry for Me Argentina
By: Nori Gerardo Lietz and Sayiddah Fatima McCree
Teaching Note for HBS No. 218-041. This case concerns a complex potential energy infrastructure investment in Argentina by a global conglomerate shortly after Mauricio Macri (“Macri”) became President of Argentina in 2015. The central issues are (i) why was a country...
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- March 2016 (Revised October 2018)
- Case
Project Deutschland: Unpeeling the Onion of a Distressed Real Estate Portfolio
By: Nori Gerardo Lietz and Ricardo Andrade
James Tallest analyzed the opportunity to invest in a distressed portfolio of high quality properties in Germany by acquiring one or more non-performing loans from Deutschland Bank. While he considers the many aspects of the deal that is about to unfold, he must decide...
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Keywords:
Real Estate;
Distress Investing;
Non-performing Loan;
Borrowing and Debt;
Capital Structure;
Private Equity;
Negotiation Deal;
Valuation;
Real Estate Industry;
Financial Services Industry;
Germany;
Europe
Lietz, Nori Gerardo, and Ricardo Andrade. "Project Deutschland: Unpeeling the Onion of a Distressed Real Estate Portfolio." Harvard Business School Case 216-055, March 2016. (Revised October 2018.)
- Article
How will Emerging Markets Shape the Alternative Assets Arena?
By: Roberto Charvel
This article looks at the growth of pensions in Latin America and its future impact in local alternative assets' investments locally and in the developed world.
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Keywords:
Emerging Economies;
Emerging Markets;
Pension;
Institutional Investments;
Alternative Assets;
Venture Capital;
Private Equity;
Entrepreneurship;
Financial Services Industry;
Latin America
Charvel, Roberto. "How will Emerging Markets Shape the Alternative Assets Arena?" Venture Equity Latin America 10, no. 15 (September 15, 2011).
- February 2019 (Revised October 2019)
- Teaching Note
The Rise Fund: TPG Bets Big on Impact
By: Vikram S Gandhi, Caitlin Reimers Brumme and Sarah Mehta
Teaching Note for HBS No. 318-041.
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- Article
Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach
By: Akash Chattopadhyay, Matthew R. Lyle and Charles C.Y. Wang
This study provides the first large-scale study of the performance of expected-return proxies (ERPs) internationally. Analyst-forecast-based ICCs are sparsely populated and not robustly associated with future returns. Earnings-model-forecast-based ICCs are...
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Keywords:
Expected Returns;
Discount Rates;
Fundamental Valuation;
Implied Cost Of Capital;
International Equity Markets;
Present Value;
Investment Return;
Equity;
Markets;
Global Range
Chattopadhyay, Akash, Matthew R. Lyle, and Charles C.Y. Wang. "Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach." Accounting Review 97, no. 2 (March 2022): 107–133.
- November 2019 (Revised June 2020)
- Case
Shiseido Acquires Drunk Elephant
By: Jill Avery
On October 7, 2019, the Shiseido Group announced that it would acquire clean skincare brand Drunk Elephant for $845 million, a valuation of 8.5 times sales. Did Shiseido pay too much or too little for this brand asset? How much was the Drunk Elephant brand worth and...
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Keywords:
Personal Care;
Startup;
Brand Equity;
Brand Valuation;
Brand Value;
Brand Storytelling;
Brand Management;
Brands and Branding;
Valuation;
Marketing;
Marketing Strategy;
Mergers and Acquisitions;
Entrepreneurship;
Business Startups;
Beauty and Cosmetics Industry;
Consumer Products Industry;
United States;
Japan
Avery, Jill. "Shiseido Acquires Drunk Elephant." Harvard Business School Case 520-052, November 2019. (Revised June 2020.)
- 22 Dec 2022
- Blog Post
Climate Stories Episode #13: Democratizing Climate Returns - Nisha Desai (HBS 1997), Founder and CEO of Invest With Intention
don’t have enough capital to invest in the best deals. Why don’t we have the ability to get the same returns as infrastructure limited partnerships or banks or private equity firms?” Here’s the thesis: Nisha...
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- May 2016 (Revised August 2019)
- Teaching Note
Project Deutschland: Unpeeling the Onion of a Distressed Real Estate Portfolio
By: Nori Gerardo Lietz and Ricardo Andrade
James Tallest analyzed the opportunity to invest in a distressed portfolio of high quality properties in Germany by acquiring one or more non-performing loans from Deutschland Bank. While he considers the many aspects of the deal that is about to unfold, he must decide...
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- October 2019
- Supplement
Harlem Capital: Changing the Face of Entrepreneurship (B)
By: George Serafeim and David Freiberg
The (B) case describes Tingle and Pierre-Jacques’ decision to commit fully to Harlem Capital as their post-graduation job. The case explores the results of their fundraising efforts, new strategic partnerships, and how they plan to “build the market” in order to...
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Keywords:
Impact Investing;
Gender Bias;
Gender Inequality;
Minority Representation;
Entrepreneurial Finance;
Investment Management;
Investing;
Inequality;
Venture Capital;
Entrepreneurship;
Diversity;
Gender;
Equality and Inequality;
Equity;
Mission and Purpose;
Investment Funds;
Financial Services Industry
Serafeim, George, and David Freiberg. "Harlem Capital: Changing the Face of Entrepreneurship (B)." Harvard Business School Supplement 120-041, October 2019.
- May 2022 (Revised April 2024)
- Case
Third Point in 2020: Growth Is Where the Value Is?
By: Robin Greenwood, James Williams and Denise Han
In early May 2020, Daniel Loeb’s team at Third Point was evaluating a potential growth opportunity in the Walt Disney Company and whether investor activism might play a role. Battered by the effects of COVID-19, the company’s stock had initially tumbled to $86 and then...
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Keywords:
Growth;
Equity;
Disney;
Value;
COVID-19 Pandemic;
Economics;
Strategy;
Growth and Development;
Investment Return;
Opportunities;
Business and Stakeholder Relations;
North America
Greenwood, Robin, James Williams, and Denise Han. "Third Point in 2020: Growth Is Where the Value Is?" Harvard Business School Case 222-029, May 2022. (Revised April 2024.)
- August 2014 (Revised March 2015)
- Case
Molycorp: Issuing the 'Happy Meal' Securities (B)
By: Benjamin C. Esty and E. Scott Mayfield
Molycorp, the Western hemisphere's only producer of rare earth minerals, was in the middle of a $1 billion capital expansion in its effort to become a vertically integrated supplier of rare earth minerals, oxides, and metals. After reporting lower than expected...
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Keywords:
Convertible Debt;
Uncertainty;
Startup;
Growth;
Rare Earth Minerals;
Mining;
Hedge Funds;
Short Selling;
Equity Capital;
Capital Structure;
Financial Strategy;
Valuation;
Metals and Minerals;
Equity;
Capital;
Debt Securities;
Stock Shares;
Financial Management;
Mining Industry;
Industrial Products Industry;
Canada;
California
Esty, Benjamin C., and E. Scott Mayfield. "Molycorp: Issuing the 'Happy Meal' Securities (B)." Harvard Business School Case 215-014, August 2014. (Revised March 2015.)
- May 2013
- Article
The Stock Selection and Performance of Buy-Side Analysts
Prior research on equity analysts focuses almost exclusively on those employed by sell-side investment banks and brokerage houses. Yet investment firms undertake their own buy-side research and their analysts face different stock selection and recommendation incentives...
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Keywords:
Buy-side Analysts;
Sell-side Analysts;
Stock Recommendations;
Recommendation Optimism;
Recommendation Performance;
Investment Recommendations;
Conflicts Of Interest;
Financial Markets;
Financial Institutions;
Financial Services Industry;
United States
Groysberg, Boris, Paul Healy, George Serafeim, and Devin Shanthikumar. "The Stock Selection and Performance of Buy-Side Analysts." Management Science 59, no. 5 (May 2013): 1062–1075.
- December 2012 (Revised May 2014)
- Case
Hotel Ivory
By: Arthur I Segel, Nicolas P. Retsinas and Jonathan Lo
Cheick Sanankoua is an MBA student who believes that he has found the perfect investment property, a small, independently owned hotel, on the Ivory Coast. However, he has had trouble raising money for the investment beyond friends and family. Through contacts in the...
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Keywords:
Real Estate;
Emergent Countries;
Investing;
Entrepreneurial Finance;
Debts;
Cash Flow;
Quantitative Analysis;
Financing;
Development Stage Enterprises;
Small & Medium-sized Enterprises;
Africa;
Ivory Coast;
Venture Capital;
Emerging Markets;
Property;
Investment;
Accommodations Industry;
Real Estate Industry;
Africa
Segel, Arthur I., Nicolas P. Retsinas, and Jonathan Lo. "Hotel Ivory." Harvard Business School Case 213-050, December 2012. (Revised May 2014.)
- Fourth Quarter 2017
- Article
Optimal Tilts: Combining Persistent Characteristic Portfolios
By: Malcolm Baker, Ryan Taliaferro and Terry Burnham
We examine the optimal weighting of four tilts in U.S. equity markets from 1968 through 2014. We define a “tilt” as a characteristic-based portfolio strategy that requires relatively low annual turnover. This is a continuum, with small size (a very persistent...
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Baker, Malcolm, Ryan Taliaferro, and Terry Burnham. "Optimal Tilts: Combining Persistent Characteristic Portfolios." Financial Analysts Journal 73, no. 4 (Fourth Quarter 2017): 75–89.
- December 2019
- Teaching Note
Hony Capital and Jushi Group
By: Josh Lerner, Shai Bernstein and Ann Leamon
Teaching Note for HBS No. 820-040.
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- June 2018
- Teaching Note
Berkshire Partners: Party City
By: Victoria Ivashina and Jeffrey Boyar
Teaching Note for HBS No. 218-028.
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- 01 Mar 2024
- News
In Harmony
Kim at Seoul’s government-built Hoehyeon “Citizens’ Apartments.” Opened in 1970, it stands as a reminder of a Korea from a very different era. Like so many South Koreans of a certain age, Michael ByungJu Kim (MBA 1990) lives in a country where the past lingers,...
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