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August 2018
Article

Extrapolation and Bubbles

By: Nicholas Barberis, Robin Greenwood, Lawrence Jin and Andrei Shleifer

We present an extrapolative model of bubbles. In the model, many investors form their demand for a risky asset by weighing two signals: an average of the asset’s past price changes and the asset’s degree of overvaluation. The two signals are in conflict, and investors... View Details

Keywords: Bubble; Extrapolation; Volume; Price Bubble; Mathematical Methods

January 2017
Article

Beyond Zeroes and Ones: The Intensity and Dynamics of Civil Conflict

By: Stephen Chaudoin, Zachary Peskowitz and Christopher Stanton

There is a tremendous amount of variation in conflict intensity both across and within civil conflicts. Some conflicts result in huge numbers of battle deaths, while others do not. Conflict intensity is also dynamic. Conflict intensity escalates, deescalates, and... View Details

Keywords: Civil Wars; Political Economy; Conflict; Trade Interdependence; War; Microeconomics

March 2015
Article

Vulnerable Banks

By: Robin Greenwood, Augustin Landier and David Thesmar

We present a model in which fire sales propagate shocks across bank balance sheets. When a bank experiences a negative shock to its equity, a natural way to return to target leverage is to sell assets. If potential buyers are limited, then asset sales depress prices,... View Details

Keywords: Financial Liquidity; Financial Crisis; Banks and Banking; Banking Industry; Europe

July 2014
Article

Accounting for Crises

By: Venky Nagar and Gwen Yu

We provide among the first empirical evidence consistent with recent macro global-game crisis models, which show that the precision of public signals can coordinate crises (e.g., Angeletos and Werning, 2006; Morris and Shin, 2002, 2003). In these models,... View Details

Keywords: Corporate Disclosure; Mathematical Methods; Game Theory; Financial Markets; Forecasting and Prediction; Accounting; Financial Crisis

SSRN

06 Apr 2017
HBS Seminar

Arkadiy Sakhartov, Wharton, University of Pennsylvania

Dealmaking

Informed by meticulous research, field experience, and classroom-tested strategies, Dealmaking offers essential insights for anyone involved in buying or selling everything from cars to corporations. Leading business scholar Guhan Subramanian provides a lively... View Details

03 Oct 2018
HBS Seminar

Chad Syverson, University of Chicago Booth School of Business

Forthcoming
Article

Antitrust Platform Regulation and Entrepreneurship: Evidence from China

By: Ke Rong, D. Daniel Sokol, Di Zhou and Feng Zhu

Many jurisdictions have launched antitrust enforcement and brought in regulation of large tech platforms. The swift and strict implementation of China’s Anti-Monopoly Guidelines for the Platform Economy (Platform Guidelines) provides a quasi-natural experiment... View Details

Keywords: Platform; Antitrust; Regulation; Entrepreneurship; Venture Capital; Governing Rules, Regulations, and Reforms; Competition; Market Entry and Exit; Supply and Industry; China

November 2024
Article

Perceptions About Monetary Policy

By: Michael D. Bauer, Carolin Pflueger and Adi Sunderam

We estimate perceptions about the Federal Reserve’s monetary policy rule from panel data on professional forecasts of interest rates and macroeconomic conditions. The perceived dependence of the federal funds rate on economic conditions varies substantially over time,... View Details

Keywords: Monetary Policy; Policy; Interest Rates; Perception; Economy; Forecasting and Prediction

Summer, 2021
Article

The Economics of Energy Efficiency in Developing Countries

By: Meredith Fowlie and Robyn C. Meeks

Almost all of the world’s energy demand growth is projected to occur in low- and medium-income countries (LMICs). Targeted energy efficiency investments have the potential to mitigate tensions between economic growth objectives and sustainable development commitments.... View Details

Keywords: Developing Countries and Economies; Energy; Energy Policy

April 19, 2018
Article

4 Ways to Improve Your Content Marketing

By: Frank V. Cespedes and Russ Heddleston

In the past decade, content marketing has become a widely established practice. Companies have hired writers and chief content officers to run departments as well as create blogs and other materials—in the process, some have assured sales people that content marketing... View Details

Keywords: Marketing; Marketing Communications; Sales; Performance Improvement

Register to Read

2014
Chapter

Mergers and Acquisitions and Innovation

By: Gautam Ahuja and Elena Novelli

This article (a) identifies the different theoretical perspectives and abstractions used to conceptualize the M&A–Innovation relationship; (b) reviews the literature on antecedents, consequences, and integration of M&A in the context of innovation; and (c) identifies... View Details

Keywords: Mergers; Acquisitions; Innovation; Knowledge-bases; Knowledge; Mergers and Acquisitions; Innovation and Invention

Purchase

2011
Working Paper

Inside the Black Box of the Corporate Staff: An Exploratory Analysis Through the Lens of E-Mail Networks

The corporate staff is central in theories of the multi-business firm, but empirical evidence on its function is limited. In this paper, we examine the high-level role of two units of a corporate staff through analysis of electronic communications. We find sharp... View Details

Keywords: Theory; Business Ventures; Internet and the Web; Communication; Employment; Management Teams; Networks