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(720)
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- Faculty Publications (197)
Show Results For
- All HBS Web
(720)
- News (81)
- Research (333)
- Events (5)
- Multimedia (3)
- Faculty Publications (197)
- January 20, 2020
- Article
Larry Fink Isn't Going to Read Your Sustainability Report
By: Mark R. Kramer
In his recent annual letter to CEOs, BlackRock CEO Larry Fink makes the stunning claim that climate change has brought us to “the edge of a fundamental reshaping of finance” and “in the near future … a significant reallocation of capital.” BlackRock has committed to... View Details
Kramer, Mark R. "Larry Fink Isn't Going to Read Your Sustainability Report." Harvard Business Review Digital Articles (January 20, 2020).
- 2021
- Article
How Top Managers Use the Entrepreneurial Gap to Drive Strategic Change
By: Robert L. Simons and Antonio Davila
Prior research provides strong evidence for the association between business strategy and the design and use of management control systems. We complement this research by examining the role of management control systems in situations of strategic change. We report the... View Details
Keywords: Management Control Systems; Accountability; Strategic Change; Organization Change And Adaptation; Organizational Performance; Management Systems; Organizational Structure; Corporate Accountability; Organizational Change and Adaptation; Performance
Simons, Robert L., and Antonio Davila. "How Top Managers Use the Entrepreneurial Gap to Drive Strategic Change." European Accounting Review 30, no. 4 (2021): 583–609.
- 2024
- Other Unpublished Work
A Proposal for the IMF: A New Instrument of International Liquidity Provision for Emerging Markets and Developing Economies
By: Laura Alfaro, Guillermo Calvo, José de Gregorio, Augusto de la Torre, Pablo Guidotti, Enrique Mendoza, Ernesto Talvi, Liliana Rojas-Suarez and Andrés Velasco
This paper addresses a critical flaw in the international financial system: the failure to address the inherent asymmetry between countries that issue reserve currencies and those that do not, leaving the latter vulnerable during systemic liquidity crises. We propose... View Details
Keywords: Macroeconomics; Emerging Markets; Financial Markets; International Finance; Developing Countries and Economies; Latin America
Alfaro, Laura, Guillermo Calvo, José de Gregorio, Augusto de la Torre, Pablo Guidotti, Enrique Mendoza, Ernesto Talvi, Liliana Rojas-Suarez, and Andrés Velasco. "A Proposal for the IMF: A New Instrument of International Liquidity Provision for Emerging Markets and Developing Economies." Comité Latinoamericano de Asuntos Financieros (CLAAF) Statement, 345, October 2024.
- November 2014
- Article
The Global Agglomeration of Multinational Firms
By: Laura Alfaro and Maggie Xiaoyang Chen
The explosion of multinational activities in recent decades is rapidly transforming the global landscape of industrial production. But are the emerging clusters of multinational production the rule or the exception? What drives the offshore agglomeration of... View Details
Keywords: Agglomeration; Agglomeration Economies; Multinational Firms and Management; Manufacturing Industry
Alfaro, Laura, and Maggie Xiaoyang Chen. "The Global Agglomeration of Multinational Firms." Journal of International Economics 94, no. 2 (November 2014): 263–276. (Revised April 2014. Also NBER Working Paper Series, No. 15576. See Harvard Business School Working Paper, No. 10-043 for longer version.)
- 2020
- Article
Mutual Funds: Skill and Performance
By: Jonathan B. Berk, Jules van Binsbergen and Max Miller
The authors summarize the recent literature on mutual fund manager skill and performance. They discuss the latest contributions in the field and reinterpret them through the lens of the rational expectations framework (efficient market hypothesis). They further discuss... View Details
Keywords: Investment Return; Investment Portfolio; Financial Management; Performance Evaluation; Measurement and Metrics
Berk, Jonathan B., Jules van Binsbergen, and Max Miller. "Mutual Funds: Skill and Performance." Journal of Portfolio Management 46, no. 5 (2020): 17–31.
- 2014
- Working Paper
The Psycho-Social Benefits of Access to Contraception: Experimental Evidence from Zambia
By: Nava Ashraf, Marric Buessing, Erica Field and Jessica Leight
In a field experiment in Lusaka, Zambia, married couples in the catchment area of a family planning clinic were randomly assigned to either a treatment group (N=503) or a control group (N=768). Those in the treatment group received vouchers guaranteeing free and... View Details
Ashraf, Nava, Marric Buessing, Erica Field, and Jessica Leight. "The Psycho-Social Benefits of Access to Contraception: Experimental Evidence from Zambia." Working Paper, August 2014. (Under review.)
- February 2007
- Article
The Formation of Beliefs: Evidence from the Allocation of Land Titles to Squatters
By: Rafael Di Tella, Sebastian F. Galiani and Ernesto S. Schargrodsky
We study the formation of beliefs in a squatter settlement in the outskirts of Buenos Aires exploiting a natural experiment that induced an allocation of property rights that is exogenous to the characteristics of the squatters. There are significant differences in the... View Details
Di Tella, Rafael, Sebastian F. Galiani, and Ernesto S. Schargrodsky. "The Formation of Beliefs: Evidence from the Allocation of Land Titles to Squatters." Quarterly Journal of Economics 122, no. 1 (February 2007).
- 2009
- Other Paper
Trade Policy and Firm Boundaries
By: Laura Alfaro, Paola Conconi, Andrew F. Newman and Harald Fadinger
We examine how trade policy affects firms' organizational choices. We embed a model of firms' vertical integration decisions into a standard perfectly-competitive international trade framework. In the model, integration decisions are driven by a trade-off... View Details
Keywords: Trade; Policy; Ownership; Business and Government Relations; Vertical Integration; Boundaries
Alfaro, Laura, Paola Conconi, Andrew F. Newman, and Harald Fadinger. "Trade Policy and Firm Boundaries."
- December 2016 (Revised December 2018)
- Case
From Start-Up to Grown-Up Nation: The Future of the Israeli Innovation Ecosystem
By: Elie Ofek and Margot Eiran
In June 2016, Benjamin (Bibi) Netanyahu, Prime Minister of Israel, wrestled with how to sustain Israel’s strong innovation track record and the country’s reputation as the “startup nation.” Despite the economic miracle the country had wrought since its founding, he... View Details
Keywords: Israel; Israeli Start-up Nation; Innovation Economy; Entrepreneurial Mindset; Scaling-up; Unicorns; Innovation Clusters; High-tech; Innovation Management; Multinational Corporation R＆D Centers; Social Equality; Two-tier Economy; Liberalizing An Economy; Foreign Investment; Military Service; Quality Of Human Capital; Socioeconomic Gaps; Labor Force Participation; Government Initiatives; Innovation and Management; Entrepreneurship; Venture Capital; Business Startups; Government and Politics; Economy; Equality and Inequality; Education; Resource Allocation; Globalization; Israel
Ofek, Elie, and Margot Eiran. "From Start-Up to Grown-Up Nation: The Future of the Israeli Innovation Ecosystem." Harvard Business School Case 517-066, December 2016. (Revised December 2018.)
- Article
Investors as Stewards of the Commons?
By: George Serafeim
Over the past few years, there has been a significant increase in the number of initiatives seeking to mobilize investor voice towards positive social impact. In this paper, I provide a framework outlining the role of investors as stewards of the commons. While... View Details
Keywords: Collaboration; Industry Self-regulation; Sustainability; ESG; Capital Markets; Investor Behavior; Investment Activism; Social Issues; Environmental Sustainability; Corporate Social Responsibility and Impact; Cooperation
Serafeim, George. "Investors as Stewards of the Commons?" Journal of Applied Corporate Finance 30, no. 2 (Spring 2018): 8–17.
- 2010
- Working Paper
Trade Policy and Firm Boundaries
By: Laura Alfaro, Paola Conconi, Harald Fadinger and Andrew F. Newman
We study how trade policy affects firms' ownership structures. We embed an incomplete contracts model of vertical integration choices into a standard perfectly-competitive international trade framework. Integration decisions are driven by a trade-off between the... View Details
- March 2015 (Revised February 2017)
- Case
Shanghai: GDP Apostasy
By: George Serafeim
Balancing economic growth alongside environmental sustainability and social inclusion was becoming increasingly important in China. The case describes Shanghai's decision to abandon growth of Gross Domestic Product (GDP) as its primary metric of measuring success.... View Details
Keywords: China; Gdp; Measurement; Measurement Problems; Accountability; Sustainability; Sustainable Development; Strategy Execution; Strategy; Balanced Scorecard; Strategy Map; Macroeconomics; Measurement and Metrics; Corporate Accountability; Accounting; Environmental Sustainability; Development Economics; Corporate Governance; Shanghai
Serafeim, George, Rebecca Henderson, and David Freiberg. "Shanghai: GDP Apostasy." Harvard Business School Case 115-042, March 2015. (Revised February 2017.)
- 2024
- Working Paper
Hidden Alpha
By: Manuel Amman, Alexander Cochardt, Lauren Cohen and Stephan Heller
This paper documents the central role of hidden connections between fund managers and firm officers in financial markets, drawing on an extensive dataset of over 100 thousand manually identified Facebook profiles and their 35 million Facebook friends. Our findings... View Details
Amman, Manuel, Alexander Cochardt, Lauren Cohen, and Stephan Heller. "Hidden Alpha." Working Paper, 2024. (Winner of the 2022 Chicago Quantitative Alliance Academic Paper Competition. First Prize presented by Chicago Quantitative Alliance. Winner of the Institute for Quantitative Investment Research (INQUIRE) Grant, 2023.)
- October 2017 (Revised April 2024)
- Case
Snap Inc. Goes Public (A)
By: Lynn Sharp Paine and Will Hurwitz
Snap Inc.’s chairman must decide how to address investor concerns about the company’s unprecedented plans to issue only non-voting shares in its upcoming IPO. The case is set in early 2017 following the public availability of Snap’s IPO filing with the U.S. Securities... View Details
Keywords: Ethics; Capital Structure; Corporate Accountability; Governing and Advisory Boards; Corporate Governance; Going Public; Business and Shareholder Relations; Leadership; Management; Mobile and Wireless Technology; Venture Capital; Technology Industry; Telecommunications Industry; Information Technology Industry; United States; California
Paine, Lynn Sharp, and Will Hurwitz. "Snap Inc. Goes Public (A)." Harvard Business School Case 318-042, October 2017. (Revised April 2024.)
- July–August 2024
- Article
Doing More with Less: Overcoming Ineffective Long-Term Targeting Using Short-Term Signals
By: Ta-Wei Huang and Eva Ascarza
Firms are increasingly interested in developing targeted interventions for customers with the best response,
which requires identifying differences in customer sensitivity, typically through the conditional average treatment
effect (CATE) estimation. In theory, to... View Details
Keywords: Long-run Targeting; Heterogeneous Treatment Effect; Statistical Surrogacy; Customer Churn; Field Experiments; Consumer Behavior; Customer Focus and Relationships; AI and Machine Learning; Marketing Strategy
Huang, Ta-Wei, and Eva Ascarza. "Doing More with Less: Overcoming Ineffective Long-Term Targeting Using Short-Term Signals." Marketing Science 43, no. 4 (July–August 2024): 863–884.
- Web
The “Hawthorne Effect” – The Human Relations Movement – Baker Library | Bloomberg Center, Historical Collections
HBS Home HBS Index Contact Us A New Vision An Essay by Professors Michel Anteby and Rakesh Khurana Introduction The Hawthorne Plant Employee Welfare Illumination Studies and Relay Assembly Test Room Enter Elton Mayo Human Relations and... View Details
- 2013
- Book
Business and the Environment: Critical Perspectives in Business and Management
By: Susse Georg and Andrew J. Hoffman
Over the past four decades, the concept of corporate environmentalism has passed through multiple iterations. Prompted by landmark environmental events such the publication of Rachel Carson’s Silent Spring (1962), the Santa Barbara oil spill, the Cuyahoga River fire,... View Details
Georg, Susse, and Andrew J. Hoffman, eds. Business and the Environment: Critical Perspectives in Business and Management. 4 vols. Routledge, 2013.
- Forthcoming
- Article
The Stock Market and Bank Risk-Taking
By: David S. Scharfstein and Antonio Falato
We argue that stock market pressure to generate earnings encourages banks to increase risk. We measure risk using confidential supervisory ratings as well as financial information released in regulatory filings. We document that there is an increase in the risk-taking... View Details
- January 2015 (Revised October 2018)
- Case
Nasty Gals Do It Better
By: David Collis, Diane Chang, Matthew Shaffer and Ashley Hartman
In 2006, Sophia Amoruso started Nasty Gal, an eBay boutique selling vintage clothes. With a strong sense of style and personality, Amoruso poured herself into building the brand and developing relationships with her customers—typically the slightly edgy 18–24 year old.... View Details
Keywords: Business Growth; Brand Management; Online Retail; Clothing; Apparel; Expansion; Growth and Development Strategy; Brands and Branding; Management; Marketing Strategy; Strategic Planning; Social Media; E-commerce; Digital Marketing; Retail Industry; Apparel and Accessories Industry; United States
Collis, David, Diane Chang, Matthew Shaffer, and Ashley Hartman. "Nasty Gals Do It Better." Harvard Business School Case 715-412, January 2015. (Revised October 2018.)
- Web
Managing the Future of Work
access to talent. With the rising burden of childcare and eldercare, it's in the best interest of employers to invest in fostering a care culture—one that attracts caregivers on the margins of the workforce and helps current employees succeed. The American Opportunity... View Details