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- Faculty Publications (3,431)
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- All HBS Web
(11,363)
- Faculty Publications (3,431)
- October 2019
- Article
Does Political Uncertainty Increase External Financing Costs? Measuring the Electoral Premium in Syndicated Lending
By: Olivia S. Kim
This article investigates the impact of political uncertainty on contractual lending terms using a large sample of syndicated loans and a within-firm estimation approach to achieve identification. Firms pay 7 basis points (bps) more on loans originated when their... View Details
Keywords: Risk and Uncertainty; Political Elections; Financing and Loans; Developing Countries and Economies
Kim, Olivia S. "Does Political Uncertainty Increase External Financing Costs? Measuring the Electoral Premium in Syndicated Lending." Journal of Financial and Quantitative Analysis 54, no. 5 (October 2019): 2141–2178.
- 2020
- Chapter
Ethical Business, Corruption and Economic Development in Comparative Perspective
By: Janet Hunter and G. Jones
This chapter contextualises the drivers of corruption in Turkish business through comparisons with Japan and India in the late 19th century. It identifies the developmental state as a common driver of corruption. Catching up by using extensive state intervention had... View Details
Keywords: Corruption; Crime and Corruption; Economic Growth; Turkey; Middle East; Central Asia; Japan; India
Hunter, Janet, and G. Jones. "Ethical Business, Corruption and Economic Development in Comparative Perspective." Chap. 10 in Business, Ethics and Institutions: The Evolution of Turkish Capitalism in Global Perspectives, edited by Asli M. Colpan and G. Jones, 224–245. New York: Routledge, 2019.
- October 2019 (Revised February 2021)
- Case
Myanmar: Special Economic Zones
By: Willy Shih and Dawn Lau
This case examines four Special Economic Zones in Myanmar. While the country's development had been hobbled by a complex history of military rule, ethnic conflict, and international sanctions, as it pursued liberalization it sought avenues to developing its economy.... View Details
Keywords: Economic Development; Emerging Economies; Special Economic Zones (SEZs); Development Economics; Developing Countries and Economies; Manufacturing Industry; Energy Industry; Southeast Asia; Myanmar
Shih, Willy, and Dawn Lau. "Myanmar: Special Economic Zones." Harvard Business School Case 620-027, October 2019. (Revised February 2021.)
- September 2019 (Revised August 2020)
- Case
Engineering an Inclusive Bioeconomy
By: Tarun Khanna, Raffaella Sadun and Susie L. Ma
In 2019, entrepreneur Juan Carlos Castilla-Rubio was developing a project he hoped could generate and share wealth from the natural resources of the Amazon without destroying those resources. His idea, called Earth Bank of Codes (EBC), would create a library of the... View Details
Keywords: Decision Making; Development Economics; Entrepreneurship; Innovation and Invention; Intellectual Property; Emerging Markets; Market Design; Marketplace Matching; Science; Genetics; Natural Environment; Environmental Sustainability; Climate Change; Social Enterprise; Strategy; Strategic Planning; Information Technology; Ownership; Social Psychology; Trust; Society; Biotechnology Industry; South America; Amazon Basin
Khanna, Tarun, Raffaella Sadun, and Susie L. Ma. "Engineering an Inclusive Bioeconomy." Harvard Business School Case 720-356, September 2019. (Revised August 2020.)
- 2019
- Working Paper
Stewardship Codes and Shareholder Voting on Disputed Ballot Measures
By: Trang T. Nguyen and Charles CY Wang
This study examines the impact of stewardship codes on investor voting behavior in disputed ballot measures-- where ISS's recommendation differs from management's recommendation-- across nine countries. U.S. institutional investors' voting behavior in adopting country... View Details
- September 2019
- Case
Bill & Melinda Gates Foundation: Shaping the Vaccine Manufacturing Ecosystem
By: Willy C. Shih
Vaccines for children has been a long-standing focus for the Bill & Melinda Gates Foundation, and its critical role in public health made its production an important economic and political issue. This case describes the Foundation's investment in a breakthrough vaccine... View Details
Keywords: Vaccine; Production; Supply Chain; Product; Biotechnology Industry; Pharmaceutical Industry; Manufacturing Industry; Belgium
Shih, Willy C. "Bill & Melinda Gates Foundation: Shaping the Vaccine Manufacturing Ecosystem." Harvard Business School Case 620-021, September 2019.
- 2020
- Working Paper
Collusion in Brokered Markets
By: John William Hatfield, Scott Duke Kominers and Richard Lowery
The U.S. residential real estate agency market presents a puzzle for economic theory: commissions on real estate transactions have remained high for decades even though entry is frequent and costs are low. We model the real estate agency market, and other brokered... View Details
Keywords: Real Estate; "Repeated Games"; Collusion; Antitrust; Brokered Markets; Game Theory; Real Estate Industry
Hatfield, John William, Scott Duke Kominers, and Richard Lowery. "Collusion in Brokered Markets." Harvard Business School Working Paper, No. 20-023, September 2019. (Revised July 2020.)
- September 2019 (Revised February 2020)
- Teaching Note
Commonwealth Bank of Australia: Unbanklike Experimentation
By: Ryan W. Buell and Leslie K. John
Email mking@hbs.edu for a courtesy copy.
This Teaching Note explains the theory of the case and teaching plan for the case: Commonwealth Bank of Australia: Unbanklike Experimentation (619-018). In August 2017,... View Details
This Teaching Note explains the theory of the case and teaching plan for the case: Commonwealth Bank of Australia: Unbanklike Experimentation (619-018). In August 2017,... View Details
- September 2019 (Revised July 2021)
- Case
Port Competition in the Pearl River Delta
By: Willy Shih
This case examines the competition between ports and port operators in the Pearl River Delta over the last four decades. The cities surrounding the Pearl River estuary are the "workshop of the world," and the development of manufacturing in the region was heavily... View Details
Keywords: Trade Links; Global Business; Globalization; Trade; Supply Chain; Logistics; Transportation Industry; Asia; Hong Kong; China
Shih, Willy. "Port Competition in the Pearl River Delta." Harvard Business School Case 620-038, September 2019. (Revised July 2021.)
- September 2019
- Article
Bankruptcy Spillovers
By: Shai Bernstein, Emanuele Colonnelli, Xavier Giroud and Benjamin Iverson
How do different bankruptcy approaches affect the local economy? Using U.S. Census microdata, we explore the spillover effects of reorganization and liquidation on geographically proximate firms. We exploit the random assignment of bankruptcy judges as a source of... View Details
Keywords: Agglomeration; Insolvency and Bankruptcy; Economy; Governing Rules, Regulations, and Reforms
Bernstein, Shai, Emanuele Colonnelli, Xavier Giroud, and Benjamin Iverson. "Bankruptcy Spillovers." Special Issue on Labor and Finance. Journal of Financial Economics 133, no. 3 (September 2019): 608–633.
- 2019
- White Paper
Impact-Weighted Financial Accounts: The Missing Piece for an Impact Economy
By: George Serafeim, T. Robert Zochowski and Jennifer Downing
Reimagining capitalism is an imperative. We need to create a more inclusive and sustainable form of capitalism that works for every person and the planet. Massive environmental damage, growing income and wealth disparity, stress, and depression within developed... View Details
Keywords: Impact-Weighted Accounts; IWAI; Background; Economic Systems; Economy; Corporate Social Responsibility and Impact; Measurement and Metrics; Financial Statements
Serafeim, George, T. Robert Zochowski, and Jennifer Downing. "Impact-Weighted Financial Accounts: The Missing Piece for an Impact Economy." White Paper, Harvard Business School, Boston, MA, September 2019.
- 2019
- Article
More Amazon Effects: Online Competition and Pricing Behaviors
By: Alberto Cavallo
I study how online competition, with its shrinking margins, algorithmic pricing technologies, and the transparency of the web, can change the pricing behavior of large retailers in the U.S. and affect aggregate inflation dynamics. In particular, I show that in the past... View Details
Keywords: Amazon; Online Prices; Inflation; Uniform Pricing; Price Stickiness; Monetary Economics; Economics; Macroeconomics; Inflation and Deflation; System Shocks; United States
Cavallo, Alberto. "More Amazon Effects: Online Competition and Pricing Behaviors." Jackson Hole Economic Symposium Conference Proceedings (Federal Reserve Bank of Kansas City) (2019).
- 2019
- Working Paper
On Her Own Account: How Strengthening Women's Financial Control Affects Labor Supply and Gender Norms
By: Natalia Rigol, Erica Field, Rohini Pande, Simone Schaner and Charity Troyer-Moore
Can greater control over earned income incentivize women to work and influence gender norms? In collaboration with Indian government partners, we provided rural women with individual bank accounts and randomly varied whether their wages from a public workfare program... View Details
Rigol, Natalia, Erica Field, Rohini Pande, Simone Schaner, and Charity Troyer-Moore. "On Her Own Account: How Strengthening Women's Financial Control Affects Labor Supply and Gender Norms." NBER Working Paper Series, No. 26294, September 2019.
- 2019
- Book
Problem Solving: HBS Alumni Making a Difference in the World
By: Howard H. Stevenson, Russ Banham and Shirley Spence
Problem Solving is the culmination of four years of research conducted by a small project team from 2015 through 2018 in collaboration with HBS alumni, students, faculty, and staff. Its broad and deep knowledge base is derived from a survey of 13 MBA classes... View Details
Stevenson, Howard H., Russ Banham, and Shirley Spence. Problem Solving: HBS Alumni Making a Difference in the World. Southwestern Publishing Group, 2019.
- 2019
- Book
The Economic Turn: Recasting Political Economy in Enlightenment Europe
By: Steven L. Kaplan and Sophus A. Reinert
The mid-eighteenth century witnessed what might be dubbed an “economic turn” that resolutely changed the trajectory of world history. From the birth of new agricultural practices and the foundation of private societies to the sustained and popular theorization of... View Details
Kaplan, Steven L., and Sophus A. Reinert, eds. The Economic Turn: Recasting Political Economy in Enlightenment Europe. London: Anthem Press, 2019.
- Article
Valuing Time Over Money Predicts Happiness After a Major Life Transition: A Preregistered Longitudinal Study of Graduating Students
By: A.V. Whillans, Lucia Macchia and Elizabeth Dunn
How does prioritizing time or money shape major life decisions and subsequent well-being? In a preregistered longitudinal study of approximately 1000 graduating university students, respondents who valued time over money chose more intrinsically rewarding activities... View Details
Keywords: Time Use; Trade-offs; Career Decisions; Time Management; Money; Happiness; Values and Beliefs; Personal Development and Career
Whillans, A.V., Lucia Macchia, and Elizabeth Dunn. "Valuing Time Over Money Predicts Happiness After a Major Life Transition: A Preregistered Longitudinal Study of Graduating Students." Science Advances 5, no. 9 (September 2019).
- August 2019 (Revised February 2020)
- Case
New Hope Liuhe: Building an Integrated Agri-Food Business
By: Forest L. Reinhardt, Shu Lin, Natalie Kindred and Nancy Hua Dai
In October 2018, LIU Chang (Angela), chairman of Beijing-based New Hope Liuhe (NHL), was considering the strategy of the firm. With $9 billion in sales and a presence in nearly 20 countries, NHL was China’s largest animal feed producer and a major pork and poultry... View Details
Keywords: Strategy; Corporate Strategy; Food; Agribusiness; Expansion; Diversification; Growth Management; Consumer Behavior; Change Management; Entrepreneurship; Organizational Structure; Organizational Change and Adaptation; Government and Politics; Animal-Based Agribusiness; Transformation; Volatility; Business Cycles; Goods and Commodities; Supply Chain; Product; Agriculture and Agribusiness Industry; Food and Beverage Industry; China; Asia
Reinhardt, Forest L., Shu Lin, Natalie Kindred, and Nancy Hua Dai. "New Hope Liuhe: Building an Integrated Agri-Food Business." Harvard Business School Case 720-009, August 2019. (Revised February 2020.)
- August 2019
- Case
Kazakhstan Railways: From the Middle of Nowhere to a Center of Trade?
By: Willy Shih and Esel Çekin
This case describes the evolution of Kazakhstan's rail connectivity strategy post-collapse of the Soviet Union and its now central role in China's Belt and Road Initiative. This meant shifting from a north-south orientation towards an east-west one, as well as the... View Details
Keywords: Geopolitics; China’s Infrastructure Exports: The ‘Belt And Road’ Initiative; Logistics; Trade; Economic Growth; Geopolitical Units; Geography; Rail Transportation; Rail Industry; Transportation Industry; Central Asia; Kazakhstan; China
Shih, Willy, and Esel Çekin. "Kazakhstan Railways: From the Middle of Nowhere to a Center of Trade?" Harvard Business School Case 620-020, August 2019.
- August 2019
- Case
Huawei and the U.S.-China Trade War
By: Elie Ofek and John Masko
In 2019, Chinese smartphone maker and telecommunications empire Huawei was preparing to launch its new flagship smartphone series, the Mate 30. After years of explosive growth, the previous 18 months had been a challenge for the company. In early 2018, Huawei’s planned... View Details
Keywords: Trade; Global Strategy; International Relations; National Security; Mobile and Wireless Technology; Information Infrastructure; Volatility; Adaptation; Telecommunications Industry; China; United States; European Union
Ofek, Elie, and John Masko. "Huawei and the U.S.-China Trade War." Harvard Business School Case 520-017, August 2019.
- August 2019 (Revised March 2022)
- Case
Lemonade: Disrupting Insurance with Instant Everything, Killer Prices, and a Big Heart
By: Elie Ofek and Danielle Golan
Launching its first products in the fall of 2016 in New York, insurtech startup Lemonade was on a mission to disrupt the insurance market by using AI and behavioral economics principles. The company offered renters, homeowners, and condo insurance and mainly targeted... View Details
Keywords: AI; Business Startups; Insurance; Technological Innovation; Business Model; Disruption; Brands and Branding; Growth and Development Strategy; Global Strategy; Decision Making; Insurance Industry; Technology Industry
Ofek, Elie, and Danielle Golan. "Lemonade: Disrupting Insurance with Instant Everything, Killer Prices, and a Big Heart." Harvard Business School Case 520-020, August 2019. (Revised March 2022.)