Paul A. Gompers
Eugene Holman Professor of Business Administration
Chair, MBA Elective Curriculum
Paul Gompers, Professor of Business Administration at the Harvard Business School, specializes in research on financial issues related to start-up, high growth, and newly public companies. Professor Gompers has an appointment in both the Finance and Entrepreneurial Management areas. He received his A.B. summa cum laude in biology from Harvard College in 1987. After spending a year working as a research biochemist for Bayer Chemical AG, he attended Oxford University on a Marshall Fellowship where he received an M.Sc. in economics. He completed his Ph.D. in Business Economics at Harvard University in 1993. Professor Gompers spent two years as an Assistant Professor of Finance at the Graduate School of Business, the University of Chicago where he created a new course entitled 'Entrepreneurial Finance and Management.' His course development efforts at the Harvard Business School focuses on issues affecting entrepreneurial firms and their investors. He also teaches in HBS Executive Education. His research focuses on the structure, governance, and performance of private equity funds; sources of financing, incentive design, and performance of private firms; and long-run performance evaluation for newly public companies. His work on private equity funds has examined the relationship between general partners and their portfolio companies. Gompers has investigated factors affecting the structure, timing, and monitoring activities by the general partner and how these factors affect the success or failure of entrepreneurial firms. Similarly, he has examined the relationship between institutional investors and private equity fund managers. This work has examined a large collection of partnership agreements and examined issues of compensation, covenants and restrictions, as well as distribution policy and performance. Other research efforts examine the institutional and market factors that influence the performance of newly public companies. He is a Faculty Research Fellow in the National Bureau of Economic Research's Corporate Finance Program.
Personal Information: Links to MBA Courses: Links to Focused Financial Management Series: Links to Finance Related Sites:
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Article
| Journal of Financial Economics
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Performance Persistence in Entrepreneurship and Venture Capital
Paul A. Gompers, Josh Lerner, David Scharfstein and Anna Kovner
This paper presents evidence of performance persistence in entrepreneurship. We show that entrepreneurs with a track record of success are much more likely to succeed than first-time entrepreneurs and those who have previously failed. In particular, they exhibit persistence in selecting the right industry and time to start new ventures. Entrepreneurs with demonstrated market-timing skill are also more likely to outperform industry peers in their subsequent ventures. This is consistent with the view that if suppliers and customers perceive the entrepreneur to have market-timing skill, and is therefore more likely to succeed, they will be more willing to commit resources to the firm. In this way, success breeds success and strengthens performance persistence.
Keywords: Performance;
Entrepreneurship;
Venture Capital;
Market Timing;
Competency and Skills;
Customers;
Resource Allocation;
Success;
Business Startups;
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Article
| Review of Financial Studies
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Extreme Governance: An Analysis of Dual-Class Firms in the United States
Paul A. Gompers, Joy Ishii and Andrew Metrick
We construct a comprehensive list of dual-class firms in the United States and use this list to analyze the relationship between insider ownership and firm value. Our data have two useful features. First, since dual-class stock separates cash-flow rights from voting rights, we can separately identify the impact of each. Second, we address endogeneity concerns by using exogenous predictors of dual-class status as instruments. In single-stage regressions, we find strong evidence that firm value is increasing in insiders' cash-flow rights and decreasing in insider voting rights. In instrumental variable regressions, the point estimates are similar but the significance levels are lower.
Keywords: Voting;
Cash Flow;
Stocks;
Rights;
Ownership Stake;
Value;
United States;
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Article
| Journal of Urban Economics
|
Buy Local? The Geography of Successful Venture Capital Expansion
Henry Chen, Paul A. Gompers, Anna Kovner and Josh Lerner
We document geographic concentration by both venture capital firms and venture capital-financed companies in three metropolitan areas: San Francisco, Boston, and New York. We find that venture capital firms locate in regions with high success rates of venture capital-backed investments. Geography is also significantly related to outcomes. Venture capital firms based in locales that are venture capital centers outperform, regardless of the stage of the investment. This outperformance arises from outsized performance outside of the venture capital firms' office locations, including in peripheral locations. If the goal of state and local policy makers is to encourage venture capital investment, outperformance of non-local investments suggests that policy makers might want to mitigate costs associated with established venture capitalists investing in their geographies rather than encouraging the establishment of new venture capital firms.
Keywords: Venture Capital;
Expansion;
Success;
Capital;
Geographic Location;
Business Units;
Corporate Accountability;
Business Offices;
Goals and Objectives;
Mission and Purpose;
Investment Funds;
Corporate Governance;
Boston;
New York (state, US);
San Francisco;
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Journal Article
| Journal of Economics & Management Strategy
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Specialization and Success: Evidence from Venture Capital
Paul A. Gompers, Anna Kovner and Josh Lerner
This paper examines how organizational structure affects behavior and outcomes, studying the performance of different types of venture capital organizations. We find a strong positive relationship between the degree of specialization by individual venture capitalists at a firm and its success. When the individual investment professionals are highly specialized themselves, the marginal effect of increasing overall firm specialization is much weaker. The poorer performance by generalists appears to be due to both an inefficient allocation of funding across industries and poor selection of investments within industries. Venture capital organizations with more experience tend to outperform those with less experience.
Keywords: Experience and Expertise;
Venture Capital;
Organizational Structure;
Outcome or Result;
Performance Effectiveness;
Behavior;
Financial Services Industry;
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Article
| Journal of Financial Economics
|
Venture Capital Investment Cycles: The Impact of Public Markets
Paul Gompers, Anna Kovner, Josh Lerner and David Scharfstein
It is well documented that the venture capital industry is highly volatile and that much of this volatility is associated with shifting valuations and activity in public equity markets. This paper examines how changes in public market signals affected venture capital investing between 1975 and 1998. We find that venture capitalists with the most industry experience increase their investments the most when public market signals become more favorable. Their reaction to an increase is greater than the reaction of venture capital organizations with relatively little industry experience and those with considerable experience but in other industries. The increase in investment rates does not affect the success of these transactions adversely to a significant extent. These findings are consistent with the view that venture capitalists rationally respond to attractive investment opportunities signaled by public market shifts.
Keywords: History;
Venture Capital;
Investment;
Experience and Expertise;
Public Equity;
Volatility;
Financial Services Industry;
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Article
| Journal of Corporate Finance
|
Large Blocks of Stock: Prevalence, Size, and Measurement
Jennifer Lauren Dlugosz, Rudiger Fahlenbrach, Paul Gompers and Andrew Metrick
Keywords: Stocks;
Measurement and Metrics;
Size;
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Article
| Journal of Finance
|
Entrepreneurial Spawning: Public Corporations and the Formation of New Ventures, 1986-1999
Paul A. Gompers, Josh Lerner and David S. Scharfstein
Keywords: Entrepreneurship;
Business Ventures;
Growth and Development;
Business History;
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Article
| Journal of Law & Economics
|
The Determinants of Board Structure at the Initial Public Offering
Malcolm Baker and Paul Gompers
This paper describes board size and composition and investigates the role of venture capital in a sample of 1,116 firms' initial public offerings. First, firms backed by venture capital have fewer insider and instrumental directors and more independent outsiders. Second, we consider board composition as the outcome of a bargain between the CEO and outside shareholders. Representation of independent outsiders on the board decreases with the power of the CEO--tenure and voting control--and increases with the power of outside investors--venture capital backing and venture firm reputation. Third, within the sample of firms financed by venture capital and also consistent with a bargaining model, the probability that a founder remains as CEO is decreasing in venture firm reputation. Finally, we examine the influence of venture capital backing and board structure on firm outcomes in the 10 years after the initial public offering.
Keywords: Governing and Advisory Boards;
Venture Capital;
Initial Public Offering;
Managerial Roles;
Power and Influence;
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Article
| Journal of Finance
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The Really Long-Run Performance of Initial Public Offerings: The Pre-Nasdaq Evidence
Paul A. Gompers and Josh Lerner
Keywords: Initial Public Offering;
Stocks;
Markets;
Performance;
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Article
| Review of Financial Studies
|
The Role of Lockups in Initial Public Offerings
Alon Brav and Paul A. Gompers
In a sample of 2,794 initial public offerings (IPOs), we test three potential explanations for the existence of IPO lockups: lockups serve as (i) a signal of firm quality, (ii) a commitment device to alleviate moral hazard problems, or (iii) a mechanism for underwriters to extract additional compensation from the issuing firm. Our results support the commitment hypothesis. Insiders of firms that are associated with greater potential for moral hazard lockup their shares for a longer period of time. Insiders of firms that have experienced larger excess returns, are backed by venture capitalists, or go public with high-quality underwriters are more likely to be released from the lockup restrictions.
Keywords: Initial Public Offering;
Quality;
Moral Sensibility;
Compensation and Benefits;
Venture Capital;
Problems and Challenges;
Stock Shares;
Going Public;
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Article
| Quarterly Journal of Economics
|
Corporate Governance and Equity Prices
Paul A. Gompers, Joy L. Ishii and Andrew Metrick
Keywords: Corporate Governance;
Equity;
Price;
Citation: Gompers, Paul A., Joy L. Ishii, and Andrew Metrick. " Corporate Governance and Equity Prices." Quarterly Journal of Economics (February 2003). (Winner of Geewax, Terker & Company Prize in Investment Research presented by Rodney L. White Center for Financial Research.)
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Article
| Journal of Financial Economics
|
Who Underreacts to Cash-Flow News? Evidence from Trading between Individuals and Institutions
Randolph B. Cohen, Paul A. Gompers and Tuomo Vuolteenaho
Keywords: Cash Flow;
Trade;
Relationships;
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Article
| Federal Reserve Bank of Atlanta Economic Review
|
Corporations and the Financing of Innovation
Paul A. Gompers
Keywords: Financing and Loans;
Innovation and Invention;
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Article
| Journal of Economic Perspectives
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The Venture Capital Revolution
Paul A. Gompers and J. Lerner
Keywords: Venture Capital;
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Article
| Journal of Financial Economics
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Is the Abnormal Return Following Equity Issuances Anomalous?
A. Brav, C. Geczy and Paul Gompers
Keywords: Equity;
Insurance;
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Article
| Journal of Financial Economics
|
Money Chasing Deals?: The Impact of Fund Inflows on the Valuation of Private Equity Investments
Paul Gompers and Josh Lerner
Keywords: Money;
Valuation;
Finance;
Investment;
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Article
| Quarterly Journal of Economics
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Institutional Investors and Equity Prices
Paul A. Gompers and A. Metrick
Keywords: Investment;
Equity;
Price;
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Article
| Journal of Law & Economics
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Conflict of Interest in the Issuance of Public Securities: Evidence from Venture Capital
Paul Gompers and Josh Lerner
Keywords: Conflict of Interests;
Financial Instruments;
Venture Capital;
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Article
| Journal of Financial Economics
|
An Analysis of Compensation in the U.S. Venture Capital Partnership
Paul Gompers and Josh Lerner
Keywords: Compensation and Benefits;
Venture Capital;
Partners and Partnerships;
United States;
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Article
| Journal of Finance
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Venture Capital Distributions: Short-Run and Long-Run Reactions
Paul Gompers and Josh Lerner
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Article
| Journal of Banking & Finance
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Venture Capital Growing Pains: Should the Market Diet?
Paul A. Gompers
Keywords: Venture Capital;
Growth and Development;
Markets;
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Article
| Brookings Papers on Economic Activity. Microeconomics
|
What Drives Venture Capital Fundraising?
P. Gompers and J. Lerner
Keywords: Venture Capital;
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Article
| Journal of Finance
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'Myth or Reality?' The Long-run Underperformance of Initial Public Offerings: Evidence from Venture- and Nonventure-capital-backed Companies
Paul A. Gompers and A. Brav
Keywords: Initial Public Offering;
Capital;
Business Ventures;
Venture Capital;
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Article
| Journal of Private Equity
|
Venture Capital and the Creation of Public Companies: Do Venture Capitalists Really Bring More than Money?
Paul A. Gompers and Josh Lerner
Keywords: Venture Capital;
Business Ventures;
Money;
Public Ownership;
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Article
| Journal of Private Equity
|
Risk and Reward in Private Equity Investments: The Challenge of Performance Assessment
Paul A. Gompers and J. Lerner
Keywords: Risk and Uncertainty;
Motivation and Incentives;
For-Profit Firms;
Equity;
Investment;
Problems and Challenges;
Performance;
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Article
| Journal of Law & Economics
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The Use of Covenants: An Empirical Analysis of Venture Partnership Agreements
Paul A. Gompers and J. Lerner
Keywords: Partners and Partnerships;
Theory;
Agreements and Arrangements;
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Article
| Journal of Financial Economics
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Grandstanding in the Venture Capital Industry
Paul A. Gompers
Keywords: Venture Capital;
Business Ventures;
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Article
| Journal of Finance
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Optimal Investment, Monitoring, and the Staging of Venture Capital
Paul A. Gompers
Keywords: Investment;
Venture Capital;
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Article
| Business and Economic History
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The Rise and Fall of Venture Capital
Paul A. Gompers
Keywords: Venture Capital;
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Chapter
| Handbook of Modern Finance
| 2004
Venture Capital
Paul Gompers and Josh Lerner
Keywords: Venture Capital;
Citation: Gompers, Paul, and Josh Lerner. "Venture Capital." Chap. D5 of Handbook of Modern Finance, edited by James Seward, and Dennis Logue. New York: Warren, Gorham & Lamont, 2004.
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Chapter
| Research Handbook on International Banking and Governance
| 2012
The Role of Venture Capitalists in the Acquisition of Private Companies
Paul A. Gompers and Yuhai Xuan
Keywords: Venture Capital;
Acquisition;
Private Ownership;
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Chapter
| Innovation Policy and the Economy
| 2011
Short-Term America Revisited? Boom and Bust in the Venture Capital Industry and the Impact on Innovation?
Josh Lerner and Paul Gompers
Keywords: Venture Capital;
Innovation and Invention;
Business Cycles;
Financial Services Industry;
United States;
Citation: Lerner, Josh, and Paul Gompers. "Short-Term America Revisited? Boom and Bust in the Venture Capital Industry and the Impact on Innovation?" In Innovation Policy and the Economy. Vol. 3, edited by Adam B. Jaffe, Josh Lerner, and Scott Stern.NBER Books. MIT Press, 2002.
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Chapter
| The Handbook of Corporate Finance: Empirical Corporate Finance
| 2002
Venture Capital and Private Equity
Paul A. Gompers
Keywords: Venture Capital;
Private Equity;
Citation: Gompers, Paul A. "Venture Capital and Private Equity." In The Handbook of Corporate Finance: Empirical Corporate Finance, edited by Espen Eckbo. New York: Elsevier/North-Holland, 2002.
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Chapter
| The Technology Management Handbook
| 1999
Venture Capital
Paul Gompers and Josh Lerner
Keywords: Venture Capital;
Citation: Gompers, Paul, and Josh Lerner. "Venture Capital." In The Technology Management Handbook, edited by Richard C. Dorf, 1–16 to 1–21. New York: CRC Press, 1999.
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Chapter
| Concentrated Corporate Ownership
| 2000
Can Corporate Venture Capital Succeed? Organizational Structure, Complementarities, and Success
Paul Gompers and Josh Lerner
Keywords: Venture Capital;
Business Ventures;
Organizational Structure;
Success;
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Chapter
| The Economic Evaluation of Technological Change
| 1998
Capital Formation and Investment in Venture Markets: An Assessment of Market Imperfections
P. Gompers
Keywords: Capital Markets;
Venture Capital;
Investment;
Citation: Gompers, P. "Capital Formation and Investment in Venture Markets: An Assessment of Market Imperfections." In The Economic Evaluation of Technological Change, edited by Paul A. Gompers. National Institute of Standards and Technology, 1998.
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Chapter
| Entrepreneurship, SMEs, and the Macroeconomy
| 1997
Resource Allocation, Incentives, and Control: The Importance of Venture Capital in Financing Entrepreneurial Firms
P. A. Gompers
Keywords: Venture Capital;
Resource Allocation;
Motivation and Incentives;
Corporate Entrepreneurship;
Corporate Governance;
Citation: Gompers, P. A. "Resource Allocation, Incentives, and Control: The Importance of Venture Capital in Financing Entrepreneurial Firms." In Entrepreneurship, SMEs, and the Macroeconomy, edited by Zoltan J. Acs, Bo Carlsson, and Charlie Karlsson. Cambridge University Press, 1997.
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Working Paper
| 2012
The Cost of Friendship
Paul A. Gompers, Yuhai Xuan and Vladimir Mukharlyamov
This paper explores two broad questions on collaboration between individuals. First, we investigate what personal characteristics affect people's desire to work together. Second, given the influence of these personal characteristics, we analyze whether this attraction enhances or detracts from performance. Addressing these problems in the venture capital syndication setting, we show that venture capitalists exhibit strong detrimental homophily in their co-investment decisions. We find that individual venture capitalists choose to collaborate with other venture capitalists for both ability-based characteristics (e.g., whether both individuals in a dyad obtained a degree from a top university) and affinity-based characteristics (e.g., whether individuals in a pair share the same ethnic background, attended the same school, or worked for the same employer previously). Moreover, frequent collaborators in syndication are those venture capitalists who display a high level of mutual affinity. We find that while collaborating for ability-based characteristics enhances investment performance, collaborating for affinity-based characteristics dramatically reduces the probability of investment success. A variety of tests show that the cost of affinity is not driven by selection into inferior deals; the effect is most likely attributable to poor decision-making by high-affinity syndicates post investment. Taken together, our results suggest that non-ability-based "birds-of-a-feather-flock-together" effects in collaboration can be costly.
Citation: Gompers, Paul A., Yuhai Xuan, and Vladimir Mukharlyamov. " The Cost of Friendship." NBER Working Paper Series, No. 18141, June 2012.
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Working Paper
| 2004
Large Blocks of Stock: Prevalence, Size, and Measurement
Jennifer Dlugosz, Rudiger Fahlenbrach, Paul Gompers and Andrew Metrick
Citation: Dlugosz, Jennifer, Rudiger Fahlenbrach, Paul Gompers, and Andrew Metrick. "Large Blocks of Stock: Prevalence, Size, and Measurement." NBER Working Paper Series, No. w10671, August 2004.
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Working Paper
| 2004
Incentives vs. Control: An Analysis of U.S. Dual-Class Companies
Paul A Gompers, Joy Ishii and Andrew Metrick
Citation: Gompers, Paul A., Joy Ishii, and Andrew Metrick. "Incentives vs. Control: An Analysis of U.S. Dual-Class Companies." NBER Working Paper Series, No. w10240, January 2004.
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Case
| HBS Case Collection
|
2012
Harrah's Entertainment
Paul A. Gompers, Kristin Mugford and J. Daniel Kim
This case examines the issues of establishing a capital structure for the leveraged buyout of Harrah's Casino.
Keywords: private equity;
leveraged buyouts;
debt markets;
loan contracts;
covenants;
casinos;
gaming;
Equity;
Entertainment and Recreation Industry;
United States;
Citation: Gompers, Paul A., Kristin Mugford, and J. Daniel Kim. " Harrah's Entertainment." Harvard Business School Case 213-054, October 2012.
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Supplement
| HBS Case Collection
|
2012
United Capital Partners (B)
Paul A. Gompers, J. Daniel Kim and Vladimir Mukharlyamov
This case continues the discussion started in the (A) case about a proposed growth equity investor in a Russian fashion retail chain.
Keywords: private equity;
fashion;
growth equity;
Private Equity;
Fashion Industry;
Financial Services Industry;
Retail Industry;
Russia;
Citation: Gompers, Paul A., J. Daniel Kim, and Vladimir Mukharlyamov. "United Capital Partners (B)." Harvard Business School Supplement 213-045, September 2012.
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Case
| HBS Case Collection
|
2012
United Capital Partners (A)
Paul A. Gompers, J. Daniel Kim and Vladimir Mukharlyamov
This case examines a proposed growth equity investor in a Russian fashion retail chain.
Keywords: private equity;
fashion;
growth equity;
Private Equity;
Fashion Industry;
Financial Services Industry;
Retail Industry;
Europe;
Russia;
Citation: Gompers, Paul A., J. Daniel Kim, and Vladimir Mukharlyamov. "United Capital Partners (A)." Harvard Business School Case 213-044, September 2012.
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Technical Note
| HBS Case Collection
|
2012
Private Equity Valuation in Emerging Markets
Paul A. Gompers, Victoria Ivashina and Timothy Dore
This note provides an opportunity to understand how private equity investors need to adapt to emerging markets.
Keywords: private equity;
valuation;
emerging markets;
Finance;
Private Equity;
Valuation;
Citation: Gompers, Paul A., Victoria Ivashina, and Timothy Dore. "Private Equity Valuation in Emerging Markets." Harvard Business School Technical Note 213-043, September 2012.
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Background Note
| HBS Case Collection
|
2012
A Note on Valuation in Private Equity
Paul A. Gompers
This note will provide an overview of valuation methodologies in private equity.
Keywords: valuation;
private equity;
valuation methodologies;
leveraged buyouts;
Private Equity;
Leveraged Buyouts;
Citation: Gompers, Paul A. "A Note on Valuation in Private Equity." Harvard Business School Background Note 213-034, August 2012.
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Course Overview Note
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2012
Introduction to Private Equity Finance
Paul A. Gompers and Paul A. Gompers
This note will aid in introducing students to the Private Equity Finance course.
Keywords: corporate finance;
private equity;
valuation;
financing;
capital structure;
Finance;
Private Equity;
Citation: Gompers, Paul A. "Introduction to Private Equity Finance." Harvard Business School Course Overview Note 213-033, August 2012.
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Case
| HBS Case Collection
|
2012
Private Equity Finance Vignettes: 2012
Paul A. Gompers and J. Daniel Kim
This case contains four vignettes that provide an introduction to the issues covered in the course, Private Equity Finance.
Keywords: deal sourcing;
private equity;
bidding;
Private Equity;
Bids and Bidding;
North America;
Citation: Gompers, Paul A., and J. Daniel Kim. "Private Equity Finance Vignettes: 2012." Harvard Business School Case 213-026, July 2012.
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Background Note
| HBS Case Collection
|
2012
(Revised from original 1997 version)
A Note on Franchising
Paul A. Gompers and Catherine M. Conneely
Examines the motivations for franchising. Examines the academic literature in the area and draws implications for franchising patterns. Also provides data on franchising patterns.
Keywords: Franchise Ownership;
Citation: Gompers, Paul A., and Catherine M. Conneely. " A Note on Franchising." Harvard Business School Background Note 297-108, February 2012. (Revised from original June 1997 version.)
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Case
| HBS Case Collection
|
2012
FirstMark Capital
Paul Gompers and J. Daniel Kim
Keywords: Venture Capital;
Citation: Gompers, Paul, and J. Daniel Kim. "FirstMark Capital." Harvard Business School Case 212-041, February 2012.
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Case
| HBS Case Collection
|
2011
(Revised from original 2010 version)
Charter Communications Bankruptcy
Paul A. Gompers and Emily Weisburst
Charter Communications' bankruptcy presents an opportunity for some of its creditors to convert their debt holdings into equity. A mutual fund manager must determine how to maximize his debt investment in Charter given the restructuring and decide whether to participate in an additional equity rights offering led by three private equity firms, Apollo Management, Oaktree Capital Management and Crestview Partners.
Keywords: Insolvency and Bankruptcy;
Private Equity;
Borrowing and Debt;
Investment;
Financial Strategy;
Financial Services Industry;
Citation: Gompers, Paul A., and Emily Weisburst. "Charter Communications Bankruptcy." Harvard Business School Case 211-035, January 2011. (Revised from original October 2010 version.)
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Case
| HBS Case Collection
|
2010
(Revised from original 1999 version)
Car Wash Partners, Inc.
Paul A. Gompers
Examines the investment decision of Cabot Brown and Bill Burgin, two venture capitalists, to finance Car Wash Partners (CWP). CWP intends to purchase automatic car washes around the country. Investment strategy and deal structuring are discussed.
Keywords: Mergers and Acquisitions;
Entrepreneurship;
Venture Capital;
Financial Strategy;
Auto Industry;
Service Industry;
Citation: Gompers, Paul A. " Car Wash Partners, Inc." Harvard Business School Case 299-034, June 2010. (Revised from original February 1999 version.)
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Case
| HBS Case Collection
|
2009
(Revised from original 2003 version)
Hudson Manufacturing Company
Paul A. Gompers and Vanessa del Valle Broussard
Concerns the decision by Brett Keith and Owen Colligan to purchase Hudson Manufacturing, a maker of heaters and air filtration units for the military. Keith and Colligan have organized a search fund and identified Hudson as a potential buyout. The decline in the trucking market and potential environmental contamination, however, stand to stop the deal.
Keywords: Mergers and Acquisitions;
Decision Choices and Conditions;
Investment;
Pollution and Pollutants;
Industrial Products Industry;
Manufacturing Industry;
Citation: Gompers, Paul A., and Vanessa del Valle Broussard. " Hudson Manufacturing Company." Harvard Business School Case 203-064, November 2009. (Revised from original March 2003 version.)
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Case
| HBS Case Collection
|
2008
Vueling Airlines
Paul A. Gompers and Kristin A. Perry
Keywords: Air Transportation Industry;
Citation: Gompers, Paul A., and Kristin A. Perry. "Vueling Airlines." Harvard Business School Case 808-077, March 2008.
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Case
| HBS Case Collection
|
2008
(Revised from original 2004 version)
Precise Software
Paul A. Gompers and Sara Bergson
Yossi Sela, general partner at Gemini Venture capital, considers a new investment in Precise Software. The firm is at a crisis point, and Sela needs to decide whether he will fire the firm's chief executive officer. Conflicts between the American CEO and the Israeli founders of the firm are hampering the company.
Keywords: Venture Capital;
Investment;
Resignation and Termination;
Crisis Management;
Managerial Roles;
Conflict and Resolution;
Israel;
United States;
Citation: Gompers, Paul A., and Sara Bergson. " Precise Software." Harvard Business School Case 204-157, March 2008. (Revised from original April 2004 version.)
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Case
| HBS Case Collection
|
2007
New Oriental Education
Paul A. Gompers and Kristin Perry
Keywords: Education Industry;
China;
Citation: Gompers, Paul A., and Kristin Perry. "New Oriental Education." Harvard Business School Case 807-129, May 2007.
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Case
| HBS Case Collection
|
2007
(Revised from original 2006 version)
Endeca Technologies: New Growth Opportunities
Paul A. Gompers and Kristin Perry
Steve Papa, CEO of Endeca Technologies, must decide whether to expand into a new market with a new application of his company's technology. Endeca has experienced significant success with its information access software in the online retail industry, and in September 2004 is poised to enter similar industries with similar products. However, it also faces an opportunity to create a unique solution for the manufacturing industry, a market the company knows little about and that has proven difficult to enter in the past. Which expansion strategy should Papa choose? Although the manufacturing market would yield a much higher average deal size, significant uncertainty surrounded a move away from Endeca's core business. It would impact the company's sales practices, organizational structure, product requirements, and decisions about whether to partner with other companies in the field. Taylor Hunte Industries, a Fortune 500 giant in the manufacturing industry, has just invited Endeca to submit a request for proposal--due in just 10 days.
Keywords: Decision Choices and Conditions;
Market Entry and Exit;
Production;
Organizational Structure;
Partners and Partnerships;
Opportunities;
Expansion;
Online Technology;
Software;
Information Technology Industry;
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Case
| HBS Case Collection
|
2004
(Revised from original 2004 version)
Sarvega
Paul A. Gompers and Vanessa del Valle Broussard
David Cowan, general partner at Bessemer Venture Partners, has taken the lead on Sarvega, a Bessemer-backed company that was recently orphaned by the departure of one of Bessemer's other general partners. Cowan must decide whether to reinvest in Sarvega and, if so, under what terms.
Keywords: Decisions;
Venture Capital;
Investment;
Governance Compliance;
Resignation and Termination;
Negotiation Deal;
Partners and Partnerships;
Information Technology Industry;
Citation: Gompers, Paul A., and Vanessa del Valle Broussard. " Sarvega." Harvard Business School Case 204-137, June 2004. (Revised from original May 2004 version.)
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Background Note
| HBS Case Collection
|
2004
Emergence of "Silicon Wadi", The
Paul A. Gompers and Sara Bergson
Provides background information on the high-tech industry in Israel.
Keywords: Software;
Industry Clusters;
Information Technology Industry;
Israel;
Citation: Gompers, Paul A., and Sara Bergson. Emergence of " Silicon Wadi", The. Harvard Business School Background Note 204-156, April 2004.
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Case
| HBS Case Collection
|
2002
Venture Capital Fund Restructuring Vignettes (Abridged)
Paul A. Gompers
This case examines the changes in fund structures proposed by four venture capital firms in 2002: Accel Partners, Battery Ventures, Charles River Ventures, and Kleiner Perkins Caufield & Byers. The venture capital market has experienced a major downturn, and these funds are trying to address investor concerns.
Keywords: Venture Capital;
Restructuring;
Financial Crisis;
Motivation and Incentives;
Business and Shareholder Relations;
Investment Funds;
Financial Services Industry;
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Case
| HBS Case Collection
|
2002
Ocular
Paul A. Gompers, Gregor M. Andrade and Jonathan Man
Concerns the decision of Ed Kennedy, co-founder of Ocular Networks, as he decides what financing strategy his firm should take. The venture capital and public markets for telecommunications start-ups had dried up and Kennedy must decide whether to cut costs and raise new venture capital money or seek a strategic acquirer.
Keywords: Acquisition;
Business Startups;
Decisions;
Venture Capital;
Cost Management;
Business Strategy;
Telecommunications Industry;
Citation: Gompers, Paul A., Gregor M. Andrade, and Jonathan Man. " Ocular." Harvard Business School Case 202-118, April 2002.
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Case
| HBS Case Collection
|
2002
Knoll Furniture: Going Public
Paul A. Gompers and Jon Asher Daniels
This case examines the decisions of John Lynch, president and CEO of Knoll Furniture, to go public in early 1997. Knoll went private in an LBO in 1996 and Warburg Pincus, the LBO sponsor, wants Lynch to take Knoll public. Lynch needs to weigh the positive and negative issues of a public offering.
Keywords: Leveraged Buyouts;
Decisions;
Initial Public Offering;
Going Public;
Privatization;
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Teaching Note
| HBS Case Collection
|
2001
Parenting Magazine TN
Paul A. Gompers
Teaching Note for (9-291-015). A rewritten version of an earlier teaching note.
Keywords: Money;
Capital;
Capital Budgeting;
Decisions;
Cost Accounting;
Economic Systems;
Negotiation Process;
Corporate Accountability;
Negotiation Deal;
Business Startups;
Financial Strategy;
Corporate Finance;
Journalism and News Industry;
Publishing Industry;
Citation: Gompers, Paul A. " Parenting Magazine TN." Harvard Business School Teaching Note 202-065, December 2001.
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Teaching Note
| HBS Case Collection
|
2001
Nantucket Nectars, TN
Paul A. Gompers
Teaching Note for (9-898-171).
Citation: Gompers, Paul A. " Nantucket Nectars, TN." Harvard Business School Teaching Note 202-074, December 2001.
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Teaching Note
| HBS Case Collection
|
2001
Honest Tea, TN
Paul A. Gompers
Teaching Note for (9-201-076).
Citation: Gompers, Paul A. " Honest Tea, TN." Harvard Business School Teaching Note 202-069, December 2001.
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Teaching Note
| HBS Case Collection
|
2001
Knot,The TN
Paul A. Gompers
Teaching Note for (9-899-116).
Keywords: Service Industry;
Consulting Industry;
Citation: Gompers, Paul A. " Knot,The TN." Harvard Business School Teaching Note 202-070, December 2001.
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Teaching Note
| HBS Case Collection
|
2001
Record Masters, TN
Paul A. Gompers
Teaching Note for (9-899-020).
Keywords: Information Industry;
Citation: Gompers, Paul A. " Record Masters, TN." Harvard Business School Teaching Note 202-075, December 2001.
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Teaching Note
| HBS Case Collection
|
2001
Beta Golf TN
Paul A. Gompers
Teaching Note for (9-898-162).
Citation: Gompers, Paul A. " Beta Golf TN." Harvard Business School Teaching Note 202-062, December 2001.
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Teaching Note
| HBS Case Collection
|
2001
Fenchel Lampshade Company TN
Paul A. Gompers
Teaching Note for (9-291-014).
Keywords: Manufacturing Industry;
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Teaching Note
| HBS Case Collection
|
2001
edocs, Inc. Series TN
Paul A. Gompers
Teaching Note for (90200-015), (9-200-020), and (9-200-021).
Keywords: Information Technology Industry;
Citation: Gompers, Paul A. " edocs, Inc. Series TN." Harvard Business School Teaching Note 202-064, December 2001.
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Teaching Note
| HBS Case Collection
|
2001
Cachet Technologies TN
Paul A. Gompers
Teaching Note for (9-200-031).
Keywords: Financial Services Industry;
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Teaching Note
| HBS Case Collection
|
2001
Dell Ventures TN
Paul A. Gompers
Teaching Note for (9-200-062).
Keywords: Computer Industry;
Citation: Gompers, Paul A. " Dell Ventures TN." Harvard Business School Teaching Note 202-072, December 2001.
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Teaching Note
| HBS Case Collection
|
2001
HIMSCORP, Inc., TN
Paul A. Gompers
Teaching Note for (9-899-021).
Keywords: Information Industry;
Citation: Gompers, Paul A. " HIMSCORP, Inc., TN." Harvard Business School Teaching Note 202-073, December 2001.
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Teaching Note
| HBS Case Collection
|
2001
Carlton Polish Co. TN
Paul A. Gompers
Teaching Note for (9-283-008).
Citation: Gompers, Paul A. " Carlton Polish Co. TN." Harvard Business School Teaching Note 202-076, December 2001.
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Case
| HBS Case Collection
|
2001
(Revised from original 1998 version)
Fitzpatrick Hotel Group (A)
Paul A. Gompers and Catherine M. Conneely
Examines the issues raised in the financing of the Fitzpatrick Hotel Group, an Irish hotelier. The perspective of Paddy Fitzpatrick, founder and CEO at Fitzpatrick Group, and Niall Carroll, founder of ACT Venture Capital, are contrasted.
Citation: Gompers, Paul A., and Catherine M. Conneely. " Fitzpatrick Hotel Group (A)." Harvard Business School Case 298-002, December 2001. (Revised from original January 1998 version.)
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Background Note
| HBS Case Collection
|
2001
(Revised from original 1997 version)
Note on Strategic Alliances, A
Paul A. Gompers and Alexander Tsai
Presents an overview of strategic alliance. Discusses the academic literature and its implications for the structure of strategic alliances. Also details the types of strategic alliances utilized by small, growing firms.
Keywords: Alliances;
Strategy;
Citation: Gompers, Paul A., and Alexander Tsai. " Note on Strategic Alliances, A." Harvard Business School Background Note 298-047, October 2001. (Revised from original November 1997 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 2000 version)
Dell Ventures
Paul A. Gompers, Carin-Isabel Knoop and Cate Reavis
Describes the rationale behind the strategy and structure of Dell Computer Corp.'s VC arm, Dell Ventures. While Dell Ventures had a phenomenal year one, it faced a number of challenges including dealing with market risks, finding and retaining talent, maintaining focus, and gaining the attention of Wall Street.
Keywords: Business Divisions;
Talent and Talent Management;
Goals and Objectives;
Risk Management;
Organizational Structure;
Interests;
Business Strategy;
Computer Industry;
Citation: Gompers, Paul A., Carin-Isabel Knoop, and Cate Reavis. " Dell Ventures." Harvard Business School Case 200-062, October 2001. (Revised from original May 2000 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 1997 version)
Tutor Time (B)
Paul A. Gompers and Catherine M. Conneely
Citation: Gompers, Paul A., and Catherine M. Conneely. " Tutor Time (B)." Harvard Business School Case 297-074, October 2001. (Revised from original June 1997 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 1997 version)
Elliot Lebowitz
Paul A. Gompers and Alexander Tsai
Elliot Lebowitz, president and CEO of BioTransplant, must decide on a strategy for this young biotechnology start-up. Among the issues to be resolved are focus of research and search for strategic alliance partners.
Citation: Gompers, Paul A., and Alexander Tsai. " Elliot Lebowitz." Harvard Business School Case 297-094, October 2001. (Revised from original June 1997 version.)
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Background Note
| HBS Case Collection
|
2001
(Revised from original 1997 version)
A Note on Government Sources of Financing for Small Businesses
Paul A. Gompers and Catherine M. Conneely
Discusses issues related to government sources of financing for small business in the United States. In addition to presenting motivations for government financing programs, the note gives a detailed presentation of major federal programs to assist small business.
Keywords: Corporate Finance;
Business and Government Relations;
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Case
| HBS Case Collection
|
2001
(Revised from original 1998 version)
Torrent Systems
Paul A. Gompers and Benjamin Kaplan
Citation: Gompers, Paul A., and Benjamin Kaplan. " Torrent Systems." Harvard Business School Case 298-084, October 2001. (Revised from original February 1998 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 2001 version)
Honest Tea
Paul A. Gompers
This case examines the decisions of Seth Goldman and Barry Nalebuff, founders of Honest Tea. Honest Tea is a start-up in the ready-to-drink tea market. Goldman and Nalebuff must craft an expansion and financing strategy.
Keywords: Financial Strategy;
Expansion;
Business Startups;
Growth and Development Strategy;
Decisions;
Citation: Gompers, Paul A. " Honest Tea." Harvard Business School Case 201-076, October 2001. (Revised from original March 2001 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 1997 version)
efficient market services: August 1993 (A)
Paul A. Gompers and Jeffrey A. Farrell
Penny Baron, vice president of efficient market services, must decide how to finance rapid expansion for a young market research company. Venture leasing is a possibility and terms are explored.
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Case
| HBS Case Collection
|
2001
(Revised from original 1997 version)
efficient market services: August 1993 (B-1), ems Management
Paul A. Gompers and Jeffrey A. Farrell
Supplements the (A) case.
Keywords: Service Industry;
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Case
| HBS Case Collection
|
2001
(Revised from original 1998 version)
efficient market services: August 1993 (B-2), Comdisco Ventures
Paul A. Gompers and Jeffrey A. Farrell
Supplements the (A) case.
Keywords: Service Industry;
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Case
| HBS Case Collection
|
2001
(Revised from original 1998 version)
Xedia and Silicon Valley Bank (A)
Paul A. Gompers and Jon Biotti
Xedia, a networking equipment manufacturer that helps provide high-speed Internet service for corporate clients through access routing, wants a bridge loan to fund daily operations until it raises its next round of equity financing.
Keywords: Venture Capital;
Equity;
Financing and Loans;
Negotiation;
Production;
Internet;
Banking Industry;
Citation: Gompers, Paul A., and Jon Biotti. " Xedia and Silicon Valley Bank (A)." Harvard Business School Case 298-119, October 2001. (Revised from original March 1998 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 1998 version)
Xedia and Silicon Valley Bank (B-1): The Bank's Perspective
Paul A. Gompers and Jon Biotti
Supplements the (A) case.
Keywords: Banking Industry;
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Case
| HBS Case Collection
|
2001
(Revised from original 1998 version)
Xedia and Silicon Valley Bank (B-2): The Company's Perspective
Paul A. Gompers and Jon Biotti
Supplements the (A) case.
Keywords: Banking Industry;
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Case
| HBS Case Collection
|
2001
(Revised from original 1998 version)
Xedia and Silicon Valley Bank (C): The Final Agreement
Paul A. Gompers and Jon Biotti
Supplements the (A) case.
Keywords: Banking Industry;
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Case
| HBS Case Collection
|
2001
(Revised from original 2000 version)
edocs, Inc. (B-1): Kevin Laracey
Paul A. Gompers
Supplements the (A) case.
Keywords: Information Technology Industry;
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Case
| HBS Case Collection
|
2001
(Revised from original 2000 version)
edocs, Inc. (B-2): Jonathon Guerster
Paul A. Gompers
Supplements the (A) case.
Keywords: Information Technology Industry;
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Case
| HBS Case Collection
|
2001
(Revised from original 1998 version)
Genset: 1989
Paul A. Gompers and Amy Burroughs
Discusses the start-up strategy at Genset, a French biotech firm. Pascal Brandys, a venture capitalist, and Marc Vasseur, a leading French scientist, must decide how to proceed. Future real options are central to the strategy.
Citation: Gompers, Paul A., and Amy Burroughs. " Genset: 1989." Harvard Business School Case 298-070, September 2001. (Revised from original January 1998 version.)
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Background Note
| HBS Case Collection
|
2001
(Revised from original 1998 version)
A Note on Angel Financing
Paul A. Gompers
Discusses the economics of the private equity market and recent efforts by the U.S. Small Business Administration to promote greater angel financing.
Keywords: Financial Markets;
Government and Politics;
Financing and Loans;
Financial Services Industry;
United States;
Citation: Gompers, Paul A. " A Note on Angel Financing." Harvard Business School Background Note 298-083, September 2001. (Revised from original January 1998 version.)
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Case
| HBS Case Collection
|
2001
(Revised from original 1999 version)
Penelope's Personal Pocket Phones
Paul A. Gompers
Provides students with an opportunity to use simple real options analysis to value a startup. Penelope Phillips is deciding whether to start a company to make wireless phones. Students get experience using traditional discounted cash flow valuation and a real options approach.
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Case
| HBS Case Collection
|
2001
(Revised from original 2000 version)
edocs, Inc. (A)
Paul A. Gompers
Describes the development of edocs, an Internet company aimed at revolutionizing the on-line bill presentment market. Kevin Laracey must negotiate a venture capital investment with Jonathon Guerster, an associate at Charles River Ventures. Can be used as a role-playing exercise in negotiating a venture capital deal.
Keywords: Venture Capital;
Investment;
Growth and Development;
Negotiation Deal;
Internet;
Information Technology Industry;
Citation: Gompers, Paul A. " edocs, Inc. (A)." Harvard Business School Case 200-015, September 2001. (Revised from original February 2000 version.)
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Background Note
| HBS Case Collection
|
2001
(Revised from original 1994 version)
A Note on the Venture Capital Industry
Paul A. Gompers and Josh Lerner
The history of the venture capital industry is reviewed, and the key institutional features described.
Keywords: Venture Capital;
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Background Note
| HBS Case Collection
|
2001
(Revised from original 1997 version)
Introduction to Entrepreneurial Finance
Paul A. Gompers
Presents an overview of the issues covered in Entrepreneurial Finance. The frameworks of analysis as well as themes of the course are covered. Additionally, provides references on entrepreneurial finance from both academics and the popular press.
Keywords: Entrepreneurship;
Corporate Finance;
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Case
| HBS Case Collection
|
2001
(Revised from original 1997 version)
Genset Initial Public Offering (A)
Paul A. Gompers and Jeffrey M. Anapolsky
Pascal Brandys, founder and CEO of Genset, must decide whether to take this young biotechnology company public. If so, should he do a dual offering in both France and the U.S.? The case also explores the business models in genomics research.
Citation: Gompers, Paul A., and Jeffrey M. Anapolsky. " Genset Initial Public Offering (A)." Harvard Business School Case 297-096, March 2001. (Revised from original June 1997 version.)
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Case
| HBS Case Collection
|
2001
Bang Networks, Inc.
Paul A. Gompers and Sergio Rattner
Bob Rosin, president and CEO of Bang Networks, must decide how much debt financing to take on. The company is a raw start-up and is considering taking on $10 million in debt. The firm has six offers and needs to identify the best one.
Keywords: Business Startups;
Restructuring;
Decisions;
Borrowing and Debt;
Venture Capital;
Citation: Gompers, Paul A., and Sergio Rattner. " Bang Networks, Inc." Harvard Business School Case 201-074, February 2001.
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Case
| HBS Case Collection
|
2001
ALWAYSi
Paul A. Gompers and Sergio Rattner
Anthony Soohoo, COO at ALWAYSi, an independent film distributor, is preparing projections for the company. Soohoo must decide which revenue streams the company should pursue. The firm is faced with a variety of attractive opportunities.
Keywords: Forecasting and Prediction;
Business Strategy;
Revenue;
Film Entertainment;
Strategic Planning;
Business Startups;
Entertainment and Recreation Industry;
Citation: Gompers, Paul A., and Sergio Rattner. " ALWAYSi." Harvard Business School Case 201-075, February 2001.
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Case
| HBS Case Collection
|
2000
(Revised from original 2000 version)
Pet Doctors: 1999
Paul A. Gompers and David James Alexander Grant
Describes the decisions confronting David Hodges and Garret Turley about whether to grow their chain of veterinary clinics in the United Kingdom. Turley and Hodges must decide whether to attempt to speed up their acquisition pace and raise venture capital.
Citation: Gompers, Paul A., and David James Alexander Grant. " Pet Doctors: 1999." Harvard Business School Case 200-016, March 2000. (Revised from original February 2000 version.)
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Case
| HBS Case Collection
|
2000
(Revised from original 1999 version)
ZEFER: November 1998
Paul A. Gompers
ZEFER, a young Internet professional service firm, is considering its expansion options. Organic growth versus growth by acquisition is a central theme. The firm's financing strategy will be determined by its business strategy.
Keywords: Acquisition;
Financial Strategy;
Service Operations;
Business Strategy;
Expansion;
Internet;
Service Industry;
Citation: Gompers, Paul A. " ZEFER: November 1998." Harvard Business School Case 299-032, March 2000. (Revised from original January 1999 version.)
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Case
| HBS Case Collection
|
2000
(Revised from original 2000 version)
Cachet Technologies
Paul A. Gompers and Howard Reitz
Describes the decision facing Danny Lewin, Jonathan Seelig, and Tom Leighton, the founders of Cachet Technologies, an MIT spin-out. The firm has done poorly in the annual MIT business plan competition and the founders have to decide whether to continue.
Keywords: Decision Making;
Business Startups;
Business Plan;
Failure;
Cooperative Ownership;
Business Strategy;
Financial Services Industry;
Citation: Gompers, Paul A., and Howard Reitz. " Cachet Technologies." Harvard Business School Case 200-031, March 2000. (Revised from original January 2000 version.)
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Case
| HBS Case Collection
|
1999
(Revised from original 1998 version)
Fitzpatrick Hotel Group (B1): Niall Carroll
Paul A. Gompers and Catherine M. Conneely
Supplements the (A) case.
Keywords: Republic of Ireland;
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Case
| HBS Case Collection
|
1999
(Revised from original 1998 version)
Fitzpatrick Hotel Group (B-2): Paddy Fitzpatrick
Paul A. Gompers and Catherine M. Conneely
Supplements the (A) case.
Keywords: Republic of Ireland;
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Teaching Note
| HBS Case Collection
|
1999
MSE, Inc. Privatization: August 1997 & MSE,Inc. Privatization: August 1997 (Abridged) TN
Paul A. Gompers
Keywords: Privatization;
Citation: Gompers, Paul A. "MSE, Inc. Privatization: August 1997 & MSE,Inc. Privatization: August 1997 (Abridged) TN." Harvard Business School Teaching Note 299-067, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
Penelope's Personal Pocket Phones TN
Paul A. Gompers
Teaching Note for (9-299-004).
-
Teaching Note
| HBS Case Collection
|
1999
Sky Air, Inc. TN
Paul A. Gompers
Teaching Note for (9-297-110).
Keywords: Air Transportation Industry;
Citation: Gompers, Paul A. " Sky Air, Inc. TN." Harvard Business School Teaching Note 299-072, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
Knightsbridge Advisers, Inc. TN
Paul A. Gompers
Citation: Gompers, Paul A. "Knightsbridge Advisers, Inc. TN." Harvard Business School Teaching Note 299-066, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
New York Bagel: Hungary, April 1994 TN
Paul A. Gompers
Keywords: Food and Beverage Industry;
Hungary;
Citation: Gompers, Paul A. "New York Bagel: Hungary, April 1994 TN." Harvard Business School Teaching Note 299-068, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
Venture Capital in Ireland: Getting Their ACT Together TN
Paul A. Gompers
Teaching Note for (9-298-001).
Keywords: Financial Services Industry;
Republic of Ireland;
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Teaching Note
| HBS Case Collection
|
1999
ZEFER: November 1998 TN
Paul A. Gompers
Teaching Note for (9-299-032).
Keywords: Service Industry;
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Teaching Note
| HBS Case Collection
|
1999
BioTransplant Inc.: Initial Public Offering, January 1996 TN
Paul A. Gompers
Teaching Note for (9-297-095).
-
Teaching Note
| HBS Case Collection
|
1999
Cambridge Technology Partners: Corporate Venturing (August 1996) TN
Paul A. Gompers
Teaching Note for (9-297-033).
Keywords: Information Technology Industry;
Consulting Industry;
Cambridge;
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Teaching Note
| HBS Case Collection
|
1999
Fitzpatrick Hotel Group Series TN
Paul A. Gompers
Teaching Note for (9-298-002), (9-298-003), and (9-298-004).
Keywords: Republic of Ireland;
-
Teaching Note
| HBS Case Collection
|
1999
Global Digital Utilities Corporation TN
Paul A. Gompers
Keywords: Utilities Industry;
Citation: Gompers, Paul A. "Global Digital Utilities Corporation TN." Harvard Business School Teaching Note 299-065, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
APV Technology Partners II, L.P. TN
Paul A. Gompers
Keywords: Technology Industry;
Citation: Gompers, Paul A. "APV Technology Partners II, L.P. TN." Harvard Business School Teaching Note 299-053, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
efficient market services: August 1993 Series TN
Paul A. Gompers
Teaching Note for (9-298-009), (9-298-010), and (9-298-011).
Keywords: Service Industry;
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Teaching Note
| HBS Case Collection
|
1999
Tutor Time (A) TN
Paul A. Gompers
Citation: Gompers, Paul A. "Tutor Time (A) TN." Harvard Business School Teaching Note 299-074, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
Xedia and Silicon Valley Bank Series TN
Paul A. Gompers
Teaching Note for (9-298-119), (9-298-120), (9-298-121), and (9-298-122).
Keywords: Banking Industry;
-
Teaching Note
| HBS Case Collection
|
1999
Tutor Time (B) TN
Paul A. Gompers
Citation: Gompers, Paul A. "Tutor Time (B) TN." Harvard Business School Teaching Note 299-078, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
Car Wash Partners, Inc. TN
Paul A. Gompers
Teaching Note for (9-299-034).
Keywords: Financing and Loans;
Investment;
Strategy;
Negotiation Deal;
Venture Capital;
Service Industry;
-
Teaching Note
| HBS Case Collection
|
1999
Advent Israel Venture Capital Program TN
Paul A. Gompers
Teaching Note for (9-298-072).
Keywords: Financial Services Industry;
Israel;
-
Teaching Note
| HBS Case Collection
|
1999
Cambridge Technology Partners - 1991 Start Up TN
Paul A. Gompers
Teaching Note for (9-298-044).
Keywords: Information Technology Industry;
Consulting Industry;
Cambridge;
-
Teaching Note
| HBS Case Collection
|
1999
Digital Everywhere, Inc. TN
Paul A. Gompers
Teaching Note for (9-298-099).
-
Teaching Note
| HBS Case Collection
|
1999
Elliot Lebowitz TN
Paul A. Gompers
Teaching Note for (9-297-094).
Keywords: Biotechnology Industry;
Citation: Gompers, Paul A. " Elliot Lebowitz TN." Harvard Business School Teaching Note 299-060, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
Genset: 1989 TN
Paul A. Gompers
Teaching Note for (9-298-070).
Keywords: Biotechnology Industry;
France;
Citation: Gompers, Paul A. " Genset: 1989 TN." Harvard Business School Teaching Note 299-063, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
Genset Initial Public Offering (A) & (B) TN
Paul A. Gompers
Teaching Note for (9-297-096) and (9-297-097).
Keywords: Biotechnology Industry;
United States;
France;
-
Teaching Note
| HBS Case Collection
|
1999
NSK Software Technologies Ltd. TN
Paul A. Gompers
Teaching Note for (9-298-071).
Keywords: Information Technology Industry;
Israel;
-
Teaching Note
| HBS Case Collection
|
1999
Prague Post, The TN
Paul A. Gompers
Teaching Note for (9-299-033).
Keywords: Publishing Industry;
Czech Republic;
Citation: Gompers, Paul A. " Prague Post, The TN." Harvard Business School Teaching Note 299-071, May 1999.
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Teaching Note
| HBS Case Collection
|
1999
Torrent Systems TN
Paul A. Gompers
Citation: Gompers, Paul A. "Torrent Systems TN." Harvard Business School Teaching Note 299-073, May 1999.
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Case
| HBS Case Collection
|
1999
Prague Post, The
Paul A. Gompers
Lisa Frankenberg, co-founder of the Prague Post, is faced with several business and professional decisions. The English-language paper she founded is under pressure from competition and a Czech Republic recession. She must decide how to return the paper to profitability. Similarly, Frankenberg must decide whether to come back to the United States to start a consulting job.
Keywords: Growth and Development Strategy;
Decisions;
Decision Choices and Conditions;
Profit;
Competition;
Financial Crisis;
Personal Development and Career;
Publishing Industry;
Czech Republic;
Citation: Gompers, Paul A. " Prague Post, The." Harvard Business School Case 299-033, January 1999.
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Background Note
| HBS Case Collection
|
1999
(Revised from original 1998 version)
A Note on Valuation in Entrepreneurial Ventures
Paul A. Gompers
Discusses various valuation methodologies for analyzing entrepreneurial firms. Gives a description of the methodologies and describes when each method is appropriate.
Keywords: Valuation;
Business Ventures;
Entrepreneurship;
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Case
| HBS Case Collection
|
1999
(Revised from original 1997 version)
Cambridge Technology Partners: Corporate Venturing (August 1996)
Paul A. Gompers and Catherine M. Conneely
Concerns the decision of Jim Sims, president and CEO of Cambridge Technology Partners (CTP) to form a corporate venture capital subsidiary. CTP is a fast-growing information technology consulting firm that has been presented with many investment opportunities from clients and employees.
Keywords: Decisions;
Venture Capital;
Leadership;
Information Technology;
Investment;
Opportunities;
Customer Focus and Relationships;
Business Startups;
Business Subsidiaries;
Information Technology Industry;
Consulting Industry;
Cambridge;
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Case
| HBS Case Collection
|
1999
(Revised from original 1998 version)
Digital Everywhere, Inc.
Paul A. Gompers
Presents a valuation problem in a fictitious firm, Digital Everywhere. Students have the opportunity to compare various discounted cash flow valuation models in an entrepreneurial firm.
Citation: Gompers, Paul A. " Digital Everywhere, Inc." Harvard Business School Case 298-099, January 1999. (Revised from original February 1998 version.)
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Case
| HBS Case Collection
|
1998
(Revised from original 1998 version)
NSK Software Technologies Ltd.
Paul A. Gompers and Jeffrey M. Anapolsky
Discusses the efforts of three Israeli software engineers' efforts to bring a network security software product to market. The firm needs an investment to complete programming and start marketing.
Citation: Gompers, Paul A., and Jeffrey M. Anapolsky. " NSK Software Technologies Ltd." Harvard Business School Case 298-071, December 1998. (Revised from original January 1998 version.)
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Case
| HBS Case Collection
|
1998
(Revised from original 1997 version)
Sky Air, Inc.
Paul A. Gompers
Concerns a fictitious airline company and examines the moral hazard situation that results within a firm. Provides an opportunity to discuss corporate governance and contracting under uncertainty.
Keywords: Ethics;
Corporate Governance;
Contracts;
Risk and Uncertainty;
Air Transportation Industry;
Citation: Gompers, Paul A. " Sky Air, Inc." Harvard Business School Case 297-110, November 1998. (Revised from original June 1997 version.)
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Case
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1998
(Revised from original 1997 version)
Tutor Time (A)
Paul A. Gompers
Keywords: Education Industry;
Citation: Gompers, Paul A. " Tutor Time (A)." Harvard Business School Case 297-064, November 1998. (Revised from original June 1997 version.)
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Case
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1998
(Revised from original 1997 version)
Cambridge Technology Partners - 1991 Start Up
Paul A. Gompers and Catherine M. Conneely
Jim Sims tries to close the deal to create Cambridge Technology Partners (CTP) in a spin-out from a troubled technology consulting firm. The deal looks tenuous.
Keywords: Business Startups;
Negotiation Deal;
Technology;
Organizations;
Information Technology Industry;
Consulting Industry;
Cambridge;
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Case
| HBS Case Collection
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1998
MSE, Inc. Privatization: August 1997
Paul A. Gompers and Alexander Tsai
Keywords: Privatization;
Alliances;
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Case
| HBS Case Collection
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1998
Venture Capital in Ireland: Getting Their ACT Together
Paul A. Gompers and Catherine M. Conneely
Analyzes the decisions of Niall Carroll, an Irish banker, to start a venture capital fund focused on Ireland. The context of the Irish markets and the nature of Irish opportunities are explored.
Keywords: Business Startups;
Venture Capital;
Markets;
Market Entry and Exit;
Financial Services Industry;
Republic of Ireland;
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Case
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1998
Advent Israel Venture Capital Program, The
Paul A. Gompers and Jeffrey M. Anapolsky
Explores the decision by Advent, an international venture capital firm, to start a fund focused on Israel. Advent must decide who to hire to run the fund and how much money to raise.
Keywords: Venture Capital;
Global Strategy;
Recruitment;
Expansion;
Business Strategy;
Financial Services Industry;
Israel;
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Case
| HBS Case Collection
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1998
MSE, Inc. Privatization: August 1997 (Abridged)
Paul A. Gompers and Alexander Tsai
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Background Note
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1998
Contracting and Control in Venture Capital
Paul A. Gompers
Discusses the control mechanisms and contracts utilized by venture capitalists. The emphasis is on understanding potential conflicts of interest and how the contracts mitigate those conflicts.
Keywords: Venture Capital;
Governance Controls;
Contracts;
Business or Company Management;
Conflict of Interests;
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Case
| HBS Case Collection
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1997
(Revised from original 1997 version)
APV Technology Partners II, L.P.
Paul A. Gompers and Jeffrey M. Anapolsky
Keywords: Technology Industry;
Citation: Gompers, Paul A., and Jeffrey M. Anapolsky. " APV Technology Partners II, L.P." Harvard Business School Case 298-048, September 1997. (Revised from original August 1997 version.)
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Case
| HBS Case Collection
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1997
(Revised from original 1997 version)
Genset Initial Public Offering (B)
Paul A. Gompers and Jeffrey M. Anapolsky
Supplements the (A) case.
Keywords: Biotechnology Industry;
United States;
France;
Citation: Gompers, Paul A., and Jeffrey M. Anapolsky. " Genset Initial Public Offering (B)." Harvard Business School Case 297-097, September 1997. (Revised from original June 1997 version.)
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Case
| HBS Case Collection
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1997
Global Digital Utilities Corporation
Paul A. Gompers
Keywords: Technology Industry;
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Case
| HBS Case Collection
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1997
New York Bagel: Hungary, April 1994
Paul A. Gompers and Catherine M. Conneely
Keywords: Food and Beverage Industry;
Hungary;
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Background Note
| HBS Case Collection
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1997
A Note on the Internet
Paul A. Gompers and Jeffrey A. Farrell
Examines the evolution and structure of the Internet. A particular focus is placed on various business segments and possible applications of Internet technology.
Keywords: Industry Structures;
Internet;
Online Technology;
Citation: Gompers, Paul A., and Jeffrey A. Farrell. "A Note on the Internet." Harvard Business School Background Note 297-109, June 1997.
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Case
| HBS Case Collection
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1997
BioTransplant, Inc.: Initial Public Offering, January 1996
Paul A. Gompers and Alexander Tsai
Examines the decision to go public. BioTransplant is an early stage biotechnology company that must decide how to finance its research and development. The pros and cons of public offerings are analyzed versus alternative financing sources.
Keywords: Initial Public Offering;
Financing and Loans;
Research and Development;
Going Public;
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Case
| HBS Case Collection
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1996
Knightsbridge Advisers, Inc.
Paul A. Gompers
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Other Unpublished Work
| 2012
To Err is Human. To Forgive is a Mistake
Paul A. Gompers, Yuhai Xuan and Vladimir Mukharlyamov
Citation: Gompers, Paul A., Yuhai Xuan, and Vladimir Mukharlyamov. "To Err is Human. To Forgive is a Mistake." 2012.
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Other Unpublished Work
| 2009
Bridge Building in Venture Capital-Backed Acquisitions
Paul A. Gompers and Yuhai Xuan
We study the role of common venture capital investors in alleviating asymmetric information between public acquirers and private venture capital-backed targets. We find that acquisition announcement returns are more positive for acquisitions in which both the target and the acquirer are financed by the same venture capital firm. Similarly, having a common investor increases the likelihood that a transaction will be all equity-financed and the likelihood that an acquisition will take place. Our results suggest that common venture capital investors can form a bridge between acquiring and target firms that reduces asymmetric information associated with the transaction for both parties.
Keywords: Mergers and Acquisitions;
Venture Capital;
Private Equity;
Knowledge Sharing;
Market Transactions;
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Other Unpublished Work
| 2009
Reputation and Contractual Flexibility: Evidence from Venture Capital Distribution Pricing Policy
Paul A. Gompers, Andrew Metrick and Timothy Dore
Keywords: Reputation;
Contracts;
Venture Capital;
Price;
Citation: Gompers, Paul A., Andrew Metrick, and Timothy Dore. "Reputation and Contractual Flexibility: Evidence from Venture Capital Distribution Pricing Policy." January 2009.
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Other Paper
| 2008
Why Experienced Venture Capitalists Leave Money on the Table: Evidence from Initial Public Offerings
P. Gompers, A. Brav and Timothy Dore
Citation: Gompers, P., A. Brav, and Timothy Dore. "Why Experienced Venture Capitalists Leave Money on the Table: Evidence from Initial Public Offerings."
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Other Paper
| 2007
Venture Capital and Private Equity Distributions: Pricing Policies and Price Reactions
P. Gompers, Andrew Metrick and Timothy Dore
Citation: Gompers, P., Andrew Metrick, and Timothy Dore. "Venture Capital and Private Equity Distributions: Pricing Policies and Price Reactions."
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Other Unpublished Work
| 2005
Venture Capital Investment Cycles: The Role of Experience and Specialization
P. Gompers, Anna R. Kovner, Josh Lerner and David S. Scharfstein
Keywords: Venture Capital;
Citation: Gompers, P., Anna R. Kovner, Josh Lerner, and David S. Scharfstein. "Venture Capital Investment Cycles: The Role of Experience and Specialization." December 2005.
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Other Unpublished Work
| 2005
Institutions, Capital Constraints and Entrepreneurial Firm Dynamics: Evidence from Europe
Mihir Desai, Paul Gompers and Josh Lerner
Keywords: Corporate Entrepreneurship;
Capital;
Europe;
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Other Unpublished Work
| 2005
Large Blocks of Stock: Prevalence, Size, and Measurement
P. Gompers, Andrew Metrick, Rudi Fahlenbrach and Jennifer Lauren Dlugosz
Keywords: Measurement and Metrics;
Citation: Gompers, P., Andrew Metrick, Rudi Fahlenbrach, and Jennifer Lauren Dlugosz. "Large Blocks of Stock: Prevalence, Size, and Measurement." January 2005.
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Other Unpublished Work
| 2004
The Role of Venture Capital in the Acquisition of Private Companies
P. Gompers and Yuhai Xuan
Keywords: Venture Capital;
Acquisition;
Private Ownership;
Citation: Gompers, P., and Yuhai Xuan. "The Role of Venture Capital in the Acquisition of Private Companies." October 2004.
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Other Unpublished Work
| 1999
Executive Ownership and Control in Newly Public Firms: The Role of Venture Capitalists
Malcolm Baker and Paul Gompers
We study the implications of CEO equity ownership for incentives and control in a sample of 1,011 newly public firms. Before an initial public offering, equity investments by venture capitalists reduce CEO ownership by about half, from an average of 35 percent to 19 percent. Venture capitalists narrow this difference by granting options, reducing secondary sales, and lowering the dilution by primary shares, but a gap in post-IPO CEO equity ownership remains. The effect of this lower ownership on incentives depends upon the measure employed - the dollar sensitivity of CEO pay to firm value is lower in venture firms, but the elasticity is about the same. In addition, we present evidence that lower ownership, combined with concentrated outside holdings, leads to a reduction in the agency costs of managerial control. We conclude that the patterns of ownership in part represent a tradeoff by venture capitalists between the benefits of incentives and the agency costs of control.
Keywords: Equity;
Ownership;
Motivation and Incentives;
Initial Public Offering;
Investment;
Venture Capital;
Managerial Roles;
Cost Management;
Governance Controls;
Executive Compensation;
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Other Unpublished Work
| 1999
Ownership and Control in Entrepreneurial Firms: An Examination of Convertible Securities in Venture Capital Investment
Paul A. Gompers
Keywords: Business Startups;
Ownership;
Management;
Debt Securities;
Venture Capital;
Citation: Gompers, Paul A. "Ownership and Control in Entrepreneurial Firms: An Examination of Convertible Securities in Venture Capital Investment." January 1999.
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