Publications

01 Jul 2020
News

Fixing U.S. Politics

February 2018
Case

Robert K. Steel at Wachovia (A)

By: Gautam Mukunda, Nien-hê Hsieh and David Lane

In September 2008, Robert Steel presided over the sale of Wachovia, a top U.S. bank, less than three months after becoming its CEO. Wachovia’s exposure to risky home loans led depositors and creditors to flee the bank on Friday, September 26, after the FDIC seized and... View Details

Research Summary

Overview

By: Vincent Pons

Professor Pons studies questions in political economy and development with the goal of understanding how democratic systems function, and how they can be improved.

He decomposes the electoral cycle into four essential steps: the factors affecting voter... View Details

20 Apr 2009
Research & Ideas

Misgovernance at the World Bank

Getting a seat at the table often makes all the difference in the world. New research from Harvard Business School suggests that this idea holds true literally at the World Bank, where the 24 countries serving on the Board of Executive Directors benefit their own... View Details

Keywords: by Martha Lagace

October 2020
Case

Genomics in the Family Office

By: Lauren Cohen, Ronnie Stangler and Spencer C. N. Hagist

Alice Anane is the member of a large, wealthy family that collectively operates a multi-pronged family business in Israel. Upon discovering partway into her pregnancy that the rapidly degenerative brain disease her father succumbed to now threatens her and potentially... View Details

Keywords: Family Business; Health Disorders; Strategic Planning; Corporate Governance

December 2016
Article

Through the Mud or in the Boardroom: Examining Activist Types and Their Strategies in Targeting Firms for Social Change

By: Charles Eesley, K. A. DeCelles and Michael Lenox

We examine the variety of activist groups and their tactics in demanding firms’ social change. While extant work does not usually distinguish among activist types or their variety of tactics, we show that different activists (e.g., social movement organizations vs.... View Details

Keywords: Negotiation Tactics; Investment Activism

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November 2010 (Revised April 2011)
Case

Magna International, Inc. (A)

By: Timothy A. Luehrman and Yuhai Xuan

Magna International, Inc., a Canadian-based automotive parts manufacturer, is considering whether and how to unwind its dual-class ownership structure. A family trust controlled by the founder owns a 0.65% economic interest in the company but has 66% of the votes via a... View Details

Keywords: Family Business; Restructuring; Cost vs Benefits; Governance Controls; Ownership Stake; Family Ownership; Auto Industry; Canada

20 Mar 2017
News

Why Trump’s Experiments With Fascism Will Fail

Research Summary

Experiments in Financial Democracy: Corporate Governance and Financial Development in Brazil, 1882-1950 (BOOK)

In my first book manuscript, Experiments in Financial Democracy, I challenge the idea that it was colonial institutions that sent Brazil, a civil law country, down a particular path of corporate governance and finance. Detailed archival research reveals... View Details

June 2017
Teaching Note

Succession Planning at Samsung: The Merger Formula of Cheil Industries and Samsung C&T

By: Gwen Yu

A merger deal of two Samsung group companies becomes a center of a corruption scandal. The merger of Cheil Industries and Samsung C&T was seen as a crucial step to transfer power to Lee Jae Yong, the heir of Samsung group. The deal was criticized to purposefully... View Details

Keywords: Merger; Mergers and Acquisitions; Crime and Corruption; Business and Government Relations; South Korea

November 2020 (Revised March 2023)
Teaching Note

Unrest in Chile

By: Vincent Pons, John Masko, Rafael Di Tella and William Mullins

In 2020, Chileans would head to the ballot box to decide their country’s future. Many international observers credited Chile’s decades of neoliberal governance with turning the country into Latin America’s “Tiger,” a prosperous, diversified economy on its way to... View Details

Keywords: Developing Countries and Economies; Macroeconomics; Economy; Political Elections; Public Opinion; Social Issues; Equality and Inequality; System Shocks; Chile; Latin America

July 2012
Case

Barclays Capital and the Sale of Del Monte Foods

By: John Coates, Clayton Rose and David Lane

This case explores the reputational and legal issues that arise as Barclays Capital attempted to manage client conflicts by following established industry practice in the face of changing legal norms. In February 2011, Judge Travis Laster granted a preliminary... View Details

Keywords: Client Management; Fiduciary Duty; Mergers ＆ Acquisitions; Investment Banking; Private Equity; Ethics; Finance; Reputation; Banking Industry; United States

December 2011 (Revised May 2015)
Case

Aviva Investors

By: George Serafeim

The Aviva Investors case describes the challenge of integrating sustainability considerations into the strategy and business practices of companies and into the decision making process of the investment community. Steve Waygood, Chief Responsible Investment Officer at... View Details

Keywords: Investing; Investment Management; Shareholder Activism; Disclosure; Stock Exchanges; Sustainability; Sustainable Development; Sustainability Reporting; ESG; ESG (Environmental, Social, Governance) Performance; Social Impact; Activism; Investment; Management; Business and Shareholder Relations; Environmental Sustainability; United Kingdom

04 Dec 2014
Working Paper Summaries

The Air War versus The Ground Game: An Analysis of Multi-Channel Marketing in US Presidential Elections

Keywords: by Doug J. Chung & Lingling Zhang

2018
Working Paper

Trust and Democracy: Leader Turnover during Economic Crises

By: Nathan Nunn, Nancy Qian and Jaya Y. Wen

We study the relationship between interpersonal trust and political stability in democratic countries. Using a six-decade-long annual country-level panel dataset, we find that recessions are more likely to cause political turnover in countries with lower levels of... View Details

Keywords: Interpersonal Trust; Recessions; Leader Turnover; Political Instability; Culture; Economic Slowdown and Stagnation; Trust; Political Elections

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February 2002 (Revised February 2003)
Case

Remaking the Rainbow Nation: South Africa 2002

By: Rawi E. Abdelal, Debora L. Spar and Katherine E. Cousins

In April 1994, the world witnessed a political milestone in South Africa. After decades of repression and racial segregation, South Africa's black majority came to power at last, as the African National Congress (ANC), led by the celebrated Nelson Mandela, rode into... View Details

Keywords: Development Economics; Race; Political Elections; Economic Growth; Business and Government Relations; South Africa

2024
Working Paper

The Seeds of Ideology: Historical Immigration and Political Preferences in the United States

By: Paola Giuliano and Marco Tabellini

We study the long run effects of immigration on American political ideology. Exploiting cross-county variation in the presence of European immigrants between 1900 and 1930, we establish a novel result: historical European immigration is associated with stronger... View Details

Keywords: Political Ideology; Preferences For Redistribution; Cultural Transmission; Immigration; History; Values and Beliefs; Welfare; United States

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October 2021 (Revised May 2023)
Case

Engine No.1: An Impact Investing Firm Engages with ExxonMobil

By: Mark Kramer, Shawn Cole, Vikram S. Gandhi and T. Robert Zochowski

ExxonMobil, the world's fifth largest source of carbon emissions, remained committed to aggressively expanding its oil & gas business despite global warming. During the COVID pandemic this strategy resulted in massive losses as the price and demand for oil declined. ... View Details

Keywords: Carbon Emissions; Global Warming; Impact Investment Funds; Hedge Fund Activism; Leadership Development; Business Model; Renewable Energy; Resource Allocation; Decision Choices and Conditions; Governing and Advisory Boards