Publications

2020
Working Paper

Venture Capitalists and COVID-19

By: Paul A. Gompers, Will Gornall, Steven N. Kaplan and Ilya A. Strebulaev

We survey over 1,000 institutional and corporate venture capitalists (VCs) at more than 900 different firms to learn how their decisions and investments have been affected by the COVID-19 pandemic. We compare their survey answers to those provided by a large sample of... View Details

Keywords: Venture Capital; Health Pandemics; Investment; Decision Making; Surveys

Reaching-for-yield — the propensity to buy riskier assets in order to achieve higher yields — is believed to be an important factor contributing to the credit cycle. This paper analyses this phenomenon in the corporate bond market. Specifically, we show evidence for... View Details

November 2021
Article

Venture Capitalists and COVID-19

By: Paul A. Gompers, Will Gornall, Steven N. Kaplan and Ilya A. Strebulaev

We survey over 1,000 institutional and corporate venture capitalists (VCs) at more than 900 different firms to learn how their decisions and investments have been affected by the COVID-19 pandemic. We compare their survey answers to those provided by a large sample of... View Details

Keywords: Investment Decisions; COVID-19 Pandemic; Impact; Health Pandemics; Venture Capital; Investment; Decision Making; Surveys

February 2019
Teaching Note

Talent@Tencent

By: Tarun Khanna

Late in 2016, two senior human resources (HR) executives at Tencent Holdings (Tencent), China’s leading Internet services firm, are assessing the effectiveness of the company’s talent management practices in responding to Tencent’s sustained hypergrowth. Over the... View Details

Keywords: Talent and Talent Management; Employees; Retention; Entrepreneurship; Employee Relationship Management; Web Services Industry; China

Purchase

May 2014
Article

Cynicism in Negotiation: When Communication Increases Buyers' Skepticism

By: Eyal Ert, Stephanie J. Creary and Max H. Bazerman

The economic literature on negotiation shows that strategic concerns can be a barrier to agreement, even when the buyer values the good more than the seller. Yet behavioral research demonstrates that human interaction can overcome these strategic concerns through... View Details

Keywords: Trust; Information Asymmetry; Perspective Taking; Reactive Devaluation

2010
Mimeo

An Analysis of the Impact of 'Substantially Heightened' Capital Requirements on Large Financial Institutions

By: Anil Kashyap, Jeremy C. Stein and Samuel G. Hanson

We examine the impact of "substantially heightened" capital requirements on large financial institutions, and on their customers. Our analysis yields three main conclusions. First, the frictions associated with raising new external equity finance are likely to be... View Details

Keywords: Financial Institutions; Governing Rules, Regulations, and Reforms; Capital; Equity; Financing and Loans; Credit

September 2008
Article

Firm Heterogeneity and Credit Risk Diversification

By: Samuel G. Hanson, M. Hashem Pesaran and Til Schuermann

This paper examines the impact of neglected heterogeneity on credit risk. We show that neglecting heterogeneity in firm returns and/or default thresholds leads to under estimation of expected losses (EL), and its effect on portfolio risk is ambiguous. Once EL is... View Details

Keywords: Volatility; Credit; Investment Return; Outcome or Result; Risk and Uncertainty; Loss; Diversification; Complexity; United States

11 Jan 2013
Working Paper Summaries

The Spatial Diffusion of Technology

Keywords: by Diego A. Comin, Mikhail Dmitriev & Esteban Rossi-Hansberg

September 2016
Article

Do Display Ads Influence Search?: Attribution and Dynamics in Online Advertising

By: Pavel Kireyev, Koen Pauwels and Sunil Gupta

As firms increasingly rely on online media to acquire consumers, marketing managers feel comfortable justifying higher online marketing spending by referring to online metrics such as click-through rate (CTR) and cost per acquisition (CPA). However, these standard... View Details

Keywords: Internet and the Web; Digital Marketing

24 Feb 2011
Research & Ideas

What’s Government’s Role in Regulating Home Purchase Financing?

all, if the government charges the right price for bearing the credit risk of its guarantee, the effect on mortgage rates is likely to be small. Second, the government guarantee proposals that involve... View Details

Keywords: by Sean Silverthorne; Financial Services

Article

Psychological Safety and Near Miss Events in Radiation Oncology

By: Palak Kundu, Olivia Jung, Kathy Rose, Chonlawan Khaothiemsang, Nzhde Agazaryan, Amy C. Edmondson, Michael L. Steinberg and Ann C. Raldow

Background: Near miss events, defined as harm averted due to chance, are learning opportunities in radiation oncology. Psychological safety is a feature of a learning environment characterized by interpersonal risk taking. We examine the effects of near miss type and... View Details

04 Feb 2008
Research & Ideas

Putting Entrepreneurship in the Social Sector

just a matter of mobilizing more resources to the field, but also developing entirely new models and ways of achieving sustainable mission impact. This reality makes social entrepreneurship approaches that achieve better leverage on resources, enhance View Details

Keywords: by Sean Silverthorne

30 Jun 2009
First Look

First Look: June 30

utility. The federal debt could be at $20 trillion, the top income tax rate at 45%, and the S&P 500 at 418. Ferguson, a professor at Harvard University and Harvard Business School, imagines that to be... View Details

Keywords: Martha Lagace

June 2002 (Revised June 2014)
Case

The Netherlands: Is the Polder Model Sinking?

By: Huw Pill, Marie-Laure Y Goepfer, Mathijs Robbens and Ingrid Vogel

The Netherlands suffered economic crisis in the late 1970s and early 1980s, despite (or perhaps because of) its access to North Sea gas. In response to mounting inflation and unemployment, a tripartite agreement between employers, unions, and government was reached in... View Details

Keywords: Macroeconomics; Labor Unions; Netherlands

Educators

Purchase

20 Aug 2013
First Look

First Look: August 20

competitors, prize allocation and structure, divisionalization, open entry) as a means of reconciling non-monotonic incentive responses to competition, effectively manipulating the number and skills distribution of contestants facing one... View Details

Keywords: Anna Secino

04 Oct 2011
Working Paper Summaries

Reviews, Reputation, and Revenue: The Case of Yelp.com

Keywords: by Michael Luca; Food & Beverage

Research Summary

Optimal Reserve Management and Sovereign Debt (with Fabio Kanczuk)

By: Laura Alfaro

Most models currently used to determine optimal foreign reserve holdings take the level of international debt as given. Some of the implications of this analysis, however, may not be generalized once one considers the joint decision to hold debt and reserves by a... View Details

16 Jul 2007
Research & Ideas

Understanding the ‘Want’ vs. ’Should’ Decision

consumer spending habits, and effective store layout. Sarah Jane Gilbert: What is the difference between the "want-self" and the "should-self"? How does psychology play a role in the internal conflict between the 2?... View Details

Keywords: by Sarah Jane Gilbert; Retail; Entertainment & Recreation

2023
Working Paper

Are Hospital Quality Indicators Causal?

By: Amitabh Chandra, Maurice Dalton and Douglas O. Staiger

Hospitals play a key role in patient outcomes and spending, but efforts to improve their quality are hindered because we do not know whether hospital quality indicators are causal or biased. We evaluate the validity of commonly used quality indicators, such as... View Details

Keywords: Quality; Health Care and Treatment; Measurement and Metrics; Outcome or Result; Health Industry