Publications

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23 May 2011
Research & Ideas

Corporate Sustainability Reporting: It’s Effective

change in the social awareness of investors in the past decade. "The number of investors who care about this kind of performance has increased dramatically in the last 10 years," Serafeim says. "Right now... View Details

Keywords: by Michael Blanding

11 Mar 2014
First Look

First Look: March 11

through which supply and demand are brought into equilibrium. In the investment-research industry, broker votes perform these functions. Using detailed clinical data from a midsized investment bank for the years 2004 to 2007, we present evidence that View Details

Keywords: Sean Silverthorne

13 Oct 2010
Research & Ideas

How Government can Discourage Private Sector Reliance on Short-Term Debt

For the last decade or so financial institutions have relied increasingly and excessively on short-term financing, risky business that could quickly go south when a souring economy made it impossible for firms to roll over their... View Details

Keywords: by Staff; Financial Services

Teaching Interest

Overview

Globalization and Emerging Markets (Elective Course) The world order has changed significantly in the last two decades. The influence of western-style varieties of capitalism has been challenged by new forms of capitalism that rely less on private enterprise and on the... View Details

09 Apr 2008
Research & Ideas

The Matchmaker of the Modern Economy

contribution? As Ante writes, "ARD was the first professional venture firm that sought to raise money from nonfamily sources—primarily institutional investors such as insurance companies, educational... View Details

Keywords: by Spencer E. Ante

February 2025
Case

Hyperscaling Dreams: Ualá's Path from Startup to Fintech Champion

By: Juan Alcácer and Manuel Franck

Ualá, a fintech startup founded in Argentina in 2017 by Pierpaolo Barbieri, aimed to increase financial inclusion in Latin America through a digital platform linked to a prepaid card. After rapid success in Argentina, it expanded into Mexico and Colombia, acquiring... View Details

Keywords: Banks and Banking; Leadership; Venture Capital; Talent and Talent Management; Strategy; Credit; Business Startups; Profit; Growth and Development Strategy; Banking Industry; Argentina; Mexico; Colombia; Latin America

November 2000
Case

Wit Capital: Evolution of the Online Investment Bank (B)

Describes the evolution of Wit Capital from its origins as a small brewery to an online investment bank advising both small technology-based companies seeking to raise capital and large companies seeking to acquire Internet companies, as well as offering retail... View Details

Keywords: Internet and the Web; Disruptive Innovation; Service Delivery; Investment Banking; Entrepreneurship

October 2019 (Revised February 2025)
Case

A Conversation with Ellen J. Kullman, Chairman & CEO of DuPont, 2009-2015

By: Lynn S. Paine and Will Hurwitz

Ellen J. Kullman, the retired Chairman and CEO of DuPont, describes how she guided the storied science and technology company through a contentious proxy battle with activist investor Trian Partners, which acquired DuPont shares in 2013 and sought to break up the... View Details

Keywords: Agribusiness; Capital Structure; Corporate Accountability; Corporate Governance; Institutional Investing; Leadership; Leadership Style; Management; Transformation; Agriculture and Agribusiness Industry; Chemical Industry; United States

February 1992 (Revised September 1995)
Case

Goldman, Sachs & Co.: Nikkei Put Warrants--1989

By: Peter Tufano

Japanese financial institutions' willingness to sell put options on the Nikkei Stock Average provides investment banks with the raw material from which to create a security that would allow U.S. investors to bet on falls in the Japanese Stock Market. The investment... View Details

Keywords: Debt Securities; Investment Banking; Product Design; Globalized Markets and Industries; Japan; United States

17 Oct 2023
HBS Case

With Subscription Fatigue Setting In, Companies Need to Think Hard About Fees

to consumers’ reluctance to change vendors, and the ability to sell more products to this seemingly captive group. “A lot of startups are incorporating subscription models into their business plans, partly because investors are pushing... View Details

Keywords: by Jay Fitzgerald; Consumer Products; Information; Information Technology

08 Jun 2010
First Look

First Look: June 8

http://people.hbs.edu/evandensteen/OnlineDocs/PP10_MS_EVdS_Culture%20Clash.pdf Working PapersThe Role of Institutional Development in the Prevalence and Value of Family Firms Authors:Raphael Amit, Yuan Ding, Belén Villalonga, and Hua... View Details

Keywords: Martha Lagace

April 2008 (Revised December 2008)
Case

Leveraged Loans 2007

By: Andre F. Perold and Erik Stafford

The leveraged loan market was in a crisis during the summer of 2007, following many years of low realized volatility (less than 4% per annum), an index of leveraged loans had fallen over 5% in the month of July. A sudden drop in capital market prices for an asset class... View Details

Keywords: History; Financial Liquidity; Investment; Financial Crisis; Market Transactions; Disruption; Decision Choices and Conditions; Competitive Strategy; Capital Markets; Crisis Management; Commercial Banking; Banking Industry; Financial Services Industry