Filter Results
:
(407)
Show Results For
-
All HBS Web
(1,894)
- Faculty Publications (407)
Show Results For
-
All HBS Web
(1,894)
- Faculty Publications (407)
Page 1 of
407
Results
→
- 2024
- Working Paper
Does the Case for Private Equity Still Hold?
By: Nori Gerardo Lietz and Philipp Chvanov
Private Equity (“PE”) received a 10-fold increase in capital flows since the Great Financial Crisis (“GFC”) Investors sought higher nominal returns relative to those they could obtain in the public capital markets. This paper questions the fundamental assumptions...
View Details
Lietz, Nori Gerardo, and Philipp Chvanov. "Does the Case for Private Equity Still Hold?" Harvard Business School Working Paper, No. 24-066, January 2024.
- April 2024
- Article
Fee Variation in Private Equity
By: Juliane Begenau and Emil N. Siriwardane
We study how investment fees vary within private-capital funds. Net-of-fee return clustering suggests that most funds have two tiers of fees, and we decompose differences across tiers into both management and performance-based fees. Managers of venture capital funds...
View Details
Keywords:
Pension Funds;
Fee Dispersion;
Search And Negotiation Frictions;
Private Equity;
Investment Funds
Begenau, Juliane, and Emil N. Siriwardane. "Fee Variation in Private Equity." Journal of Finance 79, no. 2 (April 2024): 1199–1247.
- March 2024 (Revised April 2024)
- Case
Angel City Football Club: Scoring a New Model
By: Jeffrey F. Rayport, Jennifer Fonstad and Nicole Tempest Keller
In January 2024, Kara Nortman, Julie Uhrman, and Natalie Portman, the founders of Angel City Football Club (ACFC) were developing the club’s first three-year strategic plan. Founded in 2020, ACFC had a star-studded investor group, including Portman and celebrities such...
View Details
Keywords:
Sports;
Entertainment;
Entrepreneurship;
Brands and Branding;
Innovation and Invention;
Venture Capital;
Sports Industry;
Entertainment and Recreation Industry;
United States;
California;
Los Angeles
Rayport, Jeffrey F., Jennifer Fonstad, and Nicole Tempest Keller. "Angel City Football Club: Scoring a New Model." Harvard Business School Case 824-192, March 2024. (Revised April 2024.)
- March 2024 (Revised March 2024)
- Case
AMC: The Zero Revenue Case
By: C. Fritz Foley and Donal O'Cofaigh
The onset of the Covid-19 pandemic put theatre company AMC’s already perilous financial situation under even further strain. The company’s high levels of debt resulted in a monthly cash-burn which left it facing an imminent Chapter-11 filing in the absence of...
View Details
- March 2024
- Case
Funderbeam: Teaming Up or Going Alone?
By: Paul A. Gompers, Elena Corsi and Orna Dan
Funderbeam, a global platform founded in Estonia to enable start-ups to run private syndications and secondaries while offering liquidity for private equity investors, was at a crossroads. Over its ten-year run, the company had expanded its services and areas of...
View Details
Keywords:
Decision Making;
Business Exit or Shutdown;
Transition;
Leading Change;
Business or Company Management;
Organizational Change and Adaptation;
Law;
Mergers and Acquisitions;
Financing and Loans;
Cross-Cultural and Cross-Border Issues;
Ownership Stake;
Expansion;
Business Startups;
Venture Capital;
Financial Services Industry;
Estonia;
Republic of Ireland;
United Kingdom;
Singapore
- March 2024
- Supplement
ELCA's Series A Cap Table Exercise (Instructor Version)
By: Raymond Kluender and Anke Becker
In ELCA, the company must decide between two term sheets: one put forth by STV and one put forth by ESV.
This exercise is an analysis of the implications of these two term sheets on the ownership structure and the payouts of common and preferred... View Details
This exercise is an analysis of the implications of these two term sheets on the ownership structure and the payouts of common and preferred... View Details
- March 2024
- Supplement
ELCA's Series A Cap Table Exercise (Student Version)
By: Raymond Kluender, Anke Becker and Johnson Elugbadebo
In ELCA, the company must decide between two term sheets: one put forth by STV and one put forth by ESV.
This exercise is an analysis of the implications of these two term sheets on the ownership structure and the payouts of common and preferred... View Details
This exercise is an analysis of the implications of these two term sheets on the ownership structure and the payouts of common and preferred... View Details
- February 2024 (Revised May 2024)
- Case
Can Families Conquer Private Equity? Pritzker Private Capital
By: Lauren Cohen and Sophia Pan
Anthony (Tony) Pritkzer, Paul Carbone, and the Pritzker Private Capital (PPC) team wondered how to approach the firm’s next phase of growth. PPC was a private equity firm that offered a differentiated approach to the family capital market. Back in 2016, the partners...
View Details
Keywords:
Family Office;
External Financing;
Succession;
Leadership Transition;
Family Business;
Private Equity;
Investment;
Business Growth and Maturation;
Financial Strategy;
Investment Portfolio;
Business Model;
Private Sector;
Financial Liquidity;
Risk Management;
Organizational Structure;
Competitive Advantage;
Venture Capital;
Financial Services Industry;
Chicago;
Illinois;
United States
- February 2024
- Case
Shore Capital Partners: The Next Ten Years
By: Boris Groysberg and Kerry Herman
Private equity firm Shore Capital Partners is at an inflection point, after 12 years of phenomenal growth and success. Now, as the partners consider options, should Shore remain micro-cap focused, or move into more mid-cap investments? Should Shore hold investments...
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
Colonnelli, Emanuele, Bo Li, and Ernest Liu. "Investing with the Government: A Field Experiment in China." Journal of Political Economy 132, no. 1 (January 2024): 248–294.
- 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
Pearson, Margaret M., Meg Rithmire, and Kellee S. Tsai. "The Private Economy Under Party-State Capitalism." Chap. 3 in Chinese Politics: The Xi Jinping Difference. 2nd edition edited by Stanley Rosen and Daniel C. Lynch, 67–82. Routledge, 2024.
- November 2023 (Revised April 2024)
- Case
BiomX: Bringing Phage Back to the Stage
By: Paul A. Gompers, Elie Ofek, Orna Dan and Emilie Billaud
In the spring of 2023, and following the favorable results of a trial involving its phage cocktail for treating lung infections among cystic fibrosis (CF) patients, the leadership of BiomX had several critical issues to wrestle with. First, given its precarious...
View Details
Keywords:
Working Capital;
Financing and Loans;
Health Testing and Trials;
Product Development;
Research and Development;
Science-Based Business;
Commercialization;
Biotechnology Industry;
Pharmaceutical Industry
Gompers, Paul A., Elie Ofek, Orna Dan, and Emilie Billaud. "BiomX: Bringing Phage Back to the Stage." Harvard Business School Case 524-051, November 2023. (Revised April 2024.)
- 2023
- Working Paper
What Do Impact Investors Do Differently?
In recent years, impact investors – private investors who seek to generate simultaneously financial and social returns – have attracted intense interest and controversy. We analyze a novel, comprehensive data set of impact and traditional investors to assess how the...
View Details
Keywords:
ESG;
Socially Responsible Investing;
Investment Decisions;
Public Goods;
Impact Investment;
Investment;
Private Equity;
Venture Capital
Cole, Shawn, Leslie Jeng, Josh Lerner, Natalia Rigol, and Benjamin N. Roth. "What Do Impact Investors Do Differently?" Harvard Business School Working Paper, No. 24-028, November 2023. (Reject and Resubmit, Journal of Financial Economics.)
- 2023
- Working Paper
LALIGA—From a Soccer Competition Organizer to a Global Player in the Sports and Entertainment Industry
By: Stephen A. Greyser, Kenneth Cortsen and Juan Fuentes Fernández
LALIGA, the first- and second-tier professional soccer league (known as “football” outside of the U.S. and Canada) in Spain, enters its 100th soccer season later this decade. The most popular game in the world (Giulianotti, 2012) has gone through many changes since...
View Details
Keywords:
Soccer;
"Sports Organizations,;
Business History;
Strategy;
Brands and Branding;
Technology Adoption;
Sports Industry
Greyser, Stephen A., Kenneth Cortsen, and Juan Fuentes Fernández. "LALIGA—From a Soccer Competition Organizer to a Global Player in the Sports and Entertainment Industry." Harvard Business School Working Paper, No. 24-009, August 2023.
- May 2023
- Article
Political Ideology and International Capital Allocation
By: Elisabeth Kempf, Mancy Luo, Larissa Schäfer and Margarita Tsoutsoura
Does investors' political ideology shape international capital allocation? We provide evidence from two settings—syndicated corporate loans and equity mutual funds—to show ideological alignment with foreign governments affects the cross-border capital allocation by...
View Details
Keywords:
Capital Flows;
Syndicated Loans;
Mutual Funds;
Partisanship;
Polarization;
Elections;
Political Ideology;
Banks and Banking;
Institutional Investing;
Behavioral Finance;
Decision Choices and Conditions
Kempf, Elisabeth, Mancy Luo, Larissa Schäfer, and Margarita Tsoutsoura. "Political Ideology and International Capital Allocation." Journal of Financial Economics 148, no. 2 (May 2023): 150–173.
- April 2023 (Revised January 2024)
- Background Note
Note on Healthcare in Ghana
By: Regina E. Herzlinger and Ben Creo
This note provides an overview of the healthcare system in Ghana. It discusses the public and private sector as well as traditional medical practice. It also discusses the country’s pharmaceutical industry. It is recommended as a companion to Professor Regina...
View Details
Keywords:
Africa;
Pharmaceutical Companies;
Pharmacy Benefit Manager;
Health Care;
Health Care Costs;
Health Care Delivery;
Health Care Entrepreneurship;
Telehealth;
Health Equity;
Governing Rules, Regulations, and Reforms;
Health Care and Treatment;
Business and Government Relations;
Health Industry;
Pharmaceutical Industry;
Ghana
Herzlinger, Regina E., and Ben Creo. "Note on Healthcare in Ghana." Harvard Business School Background Note 323-112, April 2023. (Revised January 2024.)
- March 2023 (Revised September 2023)
- Case
Wilshire Lane Capital
By: Jeffrey J. Bussgang, Lindsay N. Hyde and Stacy Straaberg
In September 2021, Adam Demuyakor (MBA 2017) was faced with decisions about how to launch his venture capital (VC) investment firm. His previous investment activities were a series of angel investments and special purpose vehicles alongside two part-time general...
View Details
Keywords:
Ownership Stake;
Investment Funds;
Venture Capital;
Business and Shareholder Relations;
Real Estate Industry;
Technology Industry;
Los Angeles;
California;
United States
Bussgang, Jeffrey J., Lindsay N. Hyde, and Stacy Straaberg. "Wilshire Lane Capital." Harvard Business School Case 823-062, March 2023. (Revised September 2023.)
- 2023
- Working Paper
Rule by Market: The Chinese State in Factor Markets
By: Meg Rithmire
Political economy on China and beyond generally has been premised on a trade-off between state and market power. In the context of China’s reforms, markets and market mechanisms were hypothesized to replace state power in allocating important economic resources. Yet,...
View Details
Rithmire, Meg. "Rule by Market: The Chinese State in Factor Markets." Harvard Business School Working Paper, No. 23-040, March 2023.
- February 2023 (Revised May 2023)
- Case
CalPERS Private Equity 2.0
By: Josh Lerner, John D. Dionne and Alys Ferragamo
Yup Kim, the Head of Investments, Private Equity at the California Public Employees’ Retirement System (CalPERS), reflected on the pension fund’s private equity strategy. In July of 2022, the fund was in the midst of a multi-year turnaround strategy with the goal to...
View Details
Lerner, Josh, John D. Dionne, and Alys Ferragamo. "CalPERS Private Equity 2.0." Harvard Business School Case 223-048, February 2023. (Revised May 2023.)
- January 2023
- Teaching Note
MicroStrategy’s Investment in Bitcoin
By: C. Fritz Foley, Celine Chammas and Donal O'Cofaigh
Teaching Note for HBS Case No. 222-048.
View Details