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Show Results For
- All HBS Web
(3,123)
- People (13)
- News (801)
- Research (1,908)
- Events (17)
- Multimedia (13)
- Faculty Publications (1,222)
- Article
A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets
Hong, Harrison, and Jeremy Stein. "A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets." Journal of Finance 54, no. 6 (December 1999).
- 1992
- Other Unpublished Work
Conflict or Indifference: U.S. Multinationals in a World of Regional Trading Blocs
By: L. T. Wells Jr.
- March 1992 (Revised November 1993)
- Background Note
Trading the Right to Pollute: Developing the Market for Pollution Allowances
Examines the issues underlying the formation of the market for tradeable pollution allowances, following the requirement of Title IV of the 1990 Amendments to the Clean Air Act. Examines the implications that these trade the allowances hold for the U.S. electric... View Details
Baldwin, Carliss Y. "Trading the Right to Pollute: Developing the Market for Pollution Allowances." Harvard Business School Background Note 292-120, March 1992. (Revised November 1993.)
- 17 Feb 2020
- Working Paper Summaries
The Impact of Technology and Trade on Migration: Evidence from the US
- July 2000
- Article
Competition and Human Capital Accumulation: A Theory of Interregional Specialization and Trade
By: Julio J. Rotemberg and G. Saloner
Rotemberg, Julio J., and G. Saloner. "Competition and Human Capital Accumulation: A Theory of Interregional Specialization and Trade." Regional Science and Urban Economics 30, no. 4 (July 2000): 373–404.
- March 2013
- Article
Financial Development, Fixed Costs and International Trade
Exporting firms face significant up-front costs in product design, marketing, and distribution, which likely would be difficult to finance externally. We argue that a developed financial system can facilitate exports, and we test three implications. First, a more... View Details
Becker, Bo, David Greenberg, and Jinzhu Chen. "Financial Development, Fixed Costs and International Trade." Review of Corporate Finance Studies 2, no. 1 (March 2013): 1–28.
- 2012
- Article
Mutual Fund Trading Pressure: Firm-Level Stock Price Impact and Timing of SEOs
By: Mozaffar N. Khan, Leonid Kogan and George Serafeim
In tests of the equity market timing theory of external finance, the prior literature has used overvaluation identifiers such as high market-to-book and high prior returns that are likely correlated with other determinants of SEOs. We use price pressure resulting from... View Details
Keywords: Equity; Market Transactions; Valuation; Capital Structure; Market Timing; Mathematical Methods; Acquisition
Khan, Mozaffar N., Leonid Kogan, and George Serafeim. "Mutual Fund Trading Pressure: Firm-Level Stock Price Impact and Timing of SEOs." Journal of Finance 67, no. 4 (August 2012): 1371–1395.
- February 2018
- Article
Heterogeneous Technology Diffusion and Ricardian Trade Patterns
By: William R. Kerr
This study tests the importance of Ricardian technology differences for international trade. The empirical analysis has three comparative advantages: including emerging and advanced economies, isolating panel variation regarding the link between productivity and... View Details
Keywords: Exports; Comparative Advantage; Technological Transfer; Innovation; Networks; Patents; Residency; Technology Adoption; Trade; Research and Development; Immigration; United States
Kerr, William R. "Heterogeneous Technology Diffusion and Ricardian Trade Patterns." World Bank Economic Review 32, no. 1 (February 2018): 163–182.
- 2013
- Working Paper
Heterogeneous Technology Diffusion and Ricardian Trade Patterns
By: William R. Kerr
This study tests the importance of Ricardian technology differences for international trade. The empirical analysis has three comparative advantages: including emerging and advanced economies, isolating panel variation regarding the link between productivity and... View Details
Keywords: Exports; Comparative Advantage; Technological Transfer; Innovation; Networks; Patents; Residency; Technology Adoption; Trade; Research and Development; Immigration; United States
Kerr, William R. "Heterogeneous Technology Diffusion and Ricardian Trade Patterns." Harvard Business School Working Paper, No. 14-039, November 2013. (NBER Working Paper Series, No. 19657, November 2013.)
- Research Summary
The Ownership and Trading of Debt Claims in Chapter 11 Restructurings (with Victoria Ivashina and David Smith)
This paper explores a novel data set that identifies over 71,000 investors holding debt claims of 136 companies filing for U.S. Chapter 11 bankruptcy protection during the period of 1998 through 2009. We investigate how concentration in debt ownership relates to... View Details
- Article
Unhealthy Consumerism: The Challenge of Trading Off Price and Quality in Healthcare
By: Kate Barasz and Peter A. Ubel
Over the last decade, healthcare in many parts of the world has shifted toward a more patient-centric, consumeristic model, marked by an emphasis on choice and a proliferation of typical consumer-facing information (e.g., price and quality data). However, while the... View Details
Keywords: Medical Decision-making; Choice; Health Care and Treatment; Quality; Price; Consumer Behavior; Decision Making
Barasz, Kate, and Peter A. Ubel. "Unhealthy Consumerism: The Challenge of Trading Off Price and Quality in Healthcare." Behavioural Public Policy 2, no. 1 (May 2018): 41–55.
- 01 Aug 2018
- What Do You Think?
Are Free Trade and Free Markets Quaint Ideas From the Past?
AvigatorPhotographer Are Free Trade Notions Repeatedly Victim to Short-Term Thinking? Free trade and free markets are concepts to which many of us, given our training in... View Details
Keywords: by James Heskett
- September 2005
- Article
Managerial Foresight and Attempted Rent Appropriation: Insider Trading on Knowledge of Imminent Breakthroughs
By: Gautam Ahuja, Russell W. Coff and Peggy M. Lee
In order to establish a competitive advantage, firms must acquire or create resources at a price below their value in use. Absent pure luck, this requires managers to exercise foresight about a resource's future value and/or complementarities with pre-existing... View Details
Ahuja, Gautam, Russell W. Coff, and Peggy M. Lee. "Managerial Foresight and Attempted Rent Appropriation: Insider Trading on Knowledge of Imminent Breakthroughs." Strategic Management Journal 26, no. 9 (September 2005): 791–808.
- 1994
- Chapter
Introduction and Overview: The Transition Economies of Eastern Europe
By: K. A. Froot, O. Blanchard and J. Sachs
Froot, K. A., O. Blanchard, and J. Sachs. "Introduction and Overview: The Transition Economies of Eastern Europe." In The Transition in Eastern Europe (Restructuring). Vol. 2, edited by O. Blanchard, K. Froot, and J. Sachs, 1–18. Chicago: University of Chicago Press, 1994.
- Research Summary
Manager Specific Human Capital Investment: A Model of Block Trading and Firm Stability
I develop a model in which workers can undertake specific human capital investments in the firm and in the manager employed by the firm. If the manager leaves the firm, a worker has to decide whether to join her in the new firm or stay in the old firm. In case of... View Details
- January 2020
- Article
Jack of All Trades and Master of Knowledge: The Role of Diversification in New Distant Knowledge Integration
By: Frank Nagle and Florenta Teodoridis
We consider the role of individual-level diversification as a mechanism through which skilled researchers engage in successful exploration—recognizing and integrating new knowledge external to one’s domains of expertise. To approach an ideal experiment, we (1) employ a... View Details
Keywords: Individual-level Knowledge Diversification; Novel Knowledge; Knowledge Acquisition; Diversification; Innovation and Invention; Research
Nagle, Frank, and Florenta Teodoridis. "Jack of All Trades and Master of Knowledge: The Role of Diversification in New Distant Knowledge Integration." Strategic Management Journal 41, no. 1 (January 2020): 55–85.
- summer 1991
- Article
Trade Secrets and the Justification of Intellectual Property: A Comment on Hettinger
By: L. S. Paine
Keywords: Intellectual Property
Paine, L. S. "Trade Secrets and the Justification of Intellectual Property: A Comment on Hettinger." Philosophy & Public Affairs 20, no. 3 (summer 1991): 247–263. (Reprinted in Business in Ethical Focus: An Anthology, edited by Fritz Allhoff and Anand J. Vaidya, 564-576. Peterborough, ON: Broadview Press, 2008; Reprinted in Ethics in the Workplace: Selected Readings in Business Ethics, edited by Robert A. Larmer, 268-278. St. Paul, Minn.: West Publishing, 1996; Reprinted in Ethics in the Workplace, edited by Edward J. Ottensmeyer and Gerald McCarthy, 508-519. New York: McGraw-Hill, 1996; Reprinted in Intellectual Property: Moral, Legal, and International Dilemmas, edited by Adam D. Moore, 39-56. Lanham, MD: Rowman & Littlefield Publishers, 1997.)
Trading Volume Manipulation and Competition Among Centralized Crypto Exchanges
How competition affects manipulation by firms of information about important attributes of their products and how such information manipulation impacts firms’ short-term and long-term performance are open empirical questions. We use a setting that is especially... View Details
- 1988
- Chapter
Adjustment of the U.S. and Japanese External Imbalances
By: K. A. Froot
Froot, K. A. "Adjustment of the U.S. and Japanese External Imbalances." In Papers and Proceedings of the Fourth Economic Planning Agency International Symposium, edited by M. Yoshitomi, 287–304. Economic Planning Agency (Japan), 1988.
- April 2022
- Case
The First Opium War and Global Free Trade
By: Jeremy Friedman and Allison Lazarus
The First Opium War (1839-1842) symbolized the peak of the era of European imperialism, with a political and cultural legacy that remains potent to this day. The British Empire, “acquired in a fit of absent-mindedness” as one observer famously claimed, seemed to be... View Details
Keywords: Imperialism; Narcotics; Importing; History; Globalized Markets and Industries; Trade; Social Issues
Friedman, Jeremy, and Allison Lazarus. "The First Opium War and Global Free Trade." Harvard Business School Case 722-052, April 2022.