Publications

Educators

1998
Book

The Multinational Traders

By: Geoffrey Jones

This book examines the history and theory of multinational trading companies. The essays in this volume demonstrate the importance of trading companies in trade and investment flows in the world economy from the nineteenth century to the present day. The empirical... View Details

Keywords: Company History; Trade; Globalization; Books; Organizational Structure; Perspective; Diversification; Theory; Asia; Europe; United States

23 Aug 2021
Research & Ideas

Why White-Collar Crime Spiked in America After 9/11

After the 9/11 terrorist attacks, the FBI shifted financial resources and hundreds of agents toward combatting terrorism, unintentionally weakening the agency’s ability to investigate white-collar crime in America, research shows. As a... View Details

Keywords: by Jay Fitzgerald

September 2004 (Revised January 2005)
Case

Brazil's WTO Cotton Case: Negotiation Through Litigation

By: Ray A. Goldberg, Robert Lawrence and J. Katherine Milligan

Brazil has just won a case action against the U.S. cotton agriculture program at the World Trade Organization. What does this mean for future agricultural programs in the United States? For future trade policies of the United States, Brazil, and others in the global... View Details

Keywords: Developing Countries and Economies; Trade; Globalized Markets and Industries; Governing Rules, Regulations, and Reforms; Policy; Lawsuits and Litigation; Negotiation Process; Negotiation Types; Agriculture and Agribusiness Industry; United States; Brazil

Educators

26 Mar 2025
News

Alumni Explore a Changing Hong Kong; Meet the Leader: HBS Club of Singapore

Conference Looks at Future of Hong Kong as a Global Leader The HBS Association of Hong Kong (HBSAHK) celebrated the club’s 45thanniversary in February, with its 2025 Signature Conference at Cloud 39, a rooftop ballroom at The Henderson skyscraper in central Hong Kong.... View Details

Keywords: Margie Kelley

September 2014
Article

Metropolitan Blueprints of Colonial Taxation? Lessons from Fiscal Capacity Building in British and French Africa, 1880-1940

By: Ewout Frankema and Marlous van Waijenburg

The historical and social science literature is divided about the importance of metropolitan blueprints of colonial rule for the development of colonial states. We exploit historical records of colonial state finances to explore the importance of metropolitan identity... View Details

Keywords: Colonial Administration; Quantitative Sources; Governance; Money; Taxation; Trade; History; Africa

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Article

Liquidity Provision and Stock Return Predictability

By: Mark Seasholes and Terrence Hendershott

This paper examines the trading behavior of two groups of liquidity providers (specialists and competing market makers) using a six-year panel of NYSE data. Trades of each group are negatively correlated with contemporaneous price changes. To test for return... View Details

Keywords: Liquidity; Market Makers; Market Efficiency; Inventory; Liquidity Provision; Market Design; Financial Liquidity; Stocks; Investment Return

Read Now

13 May 2021
News

How Two Classmates Began a Journey of Tackling the High Blood Sugar Epidemic

Keywords: Retail Trade; Retail Trade

31 Jan 2023
Research & Ideas

It’s Not All About Pay: College Grads Want Jobs That ‘Change the World’

Businesses seeking highly educated talent would do well to appeal to college graduates’ desire to “change the world.” And in doing so, they might change the world a little, too—by offering jobs that come with the unintended effect of... View Details

Keywords: by Rachel Layne

January 1999 (Revised March 1999)
Background Note

Note on Rules

By: Debora L. Spar

A central document for the Managing International Trade and Investment (MITI) course and its cases. Provides a conceptual framework for the course and a systematic way of analyzing the political circumstances that confront firms engaged in international trade and... View Details

Keywords: Trade; Government and Politics

Educators

08 Dec 2010
Working Paper Summaries

Decoding Inside Information

Keywords: by Lauren Cohen, Christopher Malloy & Lukasz Pomorski; Financial Services

2014
Working Paper

Islam, Inequality, and Pre-Industrial Comparative Development

By: Stelios Michalopoulos, Alireza Naghavi and Giovanni Prarolo

This study explores the interaction between trade and geography in shaping the Islamic economic doctrine and in turn the comparative development of the Muslim world. We build a model where an unequal distribution of land quality in presence of trade opportunities... View Details

Keywords: Islam; Inequality In Land Quality; Wealth Accumulation; Public Good Investment; Conflict; Wealth; Geography; Religion; Trade

Read Now

June 2012
Article

Decoding Inside Information

By: Lauren Cohen, Christopher Malloy and Lukasz Pomorski

Using a simple empirical strategy, we decode the information in insider trading. Exploiting the fact that insiders trade for a variety of reasons, we show that there is predictable, identifiable "routine" insider trading that is not informative for the future of firms.... View Details

Keywords: Strategy; Financial Markets; Forecasting and Prediction; Law Enforcement; Opportunities; Geographic Location; Business Earnings

SSRN

2024
Working Paper

The Golden Revolving Door

By: Ling Cen, Lauren Cohen, Jing Wu and Fan Zhang

Using both the onset of the US-China trade war in 2018 and the most recent Russia-Ukraine war and associated trade tensions, we show a counterintuitive pattern in global trade. Namely, while the average firm trading with these nations significantly decreases their... View Details

Keywords: Trade; Business and Government Relations; International Relations

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2018
Book

American Fair Trade: Proprietary Capitalism, Corporatism, and the 'New Competition,' 1890–1940

By: Laura Phillips Sawyer

American Fair Trade explores the contested political and legal meanings of the term fair trade from the late nineteenth century through the New Deal era. This history of American capitalism argues that business associations partnered with regulators to... View Details

Keywords: Economic Systems; Competition; Policy; Fairness; History; Governing Rules, Regulations, and Reforms; United States

08 Nov 2024
News

Latino Alumni Banquet Marks 20th Year, Atlanta Club Celebrates 90 Years of Connection

HBS Latino Alumni Association Banquet Marks 20 Years The HBS Latino Alumni Association (HBSLAA) held its 20th Annual Banquet on October 5, bringing together 80 alumni, guests, and current HBS students for dinner and a panel discussion at the New England Aquarium in... View Details

Keywords: Margie Kelley

American Fair Trade: Proprietary Capitalism, Corporatism, and the 'New Competition,' 1890-1940

American Fair Trade explores the contested political and legal meanings of the term fair trade from the late nineteenth century through the New Deal era. This history of American capitalism argues that business associations partnered with... View Details

October 2009
Supplement

Noble Group (CW)

By: C. Fritz Foley and Matthew Johnson

What role does trade finance play in facilitating global supply chain management? Richard S. Elman, founder and CEO of Noble Group Ltd., a global commodities trading company based in Hong Kong, must raise capital to support the firm's working capital and investment... View Details

Keywords: Risk Management; Supply Chain Management; Trade; Global Strategy; Investment; Capital; Hong Kong