Publications

December 1981 (Revised September 1986)
Case

Marriott Corp.

By: Thomas R. Piper

Marriott is considering the repurchase of ten million shares. This is apparently at odds with the financial policies that the Board of Directors passed two years earlier. Students must discuss why the policies were passed and why changes are now necessary. Includes a... View Details

Keywords: Stocks; Policy; Governing and Advisory Boards; Change; Financial Strategy; Valuation

July 1981 (Revised June 1987)
Case

Hartmann Luggage Co.: Price Promotion Policy

By: John A. Quelch

The president and the marketing vice president are reviewing past Hartmann price promotions in order to decide whether to run one or more promotions in 1981-82. View Details

Keywords: Price; Product Marketing; Consumer Products Industry

1980
Book

Tax and Investment Policies for Hard Minerals: Public and Multinational Enterprises in Indonesia

By: Malcolm Gillis, Ralph Beals, Glenn Jenkins, L. T. Wells Jr. and Ulrich Peterson

Keywords: Taxation; Investment; Policy; Metals and Minerals; Multinational Firms and Management; Indonesia

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1979
Chapter

Capital Requirements in the Regulation of Financial Intermediaries: A Discussion

By: Robert C. Merton

Keywords: Capital; Financial Markets; Financial Institutions; Governing Rules, Regulations, and Reforms; Policy; Business and Government Relations; Financial Services Industry

September 1975 (Revised June 1983)
Background Note

Note on the Structural Analysis of Industries

By: Michael E. Porter

Provides a framework for the analysis of industry structure. Identifies the major structural features that influence the profit potential in industries and some illustrative implications of these for strategy formulation. Can be used as a reference note for business... View Details

Keywords: Industry Structures; Business Strategy; Profit

June 1975 (Revised July 1975)
Background Note

Experience and Cost: Some Implications for Manufacturing Policy

By: Steven C. Wheelwright

Keywords: Experience and Expertise; Cost Management

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1970
Report

Foreign Investment in Joint Ventures: Some Effects of Government Policies in Less Developed Countries

By: L. T. Wells Jr.

Keywords: Joint Ventures; Foreign Direct Investment; Policy; Developing Countries and Economies

March 1968 (Revised July 2010)
Case

Basic Industries

By: Joseph L. Bower and John W. Rosenblum

Policy problems, mainly organizational issues, face a young middle manager in the context of capital budgeting in a highly technological conglomerate firm with high market uncertainty. View Details

Keywords: Business Conglomerates; Capital Budgeting; Policy; Managerial Roles; Risk and Uncertainty

Research Summary

Corporate Governance and International Competitiveness

By: W. Carl Kester

W. Carl Kester's research involves comparisons of national or broad regional systems of corporate governance (e.g., German, Japanese, Anglo-American), and the influence these systems exert on corporate investment and international competitiveness. Kester has found... View Details

Forthcoming
Article

Crisis Interventions in Corporate Insolvency

By: Samuel Antill and Christopher Clayton

We model the optimal resolution of insolvent firms in general equilibrium. Collateral-constrained banks lend to (i) solvent firms to finance investments and (ii) distressed firms to avoid liquidation. Liquidations create negative fire-sale externalities. Liquidations... View Details

Keywords: Insolvent Firms; Government Intervention; Liquidation; Econometric Models; Insolvency and Bankruptcy; Policy

SSRN

Research Summary

Entrepreneurial Finance

By: William A. Sahlman

William A. Sahlman is examining the investment and financing decisions made at all stages in the development of entrepreneurial ventures. Related lines of inquiry concern the role of financial institutions in providing risk capital, and the role of government policy in... View Details

Teaching Interest

Finance II (MBA Required Curriculum)

By: Benjamin C. Esty

This course builds on the foundation developed in Finance I, focusing on three sets of managerial decisions:

How to evaluate complex investments.
How to set and execute financial policies within a firm.
How to integrate... View Details

Keywords: Finance

Forthcoming
Article

Half the Firms, Double the Profits: Public Firms' Transformation, 1996–2022

By: Mark J. Roe and Charles C.Y. Wang

The number of public firms in the United States has halved since the beginning of the twenty-first century, causing consternation among corporate and securities law regulators. The dominant explanations, often advanced by Securities and Exchange commissioners when... View Details

Keywords: Corporate Law; Securities Regulation; Sarbanes-Oxley Act; Concentration Levels; Antitrust; Initial Public Offering; Public Ownership; Private Equity; Venture Capital; Mergers and Acquisitions; Monopoly; United States

SSRN

Research Summary

International Financial Integration and Entrepreneurship (joint with Andrew Charlton)

By: Laura Alfaro

We explore the relation between international financial integration and the level of entrepreneurial activity in a country. Researchers have stressed the role of new firm activity and economic dynamism on growth. Yet, the empirical effects of international capital... View Details

Forthcoming
Article

Measurement and Effects of Bank Exit Policies

By: Daniel Green and Boris Vallée

We study whether exit policies by financial institutions have financial and real consequences on the firms they target, using bank coal exit policies as a laboratory. In contrast to theories assuming high capital substitutability, we find large effects of these... View Details

Keywords: Coal Power; Financing and Loans; Banks and Banking; Policy; Energy Industry