Publications

Educators

September–October 2013
Article

The Role of Organizational Scope and Governance in Strengthening Private Monitoring

By: Lamar Pierce and Michael W. Toffel

Governments and other organizations often outsource activities to achieve cost savings from market competition. Yet such benefits are often accompanied by poor quality resulting from moral hazard, which can be particularly onerous when outsourcing the monitoring and... View Details

September 2022 (Revised December 2022)
Case

QED Invests in Africa

By: Álvaro Rodríguez Arregui and James Barnett

In March 2022, investors at venture capital firm QED consider strategy for establishing business in Africa. View Details

Keywords: Analysis; Investment; Geography; Markets; Operations; Strategic Planning; Strategy; Financial Services Industry; Africa; Nigeria; North America; Canada; Europe; Asia; Latin America

Educators

2007
Book

An Experiment in Fair Value Accounting? The State of the Art in Research and Thought Leadership on Accounting for Life Assurance in the UK and Continental Europe

By: Joanne G Horton, Richard H. Macve and George Serafeim

"Fair value" is currently the central topic of debate in the development of accounting standards. While it has now been defined to mean an exit price in US GAAP, the IASB is still considering its own definition, and some commentators are arguing for versions of entry... View Details

Keywords: Transition; Financial Instruments; Framework; Market Entry and Exit; Insurance; Revenue Recognition; Fair Value Accounting; Standards; United Kingdom

2015
Government Testimony

Price Coherence in Online Platforms — Impact and Responses

By: Benjamin Edelman and Julian Wright

We examine the role of price coherence in shaping market structure and offer policy recommendations to advance both efficiency and equity. View Details

Keywords: Price Coherence; Price Parity; MFN; Distribution Channels; Market Design; Financial Services Industry; Financial Services Industry

09 Jan 2020
Blog Post

Navigating Grey in the Ever-Evolving Tech Community

for YouTube creators and advertisers. I really, really loved that job but I eventually hit a place where I wanted to be more involved in some of the higher level strategic decision-making (i.e. the kind that... View Details

09 Mar 2022
Research & Ideas

War in Ukraine: Soaring Gas Prices and the Return of Stagflation?

geopolitics of the moment. The interesting thing about the energy sector is that it is always and everywhere inherently geopolitical, even when the decision-making by firms is utterly commercial in its... View Details

Keywords: by Avery Forman; Energy

Web

HBS - The year in Review

2023 Annual Report From The Dean Key Metrics Financials PDF Downloads The Year in Review Notable progress was made during FY23 in advancing the School’s priorities.... View Details

Web

HBS - The year in Review

2022 Annual Report From The Dean Key Metrics Financials PDF Downloads The Year in Review After a tumultuous two years of figuring out how to adapt and thrive in the face of... View Details

05 Jul 2006
Working Paper Summaries

The Motion Picture Industry: Critical Issues in Practice, Current Research & New Research Directions

Keywords: by Jehoshua Eliashberg, Anita Elberse & Mark A. A. M. Leenders; Entertainment & Recreation; Motion Pictures & Video; Advertising

08 Aug 2018
Blog Post

Hands-on Experience in Hospitality

During my time in Barcelona, I was able to see the operations of the hotels, understand the financial model of the hospitality industry, get to know their marketing strategies... View Details

Keywords: Hospitality

June 2008
Article

'Thar' She Blows: Can Bubbles Be Rekindled with Experienced Subjects?

By: Reshmaan Hussam, David Porter and Vernon Smith

We report 28 new experiment sessions consisting of up to three experience levels to examine the robustness of learning and “error” elimination among participants in a laboratory asset market and its effect on price bubbles. Our answer to the title question is: “yes.”... View Details

Keywords: Experimental Economics; Asset Markets; Bubbles; Price Bubble; Financial Markets

2011
Case

Xinxing Ductile Iron Pipes: Transforming the Management Control System in Time of Crisis

By: Ning Jia, F. Warren McFarlan and Xiaohui Li

Xinxing Ductile Iron Pipes Co. is a Chinese state-owned enterprise (SOE) that manufactures cast pipe products and steel products. The company had grown to become a dominant player in the ductile iron pipe industry, holding more than 40% domestic market share and nearly... View Details

Keywords: Control Systems; Cost Centers; Manufacturing; Profit Centers; China

12 Jun 2018
Research & Ideas

In a Landscape of 'Me Too' Drug Development, What Spurs Radical Innovation?

ubingruo New research finds that large pharmaceutical companies, typically conservative in their pursuit of novel drug development, are more willing to undertake radical innovation after receiving an unexpected cash windfall. The... View Details

Keywords: by Rachel Layne; Health; Pharmaceutical

1989
Book

Planning and Power in Iran: Ebtehaj and Economic Development under the Shah

By: Geoffrey Jones

This book provides a biography of Abol Hassan Ebtehaj, who headed Iran's central bank and Plan Organization during the 1940s and 1950s. It provides a wide-ranging survey of the problems of modernization and economic planning in Iran. Ebtehaj was at the center of... View Details

Keywords: Crime and Corruption; Decision Making; Economics; Central Banking; Policy; Political History; Resignation and Termination; Biography; Books; Surveys; Growth and Development Strategy; Planning; Iran

Article

Best Practices in Estimating the Cost of Capital: Survey and Synthesis

By: Robert Bruner, Kenneth M. Eades, Robert S. Harris and Robert F. Higgins

This paper presents the results of a cost-of-capital survey of 27 highly regarded corporations, ten leading financial advisers, and seven best selling textbooks and trade books. The results show close alignment among all these groups on the use of common theoretical... View Details

Keywords: Cost of Capital

2005
Working Paper

Money Illusion in the Stock Market: The Modigliani-Cohn Hypothesis

By: Randolph B. Cohen, Christopher Polk and Tuomo Vuolteenaho

Modigliani and Cohn [1979] hypothesize that the stock market suffers from money illusion, discounting real cash flows at nominal discount rates. While previous research has focused on the pricing of the aggregate stock market relative to Treasury bills, the... View Details

Keywords: Stocks; Price; Cash Flow

25 Jan 2021
Book

In a Nutshell, Why American Capitalism Succeeded

How did the United States become the world’s center of business growth following its founding in 1776? Surely a number of nations had powerful natural resources, stable financial and legal institutions, and dynamic entrepreneurs over that same span. Why was American... View Details

Keywords: by Sean Silverthorne; Manufacturing

September 2010 (Revised May 2011)
Case

Leadership in Corporate Reporting Policy at Tata Steel

By: Karthik Ramanna and Rachna Tahilyani

The case describes the challenges faced by Tata Steel, India's largest private sector steel company, as it transitions from Indian GAAP to IFRS. It first describes those challenges in the context of the institutional voids that make IFRS adoption difficult in India.... View Details

Keywords: Financial Reporting; International Accounting; Multinational Firms and Management; Policy; Leadership; Emerging Markets; Standards; Organizational Change and Adaptation; Steel Industry; India

Educators

April 1998
Case

Venture Capital in Ireland: Getting Their ACT Together

By: Paul A. Gompers and Catherine M. Conneely

Analyzes the decisions of Niall Carroll, an Irish banker, to start a venture capital fund focused on Ireland. The context of the Irish markets and the nature of Irish opportunities are explored. View Details

Keywords: Business Startups; Venture Capital; Markets; Market Entry and Exit; Financial Services Industry; Republic of Ireland