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- All HBS Web
(1,552)
- People (1)
- News (221)
- Research (1,156)
- Events (6)
- Multimedia (6)
- Faculty Publications (743)
- April 2002
- Article
Internal Capital Markets and Firm-Level Compensation Incentives for Division Managers
By: Julie Wulf
Do multidivisional firms structure compensation contracts for division managers to mitigate incentive problems in their internal capital markets? I find evidence that compensation and investment incentives are substitutes: firms providing a stronger link to firm... View Details
Keywords: Capital Markets; Executive Compensation; Capital Budgeting; Motivation and Incentives; Profit; Decisions; Resource Allocation; Performance; Investment; Contracts
Wulf, Julie. "Internal Capital Markets and Firm-Level Compensation Incentives for Division Managers." Journal of Labor Economics 20, no. 2 (April 2002): S219–S262.
- June 2014
- Article
Pitfalls and Fraud in Online Advertising Metrics: What Makes Advertisers Vulnerable to Cheaters, and How They Can Protect Themselves
By: Benjamin Edelman
How does online advertising become less effective than advertisers expect and less effective than measurements indicate? The current research explores problems that result, in part, from malfeasance by outside perpetrators who overstate their efforts to increase their... View Details
Keywords: Online Advertising; Measurement; Mismeasurement; Fraud; Invisible; Digital Marketing; Misleading and Fraudulent Advertising; Marketing Strategy
Edelman, Benjamin. "Pitfalls and Fraud in Online Advertising Metrics: What Makes Advertisers Vulnerable to Cheaters, and How They Can Protect Themselves." Journal of Advertising Research 54, no. 2 (June 2014): 127–132.
- January 1985 (Revised June 1993)
- Case
Turner Construction Co.
By: Frank V. Cespedes
In June, 1984, a vice president at Turner Construction Co. must decide whether to approve a construction project being considered by one of Turner's territorial offices and how to manage that territory general manager's apparent reluctance to pursue another account... View Details
Keywords: Organizational Structure; Projects; Market Entry and Exit; Integration; Contracts; Marketing Strategy; Sales; Business or Company Management; Business Offices; Geographic Location; Construction Industry
Cespedes, Frank V. "Turner Construction Co." Harvard Business School Case 585-031, January 1985. (Revised June 1993.)
- November 2002 (Revised August 2003)
- Case
MedSource Technologies
Considers the issues facing Richard Effress, MedSource's chairman and CEO, as the firm approaches the Precision Cut project--the first test of MedSource's capabilities as an integrated, contract manufacturer in the medical device industry. MedSource Technologies was... View Details
Keywords: Product Development; Production; Mergers and Acquisitions; Product Design; Supply Chain Management; Management Teams; Medical Devices and Supplies Industry; United States
Huckman, Robert S. "MedSource Technologies." Harvard Business School Case 603-081, November 2002. (Revised August 2003.)
- August 2015 (Revised August 2015)
- Case
Hoag Orthopedic Institute
By: Robert S. Kaplan and Jonathan Warsh
Two groups of orthopedic surgeons form a joint venture with a community hospital to establish Hoag Orthopedic Institute, a for-profit hospital and two ambulatory service centers. By controlling and integrating all aspects of the patients' medical treatment, the... View Details
Keywords: Outcomes Measurement; Bundled Payment; Health Care; Activity-based Costing And Management; Measurement and Metrics; Activity Based Costing and Management; Competitive Strategy; Medical Specialties; Health Care and Treatment; Outcome or Result; Health Industry
Kaplan, Robert S., and Jonathan Warsh. "Hoag Orthopedic Institute." Harvard Business School Case 115-023, August 2015. (Revised August 2015.)
- Winter 2014
- Article
Does Service Bundling Reduce Churn?
By: Jeff Prince and Shane Greenstein
We examine whether bundling in telecommunications services reduces churn using a series of large, independent cross sections of household decisions. To identify the effect of bundling, we construct a pseudo-panel dataset and utilize a linear, dynamic panel-data model,... View Details
Keywords: Communication Technology; Customer Satisfaction; Product Marketing; Telecommunications Industry
Prince, Jeff, and Shane Greenstein. "Does Service Bundling Reduce Churn?" Journal of Economics & Management Strategy 23, no. 4 (Winter 2014): 839–875.
- December 2021 (Revised January 2023)
- Case
Katerra (A)
By: Lindsay N. Hyde, Thomas R. Eisenmann and Tom Quinn
In April 2020, Katerra executives struggled with a series of decisions that would determine the fate of one of the best-funded construction startups in history. Katerra was founded in 2015 by technology-industry executive Michael Marks and commercial real estate... View Details
Keywords: Business Startups; Insolvency and Bankruptcy; Entrepreneurship; Failure; Construction; Real Estate Industry; Technology Industry; United States
Hyde, Lindsay N., Thomas R. Eisenmann, and Tom Quinn. "Katerra (A)." Harvard Business School Case 822-021, December 2021. (Revised January 2023.)
U.S. Monetary Policy and Emerging Markets Credit Cycles
Foreign banks’ lending to firms in emerging market economies is large and denominated predominantly in U.S. dollars. This creates a direct connection between U.S. monetary policy and EME credit cycles. We estimate that over a typical U.S. monetary easing cycle, EME... View Details
- June 2017
- Article
Is Operating Flexibility Harmful under Debt?
By: Nikolaos Trichakis, Dan A. Iancu and Gerry Tsoukalas
We study the inefficiencies stemming from a firm's operating flexibility under debt. We find that flexibility in replenishing or liquidating inventory, by providing risk-shifting incentives, could lead to borrowing costs that erase more than a third of the firm's... View Details
Keywords: Covenants; Risk-shifting; Inventory; Agency Costs; Debt Financing; Risk Management; Borrowing and Debt
Trichakis, Nikolaos, Dan A. Iancu, and Gerry Tsoukalas. "Is Operating Flexibility Harmful under Debt?" Management Science 63, no. 6 (June 2017): 1730–1761.
- Article
Why Do Intermediaries Divert Search?
By: Andrei Hagiu and Bruno Jullien
We analyze the incentives to divert search for an information intermediary who enables buyers (consumers) to search affiliated sellers (stores). We identify two original motives for diverting search (i.e., inducing consumers to search more than they would like): 1)... View Details
Keywords: Market Intermediation; Search; Two-Sided Markets; Platform Design; Demand and Consumers; Motivation and Incentives; Internet and the Web; Digital Platforms; Distribution Channels; Business Strategy; Retail Industry
Hagiu, Andrei, and Bruno Jullien. "Why Do Intermediaries Divert Search?" RAND Journal of Economics 42, no. 2 (Summer 2011): 337–362. (2012 Winner for Best Paper on Competition Economics, Association of Competition Economics.)
- February 2003 (Revised March 2006)
- Case
Centre Suisse d'Electronique et de Microtechnique (CSEM)
By: Michael E. Porter, Willis M. Emmons III and Christian Fenner
Le Centre Suisse d'Electronique et de Microtechnique S.A. (CSEM)--the Swiss Center for Electronics and Microtechnology--was a major nonprofit research institution located in Neuchatel, Switzerland, with roots in the Swiss watch industry. CSEM maintained close links to... View Details
Keywords: Cooperation; Information Technology; Alliances; Research and Development; Performance Productivity; Innovation and Invention; Nonprofit Organizations; Electronics Industry; Switzerland
Porter, Michael E., Willis M. Emmons III, and Christian Fenner. "Centre Suisse d'Electronique et de Microtechnique (CSEM)." Harvard Business School Case 703-438, February 2003. (Revised March 2006.)
- April 2005 (Revised May 2005)
- Case
Exel PLC--Supply Chain Management at Haus Mart
By: Zeynep Ton and Steven C. Wheelwright
Exel plc is a global third-party logistics provider, serving clients such as Home Depot, Dell, Unilever, and Marks & Spencer. Describes the range of activities Exel performs for its clients and the capabilities the company has developed. Exel traditionally focused on... View Details
Ton, Zeynep, and Steven C. Wheelwright. "Exel PLC--Supply Chain Management at Haus Mart." Harvard Business School Case 605-080, April 2005. (Revised May 2005.)
- September 2007
- Article
Related Lending and Economic Performance: Evidence from Mexico
By: Noel Maurer and Stephen Haber
Related lending, a widespread practice in LDCs, is widely held to encourage bankers to loot their banks at the expense of minority shareholders and depositors. We argue that neither looting nor credit misallocation are necessary outcomes of related lending. On... View Details
Keywords: Crime and Corruption; Developing Countries and Economies; Financial Crisis; Financing and Loans; History; Business and Shareholder Relations; Banking Industry; Mexico
Maurer, Noel, and Stephen Haber. "Related Lending and Economic Performance: Evidence from Mexico." Journal of Economic History 67, no. 3 (September 2007): 551–581.
- 2007
- Working Paper
Why Do Intermediaries Divert Search?
By: Andrei Hagiu and Bruno Jullien
We analyze the incentives to divert search for an information intermediary who enables buyers (consumers) to search affiliated sellers (stores). We identify two original motives for diverting search (i.e. inducing consumers to search more than they would like): i)... View Details
Keywords: Demand and Consumers; Motivation and Incentives; Internet and the Web; Digital Platforms; Distribution Channels; Business Strategy; Retail Industry
Hagiu, Andrei, and Bruno Jullien. "Why Do Intermediaries Divert Search?" Harvard Business School Working Paper, No. 08-010, August 2007. (Revised February 2009, May 2010.)
- June 2018
- Article
Deviations from Covered Interest Rate Parity
By: Wenxin Du, Alexander Tepper and Adrien Verdelhan
We find that deviations from the covered interest rate parity (CIP) condition imply large, persistent, and systematic arbitrage opportunities in one of the largest asset markets in the world. Contrary to the common view, these deviations for major currencies are not... View Details
Du, Wenxin, Alexander Tepper, and Adrien Verdelhan. "Deviations from Covered Interest Rate Parity." Journal of Finance 73, no. 3 (June 2018): 915–957.
- March 2008 (Revised March 2009)
- Case
Purolator Courier Ltd.
By: Rajiv Lal and Catherine Ross
On a fall day in September 2003, Robert Swanborough made his way down a thickly carpeted hallway in Purolator's headquarters in Toronto, Canada, toward a meeting with his two deputies. Several months earlier, Swanborough, then vice-president of Marketing, had been... View Details
Keywords: Conferences; Customer Focus and Relationships; Leading Change; Marketing Strategy; Performance Effectiveness; Strategic Planning; Research; Segmentation; Canada
Lal, Rajiv, and Catherine Ross. "Purolator Courier Ltd." Harvard Business School Case 508-054, March 2008. (Revised March 2009.)
- October 2019
- Article
Partial Deregulation and Competition: Effects on Risky Mortgage Origination
By: Marco Di Maggio, Amir Kermani and Sanket Korgaonkar
We exploit the OCC's preemption of national banks from state laws against predatory lending as a quasi-experiment to study the effect of deregulation and its interaction with competition on the supply of complex mortgages. Following the preemption ruling, national... View Details
Keywords: Great Recession; Subprime; Complex Mortgages; Credit Supply; Household Debt; Preemption Rule; Competition; Mortgages; Government Legislation; Credit; Financial Crisis
Di Maggio, Marco, Amir Kermani, and Sanket Korgaonkar. "Partial Deregulation and Competition: Effects on Risky Mortgage Origination." Management Science 65, no. 10 (October 2019).
- June 2025
- Supplement
Transforming a Titan (C)
By: George Serafeim and Lena Duchene
Three years in his tenure as CEO, Cobuz must decide whether to launch a more than €500 million carbon-capture-and-storage facility. The project—Europe’s largest planned CCS installation—would cut almost 20 % of group emissions and unlock a €234 million EU Innovation... View Details
- 2010
- Working Paper
A Behavioral Model of Demandable Deposits and Its Implications for Financial Regulation
By: Julio J. Rotemberg
A model is developed that rationalizes contracts that give depositors the right to obtain funds on demand even when depositors intend to use these funds for consumption in the future. This is explained by depositor overoptimism regarding their own ability to collect... View Details
Keywords: Banks and Banking; Insurance; Governing Rules, Regulations, and Reforms; Policy; Consumer Behavior; Financial Services Industry
Rotemberg, Julio J. "A Behavioral Model of Demandable Deposits and Its Implications for Financial Regulation." NBER Working Paper Series, No. 16620, December 2010.
- July 2008 (Revised November 2012)
- Supplement
UpDown: Confidential Instructions for GEORG
By: Noam Wasserman and Deepak Malhotra
Michael Reich is having severe doubts about how he split the equity with his co-founders two months ago, when they completed a one-page "November Agreement." Since then, Michael has found an angel investor and has worked non-stop on the business, while one co-founder... View Details
Wasserman, Noam, and Deepak Malhotra. "UpDown: Confidential Instructions for GEORG." Harvard Business School Supplement 809-022, July 2008. (Revised November 2012.)