Publications

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20 Nov 2006
Research & Ideas

Open Source Science: A New Model for Innovation

that a lot and I think we're providing some systematic evidence now with this study," Lakhani says. He met recently with HBS Working Knowledge to discuss the work and its implications for firms. Martha Lagace: Given your research... View Details

Keywords: by Martha Lagace

June 2018
Article

Deviations from Covered Interest Rate Parity

By: Wenxin Du, Alexander Tepper and Adrien Verdelhan

We find that deviations from the covered interest rate parity (CIP) condition imply large, persistent, and systematic arbitrage opportunities in one of the largest asset markets in the world. Contrary to the common view, these deviations for major currencies are not... View Details

Keywords: Interest Rates; Financial Markets; Banks and Banking; Price

September 2016
Article

Monitoring Global Supply Chains

By: Jodi L. Short, Michael W. Toffel and Andrea R. Hugill

Firms seeking to avoid reputational spillovers that can arise from dangerous, illegal, and unethical behavior at supply chain factories are increasingly relying on private social auditors to provide strategic information about suppliers' conduct. But little is known... View Details

Keywords: Monitoring; Transaction Cost Economics; Industry Self-regulation; Auditing; Codes Of Conduct; Supply Chains; Corporate Social Responsibility; Corporate Social Responsibility and Impact; Supply Chain; Globalization

January 2011
Case

The Risk-Reward Framework at Morgan Stanley Research

By: Suraj Srinivasan and David Lane

The case describes the Risk-Reward framework that Morgan Stanley analysts use as a systematic approach to communicate a broader range of fundamental insights about a company rather than the traditional single point estimates. The goal of the framework is to focus the... View Details

Keywords: Financial Statements; Forecasting and Prediction; Equity; Framework; Management Analysis, Tools, and Techniques; Risk Management; Business Processes; Research; Valuation

Educators

10 Feb 2009
First Look

First Look: February 10, 2009

Working PapersInflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds Authors:John Y. Campbell, Adi Sunderam, and Luis M. Viceira Abstract The covariance between U.S. Treasury bond returns and stock returns has moved... View Details

Keywords: Martha Lagace

2015
Working Paper

Measurement Errors of Expected-Return Proxies and the Implied Cost of Capital

By: Charles C.Y. Wang

Despite their popularity as proxies of expected returns, the implied cost of capital's (ICC) measurement error properties are relatively unknown. Through an in-depth analysis of a popular implementation of ICCs by Gebhardt, Lee, and Swaminathan (2001) (GLS), I show... View Details

Keywords: Measurement and Metrics; Cost of Capital; Investment Return

SSRN

19 Aug 2021
Op-Ed

Don't Ignore Your Employees' Misery—TAKE Control

embracing—this shift. Many are using systematic approaches to gather employee insights and turn them into tailored workplace cultures and policies. These efforts usually culminate in a strong talent management strategy, with a deliberate... View Details

Keywords: by Hise O. Gibson and MaShon Wilson

October 2003 (Revised January 2004)
Exercise

Electric Maze Exercise, The

By: Amy C. Edmondson and Hanna Rodriguez-Farrar

This team-based exercise uses an educational tool called "The Electric Maze," developed by Interel Corp., to teach insights about the social and psychological challenges facing employees who must engage in collaborative learning. The tool is a grid-patterned rug with... View Details

Keywords: Change Management; Leadership; Learning; Groups and Teams; Risk and Uncertainty

Article

Investor Sentiment in the Stock Market

By: Malcolm Baker and Jeffrey Wurgler

We examine how investor sentiment affects the cross-section of stock returns. Theory predicts that a broad wave of sentiment will disproportionately affect stocks whose valuations are highly subjective and are difficult to arbitrage. We test this prediction by... View Details

Keywords: Financial Markets; Stocks; Investment Return; Valuation; Forecasting and Prediction; Volatility; Price; Risk and Uncertainty; Behavioral Finance

March–April 2017
Article

Advancing Conservation by Understanding and Influencing Human Behavior

By: Sheila M. Reddy, Jensen Montambault, Yuta J. Masuda, Ayelet Gneezy, Elizabeth Keenan, William Butler, Jonathan R. Fisher and Stanley T. Asah

Behavioral sciences can advance conservation by systematically identifying behavioral barriers to conservation and how to best overcome them. Behavioral sciences have informed policy in many other realms (e.g., health, savings), but they are a largely untapped resource... View Details

Keywords: Adaptive Management; Awareness; Behavioral Economics; Behavioral Science; Conservation Intervention; Conservation Planning; Decision-making; Incentives; Nudge; Management; Motivation and Incentives; Behavior; Marketing; Decision Making; Environmental Sustainability; Economics

Article

Reaching for Yield in the Bond Market

By: Bo Becker and Victoria Ivashina

Reaching for yield—the propensity to buy riskier assets in order to achieve higher yields—is believed to be an important factor contributing to the credit cycle. This paper analyzes this phenomenon in the corporate bond market. Specifically, we show evidence for... View Details

Keywords: Fixed Income; Reaching For Yield; Financial Intermediation; Insurance Companies; Insurance; Assets; Bonds; Investment Return; Investment Portfolio; Risk Management; Insurance Industry

SSRN

15 Jun 2012
Working Paper Summaries

Reaching for Yield in the Bond Market

Keywords: by Bo Becker & Victoria Ivashina

15 Nov 2007
Working Paper Summaries

The Dynamic Interplay of Inequality and Trust: An Experimental Study

Keywords: by Ben Greiner, Axel Ockenfels & Peter Werner

Article

The Economics of Structured Finance

By: Joshua D. Coval, Jakub W. Jurek and Erik Stafford

This paper investigates the spectacular rise and fall of structured finance. The essence of structured finance activities is the pooling of economic assets like loans, bonds, and mortgages, and the subsequent issuance of a prioritized capital structure of claims, known... View Details

Keywords: Financial Crisis; Asset Management; Debt Securities; Investment; Risk Management; Behavior

December 2013
Case

Bruce Allyn: Negotiating with the KGB (A)

By: James K. Sebenius

Isolated by the KGB in Moscow, Harvard graduate student Bruce Allyn faces high-pressure negotiation tactics to recruit him for the Soviet spy agency. At the tense height of the Cold War, with CIA agents systematically being exposed and executed in Russia, Allyn was... View Details

Keywords: Negotiation; Bargaining; Hard Bargaining; KGB; Espionage; Spying; War; National Security; Alliances; Ethics; Negotiation Tactics; Decision Choices and Conditions; Negotiation Participants; Negotiation Offer; Cambridge; Moscow; Soviet Union

Educators

2010
Working Paper

Dynamically Integrating Knowledge in Teams: Transforming Resources into Performance

By: Heidi K. Gardner, Francesca Gino and Bradley R. Staats

In knowledge-based environments, teams must develop a systematic approach to integrating knowledge resources throughout the course of projects in order to perform effectively. Yet, many teams fail to do so. Drawing on the resource-based view of the firm, we examine how... View Details

Keywords: Interpersonal Communication; Knowledge Sharing; Knowledge Use and Leverage; Performance Effectiveness; Quality; Groups and Teams; Risk and Uncertainty; Familiarity

19 May 2011
Research & Ideas

Empathy: The Brand Equity of Retail

increments. The hospital would not bend the rules, in spite of the patient's repeated plea: "She's not a visitor, she's my wife." The patient spent 8 of his last 16 days alive in the ICU, denied important time with his wife because of View Details

Keywords: by Carmen Nobel; Health

Article

Design and Testing of a Mobile Health Application Rating Tool

By: David Levine, Zo Co, Lisa Newmark, Alissa Groisser, A Jay Holmgren, Jennifer Haas and David Bates

Mobile health applications (“apps”) have rapidly proliferated, yet their ability to improve outcomes for patients remains unclear. A validated tool that addresses apps’ potentially important dimensions has not been available to patients and clinicians. The objective of... View Details

Keywords: Health; Mobile Technology; Design; Analysis

Article

Psychological Safety and Near Miss Events in Radiation Oncology

By: Palak Kundu, Olivia Jung, Kathy Rose, Chonlawan Khaothiemsang, Nzhde Agazaryan, Amy C. Edmondson, Michael L. Steinberg and Ann C. Raldow

Background: Near miss events, defined as harm averted due to chance, are learning opportunities in radiation oncology. Psychological safety is a feature of a learning environment characterized by interpersonal risk taking. We examine the effects of near miss type and... View Details