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- All HBS Web
(973)
- People (2)
- News (264)
- Research (653)
- Multimedia (1)
- Faculty Publications (146)
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- 2016
- Working Paper
Controlling Versus Enabling
By: Andrei Hagiu and Julian Wright
Revenue sharing between principals and agents is commonly used to balance double-sided moral hazard. We provide a theory of how, when such revenue-sharing is optimal, a principal allocates control rights over decisions that either party could make. We show that the... View Details
Keywords: Control Rights; Decision Authority; Employment; Independent Contractors; Organizational Theory; Digital Platforms; Governance Controls; Ethics; Vertical Integration
Hagiu, Andrei, and Julian Wright. "Controlling Versus Enabling." Harvard Business School Working Paper, No. 16-002, July 2015. (Revised July 2016.)
- February 2009 (Revised June 2010)
- Background Note
Note on Measuring Controlling Shareholder's Ownership, Voting, and Control Rights
Founders and their families can raise equity without relinquishing control of their companies through the use of mechanisms such as dual-class stock, pyramidal ownership, voting agreements, and disproportionate board representation. The use of these mechanisms in... View Details
Keywords: Equity; Corporate Governance; Governing and Advisory Boards; Measurement and Metrics; Ownership Stake; Business and Shareholder Relations; Valuation
Villalonga, Belen. "Note on Measuring Controlling Shareholder's Ownership, Voting, and Control Rights." Harvard Business School Background Note 209-109, February 2009. (Revised June 2010.)
- 2006
- Other Unpublished Work
Does Banks' Corporate Control Benefit Firms? Evidence from US Banks' Control over Firms' Voting Rights
By: Joao A.C. Santos and Kristin Wilson
In this paper we examine the importance of banks' corporate control over their borrowers by investigating the loan pricing effect of banks' voting stakes in borrowers. We exploit the fact that banks may hold shares of firms in a fiduciary capacity to identify a clean... View Details
Santos, Joao A.C., and Kristin Wilson. "Does Banks' Corporate Control Benefit Firms? Evidence from US Banks' Control over Firms' Voting Rights." American Finance Association, 2006.
- September 2016
- Article
Disproportional Control Rights and the Bonding Role of Debt
By: Aiyesha Dey, Valeri Nikolaev and Xue Wang
We examine the governance role of debt in the context of U.S.-based dual class ownership structures. We hypothesize that the use of debt alleviates the conflict between shareholder classes by balancing the power of controlling insiders. We document that dual class... View Details
Keywords: Dual Class; Private Debt; Debt Covenants; Bonding Mechanisms; Ownership Type; Capital Structure; Borrowing and Debt
Dey, Aiyesha, Valeri Nikolaev, and Xue Wang. "Disproportional Control Rights and the Bonding Role of Debt." Management Science 62, no. 9 (September 2016): 2581–2614.
- summer 2003
- Article
Ownership and Control Rights in Internet Portal Alliances, 1995-1999
By: Daniel W. Elfenbein and Josh Lerner
Elfenbein, Daniel W., and Josh Lerner. "Ownership and Control Rights in Internet Portal Alliances, 1995-1999." RAND Journal of Economics 34, no. 2 (summer 2003).
- Article
Are Private Equity Investors Looking for Control in Latin America?: Evidence from Twenty-five Countries from 2001 to 2008
By: Roberto Charvel
This article reviews how private equity investments approach controlling stakes in their portfolio companies through Latin America. View Details
Keywords: Venture Capital; Private Equity; Control Rights; Entrepreneurial Finance; Emerging Market; Business Ventures; Economics; Entrepreneurship; Finance; Financial Services Industry; Latin America
Charvel, Roberto. "Are Private Equity Investors Looking for Control in Latin America? Evidence from Twenty-five Countries from 2001 to 2008." Venture Equity Latin America 8, no. 17 (October 31, 2009).
- March 2014
- Article
Choosing the Right Customer
By: Robert Simons
Companies that win in competitive markets identify a primary customer and dedicate maximum resources to meeting that customer's needs. This article will show you how to identify the best primary customer for your business by analyzing perspective, capabilities, and... View Details
Keywords: Strategy Execution; Customer Focus; Organization Design; Accountability; Management Control Systems; Customer Relationship Management; Organizational Design
Simons, Robert. "Choosing the Right Customer." Harvard Business Review 92, no. 3 (March 2014): 48–55.
- 21 Jul 2015
- Working Paper Summaries
Enabling Versus Controlling
Keywords: by Andrei Hagiu & Julian Wright
- 31 Aug 2007
- Working Paper Summaries
Exclusivity and Control
- March 2018
- Supplement
China Vanke: Battle for Control (C)
By: Lynn S. Paine, Charles C.Y. Wang, Dawn H. Lau and Anthony K. Woo
Baoneng calls for the removal of China Vanke's board of directors, citing as reasons the directors' mishandling of the Shenzhen Metro proposal as well as the company's various breaches of corporate governance requirements. Vanke defends itself against Baoneng's... View Details
Keywords: China Vanke; China Resources; Hostile Takeover; Board Of Directors; Shareholding Structure; Shareholder Rights; Asset Restructuring; Corporate Governance; Governing and Advisory Boards; Valuation; Business and Shareholder Relations; Real Estate Industry; China
Paine, Lynn S., Charles C.Y. Wang, Dawn H. Lau, and Anthony K. Woo. "China Vanke: Battle for Control (C)." Harvard Business School Supplement 318-119, March 2018.
- March 2018
- Supplement
China Vanke: Battle for Control (B)
By: Lynn S. Paine, Charles C.Y. Wang, Dawn H. Lau and Anthony K. Woo
China Resources expresses disagreement over the validity of the results of the board vote as announced by China Vanke. It further raises objections to Vanke's handling of the announcement as well as reiterates its doubts about the strategic rationale of the proposed... View Details
Keywords: China Vanke; China Resources; Hostile Takeover; Board Of Directors; Shareholding Structure; Shareholder Rights; Asset Restructuring; Corporate Governance; Governing and Advisory Boards; Valuation; Business and Shareholder Relations; Real Estate Industry; China
Paine, Lynn S., Charles C.Y. Wang, Dawn H. Lau, and Anthony K. Woo. "China Vanke: Battle for Control (B)." Harvard Business School Supplement 318-118, March 2018.
- Research Summary
When Should Control Be Shared?
The right to participate in control is one of the primary instruments for protecting
stakeholder interests in a firm. A basic question is how control should be allocated
across a firm's various stakeholders, including investors, employees, customers, and
suppliers.... View Details
- March 2018 (Revised January 2021)
- Case
China Vanke: Battle for Control (A)
By: Lynn S. Paine, Charles C.Y. Wang, Dawn H. Lau and Anthony K. Woo
In June 2016, the board of China Vanke, one of China’s largest and best-known private residential real estate developers, must vote on a proposed acquisition that is opposed by its largest shareholders, state-owned China Resources Co. and the lesser-known property... View Details
Keywords: China Vanke; China Resources; Hostile Takeover; Board Of Directors; Shareholding Structure; Shareholder Rights; Asset Restructuring; Corporate Governance; Governing and Advisory Boards; Valuation; Business and Shareholder Relations; Real Estate Industry; China
Paine, Lynn S., Charles C.Y. Wang, Dawn H. Lau, and Anthony K. Woo. "China Vanke: Battle for Control (A)." Harvard Business School Case 318-117, March 2018. (Revised January 2021.)
- 11 Apr 2024
- News
Mission Control
arrived, Platzer knew. The time to make good on his mission was now. After a bit more research, Platzer left Wall Street and set out to build Spire. DM: Talk about how that mission statement finally culminated in the founding of your company. PP: So, I then felt, okay,... View Details
- Article
Disagreement and the Allocation of Control
This article studies the allocation of control when there is disagreement—in the sense of differing priors—about the right course of action. People then value control rights since they believe that their decisions are better than those of others. More disagreement (due... View Details
Van den Steen, Eric J. "Disagreement and the Allocation of Control." Journal of Law, Economics & Organization 26, no. 2 (August 2010): 385–426. (Advance Access published online on December 3, 2008.)
- 31 Mar 2020
- Cold Call Podcast
Controlling the Emotion of Negotiation
- June 2012
- Article
The Transparency Paradox: A Role for Privacy in Organizational Learning and Operational Control
Using data from embedded participant-observers and a field experiment at the second largest mobile phone factory in the world, located in China, I theorize and test the implications of transparent organizational design on workers' productivity and organizational... View Details
Keywords: Transparency; Privacy; Organizational Learning; Operational Control; Organizational Performance; Chinese Manufacturing; Field Experiment; Rights; Interpersonal Communication; Management Practices and Processes; Ethics; Corporate Disclosure; Performance Productivity; Boundaries; Organizations; Social and Collaborative Networks; Labor and Management Relations; Power and Influence; Manufacturing Industry; China
Bernstein, Ethan S. "The Transparency Paradox: A Role for Privacy in Organizational Learning and Operational Control." Administrative Science Quarterly 57, no. 2 (June 2012): 181–216.
- November 2007 (Revised April 2022)
- Case
Control Data Corporation and the Urban Crisis
By: Tom Nicholas and Laura Gaie Singleton
Control Data Corporation is considering its response to the assassination of renowned civil rights activist Martin Luther King. Four months prior, William Norris, president of the Minneapolis-based computer firm had already committed to building a plant in a low-income... View Details
Keywords: Urban Development; Factories, Labs, and Plants; Corporate Social Responsibility and Impact; Urban Scope; Computer Industry; District of Columbia; Minneapolis
Nicholas, Tom, and Laura Gaie Singleton. "Control Data Corporation and the Urban Crisis." Harvard Business School Case 808-096, November 2007. (Revised April 2022.)
- Article
Exclusivity, Contingent Control Rights, and the Design of Internet Portal Alliances
By: Josh Lerner and Dan Elfenbein
We explore the relationship between exclusivity and state-contingent control rights using a sample of over 100 Internet portal alliance contracts. We find that stronger exclusivity arrangements are associated with more frequent usage of contingent control rights. For... View Details
Lerner, Josh, and Dan Elfenbein. "Exclusivity, Contingent Control Rights, and the Design of Internet Portal Alliances." Journal of Law, Economics & Organization 28, no. 1 (April 2012): 45–76.