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  • 10 Jun 2013
  • Research & Ideas

How Numbers Talk to People

The problem with big data is that there is, well, so much of it. Analyzing it is like trying to sip from a firehose. Just in time, a new book on the art and science of quantitative analysis arrives this week. In Keeping Up with the... View Details
  • 2014
  • Other Unpublished Work

No Margin, No Mission? A Field Experiment on Incentives for Public Services Delivery

By: Nava Ashraf, Oriana Bandiera and Kelsey Jack
A substantial body of research investigates the effect of pay for performance in firms, yet less is known about the effect of non-financial rewards, especially in organizations that hire individuals to perform tasks with positive social spillovers. We conduct a field... View Details
Keywords: Incentives; Non-monetary Rewards; Intrinsic Motivation; Mission and Purpose; Social Enterprise; Motivation and Incentives
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Ashraf, Nava, Oriana Bandiera, and Kelsey Jack. "No Margin, No Mission? A Field Experiment on Incentives for Public Services Delivery." (March 2014. Conditionally accepted, Journal of Public Economics.)
  • December 2022
  • Article

Initial Coin Offering (ICO) Success and Post-ICO Performance

By: Evgeny Lyandres, Berardino Palazzo and Daniel Rabetti
We compile a comprehensive data set of initial coin offerings (ICOs) from 19 data sources including 11 ICO aggregators. We alleviate severe limitations of available ICO data by performing the first systematic analysis of ICO data quality. We use our data set to study... View Details
Keywords: Cryptocurrency; Investment Return; Entrepreneurial Finance; Success; Performance
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Lyandres, Evgeny, Berardino Palazzo, and Daniel Rabetti. "Initial Coin Offering (ICO) Success and Post-ICO Performance." Management Science 68, no. 12 (December 2022): 8658–8679.
  • March 2006
  • Module Note

Financing Decisions within the Firm

By: Mihir A. Desai and Kathleen Luchs
Describes a core module in the International Finance course at Harvard Business School. The module focuses on the financial and managerial issues that confront managers who make financial decisions within multinational firms: how subsidiaries should be financed and... View Details
Keywords: Decisions; International Finance; Taxation; Business Subsidiaries; Multinational Firms and Management; Framework; Performance Evaluation; Management Analysis, Tools, and Techniques
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Desai, Mihir A., and Kathleen Luchs. "Financing Decisions within the Firm." Harvard Business School Module Note 206-124, March 2006.
  • December 2014
  • Article

No Margin, No Mission? A Field Experiment on Incentives for Public Services Delivery

By: Nava Ashraf, Oriana Bandiera and B. Kelsey Jack
A substantial body of research investigates the effect of pay for performance in firms, yet less is known about the effect of non-financial rewards, especially in organizations that hire individuals to perform tasks with positive social spillovers. We conduct a field... View Details
Keywords: Incentives; Non-monetary Rewards; Intrinsic Motivation; Motivation and Incentives; Employees; Service Industry; Health Industry
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Ashraf, Nava, Oriana Bandiera, and B. Kelsey Jack. "No Margin, No Mission? A Field Experiment on Incentives for Public Services Delivery." Journal of Public Economics 120 (December 2014): 1–17.
  • July 2016 (Revised January 2017)
  • Case

Banking on Change: Aligning Culture and Compensation at Morgan Stanley

By: Malcolm S. Salter
This case study was prepared as part of a research project on Culture, Conduct, and Governance in Financial Firms. The objective of this project is to compare and contrast the efforts of U.S. and European banks to induce changes in organization culture in the aftermath... View Details
Keywords: Business or Company Management; Corporate Accountability; Ethics; Organizational Culture; Corporate Governance; Banks and Banking; United States; Europe
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Salter, Malcolm S. "Banking on Change: Aligning Culture and Compensation at Morgan Stanley." Harvard Business School Case 917-402, July 2016. (Revised January 2017.)
  • August 2022 (Revised June 2024)
  • Exercise

How Should Netflix Add an Ad-Supported Tier?

By: Elie Ofek and Olivier Toubia
In the summer of 2022, it became clear that Netflix would introduce an ad-supported tier alongside its existing subscription plans in the near future. Speculation abounded as to the details of the new tier: How many minutes of advertising would it include? What picture... View Details
Keywords: Pricing; Television Industry; Price; Marketing Strategy; Digital Platforms; Customer Value and Value Chain; Competitive Strategy; Customer Satisfaction; Entertainment and Recreation Industry
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Ofek, Elie, and Olivier Toubia. "How Should Netflix Add an Ad-Supported Tier?" Harvard Business School Exercise 523-033, August 2022. (Revised June 2024.)
  • February 2017
  • Case

Valerie Daniels-Carter: High Growth Entrepreneurship via Franchising

By: Steven Rogers and Alyssa Haywoode
This case looks at entrepreneurship via franchising through the leadership of an African-American entrepreneur who owns almost 150 stores including Burger King, Pizza Huts, and Auntie Anne’s Pretzels. Her company is the largest female-owned franchise business in the... View Details
Keywords: Giving And Philanthropy; Weather And Climate Change; Franchise Ownership; Family Business; Experience and Expertise; Decisions; Borrowing and Debt; Food; Philanthropy and Charitable Giving; Business History; Climate Change; Motivation and Incentives; Food and Beverage Industry
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Rogers, Steven, and Alyssa Haywoode. "Valerie Daniels-Carter: High Growth Entrepreneurship via Franchising." Harvard Business School Case 317-030, February 2017.
  • July 2016
  • Article

Kicking Off Social Entrepreneurship: How A Sustainability Orientation Influences Crowdfunding Success

By: Goran Calic and Elaine Mosakowski
Research generally suggests that, relative to commercial entrepreneurs, social entrepreneurs stand at a disadvantage at acquiring resources through traditional financial institutions. Yet interest in social entrepreneurship appears to be at an all-time high. The... View Details
Keywords: Crowdfunding; Entrepreneurial Finance; Social Entrepreneurship; Capital; Environmental Sustainability
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Calic, Goran, and Elaine Mosakowski. "Kicking Off Social Entrepreneurship: How A Sustainability Orientation Influences Crowdfunding Success." Journal of Management Studies 53, no. 5 (July 2016): 738–767.
  • 2009
  • Working Paper

Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act

By: Dhammika Dharmapala, C. Fritz Foley and Kristin J. Forbes
This paper analyzes the impact on firm behavior of the Homeland Investment Act of 2004, which provided a one-time tax holiday for the repatriation of foreign earnings by U.S. multinationals. The analysis controls for endogeneity and omitted variable bias by using... View Details
Keywords: Investment; Multinational Firms and Management; Government Legislation; Taxation; Business and Shareholder Relations; Behavior; United States
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Dharmapala, Dhammika, C. Fritz Foley, and Kristin J. Forbes. "Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act." NBER Working Paper Series, No. 15023, June 2009.
  • May 2014
  • Article

Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment

By: Shawn A. Cole, Daniel Stein and Jeremy Tobacman
This paper estimates how experimentally-manipulated experiences with a novel financial product, rainfall index insurance, affect subsequent insurance demand. Using a seven-year panel, we develop three main findings. First, recent experience matters for demand,... View Details
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Cole, Shawn A., Daniel Stein, and Jeremy Tobacman. "Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment." American Economic Review: Papers and Proceedings 104, no. 5 (May 2014): 284–290.
  • 2016
  • Working Paper

The Attenuating Effect of Banking Relationships on Credit Market Disruption

By: Stefan Dimitriadis and Mike Horia Teodorescu
This article examines how the relationship between banks and corporations moderates the effect of credit market disruptions. The 2008-09 financial crisis led to a dramatic restriction in the supply of credit to corporations via the syndicated loan market... View Details
Keywords: Banks and Banking; Relationships; Financial Markets; System Shocks; Banking Industry; United States
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Dimitriadis, Stefan, and Mike Horia Teodorescu. "The Attenuating Effect of Banking Relationships on Credit Market Disruption." Working Paper, July 2016.
  • July 1997
  • Article

The Presidio Trust legislation: Preservation or Privatization?

By: Brian Trelstad
This analysis of the Presidio Trust legislation places the recent developments on the Presidio in the context of a century and a half of environmental planning. By first exploring the Presidio's history, and then tracing the more recent legislative background to the... View Details
Keywords: Presidio; Presidio Trust; National Parks; Urban Parks; Public-private Management; Natural Environment; Urban Scope; Planning
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Trelstad, Brian. "The Presidio Trust legislation: Preservation or Privatization?" Urban Ecosystems 1, no. 3 (July 1997): 135–153.
  • April 2008
  • Tutorial

Finance: An Introductory Online Course

By: Timothy A. Luehrman, Brenda W. Chia and Michelle Rendall
The Finance Online Course provides a fundamental understanding of the principles, analytical tools, and knowledge needed to make good investment and financing decisions. The course introduces students to finance ratios, forecasting methods, capital structure theory,... View Details
Keywords: Financial Management; Forecasting and Prediction; Investment; Corporate Finance
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"Finance: An Introductory Online Course." Harvard Business School Tutorial 208-719, April 2008.
  • May 2014
  • Article

Incorporating Field Data into Archival Research

By: Eugene F. Soltes
I explore the use of field data in conjunction with archival evidence by examining Iliev, Miller, and Roth's (2014) analysis of an amendment to the Securities Exchange Act of 1934. This regulatory amendment allowed depositary banks to cross-list firms without the... View Details
Keywords: Analytics and Data Science; Research; Financial Reporting
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Soltes, Eugene F. "Incorporating Field Data into Archival Research." Journal of Accounting Research 52, no. 2 (May 2014): 521–540.
  • January 2025
  • Case

Hebbia: Redefining Productivity for Knowledge Workers Using AI

By: Suraj Srinivasan and Minoshka Narayan
In early 2025, George Sivulka, founder and CEO of Hebbia, reflected on the company’s rapid ascent as a pioneer in GenAI-powered productivity tools for knowledge workers. With its proprietary technology, Hebbia had redefined information retrieval and analysis and earned... View Details
Keywords: Transformation; Customer Relationship Management; AI and Machine Learning; Innovation and Management; Innovation Strategy; Service Delivery; Technological Innovation; Growth and Development Strategy; Competitive Strategy; Financial Services Industry; Financial Services Industry; Financial Services Industry; United States; New York (city, NY)
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Srinivasan, Suraj, and Minoshka Narayan. "Hebbia: Redefining Productivity for Knowledge Workers Using AI." Harvard Business School Case 125-075, January 2025.
  • 2016
  • Working Paper

Options-Pricing Formula with Disaster Risk

By: Robert J. Barro and Gordon Y. Liao
A new options-pricing formula applies to far-out-of-the money put options on the overall stock market when disaster risk is the dominant force, the size distribution of disasters follows a power law, and the economy has a representative agent with Epstein-Zin utility.... View Details
Keywords: Option Pricing; Rare Disaster; Price; Stock Options; Financial Crisis
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Barro, Robert J., and Gordon Y. Liao. "Options-Pricing Formula with Disaster Risk." NBER Working Paper Series, No. 21888, January 2016.
  • 23 Aug 2021
  • Research & Ideas

Why White-Collar Crime Spiked in America After 9/11

After the 9/11 terrorist attacks, the FBI shifted financial resources and hundreds of agents toward combatting terrorism, unintentionally weakening the agency’s ability to investigate white-collar crime in America, research shows. As a... View Details
Keywords: by Jay Fitzgerald
  • August 2008
  • Case

Thoma Bravo - Citect Corporation Take-Private

In 2006, Citect Corporation, a publicly traded Australian software company, was the target of a takeover battle between a financial sponsor and a strategic buyer. Thoma Bravo, the U.S.-based private equity firm, had to decide on its acquisition strategy in the face of... View Details
Keywords: Mergers and Acquisitions; Private Equity; Investment; Negotiation Deal; Privatization; Valuation; Australia
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El-Hage, Nabil N., and Michelle Cathryne Simon. "Thoma Bravo - Citect Corporation Take-Private." Harvard Business School Case 209-022, August 2008.
  • 2008
  • Working Paper

Welfare Payments and Crime

By: C. Fritz Foley
This paper tests the hypothesis that the timing of welfare payments affects criminal activity. Analysis of daily reported incidents of major crimes in twelve U.S. cities reveals an increase in crime over the course of monthly welfare payment cycles. This increase... View Details
Keywords: Crime and Corruption; Motivation and Incentives; Welfare; United States
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Foley, C. Fritz. "Welfare Payments and Crime." NBER Working Paper Series, No. 14074, June 2008.
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