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  • 06 Nov 2023
  • Research & Ideas

Did You Hear What I Said? How to Listen Better

to make sure that listeners were really paying attention to the screen, they were given a financial incentive to remember as many commercials as they could. “There’s a lot of social pressure to convey we are... View Details
Keywords: by Michael Blanding
  • January 2004 (Revised July 2006)
  • Case

Executive Remuneration at Reckitt Benckiser plc

By: Jay W. Lorsch, V.G. Narayanan, Krishna G. Palepu, Lisa Brem and Ashley Robertson
Reckitt Benckiser plc has developed an executive compensation system. This case outlines the structure of the system, its emphasis on performance-based pay and a global outlook, and explains the role of the human resources department, the board of directors, and... View Details
Keywords: Governing and Advisory Boards; Employee Relationship Management; System; Executive Compensation; Retention; Performance; Human Resources; Recruitment; Business and Shareholder Relations
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  • 1999
  • Other Unpublished Work

Executive Ownership and Control in Newly Public Firms: The Role of Venture Capitalists

By: Malcolm Baker and Paul Gompers
We study the implications of CEO equity ownership for incentives and control in a sample of 1,011 newly public firms. Before an initial public offering, equity investments by venture capitalists reduce CEO ownership by about half, from an average of 35 percent to 19... View Details
Keywords: Equity; Ownership; Motivation and Incentives; Initial Public Offering; Investment; Venture Capital; Managerial Roles; Cost Management; Governance Controls; Executive Compensation
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  • October 2017 (Revised March 2020)
  • Case

Medicetra Medtech Company, Inc.

By: Doug J. Chung
Medicetra MedTech Company is a dental equipment distributor, and senior management is deciding whether to implement a new incentive compensation program for the sales force. For many years, Medicetra had paid salespeople only a fixed salary. Although the current plan... View Details
Keywords: Sales Compensation; Sales Force Retention; Employee Fairness; Salesforce Management; Compensation and Benefits; Motivation and Incentives; Retention; Fairness; Performance Improvement
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  • 07 Jul 2008
  • Research & Ideas

Innovation Corrupted: How Managers Can Avoid Another Enron

companies can adapt key aspects of the private-equity governance model to ensure that they fulfill their oversight responsibilities. With respect to avoiding the perverse financial incentives that corrupted Enron, my book makes specific... View Details
Keywords: by Martha Lagace; Energy; Utilities
  • Research Summary

Optimal Contracting with Reciprocal Agents

(with Florian Englmaier) (Job Market Paper)

 Abstract: Empirically, compensation systems often seem to generate substantial effort despite weak incentives. We consider reciprocal motivations as a source of incentives. We solve for the optimal... View Details

  • October 1995
  • Article

Start-ups, Spin-offs, and Internal Projects

By: James J. Anton and Dennis Yao
We examine the incentive problem confronting a firm and employee when the employee privately discovers a significant invention and faces a choice between keeping the invention private and leaving the firm to form a new company (start-up), or transferring knowledge and... View Details
Keywords: Business Startups; Projects; Motivation and Incentives; Rights; Employees; Innovation and Invention; Compensation and Benefits; Knowledge Sharing; Capital; Profit
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  • 21 Feb 2023
  • Research & Ideas

Are Your Employees Passing Up Incentives? Try Promoting the Programs More

Motivating employees takes more than carrots and sticks—it hangs on making them aware of those incentives and deterrents, according to new research. Companies, governments, and institutions across the globe spend countless billions on... View Details
Keywords: by Scott Van Voorhis
  • 2023
  • Article

A Review of Commercialisation Mechanisms for Carbon Dioxide Removal

By: Conor Hickey, Sam Fankhauser, Stephen Smith and Myles Allen
The deployment of carbon dioxide removal (CDR) needs to be scaled up to achieve net zero emission pledges. In this paper we survey the policy mechanisms currently in place globally to incentivise CDR, together with an estimate of what different mechanisms are paying... View Details
Keywords: Carbon Dioxide Removal; Climate Change; Markets; Cost; Policy; Environmental Regulation
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  • February 2006
  • Article

Wealth and Executive Compensation

Using new data on the wealth of Swedish CEOs, I show that higher wealth CEOs receive stronger incentives. Since high wealth (excluding own-firm holdings) implies low absolute risk aversion, this is consistent with a risk aversion explanation. To examine whether wealth... View Details
Keywords: Wealth; Executive Compensation; Motivation and Incentives; Power and Influence; Risk Management; Competency and Skills; Wages; Sweden
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  • Research Summary

Current Research

Ian studies extrinsic rewards -- monetary incentives from formal compensation systems, as well as other formal and informal external rewards-- in order to help businesses understand the tensions and tradeoffs inherent in motivating employees. His research takes a... View Details

  • 31 Jan 2023
  • Op-Ed

Can Insurance Technology Solve the Uninsured Driver Problem?

insurance at a time and only pay for coverage on the days they actually drive. The high cost of the uninsured While 13 percent of drivers nationwide are uninsured, the problem is even worse in some states like California (17 percent),... View Details
Keywords: by Ray Kluender; Insurance
  • April 2000 (Revised July 2000)
  • Case

Ameritrade Holding Corporation

By: Lisa K. Meulbroek
Some of the senior managers at Ameritrade, an Internet brokerage firm, are selling their holdings in the firm. Why are the managers selling, how will it affect shareholders, and what should the CEO do about it? The CEO is concerned that the market will interpret... View Details
Keywords: Valuation; Internet and the Web; Stock Options; Risk Management; Financial Services Industry
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  • 01 Mar 2016
  • First Look

March 1, 2016

U.S. GAAP and IFRS for every topic covered in the book. For a preview of the book, please see: www.createspace.com/Preview/1186020. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=50689 Infrastructure, Incentives and... View Details
Keywords: Sean Silverthorne
  • 28 Apr 2022
  • Research & Ideas

Can You Buy Creativity in the Gig Economy?

e-book market. New regulations have shaken up the e-book landscape in China, intensifying competition and prompting writers to work harder, according to research by Harvard Business School Professor Feng Zhu. Book contracts that give authors a share of sales rather... View Details
Keywords: by Pamela Reynolds
  • 09 Nov 2011
  • Working Paper Summaries

CEO Bonus Plans: And How to Fix Them

Keywords: by Kevin J. Murphy & Michael C. Jensen
  • 20 Nov 2012
  • First Look

First Look: November 20

pay between different-state managers increased by less relative to same-state managers after the rule change. Taken together, our findings suggest that peer comparison decreases pay disparity within firms... View Details
Keywords: Sean Silverthorne
  • 13 Sep 2006
  • Op-Ed

Rising CEO Pay: What Directors Should Do

long-term trend has been for CEO pay to rise along with the pay for other senior executives, and it is now twice as much as that of CEOs in major European countries, according to Towers Perrin, a global... View Details
Keywords: by Jay W. Lorsch
  • fall 2010
  • Article

Lawsuits and Empire: On the Enforcement of Sovereign Debt in Latin America

By: Faisal Z. Ahmed, Laura Alfaro and Noel Maurer
The re-occurring phenomenon of sovereign default has prompted an enormous theoretical and empirical literature. Most of this research has focused on why countries ever chose to pay their debts (or why private creditors ever expected repayment). The problem originates... View Details
Keywords: Lawsuits and Litigation; Insolvency and Bankruptcy; Sovereign Finance; Borrowing and Debt; Debt Securities; Motivation and Incentives; Markets; Equity; Banking Industry; Latin America
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  • 19 Sep 2012
  • Research & Ideas

Book Excerpt: “The Architecture of Innovation”

that have eschewed incentive compensation have had to face a steady stream of defections once the junior investors have mastered the venture process. After too many board meetings in which the corporate investor parks his Fiesta next to... View Details
Keywords: by Josh Lerner; Financial Services