Publications

September 2023
Case

The Rise and Fall of FTX

By: Aiyesha Dey, Jonas Heese, Joseph Pacelli and Max Hancock

In November 2022, Sam Bankman-Fried's multi-billion-dollar crypto exchange, FTX, collapsed, wiping out investors and throwing the crypto industry into disarray. As FTX's founder and CEO, Bankman-Fried developed a reputation for his unerring business sense and... View Details

Keywords: Cryptocurrency; Crime and Corruption; Financial Statements; Misleading and Fraudulent Advertising; Insolvency and Bankruptcy; Corporate Governance; Governing Rules, Regulations, and Reforms; Failure; Restructuring; United States; Hong Kong; Bahamas

June 2009 (Revised July 2010)
Case

Microfin

By: Michael Chu and Enrique Kramer

The case presents the management dilemmas of a new institution in an undeveloped microfinance market in Latin America. Supported by a globally recognized industry player, it is the result of the efforts of two fledgling local entrepreneurs with a business model they... View Details

Keywords: Business Model; Developing Countries and Economies; Social Entrepreneurship; Microfinance; Governing Rules, Regulations, and Reforms; Industry Structures; Competitive Strategy; Financial Services Industry; Latin America

Find at Harvard

October 2021
Article

Can European Electric Utilities Manage Asset Impairments Arising from Net Zero Targets?

By: Conor Hickey, John O'Brien, Ben Caldecott, Celine McInerney and Brian O' Gallachoir

This paper develops a framework to assess the ability of electric utilities to sustain the forced impairment of carbon emitting power plants and applies it to the European market. We present a new method to measure asset impairment, for both the company and the... View Details

Keywords: Carbon Emissions; Environmental Regulation; Transition; Utilities Industry; Europe

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12 Apr 2010
Research & Ideas

One Report: Better Strategy through Integrated Reporting

How can managers better identify, describe, and confront the issues of environmental and social sustainability that their companies increasingly encounter? One answer is One Report, a method of integrating information about financial and... View Details

Keywords: by Martha Lagace

September 2018 (Revised January 2020)
Case

Apple Pay and Mobile Payments in Australia (A)

By: Feng Zhu, Susan Athey and David Lane

In summer 2016, four of Australia’s top five banks petitioned regulators for permission to bargain collectively with Apple over the terms under which they would support its digital wallet, Apple Pay. They argued that doing so would force concessions from Apple that... View Details

Keywords: Payment Methods; Mobile Payment; Apple; Banks and Banking; Cooperation; Problems and Challenges; Policy; Digital Platforms; Banking Industry; Australia

08 Nov 2012
Working Paper Summaries

Admitting Mistakes: Home Country Effect on the Reliability of Restatement Reporting

Keywords: by Suraj Srinivasan, Aida Sijamic Wahid & Gwen Yu

November–December 2023
Article

Tax-Loss Harvesting with Cryptocurrencies

By: Lin William Cong, Wayne Landsman, Edward Maydew and Daniel Rabetti

We describe the taxation landscape in the cryptocurrency markets, especially concerning U.S. taxpayers, and examine how recent increases in tax scrutiny have led to changes in crypto investors' trading behavior. We argue conceptually and then empirically document that... View Details

Keywords: Cryptocurrency; Taxation; Governing Rules, Regulations, and Reforms; Financial Markets

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Web

Live from Klarman Hall - Alumni

marketing efficiencies, underscored by insights into privacy regulations and the future of personalized advertising. Sir Martin Sorrell (MBA 1968) Executive Chairman S4 Capital Ayelet Israeli Marvin Bower Associate Professor of Business... View Details

30 Apr 2019
First Look

New Research and Ideas, April 30, 2019

Psychology and Financial Fragility By: Gennaioli, Nicola, and Andrei Shleifer Abstract—The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government... View Details

Keywords: Dina Gerdeman

October 2023 (Revised March 2024)
Case

KOKO Networks: Bridging Energy Transition and Affordability with Carbon Financing

By: George Serafeim, Siko Sikochi and Namrata Arora

The problem was massive: two million hectares of African forests were lost annually to charcoal production for cooking, an area equivalent to 13 times Greater London, resulting in one billion tons of carbon emissions yearly. At the same time, an estimated 700,000... View Details

12 Oct 1999
Research & Ideas

Where Main Street Meets Wall Street

with the stock market. After the Crash of 1929, a new regimen of regulation was decreed for the financial services industry, with the 1940 Investment Company Act imposing especially tight controls on the... View Details

Keywords: by Garry Emmons; Financial Services

22 Dec 2015
First Look

December 22, 2015

analysis suggests a need for caution: while information facilitates transactions, it also facilitates discrimination. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=50258 Financial Patent Quality: Finance Patents... View Details

Keywords: Carmen Nobel

Program

Competing in the Age of Digital Platforms

platform by businesses, governments, and/or consumers Understand the influence of data privacy laws, antitrust policy, and regulations Manage platforms as a successful business Maximize value for your business by interacting with the... View Details

October 2018 (Revised September 2022)
Case

Stock-Based Compensation at Twitter

By: Jonas Heese, Zeya Yang and Mike Young

Olivia Nash, an analyst at leading hedge fund BlueShark Capital Management, had just finished listening to the hour-long earnings call for Twitter’s Q4 2017 results. Was Twitter doing well? That depended on which numbers she chose to believe. According to Generally... View Details

Keywords: Twitter; Non-GAAP Disclosure; Stock-based Compensation; Earnings Management; Corporate Disclosure; Compensation and Benefits; Stocks; Measurement and Metrics

March – April 2010
Article

The Need for Ideological Consciousness

By: George C. Lodge

Every so often in American history a crisis comes along that requires Americans to inspect cherished assumptions and to act in a way that many find ideologically repulsive. Although our leaders insist that such actions are pragmatic-the only sensible way to deal with... View Details

Keywords: History; Leadership; Competition; Framework; Consumer Behavior; Business and Community Relations; Government and Politics; Financial Crisis; Planning; United States