Publications

November 2018
Supplement

Corruption and Business in Emerging Markets

By: Geoffrey Jones

April 2012
Case

Novozymes: Cracking the Emerging Markets Code

By: Krishna G. Palepu and Karol Misztal

In 2011, the management of Novozymes, the industrial enzymes leader, reflected on the viability of their positioning in the fast growing, yet increasingly competitive Chinese market. Novozymes, a technological innovation pioneer, was prominent in China's premium enzyme... View Details

October 2010
Article

The Emerging Capital Market for Nonprofits

By: Robert S. Kaplan and Allen S. Grossman

Many of our largest and most successful companies today did not exist 50 years ago. During this same time interval, companies that ranked among top in the 1960s have disappeared, been merged out of existence, or become much smaller presences in the U.S. industrial... View Details

Keywords: Capital Markets; Investment Funds; Philanthropy and Charitable Giving; Corporate Accountability; Management Practices and Processes; Infrastructure; Corporate Social Responsibility and Impact; Performance Effectiveness; Nonprofit Organizations

2019
Chapter

International Business and Emerging Markets in Historical Perspective

By: Geoffrey Jones

This chapter examines international business in emerging markets over the long run. It shows how the strategies of Western multinationals evolved over time. In the first era of globalization in the 19th century, Western firms sought access to resources, and they faced... View Details

Keywords: Emerging Markets; Business History; Multinational Firms and Management; Globalization

April 2019 (Revised June 2019)
Teaching Plan

Innovation and Business in Emerging Markets

By: Geoffrey Jones, Tarun Khanna, Nataliya Langburd Wright and Morgan Spencer

Teaching Plan for HBS No. 319-110. View Details

December 2002
Article

The Persistence of Emerging Market Equity Flows

By: K. A. Froot and J. Donohue

Keywords: Asset Pricing; Equity Investment; Forecasting and Prediction; Behavioral Finance; Stocks; Investment Return; Market Transactions; Performance Expectations; Financial Services Industry

August 2012 (Revised March 2014)
Technical Note

4M: Four-Markets Analysis for Emerging Economies

By: Eric Werker

This technical note describes a methodology for evaluating the political economy of business-government relations in an emerging or frontier economy. The note argues that there are not one but four markets in an emerging economy: the market of "rentiers" such as mining... View Details

Keywords: Frontier Markets; Emerging Markets

Article

Does the Law and Finance Hypothesis Pass the Test of History?

By: Aldo Musacchio and John D. Turner

For the body of work known as the law and finance literature, the development of financial markets and the concentration of ownership across countries is to a large extent the consequence of the legal system nations created or inherited decades or hundreds of years... View Details

Keywords: Finance; Business History; Financial Markets; Financial History; Business and Shareholder Relations; Law; Financial Services Industry; United States; United Kingdom; Brazil

Article

Time-Driven Activity-Based Costing in Emergency Medicine

By: Robert S. Kaplan, Brian J. Yun, Anand M. Prabhakar, Jonathan Warsh, John Brennan, Kyle E. Dempsey and Ali S. Raja

Value in emergency medicine is determined by both patient-important outcomes and the costs associated with achieving them. However, measuring true costs is challenging. Without an understanding of costs, emergency department (ED) leaders will be unable to determine... View Details

Keywords: Time-Driven Activity-Based Costing; Emergency Room; Health Care and Treatment; Value; Cost Management; Activity Based Costing and Management

Read Now

November 2008
Article

Winning the Race for Talent in Emerging Markets

By: Douglas A. Ready, Linda A. Hill and Jay A. Conger

"This war for talent is like nothing we've ever seen before," write the authors, who have spent decades studying talent management and leadership development. Recently they interviewed executives at more than 20 global companies to identify strategies for attracting... View Details

Keywords: Leadership Development; Selection and Staffing; Talent and Talent Management; Multinational Firms and Management; Organizational Culture; Recruitment; Diversity; Developing Countries and Economies

September 2009
Supplement

One South: Investing in Emerging Markets (B)

By: Nicolas P. Retsinas and Justin Seth Ginsburgh

A United States private equity fund, The Saboput Group, must decide whether to invest in a new technology park development in Chennai, India. The B case provides the reader with due diligence observations, which reveal numerous potential problems with the investment.... View Details

Keywords: Decisions; Private Equity; Investment; Foreign Direct Investment; Markets; Emerging Markets; Problems and Challenges; Partners and Partnerships; Valuation; Real Estate Industry; Chennai; United States

Research Summary

Corporate Debt, Firm Size and Financial Fragility in Emerging Markets

By: Laura Alfaro

The post-Global Financial Crisis period shows a surge in corporate leverage in emerging markets and a number of countries with deteriorated corporate financial fragility indicators (Altman’s Z-score). Firm size plays a critical role in the relationship between... View Details

September 2009
Case

One South: Investing in Emerging Markets (A)

By: Nicolas P. Retsinas and Justin Seth Ginsburgh

A United States private equity fund, The Saboput Group, must decide whether to invest in a new technology park development in Chennai, India. The case provides the reader with a detailed investment memorandum from the local Indian operating partner, and the reader must... View Details

Keywords: Private Equity; Investment; Emerging Markets; Partners and Partnerships; Urban Development; Real Estate Industry; Chennai; United States

June 2015
Teaching Note

Ethiopia: An Emerging Market Opportunity? (Brief Case)

By: John A. Quelch and Sunru Yong

May 2018 (Revised July 2018)
Supplement

EY China (B): An Emerging Giant

By: Ashish Nanda, Das Narayandas and Lisa Rohrer

The case outlines how regional managing partner (RMP) Albert Ng steered Ernst & Young (EY) China through a period of significant growth from 2009, when it was the smallest of the Big Four firms in China, to 2017, by when it had become the second largest firm. Partners... View Details

Keywords: Professional Services; International Management; Big Four; Strategy And Execution; Emerging Market; Strategy; Growth Management; Leadership; Global Range; Emerging Markets; Competitive Strategy; Accounting Industry; China

December 2015
Case

Nextel Peru: Emerging Market Cost of Capital

By: Luis M. Viceira and Joel L. Heilprin

December 2020
Case

XP: Dual Track Financing Alternatives

By: Marco Di Maggio, Pedro Levindo and Carla Larangeira

XP, an investment platform, was on the verge of defining whether to do an IPO or selling off a majority stake to Itaú Unibanco, Brazil´s largest financial conglomerate. Under the leadership of Guilherme Benchimol, XP´s co-founder and CEO, XP had risen to become the... View Details

Keywords: Financing Decisions; Expansion; Decision Choices and Conditions; Latin America; Brazil