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  • 2019
  • Chapter

Coordination Frictions in Venture Capital Syndicates

By: Ramana Nanda and Matthew Rhodes-Kropf
An extensive literature on venture capital has studied asymmetric information and agency problems between investors and entrepreneurs, examining how separating entrepreneurs from the investor can create frictions that might inhibit the funding of good projects. It has... View Details
Keywords: Syndication; Frictions; Venture Capital; Networks; Entrepreneurship
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  • 2018
  • Working Paper

Coordination Frictions in Venture Capital Syndicates

By: Ramana Nanda and Matthew Rhodes-Kropf
An extensive literature on venture capital has studied asymmetric information and agency problems between investors and entrepreneurs, examining how separating entrepreneurs from the investor can create frictions that might inhibit the funding of good projects. It has... View Details
Keywords: Syndication; Venture Capital; Networks; Entrepreneurship
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  • March 2024
  • Teaching Note

Sonder Holdings Inc.: Using Technology to Solve Hospitality's Frictions

By: John A. Deighton and Leora Kornfeld
Teaching Note for HBS Case No. 922-039. Digital disruption is challenging the hospitality industry. Traditional hotels face competition from platforms, most visibly Airbnb but also the homeshare divisions of online travel agencies such as Expedia and Booking.com, that... View Details
Keywords: Digital Platforms; Disruptive Innovation; Competition; Market Participation; Accommodations Industry
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  • March 2014
  • Article

Information Environment and the Investment Decisions of Multinational Corporations

By: Nemit O. Shroff, Rodrigo S. Verdi and Gwen Yu
This paper examines how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries... View Details
Keywords: Capital Budgeting; Multinational Firms; Cross-border Frictions; Agency Frictions; Transparency; Financial Reporting Quality; Information Quality; Information; Multinational Firms and Management; Decision Choices and Conditions; Investment
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  • 2024
  • Working Paper

Do Information Frictions and Corruption Perceptions Kill Competition? A Field Experiment on Public Procurement in Uganda

By: Emanuele Colonnelli, Francesco Loiacono, Edwin Muhumuza and Edoardo Teso
We study whether information frictions and corruption perceptions deter firms from doing business with the government. We conduct two nationwide randomized controlled trials (RCTs) in collaboration with the national public procurement supervisory and anti-corruption... View Details
Keywords: Knowledge Use and Leverage; Government and Politics; Crime and Corruption; Trust; Perception; Business and Government Relations
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  • 2015
  • Working Paper

Collateral Shortages and Intermediation Networks

By: Marco Di Maggio and Alireza Tahbaz-Salehi
This paper argues that in the presence of trading frictions and agency problems, the interbank market may be overly fragile, in the sense that small changes in the liquidity of assets used as collateral may lead to large swings in haircuts and a potential credit... View Details
Keywords: Financial Intermediation; Financial Networks; Secured Lending; Collateral; Repo Runs; ABCP Collapse; Networks; Negotiation; Financing and Loans; Financial Crisis
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    Doing What the Parents Want?

    We examine how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries with... View Details

    • 05 Oct 2011
    • Working Paper Summaries

    Doing What the Parents Want? The Effect of the Local Information Environment on the Investment Decisions of Multinational Corporations

    Keywords: by Nemit O. Shroff, Rodrigo S. Verdi & Gwen Yu
    • 23 Apr 2024
    • In Practice

    Getting to Net Zero: The Climate Standards and Ecosystem the World Needs Now

    With each month clocking record-breaking temperatures across the planet, this Earth Day reflected the renewed urgency of regulators and businesses to find climate-change solutions. The US Securities and Exchange Commission recently adopted new rules that will mandate... View Details
    Keywords: by Rachel Layne
    • 06 Jun 2017
    • First Look

    First Look at New Research and Ideas: June 6, 2017

    index-based benchmarks do not adequately achieve this objective. Further, the index-benchmark selection is associated with governance-related frictions and is not driven by plausible alternative theories. Both structural calibration and... View Details
    Keywords: Sean Silverthorne
    • 01 Mar 2024
    • News

    Alumni and Faculty Books and Podcasts

    pervasive and least-understood fail point that threatens to kneecap even the best-laid scaling plan: organizational friction. Bier reveals why organizational frictions take hold as you grow and how they slow your company down. These... View Details
    Keywords: Publishing Industries (except Internet); Information
    • Web

    Finance Awards & Honors - Faculty & Research

    Award from the Center for Financial Frictions (FRIC) and the Department of Finance at Copenhagen Business School. Luis M. Viceira : First Arthur Warga Award for the Best Paper in Fixed Income from The Society for Financial Studies, 2014... View Details
    • 22 Jan 2019
    • First Look

    New Research and Ideas, January 22, 2019

    to strategically delay providing the service. Coordination Frictions in Venture Capital Syndicates By: Nanda, Ramana, and Matthew Rhodes-Kropf Abstract— An extensive literature on venture capital has studied asymmetric information and... View Details
    Keywords: Dina Gerdeman
    • 25 Apr 2017
    • First Look

    First Look at New Research, April 25

    https://www.hbs.edu/faculty/Pages/item.aspx?num=52552 Coordination Frictions in Venture Capital Syndicates By: Nanda, Ramana, and Matthew Rhodes-Kropf Abstract—An extensive literature on venture capital has studied asymmetric information... View Details
    Keywords: Sean Silverthorne
    • 12 Feb 2019
    • First Look

    New Research and Ideas, February 12, 2019

    stemming from the idea that unexpected outcomes heighten the desire to sense-make, Study 4 shows that when bad news is unexpected, messenger dislike is pronounced. Finally, consistent with the notion that people fulfill the desire to sense-make by attributing View Details
    Keywords: Dina Gerdeman
    • 28 Aug 2012
    • First Look

    First Look: August 28

    or 'institutional voids' on the value of corporate diversification. Specifically, we explore whether the presence of frictions in a country's capital markets, labor markets, and product markets, affect the excess value of diversified... View Details
    Keywords: Sean Silverthorne
    • 17 Mar 2009
    • First Look

    First Look: March 17, 2009

    Business School Case 709-025  In 1987, President Ronald Reagan established the President's Commission on Privatization to identify federal government functions that could be shifted to the private sector. One agency that the Commission... View Details
    Keywords: Martha Lagace
    • 30 Mar 2010
    • First Look

    First Look: March 30

    GordonHarvard Business School Case 810-066 In May 2007, Amgen Inc. (Amgen) received disappointing news from the European Medicines Agency (EMEA) that its drug Vectibix, developed to fight metastatic colorectal cancer, had been rejected.... View Details
    Keywords: Sean Silverthorne
    • 10 Jun 2014
    • First Look

    First Look: June 10

      Publications August 2013 pub Cannibalization and Option Value Effects of Secondary Markets: Evidence from the U.S. Concert Industry By: Bennett, Victor Manuel, Robert Seamans, and Feng Zhu Abstract—We examine how reducing search View Details
    Keywords: Sean Silverthorne
    • 03 Apr 2019
    • Book

    Fintech's Game-Changing Opportunities for Small Business

    United States economy, and how innovation in financial services will reduce the friction and barriers in small-business lending, helping more of them thrive. In our Q&A, Mills, who served as a member of the Obama Cabinet and headed... View Details
    Keywords: by Martha Lagace; Banking; Financial Services