Publications
Publications
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- All HBS Web
(811)
- Faculty Publications (110)
- August 2010
- Article
Sell-Side School Ties
By: Lauren H. Cohen, Christopher J. Malloy and Andrea Frazzini
We study the impact of social networks on agents' ability to gather superior information about firms. Exploiting novel data on the educational backgrounds of sell-side equity analysts and senior officers of firms, we test the hypothesis that analysts' school ties to... View Details
- November 2009
- Article
Responding to Public and Private Politics: Corporate Disclosure of Climate Change Strategies
By: Erin Marie Reid and Michael W. Toffel
The challenges associated with climate change will require governments, citizens, and firms to work collaboratively to reduce greenhouse gas emissions, a task that requires information on companies' emissions levels, risks, and reduction opportunities. This paper... View Details
- 2009
- Working Paper
Anger and Regulation
By: Rafael Di Tella and Juan Dubra
We propose a model where voters experience an emotional cost when they observe a firm that has displayed insufficient concern for other people's welfare (altruism) in the process of making high profits. Even with few truly altruistic firms, an equilibrium may emerge... View Details
- June 2009
- Case
The Role of the Audit Committee in Risk Oversight
By: Jay W. Lorsch and Kaitlyn Simpson
An audit committee chair considers how he can help his committee become more effective given the increasing regulatory demands on audit committees. He also wrestles with the lack of specificity in audit committee duties and whether his committee should take on... View Details
- January 2009
- Supplement
The Tip of the Iceberg: JP Morgan Chase and Bear Stearns (B2)
By: Clayton S. Rose, Daniel Baird Bergstresser and David Lane
Bear Stearns & Co burned through nearly all of its $18 billion in cash reserves during the week of March 10, 2008, and an unprecedented provision of liquidity support from the Federal Reserve on Friday March 13 was insufficient to reverse the decline in Bear's... View Details
- January 2009 (Revised November 2011)
- Case
The Tip of the Iceberg: JP Morgan Chase and Bear Stearns (A)
By: Clayton S. Rose, Daniel Baird Bergstresser and David Lane
"Bear Stearns & Co. burned through nearly all of its $18 billion in cash reserves during the week of March 10, 2008, and an unprecedented provision of liquidity support from the Federal Reserve on Friday, March 13 was insufficient to reverse the decline in Bear's... View Details
- January 2009
- Supplement
The Tip of the Iceberg: JP Morgan Chase and Bear Stearns (B1)
By: Clayton S. Rose, Daniel Baird Bergstresser and David Lane
Bear Stearns & Co burned through nearly all of its $18 billion in cash reserves during the week of March 10, 2008, and an unprecedented provision of liquidity support from the Federal Reserve on Friday March 13 was insufficient to reverse the decline in Bear's... View Details
- 2008
- Working Paper
Extending Producer Responsibility: An Evaluation Framework for Product Take-Back Policies
By: Michael W. Toffel, Antoinette Stein and Katharine Lee
Manufacturers are increasingly being required to adhere to product take-back regulations that require them to manage their products at the end of life. Such regulations seek to internalize products' entire life cycle costs into market prices, with the ultimate... View Details
- Article
The Causes and Consequences of Industry Self-Policing
By: Jodi L. Short and Michael W. Toffel
Innovative regulatory programs are encouraging firms to police their own regulatory compliance and voluntarily disclose, or "confess," the violations they find. Despite the "win-win" rhetoric surrounding these government voluntary programs, it is not clear why... View Details
- May 2008 (Revised July 2009)
- Case
Sovereign Wealth Funds: For Profits or Politics?
By: Laura Alfaro and Renee Kim
On March 21, 2008, the U.S. government secured an agreement from two leading sovereign wealth funds (SWFs) to adopt a new set of investment principles to govern the Funds' activities. SWFs, broadly defined as an investment fund owned by a national or a government, were... View Details
- May 2008
- Article
Coerced Confessions: Self-Policing in the Shadow of the Regulator
By: Jodi L. Short and Michael W. Toffel
As part of a recent trend toward more cooperative relations between regulators and industry, novel government programs are encouraging firms to monitor their own regulatory compliance and voluntarily report their own violations. In this study, we examine how regulatory... View Details
- December 2007
- Article
Learning to Live with Governments: Unilever in India and Turkey, 1950-1980
By: G. Jones
A noteworthy characteristic of the contemporary global economy is the uneven distribution of world foreign direct investment (FDI). In 2007 three-quarters of world FDI was located in developed countries. The residual was concentrated in a small number of emerging... View Details
- October 2007 (Revised October 2009)
- Case
Global Climate Change and BP
By: Forest L. Reinhardt and Mikell Hyman
Following the sudden resignation of Sir John Browne, Tony Hayward, BP CEO, must decide how global climate change management will figure into BP's corporate strategy. Climate change management was a major part of BP's strategy under Browne: In 1997 Browne broke from his... View Details
- February 2006 (Revised August 2006)
- Case
Investment Banking at Thomas Weisel Partners
By: Malcolm P. Baker and Lauren Barley
Thomas Weisel Partners (TWP), a San Francisco-based bank focusing on emerging growth companies, is considering its strategy in the context of regulatory, competitive, and legal changes. Blake Jorgensen, the chief operating officer and co-director of investment banking,... View Details
- December 2005
- Article
Up to Code: Does Your Company's Conduct Meet World-Class Standards?
Codes of conduct have long been a feature of corporate life. Today, they are arguably a legal necessity—at least for public companies with a presence in the United States. But the issue goes beyond U.S. legal and regulatory requirements. Sparked by corruption and... View Details
- July 2005
- Background Note
Guth v. Loft: Synopsis
By: Lynn S. Paine and Christopher Bruner
Provides a brief overview of the Supreme Court of Delaware's opinion in the 1939 case of Guth v. Loft, a widely cited application of the "corporate opportunity doctrine." Explores the corporate law principles regulating when a corporate manager can or cannot take... View Details
- March 2005 (Revised August 2006)
- Case
Siebel Systems: The Role of the CFO
By: Malcolm P. Baker and Lauren Barley
Mike Lawrie, the newly appointed CEO of Siebel Systems, considers a combination of growth and spending cuts to turn around the struggling software company. Focuses on the role of the chief financial officer, Ken Goldman, in corporate governance and compliance under... View Details
- February 2005 (Revised March 2006)
- Case
PCAOB, The (A)
By: Lynn S. Paine and Kim Bettcher
Members of the Public Co. Accounting Oversight Board--a private-sector, nonprofit body created by the Sarbanes-Oxley Act of 2002--must determine the form and content of a new auditing standard on internal control that will fulfill the requirements of Section 404 of the... View Details
- October 2004 (Revised October 2013)
- Case
In Search of Global Regulation
By: Geoffrey Jones, Mona Rahmani and Alexis Gendron
The history of the international regulation of global capitalism is surveyed, addressing the challenges facing firms confronting international, national, and regional regulation. Follows the history of global regulation after 1914, from the League of Nations'... View Details
- July 2000 (Revised April 2001)
- Case
Agricultural Biotechnology and its Regulation
In the United States, genetically modified corn and soybeans are now widely grown and consumed. In Europe, however, they have been dubbed "Frankenstein foods," shunned by packaged food manufacturers, and subjected to a host of governmental restrictions. This case... View Details