Publications

SSRN

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06 Nov 2012
First Look

First Look: November 6

understood and managed. The key to success? Incentives. Fortunately, new research has shed light on the role incentives can play in promoting new ideas, but these findings have been absent from innovation literature-until now. By using... View Details

Keywords: Sean Silverthorne

2024
Working Paper

Scaling Core Earnings Measurement with Large Language Models

By: Matthew Shaffer and Charles CY Wang

We study the application of large language models (LLMs) to the estimation of core earnings, i.e., a firm's persistent profitability from its core business activities. This construct is central to investors' assessments of economic performance and valuations. However,... View Details

Keywords: Large Language Models; AI and Machine Learning; Accounting; Profit; Corporate Disclosure; Analytics and Data Science; Measurement and Metrics

SSRN

February 2008
Supplement

Shinhan Financial Group (B)

By: Rosabeth Moss Kanter and Matthew J. Morgan

By 2007, there were many signs that the merger of Chohung and Shinhan banks to form the Shinhan Financial Group in 2003 had met its goals. Shinhan Financial Group's stock price had increased from $31 a share at its opening on the New York Stock Exchange in September... View Details

Keywords: Mergers and Acquisitions; Global Strategy; Expansion; Markets; Strategic Planning; South Korea

June 2018
Article

Cost of Experimentation and the Evolution of Venture Capital

By: Michael Ewens, Ramana Nanda and Matthew Rhodes-Kropf

We study how technological shocks to the cost of starting new businesses have led the venture capital model to adapt in fundamental ways over the prior decade. We both document and provide a framework to understand the changes in the investment strategy of VCs in... View Details

Keywords: Innovation; Investing; Abandonment Option; Technological Innovation; Venture Capital; Investment

03 Nov 2009
First Look

First Look: Nov. 3

self-report of the licensee. The self-reporting aspect of the environment gives rise to demand for auditing by the licensor or third-party attestation by the licensee. We characterize the optimal royalty... View Details

Keywords: Martha Lagace

2023
Working Paper

Causal Interpretation of Structural IV Estimands

By: Isaiah Andrews, Nano Barahona, Matthew Gentzkow, Ashesh Rambachan and Jesse M. Shapiro

We study the causal interpretation of instrumental variables (IV) estimands of nonlinear, multivariate structural models with respect to rich forms of model misspecification. We focus on guaranteeing that the researcher's estimator is sharp zero consistent, meaning... View Details

Keywords: Mathematical Methods

2013
Working Paper

How the Zebra Got Its Stripes: Imprinting of Individuals and Hybrid Social Ventures

By: Matthew Lee and Julie Battilana

Hybrid organizations that combine multiple, existing organizational forms are frequently proposed as a source of organizational innovation, yet little is known about the origins of such organizations. We propose that individual founders of hybrid organizations acquire... View Details

Keywords: Hybrid Organizations; Imprinting; Institutional Theory; Social Entrepreneurship; Organizations

SSRN

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April 2025
Supplement

Lisa Su and AMD (B)

By: Joshua D. Margolis, Matthew Preble and Dave Habeeb

This multimedia case study focuses on CEO Lisa Su’s turnaround and subsequent transformation of the technology company Advanced Micro Devices, Inc. (AMD). When Su accepted the top position in 2014, AMD was on the verge of collapse. Su focused on the company’s culture,... View Details

Keywords: Turnaround; Leading Change; Transformation; AI and Machine Learning; Innovation Leadership; Innovation Strategy; Organizational Culture; Business and Stakeholder Relations; Business Strategy; Semiconductor Industry; Computer Industry; United States; California; Texas

12 Jun 2018
First Look

New Research and Ideas, June 12, 2018

emergence of political economy and the project of creating market societies. By reconstructing ideas in their historical contexts, I address motivations and contingencies at the very foundations of modernity. Publisher's link:... View Details

Keywords: Dina Gerdeman

January 2013
Article

Preference Heterogeneity and Optimal Capital Income Taxation

By: Mikhail Golosov, Maxim Troshkin, Aleh Tsyvinski and Matthew Weinzierl

We examine a prominent justification for capital income taxation: goods preferred by those with high ability ought to be taxed. In an environment where commodity taxes are allowed to be nonlinear functions of income and consumption, we derive an analytical expression... View Details

Keywords: Taxation

July–August 2013
Article

How Experts Gain Influence

By: Anette Mikes, Matthew Hall and Yuval Millo

In theory, the risk management groups of two British banks—Saxon and Anglo—had the same influence in their organizations. But in practice, they did not: Saxon's was engaged in critical work throughout the bank, while Anglo's had little visibility outside its areas of... View Details

Keywords: Risk Management; Banking Industry

November 2002 (Revised June 2003)
Case

China's Rural Leap Forward

By: Bruce R. Scott and Jamie Matthews

Collectively owned township and village enterprises (TVEs) played a pivotal role in China's rapid growth during the 1980s and 1990s. Although they originated in the policies and institutions of the Maoist era, TVEs thrived only after Deng Xiaoping's economic reforms... View Details

Keywords: Business and Government Relations; Public Sector; Public Ownership; Development Economics; Governing Rules, Regulations, and Reforms; Macroeconomics; Emerging Markets; China

Educators

2019
Chapter

Coordination Frictions in Venture Capital Syndicates

By: Ramana Nanda and Matthew Rhodes-Kropf

An extensive literature on venture capital has studied asymmetric information and agency problems between investors and entrepreneurs, examining how separating entrepreneurs from the investor can create frictions that might inhibit the funding of good projects. It has... View Details

Keywords: Syndication; Frictions; Venture Capital; Networks; Entrepreneurship

June 2015
Case

1996 Welfare Reform in the United States

By: Matthew Weinzierl, Katrina Flanagan and Alastair Su

On August 22, 1996, U.S. President Bill Clinton signed into law the Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA)—a dramatic reform of the American system of economic assistance for the poor that, as its title suggested, attempted to... View Details

Keywords: Welfare State; Public Goods; Moral Hazard; Median Voter Theorem; Poverty; Welfare; Public Administration Industry; United States

Educators