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- Faculty Publications (173)
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- All HBS Web (406)
- Faculty Publications (173)
- March 2011 (Revised November 2011)
- Case
Harmonic Hearing Co.
By: Howard H. Stevenson and Craig H. Stephenson
Harmonic is a small, privately held manufacturer of hearing aids. Harriet Burns and Marc Davis, two employees at Harmonic, have an opportunity to purchase the company from the founder. As well-informed insiders who understand the industry, Burns and Davis believe the...
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Keywords:
Debts;
Quantitative Analysis;
Financing;
Entrepreneurial Finance;
Development Stage Enterprises;
Small & Medium-sized Enterprises;
Small Business;
Business Growth and Maturation;
Cash Flow;
Mathematical Methods;
Entrepreneurship;
Financing and Loans;
Borrowing and Debt;
Equity;
Manufacturing Industry
Stevenson, Howard H., and Craig H. Stephenson. "Harmonic Hearing Co." Harvard Business School Brief Case 114-271, March 2011. (Revised November 2011.)
- January 2001 (Revised July 2003)
- Case
Pharmacyclics: Financing Research & Development
By: Malcolm P. Baker, Richard S. Ruback and Aldo Sesia
Pharmacyclics (NASDAQ: PCYC), a pharmaceutical company that manufactures products that will improve existing therapeutic treatments for cancer, arteriosclerosis, and retinal disease, was considering a $60 million private placement in February 2000. The company had more...
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Keywords:
Valuation;
Cash Flow;
Financing and Loans;
Business Startups;
Financial Strategy;
Medical Devices and Supplies Industry;
Pharmaceutical Industry;
Health Industry
Baker, Malcolm P., Richard S. Ruback, and Aldo Sesia. "Pharmacyclics: Financing Research & Development." Harvard Business School Case 201-056, January 2001. (Revised July 2003.)
- May 2017
- Case
Pho Hoa Dorchester
By: Leonard A. Schlesinger, Michael Raiche and Roger Zhu
Pho Hoa is a traditional, family-owned Vietnamese restaurant in Dorchester, Massachusetts that opened in 1992. As he approached retirement in recent years, the founder/owner has scaled down his involvement in the day-to-day operations, leading to a number of...
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Keywords:
Pho Hoa;
Tam Le;
Small Business;
Restaurants;
Dorchester;
Business Growth and Maturation;
Business Organization;
Family Business;
Change Management;
Transition;
Diasporas;
Cash Flow;
Food;
Employment;
Wages;
Working Conditions;
Leading Change;
Business Processes;
Organizational Culture;
Organizational Change and Adaptation;
Organizational Structure;
Ownership Stake;
Franchise Ownership;
Family and Family Relationships;
Food and Beverage Industry;
Viet Nam;
Massachusetts;
Boston;
Eastern United States
Schlesinger, Leonard A., Michael Raiche, and Roger Zhu. "Pho Hoa Dorchester." Harvard Business School Case 317-121, May 2017.
- 2021
- Working Paper
No-fault Default, Chapter 11 Bankruptcy, and Financial Institutions
By: Robert C. Merton and Richard T. Thakor
This paper analyzes the costs and benefits of a no-fault-default debt structure as an alternative to the typical bankruptcy process. We show that the deadweight costs of bankruptcy can be avoided or substantially reduced through no-fault-default debt, which permits a...
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Keywords:
No-fault Default;
Chapter 11;
Insolvency and Bankruptcy;
Borrowing and Debt;
Governing Rules, Regulations, and Reforms;
Financial Institutions;
Contracts
Merton, Robert C., and Richard T. Thakor. "No-fault Default, Chapter 11 Bankruptcy, and Financial Institutions." NBER Working Paper Series, No. 28341, January 2021.
- Working Paper
Covenant-Light Contracts and Creditor Coordination
By: Bo Becker and Victoria Ivashina
In 2015, 70% of newly issued leveraged loans had weaker enforcement features, called covenant-light or "cov-lite"; this is nearly a three-time increase in cov-lite issuance compared to a previous peak in 2007. We evaluate whether this development can be attributed to...
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Keywords:
Credit Cycles;
Loan Contracts;
Debt Covenants;
Contracts;
Financing and Loans;
Credit;
Borrowing and Debt
Becker, Bo, and Victoria Ivashina. "Covenant-Light Contracts and Creditor Coordination." Swedish House of Finance Research Paper, No. 16-09, March 2016.
- 23 Jun 2010
- Working Paper Summaries
The Role of Institutional Development in the Prevalence and Value of Family Firms
- February 2022 (Revised November 2022)
- Case
Fondeadora
By: Álvaro Rodríguez Arregui and Mitchell Weiss
Norman Müller and René Serrano, cofounders of Fondeadora, a Mexican “neobank,” had lined up a $12.5 million in Series A funding round in 2020 only to run into a major obstacle: The lead investor was Gradient Ventures, a venture firm launched by Alphabet, Inc., and...
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Keywords:
Fundraising;
Entrepreneurship;
Venture Capital;
Financial Institutions;
Business Startups;
Government Legislation;
Governing Rules, Regulations, and Reforms;
Financial Strategy;
Financial Services Industry;
Mexico City;
Latin America
Rodríguez Arregui, Álvaro, and Mitchell Weiss. "Fondeadora." Harvard Business School Case 822-077, February 2022. (Revised November 2022.)
- July 1990 (Revised August 1990)
- Case
Kaiser Steel Corporation, 1950
By: Timothy A. Luehrman and William Schiano
Examines Kaiser Steel's initial equity offering in 1950. The first case in a sequence that will trace the history of corporate restructurings that occurred 30 to 40 years later, in the 1980s. Subsequent cases examine foreign competition and labor unrest, hostile...
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Keywords:
Business History;
Competition;
Initial Public Offering;
Capital Structure;
Restructuring;
Capital Markets;
Ownership;
Steel Industry;
United States
Luehrman, Timothy A., and William Schiano. "Kaiser Steel Corporation, 1950." Harvard Business School Case 291-005, July 1990. (Revised August 1990.)
- June 2005 (Revised June 2007)
- Background Note
Introduction to Management of the Family Business
By: John A. Davis
Provides an overview to the content and structure of the Management of the Family Business course.
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Davis, John A. "Introduction to Management of the Family Business." Harvard Business School Background Note 805-155, June 2005. (Revised June 2007.)
- November 1988 (Revised September 1991)
- Case
Simmons Japan Ltd.
By: W. Carl Kester and Richard P. Melnick
Concerns the first leveraged buyout to occur in Japan. Analytic tasks include a valuation of the company and an assessment of its debt capacity. Also provides opportunities to discuss agency costs associated with alternative capital and equity ownership structures,...
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Keywords:
Leveraged Buyouts;
Restructuring;
Borrowing and Debt;
Capital Structure;
Cost;
Equity;
Production;
Valuation;
Japan;
United States
Kester, W. Carl, and Richard P. Melnick. "Simmons Japan Ltd." Harvard Business School Case 289-001, November 1988. (Revised September 1991.)
- March 2009
- Supplement
Groupe Eurotunnel S.A. (B): Restructuring Under the Procedure de Sauvegarde
By: Stuart C. Gilson, Vincent Marie Dessain and Sarah Abbott
In mid-2007 the chairman and CEO of Eurotunnel Group, having elected to file for bankruptcy under a newly-enacted French insolvency law, awaits the outcome of a vote by creditors and shareholders. At least 50% of the shareholders must approve the plan, however they...
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Keywords:
Restructuring;
Capital Structure;
Insolvency and Bankruptcy;
Law;
Valuation;
Assets;
Investment Funds;
Voting;
Business and Shareholder Relations;
Ownership;
Outcome or Result;
France
Gilson, Stuart C., Vincent Marie Dessain, and Sarah Abbott. "Groupe Eurotunnel S.A. (B): Restructuring Under the Procedure de Sauvegarde." Harvard Business School Supplement 209-113, March 2009.
- 2013
- Chapter
Effective Teamwork and Collaboration
By: Heidi K. Gardner
Book Abstract: The ability to attract, develop, and retain talent has become one of the biggest competitive issues for law firms. But although talent management is now recognized as a business issue of prime importance, law firms often lack the experience, vision, and...
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- 06 Oct 2003
- Research & Ideas
The Growth of the Social Enterprise
and army-influenced culture. Q: For social enterprises that choose the affiliate route, what are the likely factors that point them in that direction? A: Nonprofits may adopt an affiliate model because they have a bias towards local View Details
Keywords:
by Carla Tishler
- 02 Jan 2013
- What Do You Think?
Should We Rethink the Promise of Teams?
Summing Up Under what conditions do teams, introverts, and innovation go together? Properly structured and led, teams can support innovative thinking that depends on contributions from both extroverts and introverts. That's the consensus...
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Keywords:
by James Heskett
- 27 Feb 2013
- Working Paper Summaries
In Strange Company: The Puzzle of Private Investment in State-Controlled Firms
- March 2016 (Revised May 2021)
- Case
Michael Milken: The Junk Bond King
By: Tom Nicholas and Matthew G. Preble
Michael Milken, an investment banker who dominated the junk bond market in the 1980s, was sentenced to jail in 1990 after pleading guilty to a number of securities and tax-related felonies. In the preceding decade, Milken had helped usher in a new wave of leveraged buy...
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Keywords:
Junk Bonds;
High-yield Bonds;
Financial Innovation;
Shareholder Value;
Bonds;
Capital;
Capital Structure;
Cost of Capital;
Crime and Corruption;
Entrepreneurship;
Ethics;
Finance;
Investment Banking;
Leveraged Buyouts;
Mergers and Acquisitions;
Ownership;
Private Equity;
Restructuring;
United States
Nicholas, Tom, and Matthew G. Preble. "Michael Milken: The Junk Bond King." Harvard Business School Case 816-050, March 2016. (Revised May 2021.)
- Research Summary
The Appropriability of Reputation in Franchises Selling Brands
We develop a multi-market model in which there are two kinds of firms: brands and small firms (or agents). Firms interact with short lived clients in the market for goods (or services) and with each other in the market for franchises. The model is one of adverse...
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- 14 Jun 2016
- First Look
June 14, 2016
over 11,000 firms in 34 countries. We find large cross-country differences in the adoption of basic management practices, with the U.S. having the highest size-weighted average management score. We present a formal model of “Management as a Technology," and View Details
Keywords:
Sean Silverthorne
- 14 Sep 2011
- Working Paper Summaries
Ethnic Innovation and US Multinational Firm Activity
Keywords:
by C. Fritz Foley & William R. Kerr
- 24 Apr 2008
- Working Paper Summaries