Publications

November 2016 (Revised February 2017)
Case

Square, Inc. IPO

By: Ramana Nanda, Robert White and Lauren G. Pickle

In November 2015, Square, Inc. launched its initial public offering (IPO). The IPO had an offering price of $9 per share, lower than the $11 to $13 estimate that had been outlined in the preliminary prospectus and 42% below the $15.50 share price in its most recent... View Details

Keywords: Business Finance; Initial Public Offering; Equity; Capital Markets; Public Equity; Stocks; Venture Capital; Financial Services Industry; United States

A self-described “human Venn diagram” Christina Wallace has crafted a career at the intersection of business, technology, and the arts. She is a Senior Lecturer in the Entrepreneurial Management Unit at Harvard Business... View Details

2019
Working Paper

Who Drives Digital Innovation? Evidence from the U.S. Medical Device Industry

By: Cirrus Foroughi and Ariel Dora Stern

Does the large-scale technological change that is characteristic of an industry-wide digital transformation entrench industry leaders or enable the rise of new entrants? We offer a novel approach to this question by studying the medical device industry, a unique... View Details

Keywords: Innovation; Medical Devices; Digitization; Medical Technology; Technological Innovation; Applications and Software; Market Entry and Exit; Industry Growth; Medical Devices and Supplies Industry; United States

June 2011
Case

Steering Monetary Policy Through Unprecedented Crises

By: David Moss and Cole Bolton

In early April 2008, economic conditions in Europe appeared to be deteriorating on almost all fronts: sales figures were falling, business and consumer confidence were slumping, forecasts for European growth were being revised downward, and inflation was rising. In... View Details

Keywords: Forecasting and Prediction; Economic Slowdown and Stagnation; Financial Crisis; Inflation and Deflation; Financial Institutions; Interest Rates; Policy

October 2021
Article

Fintech Borrowers: Lax Screening or Cream-Skimming?

By: Marco Di Maggio and Vincent Yao

Personal credit is the fastest-growing segment of the consumer credit market, mainly driven by fintech lenders' staggering expansion. We study this market using a unique individual-level data, which covers most of the top fintech and traditional lenders, and provides... View Details

Keywords: Fintech; Lending; Consumer Finance; Credit History; Self-control; Present Bias; Financing and Loans; Personal Finance; Credit; Behavior

February 2020 (Revised June 2020)
Case

From Cradle to Heaven: Taikang Insurance Group

By: William C. Kirby, Shu Lin, John P. McHugh and Yuanzhuo Wang

Taikang Insurance Group was a leading Chinese insurance and financial services institution. It operated in the insurance, asset management, and health and senior care industries. Due to China’s underdeveloped social welfare state, Taikang saw an opportunity for the... View Details

Keywords: Health; Insurance; Strategy; Insurance Industry; China

October 2002 (Revised November 2002)
Case

Welfare State and its Impact on Business Competitiveness, The: Sweden Inc. for Sale?

By: Huw Pill, Petter Johnsson, Ola Nordquist and Ingrid Vogel

The Swedish Model--sometimes presented as a third way between savage capitalism and unrealistic socialism--was much lauded in the 1960s. It was viewed as a strategy that addressed social concerns while supporting economic growth. However, the financial and currency... View Details

Keywords: Economic Systems; Welfare; Government and Politics; Taxation; Competition; Public Administration Industry; Sweden

14 Nov 2007
First Look

First Look: November 14, 2007

protection that investors need for financial markets to develop? This paper contributes to the literature that studies the connection between law and finance by looking at the relationship between legal... View Details

Keywords: Martha Lagace

June 2024
Supplement

Zeswitz Music (A)

By: Richard S. Ruback and Royce Yudkoff

Pre-Abstract: Instructors should consider the timing of making videos available to students, as they may reveal key case details.
Abstract: In July of 2013, Randy Shayler (HBS, 2012) acquired Zeswitz Music, a musical instrument rental company based in Reading,... View Details

Keywords: Customer Focus and Relationships; Business Strategy; Acquisition; Revenue; Marketing; Music Industry; Retail Industry; Pennsylvania

2010
Working Paper

Foreign Entry and the Mexican Banking System, 1997-2007

By: Stephen Haber and Aldo Musacchio

What is the impact of foreign bank entry on the pricing and availability of credit in developing economies? The Mexican banking system provides a quasi-experiment to address this question because in 1997 the Mexican government radically changed the laws governing the... View Details

Keywords: Developing Countries and Economies; Credit; Banks and Banking; Financing and Loans; Foreign Direct Investment; Market Entry and Exit; Business and Government Relations; Banking Industry; Mexico

2012
Working Paper

When Do User Innovators Start Firms? A Theory of User Entrepreneurship

A rich and distinguished body of research has documented the importance of user innovations. For the most part, this literature has found that users innovate but do not commercialize their innovations. Instead, users benefit from using their innovations and allow... View Details

Keywords: Customers; Commercialization; Emerging Markets; Entrepreneurship; Innovation and Invention

2021
Working Paper

The Business of K-12 Education in China

By: Geoffrey Jones and Yuhai Wu

This working paper examines the evolution of K-12 education in China, especially between 1985 and the present day, drawing extensive interviews with participants in the educational sector. China has been hugely successful in reaching almost 100 percent literacy,... View Details

Keywords: K-12 Education; China; Real Estate; Early Childhood Education; Performance Evaluation; Teaching; Governing Rules, Regulations, and Reforms; Personal Development and Career; Social Issues; Nonprofit Organizations; Private Sector; Education Industry; Real Estate Industry; China

October 1990 (Revised March 1993)
Background Note

Note on Cable Television Regulation

By: Willis M. Emmons III

Examines the evolution of the U.S. cable television industry since its inception in the early 1950s. Particular emphasis is given to the roles played by technology, consumer demand, and regulation at both the local and federal level. Designed to facilitate a conceptual... View Details

Keywords: Information Technology; Demand and Consumers; Government Legislation; Business Growth and Maturation; Monopoly; Television Entertainment; Telecommunications Industry; Media and Broadcasting Industry

Find at Harvard

October 2020 (Revised July 2023)
Case

UCK Partners: Gong Cha

By: Victoria Ivashina and Sangyun Lee

In the Spring of 2017, Soomin Kim, Founding Partner of UCK Partners, and his team were debating the potential exit of UCK Partner’s investment in Gong Cha Korea, the sole local franchisor of the premium milk tea brand that they proprietarily sourced three years ago.... View Details

Keywords: Exit; Strategic Decision Making; Private Equity; Investment; Strategy; Investment Return; Decision Making; Bids and Bidding

2009
Other Unpublished Work

Steering Monetary Policy Through Unprecedented Crises

By: David Moss and Cole Bolton

In early April 2008, economic conditions in Europe appeared to be deteriorating on almost all fronts: sales figures were falling, business and consumer confidence were slumping, forecasts for European growth were being revised downward, and inflation was rising. In... View Details

Keywords: Financial Crisis; Inflation and Deflation; Central Banking; Interest Rates; International Finance; Policy; Crisis Management; Europe