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- All HBS Web (283)
- Faculty Publications (147)
Show Results For
- All HBS Web (283)
- Faculty Publications (147)
- 14 Mar 2013
- Working Paper Summaries
No Taxation without Information: Deterrence and Self-Enforcement in the Value Added Tax
Keywords: by Dina Pomeranz
- January 8, 2010
- Other Article
Multinational Firms, Agglomeration, and Global Networks
By: Laura Alfaro and Maggie Chen
Agglomeration effects are important but difficult to measure. This column uses a new database with precise geographical information to investigate the locational interdependence of multinational firms. Knowledge spillovers and capital- and labour-market externalities... View Details
Keywords: Geographic Location; Business Subsidiaries; Industry Clusters; Multinational Firms and Management; Network Effects
Alfaro, Laura, and Maggie Chen. "Multinational Firms, Agglomeration, and Global Networks." Vox, CEPR Policy Portal (January 8, 2010).
- 2024
- Working Paper
The Pay of Finance Professors
By: Claire Célérier, Boris Vallée and Alexey Vasilenko
This paper documents the existence of a significant wage finance premium in academia, and investigates its underlying mechanism. By exploiting an extensive dataset covering wages, publications and socio-demographics for 60,000 public-university faculty from all fields,... View Details
Célérier, Claire, Boris Vallée, and Alexey Vasilenko. "The Pay of Finance Professors." Working Paper, 2024.
Spatial Organization of Firms
We explore the impact of geographically bounded intra-firm spillovers (internal agglomeration economies) and geographically bounded inter-firm spillovers (external agglomeration economies) on firms’ location strategies. Using data from the Census Bureau’s Longitudinal... View Details
- 2024
- Working Paper
The Value of AI Innovations
By: Wilbur Xinyuan Chen, Terrence Tianshuo Shi and Suraj Srinivasan
We study the value of AI innovations as it diffuses across general and application sectors, using the United States Patent and Trademark Office’s (USPTO) AI patent dataset. Investors value these innovations more than others, as AI patents exhibit a 9% value premium,... View Details
Keywords: AI and Machine Learning; Valuation; Technological Innovation; Open Source Distribution; Patents; Policy; Knowledge Sharing; Technology Industry
Chen, Wilbur Xinyuan, Terrence Tianshuo Shi, and Suraj Srinivasan. "The Value of AI Innovations." Harvard Business School Working Paper, No. 24-069, May 2024.
- March 2013
- Case
Currency Wars
By: Laura Alfaro and Hilary White
In February 2013, the G-20 finance ministers met in Moscow, Russia to discuss the rising anxieties over a potential international currency war. It was speculated that certain countries were purposely devaluing their currencies in order to improve their competitiveness... View Details
Keywords: Currency; Competitiveness; Trade Policy; Devaluation; Exchange Rate; Monetary Policy; Quantitative Easing; Inflation Targeting; Capital Flows; Central Banking; Currency Exchange Rate; Competitive Strategy; Emerging Markets; Policy; Trade; Conflict and Resolution; Banking Industry; Public Administration Industry; Moscow
Alfaro, Laura, and Hilary White. "Currency Wars." Harvard Business School Case 713-074, March 2013.
- June 2014
- Article
Frictions in Shadow Banking: Evidence from the Lending Behavior of Money Market Funds
By: Sergey Chernenko and Adi Sunderam
We document the consequences of money market fund risk taking during the European sovereign debt crisis. Using a novel data set of security-level holdings of prime money market funds, we show that funds with large exposures to risky Eurozone banks suffered significant... View Details
Keywords: Money Market Mutual Funds; European Sovereign Debt Crisis; Runs; Contagion; Risk Taking; Investment Funds; Financial Crisis; Europe
Chernenko, Sergey, and Adi Sunderam. "Frictions in Shadow Banking: Evidence from the Lending Behavior of Money Market Funds." Review of Financial Studies 27, no. 6 (June 2014): 1717–1750.
- 2013
- Working Paper
Digital Dark Matter and the Economics of Apache
By: Shane Greenstein and Frank Nagle
Researchers have long hypothesized that spillovers from government, university, and private company R&D contribute to economic growth, but these contributions may be difficult to measure when they take a non-pecuniary form. The growth of networking devices and the... View Details
Keywords: Measurement and Metrics; Internet and the Web; Performance Productivity; Applications and Software; Economic Growth; Research and Development
Greenstein, Shane, and Frank Nagle. "Digital Dark Matter and the Economics of Apache." NBER Working Paper Series, No. 19507, October 2013.
California Management Review article wins 2007 Accenture Award
Greater job mobility among engineers and scientists has caused the extended social networks of inventors to become increasingly connected. Firms that operate within small worlds such as in Silicon Valley long ago learned to manage invention in an... View Details
- 2024
- Working Paper
The Wandering Scholars: Understanding the Heterogeneity of University Commercialization
By: Josh Lerner, Henry Manley, Carolyn Stein and Heidi Williams
University-based scientific research has long been argued to be a central source of
commercial innovation and economic growth. Yet at the same time, there have been
long-held concerns that many university-based discoveries never realize their potential
social... View Details
Lerner, Josh, Henry Manley, Carolyn Stein, and Heidi Williams. "The Wandering Scholars: Understanding the Heterogeneity of University Commercialization." Harvard Business School Working Paper, No. 24-043, January 2024. (Econometrica, Conditionally Accepted.)
- Research Summary
The Global Networks of Multinational Firms (with Maggie Chen)
By: Laura Alfaro
In this paper we characterize the topology of global multinational networks and examine the macro and micro patterns of multinational activity. We construct indices of network density at both pairwise industry and establishment level and measure agglomeration in a... View Details
- 2023
- Working Paper
Local Shocks and Internal Migration: The Disparate Effects of Robots and Chinese Imports in the U.S.
By: Marius Faber, Andres Sarto and Marco Tabellini
Do local labor markets adjust to economic shocks through migration? In this paper, we study this question by focusing on two of the most important shocks that hit U.S. manufacturing since the 1990s: Chinese import competition and the introduction of industrial robots.... View Details
Faber, Marius, Andres Sarto, and Marco Tabellini. "Local Shocks and Internal Migration: The Disparate Effects of Robots and Chinese Imports in the U.S." Harvard Business School Working Paper, No. 20-071, December 2019. (Revised February 2023. Also appears in HBS Working Knowledge. Longer NBER working paper version here. Revise and resubmit at the European Economic Review.)
- 16 Jul 2012
- Working Paper Summaries
Selection, Reallocation, and Spillover: Identifying the Sources of Gains from Multinational Production
Keywords: by Laura Alfaro & Maggie X. Chen
The Dynamic Advertising Effect of Collegiate Athletics
I measure the spillover effect of intercollegiate athletics on the quantity and quality of applicants to institutions of higher education in the United States, popularly known as the "Flutie Effect." I treat athletic success as a stock of goodwill that decays over... View Details
- 09 Apr 2025
- HBS Seminar
Marc Rysman, Boston University
- 13 Sep 2018
- HBS Seminar
Ashley Swanson, Wharton, University of Pennsylvania
U.S. Monetary Policy and Emerging Markets Credit Cycles
Foreign banks’ lending to firms in emerging market economies is large and denominated predominantly in U.S. dollars. This creates a direct connection between U.S. monetary policy and EME credit cycles. We estimate that over a typical U.S. monetary easing cycle, EME... View Details
- 2016
- Working Paper
Controlling Versus Enabling
By: Andrei Hagiu and Julian Wright
Revenue sharing between principals and agents is commonly used to balance double-sided moral hazard. We provide a theory of how, when such revenue-sharing is optimal, a principal allocates control rights over decisions that either party could make. We show that the... View Details
Keywords: Control Rights; Decision Authority; Employment; Independent Contractors; Organizational Theory; Digital Platforms; Governance Controls; Ethics; Vertical Integration
Hagiu, Andrei, and Julian Wright. "Controlling Versus Enabling." Harvard Business School Working Paper, No. 16-002, July 2015. (Revised July 2016.)
- Article
Corruption and Firms
By: Emanuele Colonnelli and Mounu Prem
We estimate the causal real economic effects of a randomized anti-corruption crackdown on local governments in Brazil using rich micro-data on corruption and firms. After anti-corruption audits, municipalities experience an increase in the number of firms concentrated... View Details
Colonnelli, Emanuele, and Mounu Prem. "Corruption and Firms." Review of Economic Studies 89, no. 2 (March 2022): 695–732.
- 2021
- Working Paper
Proxy Advisory Firms and Corporate Shareholder Engagement
By: Aiyesha Dey, Joshua White and Austin Starkweather
We examine the influence of proxy advisors on firms’ shareholder engagement behavior. Our analyses exploit a quasi-natural experiment using Say-On-Pay voting outcomes near a threshold that triggers a review of engagement activities by Institutional Shareholder Services... View Details
Keywords: Proxy Advisors; ISS; Shareholder Engagement; Disclosure; Business and Shareholder Relations; Executive Compensation; Corporate Disclosure
Dey, Aiyesha, Joshua White, and Austin Starkweather. "Proxy Advisory Firms and Corporate Shareholder Engagement." Harvard Business School Working Paper, No. 21-137, June 2021. (Revised February 2022.)