Publications

May 1999 (Revised December 2003)
Case

European Monetary Union

By: Richard H.K. Vietor and Sabina M. Ciminero

On January 1, 1999, 11 European countries unified their currencies--48 years after their first integrative efforts. This marks a huge development in the structure of Europe and the world's economy. This case examines the integrative process, the Single Europe Act and... View Details

Keywords: Money; Currency; Globalized Economies and Regions; Markets; International Relations; Alliances; System; Integration; Macroeconomics; Business and Government Relations; European Union

February 2010
Article

Input Constraints and the Efficiency of Entry: Lessons from Cardiac Surgery

By: David M. Cutler, Robert S. Huckman and Jonathan T. Kolstad

Prior studies suggest that, with elastically supplied inputs, free entry may lead to an inefficiently high number of firms in equilibrium. Under input scarcity, however, the welfare loss from free entry is reduced. Further, free entry may increase use of high-quality... View Details

Keywords: Government Legislation; Health Care and Treatment; Medical Specialties; Market Entry and Exit; Welfare; Health Industry; Pennsylvania

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December 2016 (Revised December 2018)
Case

From Start-Up to Grown-Up Nation: The Future of the Israeli Innovation Ecosystem

By: Elie Ofek and Margot Eiran

In June 2016, Benjamin (Bibi) Netanyahu, Prime Minister of Israel, wrestled with how to sustain Israel’s strong innovation track record and the country’s reputation as the “startup nation.” Despite the economic miracle the country had wrought since its founding, he... View Details

May 2008
Article

Regulation and Bonding: The Sarbanes-Oxley Act and the Flow of International Listings

By: Suraj Srinivasan and Joseph Piotroski

In this paper, we examine the economic impact of the Sarbanes-Oxley Act (SOX) by analyzing foreign listing behavior onto U.S. and U.K. stock exchanges before and after the enactment of the Act in 2002. Using a sample of all listing events onto U.S. and U.K. exchanges... View Details

Keywords: Decision Choices and Conditions; Stocks; Government Legislation; Market Transactions; Motivation and Incentives; United Kingdom; United States

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January 2001
Background Note

Country Analysis in a "Global Village"

By: Bruce R. Scott

Substantially rewritten to establish the relevance of countries in the global context. It does so in terms of their differing economic performance in recent decades, and also by contrasting those that have "converged" toward the rich country norm (as theory would... View Details

Keywords: Globalized Economies and Regions; Macroeconomics; Trade; Business Strategy; Performance Evaluation; Industry Growth; Currency; Policy; Development Economics

2024
Article

Half the Firms, Double the Profits: Public Firms' Transformation, 1996–2022

By: Mark J. Roe and Charles C.Y. Wang

The number of public firms in the United States has halved since the beginning of the twenty-first century, causing consternation among corporate and securities law regulators. The dominant explanations, often advanced by Securities and Exchange commissioners when... View Details

Keywords: Corporate Law; Securities Regulation; Sarbanes-Oxley Act; Concentration Levels; Antitrust; Initial Public Offering; Public Ownership; Private Equity; Venture Capital; Mergers and Acquisitions; Monopoly; United States

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Social Enterprise - Faculty & Research

strategically respond to government signals regarding appropriate corporate activity. We integrate institutional theory and research on corporate political strategy to develop a political dependence model... View Details

2025
Working Paper

Tax Planning, Illiquidity, and Credit Risks: Evidence from DeFi Lending

By: Lisa De Simone, Peiyi Jin and Daniel Rabetti

This study establishes a plausible causal link between tax-planning-induced illiquidity and credit risks in lending markets. Exploiting an exogenous tax shock imposed by the Internal Revenue Service (IRS) on cryptocurrency gains, along with millions of transactions in... View Details

Keywords: Cryptocurrency; Taxation; Financial Liquidity; Credit; Financing and Loans; Financial Markets

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April 2006 (Revised October 2006)
Case

Chrysanthemum and Dragon: JAFCO Asia in China

By: Rawi E. Abdelal and David Lane

In the autumn of 2002, JAFCO Asia, a subsidiary of JAFCO Co., Ltd., became the first foreign private equity firm to open an office in Beijing's Haidian Science Park. JAFCO was the only Japanese private equity firm operating in China. As such, Managing Director Vincent... View Details

Keywords: History; International Relations; Business and Shareholder Relations; Business and Government Relations; Expansion; Market Entry and Exit; Performance Effectiveness; Foreign Direct Investment; Business Strategy; Financial Services Industry; China; Beijing; Japan

January 2016
Case

Haiti Hope: Innovating the Mango Value Chain

By: Amy C. Edmondson and Jean-François Harvey

This case study examines a market-based approach to economic development through the eyes of NGO TechnoServe's project manager, implementing a US$9.5 million five-year public-private partnership between Coca-Cola, IDB, and USAID. The case ends at the beginning of the... View Details