Publications

June 2013 (Revised July 2013)
Case

Blackstone Alternative Asset Management

By: Robin Greenwood, Luis M. Viceira and Jared Dourdeville

This case explores reasons for Blackstone Alternative Asset Management's (BAAM's) growth from 2007-2013, a time when the overall fund of hedge funds industry contracted substantially. Additionally, the case analyzes evolving business models and value propositions... View Details

Keywords: Hedge Fund; Fund Of Hedge Funds; Hedge Fund Industry Growth; Fund Of Hedge Funds Industry Growth; Evolving Business Models; Value Propositions In The Fund Of Hege Funds Industry; Business Model; Investment Funds; Growth and Development Strategy; Financial Services Industry; United States

06 Jan 2003
What Do You Think?

China: The Next Big Market Opportunity or the Next Big Bubble?

domestic product will once again surpass that of the U.S. by the year 2020, two hundred years after Chinese GDP was nearly one-third of the world's total. Those optimistic about China's economic future have poured the equivalent of billions of dollars in View Details

Keywords: by James Heskett

September 2016
Case

Partners Group: Ain't No Mountain High Enough

By: Nori Gerardo Lietz and Ricardo Andrade

Partners Group (PG), a Swiss-based PE manager, initiated a series of strategic shifts and evolved from a predominately fund-of-funds manager into a large, multi-asset class PE firm focused on direct investments. PG was the first PE firm to go public in 2006. A number... View Details

Keywords: Business Model; Management Practices and Processes; Entrepreneurship

28 Jul 2003
Research & Ideas

It’s India Above China in New World Order

also quite over-regulated compared to other countries at its level of per capita income. Q: How does foreign direct investment affect the economic outlook for both countries?... View Details

Keywords: by Martha Lagace

12 Mar 2012
Research & Ideas

Crowded at the Top: The Rise of the Functional Manager

C-suite sea change: an overall increase in IT investments and an overall decrease in firm diversification. The It Investment Factor Looking at growth patterns over the 13-year period, the researchers found a... View Details

Keywords: by Carmen Nobel

June 2013 (Revised June 2013)
Teaching Note

Brazil's Enigma: Sustaining Long-Term Growth & Currency Wars

By: Laura Alfaro and Hilary White

Over the past decade, Brazil's future as a leading world economic power appeared certain. An expanding middle class and commodity boom had fueled economic growth, with GDP growth hitting a peak of 7.5% in 2010. However, the high cost of conducting business in Brazil,... View Details

January 2019 (Revised March 2020)
Case

Blackstone Alternative Asset Management in 2018

By: Emil Siriwardane, Luis M. Viceira and Shawn O'Brien

In early 2018, Blackstone announced that John McCormick would succeed Tom Hill as President and Chief Executive Officer of Blackstone Alternative Asset Management (BAAM), the largest fund-of-hedge funds in the world by a sizeable margin. As new CEO, McCormick must... View Details

Keywords: Asset Management; Expansion; Strategy; Decision Choices and Conditions; Financial Services Industry

06 Aug 2007
Research & Ideas

High Hills, Deep Poverty: Explaining Civil War in Nepal

to prevent them. "The main conclusion from this whole stream of research is that investing in poverty reduction strategies not only has direct economic benefits but also political benefits," says... View Details

Keywords: by Martha Lagace

February 2008 (Revised November 2011)
Case

The International Monetary Fund in Crisis

By: Rawi Abdelal, David Moss and Eugene Kintgen

When Dominique Strauss-Kahn became the Managing Director of the International Monetary Fund in late 2007, he faced a number of significant changes. The organization had lost much of its legitimacy over the previous decade, and countries seemed increasingly reluctant to... View Details

Keywords: History; Globalized Economies and Regions; Problems and Challenges; Developing Countries and Economies; Borrowing and Debt; Government and Politics; Financial Institutions; Business Strategy; Macroeconomics; Financial Services Industry

May 2008
Article

Regulation and Bonding: The Sarbanes-Oxley Act and the Flow of International Listings

By: Suraj Srinivasan and Joseph Piotroski

In this paper, we examine the economic impact of the Sarbanes-Oxley Act (SOX) by analyzing foreign listing behavior onto U.S. and U.K. stock exchanges before and after the enactment of the Act in 2002. Using a sample of all listing events onto U.S. and U.K. exchanges... View Details

Keywords: Decision Choices and Conditions; Stocks; Government Legislation; Market Transactions; Motivation and Incentives; United Kingdom; United States

SSRN

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March 1996 (Revised October 1996)
Case

Singapore's Trade in Services

By: Debora L. Spar

Focuses on the efforts of Singapore's Economic Development Board (EDB) to grow the tiny island almost wholly through an expansion of its service economy. Between 1965 and 1990, Singapore achieved a remarkable rate of growth, largely by opening its economy to foreign... View Details

Keywords: Growth Management; Service Operations; Government and Politics; Developing Countries and Economies; Macroeconomics; Service Industry; Singapore

October 2023 (Revised January 2024)
Case

SEK: Reimagining Spanish Higher Education at Universidad Camilo José Cela (UCJC)

By: John J-H Kim, Mary C. Sauer and Emilie Billaud

In 2023, Nieves Segovia, President of the SEK Education Group in Spain, contemplates the future of her family's for-profit education company, which includes K-12 schools and the newly established UCJC university. Renowned for its innovation in education, SEK faces... View Details

Keywords: Family Business; Curriculum and Courses; Higher Education; Teaching; Digital Strategy; Disruptive Innovation; Knowledge Dissemination; Leading Change; Growth and Development Strategy; Management Succession; Resource Allocation; Organizational Structure; Education Industry; Europe; Spain

24 May 2004
Research & Ideas

When Reputation Trumps Regulation

investing public is likely still unaware of the weak enforcement history. Even in the rare case where the SEC has been successful in punishing a cross-listed firm, the foreign insider responsible for the... View Details

Keywords: by Ann Cullen

Fourth Quarter 2008
Article

Do Funds-of-Funds Deserve Their Extra Fees?

By: Andrew Ang, Matthew Rhodes-Kropf and Rui Zhao

Since the after-fee returns of funds-of-funds are, on average, lower than hedge fund returns, it is easy to conclude that funds-of-funds do not add value compared to hedge funds. However, funds-of-funds should not be evaluated relative to hedge fund returns in publicly... View Details

Keywords: Investment Funds; Investment Return; Value; Assets; Resource Allocation

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August 2016
Teaching Note

The Role of Real Estate in Endowment Portfolios: The Case of Christ Church College

By: Arthur I. Segel and Alexander W. Schultz

The case centers on Christ Church’s Treasurer, James Lawrie, who is contemplating his options for investing a portion of the College’s endowment in real estate. Approximately 1/3 of the total $690 million endowment was allocated towards real estate, much higher than... View Details

Keywords: Portfolio Allocation; Oxford; England; Real Estate; University Endowment; Higher Education; Investment Portfolio; Property; Corporate Finance; Financial Services Industry; England

April 2006 (Revised June 2008)
Case

Peoplepower, Inc.: The Republic of the Philippines

By: Noel Maurer

In 2006, the Philippines faces a difficult choice. Japan has offered the country a trade agreement that includes access to the Japanese labor market for Philippine nurses and other professionals. The same trade agreement, however, means opening the country's... View Details

Keywords: Diasporas; Developing Countries and Economies; Trade; Foreign Direct Investment; Human Capital; Business and Government Relations; Conflict and Resolution; Japan; Philippines

January 2017 (Revised March 2017)
Case

IBM Transforming, 2012–2016: Ginni Rometty Steers Watson

By: Rosabeth Moss Kanter and Jonathan Cohen

To transform IBM for the next technology wave, Ginni Rometty, who became CEO in 2012, led divestment of declining businesses, made acquisitions in digital innovation and cloud computing, formed partnerships with former competitors such as Apple and tech startups, and... View Details

Keywords: Digital; Technological Change; Artificial Intelligence; Data; IBM; Watson; Internet Of Things; Innovation and Invention; Management; Sales; Information Technology; Technological Innovation; Transformation; AI and Machine Learning