Publications

2010
Working Paper

The Unbundling of Advertising Agency Services: An Economic Analysis

By: Mohammad Arzaghi, Ernst R. Berndt, James C. Davis and Alvin J. Silk

We address a longstanding puzzle surrounding the unbundling of services occurring over several decades in the U.S. advertising agency industry: What accounts for the shift from bundling to unbundling of services and the slow pace of change? Using Evans and Salinger's... View Details

Keywords: Advertising; Change; Forecasting and Prediction; Cost; Price; Analytics and Data Science; Surveys; Marketing Strategy; Media; Service Operations; Agency Theory; Mathematical Methods; Advertising Industry; United States

Other Article

Introduction

By: Stefano Brusoni, Joachim Henkel, Michael G Jacobides, Samina Karim, Alan MacCormack, Phanish Puranam and Melissa Schilling

In 2000, Carliss Baldwin and Kim Clark published Design Rules: The Power of Modularity, a book that introduced new ways of understanding and explaining the architecture of complex systems. This Special Issue of Industrial and Corporate Change celebrates... View Details

Keywords: Complex Systems; Industry Structure; Systems Design; Complexity; Organizational Design; Competitive Strategy; Innovation and Management

2017
Working Paper

Equality and Equity in Compensation

By: Jiayi Bao and Andy Wu

Equity compensation is widely used for incentivizing skilled employees, particularly in new technology businesses. Traditional theories explaining why firms offer equity suggest that workers with higher rank should receive compensation packages more heavily weighted in... View Details

Keywords: Inequality Aversion; Compensation; Stock Options; Scarcity; Experiment; Compensation and Benefits; Equity; Equality and Inequality; Perception

21 Sep 2007
Working Paper Summaries

Intra-Industry Foreign Direct Investment

Keywords: by Laura Alfaro & Andrew Charlton

12 Jul 2007
Working Paper Summaries

Toward a Theory of Behavioral Operations

Keywords: by Francesca Gino & Gary Pisano

2025
Working Paper

Street Earnings: Implications for Asset Pricing

By: Sebastian Hillenbrand and Odhrain McCarthy

To address the excess volatility puzzle – the excessive movements in stock prices – researchers often study movements in valuation ratios. However, we demonstrate that movements in valuation ratios based on fundamental measures with high transitory volatility, such as... View Details

Keywords: Investment Return; Asset Pricing; Valuation; Measurement and Metrics; Stocks

SSRN

2017
Article

Refugees Misdirected: How Information, Misinformation and Rumors Shape Refugees’ Access to Fundamental Rights

By: Melissa Carlson, Laura Jakli and Katerina Linos

The global refugee regime represents one of the few generous commitments governments offer to outsiders. Indeed, few persons fleeing armed conflict actually claim international protection upon first arriving in Europe, even though the benefits of legal protection are... View Details

Keywords: Refugees; Knowledge Dissemination; Trust; Risk and Uncertainty; Rights; Europe

March 2015
Article

Signaling to Partially Informed Investors in the Newsvendor Model

By: William Schmidt, Vishal Gaur, Richard Lai and Ananth Raman

We investigate a puzzling phenomenon in which firms make investment decisions that purposefully do not maximize expected profits. Using an extension to the newsvendor model, we focus on a relatively common scenario in which the firm's investor has imperfect information... View Details

Keywords: Decision Choices and Conditions; Investment

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May 2025
Teaching Note

The VideaHealth AI Factory: CEO Florian Hillen on Speed, Scale, and Innovation

By: Tsedal Neeley

Teaching Note for HBS Case No. 425-720. Florian Hillen, co-founder and CEO of VideaHealth, a startup using artificial intelligence (AI) to detect dental conditions on x-rays, spent the early years of his company laying the groundwork for an AI factory. This AI factory,... View Details

Keywords: Diagnostics; Organization Design; Change Management; Disruption; Transformation; Health Care and Treatment; AI and Machine Learning; Technological Innovation; Technology Adoption; Management Style; Organizational Culture; Success; Technology Industry; Health Industry; United States

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13 Jan 2009
First Look

First Look: January 13, 2009

Chinese negotiating style and bring about mutually beneficial results is to better understand the key elements of Chinese culture to which Chinese negotiators attune their business mentality and manners. Download the paper: http://www.hbs.edu/research/pdf/09-076.pdf... View Details

Keywords: Martha Lagace

January 2025
Supplement

The VideaHealth AI Factory: CEO Florian Hillen on Speed, Scale, and Innovation (B)

By: Tsedal Neeley, Levi Stroud, Ruth Page and Dave Habeeb

Pre-abstract: This multimedia case should be assigned to students in advance of class. Instructors should consider the timing of making the (B) Case videos available to students, as they may reveal key case details.

Abstract: Florian Hillen, co-founder... View Details

Keywords: Diagnostics; Organization Design; Change Management; Disruption; Transformation; Health Care and Treatment; AI and Machine Learning; Technology Adoption; Technological Innovation; Management Style; Organizational Culture; Success; Technology Industry; Health Industry; United States

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January 2025
Case

The VideaHealth AI Factory: CEO Florian Hillen on Speed, Scale, and Innovation (A)

By: Tsedal Neeley, Levi Stroud, Ruth Page and Dave Habeeb

Pre-abstract: This multimedia case should be assigned to students in advance of class. Instructors should consider the timing of making the (B) Case videos available to students, as they may reveal key case details.

Abstract: Florian Hillen, co-founder... View Details

Keywords: Diagnostics; Organization Design; Change Management; Disruption; Transformation; Health Care and Treatment; AI and Machine Learning; Technology Adoption; Technological Innovation; Management Style; Organizational Culture; Success; Technology Industry; Health Industry; United States

Educators

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June 2007
Article

Does Employment Protection Reduce Productivity? Evidence from U.S. States

By: David H Autor, William R. Kerr and Adriana D. Kugler

Theory predicts that mandated employment protections may reduce productivity by distorting production choices. Firms facing (non-Coasean) worker dismissal costs will curtail hiring below efficient levels and retain unproductive workers, both of which should affect... View Details

Keywords: Theory; Production; Selection and Staffing; Cost; Employment; Capital; Performance Productivity; United States

Article

The Profits of Power: Commerce and Realpolitik in Eurasia

By: Rawi Abdelal

Although the energy trade is the single most important element of nearly all European countries' relations with Russia, Europe has been divided by both worldview and practice. Why, in the face of the common challenge of dependence on imported Russian gas, have national... View Details

Keywords: Performance; Cross-Cultural and Cross-Border Issues; Globalized Firms and Management; Profit; Framework; Corporate Strategy; Innovation and Invention; Policy; Decision Choices and Conditions; Crisis Management; Government and Politics; Energy Industry; Europe; Russia; France; Germany; Italy

2019
Working Paper

The Impact of Professionals' Contributions to Online Knowledge Communities on Their Workplace Knowledge Work

By: Hila Lifshitz - Assaf and Frank Nagle

Knowledge work is becoming increasingly challenging as pace of change in the knowledge frontier is increasing. Organizations have created multiple mechanisms to minimize knowledge gaps and increase learning such internal training, mentorship programs as well as... View Details

Keywords: Open Source; Future Of Work; Software Development; Knowledge Work; Online Community; Learning; Knowledge Sharing; Applications and Software; Open Source Distribution; Performance Productivity

August 2021
Article

Rate-Amplifying Demand and the Excess Sensitivity of Long-Term Rates

By: Samuel G. Hanson, David O. Lucca and Jonathan H. Wright

Long-term nominal interest rates are surprisingly sensitive to high-frequency (daily or monthly) movements in short-term rates. Since 2000, this high-frequency sensitivity has grown even stronger in U.S. data. By contrast, the association between low-frequency changes... View Details

Keywords: Conundrum; Investor Demand; Monetary Policy Transmission; Interest Rates

12 Jun 2007
Working Paper Summaries

Public Action for Public Goods

Keywords: by Abhijit Banerjee, Lakshmi Iyer & Rohini Somanathan

2008
Working Paper

Economic Factors Underlying the Unbundling of Advertising Agency Services

By: Mohammad Arzaghi, Ernst R. Berndt, James C. Davis and Alvin J. Silk

This paper addresses a longstanding puzzle involving the unbundling of services that has occurredover more than two decades in the U.S. advertising agency industry: How can the shift from the bundling to the unbundling of services be explained and what accounts for the... View Details

Keywords: Transformation; Framework; Service Operations; Decisions; Relationships; Price; Diversification; Geography; Cost; Advertising Industry; United States