Publications

June 2004
Article

A Catering Theory of Dividends

By: Malcolm Baker and Jeffrey Wurgler

We propose that the decision to pay dividends is driven by prevailing investor demand for dividend payers. Managers cater to investors by paying dividends when investors put a stock price premium on payers, and by not paying when investors prefer nonpayers. To test... View Details

Keywords: Dividends; Catering; Financial Instruments; Investment Return; Business and Shareholder Relations

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May 2014
Article

Bias in Reduced-form Estimates of Pass-through

By: Alexander MacKay, Nathan H. Miller, Marc Remer and Gloria Sheu

We show that, in general, consistent estimates of cost pass-through are not obtained from reduced-form regressions of price on cost. We derive a formal approximation for the bias that arises even under standard orthogonality conditions. We provide guidance on the... View Details

Keywords: Pass-through; Reduced-form Aggression; Bias

01 Jun 1998
News

Katharine Graham Offers Advice on Leadership

Graham retraced the unusual path that brought her to the top position at the Washington Post in 1963. It is a story that she chronicled in Personal History, her best-selling memoir that, one week after her HBS visit, was awarded the... View Details

01 Jun 2004
News

Merck’s Gilmartin on Vaccines, Global Health

pathogens for which there are currently no vaccines: familiar maladies such as malaria, tuberculosis, and HIV, as well as newer threats, such as SARS, anthrax, and ricin. Today, Gilmartin noted, Merck is one View Details

Keywords: Merck; public health; global public health; vaccines; Health, Social Assistance; Scientific Research and Development Services

April 2016
Teaching Note

Cree Inc.: Introducing the LED Light Bulb

By: John Gourville and Michael Norris

This case is taught as part of the first year required marketing course in the Harvard Business School's MBA program. This course is built around the "Four Ps," with modules focusing on product, promotion, place, and pricing. The Cree case is used in the product policy... View Details

Keywords: Lighting Industry; Marketing; Pricing; Promotion; Technological Innovation; Energy Conservation; Product Marketing; Consumer Products Industry; Energy Industry

18 Nov 2009
HBS Case

Customer Feedback Not on elBulli’s Menu

He's been called "the Salvador Dalí of the kitchen" for creations ranging from beetroot and yogurt ice-cream lollipops to a deconstructed Spanish omelet served in a parfait glass. Each year, some 2 million hopeful diners vie to... View Details

Keywords: by Julia Hanna; Food & Beverage

06 Mar 2020
Working Paper Summaries

Consumer Protection in an Online World: An Analysis of Occupational Licensing

Keywords: by Chiara Farronato, Andrey Fradkin, Bradley Larsen, and Erik Brynjolfsson; Service

February 2016 (Revised March 2019)
Case

Suncor and the Future of Oil Sands

By: Richard H.K. Vietor

Suncor, Canada's largest producer of "oil sands," faces a host of issues involving prices, costs, and the environment. The Government of Canada recently put an explicit limit on carbon emissions from oil sands and a price on carbon. Suncor, which produces more than... View Details

Keywords: Oil Sands; Energy; Price; Operations; Cost; Energy Industry; Canada

Educators

01 Jun 2017
News

Ask the Expert: On the Fly

carry on bags, and frequently those bags are larger than allowed. Enforcement of carry-on rules has increased at most carriers, and at least one has moved to charging for... View Details

Keywords: Julia Hanna

December 2014
Article

The Real Product Market Impact of Mergers

By: Albert Sheen

I document sources of value creation in mergers by analyzing novel data on the quality and price of goods sold by merging firms. When two competitors in a product market merge, their products converge in quality, and prices fall relative to the competition. These... View Details

Keywords: Value Creation; Quality; Price; Goods and Commodities; Mergers and Acquisitions

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25 Apr 2014
News

Disrupting criminal enterprises that prey on children

Kayla Brochu (MBA/JD 1999) deployed business and legal strategies to combat some of the world's worst crimes as the United Nations Office on Drugs and Crime Expert on... View Details

October 2001 (Revised December 2001)
Background Note

Extraterritorial Applications of Antitrust Law: U.S. and Japanese Approaches

By: Guhan Subramanian and Michelle Kalka

This case describes the differebt approaches the United States and Japan have taken to extend the jurisdiction of their antitrust laws to foreign companies. The section on the United States, in particular, focuses on the evolving logic of the Supreme Court in dealing... View Details

Keywords: Laws and Statutes; Lawfulness; Government Legislation; Policy; Business or Company Management; Government and Politics; Pulp and Paper Industry; United States; Japan

Educators

17 Jan 2024
Research & Ideas

Are Companies Getting Away with 'Cheap Talk' on Climate Goals?

Companies regularly set ambitious climate goals, but these plans often end up like many people’s New Year’s resolutions: unmet aspirations that quietly fizzle out. While companies often gain positive media attention by trumpeting plans for reducing greenhouse gas... View Details

Keywords: by Tim Gray

16 Jun 2015
News

Is The Happiest Place On Earth Only For The Richest Kid In Town?

2014
Working Paper

Digital Discrimination: The Case of Airbnb.com

By: Benjamin Edelman and Michael Luca

Online marketplaces often contain information not only about products, but also about the people selling the products. In an effort to facilitate trust, many platforms encourage sellers to provide personal profiles and even to post pictures of themselves. However,... View Details

Keywords: Prejudice and Bias; Internet and the Web; Race; Trust; Renting or Rental; Accommodations Industry; Real Estate Industry

SSRN

07 Oct 2013
News

The Daily Circuit: Manufacturing may be on its way back

May 2016
Case

The Inexorable Rise of Walmart? 1988—2016

By: John R. Wells and Gabriel Ellsworth

In October 2015, Walmart surprised investors by announcing that it expected flat sales growth for 2015 and growth of only 3% to 4% over the coming three years. Profits would also fall due to significant investments in people and technology. The company’s stock price... View Details

Keywords: Asda; Costco; David Glass; Convenience Stores; Discount Retailing; Dollar Stores; Doug McMillon; E-commerce; Online Retail; General Merchandise; Grocery; Lee Scott; Mike Duke; Multichannel Retailing; Omnichannel; Neighborhood Market; Sam Walton; Sam's Club; Store Formats; Supercenter; Supermarket; Warehouse Clubs; Merchandising; Walmart; Wal-Mart; Globalized Firms and Management; Competitive Strategy; Corporate Strategy; Growth and Development Strategy; Business Units; Business Divisions; Business Growth and Maturation; Business Model; Business Organization; For-Profit Firms; Film Entertainment; Television Entertainment; Banks and Banking; Price; Profit; Revenue; Food; Global Range; Cross-Cultural and Cross-Border Issues; Global Strategy; Business History; Compensation and Benefits; Employees; Human Capital; Labor Unions; Wages; Business or Company Management; Goals and Objectives; Management Succession; Brands and Branding; Product Positioning; Distribution; Supply Chain; Supply Chain Management; Public Ownership; Problems and Challenges; Labor and Management Relations; Strategy; Adaptation; Business Strategy; Competition; Competitive Advantage; Diversification; Expansion; Segmentation; Information Technology; Internet; Mobile Technology; Online Technology; Web; Web Sites; Retail Industry; Food and Beverage Industry; Distribution Industry; Banking Industry; United States; Arkansas; Bentonville

Educators