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Publications

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  • 22 Jul 2014
  • News

Senate Panel Takes On Tax Inversions

  • 01 Aug 2014
  • News

How to Stop Corporate Inversions

  • 15 Aug 2014
  • News

Getting a handle on inversion

  • January 2017
  • Supplement

Medtronic: Making the Big Leap Forward (B)

By: William W. George and Monica Baraldi
On December 1, 2014, Medtronic announced that it had completed a $17 billion bond sale to finance the Covidien acquisition, officially completed on January 26, 2015. Medtronic’s legal headquarters moved to Ireland, while its operational headquarters remained in... View Details
Keywords: Acquisition; Medtronic; Covidien; Mission; Tax Inversion; Business Strategy; Leadership; Mergers and Acquisitions; Integration; Pharmaceutical Industry; Republic of Ireland; Europe; Minnesota; United States
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  • January 2017
  • Case

Medtronic: Making the Big Leap Forward (A)

By: William W. George and Monica Baraldi
In 2014, Medtronic was about to execute a $50 billion acquisition of Ireland-based Covidien. Medtronic CEO Omar Ishrak was committed to building the largest medical technology company in the world while broadening its ability to fulfill its mission of “alleviating... View Details
Keywords: Acquisition; Medtronic; Covidien; Mission; Tax Inversion; Business Strategy; Leadership; Mergers and Acquisitions; Pharmaceutical Industry; Republic of Ireland; Europe; Minnesota; United States
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  • 22 Aug 2014
  • News

The Conversation We Should Be Having About Corporate Taxes

  • 18 Jul 2005
  • Research & Ideas

Time to Rethink the Corporate Tax System?

inversions are often not greeted with a positive price reaction. In short, the view that tax avoidance is simply a net transfer of value from the state to shareholders is complicated by the agency problem... View Details
Keywords: by Ann Cullen
  • 22 Aug 2014
  • News

The Conversation We Should Be Having About Corporate Taxes

  • 19 Aug 2014
  • News

The Tax Dodge That Has Plagued the U.S. for More Than a Decade

  • 06 Apr 2016
  • News

Pfizer and Allergan call off their $160 billion merger after U.S. move to block inversions

  • 24 Jul 2014
  • Op-Ed

Reform Tax Law to Keep US Firms at Home

that increase the required size of a foreign target to ensure the tax benefits of an inversion can deter these transactions but can also lead to more substantive transactions. More substantive transactions... View Details
Keywords: by Mihir Desai; Pharmaceutical
  • January 2017
  • Case

The Six CEOs of Tyco International Ltd.

By: John R. Wells and Gabriel Ellsworth
In September 2016, Johnson Controls, Inc. completed the acquisition of Tyco International PLC, a $9.9 billion business with operating profits of $884 million. The purchase consideration was $14.4 billion. Although the deal was billed as a merger, Ireland-based Tyco... View Details
Keywords: Tyco; Dennis Kozlowski; Edward Breen; Fire Safety; Fire Protection; Security; Packaging; Securities And Exchange Commission; Fraud; Accounting; Accounting Audits; Earnings Management; Financial Statements; Goodwill Accounting; Acquisition; Mergers and Acquisitions; Business Conglomerates; Business Divisions; Business Exit or Shutdown; Business Growth and Maturation; Business Headquarters; Business Model; Business Organization; For-Profit Firms; Restructuring; Crime and Corruption; Engineering; Applied Optics; Chemicals; Construction; Metals and Minerals; Ethics; Finance; Cash Flow; Public Equity; Stock Options; Financing and Loans; Initial Public Offering; Profit; Revenue; Geographic Location; Geographic Scope; Global Range; Globalized Firms and Management; Multinational Firms and Management; Corporate Accountability; Corporate Disclosure; Health Care and Treatment; Business History; Executive Compensation; Selection and Staffing; Courts and Trials; Lawfulness; Lawsuits and Litigation; Business or Company Management; Goals and Objectives; Growth and Development Strategy; Market Entry and Exit; Public Ownership; Problems and Challenges; Strategy; Business Strategy; Competition; Competitive Strategy; Competitive Advantage; Consolidation; Corporate Strategy; Diversification; Expansion; Horizontal Integration; Value; Chemical Industry; Construction Industry; Consumer Products Industry; Electronics Industry; Energy Industry; Industrial Products Industry; Manufacturing Industry; Medical Devices and Supplies Industry; Mining Industry; Pharmaceutical Industry; Semiconductor Industry; Telecommunications Industry; Utilities Industry; Republic of Ireland; Switzerland; Bermuda; United States; New Hampshire
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  • 12 Jan 2016
  • First Look

January 12, 2016

But we find that the development stage and maturity of startups that apply for angel funding (and those that are ultimately funded) is inversely correlated with the entrepreneurship friendliness of the country, which may reflect... View Details
Keywords: Carmen Nobel
  • 2023
  • Working Paper

The Complexity of Economic Decisions

By: Xavier Gabaix and Thomas Graeber
We propose a theory of the complexity of economic decisions. Leveraging a macroeconomic framework of production functions, we conceptualize the mind as a cognitive economy, where a task’s complexity is determined by its composition of cognitive operations. Complexity... View Details
Keywords: Decisions; Complexity; Perception; Consumer Behavior; Production
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  • 05 Mar 2019
  • First Look

New Research and Ideas, March 5, 2019

firms lever up, the overall cost of capital falls as leverage increases equity beta, but as debt becomes riskier the marginal benefit of increasing equity beta declines. As a simple theoretical framework predicts, we find that leverage is View Details
Keywords: Dina Gerdeman
  • 24 Jun 2008
  • First Look

First Look: June 24, 2008

research outputs in a panel dataset spanning the careers of 3,862 academic life scientists. Using inverse probability of treatment weights (IPTW) to account for the dynamics of self-selection into patenting, we find that patenting has a... View Details
Keywords: Martha Lagace
  • 31 May 2016
  • First Look

May 31, 2016

employee walks by the clinic for reasons other than vaccination—predicts whether the employee gets vaccinated at the clinic. We also test whether base proximity—the inverse of walking distance from the employee’s desk to the... View Details
Keywords: Sean Silverthorne
  • 01 Feb 2012
  • What Do You Think?

Is Support for Small Business Misplaced?

their founding, they netted out destroying jobs in years two through five as most of them failed, suggesting less job security than in larger organizations. At the international level, economists Rafael La Porta and Andrei Schleifer conclude that a nation's wealth is... View Details
Keywords: by James Heskett
  • 07 Dec 2010
  • First Look

First Look: Dec. 7

implemented in the SEC's August 2010 rule. Download the paper: http://www.hbs.edu/research/pdf/11-052.pdf Payout Taxes and the Allocation of Investment Authors:Bo Becker, Marcus Jacob, and Martin Jacob Abstract When corporate payout is... View Details
Keywords: Sean Silverthorne
  • 22 Mar 2016
  • First Look

March 22, 2016

and maturity of startups that apply for angel funding (and those that are ultimately funded) is inversely correlated with the entrepreneurship friendliness of the country, which may reflect self-censoring by very early-stage firms that do... View Details
Keywords: Sean Silverthorne