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(2,888)
- News (476)
- Research (2,213)
- Events (43)
- Multimedia (14)
- Faculty Publications (1,430)
Show Results For
- All HBS Web
(2,888)
- News (476)
- Research (2,213)
- Events (43)
- Multimedia (14)
- Faculty Publications (1,430)
- March 2021
- Article
International Trade and Social Connectedness
By: Michael Bailey, Abhinav Gupta, Sebastian Hillenbrand, Theresa Kuchler, Robert J. Richmond and Johannes Stroebel
We use de-identified data from Facebook to construct a new and publicly available measure of the pairwise social connectedness between 170 countries and 332 European regions. We find that two countries trade more when they are more socially connected, especially for... View Details
Bailey, Michael, Abhinav Gupta, Sebastian Hillenbrand, Theresa Kuchler, Robert J. Richmond, and Johannes Stroebel. "International Trade and Social Connectedness." Journal of International Economics 129 (March 2021).
- June, 2021
- Article
Learning from Deregulation: The Asymmetric Impact of Lockdown and Reopening on Risky Behavior During COVID-19
By: Edward L. Glaeser, Ginger Zhe Jin, Benjamin T. Leyden and Michael Luca
During the COVID-19 pandemic, states issued and then rescinded stay-at-home orders that restricted mobility. We develop a model of learning by deregulation, which predicts that lifting stay-at-home orders can signal that going out has become safer. Using restaurant... View Details
Keywords: COVID-19; Lockdown; Reopening; Impact; Coronavirus; Public Health Measures; Mobility; Health Pandemics; Governing Rules, Regulations, and Reforms; Consumer Behavior
Glaeser, Edward L., Ginger Zhe Jin, Benjamin T. Leyden, and Michael Luca. "Learning from Deregulation: The Asymmetric Impact of Lockdown and Reopening on Risky Behavior During COVID-19." Journal of Regional Science 61, no. 4 (June, 2021): 696–709.
- Article
Financial Innovation and Endogenous Growth
By: Luc Laeven, Ross Levine and Stelios Michalopoulos
Is financial innovation necessary for sustaining economic growth? To address this question, we build a Schumpeterian model in which entrepreneurs earn profits by inventing better goods, and profit-maximizing financiers arise to screen entrepreneurs. The model has two... View Details
Laeven, Luc, Ross Levine, and Stelios Michalopoulos. "Financial Innovation and Endogenous Growth." Journal of Financial Intermediation 24, no. 1 (January 2015): 1–24.
- Article
Do Strict Capital Requirements Raise the Cost of Capital? Bank Regulation, Capital Structure and the Low Risk Anomaly
By: Malcolm Baker and Jeffrey Wurgler
Traditional capital structure theory predicts that reducing banks' leverage reduces the risk and cost of equity but does not change the weighted average cost of capital, and thus the rates for borrowers. We confirm that the equity of better-capitalized banks has lower... View Details
Baker, Malcolm, and Jeffrey Wurgler. "Do Strict Capital Requirements Raise the Cost of Capital? Bank Regulation, Capital Structure and the Low Risk Anomaly." American Economic Review: Papers and Proceedings 105, no. 5 (May 2015): 315–320.
- January–February 2012
- Article
A Simple Model Relating Accruals to Risk, and its Implications for the Accrual Anomaly
By: Mozaffar N. Khan
This paper models systematic risk as a function of mean-reverting accruals. When the true abnormal returns are zero, but the true betas are empirically unobserved, the model predicts the anomalous pattern of empirical results on the accrual anomaly: (i) CAPM abnormal... View Details
Khan, Mozaffar N. "A Simple Model Relating Accruals to Risk, and its Implications for the Accrual Anomaly." Journal of Business Finance & Accounting 39, nos. 1-2 (January–February 2012): 35–59.
- October 2015
- Article
Agglomerative Forces and Cluster Shapes
By: William R. Kerr and Scott Duke Kominers
We model spatial clusters of similar firms. Our model highlights how agglomerative forces lead to localized, individual connections among firms, while interaction costs generate a defined distance over which attraction forces operate. Overlapping firm interactions... View Details
Keywords: Agglomeration; Clusters; Industrial Organization; Silicon Valley; Technology Flows; Patents; Networks; Information Technology; Industry Clusters; Entrepreneurship; California
Kerr, William R., and Scott Duke Kominers. "Agglomerative Forces and Cluster Shapes." Review of Economics and Statistics 97, no. 4 (October 2015): 877–899.
- January 2014
- Article
Randomized Tax Enforcement Messages: A Policy Tool for Improving Audit Strategies
By: Dina Pomeranz, Cristobal Marshall and Pamela Castellon
Reducing tax evasion is a key challenge for governments around the world, particularly in developing countries. This paper presents a methodology to generate information to optimize audit strategies. Randomly selected taxpayers receive a deterrence message. Comparing... View Details
Pomeranz, Dina, Cristobal Marshall, and Pamela Castellon. "Randomized Tax Enforcement Messages: A Policy Tool for Improving Audit Strategies." Tax Administration Review, no. 36 (January 2014): 1–21.
- 15 Sep 2014
- News
How Keeping a Diary Can Surprise You
- 07 Oct 2014
- HBS Seminar
Dylan Minor, Kellogg School of Management, Northwestern University
- 06 Dec 2012
- HBS Seminar
Ron Burt, University of Chicago
- 2007
- Working Paper
Highbrow Films Gather Dust: Time-inconsistent Preferences and Online DVD Rentals
By: Katherine L. Milkman, Todd Rogers and Max H. Bazerman
We report on a field study demonstrating systematic differences between the preferences people anticipate they will have over a series of options in the future and their subsequent revealed preferences over those options. Using a novel panel data set, we analyze the... View Details
Keywords: Internet and the Web; Decision Choices and Conditions; Attitudes; Conflict and Resolution; Emotions; Film Entertainment; Cognition and Thinking; Entertainment and Recreation Industry
Milkman, Katherine L., Todd Rogers, and Max H. Bazerman. "Highbrow Films Gather Dust: Time-inconsistent Preferences and Online DVD Rentals." Harvard Business School Working Paper, No. 07-099, June 2007. (Revised July 2007, December 2007, April 2008, September 2008, January 2009.)
- Research Summary
Overview
Professor Nagle studies how competitors can collaborate on the creation of core technologies, while still competing on the products and services built on top of them. His research falls into the broader categories of the futures of work, the economics of IT, and... View Details
- 2024
- Working Paper
The Real Effects of Bankruptcy Forum Shopping
By: Samuel Antill and Aymeric Bellon
Many non-Delaware firms strategically file for bankruptcy in Delaware. Should this "forum shopping" be allowed? This question has motivated six congressional bill proposals over decades of policy debate. Using a novel natural experiment and Census-Bureau microdata, we... View Details
Antill, Samuel, and Aymeric Bellon. "The Real Effects of Bankruptcy Forum Shopping." Working Paper, December 2024.
- 2024
- Working Paper
How Inflation Expectations De-Anchor: The Role of Selective Memory Cues
By: Nicola Gennaioli, Marta Leva, Raphael Schoenle and Andrei Shleifer
In a model of memory and selective recall, household inflation expectations remain rigid when inflation is anchored but exhibit sharp instability during inflation surges, as similarity prompts retrieval of forgotten high-inflation experiences. Using data from the New... View Details
Gennaioli, Nicola, Marta Leva, Raphael Schoenle, and Andrei Shleifer. "How Inflation Expectations De-Anchor: The Role of Selective Memory Cues." NBER Working Paper Series, No. 32633, June 2024.
- Forthcoming
- Article
FinTech Lending and Cashless Payments
By: Pulak Ghosh, Boris Vallée and Yao Zeng
Borrower's use of cashless payments both improves their access to capital from FinTech lenders and predicts a lower probability of default. These relationships are stronger for cashless technologies providing more precise information, and for outflows. Cashless payment... View Details
- Article
Learning Models for Actionable Recourse
By: Alexis Ross, Himabindu Lakkaraju and Osbert Bastani
As machine learning models are increasingly deployed in high-stakes domains such as legal and financial decision-making, there has been growing interest in post-hoc methods for generating counterfactual explanations. Such explanations provide individuals adversely... View Details
Ross, Alexis, Himabindu Lakkaraju, and Osbert Bastani. "Learning Models for Actionable Recourse." Advances in Neural Information Processing Systems (NeurIPS) 34 (2021).
- 2003
- Chapter
Short-Term America Revisited? Boom and Bust in the Venture Capital Industry and the Impact on Innovation
By: Josh Lerner and Paul A. Gompers
This chapter seeks to understand the implications of the recent decline in venture activity for innovation. It argues that the situation may not be as grim as it initially appears. While there are many reasons for believing that on average venture capital has a... View Details
Keywords: Venture Capital; Innovation and Invention; Business Cycles; Financial Services Industry; United States
Lerner, Josh, and Paul A. Gompers. "Short-Term America Revisited? Boom and Bust in the Venture Capital Industry and the Impact on Innovation." In Innovation Policy and the Economy, Volume 3, edited by Adam B. Jaffe, Josh Lerner, and Scott Stern, 1–28. MIT Press, 2003.
- February 2013
- Article
Towards an Understanding of the Role of Standard Setters in Standard Setting
By: Abigail M. Allen and Karthik Ramanna
We investigate the effect of standard setters in standard setting: we examine how certain professional and political characteristics of FASB members and SEC commissioners predict the accounting "reliability" and "relevance" of proposed standards. Notably, we find FASB... View Details
Keywords: FASB; Politics; Relevance; Reliability; Standard Setting; Accounting; Standards; Fair Value Accounting; Government and Politics; Personal Characteristics
Allen, Abigail M., and Karthik Ramanna. "Towards an Understanding of the Role of Standard Setters in Standard Setting." Journal of Accounting & Economics 55, no. 1 (February 2013): 66–90. (Journal of Accounting & Economics Editors' Choice Article.)
- January 2010
- Article
Clusters of Entrepreneurship
By: Edward L. Glaeser, William R. Kerr and Giacomo A.M. Ponzetto
Employment growth is strongly predicted by smaller average establishment size, both across cities and across industries within cities, but there is little consensus on why this relationship exists. Traditional economic explanations emphasize factors that reduce entry... View Details
Glaeser, Edward L., William R. Kerr, and Giacomo A.M. Ponzetto. "Clusters of Entrepreneurship." Journal of Urban Economics 67, no. 1 (January 2010): 150–168.
- May 1992
- Supplement
Fabtek (B)
By: Rowland T. Moriarty Jr. and Benson P. Shapiro
Presents an urgent order for repair service from an important customer who had purchased an item from a competitor. The item, which TiFab had bid on, went out at a price that TiFab predicted was below the amount necessary to ensure quality manufacture. Now the customer... View Details
Moriarty, Rowland T., Jr., and Benson P. Shapiro. "Fabtek (B)." Harvard Business School Supplement 592-096, May 1992.