Publications

April 2006 (Revised October 2006)
Case

Chrysanthemum and Dragon: JAFCO Asia in China

By: Rawi E. Abdelal and David Lane

In the autumn of 2002, JAFCO Asia, a subsidiary of JAFCO Co., Ltd., became the first foreign private equity firm to open an office in Beijing's Haidian Science Park. JAFCO was the only Japanese private equity firm operating in China. As such, Managing Director Vincent... View Details

Keywords: History; International Relations; Business and Shareholder Relations; Business and Government Relations; Expansion; Market Entry and Exit; Performance Effectiveness; Foreign Direct Investment; Business Strategy; Financial Services Industry; China; Beijing; Japan

21 Aug 2023
Book

You’re More Than Your Job: 3 Tips for a Healthier Work-Life Balance

Future-Proof Your Career, Avoid Burnout, and Build a Life Bigger than Your Business Card, which explains how to treat work-life calibration as you would a financial portfolio, through concepts like diversification. “There’s a calculus of:... View Details

Keywords: by Kara Baskin

2007
Chapter

Behavioral Corporate Finance: A Survey

By: Malcolm Baker, Richard Ruback and Jeffrey Wurgler

Research in behavioral corporate finance takes two distinct approaches. The first emphasizes that investors are less than fully rational. It views managerial financing and investment decisions as rational responses to securities market mispricing. The second approach... View Details

Keywords: Decisions; Prejudice and Bias; Debt Securities; Financial Management; Price; Theory; Investment; Problems and Challenges; Behavioral Finance; Corporate Finance

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Faculty & Advisors | MBA

all. Paul Clancy MBA, Columbia University; BS, Babson College Paul has worked in the biotech industry for the last twenty-three years and spent fourteen years in the consumer products industry. He served as the Chief Financial Officer for... View Details

03 Feb 2018
Op-Ed

How to Heed BlackRock's Call for Corporate Social Responsibility

Larry Fink recently created a shockwave. As cofounder, chairman, and CEO of BlackRock, one of the world’s largest global asset management firms, in an open letter to CEOs he caught the attention of financial markets and beyond by insisting on the importance of... View Details

Keywords: by Julie Battilana

17 Jul 2023
Research & Ideas

Money Isn’t Everything: The Dos and Don’ts of Motivating Employees

employees, it can come across as crass, pushy, or unethical. “The story matters a lot,” Hall says. “Even when you get the financial incentives right, it’s rarely the case that you want to emphasize to employees that this is primarily... View Details

Keywords: by Avery Forman

18 Apr 2023
Blog Post

HBS Students and Alumni Fostering a Supportive Community

comfortable sharing that they don’t have much disposable income.” Fetter adds, “Socioeconomic status is such a salient and stressful part of many people’s lives, although there’s not a lot of open conversation about the topic. There is an... View Details

24 Jan 2024
Op-Ed

Why Boeing’s Problems with the 737 MAX Began More Than 25 Years Ago

discovered on other MAX 9s, the Federal Aviation Administration (FAA) grounded the planes and opened an investigation into whether MAX is safe to fly, accompanied by a stern warning, saying, “This incident should have never happened, and... View Details

Keywords: by Bill George; Air Transportation; Transportation; Aerospace

May 2011
Case

Oriental Fortune Capital: Building a Better Stock Exchange

By: Josh Lerner and Keith Chi-ho Wong

When ChiNext opened in October 2009 as the second tier market of the Shenzhen Stock Exchange (SZSE), it aimed to provide Chinese entrepreneurs with equity capital and to facilitate the exits of venture capital firms and other investors which had previously relied on... View Details

Keywords: Capital Markets; Stocks; Financial Markets; Venture Capital; Private Equity; International Finance; Financial Services Industry; China

August 2022 (Revised January 2025)
Case

NOW PT (A): Should We Invest?

By: George A Riedel, Amy Klopfenstein and Mel Martin

In fall 2021, a team of students from the HBS Impact Investing Fund considered Neurologic Optimal Wellness Physical Therapy (NOW PT) for a potential investment. Dr. Banks, the founder of NOW PT, drove to visit patients. She sought an investment from the fund to open a... View Details

Keywords: Entrepreneurship; Social Entrepreneurship; Finance; Investment; Health; Health Care and Treatment; Medical Specialties; Buildings and Facilities; Financial Services Industry; Financial Services Industry; North and Central America; United States; Massachusetts

Forthcoming
Article

FinTech Lending and Cashless Payments

By: Pulak Ghosh, Boris Vallée and Yao Zeng

Borrower's use of cashless payments both improves their access to capital from FinTech lenders and predicts a lower probability of default. These relationships are stronger for cashless technologies providing more precise information, and for outflows. Cashless payment... View Details

Keywords: Fintech; Lending; Payments; Data Sharing; Financing and Loans; Information Technology; Banks and Banking; Business Model

Forthcoming
Article

Trading Volume Manipulation and Competition Among Centralized Crypto Exchanges

By: Dan Amiran, Evgeny Lyandres and Daniel Rabetti

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

Keywords: Cryptocurrency; Financial Markets; Performance; Competition

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05 Jan 2017
Blog Post

Crossing the River: The HBS/HKS Joint Degree Program

rigor it deserved. The more time I spent in the social sector, the more I recognized that robust applications of strategy, financial analysis, and enterprise management were underrepresented in the field. After surveying potential... View Details

Program

Real Estate Management Program

managers and advisors Real estate industry service providers, such as financial analysts, lawyers, architects, and urban planners While the program is designed primarily for executives with significant real estate industry experience, it... View Details

Keywords: Real Estate; Real Estate

29 May 2009
Working Paper Summaries

Crafting Integrated Multichannel Retailing Strategies

Keywords: by Jie Zhang, Paul Farris, Tarun Kushwaha, John Irvin, Thomas J. Steenburgh & Barton Weitz; Retail

December 2012 (Revised July 2013)
Case

The “Chongqing Model” and the Future of China

By: Meg Rithmire

Since opening to the global economy in 1979, but especially since entering the WTO in 2001, China's economy grew at rates around 10% annually by attracting FDI and promoting exports. After the financial crisis that began in 2008 and depressed demand in the United... View Details

Keywords: China; Public Sector; Private Sector; Developing Countries and Economies; Macroeconomics; Public Administration Industry; China

03 Mar 2008
First Look

First Look: March 4, 2008

stronger for longer maturities, and (iv) following periods when arbitrageurs have lost money, both supply and the term spread are stronger predictors of excess returns. Download the paper from SSRN.com ($5): http://papers.nber.org/papers/w13806 Household Saving... View Details

Keywords: Martha Lagace

May 21, 2020
Editorial

Primary Care Is Hurting: Why Aren't Private Insurers Pitching In?

By: Leemore S. Dafny and J. Michael McWilliams

Primary care clinicians are the front line for patients with suspected infection. We rely on them to diagnose, triage, and manage patients with potential or confirmed COVID infections. They are also responsible for keeping non-COVID medical conditions under control... View Details

Keywords: COVID-19; Primary Care; Health Pandemics; Health Care and Treatment; Financial Condition; Insurance