Filter Results
:
(669)
Show Results For
-
All HBS Web
(3,119)
- Faculty Publications (669)
Show Results For
-
All HBS Web
(3,119)
- Faculty Publications (669)
- January 2004 (Revised May 2004)
- Case
Montagu Private Equity (A)
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
Describes the dilemma facing Chris Masterson, the head of HSBC's private equity division, in negotiating this team's buyout of its organization from HSBC, its corporate parent since 1992. Discusses the pros and cons of being a captive fund and the delicate balance...
View Details
Hardymon, G. Felda, Josh Lerner, and Ann Leamon. "Montagu Private Equity (A)." Harvard Business School Case 804-051, January 2004. (Revised May 2004.)
- January 2004
- Case
Bob Holgrom and the Buyout of the Carlson Division
By: Thomas R. Piper
The head of the Carlson Division stands to benefit substantially in financial terms if a private equity firm wins the bid for the division. The division is in the early stages of a performance turnaround, with only three quarters of profit improvement and no audited...
View Details
Keywords:
Private Equity;
Leveraged Buyouts;
Corporate Disclosure;
Ethics;
Financial Reporting;
Laws and Statutes;
Performance Improvement
Piper, Thomas R. "Bob Holgrom and the Buyout of the Carlson Division." Harvard Business School Case 304-083, January 2004.
- 2004
- Class Lecture
Boom and Bust in Private Equity
By: Josh Lerner
Keywords:
Private Equity
Lerner, Josh. "Boom and Bust in Private Equity." Boston: Harvard Business School Publishing Class Lecture, 2004. Electronic. (Faculty Lecture: HBSP Product Number 9-756-1C.)
- 2004
- Working Paper
Judging Fund Managers by the Company They Keep
By: Randolph Cohen, Joshua Coval and Lubo Pástor
We develop a performance evaluation approach in which a fund manager's skill is judged by the extent to which his investment decisions resemble the decisions of managers with distinguished performance records. The proposed performance measures are estimated more...
View Details
Cohen, Randolph, Joshua Coval, and Lubo Pástor. "Judging Fund Managers by the Company They Keep." NBER Working Paper Series, No. W9359, January 2004.
- December 2003 (Revised May 2004)
- Case
Grove Street Advisors
By: G. Felda Hardymon, Josh Lerner, Ann Leamon and Frank Angella
Grove Street Advisors, a manager of customized private equity investment products, has been very successful in its first five years. To grow, the group must decide whether to target smaller organizations, revive its coinvestment efforts, or enter the highly competitive...
View Details
Keywords:
Business Organization;
Decision Choices and Conditions;
Private Equity;
Investment;
Market Entry and Exit;
Competitive Strategy
Hardymon, G. Felda, Josh Lerner, Ann Leamon, and Frank Angella. "Grove Street Advisors." Harvard Business School Case 804-050, December 2003. (Revised May 2004.)
- November 2003 (Revised February 2011)
- Case
Sanford C. Bernstein: The Fork in the Road (A)
By: Boris Groysberg and Anahita Hashemi
Soon after the death of the firm's legendary founder, the individuals then serving as chairman and as president--Lewis A. Sanders and Roger Hertog, respectively--talked about the future of their firm. Sanford C. Bernstein & Co., a private investment firm, had grown...
View Details
Keywords:
Mergers and Acquisitions;
Organizational Change and Adaptation;
Organizational Culture;
Performance Expectations;
Competitive Advantage;
Valuation
Groysberg, Boris, and Anahita Hashemi. "Sanford C. Bernstein: The Fork in the Road (A)." Harvard Business School Case 404-001, November 2003. (Revised February 2011.)
- September 2003 (Revised March 2004)
- Case
Yale University Investments Office: June 2003
By: Josh Lerner
The Yale Investments Office must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments--hedge funds, private equity, real estate, and so forth. Considers the risks and benefits of a different asset allocation strategy....
View Details
Keywords:
Leveraged Buyouts;
Assets;
Venture Capital;
Private Equity;
Investment Funds;
Resource Allocation;
Partners and Partnerships;
Risk and Uncertainty;
Strategy;
Education Industry
Lerner, Josh. "Yale University Investments Office: June 2003." Harvard Business School Case 204-055, September 2003. (Revised March 2004.)
- September 2003
- Case
Valuing a Cross-Border LBO: Bidding on the Yell Group
By: Mihir A. Desai, Paolo Notarnicola and Mark Veblen
A team of private equity investors must value the leveraged buyout of a Yellow Pages business that operated in both the United States and the United Kingdom. In the process, they must wrestle with issues of how to conduct cross-border valuations and how to value a...
View Details
Keywords:
Leveraged Buyouts;
Cash Flow;
Private Equity;
Cross-Cultural and Cross-Border Issues;
Valuation
Desai, Mihir A., Paolo Notarnicola, and Mark Veblen. "Valuing a Cross-Border LBO: Bidding on the Yell Group." Harvard Business School Case 204-033, September 2003.
- September 2003 (Revised March 2004)
- Case
Bharti Tele-Ventures
By: Tarun Khanna, Krishna G. Palepu and Ingrid Vargas
Following the liberalization of India's telecommunications service industry in the early 1990s, Bharti Tele-Ventures grew from a small entrepreneurial telephone equipment importer and manufacturer to become India's largest private-sector telecommunications service...
View Details
Keywords:
Private Sector;
Growth and Development;
Customers;
Foreign Direct Investment;
Mergers and Acquisitions;
Competition;
Public Ownership;
Profit;
Partners and Partnerships;
Rank and Position;
Telecommunications Industry;
India
Khanna, Tarun, Krishna G. Palepu, and Ingrid Vargas. "Bharti Tele-Ventures." Harvard Business School Case 704-426, September 2003. (Revised March 2004.)
- August 2003 (Revised March 2004)
- Case
Waltz on the Danube
By: Arthur I Segel, Vincent Dessain and Anais Loizillon
Describes the intricate parts of an early real estate deal from the standpoint of the developer including feasibility analysis, market choice, acquisition of land, project development, design and construction issues, investment returns, and equity financing issues....
View Details
Keywords:
Joint Ventures;
Management;
Property;
Project Finance;
Real Estate Industry;
Germany;
Hungary
Segel, Arthur I., Vincent Dessain, and Anais Loizillon. "Waltz on the Danube." Harvard Business School Case 804-021, August 2003. (Revised March 2004.)
- March 2003 (Revised January 2004)
- Case
CDC Capital Partners: December 2002
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
Paul Fletcher, CEO of CDC Capital Partners, a private equity group investing in the world's poorest countries, is wrestling with questions raised by the imminent reorganization of the firm. Previously an arm of the United Kingdom's international aid agency, CDC is...
View Details
Keywords:
Private Equity;
Investment Portfolio;
Privatization;
Venture Capital;
Business and Government Relations;
Emerging Markets;
Infrastructure;
Financial Services Industry;
Banking Industry;
United Kingdom
Hardymon, G. Felda, Josh Lerner, and Ann Leamon. "CDC Capital Partners: December 2002." Harvard Business School Case 803-167, March 2003. (Revised January 2004.)
- March 2003 (Revised November 2003)
- Case
3i Group plc
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
Brian Larcombe, CEO of 3i Group, one of the world's largest private equity firms and one of the few publicly listed ones, is deciding how best to use his firm's international network to deliver superior returns to shareholders. This case presents 3i's history and...
View Details
Keywords:
Business History;
Networks;
Private Equity;
Growth Management;
Global Strategy;
Public Ownership;
Business and Shareholder Relations;
Growth and Development Strategy;
Financial Services Industry
Hardymon, G. Felda, Josh Lerner, and Ann Leamon. "3i Group plc." Harvard Business School Case 803-020, March 2003. (Revised November 2003.)
- February 2003 (Revised March 2011)
- Background Note
Between a Rock and a Hard Place: Valuation and Distribution in Private Equity
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
Introduces the issues attendant to valuing privately held portfolios and distributing thinly traded stock. Although they have existed since the beginning of the formal venture capital industry, they have received increasing amounts of attention as the money invested in...
View Details
Keywords:
Venture Capital;
Private Equity;
Stocks;
Investment Portfolio;
Valuation;
Financial Services Industry
Hardymon, G. Felda, Josh Lerner, and Ann Leamon. "Between a Rock and a Hard Place: Valuation and Distribution in Private Equity." Harvard Business School Background Note 803-161, February 2003. (Revised March 2011.)
- 2003
- Article
Venture Capital and Private Equity: A Course Overview
By: Josh Lerner
This paper describes a course exploring the private equity industry, "Venture Capital and Private Equity". The goals of this article are two-fold: to make the structure and content of the class available to a broader audience beyond the audience of MBAs and executives...
View Details
Lerner, Josh. "Venture Capital and Private Equity: A Course Overview." International Journal of Entrepreneurship Education 1, no. 3 (2003): 359–384.
- December 2002
- Article
The Persistence of Emerging Market Equity Flows
By: K. A. Froot and J. Donohue
Keywords:
Asset Pricing;
Equity Investment;
Forecasting and Prediction;
Behavioral Finance;
Stocks;
Investment Return;
Market Transactions;
Performance Expectations;
Financial Services Industry
Froot, K. A., and J. Donohue. "The Persistence of Emerging Market Equity Flows." Emerging Markets Review 3, no. 4 (December 2002): 338–364. (Revised from NBER Working Paper no. 9241, HBS Working Paper no. 03-035, September 2002.)
- April 2002 (Revised October 2003)
- Case
Pension Plan of Bethlehem Steel, 2001, The
By: Peter Tufano
Bethlehem Steel's 2001 bankruptcy filing inspires an employee's daughter to evaluate her father's pension plan, weeks after September 11's tragedies exacerbated a weakening U.S. economy and just months before her father planned to retire. Battered equity markets and...
View Details
Tufano, Peter, Zvi Bodie, and Akiko M. Mitsui. "Pension Plan of Bethlehem Steel, 2001, The." Harvard Business School Case 202-088, April 2002. (Revised October 2003.)
- April 2002 (Revised February 2003)
- Background Note
An Economic Framework for Assessing Development Impact
By: Benjamin C. Esty, Frank J. Lysy and Carrie Ferman
Discusses the differences between private and social returns and describes an economic framework for assessing a project's social return [known as the economic rate of return (ERR)]. The framework begins by analyzing the impact of a new project on private financiers...
View Details
Keywords:
Cost vs Benefits;
Microeconomics;
Investment Return;
Framework;
Projects;
Business and Stakeholder Relations;
Valuation
Esty, Benjamin C., Frank J. Lysy, and Carrie Ferman. "An Economic Framework for Assessing Development Impact." Harvard Business School Background Note 202-052, April 2002. (Revised February 2003.)
- April 2002 (Revised May 2003)
- Case
Nghe An Tate & Lyle Sugar Company (Vietnam)
By: Benjamin C. Esty, Frank J. Lysy and Carrie Ferman
In September 1998, Paul Cooper, Tate & Lyle's finance director for international investments, asked the International Finance Corp. (IFC) to consider lending up to $45 million to finance a $90 million sugar mill in northern Vietnam. Ewen Cobban, an IFC agricultural...
View Details
Esty, Benjamin C., Frank J. Lysy, and Carrie Ferman. "Nghe An Tate & Lyle Sugar Company (Vietnam)." Harvard Business School Case 202-054, April 2002. (Revised May 2003.)
- April 2002
- Article
Limited Arbitrage in Mergers and Acquisitions
By: Malcolm Baker and Serkan Savasoglu
A diversified portfolio of risk arbitrage positions produces an abnormal return of 0.6-0.9% per month over the period from 1981 to 1996. We trace these profits to practical limits on risk arbitrage. In our model of risk arbitrage, arbitrageurs' risk-bearing capacity...
View Details
Keywords:
Arbitrage;
Market Efficiency;
Mergers and Acquisitions;
Profit;
Risk and Uncertainty;
Corporate Strategy;
Capital;
Banking Industry
Baker, Malcolm, and Serkan Savasoglu. "Limited Arbitrage in Mergers and Acquisitions." Journal of Financial Economics 64, no. 1 (April 2002): 91–116.
- 2002
- Other Unpublished Work
Market Liquidity as a Sentiment Indicator
By: Malcolm Baker and Jeremy Stein
We build a model that helps to explain why increases in liquidity—such as lower bid–ask spreads, a lower price impact of trade, or higher turnover—predict lower subsequent returns in both firm-level and aggregate data. The model features a class of irrational...
View Details
Keywords:
Price;
Financial Liquidity;
Trade;
Valuation;
Markets;
Forecasting and Prediction;
Equity;
Stock Shares;
Investment Return
Baker, Malcolm, and Jeremy Stein. "Market Liquidity as a Sentiment Indicator." NBER Working Paper Series, 2002. (First draft in 2001.)