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- Faculty Publications (132)
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- All HBS Web (717)
- Faculty Publications (132)
- April 2022
- Article
Going Out or Opting Out? Capital, Political Vulnerability, and the State in China's Outward Investment
By: Meg Rithmire
How do state-business relations interact with outward investment in authoritarian regimes? This paper examines this question in the context of China’s rapid transformation into a major capital exporter. While most political economy scholarship focuses on firms’... View Details
Keywords: Outward Investment; Capital Controls; Corruption; Foreign Direct Investment; Political Economy; State-owned Enterprises; Investment; Global Range; Capital; Globalization; Policy; Government and Politics; China
Rithmire, Meg. "Going Out or Opting Out? Capital, Political Vulnerability, and the State in China's Outward Investment." Comparative Politics 54, no. 3 (April 2022): 477–499.
- Article
The Stock Selection and Performance of Buy-Side Analysts
We examine the selection and performance of stocks recommended by analysts at a large investment firm relative to those of sell-side analysts during the period mid-1997 and 2004. The buy-side firm's analysts issued less optimistic recommendations for stocks with larger... View Details
Keywords: Buy-side Analysts; Sell-side Analysts; Stock Recommendations; Recommendation Optimism; Recommendation Performance; Investment Recommendations; Conflicts Of Interest; Financial Markets; Financial Institutions; Stocks; Financial Services Industry; United States
Groysberg, Boris, Paul M. Healy, Georgios Serafeim, Devin Shanthikumar, and Gui Yang. "The Stock Selection and Performance of Buy-Side Analysts." Harvard Business School Working Knowledge (March 20, 2012).
- May 2013
- Article
The Stock Selection and Performance of Buy-Side Analysts
Prior research on equity analysts focuses almost exclusively on those employed by sell-side investment banks and brokerage houses. Yet investment firms undertake their own buy-side research and their analysts face different stock selection and recommendation incentives... View Details
Keywords: Buy-side Analysts; Sell-side Analysts; Stock Recommendations; Recommendation Optimism; Recommendation Performance; Investment Recommendations; Conflicts Of Interest; Financial Markets; Financial Institutions; Financial Services Industry; United States
Groysberg, Boris, Paul Healy, George Serafeim, and Devin Shanthikumar. "The Stock Selection and Performance of Buy-Side Analysts." Management Science 59, no. 5 (May 2013): 1062–1075.
- February 2023
- Article
The Effect of Systems of Management Controls on Honesty in Managerial Reporting
By: Aishwarrya Deore, Susanna Gallani and Ranjani Krishnan
While budgetary controls with capital rationing are optimal in theory and widespread in practice, empirical research documents their association with higher employee dishonesty compared to budgetary controls without rationing. In this study, we examine whether... View Details
Keywords: Directing Controls; Misreporting; Mission Statements; Participative Budgeting; Stewardship Theory; Systems Of Management Controls; Capital; Budgets and Budgeting; Mission and Purpose
Deore, Aishwarrya, Susanna Gallani, and Ranjani Krishnan. "The Effect of Systems of Management Controls on Honesty in Managerial Reporting." Art. 101401. Accounting, Organizations and Society 105 (February 2023).
- 29 Apr 2025
- HBS Seminar
Magie Cheng & David Huang
- 2020
- Working Paper
Do Lenders Still Discriminate? A Robust Approach for Assessing Differences in Menus
By: David Hao Zhang and Paul Willen
We use a new methodology to assess mortgage pricing discrimination by race. We make four main contributions. First, we show that existing estimates of mortgage pricing differences by race can be confounded by a "menu problem," which is the problem associated with... View Details
Keywords: Mortgages; Financing and Loans; Prejudice and Bias; Race; Measurement and Metrics; Banking Industry; United States
Zhang, David Hao, and Paul Willen. "Do Lenders Still Discriminate? A Robust Approach for Assessing Differences in Menus." Working Paper, September 2020.
- February 2016 (Revised August 2020)
- Case
InsightSquared: Developing the Sales and Marketing Plan
Fred Shilmover and Sam Clemens prepared for their fourth quarter board meeting. They were excited to have scaled their software startup, InsightSquared, to $2 million in revenue and secured an $8 million round of venture capital. However, they disagreed on the path... View Details
Keywords: Sales Planning; Applications and Software; Marketing; Sales; Planning; Growth and Development Strategy
Roberge, Mark, Tom Eisenmann, and Frank Cespedes. "InsightSquared: Developing the Sales and Marketing Plan." Harvard Business School Case 816-074, February 2016. (Revised August 2020.)
- 2025
- Working Paper
Home Sweet Home: How Much Do Employees Value Remote Work?
By: Zoë B. Cullen, Bobak Pakzad-Hurson and Ricardo Perez-Truglia
We estimate the value employees place on remote work using revealed preferences in a high-stakes, real-world context, focusing on U.S. tech workers. On average, employees are willing to accept a 25% pay cut for partly or fully remote roles. Our estimates are three to... View Details
Cullen, Zoë B., Bobak Pakzad-Hurson, and Ricardo Perez-Truglia. "Home Sweet Home: How Much Do Employees Value Remote Work?" NBER Working Paper Series, No. 33383, January 2025.
- 2016
- Working Paper
Popular Acceptance of Inequality Due to Innate Brute Luck and Support for Classical Benefit-Based Taxation
U.S. survey respondents' views on distributive justice are shown to differ in two specific, related ways from what is conventionally assumed in modern optimal tax research. A large share of respondents, and in some cases a large majority, resist the full equalization... View Details
Weinzierl, Matthew C. "Popular Acceptance of Inequality Due to Innate Brute Luck and Support for Classical Benefit-Based Taxation." Harvard Business School Working Paper, No. 16-104, March 2016. (Revised July 2016. Also NBER Working Paper Series, No. 22462, July 2016. Also see Notes on Fortune article. Accepted for publication by the Journal of Public Economics.)
- 2013
- Chapter
Behavioral Corporate Finance: A Current Survey
By: Malcolm Baker and Jeffrey Wurgler
We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The... View Details
Keywords: Managerial Roles; Theory; Corporate Finance; Financial Management; Investment; Market Timing; Behavioral Finance; Prejudice and Bias; Economics; Forecasting and Prediction
Baker, Malcolm, and Jeffrey Wurgler. "Behavioral Corporate Finance: A Current Survey." In Handbook of the Economics of Finance, Volume 2A: Corporate Finance, edited by George M. Constantinides, Milton Harris, and Rene M. Stulz, 357–424. Handbooks in Economics. New York: Elsevier, 2013.
Behavioral Corporate Finance: A Survey
In this chapter, we survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to... View Details
- Article
Two-Sided Platforms: Product Variety and Pricing Structures
By: Andrei Hagiu
This paper provides a new modeling framework to analyze two-sided platforms connecting producers and consumers. In contrast to the existing literature, indirect network effects are determined endogenously, through consumers' taste for variety and producer competition.... View Details
Keywords: Pricing Structure; Indirect Network Effects; Product Variety; Price; Network Effects; Two-Sided Platforms; Product; Renting or Rental; Competition
Hagiu, Andrei. "Two-Sided Platforms: Product Variety and Pricing Structures ." Journal of Economics & Management Strategy 18, no. 4 (Winter 2009).
- 16 Jan 2020
- News
5 Ways Office Design Helps Your Company Navigate Change
- November 1976
- Article
Partial Equilibrium Approach to the Free-Rider Problem
By: Jerry R. Green, Elon Kohlberg and Jean-Jacques Laffont
Groves and others have shown that truthful answers concerning preferences for public goods can be elicited as dominant strategies if appropriate tax-subsidies rules are applied. This paper studies the statistical properties of the total revenues generated by one of the... View Details
Keywords: Problems and Challenges
Green, Jerry R., Elon Kohlberg, and Jean-Jacques Laffont. "Partial Equilibrium Approach to the Free-Rider Problem." Journal of Public Economics 6, no. 4 (November 1976): 375–394.
- 2020
- Working Paper
On the Representativeness of Voter Turnout
By: Louis Kaplow and Scott Duke Kominers
Prominent theory research on voting uses models in which expected pivotality drives voters' turnout decisions and hence determines voting outcomes. It is recognized, however, that such work is at odds with Downs's paradox: in practice, many individuals turn out for... View Details
Kaplow, Louis, and Scott Duke Kominers. "On the Representativeness of Voter Turnout." Harvard Business School Working Paper, No. 20-097, March 2020.
- Article
Organizational Beliefs and Managerial Vision
Can managers have an impact on their firm that goes beyond their direct actions and decisions? This article shows that a manager with strong beliefs about the right course of action will attract, through sorting in the labor market, employees with similar beliefs. This... View Details
Keywords: Organizations; Goals and Objectives; Decisions; Labor; Markets; Employees; Motivation and Incentives; Recruitment; Risk and Uncertainty; Values and Beliefs
Van den Steen, Eric J. "Organizational Beliefs and Managerial Vision." Journal of Law, Economics & Organization 21, no. 1 (April 2005): 256–283. (Reprinted in The Economics of Organisation and Bureaucracy, Peter M. Jackson (ed.), Edward Elgar (Cheltenham, UK), 2013.)
- April 2010
- Case
Metabical: Pricing, Packaging, and Demand Forecasting Recommendations for a New Weight Loss Drug
By: John A. Quelch and Heather Beckham
Metabical is a new weight loss drug from Cambridge Sciences Pharmaceuticals intended for moderately overweight individuals. In anticipation of final FDA approval, the senior director of marketing, Barbara Printup, prepares for the product launch and must make several... View Details
Keywords: Return On Investment; Forecasting; Pricing Policies; Demand Planning; Marketing Strategy; Price; Consumer Behavior; Investment Return; Forecasting and Prediction; Product Launch; Planning; Brands and Branding; Pharmaceutical Industry
Quelch, John A., and Heather Beckham. "Metabical: Pricing, Packaging, and Demand Forecasting Recommendations for a New Weight Loss Drug." Harvard Business School Brief Case 104-183, April 2010.
- Article
Representative Democracy and the Implementation of Majority-Preferred Alternatives
In this paper, we contrast direct and representative democracy. In a direct democracy, individuals have the opportunity to vote over the alternatives in every choice problem the population faces. In a representative democracy, the population commits to a candidate ex... View Details
Coffman, Katherine Baldiga. "Representative Democracy and the Implementation of Majority-Preferred Alternatives." Social Choice and Welfare 46, no. 3 (March 2016): 477–494.
- November 2024
- Article
On the Representativeness of Voter Turnout
By: Louis Kaplow and Scott Duke Kominers
Prominent theory research on voting analyzes a variety of models in which expected pivotality drives voters' turnout decisions and hence determines voting outcomes. It is recognized, however, that such work is at odds with Downs's paradox: in practice, many... View Details
Keywords: Voting Behavior; Voting Turnout; Paradox Of Voting; Pivotality; Elections; Model; Theory; Governance Transparency; Government; Democracy; Turnout; Voting; Governance; Government and Politics; Public Sector; Political Elections
Kaplow, Louis, and Scott Duke Kominers. "On the Representativeness of Voter Turnout." Journal of Law & Economics 67, no. 4 (November 2024): 879–904.
- winter 1989
- Article
Split-Awards Procurement and Innovation
By: James J. Anton and Dennis A. Yao
In many procurement settings, it is possible for a buyer to split a production award between suppliers. In this article, we develop a model of split-award procurement auctions in which the split choice is endogenous. We characterize the set of equilibrium bids and... View Details
Keywords: Innovation and Invention; Auctions; Bids and Bidding; Cost; Supply Chain; Investment; Balance and Stability
Anton, James J., and Dennis A. Yao. "Split-Awards Procurement and Innovation." RAND Journal of Economics 20, no. 4 (winter 1989): 538–552. (Harvard users click here for full text.)