Harvard Corporate Governance

MARCH 22, 2022

Bebchuk (Harvard Law School), on Tuesday, March 22, 2022 Editor's Note: Lucian Bebchuk is the James Barr Ames Professor of Law, Economics, and Finance, and Director of the Program on Corporate Governance, at Harvard Law School. Jackson Jr. The Commission proposed several rules in its recent Release No. 34-93784 (the “Release”).

Equity 189

Equity Finance 189

Harvard Corporate Governance

NOVEMBER 8, 2022

Hu is the Allan Shivers Chair in the Law of Banking and Finance at the University of Texas Law School. Decoupling”—the unbundling of the rights and obligations of equity and debt through derivatives and other means—has posed unique challenges for corporate and debt governance.

Equity 203

Equity Banking Finance Marketability 203

Harvard Corporate Governance

AUGUST 3, 2022

Kothari is the Gordon Y Billard Professor of Accounting and Finance at MIT Sloan School of Management; and Parth Venkat is an Assistant Professor of Finance at the University of Alabama Culverhouse College of Business. This post is based on their recent paper.

Corporate Finance 203

Corporate Finance Finance Dividends Marketability 203

Global Finance

JUNE 6, 2024

For years, alternative financing models have been changing the way companies access cash. Now, fintech is offering innovations, from subscription and fee-based online lending marketplaces to blockchain, that are changing the alternative financing landscape itself. trillion in 2024 and forecast that it will reach $5.3

Finance 124

Finance Banking Equity Technology 124

Harvard Corporate Governance

JANUARY 13, 2024

In our memo early last year, we noted that private equity investors and dealmakers faced considerable uncertainty heading into 2023 following a challenging 2022. Not many would have predicted the rebound in equity markets in the second half of 2023 or the rising (for now) prospects of a soft landing for the broader U.S.

Equity 165

Equity Finance Marketability 165

Brian DeChesare

JANUARY 22, 2025

We sometimes get questions about why we dont offer an equity research course. People are convinced that financial modeling in equity research is vastly different from investment banking and that research requires different or more specialized skills. IB is all about deals , while ER is all about coverage.

Equity 64

Equity Banking Start-ups Finance 64

Harvard Corporate Governance

MAY 10, 2024

Posted by Juliane Begenau (Stanford University), and Emil Siriwardane (Harvard Business School), on Friday, May 10, 2024 Editor's Note: Juliane Begenau is an Associate Professor of Finance at Stanford Graduate School of Business, and Emil Siriwardane is an Associate Professor of Business Administration at Harvard Business School.

Equity 133

Equity Finance Marketability 133

Harvard Corporate Governance

AUGUST 8, 2024

In The Credit Markets Go Dark , we describe how private credit funds are reshaping corporate governance and corporate finance and offer new data capturing its meteoric rise.

Marketability 240

Marketability Corporate Finance Equity Finance 240

Harvard Corporate Governance

AUGUST 13, 2024

Introduction Publicly traded firms face pressure from equity market investors with short investment horizons. This post is based on their recent article published in the Journal of Financial Economics. This post is based on their recent article published in the Journal of Financial Economics.

Finance 277

Finance Equity Marketability 277

Harvard Corporate Governance

FEBRUARY 2, 2024

Consequently, fund families managing both equity and bond funds are more likely to hold stocks and bonds from the same company simultaneously (“dual holdings”). This post is based on their working paper. Using detailed holding data of mutual funds, our paper first documents a rising trend in mutual fund dual holdings of U.S.

Corporate Finance 289

Corporate Finance Finance Equity Marketability 289

Harvard Corporate Governance

AUGUST 28, 2023

Pension funds and institutional investors around the world have been allocating an increasing fraction of their assets under management to private equity (PE), venture capital (VC), and other types of private funds. in 2020, and 79% of investors stating that they expect to allocate a larger proportion of their funds to private equity by 2025.

Venture Capital Fund 189

Venture Capital Fund Equity Finance Marketability 189

Harvard Corporate Governance

JANUARY 20, 2025

Starks (The University of Texas at Austin), and Moritz Wagner (University of Canterbury), on Monday, January 20, 2025 Editor's Note: Jedrzej Bialkowski is a Professor of Finance at University of Canterbury, Laura T. This post is based on their recent paper. a little less than 5%.

Finance 124

Finance Equity Marketability 124

Accountancy Today

SEPTEMBER 25, 2023

FRP Corporate Finance has advised Harwood Private Equity on its sale of the Vegner Group, one of the UK’s leading property services businesses, to international property management group Odevo. The business, which has 20 offices across the UK and employs around 475 people, has been backed by Harwood Private Equity since 2020.

Corporate Finance 98

Corporate Finance Finance Equity Marketability 98

Harvard Corporate Governance

OCTOBER 17, 2023

In 2003, a group of approximately two dozen lawyers specializing in venture capital (VC) finance embarked on a mission to standardize the financing documents utilized by VC firms for investments in US-based startups. In a forthcoming chapter written for The Research Handbook on the Structure of Private Equity and Venture Capital (B.

Finance 311

Finance Equity 311

Harvard Corporate Governance

MAY 23, 2023

Reddy is an Associate Professor of Finance at the University of Cambridge. Why tap public investors for finance, and become exposed to burdensome regulation and the vicissitudes of the public markets, when growth can be sustained with private capital? Berwin Professor of Corporate Law, and Bobby V. public company.

Equity 217

Equity Marketability Market Capitalization Finance 217

Harvard Corporate Governance

JUNE 27, 2023

It is no exaggeration to say that over its roughly forty-year history, private equity has revolutionized both corporate finance and corporate governance. Today, private equity is one of the major global asset classes, and it has attracted a truly staggering amount of capital over a relatively short period of time.

Corporate Finance 230

Corporate Finance Finance Equity Marketability 230

Machen McChesney

FEBRUARY 8, 2024

Timely, reliable reports can increase the odds that a bank will approve your company’s loan application and equity investors will provide capital. Lenders and investors will generally want to review your company’s financial statements before they give it money.

Equity Financing 111

Equity Financing Equity Finance Banking 111

Viking Mergers

MAY 11, 2022

If you have ever looked into selling a business, you may have learned that there are many types of buyers and deal structures, from employee buyouts, strategic acquisitions, to private equity firms. We have noticed many misconceptions about a particular kind of buyer: the private equity firm. What Do Private Equity Firms Do?

Private Equity Firm 130

Private Equity Firm Equity Venture Capital Fund Finance 130

Harvard Corporate Governance

FEBRUARY 8, 2024

Widely held concerns about inflation, rising interest rates, and a possible recession combined to slow debt financing and deal activity in the first half of 2023. Private equity sponsors, in particular, held back on debt-financed leveraged buyouts while watching to see whether interest rates (or business valuations) would fall.

Finance 133

Finance Debt Financing Marketability Business Valuation 133

Lighter Capital

MAY 13, 2024

As non-dilutive funding solutions attract more interest from SaaS entrepreneurs, venture capital (VC) investors are seeing an increasing number of startups who have used them for their growth and working capital needs, many times combining revenue-based financing (RBF) with a term loan, or other types of debt financing. Who gets RBF?

Finance 105

Finance Venture Capital Fund Debt Financing Equity 105

Harvard Corporate Governance

APRIL 20, 2023

Shifting from equity to debt financing is not simply a matter of optimizing a firm’s cost of capital, however. Highly leveraged firms are now commonplace in many U.S. industries. It also has profound implications for the firm’s behavior and investor outcomes.

Debt Financing 258

Debt Financing Equity Finance Marketability 258

Harvard Corporate Governance

SEPTEMBER 22, 2022

Rates and financing costs to increase. The increasing interest rate environment has, and will inevitably continue, to make deal financing more costly as spreads widen. Leveraged loans and high-yield bonds are at the riskier end of the curve, and PE firms rely heavily on this financing.

Finance 247

Finance EBITDA Equity Marketability 247

Equidam

AUGUST 21, 2024

Invested capital, equity stake and valuation: how are they connected? Investors will typically have an ownership target in mind, and potentially a typical investment amount, so you will need to negotiate around that to ensure you get sufficient capital in return for a reasonable amount of equity.

Equity 116

Equity Start-ups Finance Marketability 116

Brian DeChesare

JANUARY 18, 2023

If you want to stimulate the urge to poke out your eyes and jump into a pool of lava, try searching for “Is Finance a Good Career Path?” Most articles present generic details everyone already knows, such as “finance jobs pay higher salaries, on average.”. Definitions: What is “Finance,” and What is a “Good Career”?

Finance 119

Finance Start-ups Banking Corporate Finance 119

Mckinsey and Company

MARCH 1, 2024

A new wave of software investing is on the horizon as private equity looks to create value through software portfolio companies.

Equity 131

Equity Corporate Finance Finance 131

Brian DeChesare

FEBRUARY 22, 2023

The best examples of buy-side firms are private equity firms , hedge funds , and venture capital firms. The best examples of buy-side firms are private equity firms , hedge funds , and venture capital firms.

Finance 130

Finance Marketability Banking Corporate Finance 130

Musings on Markets

AUGUST 19, 2024

In fact, the business life cycle has become an integral part of the corporate finance, valuation and investing classes that I teach, and in many of the posts that I have written on this blog. In 2022, I decided that I had hit critical mass, in terms of corporate life cycle content, and that the material could be organized as a book.

Corporate Finance 123

Corporate Finance Finance Start-ups Dividends 123

Harvard Corporate Governance

AUGUST 15, 2022

Diversity has become a key focus for every industry in recent years, and private equity, like many other parts of the financial sector, still has significant progress to make in terms of diversity and inclusion. Regulatory focus. EU regulation is placing greater emphasis on DEI, demonstrating growing appetite for change.

Equity 237

Equity Finance Marketability 237

Lighter Capital

SEPTEMBER 9, 2023

Startups have traditionally sold a portion of their company (equity ownership) to a business partner — typically a venture capital (VC) firm — to raise growth capital. Negotiating a high valuation in an equity raise has always been more favorable for startups with sizable market potential. What is revenue-based financing?

Finance 96

Finance Equity Start-ups Marketability 96

Mckinsey and Company

FEBRUARY 22, 2024

But first, they need a clear equity story. Sophisticated investors are more likely to afford a company more time to let its strategy play out, even during volatility.

Equity 145

Equity Corporate Finance Finance 145

Lighter Capital

JULY 22, 2023

Equity funding has its downsides, too — for many founders, it’s , not worth diluting equity and ceding control of the business for a few million dollars of runway. Convertible debt is relatively low-interest and converts into equity at a specified date (generally after a round of equity financing). Maturity date.

Finance 98

Finance Equity Equity Financing Banking 98

Accountancy Today

OCTOBER 4, 2023

FRP Corporate Finance has announced its team has advised management and private equity investment manager Foresight Group LLP on its sale of e-commerce personalisation platform, Fresh Relevance for £25m. It was a pleasure working with Management and Foresight on this sale.”

Corporate Finance 98

Corporate Finance Finance eCommerce Equity 98

Brian DeChesare

MARCH 13, 2024

Over the past few decades, growth equity (GE) has gone from an afterthought to a major asset class for huge investment firms. Some argue that GE offers the best of both worlds: the opportunity to fund innovation and growth – as in venture capital – plus the ability to limit downside risk and invest in proven companies – as in private equity.

Equity 105

Equity Start-ups Marketability Banking 105

Global Finance

JUNE 17, 2024

A 10-year veteran at DBS Bank, Karoonyavanich recently expanded his role to cover all Equity Capital Markets business for the bank globally when the firm merged its equities, fixed income and brokerage businesses to form a new Investment Banking unit. Its Hong Kong market share surged from a mere 0.2% in 2021 to an impressive 6.7%

Equity 111

Equity Marketability Banking Start-ups 111

Brian DeChesare

DECEMBER 4, 2024

But this started changing in the 2010s and early 2020s as team values skyrocketed and billionaires, sovereign wealth funds , and sports private equity firms all jumped into the sector. It mixes public finance , project finance , real estate , and infrastructure. What is Sports Investment Banking? Can teams carry debt?

Banking 105

Banking Finance Technology Equity 105

Financial Times M&A

JANUARY 1, 2025

The issues facing private equity, dealmaking, corporate Japan and beyond

Finance 98

Finance Equity 98

Harvard Corporate Governance

JULY 29, 2024

Posted by Michael Eisenband, FTI Consulting, on Monday, July 29, 2024 Editor's Note: Michael Eisenband is Global Co-Leader of Corporate Finance & Restructuring at FTI Consulting. Overall, some $210 billion of equity capital was raised by nearly 750 large U.S. This post is based on his FTI Consulting memorandum. 4] (more…)

Marketability 255

Marketability Corporate Finance Finance Equity 255