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  • All HBS Web  (6,449)
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  • 11 Oct 2016
  • Working Paper Summaries

Corporate Purpose and Financial Performance

Keywords: by Claudine Gartenberg, Andrea Prat, and George Serafeim
  • September–October 2020
  • Article

Social-Impact Efforts That Create Real Value

By: George Serafeim
Until the mid-2010s few investors paid attention to environmental, social, and governance (ESG) data—information about companies’ carbon footprints, labor policies, board makeup, and so forth. Today the data is widely used by investors. How can organizations create... View Details
Keywords: Sustainability; Sustainability Management; ESG; ESG (Environmental, Social, Governance) Performance; ESG Disclosure; ESG Disclosure Metrics; ESG Ratings; ESG Reporting; Social Impact; Impact Measurement; Social Innovation; Purpose; Corporate Purpose; Corporate Social Responsibility; Strategy; Social Enterprise; Society; Accounting; Investment; Environmental Sustainability; Climate Change; Corporate Strategy; Mission and Purpose; Corporate Social Responsibility and Impact; Financial Services Industry; Chemical Industry; Technology Industry; Consumer Products Industry; Pharmaceutical Industry; North America; Europe; Japan; Australia
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Serafeim, George. "Social-Impact Efforts That Create Real Value." Harvard Business Review 98, no. 5 (September–October 2020): 38–48.
  • March 2006 (Revised November 2007)
  • Case

Manchester Bidwell Corporation (A)

By: James L. Heskett
The head of Manchester Bidwell Corp. ponders what it will take to replicate its social services in 100 cities across North America and internationally--an effort that ultimately would cost several hundred million dollars. View Details
Keywords: Cost vs Benefits; Social Entrepreneurship; Leadership Style; Growth Management; Welfare; North and Central America
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Heskett, James L. "Manchester Bidwell Corporation (A)." Harvard Business School Case 806-111, March 2006. (Revised November 2007.)
  • 2025
  • Working Paper

Corporate Actions as Moral Issues

By: Zwetelina Iliewa, Elisabeth Kempf and Oliver Spalt
We examine nonpecuniary preferences across a broad set of corporate actions using a representative sample of the U.S. population. Our core findings, based on large-scale online surveys, are that (i) self-reported nonpecuniary concerns are large both for stock market... View Details
Keywords: Public Opinion; Corporate Social Responsibility and Impact; Moral Sensibility
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Iliewa, Zwetelina, Elisabeth Kempf, and Oliver Spalt. "Corporate Actions as Moral Issues." NBER Working Paper Series, No. 33749, May 2025.
  • 2024
  • Working Paper

Corporate Culture Homogeneity and Top Executive Incentive Design: Evidence from CEO Compensation Contracts

By: Dennis Campbell, Ruidi Shang and Zhifang Zhang
We examine how corporate cultures characterized by high degrees of homogeneity in the underlying values and beliefs of organizational members are related to the design of CEO incentive compensation contracts. We argue that culture homogeneity within firms lowers... View Details
Keywords: Corporate Culture; Compensation Design; Accounting; Management Control; Incentive Systems; Organizational Culture; Job Design and Levels; Governance; Executive Compensation; Motivation and Incentives
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Campbell, Dennis, Ruidi Shang, and Zhifang Zhang. "Corporate Culture Homogeneity and Top Executive Incentive Design: Evidence from CEO Compensation Contracts." Harvard Business School Working Paper, No. 24-054, February 2024.
  • 2007
  • Book

From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession

By: Rakesh Khurana
Is management a profession? Should it be? Can it be? This major work of social and intellectual history reveals how such questions have driven business education and shaped American management and society for more than a century. The book is also a call for reform.... View Details
Keywords: Social History; Business Education; Moral Sensibility; Profit; Leadership; Managerial Roles; United States
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Khurana, Rakesh. From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession. Princeton: Princeton University Press, 2007. (Winner of Association of American Publishers Best Professional/Scholarly Publishing Book in Business, Finance and Management. Winner of Max Weber Award for Distinguished Scholarship for the book which makes an outstanding contribution to scholarship on organizations, occupations, and/or work presented by American Sociological Association.)
  • April 1990
  • Supplement

Philip Morris Companies' ""Bill of Rights"" Sponsorship Program, Responses

By: Stephen A. Greyser and Norman Klein
Describes the reactions of public interest groups, members of the House of Representatives, and others. Further documents reactions to the choice of Philip Morris (PM) as a sponsor. Invites students to weigh the corporate pluses and minuses for PM, given these... View Details
Keywords: Marketing Channels; Behavior; Public Opinion; Segmentation
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Greyser, Stephen A., and Norman Klein. Philip Morris Companies' ""Bill of Rights"" Sponsorship Program, Responses. Harvard Business School Supplement 590-109, April 1990.
  • 2015
  • Chapter

Managerial Responsibility and the Purpose of Business: Doing One's Job Well

By: Nien-he Hsieh
Business managers routinely make decisions that significantly affect the lives of others in both positive and negative ways. In the light of these wide-ranging effects, much scholarship has been devoted to specifying the responsibilities of managers of for-profit... View Details
Keywords: Business or Company Management; Goals and Objectives
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Hsieh, Nien-he. "Managerial Responsibility and the Purpose of Business: Doing One's Job Well." Chap. 5 in Ethical Innovation in Business and the Economy, edited by Georges Enderle and Patrick E. Murphy, 95–118. Studies in Transatlantic Business Ethics. Northhampton, MA: Edward Elgar Publishing, 2015.
  • August 2015
  • Teaching Note

Rana Plaza (C): Primark and Victim Compensation

By: John A. Quelch
Keywords: Corporate Social Responsibility; Business Ethics; Human Resource Management; Workplace Safety; Safety; Working Conditions; Supply Chain Management; Ethics; Corporate Social Responsibility and Impact; Human Resources
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Quelch, John A. "Rana Plaza (C): Primark and Victim Compensation." Harvard Business School Teaching Note 516-019, August 2015.
  • 2004
  • Chapter

Genzyme's Gaucher Initiative: Global Risk and Responsibility

By: Christopher A. Bartlett and Andrew N. McLean
Keywords: Health Disorders; Corporate Social Responsibility and Impact; Globalization; Risk and Uncertainty; Health Industry; Biotechnology Industry
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Bartlett, Christopher A., and Andrew N. McLean. "Genzyme's Gaucher Initiative: Global Risk and Responsibility." Chap. 22 in Problems and Cases in Health Care Marketing, edited by John T. Gourville, John A. Quelch, and V. Kasturi Rangan, 411–434. New York: McGraw-Hill/Irwin, 2004.
  • June, 2025
  • Article

Social Security and Trends in Wealth Inequality

By: Sylvain Catherine, Max Miller and Natasha Sarin
Recent influential work finds large increases in inequality in the U.S. based on measures of wealth concentration that notably exclude the value of social insurance programs. This paper shows that top wealth shares have not changed much over the last three decades when... View Details
Keywords: Wealth; Equality and Inequality; Taxation; Insurance; Welfare
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Catherine, Sylvain, Max Miller, and Natasha Sarin. "Social Security and Trends in Wealth Inequality." Journal of Finance 80, no. 3 (June, 2025): 1497–1531.
  • October 2008
  • Article

Organizational Responses to Environmental Demands: Opening the Black Box

By: Magali Delmas and Michael W. Toffel
This paper combines new and old institutionalism to explain differences in organizational strategies. We propose that differences in the influence of corporate departments lead their facilities to prioritize different external pressures and thus adopt different... View Details
Keywords: Environmental Sustainability; Management Practices and Processes; Decisions; Adoption
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Delmas, Magali, and Michael W. Toffel. "Organizational Responses to Environmental Demands: Opening the Black Box." Strategic Management Journal 29, no. 10 (October 2008): 1027–1055.
  • 02 Feb 2023
  • Research & Ideas

Why We Still Need Twitter: How Social Media Holds Companies Accountable

specifically, play a strong role in keeping corporations accountable to customers, employees, and other stakeholders. With the decline in traditional media sources, particularly amid the closure of many local newspapers, Heese and Pacelli... View Details
Keywords: by Kasandra Brabaw; Technology
  • March 2015
  • Case

Statoil: Transparency on Payments to Governments

By: George Serafeim
The Statoil case describes the challenge of increasing transparency, in extractive industries, around host county government payments. The case describes Statoil's reasoning behind voluntarily disclosing host country government payments, and the events that led to this... View Details
Keywords: Corruption; Disclosure; Disclosure Strategy; Regulation; Industry Self-regulation; Corporate Governance; Corporate Accountability; Bribery; Sustainability; Corporate Social Responsibility; Government Legislation; Cost vs Benefits; Corporate Disclosure; Mining; Mining Industry; United States
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Serafeim, George, Paul M. Healy, and Jérôme Lenhardt. "Statoil: Transparency on Payments to Governments." Harvard Business School Case 115-049, March 2015.
  • September 2002 (Revised August 2003)
  • Case

Genzyme's Gaucher Initiative: Global Risk and Responsibility

By: Christopher A. Bartlett and Andrew N. McLean
In Egypt, Genzyme's humanitarian commitment to treat all sufferers of the rare Gaucher disease worldwide first confronts its commercial imperative to recoup the huge investment required to bring the drug Cerezyme to market. Here Tomye Tierney must decide how to balance... View Details
Keywords: Moral Sensibility; Investment; Emerging Markets; Negotiation; Corporate Social Responsibility and Impact; Business and Government Relations; Sales; Commercialization; Expansion; Value Creation
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Bartlett, Christopher A., and Andrew N. McLean. "Genzyme's Gaucher Initiative: Global Risk and Responsibility." Harvard Business School Case 303-048, September 2002. (Revised August 2003.)
  • March 2008 (Revised December 2011)
  • Case

IBM Values and Corporate Citizenship

By: Rosabeth M. Kanter
IBM's transformation into a globally integrated enterprise (GIE) began with a conviction about what should never change. Since its founding in 1911, the company operated under a set of principles articulated by founder Thomas Watson and became known for a strong... View Details
Keywords: Values and Beliefs; Globalized Firms and Management; Technological Innovation; Leading Change; Corporate Social Responsibility and Impact; Organizational Change and Adaptation; Organizational Culture; Integration
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Kanter, Rosabeth M. "IBM Values and Corporate Citizenship." Harvard Business School Case 308-106, March 2008. (Revised December 2011.)
  • January 2004 (Revised May 2008)
  • Case

Johnson & Johnson's Corporate Credo

By: Thomas R. Piper
No corporate credo is better known than that of Johnson & Johnson. Describes the history of the credo, including the credo challenge initiated by the CEO, James Burke, in 1975 and the role the credo played during the Tylenol poisoning crisis. View Details
Keywords: History; Mission and Purpose; Goals and Objectives; Corporate Accountability; Reputation; Crisis Management; Corporate Governance; Management Teams
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Piper, Thomas R. "Johnson & Johnson's Corporate Credo." Harvard Business School Case 304-084, January 2004. (Revised May 2008.)
  • 2007
  • Working Paper

Accountability in Complex Organizations: World Bank Responses to Civil Society

By: Alnoor Ebrahim and Steve Herz
Civil society actors have been pushing for greater accountability of the World Bank for at least three decades. This paper outlines the range of accountability mechanisms currently in place at the World Bank along four basic levels: (1) staff, (2) project, (3) policy,... View Details
Keywords: Corporate Accountability; Corporate Governance; Governing and Advisory Boards; Compensation and Benefits; Business and Community Relations; Social Enterprise; Motivation and Incentives
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Ebrahim, Alnoor, and Steve Herz. "Accountability in Complex Organizations: World Bank Responses to Civil Society." Harvard Business School Working Paper, No. 08-027, October 2007.
  • 01 Jul 2020
  • Working Paper Summaries

Social Interactions in Pandemics: Fear, Altruism, and Reciprocity

Keywords: by Laura Alfaro, Ester Faia, Nora Lamersdorf, and Farzad Saidi; Health
  • 2022
  • Article

Which Corporate ESG News Does the Market React To?

By: George Serafeim and Aaron Yoon
Using a dataset that classifies firm-level ESG news as positive and negative, we examine how stock prices react to different types of ESG news. We analyze 111,020 firm-day observations for 3,126 companies and find that prices react only to issues identified as... View Details
Keywords: ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; Social Capital; Environment; Sustainability; CSR; Stock Price; Stock Market Expectations; Materiality; Market Reaction; Environmental Sustainability; Governance; Social Issues; Performance; News
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Serafeim, George, and Aaron Yoon. "Which Corporate ESG News Does the Market React To?" Financial Analysts Journal 78, no. 1 (2022): 59–78.
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