Publications

2022
Working Paper

Stock Market Stimulus

By: Robin Greenwood, Toomas Laarits and Jeffrey Wurgler

We study the stock market effects of the arrival of the three rounds of “stimulus checks” to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of... View Details

Keywords: Stock Market; COVID-19 Pandemic; Fiscal Stimulus; Stimulus Payments; Impact; Stocks; System Shocks; Price; Spending; United States; Hong Kong; China

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March 2021 (Revised March 2024)
Case

M-KOPA: Empowering Lives

By: V. Kasturi Rangan, Wale Lawal and Pippa Tubman Armerding

The Pay As You Go solar power company in East Africa had sales of $71 million in 2019. It wished to grow to $300 million by 2025. M-KOPA, founded by three entrepreneurs in 2011, had grown nicely in Kenya and Uganda to reach nearly 750,000 households with an innovative... View Details

Keywords: Mobile Payment; Go-to-market Strategy; Business At The Base Of The Pyramid; Business Growth; Social Entrepreneurship; Renewable Energy; Business Model; Growth and Development Strategy; Expansion; Marketing Strategy; Developing Countries and Economies; Kenya; Uganda; Nigeria

August 2015 (Revised August 2015)
Case

Hoag Orthopedic Institute

By: Robert S. Kaplan and Jonathan Warsh

Two groups of orthopedic surgeons form a joint venture with a community hospital to establish Hoag Orthopedic Institute, a for-profit hospital and two ambulatory service centers. By controlling and integrating all aspects of the patients' medical treatment, the... View Details

Keywords: Outcomes Measurement; Bundled Payment; Health Care; Activity-based Costing And Management; Measurement and Metrics; Activity Based Costing and Management; Competitive Strategy; Medical Specialties; Health Care and Treatment; Outcome or Result; Health Industry

01 Mar 2007
News

The Plight of the Global Poor

multinational corporations (MNCs) and local businesses are serving the previously invisible BOP market: Nestlé, with its “milk-district model” that encourages supporting businesses to spring up around its dairies in rural India; CEMEX’s program View Details

Keywords: Garry Emmons; bottom of the pyramid (BOP); Colleges, Universities, and Professional Schools; Educational Services; Social Assistance; Health, Social Assistance

Article

Trading Imbalances and the Law of One Price

By: Mark Seasholes and Clark Liu

We study trading and prices of Chinese (mainland)/Hong Kong dual-listed shares. Relative prices can diverge by a factor of two and exhibit significant variation over time. Order imbalances explain contemporaneous changes in relative prices at daily and weekly... View Details

Keywords: Law Of One Price; Cross-listings; Order Imbalances; Stock Shares; Price; Balance and Stability; Financial Markets; Financial Services Industry; Hong Kong; China

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06 Aug 2020
News

Interview with Professor Regina Herzlinger on Balancing Entrepreneurship and Corporate Governance with a Prominent Academic Career

12 Jun 2014
News

When Success Feels Empty

Keywords: satisfaction; happiness; generativity; work-life balance

May 2017 (Revised June 2017)
Case

ATH Technologies (A): Making the Numbers

By: Robert Simons and Jennifer Packard

An exercise that takes students through five stages of growth in an entrepreneurial start-up in the medical devices industry: 1) founding, 2) growth, 3) push to profitability, 4) refocusing process, and 5) takeover by new management. At each stage, students must... View Details

Keywords: Strategy And Execution; Management Control Systems; Balancing Innovation And Control; Performance Management; Business Growth and Maturation; Business Startups; Profit; Geographic Location; Governance Controls; Innovation and Invention; Management Succession; Performance Evaluation; Medical Devices and Supplies Industry

13 Sep 2018
HBS Seminar

Ashley Swanson, Wharton, University of Pennsylvania

June 2023
Case

Block: Creating an Ecosystem of Ecosystems

By: Lauren Cohen, Richard Ryffel, Grace Headinger and Ruoshi Qi

At Investor Day 2022, Block announced a new vision for its businesses: creating an ecosystem of ecosystems. Outside the norm for many public growth companies, Block had recently acquired a variety of new business streams in the creator economy and Bitcoin despite a... View Details

01 May 2020
News

The Business of Medicine in the Era of COVID-19

October 2023 (Revised October 2024)
Case

UnDosTres: Building the Paytm of Mexico

By: Álvaro Rodríguez Arregui, Max Hancock and Amy Klopfenstein

Arpit Gupta, Naveen Sharma, and Vikram Deswal co-founded the mobile payment app UnDosTres in Mexico City in 2015. In the past, Gupta had worked at Paytm, an India-based payment app valued at over $1 billion. In Mexico, the co-founders hoped to recreate Paytm’s success.... View Details

Keywords: Technology Adoption; Advertising; Digital Platforms; Growth and Development Strategy; Adaptation; Technology Industry; Financial Services Industry; Mexico; India

2018
Working Paper

Opportunistic Returns and Dynamic Pricing: Empirical Evidence from Online Retailing in Emerging Markets

By: Chaithanya Bandi, Antonio Moreno, Donald Ngwe and Zhiji Xu

We investigate how dynamic pricing can lead to more product returns in the online retail industry. Using detailed sales data of more than two million transactions from the Indian online retail market, where price promotions are very common, we document two types of... View Details

Keywords: Cash On Delivery; Dynamic Pricing; Online Retail; Payment Methods; Strategic Customer Behavior; Opportunistic Returns; Price; Policy; Consumer Behavior; Emerging Markets; Retail Industry

SSRN

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2012
Working Paper

Mexico's Financial Crisis of 1994-1995

By: Aldo Musacchio

This paper explains the causes leading to the Mexican crisis of 1994-1995 (known as "The Tequila Crisis"), and its short- and long-term consequences. It argues that excessive enthusiasm on the part of foreign investors, not based on Mexico's fundamentals, and weak... View Details

Keywords: Financial Crisis; Foreign Direct Investment; Banks and Banking; Government and Politics; Currency Exchange Rate; Banking Industry; Mexico

September 2013
Case

The Case of the Unidentified Industries—2013

By: Mihir A. Desai, William E. Fruhan Jr. and Elizabeth A. Meyer

Helps students to understand how the characteristics of a business are reflected in its financial statements. This case consists of an exercise in which students are given balance sheet data in percentage form and other selected financial data for companies in 14... View Details

Keywords: Financial Management; Accounting Statements; Ratio Analysis; Financial Statements; Finance

2014
Chapter

Remapping the Flow of Funds

By: Juliane Begenau, Monika Piazzesi and Martin Schneider

This article argues that quantitative analysis of credit market positions would benefit tremendously if the additional information about the structure of payment streams were more readily available. Most available data on credit market positions, such as the Flow of... View Details

Keywords: Accounting; Credit