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- All HBS Web
(1,626)
- People (1)
- News (222)
- Research (1,226)
- Events (6)
- Multimedia (6)
- Faculty Publications (820)
- Winter 2013
- Article
Corporate Governance Reform and Executive Incentives: Implications for Investments and Risk-Taking
By: Daniel Cohen, Aiyesha Dey and Thomas Lys
We investigate the mechanism through which the Sarbanes Oxley Act (SOX) was associated with changes in corporate investment strategies. We document that the passage of the governance regulations in SOX was followed by a significant decline in pay‐performance... View Details
Cohen, Daniel, Aiyesha Dey, and Thomas Lys. "Corporate Governance Reform and Executive Incentives: Implications for Investments and Risk-Taking." Contemporary Accounting Research 30, no. 4 (Winter 2013): 1296–1332.
- April 2010 (Revised October 2010)
- Case
Vale: Global Expansion in the Challenging World of Mining
By: Tarun Khanna, Aldo Musacchio and Ricardo Reisen de Pinho
In 2009 the management of Vale, a Brazilian diversified mining company and the largest iron ore producer in the world, was under pressure from at least two fronts. First, the emergence of China as the most important consumer of iron ore in the last few years had... View Details
Keywords: Financial Crisis; Investment; Global Strategy; Risk Management; Market Entry and Exit; Business and Government Relations; Competitive Strategy; Mining Industry; Brazil
Khanna, Tarun, Aldo Musacchio, and Ricardo Reisen de Pinho. "Vale: Global Expansion in the Challenging World of Mining." Harvard Business School Case 710-054, April 2010. (Revised October 2010.)
- July 2014
- Article
Diasporas and Outsourcing: Evidence from oDesk and India
By: Ejaz Ghani, William R. Kerr and Christopher Stanton
This study examines the role of the Indian diaspora in the outsourcing of work to India. Our data are taken from oDesk, the world's largest online platform for outsourced contracts, where India is the largest country in terms of contract volume. We use an ethnic name... View Details
Keywords: Diaspora; Outsourcing; oDesk; Networks; Job Cuts and Outsourcing; Diasporas; Internet and the Web; Ethnicity; Service Industry; South Asia; India
Ghani, Ejaz, William R. Kerr, and Christopher Stanton. "Diasporas and Outsourcing: Evidence from oDesk and India." Management Science 60, no. 7 (July 2014): 1677–1697.
- January 2017 (Revised August 2017)
- Case
Mexico's Energy Reform
By: Richard H.K. Vietor and Haviland Sheldahl-Thomason
Energy—both petroleum and electricity—had been terribly managed for decades in Mexico. The two national monopolies—PEMEX and CFE—were inefficient, overstaffed, corrupt, rife with subsidies, and losing money. Finally, in 2012, President Enrique Peña Nieto announced his... View Details
Keywords: Energy; Governing Rules, Regulations, and Reforms; Performance Improvement; Energy Industry; Mexico
Vietor, Richard H.K., and Haviland Sheldahl-Thomason. "Mexico's Energy Reform." Harvard Business School Case 717-027, January 2017. (Revised August 2017.)
- July 2015
- Article
A Behavioral Model of the Popularity and Regulation of Demandable Liabilities
By: Julio J. Rotemberg
Overoptimism regarding one's ability to arrive early in a queue is shown to rationalize deposit contracts in which people can withdraw their funds on demand even if consumption takes place later. Capitalized institutions serving overoptimistic depositors emerge in... View Details
Rotemberg, Julio J. "A Behavioral Model of the Popularity and Regulation of Demandable Liabilities." American Economic Journal: Macroeconomics 7, no. 3 (July 2015): 123–152.
- August 2015 (Revised August 2015)
- Case
Hoag Orthopedic Institute
By: Robert S. Kaplan and Jonathan Warsh
Two groups of orthopedic surgeons form a joint venture with a community hospital to establish Hoag Orthopedic Institute, a for-profit hospital and two ambulatory service centers. By controlling and integrating all aspects of the patients' medical treatment, the... View Details
Keywords: Outcomes Measurement; Bundled Payment; Health Care; Activity-based Costing And Management; Measurement and Metrics; Activity Based Costing and Management; Competitive Strategy; Medical Specialties; Health Care and Treatment; Outcome or Result; Health Industry
Kaplan, Robert S., and Jonathan Warsh. "Hoag Orthopedic Institute." Harvard Business School Case 115-023, August 2015. (Revised August 2015.)
- December 2005 (Revised March 2010)
- Case
William Levitt, Levittown and the Creation of American Suburbia
By: Nitin Nohria, Anthony Mayo and Mark Benson
Demand for low-cost housing after World War II far exceeded supply. Was this a profitable new market? New York developer William Levitt had to decide. During World War II, Levitt was eager to build basic housing for the working class—otherwise, Levitt & Sons would have... View Details
Keywords: Demographics; Construction; Business History; Housing; Leadership; Growth and Development Strategy; Product Development; Business and Government Relations; Construction Industry; Real Estate Industry; United States; New York (state, US)
Nohria, Nitin, Anthony Mayo, and Mark Benson. "William Levitt, Levittown and the Creation of American Suburbia." Harvard Business School Case 406-062, December 2005. (Revised March 2010.)
- February 2023
- Article
Nonprofits in Good Times and Bad Times
By: Christine L. Exley, Nils H. Lehr and Stephen J. Terry
Need fluctuates over the business cycle. We conduct a survey revealing a desire for nonprofit activities to countercyclically expand during downturns. We then demonstrate, using comprehensive U.S. nonprofit data drawn from millions of tax returns, that the public's... View Details
Exley, Christine L., Nils H. Lehr, and Stephen J. Terry. "Nonprofits in Good Times and Bad Times." Journal of Political Economy Microeconomics 1, no. 1 (February 2023): 42–79.
- May 2021
- Article
Mutual Funds as Venture Capitalists? Evidence from Unicorns
By: Josh Lerner, Sergey Chernenko and Yao Zeng
The past decade saw the rise of both “founder-friendly” venture financings and non-traditional investors, frequently with liquidity constraints. Using detailed contract data, we study open-end mutual funds investing in private venture-backed firms. We posit an... View Details
Keywords: Investment Funds; Investment; Business Startups; Venture Capital; Private Equity; Governance
Lerner, Josh, Sergey Chernenko, and Yao Zeng. "Mutual Funds as Venture Capitalists? Evidence from Unicorns." Review of Financial Studies 34, no. 5 (May 2021): 2362–2410.
- January 2013
- Article
Barriers to Household Risk Management: Evidence from India
By: Shawn A. Cole, Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert M. Townsend and James Vickery
Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and non-price factors in the adoption of an innovative rainfall insurance... View Details
Cole, Shawn A., Xavier Gine, Jeremy Tobacman, Petia Topalova, Robert M. Townsend, and James Vickery. "Barriers to Household Risk Management: Evidence from India." American Economic Journal: Applied Economics 5, no. 1 (January 2013): 104–135.
Incentivizing Calculated Risk-Taking: Evidence from an Experiment with Commercial Bank Loan Officers
This paper uses a series of experiments with commercial bank loan officers to test the effect of performance incentives on risk-assessment and lending decisions. We first show that, while high-powered incentives lead to greater screening effort and more... View Details
- March 2008
- Article
Can Civil Law Countries Get Good Institutions? Lessons from the History of Creditor Rights and Bond Markets in Brazil
By: Aldo Musacchio
Does a legal tradition adopted in the distant past constrain a country's ability to provide the protection that investors need for financial markets to develop? This paper contributes to the literature that studies the connection between law and finance by looking at... View Details
Musacchio, Aldo. "Can Civil Law Countries Get Good Institutions? Lessons from the History of Creditor Rights and Bond Markets in Brazil." Journal of Economic History 68, no. 1 (March 2008): 80–108. (***Winner of the Arthur H. Cole Prize for best paper in the Journal of Economic History, 2007-2008***.)
- June 2018
- Article
Deviations from Covered Interest Rate Parity
By: Wenxin Du, Alexander Tepper and Adrien Verdelhan
We find that deviations from the covered interest rate parity (CIP) condition imply large, persistent, and systematic arbitrage opportunities in one of the largest asset markets in the world. Contrary to the common view, these deviations for major currencies are not... View Details
Du, Wenxin, Alexander Tepper, and Adrien Verdelhan. "Deviations from Covered Interest Rate Parity." Journal of Finance 73, no. 3 (June 2018): 915–957.
- July 2008 (Revised November 2012)
- Supplement
UpDown: Confidential Instructions for GEORG
By: Noam Wasserman and Deepak Malhotra
Michael Reich is having severe doubts about how he split the equity with his co-founders two months ago, when they completed a one-page "November Agreement." Since then, Michael has found an angel investor and has worked non-stop on the business, while one co-founder... View Details
Wasserman, Noam, and Deepak Malhotra. "UpDown: Confidential Instructions for GEORG." Harvard Business School Supplement 809-022, July 2008. (Revised November 2012.)
- July 2008 (Revised November 2012)
- Supplement
UpDown: Confidential Instructions for MICHAEL
By: Noam Wasserman and Deepak Malhotra
Michael Reich is having severe doubts about how he split the equity with his co-founders two months ago, when they completed a one-page "November Agreement." Since then, Michael has found an angel investor and has worked non-stop on the business, while one co-founder... View Details
Wasserman, Noam, and Deepak Malhotra. "UpDown: Confidential Instructions for MICHAEL." Harvard Business School Supplement 809-021, July 2008. (Revised November 2012.)
- 06 Jul 2020
- News
Minor League Baseball as we know it may be gone
- 17 Nov 2016
- HBS Seminar
Fiona Scott Morton, Yale University
- 2010
- Working Paper
A Behavioral Model of Demandable Deposits and Its Implications for Financial Regulation
By: Julio J. Rotemberg
A model is developed that rationalizes contracts that give depositors the right to obtain funds on demand even when depositors intend to use these funds for consumption in the future. This is explained by depositor overoptimism regarding their own ability to collect... View Details
Keywords: Banks and Banking; Insurance; Governing Rules, Regulations, and Reforms; Policy; Consumer Behavior; Financial Services Industry
Rotemberg, Julio J. "A Behavioral Model of Demandable Deposits and Its Implications for Financial Regulation." NBER Working Paper Series, No. 16620, December 2010.
- March 2008 (Revised March 2009)
- Case
Purolator Courier Ltd.
By: Rajiv Lal and Catherine Ross
On a fall day in September 2003, Robert Swanborough made his way down a thickly carpeted hallway in Purolator's headquarters in Toronto, Canada, toward a meeting with his two deputies. Several months earlier, Swanborough, then vice-president of Marketing, had been... View Details
Keywords: Conferences; Customer Focus and Relationships; Leading Change; Marketing Strategy; Performance Effectiveness; Strategic Planning; Research; Segmentation; Canada
Lal, Rajiv, and Catherine Ross. "Purolator Courier Ltd." Harvard Business School Case 508-054, March 2008. (Revised March 2009.)
- Web
PhD Programs - Doctoral
through which firms create value and sustain performance over time. Strategy scholars develop a foundation in microeconomics and econometrics, and may supplement their understanding with additional economics topics—such as industrial organization, View Details