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Publications

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  • 26 Mar 2013
  • First Look

First Look: March 26

particular mechanism to address those voids: minority state ownership. Due to their minority nature, such stakes are less affected by the agency distortions commonly found in full-fledged state-owned firms. Using panel data from publicly... View Details
Keywords: Sean Silverthorne
  • 01 Sep 2005
  • News

WATER Ltd.

for-profit, or “investor-owned,” entities, with the remaining 85 percent operated by municipalities themselves, the Environmental Protection Agency says that the U.S. water industry needs $500 billion of infrastructure investment over the... View Details
Keywords: Garry Emmons; Waste Management and Remediation Services; Corporate Services; Business Schools & Computer & Management Training; Educational Services
  • 14 Sep 2010
  • First Look

First Look: September 14, 2010

not tend to feel as threatened by potential competition from clean energy startups, given the market structure and regulatory environment in the energy sector. We highlight that the problem is unlikely to get solved without the active... View Details
Keywords: Sean Silverthorne
  • 03 Mar 2009
  • First Look

First Look: March 3, 2009

50 employees) but was poised for significant growth. For founder and CEO Michael Lebowitz, the central challenge was to figure out whether and how the agency could retain its boutique culture while transcending its boutique size. The case... View Details
Keywords: Martha Lagace
  • 03 Apr 2019
  • Book

Fintech's Game-Changing Opportunities for Small Business

agencies overseeing banks and lending, yet issues relevant to small-business lending—such as disclosure rules—have often fallen through the cracks. For example, if you are a consumer and you buy a truck, all costs and financing fees must... View Details
Keywords: by Martha Lagace; Banking; Financial Services
  • 06 Dec 2021
  • News

New Wave

growing pains. RITE is the first commercially licensed tidal power project in the United States, and reaching that milestone was an odyssey: Smith reckons that the technical challenges, funding crunches, and regulatory hurdles involved in... View Details
Keywords: Alexander Gelfand; photographed by Chris Sorensen
  • 16 Mar 2003
  • Research & Ideas

At the Center of Corporate Scandal Where Do We Go From Here?

compensation committees. In the end, the problem will not be solved in Congress, nor in regulatory agencies. While those agencies are important and their work will be critical, they will not solve the... View Details
Keywords: by Kim B. Clark
  • 30 Oct 2012
  • First Look

First Look: October 30

onerous when outsourcing the monitoring and enforcement of government regulation. In this paper, we argue that the considerable moral hazard associated with private regulatory monitoring can be mitigated by understanding conflicts of... View Details
Keywords: Sean Silverthorne
  • 28 Jan 2014
  • First Look

First Look: January 28

heterogeneous telecommunication costs arising from different regulatory regimes) strengthens our results. Publisher's link: http://www.people.hbs.edu/rsadun/Distinct_Effects_11-023.pdf August 2013 Cambridge Handbook of Institutional... View Details
Keywords: Sean Silverthorne
  • 03 Nov 2015
  • First Look

November 3, 2015

addition to hurting performance, such workers can generate enormous regulatory and legal liabilities for the firm. We explore a large novel dataset of over 50,000 workers across 11 different firms to document a variety of aspects of... View Details
Keywords: Sean Silverthorne
  • 06 Oct 2015
  • First Look

October 6, 2015

demonstrated how influence derives from instrumental agency as well as structural influence, but it has taken an unnecessarily restrictive view of politics and an overly materialist theory of power. Politics are about much more than... View Details
Keywords: Sean Silverthorne
  • 20 Feb 2007
  • First Look

First Look: February 20, 2007

that the tire grading system was close to becoming a reality. Second, Joan Claybrook, a former Nader consumer interest group lobbyist, had just become head of the National Highway Traffic Safety Administration, the agency within the... View Details
Keywords: Martha Lagace
  • 02 Apr 2019
  • First Look

New Research and Ideas, April 2, 2019

to their accounting reports following CLs. Our results indicate that disclosure of regulatory oversight activities can strengthen public enforcement. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=55919 forthcoming... View Details
Keywords: Dina Gerdeman
  • 07 Mar 2017
  • First Look

First Look at New Research, March 7

private-sector financial intermediaries to engage in excessive amounts of maturity transformation—i.e., to finance risky assets using dangerously large volumes of runnable short-term liabilities. Specifically, we make the case that the Fed can complement its View Details
Keywords: Sean Silverthorne
  • 19 Feb 2019
  • First Look

New Research and Ideas, February 19, 2019

and Gerardo Pérez Cavazos Abstract— This paper examines whether fraud allegations affect firms’ contracting with the government. Using a dataset of whistleblower allegations brought under the False Claims Act against firms accused of defrauding the government, we find... View Details
Keywords: Sean Silverthorne
  • 15 Dec 2015
  • First Look

December 15, 2015

(Frank) Li, and Dylan B. Minor Abstract—We link the corporate governance literature in financial economics to the agency cost perspective of corporate social responsibility (CSR) to derive theoretical predictions about the relationship... View Details
Keywords: Carmen Nobel
  • 20 Jan 2017
  • Research & Ideas

Here’s How Businessman Trump Is Likely to Approach the Presidency

project negotiations, he’s had a chance to do that. In the presidency, there will probably be negotiations — with Congress, with other nations, or with agencies or with all the people a president deals with — where you have to make a... View Details
Keywords: by Christina Pazzanese
  • 28 Aug 2012
  • First Look

First Look: August 28

is that they were taken from the accounts of customers trading in commodity futures and used in other areas of the firm; less is known about how it happened. The case describes MF Global's operating model, certain management decisions, its View Details
Keywords: Sean Silverthorne
  • 09 Nov 2010
  • First Look

First Look: November 9, 2010

legislative and regulatory calls for increased competition. The material entry of a third rating agency (Fitch) to the competitive landscape offers a unique experiment to empirically examine how, in fact,... View Details
Keywords: Sean Silverthorne
  • 07 Apr 2009
  • First Look

First Look: April 7, 2009

average, use unverifiable discretion to convey private information on future cash flows; in contrast, agency theory predicts managers, on average, use unverifiable discretion opportunistically. We test these alternative hypotheses using a... View Details
Keywords: Martha Lagace