Publications

January 2009
Article

Bank Debt and Corporate Governance

By: Victoria Ivashina, Vinay Nair, Anthony Saunders, Nadia Massoud and Roger Stover

In this paper, we investigate the disciplining role of banks and bank debt in the market for corporate control. We find that relationship bank lending intensity and bank client network have positive effects on the probability of a borrowing firm becoming a target. This... View Details

Keywords: Corporate Governance; Borrowing and Debt; Banks and Banking; Business and Stakeholder Relations; Governance Controls; Managerial Roles

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2023
Working Paper

Where Strategy Matters: Evidence from a Global Startup Field Study

By: Nataliya Langburd Wright

The role of strategy for innovative startups is theoretically ambiguous and much debated among practitioners. I interviewed executives of 253 scaling software ventures from 34 countries and scored the alignment of their market and organizational choices to detect... View Details

Keywords: Entrepreneurship And Strategy; Scaling Technology Ventures; Global Contextual Intelligence; Strategy; Entrepreneurship; Global Strategy; Growth and Development Strategy

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October 2020 (Revised December 2020)
Case

AfricInvest: A Pan-African Investment Platform

By: Victoria Ivashina and Youssef Abdel Aal

The case is set in December 2018, when Ziad Oueslati, co-managing director and co-founder of AfricInvest, a leading pan-African private equity firm headquartered in Tunisia, was reflecting on the future direction of his firm. AfricInvest started as a traditional small... View Details

Keywords: Finance; Private Equity; Venture Capital; Strategy; Governance; Financial Services Industry; Tunisia; Africa; Middle East

28 Sep 2009
Research & Ideas

Improving Accountability at the World Bank

Editor's Note: As an institution charged with fighting global poverty, the World Bank has found itself on the firing line of late. Critics cite a persistent lack of... View Details

Keywords: by Alnoor Ebrahim

June 2021
Case

The Canada Pension Plan Investment Board (CPP Investments): April 2021

By: Josh Lerner, Reza Satchu and Alys Ferragamo

The Canada Pension Plan Investment Board (CPPIB) is one of the largest pools of investment capital in the world and follows a rigorous “Total Portfolio Framework” in its approach to investment management. In April of 2021, John Graham was just two months into his role... View Details

Keywords: Pension Funds; Investment Strategy; Capital Markets; Financial Strategy; Investment; Asset Management; Financial Institutions; Private Equity; Growth and Development Strategy; Investment Portfolio; Assets; Financial Markets; Financial Services Industry; Canada

André Perold is a Founder, Partner, and Chief Investment Officer of HighVista Strategies, a Boston-based investment firm. HighVista focuses on investing in structurally inefficient public and private markets, including in life sciences, lower middle market private... View Details

Keywords: banking; financial services; information; investment banking industry; professional services

2010
Book

International Differences in Entrepreneurship

By: Josh Lerner and Antoinette Schoar

Often considered one of the major forces behind economic growth and development, the entrepreneurial firm can accelerate the speed of innovation and dissemination of new technologies, thus increasing a country's competitive edge in the global market. As a result,... View Details

Keywords: Developing Countries and Economies; Economic Growth; Entrepreneurship; Globalized Economies and Regions; Governing Rules, Regulations, and Reforms; Supply and Industry; Business and Government Relations

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29 Jun 2021
Blog Post

DIVERSIFYING OUR CASE PROTAGONISTS: HOW IS HARVARD BUSINESS SCHOOL DOING A YEAR LATER?

In the wake of George Floyd’s murder and the resurgent Black Lives Matter movement that followed, institutions across the country, including Harvard Business School (HBS), examined themselves with a critical... View Details

30 Jun 2021
Blog Post

Diversifying Our Case Protagonists: How is Harvard Business School Doing a Year Later?

In the wake of George Floyd’s murder and the resurgent Black Lives Matter movement that followed, institutions across the country, including Harvard Business School (HBS), examined themselves with a critical... View Details

December 2004
Case

Money and Banking in America

By: Nancy F. Koehn and Stephen A. Mihm

Provides a concise overview of the critical role that money and the nation's banking system have played in the development of the U.S. economy. Tells the story of money and banking in the United States, from the earliest settlements in the colonial era through the 20th... View Details

Keywords: History; Money; Banks and Banking; United States

July 2024
Article

The Home State Effect: How Subnational Governments Shape Climate Coalitions

By: Jonas Meckling and Samuel Trachtman

Organized business interests often seek to block public interest regulations. But whether firms oppose regulation depends on institutional context. We argue that, in federal systems, sub-national policies and politics can have a home state effect on firms' national... View Details

Keywords: Local Range; Governing Rules, Regulations, and Reforms; Business and Government Relations

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2022
Working Paper

Retail Investors’ Contrarian Behavior Around News, Attention, and the Momentum Effect

By: Cheng (Patrick) Luo, Enrichetta Ravina, Marco Sammon and Luis M. Viceira

Using a large panel of U.S. brokerage accounts trades and positions, we show that a large fraction of retail investors trade as contrarians after large earnings surprises, especially for loser stocks, and that such contrarian trading contributes to post earnings... View Details

Keywords: Retail Investors; Post Earnings Announcement Drift; Price Momentum; Behavioral Finance; Investment; Demographics

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Research Summary

Making Markets Work: An Executive Education Program for Africa

By: Debora L. Spar

In the last decades of the 20th century economic growth was distributed unevenly across the world. While some countries experienced sustained and unprecedented prosperity, others fell further and further behind. This widening gap was particularly evident in Africa,... View Details

Innovating for Sustainability

Every major company is grappling with the meaning and application of sustainability in relation to its geographic location, industry and business model. Similarly, more and more institutional investors are incorporating sustainability into their... View Details

16 Jun 2003
Research & Ideas

Surveying the VC Landscape

public within five to seven years of its initial financing, will be able to pursue research that will not have a payoff for fifteen, twenty, or even more years in the future. (But it's not impossible—after all, venture capital has played... View Details

Keywords: by Ann Cullen; Financial Services

2017
Working Paper

Business and Green Knowledge Production in Sweden 1960s–1980s

By: Ann-Kristin Bergquist and Kristina Söderholm

This working paper contributes to the burgeoning historical literature that has transformed our understanding about the relationship between big business and the environmental regulation. Previously, it was believed that corporate managers resisted the extra costs... View Details

Keywords: Environmental Sustainability; Governing Rules, Regulations, and Reforms; Business and Government Relations; Research and Development; History; Sweden

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March 2018
Case

Summit Public Schools (A)

By: John J-H Kim and Aldo Sesia

Summit Public Schools was a very successful charter management organization with schools in California and Washington State. The students came from a variety of socioeconomic backgrounds, many from economically disadvantaged households. While nearly all of its students... View Details

Keywords: K-12; Online Learning; Virtual Learning; Blended Learning; Secondary Education; Middle School Education; Early Childhood Education; Learning; Business Model; Performance Improvement; Technology

26 Jul 2024
Research & Ideas

Why Great Ideas Get Stuck in Universities

commercial hindrance. A recent study of more than 500 biomedical startups suggests that ventures rooted in the core research of their founders have a more challenging time reaching key measures View Details

Keywords: by Ben Rand; Biotechnology; Health

January 1991 (Revised October 1993)
Background Note

Note on Bank Loans

Describes traditional bank lending product, the role of the lending officer, credit evaluation, and the structuring of credit facilities and loan agreements. View Details

Keywords: Financing and Loans; Banks and Banking; Banking Industry