Publications
Publications
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(2,618)
- Faculty Publications (489)
- December 2023
- Case
Davivienda Bank's Upskilling and Reskilling Strategy in Colombia
By: Jorge Tamayo, Raffaella Sadun and Jenyfeer Martinez Buitrago
Set in 2022, this case describes the digital transformation strategy of Davivienda— a leading player in Colombia’s commercial banking and one of the companies belonging to Grupo Bolívar, a major Colombian financial conglomerate—and the bank’s upskilling and reskilling... View Details
Keywords: Change Management; Transformation; Decision Choices and Conditions; Digital Strategy; Digital Transformation; Internet and the Web; Mobile and Wireless Technology; Innovation and Management; Innovation Strategy; Growth and Development Strategy; Business Strategy; Corporate Strategy; Organizational Culture; Talent and Talent Management; Training; Banking Industry; Latin America; Central America; South America; Colombia
- December 2023
- Article
When Should the Off-Grid Sun Shine at Night? Optimum Renewable Generation and Energy Storage Investments
By: Christian Kaps, Simone Marinesi and Serguei Netessine
Globally, 1.5 billion people live off the grid, their only access to electricity often limited to operationally-expensive fossil fuel generators. Solar power has risen as a sustainable and less costly option, but its generation is variable during the day and... View Details
- November 2023 (Revised January 2024)
- Case
Votorantim: Uniting Family and Business Across Generations
By: Christina R. Wing, Carla Larangeira and Pedro Levindo
Over a 105-year span, the Ermírio de Moraes family built Votorantim, one of Latin America’s largest industrial conglomerates, and among Brazil’s topmost businesses, also credited for helping “build” the country over decades. By early 2023, Votorantim included... View Details
- November 2023
- Article
A Quantity-Driven Theory of Term Premia and Exchange Rates
We develop a model in which specialized bond investors must absorb shocks to the supply and demand for long-term bonds in two currencies. Since long-term bonds and foreign exchange are both exposed to unexpected movements in short-term interest rates, a shift in the... View Details
- 2023
- Working Paper
The Buy-In Effect: When Increasing Initial Effort Motivates Behavioral Follow-Through
By: Holly Dykstra, Shibeal O'Flaherty and A.V. Whillans
Behavioral interventions often focus on reducing friction to encourage behavior change. In
contrast, we provide evidence that adding friction can promote long-term behavior change when
behaviors involve repeated costly efforts over longer time horizons. In... View Details
- 2023
- Working Paper
Interest-Rate Risk and Household Portfolios
By: Sylvain Catherine, Max Miller, James Paron and Natasha Sarin
How are households exposed to interest-rate risk? When rates fall, households face lower future expected returns but those holding long-term assets—disproportionately the wealthy and middle-aged—experience capital gains. We study the hedging demand for long-term assets... View Details
- September 2023 (Revised October 2023)
- Case
Mohamed Salah
By: Anita Elberse and Taher El Moataz Bellah
In June 2022, Mohamed Salah, one of the world’s best soccer players, and his lawyer and advisor Ramy Abbas Issa were in ongoing discussions with top English Premier League club Liverpool FC about a new playing contract for Salah. Arguably the Arab world’s biggest... View Details
- 2023
- Working Paper
The Stock Market and Bank Risk-Taking
By: David S. Scharfstein and Antonio Falato
Using confidential supervisory risk ratings, we document that banks increase risk after they go public compared to a control group of banks that filed to go public but withdrew their filings for plausibly exogenous reasons. The increase in risk increases short-term... View Details
- 2023
- Working Paper
Corporate Leaders Say They Are for Stakeholder Capitalism—But Which Version Exactly?: A Critical Look at Four Varieties
By: Lynn S. Paine
The past few years have seen an outpouring of articles and statements heralding the
arrival of a new and more inclusive form of capitalism often called stakeholder capitalism. The
new capitalism promises to strengthen companies, improve outcomes for their... View Details
- July 2023 (Revised February 2024)
- Case
Clair
By: Lauren Cohen, Grace Headinger and Marcos Quirno
Clair was founded with a simple mission: to expedite America’s workers access to their hard-earned wages. In the headwinds of the COVID-19 pandemic, the startup had successfully raised a seed round of $4.5 million, and within two years the earned wage access (EWA)... View Details
- June 2023 (Revised January 2024)
- Case
Chipmaking in the Desert: Taiwan Semiconductor Manufacturing Company's Global Expansion
By: William C. Kirby and Noah B. Truwit
On December 6, 2022, in Phoenix, Arizona, Taiwan Semiconductor Manufacturing Company (TSMC) Executive Chairman Mark Liu outlined the company’s ambitious plans to invest $40 billion to build semiconductor manufacturing plants in Phoenix. The event also celebrated the... View Details
- March 2023 (Revised June 2023)
- Case
Layoffs in the Tech Industry: 2022–2023
By: Sandra J. Sucher and Marilyn Morgan Westner
This case examines the mass layoffs that swept through the tech industry (2022-2023) through the lens of four companies: Twitter, Stripe, Meta, and Google. How these companies implemented workforce change through mass layoffs raises critical questions applicable beyond... View Details
- 2023
- Article
Bridging the Gap with the ‘New’ Economic History of Africa
By: Ewout Frankema and Marlous van Waijenburg
This review article seeks to build bridges between mainstream African history and the more historically oriented branch of the ‘new’ economic history of Africa. We survey four central topics of the new economic history of Africa—growth, trade, labor, and inequality—and... View Details
Keywords: Economic Growth; Trade; Labor; Equality and Inequality; Development Economics; History; Africa
- February 2023 (Revised March 2023)
- Case
Twitter Turnaround and Elon Musk
By: Andy Wu and Goran Calic
Late afternoon on Friday, October 27th, 2022, Elon Musk was the center of attention at Twitter’s San Francisco headquarters. The night before, Musk officially took the company private and became Twitter’s majority shareholder, finally ending a months-long acquisition... View Details
- February 2023 (Revised May 2023)
- Case
CalPERS Private Equity 2.0
By: Josh Lerner, John D. Dionne and Alys Ferragamo
Yup Kim, the Head of Investments, Private Equity at the California Public Employees’ Retirement System (CalPERS), reflected on the pension fund’s private equity strategy. In July of 2022, the fund was in the midst of a multi-year turnaround strategy with the goal to... View Details
- February 2023
- Case
Grupo Sancor Seguros: Facing the Digital Transformation of Insurance in Argentina (A)
By: Jorge Tamayo and Jenyfeer Martínez Buitrago
In 2020, Alejandro Simón, CEO of Sancor Seguros Group, a nearly 75-year-old cooperative that had become Argentina’s insurance leader, had to decide about the Group’s digital transformation strategy. The Group’s values and history needed to be considered during the... View Details
- February 2023
- Case
All Options on the Table: The Haber Family
By: Lauren Cohen, Grace Headinger and Juan Ruiz
Frida Jassan Haber, second-generation Chief Financial Officer of Haber Holdings, deliberated over the right family office solution for their family’s needs. After years of working with trusted private bankers, the family had decided to pursue other options that offered... View Details
- 2023
- Working Paper
Life After Death: A Field Experiment with Small Businesses on Information Frictions, Stigma, and Bankruptcy
By: Shai Benjamin Bernstein, Emanuele Colonnelli, Mitchell Hoffman and Benjamin Iverson
In a randomized control trial (RCT) with U.S. small businesses, we document that a large share of firms are not well-informed about bankruptcy. Many assume that bankruptcy necessarily entails the death of a business and do not know about Chapter 11 bankruptcy, where... View Details
- December 2022
- Case
To Feed the Planet: Juan Luciano at ADM
By: Joshua D. Margolis, David E. Bell, Damien McLoughlin, Stacy Straaberg and James Weber
In December 2022, Juan Luciano, Chairman and CEO of agribusiness and nutrition giant ADM, considered the next phase of the historic company’s future. Beginning in 2011 when he joined as COO and moving into his tenure as CEO in 2015, Luciano led a transformation of ADM... View Details
Keywords: Agriculture; Leadership; Agribusiness; Acquisition; Business Units; Customer Focus and Relationships; Customer Value and Value Chain; Forecasting and Prediction; Capital; Cash; Cost of Capital; Cost Management; Profit; Food; Global Range; Innovation Strategy; Leadership Development; Leadership Style; Leading Change; Growth and Development Strategy; Risk Management; Organizational Culture; Organizational Structure; Strategic Planning; Risk and Uncertainty; Adaptation; Business Strategy; Corporate Strategy; Vertical Integration; Value Creation; Transformation; Agriculture and Agribusiness Industry; Energy Industry; United States; Chicago
- 2022
- Article
Becoming a Learning Organization While Enhancing Performance: The Case of LEGO
By: Thomas Borup Kristensen, Henrik Saabye and Amy Edmondson
Purpose - The purpose of this study is to empirically test how problem-solving lean practices, along with
leaders as learning facilitators in an action learning approach, can be transferred from a production context to a
knowledge work context for the purpose... View Details