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- January 2025
- Case
A Tiger in the Tank: Exxon Sues Investors
By: Clayton S. Rose, Sarah Sasso and James Weber
In June 2024, investors were trying to make sense of ExxonMobil’s (Exxon) lawsuit against two impact investors, Arjuna Capital (Arjuna) and Follow This, that had just been dismissed by the U.S. District Court of Northern Texas. Exxon’s suit challenged the rights of two... View Details
Keywords: Disruption; Talent and Talent Management; Customer Satisfaction; Decision Making; Demographics; Ethics; Corporate Accountability; Employees; Recruitment; Retention; Leadership; Crisis Management; Risk Management; Corporate Social Responsibility and Impact; Mission and Purpose; Organizational Change and Adaptation; Civil Society or Community; Social Issues; Adaptation; Investment Activism; Lawsuits and Litigation; Business and Shareholder Relations; Medical Devices and Supplies Industry; Health Industry; Energy Industry; United States; Netherlands; Norway
- January 2025
- Case
Shifting Winds: DEI in Corporate America
By: Clayton S. Rose, Maisie Wiltshire-Gordon and David Lane
In the 2020s, intense and conflicting social and political pressures challenged organizational leaders around the world. Prominent among these were powerful competing views on workplace diversity, equity, and inclusion programs (DEI) in the United States. Public... View Details
Keywords: Disruption; Leadership; Crisis Management; Risk Management; Corporate Social Responsibility and Impact; Mission and Purpose; Organizational Change and Adaptation; Organizational Culture; Civil Society or Community; Social Issues; Talent and Talent Management; Customer Satisfaction; Diversity; Ethics; Corporate Accountability; Employees; Retention; Recruitment; Adaptation; Programs; Consulting Industry; Auto Industry; Agriculture and Agribusiness Industry; Consumer Products Industry; Motorcycle Industry; Technology Industry; Education Industry; United States; Massachusetts; Maryland; Tennessee; District of Columbia
- January 2025 (Revised April 2025)
- Case
Food for Thought: Exiting Russia? (A)
By: Clayton S. Rose, Hugo Etchegoyhen and Lena Duchene
In September 2022, the French food companies Bonduelle and Danone each grappled with the difficult decision of whether to exit Russia following its invasion of Ukraine in February. Both companies were deeply embedded in Russia’s agricultural supply chains and local... View Details
- January 2025
- Case
Apax Partners: Deciding Whether to Bid for Trader Corp.
By: Benjamin C. Esty and Edward A. Meyer
Apax Partners’ investment committee was schedule to meet on March 21, 2011, to decide whether to invest in Trader Corporation, a Canadian classified advertising business for used automobiles with both print (magazines) and digital (website) distribution. What made this... View Details
Keywords: Value Creation; Network Effects; Private Equity; Growth Management; Digital Marketing; Business Strategy; Competitive Advantage; E-commerce; Valuation; Competition; Digital Platforms; Digital Strategy; Digital Transformation; Transition; Investment; Risk and Uncertainty; Advertising Industry; Auto Industry; Information Industry; Canada; United Kingdom; New York (state, US); New York (city, NY)
- January 2025
- Case
Cyber Oversight: SolarWinds Board of Directors
By: Lynn S. Paine
In 2020, just two years after its IPO, information technology company SolarWinds discovered that it was the victim of an attack on its information systems by Russian hackers. The incident, known as the Sunburst attack, was costly for the company, and certain... View Details
- January 2025
- Case
A Winning Strategy (A): Innovation in Olympic Speed Skating
By: Rebecca Karp, Maria Roche, Maisie Wiltshire-Gordon and Tom Quinn
This case describes two innovators in the Olympic sport of speed skating: the U.S. Men’s team, which devised a new approach to the team pursuit event following their disappointing performance in the 2018 Winter Olympics; and Nils van der Poel, a Swedish skater who... View Details
- December 2024
- Supplement
Northvolt: Building Batteries to Fight Climate Change (B)
The (B) case explores Northvolt’s Chapter 11 bankruptcy filing on November 21, 2024, highlighting the company’s
struggles to scale operations amid a global EV market slowdown and internal production challenges. While the (A) case detailed
Northvolt’s ambitious... View Details
Keywords: Batteries; Electric Vehicles; Climate Change; Corporate Social Responsibility and Impact; Energy; Green Technology; Insolvency and Bankruptcy; Investment; Technological Innovation; Risk Management; Failure; Business and Government Relations; Business and Shareholder Relations; Transportation; Green Technology Industry; Europe; Sweden
- December 2024
- Supplement
Core Innovation Capital: Investing in Fintech for Good (B)
In 2017, Core Innovation Capital invested $725,000 in Hugo Insurance, a pay-as-you-drive auto insurance startup targeting the non-standard market. Core followed with $300,000 in 2019 during a Seed II round. By 2022, Hugo founder, David Bergendahl, sought $10 million in... View Details
- 2024
- Working Paper
Climate Solutions, Transition Risk, and Stock Returns
By: Shirley Lu, Edward J. Riedl, Simon Xu and George Serafeim
Using large language models to measure firms' climate solution products and services, we find that high-climate solution firms exhibit lower stock returns and higher market valuation multiples. Their stock prices respond positively to events signaling increased demand... View Details
- 2024
- Working Paper
Hidden Risk
By: Daniel Barth, Phillip Monin, Emil Siriwardane and Adi Sunderam
Since 2013, large U.S. hedge fund advisers have been required to report risk exposures in their regulatory filings. Using these data, we first establish that managers’ perceptions of risk contain useful information that is not embedded in fund returns. Investor flows... View Details
- November 2024 (Revised December 2024)
- Case
Moonfare and the Democratization of Private Equity
By: Victoria Ivashina and Srimayi Mylavarapu
Founded in 2016, Moonfare headquartered in Europe, was a pioneer in the “democratization” of private equity investments. Historically, private equity was accessible only to institutional investors like pension funds, endowments, sovereign wealth funds, and large family... View Details
- November 2024 (Revised March 2025)
- Case
Tim Ferriss: What Might This Look like If It Were Easy?
By: Reza Satchu and Denise Koller
In April 2024, writer-podcaster Tim Ferriss—celebrated as the “Oprah of audio” for his billion-download show and known for NYT-bestsellers like The 4-Hour Workweek—found himself at a crossroads. Despite generating a multi-million-dollar annual revenue with just three... View Details
- 2024
- Article
Supply and Demand and the Term Structure of Interest Rates
By: Robin Greenwood, Samuel Hanson and Dimitri Vayanos
We survey the growing literature emphasizing the role that supply-and-demand forces play in shaping the term structure of interest rates. Our starting point is the Vayanos and Vila (2009, 2021) model of the term structure of default-free bond yields, which we present... View Details
- 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
- 2024
- Working Paper
How Do Global Portfolio Investors Hedge Currency Risk?
By: Robin Greenwood and Alex Cheema-Fox
We use monthly portfolio data from one of the world’s largest custodian banks, with over $40 trillion assets under custody, to study how global portfolio investors hedge foreign exchange risk in their equity and fixed income portfolios over the past 25 years. The data... View Details
- October 2024
- Teaching Plan
Teamworks: Tackling a Forecasting Fumble
By: Lou Shipley and Stacy Straaberg
In late March 2018, Teamworks CEO Zach Maurides learned Q1 2018 sales were at risk for a large forecasting miss. Founded in 2004, Teamworks’s software application assisted support staff in messaging, scheduling, and sharing documents with collegiate and professional... View Details
Keywords: Acquisition; Business Growth and Maturation; Communication Strategy; Decisions; Forecasting and Prediction; Business Cycles; Technological Innovation; Sports; Growth and Development Strategy; Resource Allocation; Marketing; Sales; Business Strategy; Expansion; Sports Industry; Technology Industry; United States; North Carolina
- October 2024
- Case
Parexel: Scaling Up and Industry Dynamics
By: Regina E. Herzlinger and Ben Creo
Through the lens of biopharmaceutical contract research organization (CRO) PAREXEL, this case traces the evolution of the firm as it reinvents itself in response to the transformation of the CRO sector from a small, secondary cluster of firms into a major player with... View Details
- October 2024 (Revised November 2024)
- Case
SWEN Blue Ocean: Impact Investing Goes to Sea
By: Vikram S Gandhi and David Allen
In August 2023, SWEN Blue Ocean, a €170 million impact fund that invested in startups contributing to ocean sustainability, faced a critical investment decision. Part of SWEN Capital Partners, an €8 billion, Paris-based private equity fund, Blue Ocean was co-founded in... View Details
- October 2024 (Revised January 2025)
- Case
Citizens of the World: The International Legacy of Gloria von Thurn und Taxis
By: Lauren Cohen, Maximilian Form and Sophia Pan
When her husband passed away and inheritance taxes struck, Princess Gloria von Thurn und Taxis took decisive action to preserve her family’s fortune and legacy. The Thurn und Taxis family, one of Europe’s oldest aristocratic dynasties, had built their wealth through... View Details
- 2025
- Working Paper
Lessons from an App Update at Replika AI: Identity Discontinuity in Human-AI Relationships
By: Julian De Freitas, Noah Castelo, Ahmet Kaan Uğuralp and Zeliha Oğuz-Uğuralp
As consumers increasingly interact with AI applications specialized for social relationships, what
is the nature and depth of these relationships among actual users, and can company actions
influence these dynamics? We find that active users of the US-based AI... View Details