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All HBS Web
(117,281)
- Faculty Publications (37,164)
- December 2021
- Article
The Evolutionary Nature of Breakthrough Innovation: An Empirical Investigation of Firm Search Strategies
By: Dominika Kinga Randle and Gary P. Pisano
Breakthrough innovation has been an important topic of study for generations of scholars. Previous research in this domain has focused on exploring the way breakthroughs emerge from cumulative combination and recombination of prior technologies and knowledge components...
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Keywords:
Breakthrough Innovation;
Exploration And Exploitation;
Search Strategy;
Innovation and Invention;
Technological Innovation;
Strategy
Randle, Dominika Kinga, and Gary P. Pisano. "The Evolutionary Nature of Breakthrough Innovation: An Empirical Investigation of Firm Search Strategies." Strategy Science 6, no. 4 (December 2021): 290–304.
- 2021
- Working Paper
The Green Bonding Hypothesis: How Do Green Bonds Enhance the Credibility of Environmental Commitments?
By: Shirley Lu
This paper proposes and provides evidence on a green bonding hypothesis, where green bonds act as a commitment device that subjects firms to institutions holding them accountable to their environmental promises. I find that green-bond issuers face higher climate change...
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Keywords:
Bonding Hypothesis;
Sustainable Finance;
Climate Change;
Corporate Social Responsibility and Impact;
Environmental Sustainability;
Bonds;
Corporate Accountability
Lu, Shirley. "The Green Bonding Hypothesis: How Do Green Bonds Enhance the Credibility of Environmental Commitments?" SSRN Working Paper Series, No. 3898909, December 2021.
- 2021
- Chapter
The Pandemic Can Be Used as a Cover for Wasteful Spending
By: Laura Alfaro
Alfaro, Laura. "The Pandemic Can Be Used as a Cover for Wasteful Spending." In Latin America: The Post-Pandemic Decade. Conversations with 16 Latin American Economists, edited by Ilan Goldfajn and Eduardo Levy Yeyati. London: CEPR Press, 2021.
- 2021
- Working Paper
The Political Economy of Anti-Bribery Enforcement
By: Lauren Cohen and Bo Li
This paper documents novel evidence on the influence of political incentives in the regulatory enforcement of foreign bribery. Using exogenous variation in the timing and geographic location of U.S. Congressional elections, we find that the probability of a Foreign...
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Keywords:
Bribery;
Regulatory Enforcement;
Crime and Corruption;
Governance Controls;
Political Elections
Cohen, Lauren, and Bo Li. "The Political Economy of Anti-Bribery Enforcement." NBER Working Paper Series, No. 29624, December 2021.
- Article
The Supply Chain Economy: New Policies to Drive Innovation and Jobs
By: Mercedes Delgado and Karen G. Mills
The debate in economic policymaking about the drivers of innovation and job creation has long centered on manufacturing versus services. The predominant view is that manufacturing drives innovation, wages, and growth, and that services provide less innovation and...
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Keywords:
Supply Chain Industries;
Supply Chain;
Economy;
Policy;
Innovation and Invention;
Jobs and Positions
Delgado, Mercedes, and Karen G. Mills. "The Supply Chain Economy: New Policies to Drive Innovation and Jobs." Economía Industrial, no. 421 (December 2021).
- 2021
- Article
ThreeDWorld: A Platform for Interactive Multi-Modal Physical Simulation
By: Chuang Gan, Jeremy Schwartz, Seth Alter, Damian Mrowca, Martin Schrimpf, James Traer, Julian De Freitas, Jonas Kubilius, Abhishek Bhandwaldar, Nick Haber, Megumi Sano, Kuno Kim, Elias Wang, Michael Lingelbach, Aidan Curtis, Kevin Feigelis, Daniel M. Bear, Dan Gutfreund, David Cox, Antonio Torralba, James J. DiCarlo, Joshua B. Tenenbaum, Josh H. McDermott and Daniel L.K. Yamins
We introduce ThreeDWorld (TDW), a platform for interactive multi-modal physical simulation. TDW enables simulation of high-fidelity sensory data and physical interactions between mobile agents and objects in rich 3D environments. Unique properties include: real-time...
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Keywords:
Artificial Intelligence;
Platform;
Interactive Physical Simulation;
Virtual Environment;
Multi-modal;
AI and Machine Learning
Gan, Chuang, Jeremy Schwartz, Seth Alter, Damian Mrowca, Martin Schrimpf, James Traer, Julian De Freitas, Jonas Kubilius, Abhishek Bhandwaldar, Nick Haber, Megumi Sano, Kuno Kim, Elias Wang, Michael Lingelbach, Aidan Curtis, Kevin Feigelis, Daniel M. Bear, Dan Gutfreund, David Cox, Antonio Torralba, James J. DiCarlo, Joshua B. Tenenbaum, Josh H. McDermott, and Daniel L.K. Yamins. "ThreeDWorld: A Platform for Interactive Multi-Modal Physical Simulation." Conference on Neural Information Processing Systems (NeurIPS), Datasets and Benchmarks Track 35th (2021).
- December 2021
- Article
Trade Policy Uncertainty and Stock Returns
By: Marcelo Bianconi, Federico Esposito and Marco Sammon
A recent literature has documented large real effects of trade policy uncertainty (TPU) on trade, employment, and investment, but there is little evidence that investors are compensated for bearing such risk. To quantify the risk premium associated with TPU, we exploit...
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Keywords:
Trade Policy;
Uncertainty;
Stock Returns;
Risk Premium;
Tariff Rates;
Portfolio Analysis;
Trade;
Policy;
Risk and Uncertainty;
Stocks;
Investment Return
Bianconi, Marcelo, Federico Esposito, and Marco Sammon. "Trade Policy Uncertainty and Stock Returns." Art. 102492. Journal of International Money and Finance 119 (December 2021).
- Article
Transparency as a Solution for the Hospital Capacity Problem
COVID dramatically clarified a shortcoming in our great healthcare system, but like everything in the world, it has its shortcomings. What we see through the apex of COVID is that many hospitals in hotspot areas cannot provide an adequate supply of beds. Although the...
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Herzlinger, Regina E. "Transparency as a Solution for the Hospital Capacity Problem." Ohio State Law Journal 82, no. 5 (December 2021): 787–794.
- December 2021 (Revised May 2022)
- Case
Troverie (A)
By: Thomas R. Eisenmann, Lindsay N. Hyde and Olivia Graham
Six months after the August 2018 launch of Troverie, a U.S.-based online retailer of luxury watches, the average cost of acquiring a customer is much higher than originally projected, and the startup is incurring a substantial loss on each sales transaction. Could...
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Keywords:
Startup;
Luxury Goods;
Customer Acquisition;
Entrepreneurship;
Business Startups;
Luxury;
Failure;
Internet and the Web;
Revenue;
Fashion Industry;
United States
Eisenmann, Thomas R., Lindsay N. Hyde, and Olivia Graham. "Troverie (A)." Harvard Business School Case 822-068, December 2021. (Revised May 2022.)
- December 2021
- Supplement
Troverie (B)
By: Thomas R. Eisenmann, Lindsay N. Hyde and Olivia Graham
Resolves the questions raised in Troverie (A); recounts pivots and efforts to raise capital from strategic investors and sell Troverie; and shares the founder's post-mortem reflections on what went wrong and what he might have done differently.
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Keywords:
Startup;
Failed Startup;
Luxury Goods;
Entrepreneurship;
Business Startups;
Failure;
Luxury;
Fashion Industry;
United States
Eisenmann, Thomas R., Lindsay N. Hyde, and Olivia Graham. "Troverie (B)." Harvard Business School Supplement 822-069, December 2021.
- 2024
- Working Paper
What Drives Variation in Investor Portfolios? Estimating the Roles of Beliefs and Risk Preferences
By: Mark Egan, Alexander MacKay and Hanbin Yang
We present an empirical model of portfolio choice that allows for the nonparametric estimation of investors' (subjective) expectations and risk preferences. Utilizing a comprehensive dataset of 401(k) plans from 2009 through 2019, we explore heterogeneity in asset...
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Keywords:
Stock Market Expectations;
Demand Estimation;
Retirement Planning;
Defined Contribution Retirement Plan;
401 (K);
Finance;
Investment Portfolio;
Investment;
Retirement;
Behavioral Finance;
Financial Services Industry;
United States
Egan, Mark, Alexander MacKay, and Hanbin Yang. "What Drives Variation in Investor Portfolios? Estimating the Roles of Beliefs and Risk Preferences." Harvard Business School Working Paper, No. 22-044, December 2021. (Revised April 2024. Direct download. NBER Working Paper Series, No. 29604, December 2021)
- November 2021
- Teaching Note
Globalizing Japan's Dream Machine: Recruit Holdings Co., Ltd.
By: Sandra J. Sucher and Shalene Gupta
- November 2021
- Teaching Plan
Responsive Working at PepsiCo UK (A) and (B)
By: Amy C. Edmondson
This teaching plan is designed to be used in conjunction with the case “Responsive Working at PepsiCo UK (A) and (B)” HBS product numbers 621076 and 621077 to help faculty deepen students’ comprehension of business issues and energize classroom discussion.
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- 2021
- Book
The Future of Executive Development
By: Mihnea C Moldoveanu and Das Narayandas
Executive development programs have entered a period of rapid transformation, driven by digital disruption and a widening gap between the skills that participants and their organizations demand and those provided by their executive programs. This work delves into the...
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Moldoveanu, Mihnea C., and Das Narayandas. The Future of Executive Development. Stanford, CA: Stanford Business Books, 2021.
- November 2021
- Teaching Note
The NCB Capital Turnaround: Waking the Sleeping Giant
By: Sandra J. Sucher, Gamze Yucaoglu, Shalene Gupta and Fares Khrais
- 30 Nov 2021
- Interview
TikTok: Super App or Supernova?
By: Jeffrey F. Rayport and Brian Kenny
TikTok’s parent company, ByteDance, was launched in 2012 around the simple idea of helping users entertain themselves on their smartphones while on the Beijing Subway. By May 2020, TikTok operated in 155 countries and had roughly 1 billion monthly active users, placing...
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Keywords:
Apps;
Artificial Intelligence;
Business Startups;
Mobile and Wireless Technology;
Business Model;
Digital Platforms;
Growth and Development Strategy;
AI and Machine Learning;
Social Media
"TikTok: Super App or Supernova?" Cold Call (podcast), Harvard Business Review Group, November 30, 2021. (Interviewed by Brian Kenny.)
- November 2021 (Revised November 2023)
- Background Note
Legal Analysis: Fiduciary Duties for Managers
By: J.S. Nelson and Trevor Fetter
This note describes the essential legal responsibilities of managers and company directors toward investors and other parties. These include basic fiduciary duties of loyalty, obedience, good faith and care, as well as duties that relate to...
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Nelson, J.S., and Trevor Fetter. "Legal Analysis: Fiduciary Duties for Managers." Harvard Business School Background Note 322-073, November 2021. (Revised November 2023.)
- November 2021
- Case
The Wolf in Cashmere: LVMH's Bid to Acquire Tiffany
By: Stuart C. Gilson and Sarah L. Abbott
In November 2019, the iconic U.S. jeweler Tiffany agreed to be acquired by the luxury goods conglomerate LVMH. The $16.6 billion transaction was scheduled to close in mid-2020. However, in 2020, the global COVID-19 pandemic took a toll on the luxury goods sector. In...
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Keywords:
Mergers & Acquisitions;
Luxury Brand;
COVID-19 Pandemic;
Mergers and Acquisitions;
Health Pandemics;
Lawsuits and Litigation;
Consumer Products Industry;
United States;
Europe
Gilson, Stuart C., and Sarah L. Abbott. "The Wolf in Cashmere: LVMH's Bid to Acquire Tiffany." Harvard Business School Case 222-054, November 2021.
- 24 Nov 2021
- Interview
Best Buy: Hubert Joly
By: Guy Raz and Hubert Joly
In 2012, to say there was a crisis at Best Buy—is an understatement. In January, Forbes published an article with the headline: WHY BEST BUY IS GOING OUT OF BUSINESS.
Then, in March, the company reported a loss of $1.7 billion dollars, and in April, the CEO... View Details
Then, in March, the company reported a loss of $1.7 billion dollars, and in April, the CEO... View Details
"Best Buy: Hubert Joly." Wisdom from the Top (podcast), National Public Radio (NPR), November 24, 2021. (Interview with Guy Raz.)
- 2021
- Chapter
Generating Social Entrepreneurship Knowledge: International Research Collaboration on a Hemispheric Level
By: James E. Austin, Gabriel Berger, Rosa Amelia González, Roberto Gutiérrez, Iván D. Lobo and Alfred Vernis
Provide insights on how social entrepreneurship (SE) knowledge can be more effectively generated by universities through the entrepreneurial creation and effective management of a knowledge network centered on international collaborative research; illuminate how one...
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Keywords:
Social Entrepreneurship;
Knowledge;
Networks;
Collaborative Innovation and Invention;
Global Range
Austin, James E., Gabriel Berger, Rosa Amelia González, Roberto Gutiérrez, Iván D. Lobo, and Alfred Vernis. "Generating Social Entrepreneurship Knowledge: International Research Collaboration on a Hemispheric Level." In Social Entrepreneurship. Vol. 5, edited by David Wasieleski and James Weber. Business and Society 360. Bingley, UK: Emerald Publishing Limited, 2021.