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  • Research Summary

By: Ashish Nanda
Ashish Nanda's research focuses on ethics and economics of managing professional service firms.

Nanda is working on a project that studies how management of conflict of interest influences professional identity, the role of professional associations, and the... View Details

  • 08 Feb 2013
  • Working Paper Summaries

The Dynamic Advertising Effect of Collegiate Athletics

Keywords: by Doug J. Chung; Sports
  • April 22, 2021
  • Article

Shareholders Are Pressing for Climate Risk Disclosures. That's Good for Everyone

By: Caroline Flammer, Michael W. Toffel and Kala Viswanathan
Does shareholder activism induce firms to voluntarily disclose climate change risks? And how do markets respond to these disclosures? New research finds that the extent of climate-risk disclosure increases by approximately 4.6% for each environment-related proposal... View Details
Keywords: Reporting; Transparency; Activism; Shareholder Activism; Shareholder Engagement; Climate Change; Corporate Disclosure; Investment Activism; Business and Shareholder Relations
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Flammer, Caroline, Michael W. Toffel, and Kala Viswanathan. "Shareholders Are Pressing for Climate Risk Disclosures. That's Good for Everyone." Harvard Business Review Digital Articles (April 22, 2021).
  • February 2013
  • Article

Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge

By: Bo Becker, Guhan Subramanian and Daniel B. Bergstresser
We use the Business Roundtable's challenge to the SEC's 2010 proxy access rule as a natural experiment to measure the value of shareholder proxy access. We find that firms that would have been most vulnerable to proxy access, as measured by institutional ownership and... View Details
Keywords: Financial Markets; Business and Shareholder Relations
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Becker, Bo, Guhan Subramanian, and Daniel B. Bergstresser. "Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge." Journal of Law & Economics 56, no. 1 (February 2013): 127–160.
  • November 1996 (Revised March 2001)
  • Case

Sime Darby Berhad (A): 1995

By: Tarun Khanna, Michael Y. Yoshino and Danielle J. Melito
Sime Darby is one of South Asia's largest regional conglomerates. In 1995, it is contemplating entry into the fast-growing financial services sector in Malaysia through the acquisition of a Malaysian bank. This is in keeping with its activities mirroring those of the... View Details
Keywords: Acquisition; Business Conglomerates; Economy; Capital Markets; Emerging Markets; Business and Government Relations; Corporate Strategy; Value Creation; Financial Services Industry; Malaysia
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Khanna, Tarun, Michael Y. Yoshino, and Danielle J. Melito. "Sime Darby Berhad (A): 1995." Harvard Business School Case 797-017, November 1996. (Revised March 2001.)
  • February 1994 (Revised September 1995)
  • Case

Leland O'Brien Rubinstein Associates, Inc.: Portfolio Insurance

By: Peter Tufano
Leland O'Brien Rubinstein Associates, a small financial advisory firm founded in 1980, has created a successful business by selling a product commonly known as portfolio insurance. Portfolio insurance is a trading strategy that institutional investors use to establish... View Details
Keywords: Investment Portfolio; Insurance; Product; Financial Services Industry
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Tufano, Peter, and Barbara Kyrillos. "Leland O'Brien Rubinstein Associates, Inc.: Portfolio Insurance." Harvard Business School Case 294-061, February 1994. (Revised September 1995.)
  • Forthcoming
  • Article

Second Chance: Life with Less Student Debt

By: Marco Di Maggio, Ankit Kalda and Vincent Yao
This paper examines the effect of student debt relief on individual credit and labor market outcomes. We exploit an episode of plausibly random debt discharge due to the loss of paperwork for thousands of borrowers to examine the effects of private student debt relief... View Details
Keywords: Student Debt; Private Student Loans; Legal Settlement; Mobility; Debt Collection; Debt Relief; Personal Finance; Borrowing and Debt; Outcome or Result
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Di Maggio, Marco, Ankit Kalda, and Vincent Yao. "Second Chance: Life with Less Student Debt." Journal of Finance (forthcoming).
  • 2017
  • Chapter

The Swedish Competitiveness Scorecard 2017

By: Christian H.M. Ketels
The Swedish Competitiveness Scorecard assesses Sweden's current competitiveness across a broad range of indicators, applying an impact logic from competitiveness fundamentals to productivity and prosperity outcomes. On these indicators Sweden is compared to a peer... View Details
Keywords: Competitiveness; Sweden; Economic Policy; Economy; Policy; Competition; Sweden
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Ketels, Christian H.M. "The Swedish Competitiveness Scorecard 2017." Chap. 2 in Swedish Economic Forum Report 2017: Svensk konkurrenskraft, edited by Johan Eklund and Per Thulin, 18–46. Sweden: Swedish Entrepreneurship Forum, 2017, Swedish ed.
  • June 1999 (Revised February 2013)
  • Case

The California Wine Cluster

By: Michael E. Porter and Gregory C Bond
Describes the California wine cluster, or the group of interconnected wineries, grape growers, suppliers, service providers, and wine-related institutions located in California. Also describes the wine cluster in France, Italy, Australia, and Chile, the four other... View Details
Keywords: Agribusiness; Geographic Location; Industry Clusters; Business and Government Relations; Competition; Food and Beverage Industry; California
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Porter, Michael E., and Gregory C Bond. "The California Wine Cluster." Harvard Business School Case 799-124, June 1999. (Revised February 2013.)
  • Fall, 2024
  • Article

Sixty Years of the Voting Rights Act: Progress and Pitfalls

By: Andrea Bernini, Giovanni Facchini, Marco Tabellini and Cecilia Testa
We review the literature on the effects of the 1965 Voting Rights Act (VRA), which removed formal restrictions to Black political participation. After a brief description of racial discrimination suffered by Black Americans since Reconstruction, we introduce the goals... View Details
Keywords: Prejudice and Bias; Equality and Inequality; Race; Political Elections; Voting; Policy; Outcome or Result; Government Legislation
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Bernini, Andrea, Giovanni Facchini, Marco Tabellini, and Cecilia Testa. "Sixty Years of the Voting Rights Act: Progress and Pitfalls." Oxford Review of Economic Policy 40, no. 3 (Fall, 2024): 486–497.
  • 2018
  • Dictionary Entry

Communicating about Climate Change with Corporate Leaders and Stakeholders

By: Andrew J. Hoffman
Within the corporate sector, climate change represents an unfolding market shift, one that is driven by policy but also by pressures from a variety of market constituents such as consumers, suppliers, buyers, insurance companies, banks, and others. The shift takes... View Details
Keywords: Adaptation; Climate Change; Transition; Innovation Strategy; Markets
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Hoffman, Andrew J. "Communicating about Climate Change with Corporate Leaders and Stakeholders." In The Oxford Encyclopedia of Climate Change Communication. 3 vols. Edited by Matthew Nisbet, Shirley Ho, Ezra Markowitz, Saffron O’Neill, Mike Schäfer, and Jagadish Thaker. Oxford University Press, 2018.
  • 22 Aug 2006
  • First Look

First Look: August 22, 2006

  Working PapersCartels and Competition: Neither Markets nor Hierarchies Author:Jeffrey Fear Abstract This article provides an overview on the rise and fall of cartels since the late 19th century when the modern cartel movement properly... View Details
Keywords: Martha Lagace
  • 17 Jan 2017
  • First Look

First Look at New Research: January 17

hurting firm profits. Overcoming Institutional Voids: A Reputation-Based View of Long Run Survival By: Gao, Cheng, Tiona Zuzul, Geoffrey Jones, and Tarun Khanna Abstract—Emerging markets are characterized by... View Details
Keywords: Sean Silverthorne
  • 04 May 2009
  • Working Paper Summaries

An Ounce of Prevention: The Power of Public Risk Management in Stabilizing the Financial System

Keywords: by David A. Moss; Banking; Financial Services
  • 17 Aug 2021
  • Op-Ed

Dispensing Justice: The Case for Legalizing Cannabis Nationally

in states like Massachusetts to be unduly expensive and prevents growers in states like California from achieving economies of scale because of limited market size. Small, fragmented markets also limit... View Details
Keywords: by Ashish Nanda and Tabatha Robinson
  • April 2008
  • Case

Chunghwa Telecom Co., Ltd. (A)

By: Paul W. Marshall, Michael Shih-ta Chen and Keith Chi-ho Wong
In late November 2000, Chunghwa Telecom Co., Ltd., the once-monopolized telecom operator owned by the Taiwanese government, was on its way to privatization. Mr. C.K. Mao, Chairman of the company, who headed the job only three months earlier, after its prior chairman... View Details
Keywords: Entrepreneurship; Governing Rules, Regulations, and Reforms; Employee Relationship Management; Leading Change; Organizational Change and Adaptation; Privatization; Competition; Telecommunications Industry; Taiwan
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Marshall, Paul W., Michael Shih-ta Chen, and Keith Chi-ho Wong. "Chunghwa Telecom Co., Ltd. (A)." Harvard Business School Case 808-137, April 2008.
  • March 2008 (Revised November 2008)
  • Case

Databank in Africa

By: Jordan Siegel and Yi Kwan Chu
This case tackles issues of regional strategy and strategic institutional arbitrage. Databank is a financial services firm designing its regional strategy for Africa and seeking to benefit from institutional arbitrage. View Details
Keywords: Developing Countries and Economies; Local Range; Emerging Markets; Service Operations; Business Strategy; Financial Services Industry; Africa
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Siegel, Jordan, and Yi Kwan Chu. "Databank in Africa." Harvard Business School Case 708-478, March 2008. (Revised November 2008.)
  • December 2012
  • Article

Estimating the Value of Connections to Vice-President Cheney

By: Rakesh Khurana, Raymond Fisman, Julia Galef and Yongxiang Wang
We estimate the market valuation of personal ties to Richard Cheney. Our proxies for personal ties are based on corporate board linkages that are prevalent in the network sociology literature. We consider a number of distinct political and personal events that either... View Details
Keywords: Event Analysis; Political Economy; Corruption; Networks; United States
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Khurana, Rakesh, Raymond Fisman, Julia Galef, and Yongxiang Wang. "Estimating the Value of Connections to Vice-President Cheney." B.E. Journal of Economic Analysis & Policy 13, no. 3 (December 2012).
  • 26 Mar 2013
  • First Look

First Look: March 26

Friedman-is that managers should act to maximize shareholder value, and thus that they should take every opportunity (within the bounds of the law) to structure market institutions so as to increase... View Details
Keywords: Sean Silverthorne
  • 2012
  • Chapter

Structuring Consulting Firms

By: Tim Morris, Heidi K. Gardner and N. Anand
This chapter presents a model of the way in which consulting and other professional-service firms organize themselves and grow. We will argue that the fundamental structural-design challenge for consulting firms, like other professional firms, is to adapt appropriately... View Details
Keywords: Experience and Expertise; Management Practices and Processes; Demand and Consumers; Service Operations; Organizational Design; Organizational Structure; Projects; Groups and Teams; Consulting Industry; Service Industry
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Morris, Tim, Heidi K. Gardner, and N. Anand. "Structuring Consulting Firms." In The Oxford Handbook of Management Consulting, edited by Matthias Kipping and Timothy Clark. Oxford University Press, 2012.
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