Finance

- September 2023
- Case
Cost of Capital at DraftKings

By: Malcolm Baker, Sebastian Hillenbrand and James Barnett
- September 2023
- Case
Cost of Capital at DraftKings

By: Malcolm Baker, Sebastian Hillenbrand and James Barnett
- September 2023
- Case
Honest Jobs: A Path to Redemption

By: Paul A. Gompers and Jeffrey Barkas

Founded by a formerly incarcerated job seeker, Honest Jobs' mission is to be the hub where people with criminal records come to build careers and employers come to find great talent. Honest Jobs faced early challenges as a two-sided platform for justice-involved job seekers and employers, but by 2022, the organization had partnered with 1,200+ employers and supported 40,000+ job seekers who were reintegrating with society. As 2023 approached, founder and CEO Harley Blakeman looked to raise a Series A round to supplement the $3M+ that had been raised in prior rounds. The decision Blakeman faced was whether to pursue impact-oriented VC firms or traditional firms and how much money to raise given hiring needs and expansion plans.
- September 2023
- Case
Honest Jobs: A Path to Redemption

By: Paul A. Gompers and Jeffrey Barkas

Founded by a formerly incarcerated job seeker, Honest Jobs' mission is to be the hub where people with criminal records come to build careers and employers come to find great talent. Honest Jobs faced early challenges as a two-sided platform for justice-involved job seekers and employers, but by 2022, the organization had partnered with 1,200+...
- September 2023
- Case
Diamond Standard

By: Lauren H. Cohen, Zhaoheng Gong and Grace Headinger

Cormac Kinney, Founder and CEO of Diamond Standard, was on a mission to transform the U.S. diamond market through unlocking the precious gems as market-traded assets. As a serial FinTech entrepreneur, he hoped to add an additional service to his vault: Carats. The commodity currency would be backed by a fungible resource, being the first in its field to have a physical-digital combination. Following the recent crypto-market crash, Kinney wondered if this was the right opportunity to launch his product. Although Kinney saw Carats as the best of both gold and other decentralized currencies, his advisors were wary of the potential regulatory risks that could ensue, in addition to the current dreary landscape of the crypto-market. Should Diamond Standard pursue Kinney’s vision of Carats, or focus its limited resources on other diamond-backed financial products?
- September 2023
- Case
Diamond Standard

By: Lauren H. Cohen, Zhaoheng Gong and Grace Headinger

Cormac Kinney, Founder and CEO of Diamond Standard, was on a mission to transform the U.S. diamond market through unlocking the precious gems as market-traded assets. As a serial FinTech entrepreneur, he hoped to add an additional service to his vault: Carats. The commodity currency would be backed by a fungible resource, being the first in its...

About the Unit

Our strategy is to assemble and nurture a faculty whose interests and skills complement each other, and who work well together:

a) to produce a broad range of finance-related research that is published in top-tier scientific and practitioner journals, and that addresses issues of present and future importance to managers (including regulators and policy makers);

b) to develop highly-relevant and intellectually rigorous MBA and executive education courses; and

c) to mentor future academics through the Business Economics doctoral program.

Our applied focus and access to business organizations are major advantages which are reinforced by our students and our case-based approach. We have a faculty with broad expertise, and we have resources, field contacts, and institutional support, all of which we can leverage to do richer work and be more productive than we could at other institutions.

Recent Publications

Cost of Capital at DraftKings

By: Malcolm Baker

September 2023 |
Supplement |
Faculty Research

Citation

Cost of Capital at DraftKings

By: Malcolm Baker, Sebastian Hillenbrand and James Barnett

September 2023 |
Case |
Faculty Research

Citation

Educators

Honest Jobs: A Path to Redemption

By: Paul A. Gompers and Jeffrey Barkas

September 2023 |
Case |
Faculty Research

Founded by a formerly incarcerated job seeker, Honest Jobs' mission is to be the hub where people with criminal records come to build careers and employers come to find great talent. Honest Jobs faced early challenges as a two-sided platform for justice-involved job seekers and employers, but by 2022, the organization had partnered with 1,200+ employers and supported 40,000+ job seekers who were reintegrating with society. As 2023 approached, founder and CEO Harley Blakeman looked to raise a Series A round to supplement the $3M+ that had been raised in prior rounds. The decision Blakeman faced was whether to pursue impact-oriented VC firms or traditional firms and how much money to raise given hiring needs and expansion plans.

Keywords: Business Startups; Venture Capital; Recruitment; Employment Industry; United States; Colorado; Ohio; Texas

Citation

Educators

Diamond Standard

By: Lauren H. Cohen, Zhaoheng Gong and Grace Headinger

September 2023 |
Case |
Faculty Research

Cormac Kinney, Founder and CEO of Diamond Standard, was on a mission to transform the U.S. diamond market through unlocking the precious gems as market-traded assets. As a serial FinTech entrepreneur, he hoped to add an additional service to his vault: Carats. The commodity currency would be backed by a fungible resource, being the first in its field to have a physical-digital combination. Following the recent crypto-market crash, Kinney wondered if this was the right opportunity to launch his product. Although Kinney saw Carats as the best of both gold and other decentralized currencies, his advisors were wary of the potential regulatory risks that could ensue, in addition to the current dreary landscape of the crypto-market. Should Diamond Standard pursue Kinney’s vision of Carats, or focus its limited resources on other diamond-backed financial products?

Citation

Educators

Raya Partners: Profitability and Purpose

By: Arthur Segel and Ephraim Mernick

August 2023 |
Case |
Faculty Research

Raya Partners, a private equity firm, faces a crucial decision regarding Asa Specialty Coatings Company (ASCC). The dilemma involves shifting ASCC's manufacturing operations to Mexico, a move that would boost profitability and reduce emissions but result in significant layoffs in Vermont, impacting employees and the local community. Adrienne, Raya Partners' Chief Investment Officer, grapples with balancing financial gains, social responsibilities, and environmental considerations. The decision also tests Raya Partners' commitment to its ESG policy. Adrienne must devise a transparent communication strategy, explore fair severance packages, and consider ways to alleviate the financial burden. Ultimately, the choice made will define Raya Partners' values and shape ASCC's future.

Citation

Educators

Viking Global Investors: Public Heritage, Private Opportunities

By: Luis M. Viceira, Ryan Gilland, Ashutosh Panchang and Tanner Crouch

August 2023 |
Case |
Faculty Research

Citation

Educators

Purchase

Italy at a Crossroads

By: Sophus A. Reinert, Dante Roscini and Arthur I. Segel

August 2023 |
Case |
Faculty Research

Citation

Educators

Targeting, Personalization, and Engagement in an Agricultural Advisory Service

By: Susan Athey, Shawn Cole, Shanjukta Nath and Jessica Zhu

2023 |
Working Paper |
Faculty Research

ICT is increasingly used to deliver customized information in developing countries. We examine whether individually targeting the timing of automated voice calls meaningfully increases engagement in an agricultural advisory service. We define, estimate, and evaluate a novel recommendation system that customizes contact times to individual characteristics. This system generates significant gains, up to an 8% increase over the baseline pickup rate of 0.31. Our approach, delivered at scale, is well-suited for developing country settings. We show how to optimize around resource constraints, measure equity-efficiency trade-offs when targeting vulnerable groups, and evaluate the robustness of recommendations to technology or preference shocks.

Keywords: Developing Countries and Economies; Knowledge Dissemination; Customization and Personalization; Performance Effectiveness

Citation

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