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- All HBS Web
(2,421)
- Faculty Publications (565)
- January 2017 (Revised October 2018)
- Case
Novartis: A Transformative Deal
By: David Collis and Ashley Hartman
When Joe Jimenez became CEO of Swiss-based Novartis in 2010, replacing longtime CEO Dan Vasella, he assumed control of one of the top pharmaceutical companies in the world. Vasella, an avowed advocate of diversification, had expanded the scope of the company and... View Details
Keywords: Novartis; GlaxoSmithKline; Asset Swap; Acquisitions; Divestiture; Strategy Alignment; Pharmaceuticals; Strategy; Business Strategy; Corporate Strategy; Diversification; Consolidation; Mergers and Acquisitions; Pharmaceutical Industry
Collis, David, and Ashley Hartman. "Novartis: A Transformative Deal." Harvard Business School Case 717-453, January 2017. (Revised October 2018.)
- January 2017
- Article
Being Surprised by the Unsurprising: Earnings Seasonality and Stock Returns
By: Tom Y. Chang, Samuel M. Hartzmark, David H. Solomon and Eugene F. Soltes
We present evidence consistent with markets failing to properly price information in seasonal earnings patterns. Firms with historically larger earnings in one quarter of the year (“positive seasonality quarters”) have higher returns when those earnings are usually... View Details
Chang, Tom Y., Samuel M. Hartzmark, David H. Solomon, and Eugene F. Soltes. "Being Surprised by the Unsurprising: Earnings Seasonality and Stock Returns." Review of Financial Studies 30, no. 1 (January 2017): 281–323.
- Article
No Unique Effect of Intergroup Competition on Cooperation: Non-competitive Thresholds Are as Effective as Competitions between Groups for Increasing Human Cooperative Behavior
By: Matthew R. Jordan, Jillian J. Jordan and David G. Rand
Explaining cooperation remains a central topic for evolutionary theorists. Many have argued that group selection provides such an explanation: theoretical models show that intergroup competition could have given rise to cooperation that is costly for the individual.... View Details
Keywords: Intergroup Competition; Threshold Public Goods Game; Multi-level Selection; Cooperation; Groups and Teams; Competition
Jordan, Matthew R., Jillian J. Jordan, and David G. Rand. "No Unique Effect of Intergroup Competition on Cooperation: Non-competitive Thresholds Are as Effective as Competitions between Groups for Increasing Human Cooperative Behavior." Evolution and Human Behavior 38, no. 1 (January 2017): 102–108.
- December 2016 (Revised March 2017)
- Case
Beingmate
By: David E. Bell, Juan Ma and Natalie Kindred
Founded in 2002, Hangzhou, China–based Beingmate was a major producer of infant formula and related products in the high-demand Chinese market. After an infamous 2008 food safety episode in China, in which toxic infant formula sickened thousands of babies and led to... View Details
Keywords: Marketing Strategy; Competitive Strategy; Partners and Partnerships; Food and Beverage Industry; China
Bell, David E., Juan Ma, and Natalie Kindred. "Beingmate." Harvard Business School Case 517-050, December 2016. (Revised March 2017.)
- 2016
- Working Paper
Foreign Competition and Domestic Innovation: Evidence from U.S. Patents
By: David Autor, David Dorn, Gordon H. Hanson, Pian Shu and Gary Pisano
Manufacturing is the locus of U.S. innovation, accounting for more than three quarters of U.S. corporate patents. The rise of import competition from China has represented a major competitive shock to the sector, which in theory could benefit or stifle innovation. In... View Details
Keywords: Patents; Competition; System Shocks; Trade; Innovation and Invention; Manufacturing Industry; China; United States
Autor, David, David Dorn, Gordon H. Hanson, Pian Shu, and Gary Pisano. "Foreign Competition and Domestic Innovation: Evidence from U.S. Patents." NBER Working Paper Series, No. 22879, December 2016.
- December 2016
- Article
The Effects of Endowment Size and Strategy Method on Third Party Punishment
By: Jillian J. Jordan, Katherine McAuliffe and David G. Rand
Numerous experiments have shown that people often engage in third-party punishment (3PP) of selfish behavior. This evidence has been used to argue that people respond to selfishness with anger, and get utility from punishing those who mistreat others. Elements of the... View Details
Keywords: Third-party Punishment; Norm-enforcement; Strategy Method; Economic Games; Cooperation; Emotions; Fairness
Jordan, Jillian J., Katherine McAuliffe, and David G. Rand. "The Effects of Endowment Size and Strategy Method on Third Party Punishment." Experimental Economics 19, no. 4 (December 2016): 741–763.
- November 2016 (Revised July 2019)
- Case
Lenovo to Buy IBM PC: Integration Challenges
By: David G. Fubini and Christine Snively
In December 2004, Chinese computer manufacturer Lenovo announced its purchase of IBM’s PC division. At the time, few industry observers were optimistic about the merger of these entities with seemingly opposite company cultures. How should the two entities plan to... View Details
Keywords: Integration; Strategy; Organizational Culture; Computer Industry; Technology Industry; United States; China
Fubini, David G., and Christine Snively. "Lenovo to Buy IBM PC: Integration Challenges." Harvard Business School Case 417-042, November 2016. (Revised July 2019.)
- 2016
- Working Paper
Refugee Resettlement
By: David Delacretaz, Scott Duke Kominers and Alexander Teytelboym
Over 100,000 refugees are permanently resettled from refugee camps to hosting
countries every year. Nevertheless, refugee resettlement processes in most countries
are ad hoc, accounting for neither the priorities of hosting communities nor the preferences of refugees... View Details
Delacretaz, David, Scott Duke Kominers, and Alexander Teytelboym. "Refugee Resettlement." Working Paper, November 2016.
- September 2016 (Revised July 2017)
- Case
Transferring Knowledge Between Projects at NASA JPL (A)
By: Dorothy Leonard and Christopher Myers
The Jet Propulsion Laboratory, a federally funded research institution within NASA, the U.S. National Aeronautics and Space Administration, has played a large role in many space and planetary explorations, particularly to the planet Mars. As a project-based... View Details
Keywords: Knowledge Sharing; Knowledge Management; Employees; Experience and Expertise; Aerospace Industry; United States
Leonard, Dorothy, and Christopher Myers. "Transferring Knowledge Between Projects at NASA JPL (A)." Harvard Business School Case 917-404, September 2016. (Revised July 2017.)
- 2018
- Working Paper
Bank Risk-Taking and the Real Economy: Evidence from the Housing Boom and Its Aftermath
By: Antonio Falato, Giovanni Favara and David Scharfstein
We present evidence that pressure to maximize short-term stock prices and earnings leads banks to increase risk. We start by showing that banks increase risk when they transition from private to public ownership through a public listing or an acquisition. The increase... View Details
Falato, Antonio, Giovanni Favara, and David Scharfstein. "Bank Risk-Taking and the Real Economy: Evidence from the Housing Boom and Its Aftermath." Working Paper.
- 2016
- Working Paper
The Stock Market and Bank Risk-Taking
By: David S. Scharfstein and Antonio Falato
We argue that stock market pressure to generate earnings encourages banks to increase risk. We measure risk using confidential supervisory ratings as well as financial information released in regulatory filings. We document that there is an increase in the risk-taking... View Details
Keywords: Stock Market; Financial Markets; Business Earnings; Banks and Banking; Risk and Uncertainty
Scharfstein, David S., and Antonio Falato. "The Stock Market and Bank Risk-Taking." NBER Working Paper Series, No. 22689, September 2016.
- August 2, 2016
- Article
Uncalculating Cooperation Is Used to Signal Trustworthiness
By: Jillian J. Jordan, Moshe Hoffman, Martin A. Nowak and David G. Rand
Humans frequently cooperate without carefully weighing the costs and benefits. As a result, people may wind up cooperating when it is not worthwhile to do so. Why risk making costly mistakes? Here, we present experimental evidence that reputation concerns provide an... View Details
Keywords: Social Evaluation; Experimental Economics; Moral Psychology; Cooperation; Reputation; Decision Making
Jordan, Jillian J., Moshe Hoffman, Martin A. Nowak, and David G. Rand. "Uncalculating Cooperation Is Used to Signal Trustworthiness." Proceedings of the National Academy of Sciences 113, no. 31 (August 2, 2016): 8658–8663.
- June 2016 (Revised February 2017)
- Case
The Role of Real Estate in Endowment Portfolios: The Case of Christ Church, Oxford
By: David Chambers, Elroy Dimson, Arthur I Segel and Eva Steiner
The case centers on Christ Church's Treasurer, James Lawrie, who is contemplating his options for investing a portion of the College's endowment in real estate. Approximately 1/3 of the total $690 million endowment was allocated towards real estate, much higher than... View Details
Keywords: Real Estate; Endowment Management; Endowments; United Kingdom; Oxford; Portfolio Allocation; Higher Education; Investment Portfolio; Property; Corporate Finance; Financial Services Industry; United Kingdom
Chambers, David, Elroy Dimson, Arthur I Segel, and Eva Steiner. "The Role of Real Estate in Endowment Portfolios: The Case of Christ Church, Oxford." Harvard Business School Case 216-086, June 2016. (Revised February 2017.)
- June 2016
- Teaching Note
The Rawlinsons: Facing Life and Career Decisions as a Couple
By: Boris Groysberg and Robin Abrahams
David and Nadia Rawlinson are a dual-career power couple who both seek executive careers in large organizations. At the beginning of the case, Nadia has taken a new job in San Francisco, while David has been offered an opportunity in London. What are the risks of... View Details
- June 2016
- Supplement
Supply Chain Finance at Procter & Gamble Spreadsheet Supplement
By: Benjamin C. Esty, Scott Mayfield and David Lane
In April 2013, Procter & Gamble (P&G), the world’s largest consumer packaged goods (CPG) company, announced that it would extend its payment terms to suppliers by 30 days. At the same time, P&G announced a new supply chain financing (SCF) program giving suppliers the... View Details
Keywords: Working Capital; Supply Chain Finance; Corporate Treasury; Consumer Packaged Goods; Value Creation; Supply Chain; Supplier Relationships; Banking; Liquidity; Accounts Payable; Accrual Accounting; Financial Reporting; Cash Flow; Cost Management; Banks and Banking; Financial Strategy; Multinational Firms and Management; Supply Chain Management; United States; Brazil
- June 2016
- Article
Vaccination Rates Are Associated with Functional Proximity but Not Base Proximity of Vaccination Clinics
By: John Beshears, James J. Choi, David Laibson, Brigitte C. Madrian and Gwendolyn I. Reynolds
Background: Routine annual influenza vaccinations are recommended for persons 6 months of age and older, but less than half of U.S. adults get vaccinated. Many employers offer employees free influenza vaccinations at workplace clinics, but even then take-up is... View Details
Beshears, John, James J. Choi, David Laibson, Brigitte C. Madrian, and Gwendolyn I. Reynolds. "Vaccination Rates Are Associated with Functional Proximity but Not Base Proximity of Vaccination Clinics." Medical Care 54, no. 6 (June 2016): 578–583.
- May 2016 (Revised May 2017)
- Case
Supply Chain Finance at Procter & Gamble
By: Benjamin C. Esty, E. Scott Mayfield and David Lane
In April 2013, Procter & Gamble (P&G), the world’s largest consumer packaged goods (CPG) company, announced that it would extend its payment terms to suppliers by 30 days. At the same time, P&G announced a new supply chain financing (SCF) program giving suppliers the... View Details
Keywords: Working Capital; Supply Chain Finance; Corporate Treasury; Consumer Packaged Goods; Supply Chain; Supplier Relationships; Banking; Liquidity; Accounts Payable; Financial Reporting; Cash Flow; Cost Management; Banks and Banking; Financial Strategy; Multinational Firms and Management; Supply Chain Management; Accrual Accounting; Value Creation; Consumer Products Industry; Forest Products Industry; United States; Brazil
Esty, Benjamin C., E. Scott Mayfield, and David Lane. "Supply Chain Finance at Procter & Gamble." Harvard Business School Case 216-039, May 2016. (Revised May 2017.)
- March 2016 (Revised August 2018)
- Case
JPMorgan Chase after the Financial Crisis: What Is the Optimal Scope of the Largest Bank in the U.S.?
By: David Collis and Ashley Hartman
When Jamie Dimon took over as CEO of JPMorgan Chase & Co. (JPMorgan Chase) in 2005, he reaffirmed the commitment to pursue a "universal bank" strategy—providing a full range of products and services to both retail and wholesale clients. Yet the merits of the universal... View Details
Keywords: Scope; Regulatory Reforms; Universal Banking; Synergy; Optimization; Simplification; Finance; Strategy; Business Strategy; Financial Crisis; Consolidation; Corporate Strategy; Diversification; Governing Rules, Regulations, and Reforms; Banking Industry; Financial Services Industry
Collis, David, and Ashley Hartman. "JPMorgan Chase after the Financial Crisis: What Is the Optimal Scope of the Largest Bank in the U.S.?" Harvard Business School Case 716-448, March 2016. (Revised August 2018.)
- Article
Lean Strategy
By: David Collis
Strategy and entrepreneurship are often seen as polar opposites. Yet the two desperately need each other: strategy without entrepreneurship is central planning; entrepreneurship without strategy leads to chaos. The two approaches can be reconciled through the Lean... View Details
Collis, David. "Lean Strategy." Harvard Business Review 94, no. 3 (March 2016): 62–68.
- Article
Third-party Punishment as a Costly Signal of Trustworthiness
By: Jillian J. Jordan, Moshe Hoffman, Paul Bloom and David G. Rand
Third-party punishment (TPP), in which unaffected observers punish selfishness, promotes cooperation by deterring defection. But why should individuals choose to bear the costs of punishing? We present a game theoretic model of TPP as a costly signal of... View Details
Jordan, Jillian J., Moshe Hoffman, Paul Bloom, and David G. Rand. "Third-party Punishment as a Costly Signal of Trustworthiness." Nature 530, no. 7591 (2016): 473–476.