Publications

SSRN

November 2017 (Revised August 2018)
Case

Fair Value Accounting at Noble Group (A)

By: Siko Sikochi, Suraj Srinivasan and Quinn Pitcher

Noble Group was a large commodities trader based in Hong Kong and listed on the Singapore Stock Exchange. In 2012, Noble shifted its business strategy towards an asset-light model. Under this model, Noble did not own mines or farms to produce commodities but built... View Details

Keywords: Fair Value Accounting; Policy; Goods and Commodities; Contracts; Valuation

2023
Working Paper

Flow-Driven ESG Returns

By: Philippe van der Beck

I show that the recent returns to ESG investing are strongly driven by price impact from flows towards ESG funds. Using data on institutional trades, I estimate the market’s ability to accommodate the demand of ESG funds, which is given by the elasticity of... View Details

Keywords: Investment Funds; Corporate Social Responsibility and Impact; Financial Markets; Investment Return

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16 May 2023
HBS Case

How KKR Got More by Giving Ownership to the Factory Floor: ‘My Kids Are Going to College!’

the bottom of the pyramid.” When companies incentivize hostility From his humble beginnings, Stavros studied at Duke University and found his way into private equity after graduating. One day, while sending wire transfers to equity owners of an View Details

Keywords: by Avery Forman

Program

Aligning Strategy and Sales

strategic asset, this sales channel strategy program will help you enable essential company-wide alignment. By aligning strategy and sales, you will explore new ways to help sales professionals meet their numbers, how to improve your company's return on View Details

April 2012
Case

Man Group (A)

By: Robert C. Pozen and Thomas M. Clay

The Man Group was a huge and successful UK-based hedge fund and fund of funds manager. Through acquisitions, the company had consciously diversified its portfolio of investment products. In 2007 Man had to decide whether or not to spin off its brokerage business. Man... View Details

Keywords: Asset Management; Investment Funds; Financial Crisis; Decisions; Organizational Change and Adaptation; Diversification; Business Growth and Maturation; Business Strategy; Financial Services Industry; United Kingdom; Europe

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Web

Research Community - Doctoral

Research Community Innovative Research, Lasting Relationships Harvard Business School invests more than $140 million in research annually—more than any other school. These funds give researchers at the School the freedom, flexibility, and... View Details

03 Oct 2023
HBS Case

Layoffs Can Be Bad Business: 5 Strategies to Consider Before Cutting Staff

apology “builds a bridge” between the company and its stakeholders. 5. Invest in laid-off employees Companies can reinforce the bridge by committing to help downsized employees get back on their feet. Many organizations address this... View Details

Keywords: by Ben Rand; Telecommunications; Technology; Financial Services; Manufacturing

September 2024 (Revised December 2024)
Case

Sona Comstar and Blackstone: Unlocking Value Through Business Transformation

By: Ranjay Gulati and Kanika Jain

Private equity firm Blackstone’s majority investment in automotive systems manufacturer Sona Comstar had culminated in the largest IPO in the Indian auto components industry in 2021, with stellar returns for all involved. This EV supplier was the result of a 2019... View Details

Keywords: Strategy; Decision Making; Engineering; Management; Risk and Uncertainty; Private Equity; Mergers and Acquisitions; Initial Public Offering; Auto Industry; Manufacturing Industry; Technology Industry; Asia; Southeast Asia

Article

Human Capital and the Future of Work: Implications for Investors and ESG Integration

By: Sakis Kotsantonis and George Serafeim

Human capital development (HCD) is a key consideration for most companies, but only recently have investors focused on understanding the risks and opportunities related to human capital with the emergence of environmental, social, and governance (ESG) investment... View Details

Keywords: Future Of Work; ESG; Employee Engagement; Employee Compensation; Human Capital; Human Resources; Employees; Compensation and Benefits; Wages

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September 2016
Case

Partners Group: Ain't No Mountain High Enough

By: Nori Gerardo Lietz and Ricardo Andrade

Partners Group (PG), a Swiss-based PE manager, initiated a series of strategic shifts and evolved from a predominately fund-of-funds manager into a large, multi-asset class PE firm focused on direct investments. PG was the first PE firm to go public in 2006. A number... View Details

Keywords: Business Model; Management Practices and Processes; Entrepreneurship

May 2016
Case

OPET: Precision Marketing in Uncertain Times

By: Rajiv Lal, Esel Çekin and Eren Kuzucu

During Timucin Guler’s decade at OPET, a prominent fuel distributor in Turkey, he transformed the definition of marketing in the company. Under Guler’s lead, OPET, once a local player in the downstream distribution market, became the second largest fuel distributor in... View Details

Keywords: Customer Satisfaction; Customer Service; Emerging Market; Focusing On Customers; Competition; Turkey; Loyalty Program; Marketing Strategy; Downstream Distribution; Customer Relationship Management; Energy Industry; Turkey

2000
Book

Merchants to Multinationals

By: Geoffrey Jones

This book examines the evolution of multinational trading companies from the eighteenth century to the present day. During the Industrial Revolution, British merchants established overseas branches which became major trade intermediaries, and later engaged in foreign... View Details

Keywords: Competency and Skills; Trade; Foreign Direct Investment; Multinational Firms and Management; Corporate Governance; Growth and Development; Human Resources; Information Management; Relationships; Corporate Strategy; Africa; Asia; Latin America

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September–October 2023
Article

A Rising Tide Lifts All Boats: The Effects of Common Ownership on Corporate Social Responsibility

By: Mark R. DesJardine, Jody Grewal and Kala Viswanathan

Common owners face an incredible investment challenge: managing systematic risk. Because common owners hold shares in multiple firms across an industry, an action (or inaction) by one firm that affects industry peers is felt more severely by common owners than by... View Details

Keywords: Common Ownership; Environmental Sustainability; Corporate Social Responsibility and Impact; Institutional Investing; Corporate Governance; Risk and Uncertainty; Investment Return

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September 2005 (Revised November 2006)
Case

AmorePacific: From Local to Global Beauty

By: Pankaj Ghemawat, Carin-Isabel Knoop and David Kiron

Suh Kyung-Bae, the President and CEO of AmorePacific, a South Korean cosmetics company, was an ardent globalizer. In its home market, AmorePacific had held off major multinational players such as L'Oreal and Estee Lauder and had engaged them in markets around the... View Details

Keywords: Globalized Firms and Management; Local Range; Global Range; Global Strategy; Beauty and Cosmetics Industry; South Korea

May 2022
Case

Executive Decision-Making at Zola

By: Amy C. Edmondson and Michael Roberto

In April 2020, Rachel Jarrett, President and COO of wedding technology company Zola, called a meeting with the organization’s key decision-makers. The company had previously launched three business expansions: a vendor marketplace, a wedding apparel division, and a... View Details

Keywords: Decision Making; Voting; Decision Choices and Conditions; Management Skills; Management; Management Style; Organizations; Organizational Culture; Technology Industry; Entertainment and Recreation Industry; United States

Research Summary

Current Research Interests

Employment Contract, Collective Bargaining, and Human Capital Investment

American Welfare Capitalists, 1910-1940

Political Economy of New Deal Labor Legislation

A Comparative Historical Analysis of Wartime Labor Regulation during W.W.II in the U.S.... View Details

11 May 2018
News

Two Harvard Business School Faculty Honored by Aspen Institute Business & Society Program

03 Feb 2022
Video

Professor Debora Spar: Symphonic

May 2000
Case

Intel 64 Fund

By: G. Felda Hardymon and Ann Leamon

Laila Partridge of Intel's Corporate Business Development group has been charged to create a special investment fund to speed the adoption of a new chip architecture. The last architecture upgrade, from 16 to 32 bits, had needed almost a decade to become fully adopted.... View Details

Keywords: Venture Capital; Investment; Technology Adoption; Innovation and Management; Computer Industry