Publications

2017
Working Paper

What Else Do Shareholders Want? Shareholder Proposals Contested by Firm Management

By: Eugene F. Soltes, Suraj Srinivasan and Rajesh Vijayaraghavan

Shareholder proposals provide investors an opportunity to exercise their decision rights within firms, but managers can seek permission from the Securities and Exchange Commission (SEC) to dismiss proposals. We find that managers seek to exclude 39% of all proposals... View Details

Keywords: Voting; Business and Shareholder Relations

SSRN

06 Jul 2018
News

The Real Problem With Stock Buybacks

January 2011
Case

A Slice of the Pie: Ruby Collins and Tenants in Common

By: John D. Macomber and Kristian Peterson

A securitized small real estate investment vehicle fails and the many individual owners have to decide how to manage or dispose of the asset. This case follows Ruby Collins, a small investor, through the logic of Section 1031 Like Kind Exchanges as well as the... View Details

Keywords: Financial Instruments; Investment; Risk Management; Ownership Stake; Partners and Partnerships; Valuation; Real Estate Industry

Educators

Purchase

Article

Guanxi versus Networking: Distinctive Configurations of Affect- and Cognition-based Trust in the Networks of Chinese and American Managers

By: Roy Y.J. Chua, M.W. Morris and P. Ingram

This research investigates hypotheses about differences between Chinese and American managers in the configuration of trusting relationships within their professional networks. Consistent with hypotheses about Chinese familial collectivism, an egocentric network survey... View Details

Keywords: Cross-Cultural and Cross-Border Issues; Managerial Roles; Relationships; Cognition and Thinking; Emotions; Social and Collaborative Networks; Trust; China; United States

Article

Reputation When Threats and Transfers Are Available

By: Ernesto Dal Bo, Pedro Dal Bo and Rafael Di Tella

We present a model where a long-run player is allowed to use both money transfers and threats to influence the decisions of a sequence of short-run players. We show that threats might be used credibly (even in arbitrarily short repeated games) by a long-lived player... View Details

Keywords: Crime and Corruption; Decision Choices and Conditions; Game Theory; Mathematical Methods; Interests; Power and Influence; Reputation

October 2008
Article

Evaluating the CEO

By: Stephen P. Kaufman

This article includes a one-page preview that quickly summarizes the key ideas and provides an overview of how the concepts work in practice along with suggestions for further reading. After Kaufman became a CEO, he was struck by how perfunctory the board was in its... View Details

Keywords: Decision Choices and Conditions; Governing and Advisory Boards; Leadership; Managerial Roles; Performance Evaluation; Motivation and Incentives

Program

Creating Brand Value

exed_admissions@hbs.edu or call us at +1.617.495.6226. Application Review To optimize the learning experience and maximize the exchange of ideas, our Admissions Committee makes selections that balance each participant's experience, scope... View Details

Program

Managing Turbulence

impact in all three areas of strategic leadership. Immersed in a vibrant exchange with renowned HBS faculty and a global group of accomplished peers, you will share diverse perspectives and new industry insights. The opening and capstone... View Details

2012
Working Paper

Mexico's Financial Crisis of 1994-1995

By: Aldo Musacchio

This paper explains the causes leading to the Mexican crisis of 1994-1995 (known as "The Tequila Crisis"), and its short- and long-term consequences. It argues that excessive enthusiasm on the part of foreign investors, not based on Mexico's fundamentals, and weak... View Details

Keywords: Financial Crisis; Foreign Direct Investment; Banks and Banking; Government and Politics; Currency Exchange Rate; Banking Industry; Mexico

Program

Investment Management Workshop

exed_admissions@hbs.edu or call us at +1.617.495.6226. Application Review To optimize the learning experience and maximize the exchange of ideas, our Admissions Committee makes selections that balance each participant's experience, scope... View Details

February 2008 (Revised November 2011)
Case

The International Monetary Fund in Crisis

By: Rawi Abdelal, David Moss and Eugene Kintgen

When Dominique Strauss-Kahn became the Managing Director of the International Monetary Fund in late 2007, he faced a number of significant changes. The organization had lost much of its legitimacy over the previous decade, and countries seemed increasingly reluctant to... View Details

Keywords: History; Globalized Economies and Regions; Problems and Challenges; Developing Countries and Economies; Borrowing and Debt; Government and Politics; Financial Institutions; Business Strategy; Macroeconomics; Financial Services Industry

Educators

Purchase

March 1986 (Revised December 1986)
Case

British Telecommunications, PLC

Presents a description of international equity markets, including comparisons of the U.S., Japanese, and British markets and recent trends toward deregulation of these markets. The decision focus of the case is on the initial public offerings of British... View Details

Keywords: International Finance; Initial Public Offering; Capital Markets; Canada; London; Tokyo

Educators

Purchase

Article

Undermining Value-Based Purchasing — Lessons from the Pharmaceutical Industry

By: Leemore S. Dafny, Christopher Ody and Matt Schmitt

The analogy between value-based purchasing in pharmaceuticals and the new frontier of alternative payment models for health care providers is relatively straightforward. Insurers are increasingly demanding steep discounts from providers in exchange for inclusion in... View Details

Keywords: Drug Copayment Coupons; Prescription Drug Policy; Health Care and Treatment; Insurance; Cost; Policy; Pharmaceutical Industry