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Teaching Note | HBS Case Collection | March 2011

Shenzhen Development Bank (TN)

by Li Jin and Yuhai Xuan

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Abstract

Teaching Note for 210020.

Keywords: Partners and Partnerships; Decisions; Investment; Commercial Banking; Growth and Development; Negotiation Deal; Labor and Management Relations; Planning; Banking Industry; Financial Services Industry; China;

Format: Print 18 pages Purchase

Citation:

Jin, Li, and Yuhai Xuan. "Shenzhen Development Bank (TN)." Harvard Business School Teaching Note 211-070, March 2011.

More from these Authors

  • Article | Journal of Financial Economics | July 2016

    Under New Management: Equity Issues and the Attribution of Past Returns

    Malcolm Baker and Yuhai Xuan

    There is a strong link between measures of stock market performance, such as changes in Tobin's Q or past stock returns, and equity issues. Typically, this performance is thought to be a characteristic of the firm, not the CEO who happens to run the firm. In contrast to this conventional wisdom, we find that equity issues depend on changes in Q and returns to a greater extent if the current CEO was at the helm when those past returns were realized. What we label the CEO-specific Q and past return explains equity issuance, but it does not explain debt issuance, investment, or profitability. Two discontinuity analyses show that the specific share price that the current CEO inherited is an important reference point, while salient share prices prior to turnover are not. A corollary is that a firm with poor stock market performance cannot, or will not, raise new capital unless the current CEO is replaced.

    Keywords: Performance; Management Teams; Equity;

    Citation:

    Baker, Malcolm, and Yuhai Xuan. "Under New Management: Equity Issues and the Attribution of Past Returns." Journal of Financial Economics 121, no. 1 (July 2016): 66–78.  View Details
    CiteView DetailsFind at Harvard Read Now Related
  • Article | Journal of Financial Economics | March 2016

    The Cost of Friendship

    Paul A. Gompers, Vladimir Mukharlyamov and Yuhai Xuan

    We investigate how personal characteristics affect people's desire to collaborate and whether this attraction enhances or detracts from performance in venture capital. We find that venture capitalists who share the same ethnic, educational, or career background are more likely to syndicate with each other. This homophily reduces the probability of investment success, and the detrimental effect is most prominent for early-stage investments. A variety of tests show that the cost of affinity is most likely attributable to poor decision making by high-affinity syndicates after the investment is made. These results suggest that "birds-of-a-feather-flock-together" effects in collaboration can be costly.

    Keywords: Venture Capital; Partners and Partnerships; Entrepreneurship; Personal Characteristics;

    Citation:

    Gompers, Paul A., Vladimir Mukharlyamov, and Yuhai Xuan. "The Cost of Friendship." Journal of Financial Economics 119, no. 3 (March 2016): 626–644.  View Details
    CiteView DetailsFind at Harvard Read Now Related
  • Case | HBS Case Collection | June 2015

    Atlantic Grupa

    Keywords: Mergers & Acquisitions; Mergers and Acquisitions;

    Citation:

    Xuan, Yuhai, and Mato Njavro. "Atlantic Grupa." Harvard Business School Case 215-077, June 2015.  View Details
    CiteView DetailsEducatorsPurchase Related
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