Publications

Educators

Purchase

June 2002
Article

Market Triads: A Theoretical and Empirical Analysis of Market Intermediation

By: Rakesh Khurana

Keywords: Theory; Markets

Article

The Powerful Antitakeover Force of Staggered Boards: Theory, Evidence & Policy

By: Lucian Arye Bebchuk, John C. Coates IV and Guhan Subramanian

Keywords: Governance; Theory; Policy

2002
Book

Game Theory in the Tradition of Bob Wilson

By: Bengt Holmstrom, Paul Milgrom and Alvin E Roth

Keywords: Game Theory

spring 2002
Article

Business Leadership Coalitions and Public-Private Partnerships in American Cities: A Business Perspective on Regime Theory

By: James Austin and Arthur McCaffrey

Keywords: Leadership; Partners and Partnerships; Theory; Perspective; City; United States

March 2002 (Revised June 2002)
Case

EMCF: A New Approach at an Old Foundation

By: Allen S. Grossman and Daniel F. Curran

Michael Bailin, president of the Edna McConnell Clark Foundation (EMCF), embarked on a three-year effort to transform the foundation's grant-making in theory and practice. This case details his efforts to move from an "initiatives-based" approach in philanthropy to a... View Details

Keywords: Business Model; Philanthropy and Charitable Giving; Leadership; Management Practices and Processes; Performance Expectations; Non-Governmental Organizations; Cognition and Thinking; Customization and Personalization; Theory

Educators

Purchase

2001
Working Paper

Airbus vs. Boeing in Superjumbos: Credibility and Preemption

By: Benjamin C. Esty and Pankaj Ghemawat

In December 2000, Airbus formally committed to spend $12 billion to develop and launch a 555-seat superjumbo plane known as the A380. Prior to and after Airbus’ commitment, Boeing started and canceled several initiatives aimed at developing a “stretch jumbo” with... View Details

Keywords: Air Transportation; Product Development; Market Entry and Exit; Valuation; Game Theory

2002
Chapter

Future Possibilities in Finance Theory and Finance Practice

By: Robert C. Merton

Keywords: Finance; Mathematical Methods; Practice

2002
Other Unpublished Work

Market Liquidity as a Sentiment Indicator

By: Malcolm Baker and Jeremy Stein

We build a model that helps to explain why increases in liquidity—such as lower bid–ask spreads, a lower price impact of trade, or higher turnover—predict lower subsequent returns in both firm-level and aggregate data. The model features a class of irrational... View Details

Keywords: Price; Financial Liquidity; Trade; Valuation; Markets; Forecasting and Prediction; Equity; Stock Shares; Investment Return

February 2002
Article

Market Timing and Capital Structure

By: Malcolm Baker and Jeffrey Wurgler

It is well known that firms tend to raise equity when their market values are high relative to book and past market values. We document that the resulting effects on capital structure are very persistent. As a consequence, current capital structure is strongly related... View Details

Keywords: Valuation; Equity; Capital Structure; Theory; Market Timing; Financial Markets