Publications
Publications
Show Results For
- All HBS Web
(1,954)
- Faculty Publications (711)
Property
→
- Article
The Cross Section of Expected Holding Period Returns and Their Dynamics: A Present Value Approach
By: Matthew R. Lyle and Charles C.Y. Wang
We provide a tractable model of firm-level expected holding period returns using two firm fundamentals—book-to-market ratio and ROE—and study the cross-sectional properties of the model-implied expected returns. We find that 1) firm-level expected returns and expected... View Details
- 2015
- Working Paper
Full Substitutability
By: John William Hatfield, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky and Alexander Westkamp
Various forms of substitutability are essential for establishing the existence of
equilibria and other useful properties in diverse settings such as matching, auctions,
and exchange economies with indivisible goods. We extend earlier models' canonical
definitions of... View Details
- 2015
- Working Paper
Lost in the Clouds: The Impact of Changing Property Rights on Investment in Cloud Computing Ventures
By: Josh Lerner and Greg Rafert
Our analysis seeks to understand the impact of changing allocations of property rights on investment in new firms. We focus on the Cartoon Network, et al. v. Cablevision decision in the U.S., which narrowed the protection enjoyed by content creators (e.g., movie... View Details
- April 2015 (Revised April 2015)
- Case
Yale University Investments Office: February 2015
By: Josh Lerner
David Swensen and the Investments Office staff must decide whether to continue to allocate the bulk of the university's endowment to illiquid investments—hedge funds, private equity, real estate—given the impact of the recent market turmoil. The case explores the risks... View Details
- April 2015
- Article
Measuring Teamwork in Health Care Settings: A Review of Survey Instruments
By: Melissa Valentine, Ingrid M. Nembhard and Amy C. Edmondson
Background: Teamwork in health care settings is widely recognized as an important factor in providing high quality patient care. However, the behaviors that comprise effective teamwork, the organizational factors that support teamwork, and the relationship... View Details
- January 2015
- Case
Cresud and Argentina
By: David E. Bell and Mary Shelman
Argentina-based Cresud managed 1 million hectares (2.5 million acres) of land in South America. For 20 years, the publicly traded company's strategy had been to acquire underutilized properties and turn them into productive farmland for cattle and crops. In 2014,... View Details
- January 2015 (Revised March 2017)
- Case
New Urban Mechanics
By: Mitchell Weiss
Funding to scale Citizens Connect, Boston's 311 app, is both a blessing and a burden and tests two public entrepreneurs. In 2012, the Commonwealth of Massachusetts provides Boston's Mayor's Office of New Urban Mechanics with a grant to scale Citizens Connect across the... View Details
Keywords: Public Entrepreneurship; Civic Technology; Government Innovation; Civic Innovation; Cities; New Urban Mechanics; Thomas. M. Menino; Chris Osgood; Nigel Jacob; Connected Bits; SeeClickFix; Ben Berkowitz; Eric Carlson; Dave Mitchell; Government Technology; Open Innovation; Open Source Software; Citizens Connect; Commonwealth Connect; Entrepreneurship; Innovation and Invention; Innovation Leadership; Innovation and Management; Open Source Distribution; Public Administration Industry; Information Technology Industry; Boston
- 2015
- Working Paper
Strategy-Proofness, Investment Efficiency, and Marginal Returns: An Equivalence
By: John William Hatfield, Fuhito Kojima and Scott Duke Kominers
We show that a mechanism induces an agent to make efficient ex ante investment choices if and only if it rewards that agent with his marginal surplus; additionally, for an ex post efficient mechanism, these properties are equivalent to strategy-proofness for the agent.... View Details
- December 2014
- Teaching Note
Rick's Dilemma
By: Arthur I Segel and Ben Eppler
This is a teaching note designed to accompany the case "Rick's Dilemma." View Details
- December 2014 (Revised August 2024)
- Case
HomeAway: Organizing the Vacation Rental Industry
By: Rory McDonald, Feng Zhu and Cheng Gao
In less than 10 years, cofounders Brian Sharples and Carl Shepherd had transformed HomeAway from just another Internet startup into the world's leading vacation-rental marketplace—a global online platform that links customers seeking vacation-home rentals to the... View Details
- Article
Aztec Castles and the dP3 Quiver
By: Megan Leoni, Gregg Musiker, Seth Neel and Paxton Turner
Bipartite, periodic, planar graphs known as brane tilings can be associated to a large class of quivers. This paper will explore new algebraic properties of the well-studied del Pezzo 3 (dP3) quiver and geometric properties of its corresponding brane tiling. In... View Details
- 2014
- Article
Are Patents Creative or Destructive?
By: Tom Nicholas
Current debate over patent aggregation has led to renewed interest in the long-standing question concerning whether patents are a creative or a destructive influence on the process of technological development. In this paper I examine the basic patent tradeoff between... View Details
- Article
Did Bank Distress Stifle Innovation During the Great Depression?
By: Ramana Nanda and Tom Nicholas
We find a negative relationship between bank distress and the level, quality, and trajectory of firm-level innovation during the Great Depression, particularly for R&D firms operating in capital intensive industries. However, we also show that because a sufficient... View Details
- 2015
- Working Paper
Bottlenecks, Modules and Dynamic Architectural Capabilities
How do firms create and capture value in large technical systems? In this paper, I argue that the points of both value creation and value capture are the system's bottlenecks. Bottlenecks arise first as important technical problems to be solved. Once the problem is... View Details
- August 2014 (Revised November 2015)
- Case
Rick's Dilemma
By: Arthur I. Segel, Charles F. Wu, Siddharth Yog and Ben Eppler
In 2014, Rick is serving as a trustee for a large family trust whose principle asset is a plot of prime real estate in the Upper East Side of Manhattan. The land is currently subject to a ground lease which pays $4.6 million annually, with resets every 20 years at 4.5%... View Details
- July 2014 (Revised May 2015)
- Case
Making Room for the Baby Boom: Senior Living
By: Charles F. Wu, Joseph Beyer and Arthur I. Segel
Tom Alperin's National Development has purchased a building site in affluent Wellesley, MA, and is in the process of deciding whether to build apartments, a combination of independent living and assisted living units for seniors, or perhaps even higher acuity... View Details
- 2018
- Working Paper
Patent Trolls: Evidence from Targeted Firms
By: Lauren Cohen, Umit G. Gurun and Scott Duke Kominers
We provide the first large-sample evidence on the behavior and impact of non-practicing entities (NPEs) in the intellectual property space. We find that on average, NPEs appear to behave as opportunistic “patent trolls.” NPEs sue cash-rich firms—and target cash in... View Details
- June 2014
- Teaching Note
Via Verde
By: Arthur I Segel
Developers Jonathan Rose and Adam Weinstein were trying to determine which of three proposals to submit to the city of New York in response to a RFP to create an affordable housing project in the South Bronx. The site, referred to as Via Verde, was a 1.5-acre... View Details
- June 2014 (Revised November 2015)
- Case
Via Verde
By: Arthur I Segel, Nicolas P. Retsinas, Philip Berkman, Sean Liu, Jared Katseff and Shawn Tuli
Developers Jonathan Rose and Adam Weinstein were trying to determine which of three proposals to submit to the city of New York in response to a RFP to create an affordable housing project in the South Bronx. The site, referred to as Via Verde, was a 1.5-acre... View Details
- June 2014 (Revised May 2020)
- Supplement
Busse Place (B): Hannah's Dilemma
By: Arthur I. Segel and John H. Vogel, Jr.
Marisa Sanchez, a new Associate at Douglas Private Equity Advisors, confronts a dilemma when she is asked by a Senior Vice President (SVP) to do due diligence on a deal he wants to bring before the investment committee which will include the SVP, Douglas' owner and... View Details
Keywords: Real Estate; Financial Analysis; Property; Finance; Analysis; Ethics; Real Estate Industry; United States