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Show Results For
- All HBS Web
(4,857)
- People (1)
- News (589)
- Research (3,413)
- Events (64)
- Multimedia (15)
- Faculty Publications (2,067)
- 13 Feb 2007
- Working Paper Summaries
Electronic Hierarchies and Electronic Heterarchies: Relationship-Specific Assets and the Governance of Interfirm IT
- April 2011
- Article
Institutional Tax Clienteles and Payout Policy
By: Mihir Desai and Li Jin
This paper employs heterogeneity in institutional shareholder tax characteristics to identify the relation between firm payout policy and tax incentives. Analysis of a panel of firms matched with the tax characteristics of the clients of their institutional... View Details
Keywords: Institutional Investors; Clienteles; Payout Policy; Private Equity; Investment; Taxation; Ownership Stake; Business and Shareholder Relations
Desai, Mihir, and Li Jin. "Institutional Tax Clienteles and Payout Policy." Journal of Financial Economics 100, no. 1 (April 2011): 68–84.
- 27 May 2011
- Working Paper Summaries
An Empirical Decomposition of Risk and Liquidity in Nominal and Inflation-Indexed Government Bonds
Keywords: by Carolin E. Pflueger & Luis M. Viceira
- 12 Apr 2022
- Book
Racism, Colonialism, and Britain's Legacy of Violence
Britain’s 20th century empire was the largest in human history, with a quarter of the world’s land and nearly 700 million people. Yet the empire drew its strength from violence. That’s the conclusion Harvard Business School Professor Caroline Elkins draws in her new... View Details
Keywords: by Avery Forman
- November 2007
- Article
Innovation and Incentives: Evidence from Corporate R&D
By: Josh Lerner and Julie Wulf
Beginning in the late 1980s, American corporations began increasingly linking the compensation of central research personnel to the economic objectives of the corporation. This paper examines the impact of the shifting compensation of the heads of corporate research... View Details
Keywords: Innovation and Invention; Motivation and Incentives; Goals and Objectives; Research and Development; Patents; Employee Stock Ownership Plan
Lerner, Josh, and Julie Wulf. "Innovation and Incentives: Evidence from Corporate R&D." Review of Economics and Statistics 89, no. 4 (November 2007): 634–644.
- Research Summary
Corporate Bond Pricing and Different Sources of Asset Return Volatility (with George Chacko and Jens Hilscher)
This paper presents a pricing model for defaultable bonds. Default is defined by a cash flow, not value, covenant. The cash flow (total distributions) yield is stochastic. We find that different sources of volatility, cash flow versus discount rate news, affect... View Details
- 09 Jul 2014
- Working Paper Summaries
Activist Directors: Determinants and Consequences
- 2009
- Chapter
Opening Platforms: When, How and Why?
By: Thomas R. Eisenmann, Geoffrey Parker and Marshall Van Alstyne
Platform-mediated networks encompass several distinct types of participants, including end users, complementors, platform providers who facilitate users' access to complements, and sponsors who develop platform technologies. Each of these roles can be opened-that... View Details
Keywords: Decision Choices and Conditions; Governance Controls; Market Participation; Digital Platforms
Eisenmann, Thomas R., Geoffrey Parker, and Marshall Van Alstyne. "Opening Platforms: When, How and Why?" Chap. 6 in Platforms, Markets and Innovation, edited by Annabelle Gawer. Cheltenham, U.K. and Northampton, MA: Edward Elgar Publishing, 2009.
- December 2014
- Article
Clusters, Convergence, and Economic Performance
By: Mercedes Delgado, Michael E. Porter and Scott Stern
This paper evaluates the role of regional cluster composition in regional industry performance. On the one hand, diminishing returns to specialization in a location can result in a convergence effect: the growth rate of an industry within a region may be declining in... View Details
Delgado, Mercedes, Michael E. Porter, and Scott Stern. "Clusters, Convergence, and Economic Performance." Research Policy 43, no. 10 (December 2014): 1785–1799.
- 31 May 2020
- Working Paper Summaries
Demystifying the Math of the Coronavirus
- December 2013
- Article
Reputational Contagion and Optimal Regulatory Forbearance
By: Alan Morrison and Lucy White
Existing studies suggest that systemic crises may arise because banks either hold correlated assets or are connected by interbank lending. This paper shows that common regulation is also a conduit for interbank contagion. One bank's failure may undermine confidence in... View Details
Morrison, Alan, and Lucy White. "Reputational Contagion and Optimal Regulatory Forbearance." Journal of Financial Economics 110, no. 3 (December 2013): 642–658.
- 29 Mar 2013
- Working Paper Summaries
Entrepreneurs, Firms, and Global Wealth since 1850
Keywords: by Geoffrey G. Jones
- 1985
- Working Paper
Sequential Innovation and Market Structure
By: Jerry R. Green and Jean-Jacques Laffont
This paper concerns the introduction of a sequence of new, higher-quality durable products in a market in which there already exists a lower-quality substitute. The product has the further attribute that a real resource cost is incurred at the time a higher-quality... View Details
Green, Jerry R., and Jean-Jacques Laffont. "Sequential Innovation and Market Structure." Harvard Institute of Economic Research Discussion Paper, No. 1185, October 1985.
- 2022
- Working Paper
Values as Luxury Goods and Political Polarization
By: Benjamin Enke, Mattias Polborn and Alex A Wu
Motivated by novel survey evidence, this paper develops a theory of political
behavior in which values are a luxury good: the relative weight voters place
on values rather than material considerations increases in income. The model
predicts (i) voters who are... View Details
Keywords: Political Polarization; Government and Politics; Moral Sensibility; Luxury; Values and Beliefs; Voting
Enke, Benjamin, Mattias Polborn, and Alex A Wu. "Values as Luxury Goods and Political Polarization." Working Paper, April 2022. (Revised April 2023.)
- 04 Jun 2008
- Working Paper Summaries
Accountability and Inequality in Single-Party Regimes: A Comparative Analysis of Vietnam and China
- 2015
- Chapter
Firms and the Economics of Skilled Immigration
By: Sari Pekkala Kerr, William R. Kerr and William F. Lincoln
Firms play a central role in the selection, sponsorship, and employment of skilled immigrants entering the United States for work through programs like the H-1B visa. This role has not been widely recognized in the literature, and the data to better understand it have... View Details
Keywords: Business or Company Management; Human Capital; Immigration; Innovation and Invention; United States
Kerr, Sari Pekkala, William R. Kerr, and William F. Lincoln. "Firms and the Economics of Skilled Immigration." In Innovation Policy and the Economy, Volume 15, edited by William R. Kerr, Josh Lerner, and Scott Stern, 115–152. University of Chicago Press, 2015.
- 2012
- Working Paper
Clusters, Convergence, and Economic Performance
By: Mercedes Delgado, Michael E. Porter and Scott Stern
This paper evaluates the role of regional cluster composition in the economic performance of industries, clusters, and regions. On the one hand, diminishing returns to specialization in a location can result in a convergence effect: the growth rate of an industry... View Details
Delgado, Mercedes, Michael E. Porter, and Scott Stern. "Clusters, Convergence, and Economic Performance." NBER Working Paper Series, No. 18250, July 2012.
- June 2009
- Journal Article
Taxes, Institutions and Foreign Diversification Opportunities
By: Mihir Desai and Dhammika Dharmapala
Investors can access foreign diversification opportunities through either foreign portfolio investment (FPI) or foreign direct investment (FDI). The worldwide tax regime employed by the U.S. potentially distorts this choice by penalizing FDI, relative to FPI, in... View Details
Keywords: International Finance; Foreign Direct Investment; Investment Portfolio; Multinational Firms and Management; Taxation; Diversification; United States
Desai, Mihir, and Dhammika Dharmapala. "Taxes, Institutions and Foreign Diversification Opportunities." Journal of Public Economics 93, nos. 5-6 (June 2009): 703–714.
- September 2008
- Article
Firm Heterogeneity and Credit Risk Diversification
By: Samuel G. Hanson, M. Hashem Pesaran and Til Schuermann
This paper examines the impact of neglected heterogeneity on credit risk. We show that neglecting heterogeneity in firm returns and/or default thresholds leads to under estimation of expected losses (EL), and its effect on portfolio risk is ambiguous. Once EL is... View Details
Keywords: Volatility; Credit; Investment Return; Outcome or Result; Risk and Uncertainty; Loss; Diversification; Complexity; United States
Hanson, Samuel G., M. Hashem Pesaran, and Til Schuermann. "Firm Heterogeneity and Credit Risk Diversification." Journal of Empirical Finance 15, no. 4 (September 2008): 583–612.
- 2008
- Working Paper
Opening Platforms: How, When and Why?
By: Thomas R. Eisenmann, Geoffrey Parker and Marshall Van Alstyne
Platform-mediated networks encompass several distinct types of participants, including end users, complementors, platform providers who facilitate users' access to complements, and sponsors who develop platform technologies. Each of these roles can be opened-that... View Details
Keywords: Decision Choices and Conditions; Governance Controls; Market Participation; Digital Platforms
Eisenmann, Thomas R., Geoffrey Parker, and Marshall Van Alstyne. "Opening Platforms: How, When and Why?" Harvard Business School Working Paper, No. 09-030, September 2008.