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  • 25 Jun 2019
  • News

The Finance 202: Proposals to tax the wealthy are gaining steam. That could help some 2020 Democrats.

  • February 2020
  • Case

Klöckner & Co: Steeling for a Digital World

By: Scott Duke Kominers and Carin-Isabel Knoop
Hoping to get ahead of potential digital disruption at Klöckner & Co.—one of the world’s largest steel and metal distributors—CEO Gisbert Rühl set up both kloeckner.i (KCI), an internal transformation arm, and XOM Materials (XOM), an independent industry platform. KCI... View Details
Keywords: Corporate Entrepreneurship; Market Design; Digital Platforms; Markets; Industry Structures; Supply and Industry; Technology Adoption; Transformation; Digital Transformation; Steel Industry; Information Technology Industry; Europe; Germany
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  • 2015
  • Working Paper

Service Quality, Inventory and Competition: An Empirical Analysis of Mobile Money Agents in Africa

By: Karthik Balasubramanian and David F. Drake
The use of electronic money transfer through cellular networks ("mobile money") is rapidly increasing in the developing world. The resulting electronic currency ecosystem could improve the lives of the estimated 2 billion people who live on less than $2 a day by... View Details
Keywords: Operations Strategy; Base Of The Pyramid; Mobile Money; Inventory Management; Competition; Currency; Service Operations; Mobile and Wireless Technology
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  • 03 Nov 2022
  • Op-Ed

Feeling Separation Anxiety at Your Startup? 5 Tips to Soothe These Growing Pains

don’t know. Maybe we should talk to a couple more prospects and compare reactions?” Full Stack Engineer: “Just so y’all know, I am probably going to revamp the pricing page layout in the next few days so if you’re thinking about changing... View Details
Keywords: by Julia Austin
  • May 2009
  • Article

Synchronicity and Firm Interlocks in an Emerging Market

By: Tarun Khanna and Catherine Thomas
Stock price synchronicity has been attributed to poor corporate governance and a lack of firm-level transparency. This paper investigates the association between different kinds of firm interlocks, control groups, and synchronicity in Chile. A unique data set... View Details
Keywords: Stocks; Price; Corporate Governance; Governance Controls; Governing and Advisory Boards; Resource Allocation; Emerging Markets; Ownership Stake; Chile
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  • 17 Nov 2015
  • First Look

November 17, 2015

dollar or one quarter. The practice of making offers at round price-per-share levels is associated with the following unfavorable outcomes for the bidder: (1) higher purchase price for target shares, (2) lower probability to complete the... View Details
Keywords: Sean Silverthorne
  • July 2016
  • Article

The Capital Market Consequences of Language Barriers in the Conference Calls of Non-U.S. Firms

By: Francois Brochet, Patricia L. Naranjo and Gwen Yu
We examine how language barriers affect the capital market reaction to information disclosures. Using transcripts from the English-language conference calls of non-U.S. firms, we find that the calls of firms in countries with greater language barriers are more likely... View Details
Keywords: Voluntary Disclosure; Capital Market Consequences; Non-plain English; Spoken Communication; Complexity; Capital Markets; Cross-Cultural and Cross-Border Issues
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  • 2022
  • Working Paper

Why Do Index Funds Have Market Power? Quantifying Frictions in the Index Fund Market

By: Zach Y. Brown, Mark Egan, Jihye Jeon, Chuqing Jin and Alex A. Wu
Index funds are one of the most common ways investors access financial markets and are perceived to be a transparent and low-cost alternative to active investment management. Despite these purported virtues of index fund investing and the introduction of new products... View Details
Keywords: Mutual Funds; Passive Investing; Asset Management; Financial Markets; Investment Funds; Financial Management; Financial Services Industry; United States
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  • 2020
  • Working Paper

Cutting the Gordian Knot of Employee Health Care Benefits and Costs: A Corporate Model Built on Employee Choice

By: Regina E. Herzlinger and Barak D. Richman
The U.S. employer-based health insurance tax exclusion created a system of employer-sponsored insurance (ESI) with limited insurance choices and transparency that may lock employed households into health plans that are costlier or different from those they prefer to... View Details
Keywords: After-tax Income; Consumer-driven Health Care; Health Care Costs; Health Insurance; Income Inequality; Tax Policy; Health Care and Treatment; Cost; Insurance; Employees; Income; Taxation; Policy; United States
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  • 11 Sep 2018
  • First Look

New Research and Ideas, September 11, 2018

Conference Proceedings More Amazon Effects: Online Competition and Pricing Behaviors By: Cavallo, Alberto Abstract—I study how online competition, with its shrinking margins, algorithmic pricing... View Details
Keywords: Dina Gerdeman
  • August 2019 (Revised April 2021)
  • Case

Zillow Offers: Winning Online Real Estate 2.0

By: Luis Viceira, Marco Di Maggio and Allison Ciechanover
Founded in 2005, Zillow had become the leading online real estate and home-related marketplace. The brand was recognized as a trusted resource for players in the real estate market, providing information and transparency on home prices. Revenue, which was historically... View Details
Keywords: Real Estate; Corporate Culture; Intermediation; Brokerage; Startup; Evaluating Business Investments; Property; Information Technology; Business Model; Expansion; Business Startups; Real Estate Industry; Media and Broadcasting Industry; United States
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  • 05 Apr 2017
  • Research & Ideas

For Women Especially, It Pays to Know What Car Repairs Should Cost

Women who come prepared to challenge an auto repair quote can overcome gender discrimination and negotiate a fairer price, according to recently published research. That's one conclusion from the research study Repairing the Damage: The Effect of View Details
Keywords: by Wendy Guild Swearingen; Auto; Service
  • January 2010 (Revised October 2011)
  • Case

The Congressional Oversight Panel's Valuation of the TARP Warrants (A)

By: Carliss Y. Baldwin
The Congressional Oversight Panel wants to value the warrants issued to the government in connection with the TARP investments of 2008, in order to increase the transparency of options repurchases. The case describes the methodology used to value the warrants. Students... View Details
Keywords: Financial Crisis; Asset Pricing; Financial Instruments; Investment; Business and Government Relations; Mathematical Methods; Valuation; Banking Industry; Public Administration Industry; United States
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  • 20 Jan 2015
  • First Look

First Look: January 20

Costing to Identify Value-Improvement Opportunities in Healthcare By: Kaplan, Robert S., Mary L. Witkowski, Megan Abbott, Alexis Guzman, Laurence Higgins, John Meara, Erin Padden Abstract—As healthcare providers cope with pricing... View Details
Keywords: Sean Silverthorne
  • 02 Jan 2020
  • Op-Ed

Medicare for All or Public Option: Can Either Heal Health Care?

people from 2016 to 2019. And while the hospital price transparency that Republicans espouse is much needed, recalcitrant hospitals will snarl this idea in legislation. Americans generally like private... View Details
Keywords: by Regina E. Herzlinger and James Wallace; Health; Public Administration
  • 06 Mar 2018
  • First Look

First Look at Research and Ideas, March 6, 2018

versus Posted Prices in Online Markets By: Einav, Liran, Chiara Farronato, Jonathan Levin, and Neel Sundaresan Abstract—Auctions were very popular in the early days of internet commerce, but today online sellers mostly use posted prices.... View Details
Keywords: Sean Silverthorne
  • November 2009
  • Article

Is it Fair to Blame Fair Value Accounting for the Financial Crisis?

By: Robert C. Pozen
When the credit markets seized up in 2008, many heaped blame on "mark to market" accounting rules, which require banks to write down their troubled assets to the prices they'd fetch if sold on the open market - at the time, next to nothing. Recording those assets below... View Details
Keywords: Cost Accounting; Fair Value Accounting; Financial Crisis; Assets; Governing Rules, Regulations, and Reforms; Crisis Management; Standards; Banking Industry
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  • 28 Jul 2015
  • First Look

First Look: July 28, 2015

By: Marquis, Christopher, Michael W. Toffel, and Yanhua Zhou Abstract—Under increased pressure to report environmental impacts, some firms selectively disclose relatively benign impacts, creating an impression of transparency while... View Details
Keywords: Carmen Nobel
  • 10 Jul 2018
  • First Look

New Research and Ideas, July 10, 2018

Teixeira Abstract—Online retail accounts for a rapidly growing proportion of revenues in many industries. While selling online broadens firms’ access to consumers, operating margins are often lower in online stores than in physical stores. There are well-recognized... View Details
Keywords: Dina Gerdeman
  • 20 Dec 2004
  • Research & Ideas

The U.S. Patent Game: How to Change It

subtle shifts in abstract judicial doctrine will affect the amount they pay for new products. Even CEOs are not apt to give these arcane issues the same kind of attention as something like tax policy, which affects a corporation's bottom line in a direct and View Details
Keywords: by Ann Cullen