Publications

2010
Mimeo

An Analysis of the Impact of 'Substantially Heightened' Capital Requirements on Large Financial Institutions

By: Anil Kashyap, Jeremy C. Stein and Samuel G. Hanson

We examine the impact of "substantially heightened" capital requirements on large financial institutions, and on their customers. Our analysis yields three main conclusions. First, the frictions associated with raising new external equity finance are likely to be... View Details

Keywords: Financial Institutions; Governing Rules, Regulations, and Reforms; Capital; Equity; Financing and Loans; Credit

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2011
Other Unpublished Work

Medium and Message: The Role of the Media in Establishing Institutional Logics

By: Mukti Khaire and Erika Richardson

Research on industry institutional logics has provided insights into the factors that influence organizational behavior and actions. However, we still lack a detailed understanding of how industry logics emerge from societal-level values, get disseminated, and become... View Details

Keywords: Entrepreneurship; Values and Beliefs; Governing Rules, Regulations, and Reforms; Media; Organizations; Behavior; Societal Protocols; Fashion Industry; India

August 2008 (Revised September 2008)
Case

The Flaxil Label (B)

This case focuses on the 2001 negotiation between Mytex Pharmaceuticals and the U.S. Food and Drug Administration (FDA). The outcome of the negotiation would determine the new label for Mytex's blockbuster drug for arthritis, Flaxil. The negotiation is quite... View Details

Keywords: Governance; Risk and Uncertainty; Value Creation; Negotiation; Attitudes; Health Care and Treatment; Government Administration; Pharmaceutical Industry; United States

September 2000
Case

MBA In Jeopardy (A)

By: Lynn S. Paine, Gagan Gupta and Phani K. Nagarjuna

The Community Standards Panel of Harvard Business School must determine whether two students have violated the school's community standards, and if so, what sanction would be appropriate. Concerns allegations of plagiarism. In a second-year elective course, two... View Details

Keywords: Moral Sensibility; Business Education; Learning; Cross-Cultural and Cross-Border Issues; Governing Rules, Regulations, and Reforms; Education Industry

March 2015 (Revised February 2017)
Case

Shanghai: GDP Apostasy

By: George Serafeim

Balancing economic growth alongside environmental sustainability and social inclusion was becoming increasingly important in China. The case describes Shanghai's decision to abandon growth of Gross Domestic Product (GDP) as its primary metric of measuring success.... View Details

Keywords: China; Gdp; Measurement; Measurement Problems; Accountability; Sustainability; Sustainable Development; Strategy Execution; Strategy; Balanced Scorecard; Strategy Map; Macroeconomics; Measurement and Metrics; Corporate Accountability; Accounting; Environmental Sustainability; Development Economics; Corporate Governance; Shanghai

05 May 2003
Research & Ideas

Greed, Fear, and The System Hinder Corporate Reform

Enforcers of regulatory laws are making some headway, particularly since the passage last summer of the Sarbanes-Oxley Act, but their work as a whole needs more teeth, according to panelists at the session on regulation and enforcement. The session was led by Harvard... View Details

Keywords: by Martha Lagace

April 1980
Teaching Note

Management Succession and Board Membership, Teaching Note

By: Richard G. Hamermesh

Keywords: Management Succession; Governing and Advisory Boards

2021
Article

Designing, Not Checking, for Policy Robustness: An Example with Optimal Taxation

By: Benjamin B. Lockwood, Afras Sial and Matthew C. Weinzierl

Economists typically check the robustness of their results by comparing them across plausible ranges of parameter values and model structures. A preferable approach to robustness—for the purposes of policymaking and evaluation—is to design policy that takes these... View Details

Keywords: Optimal Taxation; Income Tax; Social Welfare; Elasticity; Income; Taxation; Policy

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2019
Chapter

The Republic of Turkey

By: Kristin Fabbe

Situated between Europe and Asia, Turkey occupies a critical geostrategic position in the world. This unique geography, no doubt, has much to do with the complexities and continuities that have characterized the country’s political development. Turkey is anchored to... View Details

Keywords: Government and Politics; International Relations; Turkey

April 2018 (Revised July 2023)
Technical Note

Whistleblower Legislation in the Context of Financial Reporting

By: Aiyesha Dey, Jonas Heese and James Weber

This note provides an overview of U.S. federal legislation relating to whistleblowing, Sarbanes-Oxley, Dodd-Frank (including the Office of the Whistleblower), and the False Claims Act. View Details

Keywords: Whistleblower; Sarbanes-Oxley; Dodd-Frank; False Claims Act; Securities And Exchange Commission; Government Legislation; Financial Reporting; United States

November 2017
Editorial

Facebook, BlackRock, and the Case for Purpose-Driven Companies

By: George Serafeim

Purpose-driven companies have been shown to outperform their peers over the long term. But purpose-driven companies are also hard to come by. Why is that? Because purpose is costly. At the very least, it requires a credible commitment to that purpose. And credible... View Details

Keywords: Facebook; BlackRock; Purpose; Corporate Purpose; ESG; Short-termism; Mission and Purpose; Corporate Governance; Leadership

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July 2012
Case

El Paso's Sale to Kinder Morgan

By: John Coates, Clayton Rose and David Lane

On October 16, 2011, El Paso agreed to sell itself to Kinder Morgan for just over $21 billion. Shareholders filed suit, arguing that the process was tainted by conflict and that a higher price could be obtained. Delaware Chancellor Leo Strine agreed with the plaintiffs... View Details

Keywords: El Paso; Kinder Morgan; Goldman Sachs; Leo Strine; Conflicts Of Interest; Corporate Governance; Relationships; Lawsuits and Litigation; Energy Industry; Banking Industry; United States

Fall 2012
Article

The Flattening Firm—Not As Advertised

By: Julie Wulf

For decades, management consultants and the popular business press have urged large firms to flatten their hierarchies. Flattening (or delayering, as it is also known) typically refers to the elimination of layers in a firm's organizational hierarchy and the broadening... View Details

Keywords: Organizational Structure; Governance Controls; Decision Making

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May 1995 (Revised February 1996)
Case

Phillips Petroleum Co. and Norwegian Oil Policy

By: Willis M. Emmons III and Atte Almas

Keywords: Business and Government Relations; Energy; Policy; Energy Industry; Norway

July 1988
Article

Nutrition Policy: Building the Bridge between Science and Politics

By: James E. Austin and C. Overholt

Keywords: Nutrition; Policy; Science; Government and Politics

2004
Article

Investment, Overhang, and Tax Policy

By: Mihir A. Desai and Austan D. Goolsbee

Keywords: Investment; Taxation; Policy

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April 1993 (Revised October 1993)
Case

Lukens Inc.: The Melters' Committee (A)

By: Jay W. Lorsch

Discusses the Lukens board's involvement in strategic planning. View Details

Keywords: Governing and Advisory Boards; Strategic Planning

May 1998
Case

Clinton's and Nixon's Economic Policy Options

By: Hugo Uyterhoeven

Keywords: Government and Politics; Economics; Money; Policy; United States