Publications
Publications
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- All HBS Web
(6,392)
- Faculty Publications (1,574)
- 2020
- Book
Business, Ethics and Institutions: The Evolution of Turkish Capitalism in Global Perspectives
By: Asli M. Colpan and Geoffrey Jones
This book is the first systematic scholarly study on the business history of Turkey and its predecessor the Ottoman Empire from the nineteenth century until the present. It places the distinctive characteristics of capitalism in Turkey within a global and comparative... View Details
- January 2020
- Article
Compensation Consultants and the Level, Composition, and Complexity of CEO Pay
By: Kevin J. Murphy and Tatiana Sandino
We provide fresh evidence regarding the relation between compensation consultants and CEO pay. First, firms that employ consultants have higher-paid CEOs—this result is robust to firm fixed effects and matching on economic and governance variables. Second, while this... View Details
- January 2020
- Article
Rethinking Measurement of Pay Disparity and Its Relation to Firm Performance
By: Ethan Rouen
I develop measures of firm-level pay disparity and examine their relation to firm performance. Using comprehensive compensation data for a large sample of firms, I find no statistically significant relation between the ratio of CEO-to-mean employee compensation and... View Details
- 2020
- Book
Think Outside the Building: How Advanced Leaders Can Change the World One Smart Innovation at a Time
Over a decade ago, renowned innovation expert Rosabeth Moss Kanter co-founded and then directed Harvard’s Advanced Leadership Initiative. Her breakthrough work with hundreds of successful professionals and executives, as well as aspiring young entrepreneurs, identifies... View Details
Keywords: Leaders; Advanced Leadership; Advanced Leadership Initiative; Community; Change Leadership; Innovation; Problem Solving; Cross-sector Collaboration; Institutional Change; Leadership; Change; Leading Change; Communication; Innovation Leadership; Collaborative Innovation and Invention; Organizational Change and Adaptation; Business and Community Relations; Civil Society or Community
- December 2019 (Revised September 2020)
- Case
Facebook Faces the Regulators
By: Debora L. Spar
In the fall of 2019, Facebook and its CEO Mark Zuckerberg are facing increased scrutiny on multiple fronts. Regulators from around the globe are threatening the company with punitive measures. Users are organizing against it. But there is little consensus around what,... View Details
- December 2019 (Revised June 2024)
- Case
The Dutch East India Company in 1612 (A)
By: Lynn S. Paine and Giuseppe Dari-Mattiacci
The Dutch East India Company’s board of directors must decide what to do about an impending legal requirement to liquidate the company’s assets and return to shareholders their capital and any profits earned during a ten-year lock-up period. The charter granted to the... View Details
- December 2019 (Revised June 2024)
- Supplement
The Dutch East India Company in 1612 (B)
By: Lynn S. Paine and Giuseppe Dari-Mattiacci
The case relates the decision made in the A case and what happened in the aftermath. View Details
- December 2019
- Case
The Business of Pain: Johnson & Johnson and the Promise of Opioids
By: Erik Snowberg, Trevor Fetter and Amy W. Schulman
This case is designed to provide an engrossing overview of stakeholder capitalism through a vigorous discussion of the conflicts that can arise when trying to serve multiple stakeholders.
In 2007, Johnson & Johnson’s (J&J) subsidiary Janssen has to decide whether or... View Details
- December 2019 (Revised January 2021)
- Supplement
The Leveraged Buyout of TXU: (B) Energy Future Holdings
By: Trevor Fetter, Erik Snowberg and Rebecca M. Henderson
This case is designed to support a lively discussion about the relative merits of shareholder vs. stakeholder perspectives in the context of a company that provides a vital public service that has important environmental implications. The 2007 purchase of TXU, the... View Details
- December 2019 (Revised May 2020)
- Case
Income Inequality and the CEO Pay Ratio at TJX Cos
By: Ethan Rouen and Akari Furukawa
TJX Companies reported a CEO pay ratio of 1,596-to-1 in 2019, leaving board chair Carol Meyrowitz with a host of questions about whether, and how, she could take action to address concerns raised by having one of the highest pay ratios in the S&P 500. As a retail... View Details
- December 2019
- Supplement
The Business of Pain: Johnson & Johnson and the Promise of Opioids (B)
By: Erik Snowberg, Trevor Fetter and Amy W. Schulman
This case is designed to provide an engrossing overview of stakeholder capitalism through a vigorous discussion of the conflicts that can arise when trying to serve multiple stakeholders.
In 2007, Johnson & Johnson’s (J&J) subsidiary Janssen has to decide whether or... View Details
- December 2019 (Revised December 2022)
- Case
TXU (A): Powering the Largest Leveraged Buyout in History
By: Trevor Fetter, Erik Snowberg and Rebecca M. Henderson
This case is designed to support a lively discussion about the relative merits of shareholder vs. stakeholder perspectives in the context of a company that provides a vital public service that has important environmental implications. The 2007 purchase of TXU, the... View Details
Keywords: Leveraged Buyouts; Transformation; Insolvency and Bankruptcy; Environmental Sustainability; Business and Shareholder Relations; Business and Stakeholder Relations; Energy Generation; Non-Renewable Energy; Governing Rules, Regulations, and Reforms; Utilities Industry; Energy Industry; Texas
- 2019
- Article
Overcoming Cultural Resistance to Open Source Innovation
By: John Winsor, Jin Hyun Paik, Michael Tushman and Karim R. Lakhani
Purpose: This article offers insight on how to effectively help incumbent organizations prepare for global business shifts to open source and digital business models.
Design/methodology/approach: Discussion related to observation, experience and case studies... View Details
Design/methodology/approach: Discussion related to observation, experience and case studies... View Details
- December 2019
- Article
Patent Trolls: Evidence from Targeted Firms
By: Lauren Cohen, Umit Gurun and Scott Duke Kominers
We provide the first large-sample evidence on the behavior and impact of nonpracticing entities (NPEs) in the intellectual-property space. We find that, on average, NPEs appear to behave as opportunistic “patent trolls.” NPEs sue cash-rich firms and target cash in... View Details
- November 2019 (Revised January 2025)
- Case
Russia: A Drama In Three Acts
By: Rawi Abdelal, Rafael Di Tella, Galit Goldstein, Sogomon Tarontsi and Lavinia Teodorescu
The collapse of central authority in the Soviet Union in 1991 ushered in a period of revolutionary transformations for the states that emerged in its wake. The leaders of Russia, the USSR's successor, struggled to reestablish central authority while also seeking to... View Details
Keywords: Business ＆ Government Relations; Developing Countries; Government Policy; Policy Change; Policy Making; Economic Systems; Economics; Globalization; Emerging Markets; Privatization; Non-Renewable Energy; Governance; Global Strategy; Corporate Governance; Policy; Business History; Lawfulness; Problems and Challenges; Business and Government Relations; Risk and Uncertainty; Strategy; Change Management; Russia; Moscow
- November 2019
- Case
Apple, Einhorn, and iPrefs (Abridged)
By: Carliss Y. Baldwin and W. Carl Kester
In March 2013, Apple Computer has a very large cash balance, and is under pressure to return cash to shareholders. Hedge fund manager David Einhorn thinks Apple can "unlock value" by issuing perpetual preferred stock, dubbed iPrefs. Henry Blodget, CEO of Business... View Details
- November 2019 (Revised April 2020)
- Case
Danone: Changing the Food System
By: David E. Bell, Federica Gabrieli and Daniela Beyersdorfer
Emmanuel Faber, Chairman and CEO of the food and beverage company Danone, believed that humankind had only ten years to bend the curve on climate change and restore the biodiversity that the global food and agricultural ecosystem was critically dependent on. Upon... View Details
- November 2019 (Revised January 2020)
- Supplement
Taiwan Semiconductor Manufacturing Company Limited: A Global Company's China Strategy (B)
By: William C. Kirby, Billy Chan and Dawn H. Lau
After the legendary founder of Taiwan Semiconductor Manufacturing Company (TSMC) retired, the new chairman had to grapple with fresh challenges related to its China market: a recently opened factory in China had to find ways to reverse its financial loss and meet its... View Details
- 2019
- Working Paper
Intelligent Design of Inclusive Growth Strategies
By: Robert S. Kaplan, George Serafeim and Eduardo Tugendhat
Improving corporate engagement with society, as advocated in the Business Roundtable’s 2019 statement, should not be viewed as a zero-sum proposition where attention to new stakeholders detracts from delivering shareholder value. Corporate programs for sustainable and... View Details
- 2021
- Working Paper
Shareholder Activism and Firms' Voluntary Disclosure of Climate Change Risks
By: Caroline Flammer, Michael W. Toffel and Kala Viswanathan
This paper examines whether—in the absence of mandated disclosure requirements—shareholder activism can elicit greater disclosure of firms’ exposure to climate change risks. We find that environmental shareholder activism increases the voluntary disclosure of climate... View Details
Keywords: Shareholder Activism; Climate Risk; Corporate Accountability; Climate Change; Corporate Disclosure; Corporate Governance; Corporate Social Responsibility and Impact; Business and Shareholder Relations; Risk and Uncertainty; Natural Environment; Environmental Sustainability; Financial Services Industry; United States