Publications

December 2014
Article

When to Sell Your Idea: Theory and Evidence from the Movie Industry

By: Hong Luo

I study a model of investment and sale of ideas and test its empirical implications using a novel data set from the market for original movie ideas. Consistent with the theoretical results, I find that buyers are reluctant to meet unproven sellers for early-stage... View Details

Keywords: Market For Ideas; Information Asymmetry; Expropriation Risk; Intermediary; Intellectual Property Protection; Strategy; Intellectual Property; Film Entertainment; Sales; Entertainment and Recreation Industry

2021
Working Paper

rTSR: Properties, Determinants, and Consequences of Benchmark Choice

By: Paul Ma, Jee-Eun Shin and Charles C.Y. Wang

We develop a measurement-error framework for assessing the quality of relative-performance metrics designed to filter out the systematic component of performance and analyze relative total shareholder return (rTSR)—the predominant metric market participants use to... View Details

Keywords: Relative TSR; Relative Performance Evaluation; Systematic Risk; Board Of Directors; Compensation Consultants; Style Effects; Executive Compensation; Performance Evaluation; Corporate Governance

SSRN

Video

Crisis Management for Leaders - Program 1, Session 3

Video

Crisis Management for Leaders - Program 4, Session 2

24 Mar 2020
Video

Crisis Management for Leaders - Program 1, Session 1

Video

Crisis Management for Leaders - Program 1, Session 2

07 Apr 2020
Video

Crisis Management for Leaders - Program 4, Session 1

March 2023
Article

Attracting the Sharks: Corporate Innovation and Securities Class Action Lawsuits

By: Elisabeth Kempf and Oliver Spalt

This paper provides novel evidence suggesting that securities class action lawsuits, a central pillar of the U.S. litigation and corporate governance system, can constitute an obstacle to valuable corporate innovation. We first establish that valuable innovation output... View Details

Keywords: Class-action Litigation; Turnover; Lawsuits and Litigation; Innovation and Invention; Risk and Uncertainty

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Article

Credit and Punishment: Are Corporate Bankers Disciplined for Risk-Taking?

By: Janet Gao, Kristoph Kleiner and Joseph Pacelli

We examine whether bankers face disciplining consequences for structuring poorly performing corporate loans. We construct a novel data set containing the employment histories and loan portfolios of a large sample of corporate bankers and find that corporate credit... View Details

Keywords: Syndicated Loans; Credit Events; Career Outcomes; Loan Officers; Banks and Banking; Financing and Loans; Risk Management; Corporate Finance; Personal Development and Career

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16 Jan 2018
First Look

First Look at New Research and Ideas, January 16, 2018

https://www.hbs.edu/faculty/Pages/item.aspx?num=53705 Developing Novel Drugs By: Krieger, Joshua, Danielle Li, and Dimitris Papanikolaou Abstract—We analyze firms' decisions to invest in incremental and radical innovation, focusing... View Details

Keywords: Sean Silverthorne

31 Jan 2023
Op-Ed

Can Insurance Technology Solve the Uninsured Driver Problem?

Despite mandates requiring motorists to carry car insurance, 13 percent of US drivers operate vehicles without any coverage—a problem that exposes uninsured drivers to catastrophic financial risks and leads to higher premiums for insured... View Details

Keywords: by Ray Kluender; Insurance

January 2009 (Revised February 2009)
Case

Sydney IVF: Stem Cell Research

By: Robert L. Simons, Kathryn Rosenberg and Natalie Kindred

This case examines the strategy implementation and risk management decisions at Sydney IVF, a research-based in vitro fertilization and stem cell company based in Australia. Drs. Robert Jansen and Jock Anderson, who co-founded Sydney IVF in 1986, developed novel... View Details

Keywords: Ethics; Governing Rules, Regulations, and Reforms; Innovation and Management; Growth and Development Strategy; Risk Management; Genetics; Commercialization; Health Industry; Australia

Educators

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15 Nov 2017
HBS Seminar

William Mann, UCLA Anderson

25 Jul 2023
Research & Ideas

Could a Business Model Help Big Pharma Save Lives and Profit?

more critical than ever for Big Pharma to adopt it more broadly. He says the pandemic elevated urgency by: Exposing new risks and opportunities with Big Pharma’s current models. Driving global use of video-conferencing technology, which... View Details

Keywords: by Esther Schrader; Pharmaceutical; Health

May 2014
Article

Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment

By: Shawn A. Cole, Daniel Stein and Jeremy Tobacman

This paper estimates how experimentally-manipulated experiences with a novel financial product, rainfall index insurance, affect subsequent insurance demand. Using a seven-year panel, we develop three main findings. First, recent experience matters for demand,... View Details

12 Sep 2023
Research & Ideas

How Can Financial Advisors Thrive in Shifting Markets? Diversify, Diversify, Diversify

How can financial planners expand their businesses as their core population ages and young investors flirt with novel financial products like cryptocurrency? The most profitable path forward is to follow the very advice they often give... View Details

Keywords: by Ben Rand; Financial Services

June 2023
Case

Verve Therapeutics: Taking DNA Editing to Heart

By: Shikhar Ghosh and Shweta Bagai

Verve Therapeutics, a public biotech company based in Boston, created a novel approach to addressing cardiovascular disease (CVD) - a leading cause of deaths globally. The company's approach was a single shot treatment to permanently lower cholesterol, thus reducing... View Details

Keywords: AI; Genetic Engineering; Medicine; Health Care and Treatment; Genetics; Innovation Strategy; Business and Stakeholder Relations; Medical Specialties; Innovation and Invention; Entrepreneurship; Biotechnology Industry

Educators

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July–August 2013
Article

Connect, Then Lead

By: Amy J.C. Cuddy, Matthew Kohut and John Neffinger

In puzzling over whether it's better to be feared or loved as a leader, Machiavelli famously said that, because it's nigh impossible to do both, leaders should opt for fear. Research from Harvard Business School's Amy Cuddy and consultants Matthew Kohut and John... View Details

Keywords: Influence; Leadership; Trust; Power and Influence

2017
Working Paper

The Need for Speed: Effects of Uncertainty Reduction in Patenting

By: Mike Horia Teodorescu

Patents are essential in commerce to establish property rights for ideas and to give equal protection to firms that develop new technologies. Young firms especially depend on the protection of intellectual property to bring a product from concept to market. However,... View Details

Keywords: Startups; Natural Language Processing; Machine Learning; Patents; Business Startups; Risk and Uncertainty; Outcome or Result; Green Technology Industry