Publications

May 2022
Case

Deborah Quazzo at GSV Ventures

By: William A. Sahlman, Michael D. Smith and Nicole Tempest Keller

As COVID-19 swept across the globe in 2020, the education sector faced unprecedented disruption. Schools and colleges worldwide shut down, forcing over a billion students and teachers to move to online learning. Investor interest in the EdTech space exploded as... View Details

Keywords: Edtech; Technology; Online Learning; COVID-19 Pandemic; Education; Information Technology; Venture Capital; Change Management; Strategy; Education Industry; Education Industry; Chicago; California

February 2023 (Revised February 2025)
Case

Doing Business in Athens, Greece

By: Alan D. MacCormack, Carlota Moniz and Emilie Billaud

This case examines the challenges and opportunities of doing business in Greece. It highlights Greece's economic transformation in the decades leading up to 2023 in the context of its history, culture, and politics. The case gives an overview of some of the main... View Details

Keywords: Business and Government Relations; Technological Innovation; Foreign Direct Investment; Economic Growth; Financial Crisis; Technology Industry; Technology Industry; Technology Industry; Greece; Athens

October 2003 (Revised February 2004)
Case

Dividend Policy at Linear Technology

By: Malcolm P. Baker and Alison Berkley Wagonfeld

In 1992, Linear Technology, a designer and manufacturer of analog semiconductors, initiated a dividend. The firm increased its dividend by approximately $0.01 per share each year thereafter. In fiscal year 2002, Linear experienced its first significant drop in sales... View Details

Keywords: Financial Strategy; Investment Return; Financial Condition; Taxation; Initial Public Offering; Financial Management; Semiconductor Industry

Forthcoming
Article

You've Got Mail! The Late 19th-Century U.S. Postal Service Expansion, Firm Creation, and Firm Performance

By: Astrid Marinoni and Maria P. Roche

This paper examines the impact of the expansion of the US Postal Service in the late 19th century on firm creation and performance. Utilizing newly digitized archival data on historic business establishments, post office locations, and road networks in California,... View Details

Keywords: Institutional Innovation; Knowledge Exchange; US Postal Service; Firm Performance; Infrastructure; Expansion; Government Administration; Communication; Business History; Entrepreneurship; Public Administration Industry; California

Find at Harvard

June 2011 (Revised June 2013)
Case

Sino-Ocean Land: Responding to Change

By: Nicolas P. Retsinas, Jeffrey Hu and Runjiao Xu

In 2010, Sino-Ocean Land Holdings Limited was a highly successful, large real estate developer based in Beijing, China. Sino-Ocean Land had three main business segments—property development, property investment/management, and other real estate related businesses. From... View Details

Keywords: Organizational Change and Adaptation; Strategic Planning; Diversification; Property; Policy; State Ownership; Business Strategy; Business and Government Relations; Real Estate Industry; Beijing

2009
Working Paper

Systemic Risk and the Refinancing Ratchet Effect

By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton

The confluence of three trends in the U.S. residential housing market—rising home prices, declining interest rates, and near-frictionless refinancing opportunities—led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details

Keywords: Housing; Mortgages; Risk and Uncertainty; Value; Mathematical Methods; Real Estate Industry; United States

Web

Business Economics Online Course | HBS Online

4 Markets Apply market principles to analyze industries in which no traditional market functions. Highlights The Concept of Market Equilibrium Internet versus Traditional Retail Prediction Markets Show Hide Details Concepts Market... View Details

28 Mar 2016
Blog Post

Why I Chose to Pursue an MD/MBA at Harvard

got about pursuing an MD and an MBA was to do it, and to do it while I was still in medical school. As Harvard Medical students, we can do an MBA at HBS in just one extra year instead of two, which makes it an attractive option. I saw an MBA as a way to learn about the... View Details

September 2020 (Revised November 2020)
Case

d.light

By: Michael Chu, Krishna G. Palepu and Dilyana Karadzhova Botha

Kenyan off-grid-solar pioneer d.light can power entire homes in rural Africa but must now decide how to fund the growth of its asset-heavy business model. Ned Tozun and Sam Goldman founded d.light in 2006 to transform lives through solar solutions enabling access to... View Details

Keywords: Alternative Energy; Business Model; Capital; Emerging Markets; Expansion; Financial Strategy; Renewable Energy; Strategy; Social Entrepreneurship; Energy Industry; Africa; Kenya; India

August 2023 (Revised December 2023)
Case

Money Fellows: The Quest for Expansion

By: Álvaro Rodríguez Arregui, Michael Chu and Ahmed Dahawy

This case explores the opportunities and challenges associated with expanding the operations of a complex entrepreneurial business model. It highlights how cultural aspects of different geographies impact a startup's operational and economic models. The case also... View Details

Keywords: Business Model; Developing Countries and Economies; Geographic Scope; Business Strategy; Mobile and Wireless Technology; Cross-Cultural and Cross-Border Issues; Business and Shareholder Relations; Financial Services Industry; Financial Services Industry; Egypt

01 Mar 2014
News

Generation Next

Nisa Godrej Illustration by Anita Kunz In the summer of 2007, Mark Kahn (MBA 2006) received an unusual call from Mumbai. A former HBS classmate had a problem. She wanted him to look over strategic and financial documents for a diversified... View Details

Keywords: Mark Bergen; Godrej Group; Management

October 2009 (Revised April 2010)
Case

Societe Generale (A): The Jerome Kerviel Affair

By: Francois Brochet

This case illustrates the tension/balance that firms with complex and risky business models must consider in designing their internal controls. It describes the environment in which a derivatives trader engaged in massive directional positions on major European stocks... View Details

Keywords: Risk Management; Problems and Challenges; Complexity; Cost Management; Balance and Stability; Business Model; Design; Stocks; Crisis Management; Financial Markets; Consulting Industry; Europe

March 2009 (Revised May 2011)
Case

The Credit Suisse/Gerson Lehrman Group Alliance

By: Robert G. Eccles and Laura Winig

The equity research department of Credit Suisse and the expert network firm of Gerson Lehrman Group, historically competitors, have established a strategic alliance which both believe will give them a competitive advantage. Under the leadership of its head of equity... View Details

Keywords: Business Model; Financial Crisis; Investment Banking; Innovation and Invention; Alliances; Social and Collaborative Networks; Competitive Advantage; Banking Industry