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• Working Paper | HBS Working Paper Series | 2020

  Two Case Studies on the Financing of Forest Conservation

  Andrew Baxter, Connor Cash, Josh Lerner and Ratnika Prasad

  A variety of factors is leading to fresh approaches to the ownership and management of forestland, with an emphasis on the combination of conservation goals and private investments. But the barriers to successfully achieving attractive financial returns and desirable social outcomes can be daunting. This working paper, which features two short case studies that examine the challenges and opportunities associated with forest conservation finance, explores these important issues.

  Keywords: financing; forestry;

  Citation:

  Baxter, Andrew, Connor Cash, Josh Lerner, and Ratnika Prasad. "Two Case Studies on the Financing of Forest Conservation." Harvard Business School Working Paper, No. 20-137, June 2020.  View Details

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• Working Paper | HBS Working Paper Series | 2020

  Venture Capital’s Role in Financing Innovation: What We Know and How Much We Still Need to Learn

  Josh Lerner and Ramana Nanda

  Venture capital is associated with some of the most high-growth and influential firms in the world. Academics and practitioners have effectively articulated the strengths of the venture model. At the same time, venture capital financing also has real limitations in its ability to advance substantial technological change. Three issues are particularly concerning to us: 1) the very narrow band of technological innovations that fit the requirements of institutional venture capital investors; 2) the relatively small number of venture capital investors who hold, and shape the direction of, a substantial fraction of capital that is deployed into financing radical technological change; and 3) the relaxation in recent years of the intense emphasis on corporate governance by venture capital firms. While our ability to assess the social welfare impact of venture capital remains nascent, we hope that this article will stimulate discussion of and research into these questions.

  Keywords: venture capital; financing; innovation;

  Citation:

  Lerner, Josh, and Ramana Nanda. "Venture Capital’s Role in Financing Innovation: What We Know and How Much We Still Need to Learn." Harvard Business School Working Paper, No. 20-031, June 2020.  View Details

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• Case | HBS Case Collection | March 2020 (Revised May 2020)

  Board Director Dilemmas—Digging into Detail

  David G. Fubini, Suraj Srinivasan and Amram Migdal

  This case explores a new board director who asks a detailed question about a footnote in the lengthy board packet distributed to directors by management. The case allows for discussion about the amount of information and level of detail provided by management, the level of preparation directors engage in prior to board meetings, and the appropriate strategic focus of the board. This case is part of a series of vignettes that capture different dilemmas faced by directors as they join boards of companies and understand the dynamics of the new boards that they join.

  Keywords: board of directors; Corporate Governance; Governing and Advisory Boards;

  Citation:

  Fubini, David G., Suraj Srinivasan, and Amram Migdal. "Board Director Dilemmas—Digging into Detail." Harvard Business School Case 120-100, March 2020. (Revised May 2020.)  View Details

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