Publications

November 2023
Supplement

'Care in Every Drop': Ayala Corporation and Manila Water (B)

By: Debora L. Spar, Paul Healy, Tricia Peralta and Julia Comeau

Since 1834, eight generations of the Ayala family have used their conglomerate to fund nation-building projects in the Philippines, including investments in tramcars, telecommunications, hospitals, and schools. In 1997, Ayala’s subsidiary, Manila Water, took control of... View Details

Keywords: Family Business; Economic Growth; Social Entrepreneurship; Climate Change; Natural Resources; Crisis Management; Failure; Privatization; Social Issues; Urban Development; Adaptation; Infrastructure; Utilities Industry; Philippines

January 2021
Case

Saham Group: It's In the Genes

By: Christina R. Wing and Gamze Yucaoglu

The case opens in August 2020 as Moulay Mhamed Elalamy (Mhamed), CEO of the Saham Group (the Group), a pan-African investment company that operates a variety of businesses out of Morocco, contemplates the Group’s identity, its investment strategy, and how to navigate... View Details

Keywords: Family and Family Relationships; Family Business; For-Profit Firms; Transformation; Transition; Emerging Markets; Change Management; Private Equity; Investment; Strategy; Insurance Industry; Real Estate Industry; Education Industry; Agriculture and Agribusiness Industry; Morocco; Africa

12 Feb 2008
First Look

First Look: February 12, 2007

firms. They also affect trading signal classifications, back-testing inferences, track records of individual analysts, and models of analysts' career outcomes in the three years following the changes. Long-Run Stockholder Consumption Risk... View Details

Keywords: Martha Lagace

15 Nov 2011
First Look

First Look: November 15

where a firm monetizes its product through sponsors rather than setting prices to its customer base. We analyze strategic interactions between an innovative entrant and an incumbent where the incumbent may imitate the entrant's business... View Details

Keywords: Sean Silverthorne

January 2013 (Revised August 2013)
Case

First Solar: CFRA's Accounting Quality Concerns

By: Suraj Srinivasan and Ian McKown Cornell

The case relates to accounting quality analysis conducted by the leading research firm Center for Financial Research and Analysis (CFRA) on companies in the solar industry with a focus on First Solar Inc. In 2009, CFRA was concerned that First Solar, like much of the... View Details

Keywords: Accounting; Accounting Quality; Financial Accounting; Financial Statement Analysis; Accounting Fraud; Accounting Red Flags; Accounting Scandal; Risk and Uncertainty; Quality; Earnings Management; Valuation; Crime and Corruption; Financial Statements; Energy Sources; Green Technology Industry; Accounting Industry; Energy Industry

Vikram S. Gandhi is the Gerald P. Kaminsky Senior Lecturer of Business Administration in the General Management Unit. He has developed and teaches two new courses in the Elective Curriculum of the MBA Program. The first is a finance and investing course, Sustainable... View Details

Keywords: financial services

June 2023
Supplement

Roche: ESG and Access to Healthcare

By: George Serafeim

In May 2022, Roche Group, one of the largest healthcare companies in the world, hosted its first ESG investor event focused exclusively on its efforts to impact access to healthcare. While Roche had recently set an ambitious goal to double the number of patients that... View Details

Research Summary

National Innovation Systems in the Life Sciences

This is an international comparative study of how institutional contexts shape the process by which science is leveraged into commercial technology. The study explores how variance in corporate governance systems, knowledge- and skill-formation systems, and... View Details

Research Summary

Research

The founding and expansion of new firms is central to innovation and economic growth, but the determinants of a new idea’s success are difficult to ascertain. The decision to form a new firm and its ultimate outcome are impacted by ownership structure, financing... View Details

19 Nov 2009
Working Paper Summaries

Management and the Financial Crisis (We Have Met the Enemy and He is Us …)

Keywords: by William A. Sahlman

Article

Navigating Talent Hot Spots

By: William R. Kerr

Innovation clusters like San Francisco and Boston have long had an outsize impact on the global economy, and their influence keeps growing. In 2017, for instance, America’s ten largest tech hubs accounted for 58% of U.S. patents. Globally, cities such as Tokyo, Paris,... View Details

Keywords: Talent and Talent Management; Innovation and Invention; Urban Scope; Industry Clusters; Innovation and Management

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2016
Working Paper

Food Stamp Entrepreneurs

By: Gareth Olds

This paper explores how eligibility for the Supplemental Nutrition Assistance Program (SNAP, formerly known as the Food Stamps Program) affects firm formation. Using a variety of identification strategies, I show that expanded SNAP eligibility in the mid-2000s... View Details

Keywords: Entrepreneurship; Welfare or Wellbeing

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February 2015 (Revised February 2016)
Case

CrossFit (A)

By: Shikhar Ghosh, Ali Huberlie and Christopher Payton

The case provides a sense of motivations of venture capital firms, the pivotal role that founders play, and explores the limits of founder-driven growth.
CrossFit (CF) describes the approach taken by its founder Greg Glassman in setting up one of the most... View Details

Keywords: Finance; Venture Capital; Strategy; Organizational Culture; Entrepreneurship; Franchise Ownership; Innovation and Invention; United States; North America

17 Nov 2009
First Look

First Look: Nov. 17

related systems: incentives, risk management and control, accounting, human capital, and culture. The worst firms had lethal combinations of strong incentives, weak control and View Details

Keywords: Martha Lagace

December 2001 (Revised April 2003)
Case

Poland's A2 Motorway

By: Benjamin C. Esty and Michael Kane

Autostrada Wielkopolska S.A. (AWSA) is a consortium of 18 firms that won a concession to build and operate Poland's first private toll road. In June 2000, AWSA's chief financial officer, Wojciech Gebicki, is preparing for a meeting with the projects' lead bankers to... View Details

Keywords: Risk Management; Cost vs Benefits; Project Finance; Projects; Construction Industry; Transportation Industry; Poland