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All HBS Web
(3,730)
- People (13)
- News (847)
- Research (1,952)
- Events (21)
- Multimedia (3)
- Faculty Publications (762)
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- 2021
- Working Paper
The Value of Intermediation in the Stock Market
By: Marco Di Maggio, Mark Egan and Francesco Franzoni
We estimate a structural model of broker choice to quantitatively decompose the value that institutional investors attach to broker services. Studying over 300 million institutional equity trades, we find that investors are sensitive to both explicit and implicit...
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Keywords:
Financial Intermediation;
Institutional Investors;
Research Analysts;
Broker Networks;
Equity Trading;
Institutional Investing;
Financial Services Industry
Di Maggio, Marco, Mark Egan, and Francesco Franzoni. "The Value of Intermediation in the Stock Market." Harvard Business School Working Paper, No. 20-016, August 2019. (Revised June 2021. Accepted at the Journal of Financial Economics.)
- March 2009 (Revised May 2009)
- Background Note
Executing Strategy
By: J. Bruce Harreld
This is a note to introduce the principles for effectively implementing a new strategy. It emphasizes the interdependence of strategy and execution in developing and sustaining superior competitive performance. Primarily based on the notion that strategy should be a...
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Harreld, J. Bruce. "Executing Strategy." Harvard Business School Background Note 809-126, March 2009. (Revised May 2009.)
- September 2016
- Article
History-based versus Uniform Pricing in Growing and Declining Markets
By: Oz Shy, Rune Stenbacka and David Hao Zhang
We analyze the Markov Perfect Equilibria of an infinite-horizon overlapping generations model with consumer lock-in to compare the performance of history-based and uniform pricing in growing and declining markets. Under history-based pricing, firms charge higher prices...
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Keywords:
History-based Pricing;
Introductory Discount;
Uniform Pricing;
Consumer Lock-in;
High Switching Costs;
Demand and Consumers;
Competition;
Price;
Market Entry and Exit;
Product Marketing
Shy, Oz, Rune Stenbacka, and David Hao Zhang. "History-based versus Uniform Pricing in Growing and Declining Markets." International Journal of Industrial Organization 48 (September 2016): 88–117.
- 20 Oct 2011
- Research & Ideas
Getting the Marketing Mix Right
what is called the Invariant Proportion of Substitution (IPS) property, which implies that the proportion of demand generated by taking business away from a competitor is the same, no matter which marketing activity is used. "These...
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Keywords:
by Dina Gerdeman
- January 1996 (Revised March 2000)
- Case
R.R. Donnelley & Sons: The Digital Division
By: David A. Garvin and Artemis March
In June 1995, Barbara Schetter, VP and general manager of R.R. Donnelley's Digital Division, is struggling to gain acceptance from other groups and divisions at the printing giant. The Digital Division employs radically new technology--digital printing presses and...
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Keywords:
Business Divisions;
Business Model;
Business Plan;
Leading Change;
Problems and Challenges;
Groups and Teams;
Technology Adoption;
Value Creation
Garvin, David A., and Artemis March. "R.R. Donnelley & Sons: The Digital Division." Harvard Business School Case 396-154, January 1996. (Revised March 2000.)
- 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...
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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
Rogers, Steven, and Alyssa Haywoode. "Valerie Daniels-Carter: High Growth Entrepreneurship via Franchising." Harvard Business School Case 317-030, February 2017.
- 2018
- Working Paper
Diagnostic Bubbles
By: Pedro Bordalo, Nicola Gennaioli, Spencer Yongwook Kwon and Andrei Shleifer
We introduce diagnostic expectations into a standard setting of price formation in which investors learn about the fundamental value of an asset and trade it. We study the interaction of diagnostic expectations with two well-known mechanisms: learning from prices and...
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Bordalo, Pedro, Nicola Gennaioli, Spencer Yongwook Kwon, and Andrei Shleifer. "Diagnostic Bubbles." NBER Working Paper Series, No. 25399, December 2018.
- Article
Towards a Single European Sky
By: Yael Grushka-Cockayne and Bert De Reyck
We describe an integrated decision-making framework and model that we developed to aid EUROCONTROL, the European air traffic management organization, in its vital role of constructing a single unified European sky. Combining multicriteria decision analysis with...
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Grushka-Cockayne, Yael, and Bert De Reyck. "Towards a Single European Sky." Interfaces 39, no. 5 (September–October 2009): 400–414.
- 30 May 2023
- Research & Ideas
Can AI Predict Whether Shoppers Would Pick Crest or Colgate?
but large language models like generative pre-trained transformers (GPTs) may allow companies to rely on AI to uncover consumers’ tastes, according to new research from Harvard Business School and Microsoft....
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Keywords:
by Kristen Senz
- March 2021
- Article
The Variation in Capacity Remuneration Requirements in European Electricity Markets
By: Conor Hickey, Derek Bunn, Paul Deane, Celine McInerney and Brian O' Gallachoir
This paper provides the first EU wide analysis of the variation in Capacity Remuneration Requirements throughout Europe which aim to resolve the “missing money” problems in various member states. The findings of this analysis point to an asymmetric investment case for...
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Hickey, Conor, Derek Bunn, Paul Deane, Celine McInerney, and Brian O' Gallachoir. "The Variation in Capacity Remuneration Requirements in European Electricity Markets." Energy Journal 42, no. 2 (March 2021): 135–164.
- Article
Corruption and Firms
By: Emanuele Colonnelli and Mounu Prem
We estimate the causal real economic effects of a randomized anti-corruption crackdown on local governments in Brazil using rich micro-data on corruption and firms. After anti-corruption audits, municipalities experience an increase in the number of firms concentrated...
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Colonnelli, Emanuele, and Mounu Prem. "Corruption and Firms." Review of Economic Studies 89, no. 2 (March 2022): 695–732.
- Article
No Taxation Without Information: Deterrence and Self-Enforcement in the Value Added Tax
By: Dina Pomeranz
Claims that the VAT facilitates tax enforcement by generating paper trails on transactions between firms contributed to widespread VAT adoption worldwide, but there is surprisingly little evidence. This paper analyzes the role of third-party information for VAT...
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Pomeranz, Dina. "No Taxation Without Information: Deterrence and Self-Enforcement in the Value Added Tax." American Economic Review 105, no. 8 (August 2015): 2539–2569. (Featured by CNN, Vox.eu, World Bank News, Bloomberg News and others.)
- December 2007
- Article
Fair (and Not So Fair) Division
By: John W. Pratt
Drawbacks of existing procedures are illustrated and a method of efficient fair division is proposed that avoids them. Given additive participants' utilities, each item is priced at the geometric mean (or some other function) of its two highest valuations. The...
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Pratt, John W. "Fair (and Not So Fair) Division." Journal of Risk and Uncertainty 35, no. 3 (December 2007).
- July 2022
- Case
Yinglan Tan: Scaling a Venture Capital Firm in Southeast Asia
By: Josh Lerner and Richard Zhu
Yinglan Tan considered the future of his young Singapore-based venture capital firm. On the one hand, the intuition that was behind the initial creation of Insignia in 2017 had been proven correct. The venture capital market in Southeast Asia had grown rapidly, driven...
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Keywords:
E-commerce;
Scalability;
Globalized Markets and Industries;
Venture Capital;
International Finance;
Growth and Development;
Expansion
Lerner, Josh, and Richard Zhu. "Yinglan Tan: Scaling a Venture Capital Firm in Southeast Asia." Harvard Business School Case 823-025, July 2022.
- February 2015
- Case
Continental Hope Group
By: Christopher Marquis and Qi Li
This case provides an opportunity to examine and discuss how a traditional Chinese private business was launched and developed into a globalizing, multi-industry corporation. It also highlights how second generation entrepreneurs successfully developed an innovative...
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Keywords:
Globalization;
China;
Technology;
Real Estate;
Talent Retention;
Incentives;
Talent and Talent Management;
Diversification;
Family Business;
Business Growth and Maturation;
Entrepreneurship;
Global Strategy;
Construction Industry;
Tourism Industry;
Energy Industry;
Real Estate Industry;
Chemical Industry;
China
Marquis, Christopher, and Qi Li. "Continental Hope Group." Harvard Business School Case 415-050, February 2015.
- August 2020
- Article
Macroeconomic Drivers of Bond and Equity Risks
By: John Y. Campbell, Carolin E. Pflueger and Luis M. Viceira
Our new model of consumption-based habit generates time-varying risk premia on bonds and stocks from loglinear, homoskedastic macroeconomic dynamics. Consumers' first-order condition for the real risk-free bond generates an exactly loglinear consumption Euler equation,...
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Keywords:
Consumption-based Habit Formation;
Consumption Euler Equation;
Time-varying Risk Premia;
Inflation Dynamics;
Bond-stock Correlation;
Risk and Uncertainty;
Bonds;
Macroeconomics
Campbell, John Y., Carolin E. Pflueger, and Luis M. Viceira. "Macroeconomic Drivers of Bond and Equity Risks." Journal of Political Economy 128, no. 8 (August 2020): 3148–3185.
- 02 Jul 2009
- Working Paper Summaries
Technology Innovation and Diffusion as Sources of Output and Asset Price Fluctuations
- 2023
- Chapter
Marketing Through the Machine’s Eyes: Image Analytics and Interpretability
By: Shunyuan Zhang, Flora Feng and Kannan Srinivasan
he growth of social media and the sharing economy is generating abundant unstructured image and video data. Computer vision techniques can derive rich insights from unstructured data and can inform recommendations for increasing profits and consumer utility—if only the...
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Zhang, Shunyuan, Flora Feng, and Kannan Srinivasan. "Marketing Through the Machine’s Eyes: Image Analytics and Interpretability." Chap. 8 in Artificial Intelligence in Marketing. 20, edited by Naresh K. Malhotra, K. Sudhir, and Olivier Toubia. Review of Marketing Research. Emerald Publishing Limited, forthcoming.
- Forthcoming
- Article
Enterprise Resource Planning (ERP) System Implementations and Corporate Misconduct
By: Jonas Heese and Joseph Pacelli
This study examines whether enterprise resource planning (ERP) implementations are associated with reductions in corporate misconduct. Specifically, we study the relation between staggered facility-level rollouts of ERP systems and facility-level regulatory violations...
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Heese, Jonas, and Joseph Pacelli. "Enterprise Resource Planning (ERP) System Implementations and Corporate Misconduct." Accounting Review (forthcoming). (Pre-published online September 5, 2024.)
- January 2015 (Revised January 2018)
- Technical Note
Note on Comparative Capitalism
By: Clayton S. Rose and Rebecca Henderson
This note draws on academic work, as well as social and economic data across several countries, to provide a basic understanding of some of the differences among capitalist systems. It begins with a description of the system of capitalism, and characteristics that to a...
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Keywords:
Capitalism;
Global;
Economic Systems;
Global Range;
Japan;
Germany;
China;
United States;
Sweden
Rose, Clayton S., and Rebecca Henderson. "Note on Comparative Capitalism." Harvard Business School Technical Note 315-077, January 2015. (Revised January 2018.)