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All HBS Web
(1,369)
- Faculty Publications (211)
- December 2010
- Compilation
VCPE Strategy Vignettes II
By: Josh Lerner, G. Felda Hardymon, Matthew Rhodes-Kropf, Ann Leamon and Lisa Strope
These three vignettes present various issues around the strategy and management of venture capital and private equity firms. In one, a senior partner must decide how to manage an over-extended colleague and how to reduce the risk of the firm's portfolio; the second...
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Keywords:
Venture Capital;
Private Equity;
Cost vs Benefits;
Insolvency and Bankruptcy;
Investment Portfolio;
Ownership;
Partners and Partnerships;
Risk Management;
Stocks;
Problems and Challenges;
United States
Lerner, Josh, G. Felda Hardymon, Matthew Rhodes-Kropf, Ann Leamon, and Lisa Strope. "VCPE Strategy Vignettes II." Harvard Business School Compilation 811-054, December 2010.
- October 2010 (Revised January 2012)
- Case
Hony, CIFA, and Zoomlion: Creating Value and Strategic Choices in a Dynamic Market
By: Josh Lerner and Yiwen Jin
The private equity group Hony Capital considers what to do with their investment in Zoomlion, which has been successful to date. The question is whether to take their money off the table or to invest in their acquisition of a large Italian competitor.
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Keywords:
Private Equity;
Financial Strategy;
Investment;
Emerging Markets;
Financial Services Industry;
China
Lerner, Josh, and Yiwen Jin. "Hony, CIFA, and Zoomlion: Creating Value and Strategic Choices in a Dynamic Market." Harvard Business School Case 811-032, October 2010. (Revised January 2012.)
- October 2010 (Revised January 2011)
- Case
Charter Communications Bankruptcy
By: Paul A. Gompers and Emily Weisburst
Charter Communications' bankruptcy presents an opportunity for some of its creditors to convert their debt holdings into equity. A mutual fund manager must determine how to maximize his debt investment in Charter given the restructuring and decide whether to...
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- October 2010 (Revised November 2012)
- Case
Shenzhen Capital Group
By: Paul A. Gompers, Shaohui Chen, Jessie Lin and Shelley Ling
Haitao Jin, chairman of Shenzhen Capital Group Co., Ltd. (SCGC), and Wanshou Li, president of SCGC, must decide how to continue to grow their venture capital/private equity firm in China. SCGC is a premier VC/PE fund in China and a pioneer of the Government Sponsored...
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Keywords:
Government And Business;
Venture Capital;
Private Equity;
Investment Funds;
Growth and Development Strategy;
Business and Government Relations;
Financial Services Industry;
China
Gompers, Paul A., Shaohui Chen, Jessie Lin, and Shelley Ling. "Shenzhen Capital Group." Harvard Business School Case 211-029, October 2010. (Revised November 2012.)
- October 2010 (Revised November 2010)
- Case
YES BANK: Mainstreaming Development into Indian Banking
By: Michael Chu and Namrata Arora
YES BANK, founded in 2003 and highly successful, has consistently been profitable meeting the Indian government's Priority Sector Lending (PSL) requirements, unlike virtually all other private sector banks, which view PSL activity as a necessary but loss-making part of...
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Keywords:
Development Economics;
Private Equity;
Microfinance;
Investment;
Governing and Advisory Boards;
Corporate Social Responsibility and Impact;
Environmental Sustainability;
Expansion;
Banking Industry;
India
Chu, Michael, and Namrata Arora. "YES BANK: Mainstreaming Development into Indian Banking." Harvard Business School Case 311-063, October 2010. (Revised November 2010.)
- 2010
- Other Unpublished Work
International Capital Allocation, Sovereign Borrowing, and Growth
By: Laura Alfaro, Sebnem Kalemli-Ozcan and Vadym Volosovych
The key in the investigation of "where" and "why" capital flows, relative to the neoclassical benchmark, is how we measure these flows. The macro literature has been using three main yardsticks: the current account balance, returns to capital, and the volume of net...
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- April 2010
- Article
Performance Persistence in Entrepreneurship and Venture Capital
This paper presents evidence of performance persistence in entrepreneurship. We show that entrepreneurs with a track record of success are much more likely to succeed than first-time entrepreneurs and those who have previously failed. In particular, they exhibit...
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Keywords:
Performance;
Entrepreneurship;
Venture Capital;
Private Equity;
Market Timing;
Competency and Skills;
Success;
Business Startups
Gompers, Paul A., Josh Lerner, David Scharfstein, and Anna Kovner. "Performance Persistence in Entrepreneurship and Venture Capital." Journal of Financial Economics 96, no. 1 (April 2010): 18–32.
- January 2010 (Revised March 2010)
- Compilation
Firm Strategy Vignettes
By: Josh Lerner, G. Felda Hardymon and Ann Leamon
These three vignettes present various issues around the strategy and management of a private equity firm. In one, a senior partner must decide how to manage an over-extended colleague and how to reduce the risk of the firm's portfolio; in the second, a limited partner...
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Keywords:
Outcome or Result;
Business Strategy;
Problems and Challenges;
Private Equity;
Venture Capital;
Investment Portfolio;
Partners and Partnerships
Lerner, Josh, G. Felda Hardymon, and Ann Leamon. "Firm Strategy Vignettes." Harvard Business School Compilation 810-087, January 2010. (Revised March 2010.)
- 2010
- Casebook
Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture
By: Laura Alfaro
All managers face a business environment in which international and macroeconomic phenomena matter. International capital flows can significantly affect countries' development efforts and provide clear investment opportunities for businesses. During the 1990s and early...
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Keywords:
Financial Crisis;
Capital;
International Finance;
Globalized Economies and Regions;
Policy;
Government and Politics;
Business and Government Relations
Alfaro, Laura. Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture. Singapore: World Scientific Publishing, 2010.
- December 2009 (Revised April 2022)
- Case
Lyondell Chemical Company
By: Stuart C. Gilson and Sarah Abbott
Hit with an industry recession and the global financial crisis of 2008, in January 2009 LyondellBasell Industries AF S.C.A., one of the world's largest internationally diversified chemical companies headquartered in The Netherlands, placed its U.S. operations and a...
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Keywords:
Restructuring;
Financial Crisis;
Borrowing and Debt;
Capital Structure;
Insolvency and Bankruptcy;
Financing and Loans;
International Finance;
Crisis Management;
Chemical Industry;
Netherlands;
United States
Gilson, Stuart C., and Sarah Abbott. "Lyondell Chemical Company." Harvard Business School Case 210-001, December 2009. (Revised April 2022.)
- 2009
- Working Paper
Labor Regulations and European Private Equity
By: Ant Bozkaya and William R. Kerr
European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor...
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- 2009
- Working Paper
Labor Regulations and European Private Equity
By: Ant Bozkaya and William R. Kerr
European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor...
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Keywords:
Venture Capital;
Private Equity;
Insurance;
Investment;
Governing Rules, Regulations, and Reforms;
Taxation;
Employment;
Europe
Bozkaya, Ant, and William R. Kerr. "Labor Regulations and European Private Equity." Harvard Business School Working Paper, No. 08-043, December 2009.
- February 2009 (Revised March 2013)
- Case
Messer Griesheim (A)
By: Josh Lerner, Ann-Kristin Achleitner, Eva Lutz and Kerry Herman
In 2001, Allianz Capital Partners and Goldman Sachs acquired a majority stake in Messer Griesheim, a European industrial gas concern held by Hoechst. The dealmakers faced several challenges, including delicate corporate governance issues due to partial family ownership...
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Keywords:
Mergers and Acquisitions;
Restructuring;
Venture Capital;
Private Equity;
Corporate Governance;
Family Ownership;
Chemical Industry;
Industrial Products Industry;
Europe
Lerner, Josh, Ann-Kristin Achleitner, Eva Lutz, and Kerry Herman. "Messer Griesheim (A)." Harvard Business School Case 809-056, February 2009. (Revised March 2013.)
- February 2009 (Revised March 2013)
- Supplement
Messer Griesheim (B)
By: Josh Lerner, Ann-Kristin Achleitner, Eva Lutz and Kerry Herman
In 2001, Allianz Capital Partners and Godlman Sachs acquired a majority stake in Messer Greisheim, a European industrial gas concern held by Hoeschst. The dealmakers faced several challenges, including delicate corporate governance issues due to partial family...
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Keywords:
Mergers and Acquisitions;
Private Equity;
Stock Options;
Stock Shares;
Corporate Governance;
Governance Controls;
Family Ownership;
Problems and Challenges;
Energy Industry;
Europe
Lerner, Josh, Ann-Kristin Achleitner, Eva Lutz, and Kerry Herman. "Messer Griesheim (B)." Harvard Business School Supplement 809-057, February 2009. (Revised March 2013.)
- 2009
- Other Unpublished Work
Bridge Building in Venture Capital-Backed Acquisitions
By: Paul A. Gompers and Yuhai Xuan
We study the role of common venture capital investors in alleviating asymmetric information between public acquirers and private venture capital-backed targets. We find that acquisition announcement returns are more positive for acquisitions in which both the target...
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Keywords:
Mergers and Acquisitions;
Venture Capital;
Private Equity;
Knowledge Sharing;
Market Transactions
Gompers, Paul A., and Yuhai Xuan. "Bridge Building in Venture Capital-Backed Acquisitions." 2009.
- January 2009
- Case
Berkshire Hathaway
By: Bharat N. Anand and Samhita Patwardhan Jayanti
Berkshire Hathaway describes the history and strategy of one of the best known investment firms over the last forty years. The case describes the investment philosophy of Warren Buffett, its legendary chairman and CEO, the gradual diversification of its portfolio, its...
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Keywords:
History;
Private Equity;
Diversification;
Resource Allocation;
Investment Portfolio;
Corporate Strategy;
Investment;
Corporate Governance
Anand, Bharat N., and Samhita Patwardhan Jayanti. "Berkshire Hathaway." Harvard Business School Case 709-449, January 2009.
- December 2008 (Revised October 2010)
- Case
Paul Capital Partners: Secondary Limited Partnership Investing
This case examines the proposed purchase by Paul Capital Partners of a limited partnership (LP) interest in a private equity fund. Paul Capital has a fund dedicated to buying these "secondary" LP interests. The case is intended as a vehicle for discussing the secondary...
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Keywords:
Capital;
Investment;
Private Equity;
Valuation;
Partners and Partnerships;
Interests;
Markets;
Debates;
Financial Services Industry
Scharfstein, David S. "Paul Capital Partners: Secondary Limited Partnership Investing." Harvard Business School Case 209-089, December 2008. (Revised October 2010.)
- November 2008 (Revised January 2009)
- Case
The Restructuring of Daiei
In 2004, the Industrial Revitalization Corporation of Japan (IRCJ) was given the task of restructuring Daiei, one of the largest Japanese retailers and the country's most prominent zombie companies. The IRCJ was a government-sponsored organization that was funded with...
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Keywords:
Restructuring;
Capital Structure;
Private Equity;
Performance Effectiveness;
Retail Industry;
Japan
Ruback, Richard S. "The Restructuring of Daiei." Harvard Business School Case 209-060, November 2008. (Revised January 2009.)
- September 2008 (Revised September 2010)
- Case
Ithmar Capital
By: Josh Lerner and Ann Leamon
The founders of Ithmar Capital, a mid-market private equity fund targeting businesses in and addressing the Gulf Co-operation Council countries, are about to raise their third fund, targeting $1 billion. The firm's current strategy as demonstrated in Funds I ($70...
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Keywords:
Private Equity;
Financial Management;
Investment Funds;
Investment Portfolio;
Financial Services Industry
Lerner, Josh, and Ann Leamon. "Ithmar Capital." Harvard Business School Case 809-032, September 2008. (Revised September 2010.)
- May 2008
- Teaching Note
Lion Capital and the Blackstone Group: The Orangina Deal (TN)
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
Teaching Note for [807005].
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