Publications

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September 2018
Article

Rumors and Refugees: How Government-Created Information Vacuums Undermine Effective Crisis Management

By: Melissa Carlson, Laura Jakli and Katerina Linos

Although more than 800,000 displaced people arrived in Greece by sea in 2015, fewer than 5 percent applied for asylum in this first country of arrival. Instead, they either traveled northward informally or remained in Greece in legal limbo. The resultant chaotic... View Details

Keywords: Refugees; Governance Compliance; Knowledge Dissemination; Policy; Crisis Management; Communication; Greece

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January 2021
Article

Veil-of-Ignorance Reasoning Mitigates Self-Serving Bias in Resource Allocation During the COVID-19 Crisis

By: Karen Huang, Regan Bernhard, Netta Barak-Corren, Max Bazerman and Joshua D. Greene

The COVID-19 crisis has forced healthcare professionals to make tragic decisions concerning which patients to save. Furthermore, the COVID-19 crisis has foregrounded the influence of self-serving bias in debates on how to allocate scarce resources. A utilitarian... View Details

Keywords: Self-serving Bias; Procedural Justice; Bioethics; COVID-19; Fairness; Health Pandemics; Resource Allocation; Decision Making

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October 2002 (Revised April 2005)
Case

Jinwoong: Financing an Entrepreneurial Firm in the Wake of the Korean Financial Crisis

Describes T.P. Lee, the founder and CEO of Jinwoong, a 19-year-old entrepreneurial company in Korea that has grown to become the world's largest manufacturer of camping tents. Labeled by Fortune as one of the most promising entrepreneurs in Asia in 1993, Lee faces some... View Details

Keywords: Emerging Markets; Entrepreneurship; Financing and Loans; Financial Crisis; Manufacturing Industry; Consumer Products Industry; South Korea

22 Feb 2010
Op-Ed

Tragedy at Toyota: How Not to Lead in Crisis

plans for resolution have been Toyota's substitute for crisis response. As accounts pour in about declining quality, the company parades out relatively unknown mid-level managers to quell the firestorm. It won't work. "You live by... View Details

Keywords: by William George; Auto

07 Apr 2020
Research & Ideas

What Customers Need to Hear from You During the COVID Crisis

marketing communications for the first and second quarter of the year. What’s the right strategy for a CMO during a crisis such as the COVID-19 pandemic? During the week of March 23, 2020, Edelman, a global communications firm, conducted... View Details

Keywords: by Jill Avery and Richard Edelman

January 2009
Case

The Federal Reserve and the Banking Crisis of 1931

By: David A. Moss and Cole Bolton

In early October 1931, in the midst of a global economic depression, the U.S. banking system was in crisis—with bank suspensions running at near record levels. At the same time, the broader economy was sputtering, and U.S. gold reserves had come under severe pressure... View Details

Keywords: Decision Choices and Conditions; Financial Crisis; Central Banking; Business History; Crisis Management; Banking Industry; United States

September 2020
Case

Jan Swartz: Steering Princess Cruises Through the COVID-19 Crisis

By: Boris Groysberg and Michael Norris

In the summer of 2020, Jan Swartz, President of Princess Cruises, was persevering to lead her company back from the depths of the COVID-19 Pandemic. Diamond Princess, one of Princess Cruises’ 18 ships was the site of one of the earliest large outbreaks of COVID-19... View Details

Keywords: COVID-19 Pandemic; COVID-19; Leading Change; Crisis Management; Ship Transportation; Health Pandemics; Human Resources; Business Strategy; Gender; Personal Development and Career; Entertainment and Recreation Industry; Travel Industry; Tourism Industry; Japan; United States

October 2007
Teaching Note

Transforming Korea Inc: Financial Crisis and Institutional Reform (TN)

By: Laura Alfaro and Renee Kim

Teaching Note for 708007. View Details

Keywords: Financial Crisis; Governing Rules, Regulations, and Reforms; Transformation; Policy; Development Economics; Investment Funds; International Finance; Financing and Loans; South Korea

June 2010
Case

Cypress Sharpridge: Raising Capital in a Time of Crisis

By: Lena G. Goldberg and Adam Benjamin Nebesar

Cypress Sharpridge, a REIT investing in agency securities, launched its IPO just before the collapse of the subprime mortgage market. The IPO failed. In June 2009, an IPO window seemed to be opening. Should the company try again? CEO Kevin Grant knew that his company's... View Details

Keywords: Financial Crisis; Capital; Financial Strategy; Initial Public Offering; Investment; Leadership; Crisis Management; Financial Services Industry; Real Estate Industry

April 2019
Article

Private Equity and Financial Fragility during the Crisis

By: Shai Bernstein, Josh Lerner and Filippo Mezzanotti

Do private equity firms contribute to financial fragility during economic crises? We find that during the 2008 financial crisis, PE-backed companies increased investments relative to their peers, while also experiencing greater equity and debt inflows. The effects are... View Details

Keywords: Private Equity; Financial Crisis; Performance; Financial Condition

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December 2010
Article

Management and the Financial Crisis (We Have Met the Enemy and He Is Us...)

By: William A. Sahlman

The financial crisis of 2008-2009 has revealed that our broad model of corporate governance is broken, independent of the shortcomings in the regulatory system. Managers and boards of directors in scores of systemically important firms failed to protect employees,... View Details

Keywords: Risk Management; Human Capital; Ethics; Policy; Corporate Governance; Financial Crisis; Finance; Business and Shareholder Relations