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- All HBS Web
(7,364)
- People (15)
- News (1,293)
- Research (4,577)
- Events (20)
- Multimedia (13)
- Faculty Publications (3,504)
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- 03 May 2011
- Working Paper Summaries
How Do Risk Managers Become Influential? A Field Study of Toolmaking and Expertise in Two Financial Institutions
- December 2011
- Article
Egalitarianism and International Investment
By: Jordan I. Siegel, Amir N. Licht and Shalom H. Schwartz
This study identifies the effect of a key cultural dimension—egalitarianism—on a set of international investment outcomes. Egalitarianism expresses a society's cultural orientation with respect to intolerance for abuses of market and political power. We show... View Details
Keywords: Egalitarianism; International Investment; Culture; Cultural Distance; Foreign Direct Investment; Informal Institutions; Social Institutions; Cross-listing; Investment; Equality and Inequality; Mergers and Acquisitions
Siegel, Jordan I., Amir N. Licht, and Shalom H. Schwartz. "Egalitarianism and International Investment." Journal of Financial Economics 102, no. 3 (December 2011). (This study identifies the effect of a key cultural dimension - egalitarianism - on a set of international investment outcomes. Egalitarianism expresses a society's cultural orientation with respect to intolerance for abuses of market and political power. We show egalitarianism to be based on exogenous factors including social fractionalization, religion, and war experience. Controlling for a large set of competing explanations, we find a robust influence of egalitarianism distance on cross-border investment flows of equity, debt, and mergers and acquisitions. An informal cultural institution largely determined a century or more ago, egalitarianism influences international investment via an associated set of consistent policy choices made in recent years. But even after controlling for these associated policy choices, egalitarianism continues to exercise a direct effect on cross-border investment flows, likely through its direct influence on managers' daily business conduct.)
- February 2016 (Revised September 2017)
- Case
Mohamed Azab and Seha Capital
By: Richard G. Hamermesh and Sarah McAra
In January 2011, Mohamed Azab, founder and CEO of health care investment firm Seha Capital, made his first health care investment in Hassab Labs, a diagnostic lab in Alexandria, Egypt. Weeks later, a revolution erupted across the country as the Arab Spring swept... View Details
Keywords: Health Care; Health; Pan-Africa; Health Care Investment; Financing; Developing World; Entrepreneurship; Health Care and Treatment; Investment; Financing and Loans; Developing Countries and Economies; Egypt; Africa
Hamermesh, Richard G., and Sarah McAra. "Mohamed Azab and Seha Capital." Harvard Business School Case 816-066, February 2016. (Revised September 2017.)
- 2008
- Working Paper
The Cost of Property Rights: Establishing Institutions on the Philippine Frontier Under American Rule, 1898-1918
By: Lakshmi Iyer and Noel Maurer
We examine three reforms to property rights introduced by the United States in the Philippines in the early 20th century: the redistribution of large estates to their tenants, the creation of a system of secure land titles, and a homestead program to encourage... View Details
Keywords: Property; Ownership; Rights; Governing Rules, Regulations, and Reforms; Cost; History; Philippines; United States
Iyer, Lakshmi, and Noel Maurer. "The Cost of Property Rights: Establishing Institutions on the Philippine Frontier Under American Rule, 1898-1918." NBER Working Paper Series, No. 14288, September 2008.
- 1989
- Book
Planning and Power in Iran: Ebtehaj and Economic Development under the Shah
By: Geoffrey Jones
This book provides a biography of Abol Hassan Ebtehaj, who headed Iran's central bank and Plan Organization during the 1940s and 1950s. It provides a wide-ranging survey of the problems of modernization and economic planning in Iran. Ebtehaj was at the center of... View Details
Keywords: Crime and Corruption; Decision Making; Economics; Central Banking; Policy; Political History; Resignation and Termination; Biography; Books; Surveys; Growth and Development Strategy; Planning; Iran
Jones, Geoffrey. Planning and Power in Iran: Ebtehaj and Economic Development under the Shah. London: Frank Cass, 1989.
- July 2019
- Case
Lovango Cay: Developing a Boutique Resort in the U.S. Virgin Islands
By: Charles F. Wu, Levi Abramson, Anne Jacobs and Briana Richardson
Wu, Charles F., Levi Abramson, Anne Jacobs, and Briana Richardson. "Lovango Cay: Developing a Boutique Resort in the U.S. Virgin Islands." Harvard Business School Case 220-008, July 2019.
- February 1997
- Case
Enron Development Corp.: The Dabhol Power Project in Maharashtra, India (B) (Abridged)
A new administration takes power in a state in India and cancels a power project agreed upon by the previous state government and a U.S.-based energy company. The project cancellation is based on allegations of irregularities, exorbitant costs, and political pressures. View Details
Keywords: Energy Generation; Fairness; Cost; Cross-Cultural and Cross-Border Issues; Policy; Government and Politics; Contracts; Market Entry and Exit; Negotiation Process; Conflict Management; Energy Industry
Wells, Louis T., Jr. "Enron Development Corp.: The Dabhol Power Project in Maharashtra, India (B) (Abridged)." Harvard Business School Case 797-086, February 1997.
- 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... View Details
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.
- October 2020
- Article
IQ from IP: Simplifying Search in Portfolio Choice
By: Huaizhi Chen, Lauren Cohen, Umit Gurun, Dong Lou and Christopher J. Malloy
Using a novel database that tracks web traffic on the SEC’s EDGAR servers between 2004 and 2015, we show that mutual fund managers gather information on a very particular subset of firms and insiders, and their surveillance is very persistent over time. This tracking... View Details
Keywords: Tracked Trades; Return Predictability; Institutional Trading; Insider Trading; Institutional Investing; Information; Investment Portfolio; Decisions; Management
Chen, Huaizhi, Lauren Cohen, Umit Gurun, Dong Lou, and Christopher J. Malloy. "IQ from IP: Simplifying Search in Portfolio Choice." Journal of Financial Economics 138, no. 1 (October 2020): 118–137. (Winner of the First Prize, Crowell Memorial Award for Best Paper in Quantitative Investments, PanAgora Asset Management, 2019.)
- 2014
- Working Paper
Crony Capitalism, American Style: What Are We Talking About Here?
This paper seeks to reduce the ambiguity surrounding our understanding of what crony capitalism is, what it is not, what costs crony capitalism leaves in its wake, and how we might contain it. View Details
Keywords: Democracy; Industrial Governance; Institutional Corruption; Crony Capitalism; Lobbying; Campaign Finance; Costs; Cronyism; Business Ethics; Campaign Finance Reform; Revolving Door; Economic Systems; Ethics; Political Elections; Financing and Loans; United States
Salter, Malcolm S. "Crony Capitalism, American Style: What Are We Talking About Here?" Harvard Business School Working Paper, No. 15-025, October 2014.
- November 2019
- Article
The Relevance of Broker Networks for Information Diffusion in the Stock Market
By: Marco Di Maggio, Francesco Franzoni, Amir Kermani and Carlo Sommavilla
This paper shows that the network of relationships between brokers and institutional investors shapes information diffusion in the stock market. We exploit trade-level data to show that central brokers gather information by executing informed trades, which is then... View Details
Keywords: Broker Networks; Institutional Investors; Asset Prices; Business and Shareholder Relations; Institutional Investing; Information; Knowledge Dissemination; Financial Markets; Asset Pricing
Di Maggio, Marco, Francesco Franzoni, Amir Kermani, and Carlo Sommavilla. "The Relevance of Broker Networks for Information Diffusion in the Stock Market." Journal of Financial Economics 134, no. 2 (November 2019): 419–446.
- 2011
- Chapter
Explaining the Loss of Community: Competing Logics and Institutional Change in the U.S. Banking Industry
By: Christopher Marquis, Zhi Huang and Juan Almandoz
Keywords: Banks and Banking; Organizational Change and Adaptation; Conflict and Resolution; Banking Industry; United States
Marquis, Christopher, Zhi Huang, and Juan Almandoz. "Explaining the Loss of Community: Competing Logics and Institutional Change in the U.S. Banking Industry." In Communities and Organizations. Vol. 33, edited by Christopher Marquis, Michael Lounsbury, and Royston Greenwood. Research in the Sociology of Organizations. Emerald Group Publishing, 2011.
- January 2019
- Supplement
JPMorgan Chase: Invested in Detroit (C)
By: Joseph L. Bower and Michael Norris
[pre-abstract] Instructors should consider the timing of making videos available to students, as they may reveal key case details.
[abstract]
Beginning in 2014, JPMorgan Chase launched “Invested in Detroit,” a $100 million philanthropic investment in the city over... View Details
Keywords: Philanthropic Investment; Banking; Economic Development; Expansion; Local Economic Development; Workforce Development; Financial Institutions; Corporate Social Responsibility and Impact; Urban Development; Business and Community Relations; Banking Industry; United States; Michigan
Bower, Joseph L., and Michael Norris. "JPMorgan Chase: Invested in Detroit (C)." Harvard Business School Multimedia/Video Supplement 919-801, January 2019.
- March 2018 (Revised March 2018)
- Case
JPMorgan Chase: Invested in Detroit (A)
By: Joseph L. Bower and Michael Norris
Beginning in 2014, JPMorgan Chase launched Invested in Detroit, a $100 million philanthropic investment in the city over five years. The bank worked with local economic development organizations, workforce development organizations, small businesses, philanthropies,... View Details
Keywords: Local Economic Development; Workforce Development; Philanthropic Investment; Financial Institutions; Corporate Social Responsibility and Impact; Urban Development; Business and Community Relations; Banking Industry; United States; Michigan
Bower, Joseph L., and Michael Norris. "JPMorgan Chase: Invested in Detroit (A)." Harvard Business School Case 918-406, March 2018. (Revised March 2018.)
- October 2020
- Case
HOPE and Transformational Lending: Netflix Invests in Black Led Banks
By: John D. Macomber and Janice Broome Brooks
Following the killing of George Floyd on Memorial Day in 2020, the large US corporation Netflix elected to make a "transformational deposit" of $10 million into Hope Credit Union (HCU), a small Black led community development finance institution (CDFI) based in... View Details
- 2014
- Chapter
Payout Policy
By: Joan Farre-Mensa, Roni Michaely and Martin Schmalz
We survey the literature on payout policy, with a particular emphasis on developments in the last two decades. Of the traditional motives of why firms pay out (agency, signaling, and taxes), the cross-sectional empirical evidence is most persuasive in favor of agency... View Details
Farre-Mensa, Joan, Roni Michaely, and Martin Schmalz. "Payout Policy." In Annual Review of Financial Economics, Volume 6, edited by Andrew W. Lo and Robert C. Merton. Palo Alto, CA: Annual Reviews, 2014.
- March 2016 (Revised September 2021)
- Case
South Africa: A Fractured Rainbow?
By: Richard H.K. Vietor and Haviland Sheldahl-Thomason
Twenty years after the end of Apartheid, South Africa's democracy persists, albeit with problems. A tripartite coalition — the African National Congress, the labor unions, and the Communist Party — still controls the political system but with diminishing economic... View Details
Keywords: Politics; Development; Productivity; Labor; Labor Unions; Infrastructure; Government and Politics; Economic Growth; Performance Productivity; Economy; Social Issues; South Africa
Vietor, Richard H.K., and Haviland Sheldahl-Thomason. "South Africa: A Fractured Rainbow?" Harvard Business School Case 716-069, March 2016. (Revised September 2021.)
- 2014
- Discussion Paper
The Promise of Microfinance and Women's Empowerment: What Does the Evidence Say?
By: Dina D. Pomeranz
The microfinance revolution has transformed access to financial services for low-income populations worldwide. As a result, it has become one of the most talked-about innovations in global development in recent decades. However, its expansion has not been without... View Details
Keywords: Entrepreneurship In Emerging Markets; Entrepreneurship; Women's Empowerment; Entrepreneurs; Saving; Savings; Credit; Credit Supply; Insurance; Development Economics; Development Finance; Behavioral Economics; Gender; Microfinance; Social Entrepreneurship; Developing Countries and Economies; Banking Industry; Public Administration Industry; Financial Services Industry; Insurance Industry; Latin America; Kenya; Chile; India; Asia; Africa
Pomeranz, Dina D. "The Promise of Microfinance and Women's Empowerment: What Does the Evidence Say?" EY Thought Leadership Series, February 2014.
- March 2024
- Case
Transforming a Region: Gothenburg’s path from Shipyards to E-Mobility
By: Christian H.M. Ketels and Orjan Solvell
The case profiles the economic development of the Gothenburg region in Western Sweden, and the efforts of the regional economic development agency. During this period the region’s traditionally strong automotive cluster started to transform towards e-mobility... View Details
Keywords: Regional Economic Activity; Cluster; Economic Development; Economic Growth; Government and Politics; Transformation; Green Technology; Auto Industry; Sweden
Ketels, Christian H.M., and Orjan Solvell. "Transforming a Region: Gothenburg's Path from Shipyards to E-mobility." Harvard Business School Case 724-403, March 2024.
- 01 Jan 1979
- Conference Presentation
Developing a Financial Planning Model for An Analytic Review: A Feasibility Study
By: Robert S. Kaplan