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(3,439)
- Faculty Publications (910)
- 2007
- Working Paper
Facts and Fallacies about U.S. FDI in China
By: Lee Branstetter and C. Fritz Foley
Despite the rapid expansion of U.S.-China trade ties, the increase in U.S. FDI in China, and the expanding amount of economic research exploring these developments, a number of misconceptions distort the popular understanding of U.S. multinationals in China. In this... View Details
Keywords: Macroeconomics; Trade; Foreign Direct Investment; Multinational Firms and Management; Expansion; China; United States
Branstetter, Lee, and C. Fritz Foley. "Facts and Fallacies about U.S. FDI in China." NBER Working Paper Series, No. 13470, October 2007.
- October 2007
- Article
The Effectiveness of Pre-Release Advertising for Motion Pictures: An Empirical Investigation Using a Simulated Market
By: Anita Elberse and Bharat N. Anand
One of the most visible and publicized trends in the movie industry is the escalation in movie advertising expenditures over time. Yet, the returns to movie advertising are poorly understood. The main reason is that disentangling the causal effect of advertising on... View Details
Keywords: Advertising; Stocks; Investment Return; Price; Revenue; Quality; Mathematical Methods; Motion Pictures and Video Industry
Elberse, Anita, and Bharat N. Anand. "The Effectiveness of Pre-Release Advertising for Motion Pictures: An Empirical Investigation Using a Simulated Market." Information Economics and Policy 19, nos. 3-4 (October 2007): 319–343. (Special Issue on Economics of the Media.)
- October 2007
- Article
The Power of Stars: Do Star Actors Drive the Success of Movies?
By: Anita Elberse
Is the involvement of star actors critical to the success of motion pictures? Film studios, which they regularly pay multimillion-dollar fees to star actors, seem driven by that belief. I shed light on the returns on this investment using an event study that considers... View Details
Keywords: Talent and Talent Management; Film Entertainment; Investment Return; Revenue; Compensation and Benefits; Resource Allocation; Success; Motion Pictures and Video Industry
Elberse, Anita. "The Power of Stars: Do Star Actors Drive the Success of Movies?" Journal of Marketing 71, no. 4 (October 2007): 102–120. (Featured in HBS Working Knowledge.)
- 2007
- Working Paper
Digital Interactivity: Unanticipated Consequences for Markets, Marketing, and Consumers
By: John A. Deighton and Leora Kornfeld
The digital interactive transformation in marketing is not unfolding, as many thought it would, on the model of direct marketing. That model anticipated that digital media using rich profiling data would intrude marketing messaging more deeply and more precisely into... View Details
Keywords: Communication Intention and Meaning; Interactive Communication; Marketing Communications; Consumer Behavior; Social and Collaborative Networks; Internet and the Web
Deighton, John A., and Leora Kornfeld. "Digital Interactivity: Unanticipated Consequences for Markets, Marketing, and Consumers." Harvard Business School Working Paper, No. 08-017, September 2007.
- September – October 2007
- Article
Trading Patterns and Excess Comovement of Stock Returns
By: Robin Greenwood and Nathan Sosner
n April 2000, 30 stocks were replaced in the Nikkei 225 Index. The unusually broad index redefinition allowed for a study of the effects of index-linked trading on the excess comovement of stock returns. A large increase occurred in the correlation of trading volume of... View Details
Greenwood, Robin, and Nathan Sosner. "Trading Patterns and Excess Comovement of Stock Returns." Financial Analysts Journal 63, no. 5 (September–October 2007): 69–81.
- July 2007 (Revised May 2008)
- Case
Cable & Wireless America
By: Guhan Subramanian and Eliot Sherman
Describes the auction of Cable & Wireless America (CWA), a bankrupt subsidiary of the British telecommunications company Cable & Wireless. While an initial "stalking-horse" bid valued the assets at $125 million, after a long day and night of bidding between eight... View Details
Keywords: Mergers and Acquisitions; Insolvency and Bankruptcy; Auctions; Bids and Bidding; Negotiation Process
Subramanian, Guhan, and Eliot Sherman. "Cable & Wireless America." Harvard Business School Case 908-004, July 2007. (Revised May 2008.)
- 2007
- Working Paper
Investor Sentiment in the Stock Market
By: Malcolm Baker and Jeffrey Wurgler
Real investors and markets are too complicated to be neatly summarized by a few selected biases and trading frictions. The "top down" approach to behavioral finance focuses on the measurement of reduced form, aggregate sentiment and traces its effects to stock returns.... View Details
- May 2007 (Revised April 2020)
- Case
Ernesto Tornquist: Making a Fortune on the Pampas
By: Geoffrey Jones and Andrea Lluch
Examines the career of Ernesto Tornquist, a cosmopolitan financier considered to be the most significant entrepreneur in Argentina at the end of the 19th century. Tornquist created a diversified business group, linked to the political elite, which integrated Argentina... View Details
Keywords: Business History; Development Economics; Partners and Partnerships; Personal Development and Career; Entrepreneurship; Financing and Loans; Trade; Globalized Markets and Industries; Economy; Performance; Argentina
Jones, Geoffrey, and Andrea Lluch. "Ernesto Tornquist: Making a Fortune on the Pampas." Harvard Business School Case 807-155, May 2007. (Revised April 2020.)
- 2007
- Working Paper
The Price of Capital: Evidence from Trade Data
By: Laura Alfaro and Faisal Ahmed
We use highly disaggregated data on trade in capital goods to study differences in the price of capital across countries. This strategy is motivated by the fact that most countries import the bulk of machinery equipment from a small number of industrialized countries.... View Details
Alfaro, Laura, and Faisal Ahmed. "The Price of Capital: Evidence from Trade Data." Harvard Business School Working Paper, No. 07-073, April 2007. (Revised March 2010.)
- March 2007 (Revised May 2012)
- Case
PRG-Schultz International
By: Paul W. Marshall and James Weber
PRG-Schultz will run out of cash within a couple of months unless the new CEO can reduce costs and restructure the company's debt. PRG was the dominant market leader in the audit recovery industry. The industry consisted of firms which employed accounting professionals... View Details
Keywords: History; Organizational Change and Adaptation; Leadership; Restructuring; Cost Management; Insolvency and Bankruptcy; Borrowing and Debt; Accounting Audits; Accounting Industry
Marshall, Paul W., and James Weber. "PRG-Schultz International." Harvard Business School Case 807-126, March 2007. (Revised May 2012.)
- 2007
- Report
Competitiveness Index: Where America Stands
Competitiveness Index: Where America Stands benchmarks current U.S. competitiveness against twenty years of domestic and global economic data. The baseline year, 1986, was chosen because it marked the beginning of cyclical expansion in the domestic economy, a high... View Details
Porter, Michael E. "Competitiveness Index: Where America Stands." Report Series, Council on Competitiveness, January 2007.
- 2007
- Working Paper
Retail Market Structure and Dynamics: A Three Country Comparison of Japan, the U.K. and the U.S.
By: Jonathan Haskel, Ron S. Jarmin, Kazuyuki Motohashi and Raffaella Sadun
This paper compares structure and dynamics of the Retail Trade Sectors in Japan, the U.K. and the U.S. This is done using confidential establishment and firm level data for each country. By using micro data we are able to perform much more detailed comparisons than... View Details
Keywords: Industry Structures; Market Entry and Exit; Jobs and Positions; Size; Performance Productivity; Japan; United Kingdom; United States
Haskel, Jonathan, Ron S. Jarmin, Kazuyuki Motohashi, and Raffaella Sadun. "Retail Market Structure and Dynamics: A Three Country Comparison of Japan, the U.K. and the U.S." LSE/Ceriba Mimeo, January 2007. (Slides.)
- December 2006 (Revised January 2007)
- Case
Restructuring Navigator Gas Transport Plc
By: C. Fritz Foley
How should creditors pursue their claims in a multi-jurisdiction bankruptcy? David Butters, Managing Director at Lehman Brothers, negotiates a restructuring of Navigator Gas Transport, a shipping company that is headquartered in Switzerland, incorporated in the Isle of... View Details
Keywords: Management Teams; Insolvency and Bankruptcy; Complexity; Capital Structure; Restructuring; International Finance; Law; Ship Transportation; Shipping Industry; Switzerland; Isle of Man
Foley, C. Fritz. "Restructuring Navigator Gas Transport Plc." Harvard Business School Case 207-092, December 2006. (Revised January 2007.)
- December 2006 (Revised March 2007)
- Case
Common Agricultural Policy and the Future of French Farming
By: J. Gunnar Trumbull, Vincent Marie Dessain and Elena Corsi
Presents the history and evolution of the EU Common Agricultural Policy, from early price supports to the 2003 decision to "decouple" payments to European farmers. Explores the logic behind agricultural supports, with a focus on the economic, political, and cultural... View Details
Keywords: History; Agreements and Arrangements; Price; Policy; Trade; Agribusiness; Agriculture and Agribusiness Industry; France; European Union
Trumbull, J. Gunnar, Vincent Marie Dessain, and Elena Corsi. "Common Agricultural Policy and the Future of French Farming." Harvard Business School Case 707-027, December 2006. (Revised March 2007.)
- July 2006 (Revised March 2008)
- Case
Changan Automobile Co., Ltd.
By: Dennis Campbell and Donglin Xia
Chairman Yin Jiaxu must communicate that the company's extraordinary reported performance in 2002 reflects Changan's unique strategy within the competitive dynamics of China's automobile industry. Changan's 2002 annual report demonstrated an extraordinary level of... View Details
Keywords: Financial Reporting; Ethics; Corporate Disclosure; Media; Business and Shareholder Relations; Auto Industry; China
Campbell, Dennis, and Donglin Xia. "Changan Automobile Co., Ltd." Harvard Business School Case 107-006, July 2006. (Revised March 2008.)
- July 2006
- Case
Citigroup: Euro Zone Bond Trading (A)
By: Lynn S. Paine, Christopher Bruner and Aldo Sesia
Describes the development and execution of a bond trading strategy by a London-based team of Citigroup eurozone bond traders. The trades, which involved two of Europe's leading electronic trading platforms, gave rise to a European-wide controversy over the traders'... View Details
- June 2006 (Revised April 2007)
- Case
Nephila: Innovation in Catastrophe Risk Insurance
By: Kenneth A. Froot and Michael Heinrich
At the cross-section of capital markets and the catastrophe insurance space stands the hedge fund Nephila. Nephila must decide how best to take advantage of the newly presented market opportunities post hurricanes Katrina, Wilma, and Rita. Nephila has a plethora of... View Details
Keywords: Hedge Fund; Investment Management; Uncertainty; Risk and Uncertainty; Natural Disasters; Insurance; Capital Markets; Investment Funds; Financial Services Industry; Insurance Industry; Bermuda
Froot, Kenneth A., and Michael Heinrich. "Nephila: Innovation in Catastrophe Risk Insurance." Harvard Business School Case 206-130, June 2006. (Revised April 2007.)
- April 2006 (Revised March 2007)
- Case
Drexel Burnham Lambert (A): "The Smartest People on Wall Street Can be Had"
By: Boris Groysberg, Anahita Hashemi and Brendan Reed
In February 1990, Drexel Burnham Lambert declared bankruptcy amid a slew of scandals. Equities chief Arthur Kirsch hoped to keep his high-performing 600-person team intact. Could he find a company that would take on such a massive group hire? Competitors were already... View Details
Keywords: Decision Making; Decision Choices and Conditions; Insolvency and Bankruptcy; Selection and Staffing; Leadership; Negotiation; Groups and Teams; Power and Influence; Society
Groysberg, Boris, Anahita Hashemi, and Brendan Reed. Drexel Burnham Lambert (A): "The Smartest People on Wall Street Can be Had". Harvard Business School Case 406-107, April 2006. (Revised March 2007.)
- spring 2006
- Article
All's Fair in Love, War, & Bankruptcy: Corporate Governance Implications of CEO Turnover in Financial Distress
Prior discussions of management turnover during financial distress have examined bankrupt and non-bankrupt firms as distinct groupings with little overlap. Separately investigating rates of turnover in-bankruptcy and out-of-bankruptcy, without a direct comparison... View Details
Keywords: CEO Turnover; Bankruptcy; Restructuring; Shadow Of Bankruptcy; Borrowing and Debt; Credit; Financing and Loans; Corporate Governance; Finance; Theory; Markets; United States
Bernstein, Ethan S. "All's Fair in Love, War, & Bankruptcy: Corporate Governance Implications of CEO Turnover in Financial Distress." Stanford Journal of Law, Business & Finance 11, no. 2 (spring 2006): 299–325.
- March 2006 (Revised November 2010)
- Background Note
Protecting Foreign Investors
Describes the emergence of several kinds of efforts to assure the safety of foreign investment in emerging markets: international arbitration, expanded official political risk insurance, credit from government agencies, and intervention by investors' home governments.... View Details
Keywords: Foreign Direct Investment; Risk Management; Emerging Markets; Agreements and Arrangements; Business and Government Relations; Safety
Wells, Louis T., Jr. "Protecting Foreign Investors." Harvard Business School Background Note 706-044, March 2006. (Revised November 2010.)