Filter Results
:
(1,899)
Show Results For
- All HBS Web (1,899)
- Faculty Publications (348)
Show Results For
- All HBS Web (1,899)
- Faculty Publications (348)
- August 2020
- Background Note
US Private Equity Firms: ESG and Impact (A)
By: Lynn S. Paine and Holly Fetter
This Note has two parts. The first part (A) explores how U.S. private equity firms are incorporating ESG (Environmental, Social, & Governance) factors and impact objectives into their investment strategies and firm practices. It is based on publicly available...
View Details
Keywords:
Private Equity;
Corporate Social Responsibility and Impact;
Social Issues;
Financial Services Industry;
United States
Paine, Lynn S., and Holly Fetter. "U.S. Private Equity Firms: ESG and Impact (A)." Harvard Business School Background Note 321-036, August 2020.
- 11 May 2015
- Working Paper Summaries
What Do Private Equity Firms Say They Do?
- 2014
- Working Paper
Private Equity's Diversification Illusion: Economic Comovement and Fair Value Reporting
By: Kyle Travis Welch
This study examines how accounting has informed private equity diversification claims and demand for private equity investments. Despite research showing private equity lacks portfolio diversification benefits, those marketing private equity assets continue to...
View Details
Keywords:
Fair Value;
Access To Capital;
IAS 39;
FAS No. 157;
FASB;
IASB;
ASC 820;
Covariance Risk;
Accounting Beta;
Accounting;
Private Sector;
Valuation;
Corporate Finance;
Asset Management;
Cost of Capital;
Private Equity;
Accounting Industry;
Financial Services Industry;
Europe;
North and Central America
Welch, Kyle Travis. "Private Equity's Diversification Illusion: Economic Comovement and Fair Value Reporting." Working Paper, January 2014.
- Article
The Disintermediation of Financial Markets: Direct Investing in Private Equity
By: Lily Fang, Victoria Ivashina and Josh Lerner
We examine twenty years of direct private equity investments by seven large institutions. These direct investments perform better than public market indices, especially buyout investments and those made in the 1990s. Outperformance by the direct investments, however,...
View Details
Keywords:
Financial Intermediation;
Direct Investment;
Co-investment;
Private Equity;
Entrepreneurship;
Financial Markets
Fang, Lily, Victoria Ivashina, and Josh Lerner. "The Disintermediation of Financial Markets: Direct Investing in Private Equity." Journal of Financial Economics 116, no. 1 (April 2015): 160–178.
- Fast Answer
HBS Course: Private Equity Finance
What resources are recommended for this course? Suggested Resources Private Equity - Funds, Firms, Transactions, etc. Preqin
View Details
- Program
Foundations of Private Equity and Venture Capital
Summary Raising private capital can be a daunting process, especially for new entrants in the sector. Foundations of Private Equity and Venture Capital delves into the fundamental challenges and best...
View Details
- August 2020
- Background Note
US Private Equity Firms: ESG and Impact (B)
By: Lynn S. Paine and Holly Fetter
This is the second part of a two-part note. The first part (A) explores how US private equity firms are incorporating ESG (Environmental, Social, & Governance) factors and impact objectives into their investment strategies and firm practices. It is based on publicly...
View Details
Keywords:
Private Equity;
Corporate Social Responsibility and Impact;
Social Issues;
Financial Services Industry;
United States
Paine, Lynn S., and Holly Fetter. "U.S. Private Equity Firms: ESG and Impact (B)." Harvard Business School Background Note 321-037, August 2020.
- 05 Jul 2006
- Working Paper Summaries
Empirical Tests of Information Aggregation
- 16 Jan 2012
- Research & Ideas
Private Meetings of Public Companies Thwart Disclosure Rules
to significantly inform you in some way?" In a new study, Soltes and David H. Solomon suggest that private meetings indeed help investors make better trading decisions, giving them an advantage and therefore...
View Details
- March 2021
- Supplement
Facebook's Libra (B): The Privatization of Money?
By: Marco Di Maggio, Ethan Rouen, George Serafeim and Amy Klopfenstein
This case addresses the events that took place following the conclusion of the case “Facebook’s Libra (A): The Privatization of Money?” In October 2019, several months after the conclusion of the A case, multiple members of the Libra Association announced that they...
View Details
Keywords:
Blockchain;
Cryptocurrency;
Accounting;
Economics;
Money;
Governance;
Governing and Advisory Boards;
Policy;
Governance Controls;
Innovation and Invention;
Innovation Strategy;
Technological Innovation;
Disruptive Innovation;
Information Technology;
Digital Platforms;
Information Infrastructure;
Technology Industry;
Europe;
Switzerland;
United States;
California
Di Maggio, Marco, Ethan Rouen, George Serafeim, and Amy Klopfenstein. "Facebook's Libra (B): The Privatization of Money?" Harvard Business School Supplement 121-055, March 2021.
- May 2014
- Article
Representative Evidence on Lying Costs
By: Johannes Abeler, Anke Becker and Armin Falk
A central assumption in economics is that people misreport their private information if this is to their material benefit. Several recent models depart from this assumption and posit that some people do not lie or at least do not lie maximally. These models invoke many...
View Details
Keywords:
Private Information;
Lying Costs;
Tax Morale;
Representative Experiment;
Information;
Microeconomics;
Taxation;
Behavior
Abeler, Johannes, Anke Becker, and Armin Falk. "Representative Evidence on Lying Costs." Journal of Public Economics 113 (May 2014): 96–104.
- July 2023
- Article
Takahashi-Alexander Revisited: Modeling Private Equity Portfolio Outcomes Using Historical Simulations
By: Dawson Beutler, Alex Billias, Sam Holt, Josh Lerner and TzuHwan Seet
In 2001, Dean Takahashi and Seth Alexander of the Yale University Investments Office developed a deterministic model for estimating future cash flows and valuations for the Yale endowment’s private equity portfolio. Their model, which is simple and intuitive, is still...
View Details
Beutler, Dawson, Alex Billias, Sam Holt, Josh Lerner, and TzuHwan Seet. "Takahashi-Alexander Revisited: Modeling Private Equity Portfolio Outcomes Using Historical Simulations." Journal of Portfolio Management 49, no. 7 (July 2023): 144–158.
- 22 Feb 2024
- Research & Ideas
How to Make AI 'Forget' All the Private Data It Shouldn't Have
information is obscured, is known as differential privacy, and is applied widely in private data analysis. That's a very simple example, but that core idea can be applied to training these models as well....
View Details
- May 2011
- Article
Institutional Stock Trading on Loan Market Information
By: Victoria Ivashina and Zheng Sun
Over the past decade, one of the most important developments in the corporate loan market has been the increasing participation of institutional investors in lending syndicates. As lenders, institutional investors routinely receive private information about borrowers....
View Details
Ivashina, Victoria, and Zheng Sun. "Institutional Stock Trading on Loan Market Information ." Journal of Financial Economics 100, no. 2 (May 2011): 284–303.
- July 2011
- Article
The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking
By: Victoria Ivashina and Anna Kovner
This paper examines the impact of leveraged buyout firms' bank relationships on the terms of their syndicated loans. Using a sample of 1,590 loans financing private equity sponsored leveraged buyouts between 1993 and 2005, we find that bank relationships are an...
View Details
Keywords:
Leveraged Buyouts;
Private Equity;
Banks and Banking;
Financing and Loans;
Interest Rates;
Investment Return;
Relationships;
Banking Industry;
Financial Services Industry
Ivashina, Victoria, and Anna Kovner. "The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking." Review of Financial Studies 24, no. 7 (July 2011): 2462–2498.
- 2012
- Other Unpublished Work
What Are We Meeting For? The Consequences of Private Meetings with Investors
By: Eugene F. Soltes and David H. Solomon
Executives of publicly-traded firms spend considerable time meeting privately with investors, despite regulation restricting their ability to convey material nonpublic information. Using a set of records of all one-on-one meetings between senior management and...
View Details
Keywords:
Decision Choices and Conditions;
Investment;
Investment Funds;
Governing Rules, Regulations, and Reforms;
Management Teams;
Public Ownership;
Business and Shareholder Relations
Soltes, Eugene F., and David H. Solomon. "What Are We Meeting For? The Consequences of Private Meetings with Investors." September 2012.
- 09 Sep 2013
- Working Paper Summaries
The Disintermediation of Financial Markets: Direct Investing in Private Equity
- Article
The Influence of Ownership on Accounting Information Expenditures
This paper analyzes the association between ownership, top management incentives, and expenditures on accounting information. We argue that organizations with privately appointed boards of directors such as for-profit and non-governmental nonprofit organizations use...
View Details
Keywords:
Governance;
Motivation and Incentives;
Accounting;
Health Care and Treatment;
Ownership;
Health Industry
Eldenburg, Leslie, and Ranjani Krishnan. "The Influence of Ownership on Accounting Information Expenditures." Contemporary Accounting Research 25, no. 3 (Fall 2008).
- 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.
- May 2009
- Article
Asymmetric Information Effects on Loan Spreads
The paper estimates the cost arising from information asymmetry between the lead bank and members of the lending syndicate. In a lending syndicate, the lead bank retains only a fraction of the loan but acts as the intermediary between the borrower and the syndicate...
View Details
Keywords:
Cost;
Banks and Banking;
Financing and Loans;
Interest Rates;
Capital;
Investment Portfolio;
Credit;
Diversification;
Risk and Uncertainty
Ivashina, Victoria. "Asymmetric Information Effects on Loan Spreads." Journal of Financial Economics 92, no. 2 (May 2009): 300–319.