Publications
Publications
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(3,348)
- Faculty Publications (419)
- 2024
- Working Paper
Precautionary Debt Capacity
By: Deniz Aydin and Olivia S. Kim
Firms with ample financial slack are unconstrained... or are they? In a field experiment
that randomly expands debt capacity on business credit lines, treated small-and-medium
enterprises (SMEs) draw down 35 cents on the dollar of expanded debt capacity in... View Details
- February 2024
- Case
Can Cities Beat the Heat? (A): A Comparative Analysis of Climate Actions and Change Enablers in 14 U.S. Cities
By: Rosabeth Moss Kanter and Jacob A. Small
Throughout the early 2000's, emphasis was placed on initiatives to adapt to and mitigate climate action in cities. This series presents overviews (snapshots) of 14 U.S. metropolitan regions to help identify similarities, differences, and opportunities for developing... View Details
Keywords: Climate; Climate Impact; Innovation; Mitigation Policies; Carbon Footprint; Investing; Climate Finance; Renewable; Mobility; City; Climate Change; Adaptation; Renewable Energy; Weather; Problems and Challenges; United States; Boston; Detroit; Miami; Minneapolis; St. Paul; Pittsburgh; Seattle; San Jose
- February 2024
- Supplement
Can Cities Beat the Heat? (B14): San Jose Climate Action Snapshot
By: Rosabeth Moss Kanter, Hailey Chen and Jacob A. Small
Climate snapshots provide a summary of climate actions that occurred between 2018 and 2024, highlighting major green initiatives, innovations, carbon mitigation strategy, and action across multiple levels of government and the private sector. Snapshots also provide an... View Details
- February 2024
- Supplement
Can Cities Beat the Heat? (B3): Chattanooga Climate Action Snapshot
By: Rosabeth Moss Kanter, Coelin P. Scibetta and Jacob A. Small
Climate snapshots provide a summary of climate actions that occurred between 2018 and 2024, highlighting major green initiatives, innovations, carbon mitigation strategy, and action across multiple levels of government and the private sector. Snapshots also provide an... View Details
- February 2024
- Supplement
Can Cities Beat the Heat? (B6): Miami Climate Action Snapshot
By: Rosabeth Moss Kanter, Ai-Ling Jamila Malone and Jacob A. Small
Climate snapshots provide a summary of climate actions that occurred between 2018 and 2024, highlighting major green initiatives, innovations, carbon mitigation strategy, and action across multiple levels of government and the private sector. Snapshots also provide an... View Details
- February 2024
- Supplement
Can Cities Beat the Heat? (B7): Milwaukee Climate Action Snapshot
By: Rosabeth Moss Kanter, Coelin P. Scibetta and Jacob A. Small
Climate snapshots provide a summary of climate actions that occurred between 2018 and 2024, highlighting major green initiatives, innovations, carbon mitigation strategy, and action across multiple levels of government and the private sector. Snapshots also provide an... View Details
- February 2024 (Revised April 2024)
- Case
CPP Investments—The Road to Zero
By: Vikram Gandhi and Radhika Kak
In February 2022, Canadian Pension Plan (CPP) Investments, the investment management organization that managed funds for the CPP, one of the biggest pension plans in the world, announced a net-zero commitment for its portfolio by 2050. Under its CEO, John Graham, it... View Details
- January 2024 (Revised May 2024)
- Case
Generation Investment Management: Sustainable Investing in a Warming World
By: Vikram S. Gandhi, Michael Norris and David Allen
In September 2021, the sustainable investment firm Generation Investment Management (Generation) considered whether to add Schneider Electric to the focus list of companies in which it was prepared to invest. Dedicated to promoting a sustainable world through its... View Details
Keywords: Sustainable Investing; Climate Change; Environmental Sustainability; Governance; Private Equity; Public Equity; Financial Markets; Investment Return; Investment Activism; Investment Funds; Investment Portfolio; Institutional Investing; Corporate Social Responsibility and Impact; Financial Services Industry; United Kingdom; England; London
- January 2024 (Revised October 2024)
- Case
DO & CO: Crafting Luxury in the Fast Lane (A)
By: Juan Alcácer, Esel Cekin, Michael Lee and Noah Roberson
In July 2023, Attila Dogudan, the chairman of DO & CO, a renowned international catering firm, found himself in a deep conversation with his two sons about a potential new venture: catering for the Las Vegas Grand Prix, a significant step beyond their 31-year history... View Details
- 2024
- Working Paper
Antitrust Platform Regulation and Entrepreneurship: Evidence from China
By: Ke Rong, D. Daniel Sokol, Di Zhou and Feng Zhu
Many jurisdictions have launched antitrust enforcement and brought in regulation of large tech platforms. The swift and strict implementation of China’s Anti-Monopoly Guidelines for the Platform Economy (Platform Guidelines) provides a quasi-natural experiment... View Details
- January 2024 (Revised February 2024)
- Case
TPG Rise Climate: Deploying 'Climate Capital'
By: Vikram S. Gandhi, David Allen, Sarah Mehta and Shannon Roche
This case is about TPG Rise Climate, a $7.3 billion climate impact fund launched in 2021 by alternative asset manager TPG. Climate investing is a complex, capital-intensive endeavor; entering it has forced TPG to think and act differently. Relative to other funds, Rise... View Details
- January 2024 (Revised May 2024)
- Case
PortageBay and ESG Analytics
By: Vikram S. Gandhi and Radhika Kak
In 2023, sustainable investors faced several challenges. The first was the lack of access to standardized and vetted environmental, social, and governance (ESG) data, and equally, the interpretation of this data into investment-useful insights. Reducing reliance on... View Details
- 2023
- Working Paper
Coordinated R&D Programs and the Creation of New Industries
By: Daniel P. Gross and Maria P. Roche
Complex systems technologies—including “deep tech”—are prone to numerous frictions that stymie commercial development. Yet technologies with these features underpin some of the most valuable industries of the past century. We examine how large, mission-oriented... View Details
- 2023
- Working Paper
Flow-Driven ESG Returns
I show that the recent returns to ESG investing are strongly driven by price impact
from flows towards ESG funds. Using data on institutional trades, I estimate the
market’s ability to accommodate the demand of ESG funds, which is given by the
elasticity of... View Details
- 2023
- Working Paper
The Equity Market Implications of the Retail Investment Boom
By: Philippe van der Beck and Coralie Jaunin
This paper quantifies the impact of Robinhood traders on the US equity market. Within a structural model, we estimate retail and institutional demand curves and derive aggregate pricing implications via market clearing. The inelastic nature of institutional demand... View Details
- 2024
- Working Paper
What Do Impact Investors Do Differently?
In recent years, impact investors – private investors who seek to generate simultaneously financial and social returns – have attracted intense interest and controversy. We analyze a novel, comprehensive data set of impact and traditional investors to assess how the... View Details
- October 2023 (Revised January 2025)
- Case
Ӧzyeğin Social Investments: A Legacy of Giving
By: Christina R. Wing, Zeshan Gondal and Brittany L. Logan
This case explores the work of Özyeğin Social Investments, founded by Hüsnü Özyeğin, one of Turkey's most successful entrepreneurs. With a focus on education, health, gender equality, rural development, and disaster relief in Turkey, Özyeğin Social Investments and the... View Details
- October 2023
- Case
Driving Sustainability at AB InBev
By: Ethan Rouen and Antonio Manuel Oftelie
It was the height of the summer in 2022, and Michel Doukeris, the CEO of Anheuser-Busch InBev (AB InBev), and Peter Kraemer, the company’s Chief Supply Officer, gazed across the vast desert surrounding Zacatecas, Mexico. They were visiting their Grupo Modelo Brewery,... View Details
- October 2023 (Revised May 2024)
- Case
JSW Steel: Balancing Growth While Decarbonizing
By: Vikram S Gandhi and Radhika Kak
Sajjan Jindal, Chairman & Managing Director of JSW Steel, India's largest steel producer by market capitalization, was facing a dilemma. Steel demand in India was expected to grow exponentially over the next decade. However, given its traditional reliance on carbon,... View Details
- September 2023
- Teaching Note
Patagonia: 'Earth Is Now Our Only Shareholder'
By: Brian Trelstad, Nien-hê Hsieh, Michael Norris and Susan Pinckney
Teaching Note for HBS Case No. 323-057. Patagonia’s change of ownership from a privately held company to a perpetual purpose trust and 501(c)(4) nonprofit in order to use the company’s profit to fight the environmental crisis and be a model for future businesses. View Details
Keywords: Trusts; Business Ventures; Business Organization; Family Business; Restructuring; Change; Disruption; Transition; Decision Making; Ethics; Values and Beliefs; Finance; Financial Management; Governance; Corporate Governance; Investment Activism; Innovation Leadership; Labor; Law; Common Law; Management; Goals and Objectives; Organizations; Corporate Social Responsibility and Impact; Organizational Change and Adaptation; Organizational Culture; Ownership; Ownership Type; Family Ownership; Private Ownership; Social Enterprise; Nonprofit Organizations; Society; Social Issues; Wealth and Poverty; Value; Value Creation; Apparel and Accessories Industry; United States