Publications
Publications
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- All HBS Web
(1,834)
- Faculty Publications (279)
- 2009
- Working Paper
An Ounce of Prevention: The Power of Public Risk Management in Stabilizing the Financial System
By: David A. Moss
The magnitude of the current financial crisis reflects the failure of an economic and regulatory philosophy that had proved increasingly influential in policy circles over the past three decades.
This paper suggests (1) that contrary to the prevailing wisdom,... View Details
- May 2009
- Article
Asymmetric Information Effects on Loan Spreads
The paper estimates the cost arising from information asymmetry between the lead bank and members of the lending syndicate. In a lending syndicate, the lead bank retains only a fraction of the loan but acts as the intermediary between the borrower and the syndicate... View Details
- 2008
- Chapter
Corporate Honesty and Business Education: A Behavioral Model
By: Rakesh Khurana and Herbert Gintis
Since the mid-1970s neoclassical economic theory has dominated business school thinking and teaching in dealing with the nature of human motivation. However valuable in understanding competitive product and financial markets, neoclassical economic theory employs an... View Details
- 2008
- Book
On Competition
By: M. E. Porter
Competition is one of society's most powerful forces for making things better in many fields of human endeavor. The study of competition and the creation of value, in their full richness, have preoccupied me for several decades. Competition is pervasive, whether it... View Details
- 2008
- Working Paper
From Social Control to Financial Economics: The Linked Ecologies of Economics and Business in Twentieth Century America
By: Marion Fourcade and Rakesh Khurana
As the main producers of managerial elites, business schools represent strategic research sites for understanding the formation of economic practices and representations. This article draws on historical material to analyze the changing place of economics in American... View Details
- 2008
- Working Paper
New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability
By: Dale F. Gray, Robert C. Merton and Zvi Bodie
This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details
- 2008
- Working Paper
Rethinking the Role of History in Law & Economics: The Case of the Federal Radio Commission in 1927
By: David A. Moss and Jonathan B. Lackow
In the study of law and economics, there is a danger that historical inferences from theory may infect historical tests of theory. It is imperative, therefore, that historical tests always involve a vigorous search not only for confirming evidence, but for... View Details
- 2008
- Other Unpublished Work
From Public Purpose to Financial Economics: The Linked Ecologies of Economics and Business in Twentieth Century America
By: Marion Fourcade and Rakesh Khurana
As the main producers of managerial elites, business schools represent strategic research sites for understanding the formation of economic practices and representations. This article draws on historical material to analyze the changing place of economics in American... View Details
- 2008
- Working Paper
Gender in Job Negotiations: A Two-Level Game
By: Hannah Riley Bowles and Kathleen L. McGinn
We propose a two-level-game (Putnam, 1988) perspective on gender in job negotiations. At Level 1, candidates negotiate with the employers. At Level 2, candidates negotiate with domestic partners. In order to illuminate the interplay between these two levels, we review... View Details
- May 2008
- Article
Regulation and Bonding: The Sarbanes-Oxley Act and the Flow of International Listings
By: Suraj Srinivasan and Joseph Piotroski
In this paper, we examine the economic impact of the Sarbanes-Oxley Act (SOX) by analyzing foreign listing behavior onto U.S. and U.K. stock exchanges before and after the enactment of the Act in 2002. Using a sample of all listing events onto U.S. and U.K. exchanges... View Details
- January 2008
- Article
Putting Leadership Back into Strategy
In recent decades an infusion of economics has lent the study of strategy much needed theory and empirical evidence. Strategy consultants, armed with frameworks and techniques, have stepped forward to help managers analyze their industries and position their companies... View Details
- 2008
- Other Unpublished Work
The Paranoid Style in the Study of American Politics
By: David Moss and Mary Oey
The conventional view is that political actors, like economic actors, pursue their self interest, and that special interest groups dominate the policy making process by satisfying policy makers' need for money and other forms of political support. Indeed, many... View Details
Keywords: Policy; Government Legislation; Media; Interests; Power and Influence; Public Opinion; United States
- December 2007
- Article
Learning to Live with Governments: Unilever in India and Turkey, 1950-1980
By: G. Jones
A noteworthy characteristic of the contemporary global economy is the uneven distribution of world foreign direct investment (FDI). In 2007 three-quarters of world FDI was located in developed countries. The residual was concentrated in a small number of emerging... View Details
- 2007
- Working Paper
Acting Globally but Thinking Locally? The Influence of Local Communities on Organizations
By: Christopher Marquis and Julie Battilana
We develop an institutional theory of how local communities continue to matter for organizations, and why community factors are particularly important in a global age. Since globalization has taken center stage in both practitioner and academic circles, research has... View Details
- 2007
- Working Paper
Choice, Rationality and Welfare Measurement
By: Jerry R. Green and Daniel A. Hojman
We present a method for evaluating the welfare of a decision maker, based on observed choice data. Unlike the standard economic theory of revealed preference, our method can be used whether or not the observed choices are rational. Paralleling the standard theory we... View Details
- 2007
- Working Paper
New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability
By: Dale F. Gray, Robert C. Merton and Zvi Bodie
This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of... View Details
- October 2007
- Article
The Art of Designing Markets
By: Alvin E. Roth
Traditionally, markets have been viewed as simply the confluence of supply and demand. But to function properly, they must be able to attract a sufficient number of buyers and sellers, induce participants to make their preferences clear, and overcome congestion by... View Details
- June 2006 (Revised July 2009)
- Case
MassMEDIC: The Massachusetts Medical Device Industry Council
By: Willis M. Emmons III, Michael E. Porter and Spencer Wallace
Set in 2004, as Massachusetts Medical Device Industry Council (MassMEDIC) President Tom Sommer contemplates the future direction of a successful medical device cluster association. Focuses on the formation of cluster organizations and their roles and effectiveness,... View Details
- 2006
- Working Paper
On the Origin of Shared Beliefs (and Corporate Culture)
This paper shows why members of an organization often share similar beliefs. I argue that there are two mechanisms. First, when performance depends on making correct decisions, people prefer to work with others who share their beliefs and assumptions, since such... View Details
- December 2004
- Case
Money and Banking in America
By: Nancy F. Koehn and Stephen A. Mihm
Provides a concise overview of the critical role that money and the nation's banking system have played in the development of the U.S. economy. Tells the story of money and banking in the United States, from the earliest settlements in the colonial era through the 20th... View Details