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December 2023
Article

Discerning Saints: Moralization of Intrinsic Motivation and Selective Prosociality at Work

By: Mijeong Kwon, Julia Lee Cunningham and Jon M. Jachimowicz

Intrinsic motivation has received widespread attention as a predictor of positive work outcomes, including employees’ prosocial behavior. In the current research, we offer a more nuanced view by proposing that intrinsic motivation does not uniformly increase prosocial... View Details

Keywords: Motivation and Incentives; Behavior; Moral Sensibility; Employees

23 Apr 2020
Research & Ideas

This Crisis Loan Program Preserved Jobs—and Made Money

As the US Congress prepares to replenish its Paycheck Protection Program for small businesses, questions still linger: Do guaranteed loans for small businesses work in the long term? Who wins? Employees? Businesses? Taxpayers? The answer appears to be yes for all... View Details

Keywords: by Rachel Layne; Financial Services

July 2009 (Revised August 2011)
Case

What Happened at Citigroup? (A)

By: Clayton S. Rose and Aldo Sesia

What went wrong at Citigroup? In 1998, the Travelers Group and Citicorp merged to create Citigroup Inc., considered the first true global "financial supermarket" and a business model to be envied, feared, and emulated. By year-end 2006 the firm had a market... View Details

Keywords: Mergers and Acquisitions; Business Model; Decision Choices and Conditions; Globalized Firms and Management; Leadership; Risk Management; Failure; Financial Services Industry

1999
Working Paper

On the Formation and Structure of International Exchanges

We investigate the formation and structure of 248 financial exchanges throughout the world. First, we empirically analyze the determinants of exchange formation as well as the impact of exchange formation on the domestic country's economy. Second, conditional on... View Details

Keywords: Financial Markets

August 2008 (Revised June 2012)
Case

Martingale Asset Management LP in 2008, 130/30 Funds, and a Low-Volatility Strategy

By: Luis M. Viceira and Helen Tung

In early July of 2008, William (Bill) Jacques, Chief Investment Officer at Martingale Asset Management, a quantitative value-oriented investment manager in Boston, Massachusetts, was busy preparing for an upcoming meeting with the group that made new product decisions... View Details

Keywords: Volatility; Asset Management; Stocks; Financial Strategy; Investment Funds; Product Development

2010
Chapter

The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment

By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian

Existing research has documented the large impact that automatic enrollment has on savings plan participation. All the companies examined in these studies, however, have combined automatic enrollment with an employer match. This raises a question about how effective... View Details

Keywords: Motivation and Incentives; Consumer Behavior; Personal Finance; Investment Funds; Microeconomics; Compensation and Benefits

December 2022
Case

To Feed the Planet: Juan Luciano at ADM

By: Joshua D. Margolis, David E. Bell, Damien McLoughlin, Stacy Straaberg and James Weber

In December 2022, Juan Luciano, Chairman and CEO of agribusiness and nutrition giant ADM, considered the next phase of the historic company’s future. Beginning in 2011 when he joined as COO and moving into his tenure as CEO in 2015, Luciano led a transformation of ADM... View Details

07 Feb 2012
Working Paper Summaries

Earnings Management from the Bottom Up: An Analysis of Managerial Incentives Below the CEO

Keywords: by Felix Oberholzer-Gee & Julie Wulf

07 Nov 2012
Working Paper Summaries

Causes and Consequences of Linguistic Complexity in Non-US Firm Conference Calls

Keywords: by Francois Brochet, Patricia Naranjo & Gwen Yu; Accounting

2017
Working Paper

Salience through Information Technology: The Effect of Balance Availability on the Smoothing of SNAP Benefits

By: Andrew Hillis

Recipients of the Supplemental Nutrition Assistance Program (SNAP) run out of most benefits before halfway through a benefit deposit cycle. I study the introduction of a mobile software application, Fresh EBT, that enables beneficiaries to check their available balance... View Details

Keywords: Mobile Technology; Welfare or Wellbeing; Technology Adoption; Behavior

Spring 2013
Article

Does Mandatory IFRS Adoption Improve the Information Environment?

By: Joanne Horton, George Serafeim and Ioanna Serafeim

We examine the effect of mandatory International Financial Reporting Standards (IFRS) adoption on firms' information environment. We find that after mandatory IFRS adoption, consensus forecast errors decrease for firms that mandatorily adopt IFRS relative to forecast... View Details

Keywords: International Accounting; Financial Reporting; Standards; Information; Quality; Earnings Management

SSRN

28 Mar 2018
HBS Seminar

Tim O’Reilly, O’Reilly Media

2020
Article

Assessing the Impact of Big Data on Firm Innovation Performance: Big Data is not Always Better Data

By: Maryam Ghasemaghaei and Goran Calic

In this study, we explore the impacts of big data’s main characteristics (i.e., volume, variety, and velocity) on innovation performance (i.e., innovation efficacy and efficiency), which eventually impacts firm performance (i.e., customer perspective, financial... View Details

Keywords: Big Data; Analytics and Data Science; Performance; Innovation and Invention

October 2019 (Revised December 2019)
Case

BC Partners: Acuris

By: Victoria Ivashina and Terrence Shu

This case follows Nikos Stathopoulos, Managing Partner of BC Partners, as he and his team evaluate the potential sale of one of BC Partners’ portfolio companies, Acuris. Acuris was a global financial intelligence, news, and data company that had been acquired by BC... View Details

Keywords: Fund Management; Fund Raising; Leveraged Buyout; Buyout; Portfolio Management; Operations Improvement; Exit; Exit Strategy; Valuation Ratios; Finance; Private Equity; Leveraged Buyouts; Operations; Performance Improvement; Acquisition; Valuation

September 2009
Article

Spousal Control and Intra-Household Decision Making: An Experimental Study in the Philippines

By: Nava Ashraf

Using an experimental design I elicit causal effects of spousal observability and communication on financial choices of married individuals in the Philippines. Making choices public moves men from putting money into their own account to consumption; communication with... View Details

Keywords: Intra-household; Bargaining; Experiments; Economic Development; Saving; Governance Controls; Decision Choices and Conditions; Personal Finance; Family and Family Relationships; Household; Gender

Web

Publications - Faculty & Research

Publications Publications Show Results For All HBS Web (119,594) Faculty Publications (38,089) Page 1 of 38,089 Results September 2025 Article Using Satellites and Phones to Evaluate and Promote Agricultural... View Details

27 Jul 2010
First Look

First Look: July 27

likely to perceive CSR strategies favorably. Our results show how CSR strategies can affect value creation in public equity markets through analyst recommendations. Institutional Stock Trading on Loan Market Information Authors:Victoria... View Details

Keywords: Martha Lagace

June 2017
Article

Is Operating Flexibility Harmful under Debt?

By: Nikolaos Trichakis, Dan A. Iancu and Gerry Tsoukalas

We study the inefficiencies stemming from a firm's operating flexibility under debt. We find that flexibility in replenishing or liquidating inventory, by providing risk-shifting incentives, could lead to borrowing costs that erase more than a third of the firm's... View Details

Keywords: Covenants; Risk-shifting; Inventory; Agency Costs; Debt Financing; Risk Management; Borrowing and Debt