Publications

November 1992 (Revised November 1993)
Case

Anheuser-Busch and Campbell Taggart (Abridged)

In 1984, the SEC accused Paul Thayer and eight others of insider trading. Some of Thayer's inside information came from his position on the board of Anheuser-Busch, where he had learned about Busch's 1982 merger with Campbell Taggart before the merger was publicly... View Details

Keywords: Crime and Corruption; Ethics; Capital Markets; United States

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December 1988 (Revised March 1989)
Case

Pabst Brewing Co.

At the end of 1984 the Pabst Brewing Co. was the object of a takeover contest for the second time in three years. Nearly two years after a reorganization in early 1983 Pabst still suffered from low margins and high debt service costs. This case describes the takeover... View Details

Keywords: Valuation; Restructuring; Bids and Bidding; Acquisition; Manufacturing Industry; Food and Beverage Industry; United States

October 2020
Article

Peer Influence on Trade Credit

By: Daniel Gyimah, Michael Machokoto and Anywhere (Siko) Sikochi

We examine the influence of peer firms on trade credit policies of listed firms in the United States. We posit and find evidence that firms mimic their peers in formulating trade credit policies. The findings are more pronounced for firms in highly competitive product... View Details

Keywords: Trade Credit; Peer Effects; Product Market Competition; Trade; Credit; Policy; Competition

April 2002 (Revised October 2003)
Case

Pension Plan of Bethlehem Steel, 2001, The

By: Peter Tufano

Bethlehem Steel's 2001 bankruptcy filing inspires an employee's daughter to evaluate her father's pension plan, weeks after September 11's tragedies exacerbated a weakening U.S. economy and just months before her father planned to retire. Battered equity markets and... View Details

Keywords: Asset Management; Financial Instruments; Retirement; Steel Industry; United States

08 Dec 2020
News

Why Trump’s Visa Ban Cost Fortune 500 Firms $100 Billion

12 Oct 2017
News

Technology is revolutionising supply-chain finance

LabCDMX: Experiment 50

There were probably 30,000 public buses, minibuses, and vans in Mexico City. Though, in 2015, no one knew for certain since no comprehensive schedule existed. This was why el Laboratorio para la Ciudad (or LabCDMX) had spawned an effort to generate a map of the... View Details

June 2024
Article

Real Growth in Space Manufacturing Output Substantially Exceeds Growth in the Overall Space Economy

By: Tina Highfill and Matthew Weinzierl

Accurately measuring real economic output in the space economy is made difficult by the rapid increase in capabilities and decrease in prices of launch and satellite technologies achieved over the past two decades. Nominal measures of output in space will tend to... View Details

Keywords: Technological Innovation; Economic Growth; Price; Production; Aerospace Industry

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November 2024
Article

The Health Costs of Cost Sharing

By: Amitabh Chandra, Evan Flack and Ziad Obermeyer

What happens when patients suddenly stop their medications? We study the health consequences of drug interruptions caused by large, abrupt, and arbitrary changes in price. Medicare’s prescription drug benefit as-if-randomly assigns 65-year-olds a drug budget as a... View Details

Keywords: Outcome or Result; Health Care and Treatment; Budgets and Budgeting; Cost

2009
Working Paper

Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

By: Andre C. Martinez Fritscher and Aldo Musacchio

There is a large amount of literature that aims to explain what determines country risk (defined as the difference between the yield of a sovereign's bonds and the risk-free rate). In this paper, we contribute to the discussion by arguing that an important explanatory... View Details

Keywords: Business History; Sovereign Finance; Goods and Commodities; Risk and Uncertainty; Trade; Taxation; Cost of Capital; Revenue; Brazil

October 2017
Article

The Size of the LGBT Population and the Magnitude of Anti-Gay Sentiment Are Substantially Underestimated

By: Katherine Baldiga Coffman, Lucas C. Coffman and Keith M. Marzilli Ericson

We demonstrate that widely used measures of anti-gay sentiment and the size of the LGBT population are misestimated, likely substantially. In a series of online experiments using a large and diverse but non-representative sample, we compare estimates from the standard... View Details

Keywords: LGBTQ; Social Trends ＆ Culture; Economic Theory; Prejudice; Prejudice and Bias; Diversity; Economics; Demographics

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January 2023 (Revised August 2023)
Case

Veeva Systems and the Transformation to a Public Benefit Corporation

By: Ranjay Gulati and Allison M. Ciechanover

Peter Gassner, the co-founder and CEO of Veeva Systems, steered the company through rapid scaling from its launch in 2007 to 2022. Year after year, the company had exceeded expectations, with its market capitalization reaching $50 billion at its peak. By 2022, the... View Details

Keywords: Transformation; Corporate Governance; Corporate Social Responsibility and Impact; Mission and Purpose; Organizational Culture; Information Technology Industry; Technology Industry; United States; California

2019
White Paper

Impact-Weighted Financial Accounts: The Missing Piece for an Impact Economy

By: George Serafeim, T. Robert Zochowski and Jennifer Downing

Reimagining capitalism is an imperative. We need to create a more inclusive and sustainable form of capitalism that works for every person and the planet. Massive environmental damage, growing income and wealth disparity, stress, and depression within developed... View Details

Keywords: Impact-Weighted Accounts; IWAI; Background; Economic Systems; Economy; Corporate Social Responsibility and Impact; Measurement and Metrics; Financial Statements

25 Feb 2019
Research & Ideas

How Gender Stereotypes Kill a Woman’s Self-Confidence

better handle on, like the Kardashians, Disney movies, cooking, art and literature, and verbal skills. Then they were quizzed in categories considered favorable for men, such as business, math, videogames, cars, and sports. Respondents were asked to View Details

Keywords: by Dina Gerdeman

September 2016 (Revised October 2018)
Case

LabCDMX: Experiment 50

By: Mitchell Weiss and Maria Fernanda Miguel

There were probably 30,000 public buses, minibuses, and vans in Mexico City. Though, in 2015, no one knew for certain since no comprehensive schedule existed. This was why el Laboratorio para la Ciudad (or LabCDMX) had spawned an effort to generate a map of the... View Details

Keywords: Public Entrepreneurship; Experimentation; Lean Startup; Government; Innovation; Crowdsourcing; Open Data; Entrepreneurship; Social Entrepreneurship; Innovation and Invention; Innovation Leadership; Government Administration; Transportation; Transportation Industry; Mexico City; Mexico

February 2007
Article

Strategic Bidder Behavior in Sponsored Search Auctions

By: Benjamin Edelman and Michael Ostrovsky

We examine sponsored search auctions run by Overture (now part of Yahoo!) and Google and present evidence of strategic bidder behavior in these auctions. Between June 15, 2002, and June 14, 2003, we estimate that Overture's revenue from sponsored search might have been... View Details

Keywords: Auctions; Strategy; Behavior; Revenue; Performance Efficiency; Bids and Bidding; Search Technology

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