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• Case | HBS Case Collection | 2012 (Revised from original 2002 version)

  Williams, 2002

  Joshua Coval, Robin Greenwood and Peter Tufano

  Williams, a Tulsa, Oklahoma-based firm in various energy businesses, must decide whether to accept a financing package offered by Berkshire Hathaway and Lehman Brothers. The proposed one-year credit facility would provide the firm with financial resources in a difficult period.

  Keywords: Financial Management; Crisis Management; Credit; Capital Structure; Financial Strategy; Financing and Loans; Financial Instruments; Energy Industry; United States;

  Citation:

  Coval, Joshua, Robin Greenwood, and Peter Tufano. "Williams, 2002." Harvard Business School Case 203-068, October 2012. (Revised from original December 2002 version.)

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• Case | HBS Case Collection | 2012 (Revised from original 2008 version)

  Tottenham Hotspur plc

  Lauren H. Cohen, Joshua D. Coval and Christopher J. Malloy

  Tottenham Hotspur Football Club is a publicly-owned professional soccer team based in London, England. The club's chairman, Daniel Levy, is contemplating a significant investment in physical assets, including the development of a new stadium as well as the acquisition of a new player. The team must decide if the expected cash flows associated with adding the stadium, the player, or both, warrant the considerable required investments in these assets

  Keywords: Valuation; Capital Budgeting; Decisions; Competency and Skills; Cash Flow; Investment; Assets; Buildings and Facilities; Sports; Sports Industry; London;

  Citation:

  Cohen, Lauren H., Joshua D. Coval, and Christopher J. Malloy. "Tottenham Hotspur plc." Harvard Business School Case 209-059, August 2012. (Revised from original November 2008 version.)

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• Article | Journal of Political Economy | December 2011

  Do Powerful Politicians Cause Corporate Downsizing?

  Lauren Cohen, Joshua Coval and Christopher J. Malloy

  This paper employs a new empirical approach for identifying the impact of government spending on the private sector. Our key innovation is to use changes in congressional committee chairmanship as a source of exogenous variation in state-level federal expenditures. In doing so, we show that fiscal spending shocks appear to significantly dampen corporate sector investment and employment activity. This retrenchment follows both Senate and House committee chair changes, occurs in large and small firms and within large and small states, and is most pronounced among geographically concentrated firms. The effects are economically meaningful and the mechanism-entirely distinct from the more traditional interest rate and tax channels-suggests new considerations in assessing the impact of government spending on private sector economic activity.

  Keywords: Spending; Private Sector; Taxation; Innovation and Invention; Interest Rates; Business and Government Relations; Investment; Employment; Power and Influence;

  Citation:

  Cohen, Lauren, Joshua Coval, and Christopher J. Malloy. "Do Powerful Politicians Cause Corporate Downsizing?" Journal of Political Economy 119, no. 6 (December 2011): 1015–1060.

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