Publications

November 2017
Case

The 'Wonder Drug' That Killed Babies

By: Joshua Lev Krieger, Tom Nicholas and Matthew Preble

In the early 1960s, a popular drug taken by patients worldwide for a range of maladies was found to cause severe birth defects and other health problems in babies born to mothers who had taken it during a certain stage of fetal development. As many as 10,000 children... View Details

Keywords: Regulation; Business and Government Relations; Business and Community Relations; Business and Stakeholder Relations; Product Marketing; Corporate Social Responsibility and Impact; Business History; Health; Government Legislation; Corporate Accountability; Ethics; Governing Rules, Regulations, and Reforms; Pharmaceutical Industry; Pharmaceutical Industry; United States; United Kingdom; Australia; Germany; Europe

1980
Book

Environmental Politics and the Coal Coalition

By: Richard Vietor

Keywords: Environmental Regulation; Coal Mining; Industrial Policy; United States; United States

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2024
Article

Beyond the 510(k): The Regulation of Novel Moderate-Risk Medical Devices, Intellectual Property Considerations, and Innovation Incentives in the FDA’s De Novo Pathway

By: Mateo Aboy, Cristina Crespo and Ariel Stern

Moderate-risk medical devices constitute 99% of those that have been regulated by the U.S. Food and Drug Administration (FDA) since it gained authority to regulate medical technology nearly five decades ago. This article presents an analysis of the interaction between... View Details

Keywords: Governing Rules, Regulations, and Reforms; Health Care and Treatment; Technology Adoption; Technological Innovation; Safety; Medical Devices and Supplies Industry; United States

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2013
Working Paper

Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly

By: Malcolm Baker and Jeffrey Wurgler

Minimum capital requirements are a central tool of banking regulation. Setting them balances a number of factors, including any effects on the cost of capital and in turn the rates available to borrowers. Standard theory predicts that, in perfect and efficient capital... View Details

Keywords: Risk and Uncertainty; Cost of Capital; Capital Markets; Banks and Banking; Banking Industry; United States

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September 2015
Technical Note

The On-Demand Economy

By: Cynthia A. Montgomery, James Weber and Elizabeth Anne Watkins

This note describes the emerging on-demand economy, also referred to as the sharing economy. The note highlights several companies including Uber and Airbnb that exemplify this new mode of competition, a model that threatens to disrupt traditional firms. Uber provides... View Details

Keywords: Regulation; Reform; Disruption; Disruptive Innovation; Strategy; Technological Innovation; Labor; Employment; Working Conditions; Human Capital; Rights; Organizational Design; Social and Collaborative Networks; Service Industry

September 2014 (Revised November 2014)
Case

Marketing Marijuana in Colorado

By: John A. Quelch and David Lane

Colorado's 2014 legalization of marijuana for adult recreational (not just medical) use created a new market that entrepreneurs rushed to enter, channeled by regulations that aimed to minimize marijuana's access to minors while not stifling the emergent new industry.... View Details

Keywords: Public Health; Regulation; Marijuana; Plant-Based Agribusiness; Public Sector; Entrepreneurship; Health Care and Treatment; Agriculture and Agribusiness Industry; Agriculture and Agribusiness Industry; Colorado

16 Jul 2020
Research & Ideas

Restaurant Revolution: How the Industry Is Fighting to Stay Alive

band together to lobby for government support, the concerns of restaurant owners and the unique realities and concerns of their industry remain largely unaddressed by government programs designed to help small businesses. Two months into... View Details

Keywords: by Michael S. Kaufman, Lena G. Goldberg, and Jill Avery; Food & Beverage

December 2018
Case

Tiantong & Partners: Transforming Litigation Practice in China

By: Ashish Nanda and Lisa Rohrer

Jiang Yong founded Tiantong & Partners in 2002, seeking to radically improve the level of litigation-related services in China. By 2015, Tiantong was the premier Chinese litigation firm with the highest per lawyer revenues. The firm focused exclusively on high-stakes... View Details

Keywords: Law Firm; Law Firms; Growth; Legal Industry; Regulation; Professional Services; Law; Lawsuits and Litigation; Internet and the Web; Growth and Development; Strategy; Entrepreneurship; Decision Choices and Conditions; Legal Services Industry; China

October 2018
Case

Innovation at the Utility: Consolidated Edison's Experience

By: Martha Crawford, Andrew Serpa and Jon Wofsy

In 2014, regulators in New York State released a bold vision for the future of the electric utility industry to try and stay ahead of larger trends of rising customer expectations, stagnant load growth, and climate change. In response, Con Edison created a Utility of... View Details

Keywords: Blockchain; Utilities; Consolidated Edison; Regulated Monopolies; Electricity Distribution; Innovation Strategy; Organizational Design; Energy; Energy Generation; Utilities Industry; Energy Industry

October 2018 (Revised January 2019)
Case

The Financial Crisis: Hank Paulson in 2008

By: Adi Sunderam, Robin Greenwood, Sam Hanson and David Scharfstein

On the afternoon of Monday October 13, 2008, Hank Paulson Jr., the Secretary of the Treasury of the United States, walked into the large conference room across the hall from his office in the Treasury Department. Joining him were Federal Reserve Chairman Ben Bernanke,... View Details

Keywords: Bailout; Regulation; Financial Crisis; History; Governing Rules, Regulations, and Reforms; Decision Making; Banking Industry; Banking Industry; Banking Industry; United States

March 2023 (Revised March 2024)
Case

The Purdue Pharma Bankruptcy: Settling the Opioid Crisis

By: Kristin Mugford, Carin-Isabel Knoop and Susan Pinckney

How to get to a fair outcome for claimants in the Purdue Pharma bankruptcy given its significant role in the U.S. opioid crisis. View Details

July 2017 (Revised November 2017)
Case

'Clarín Lies!': Bias, Post-Truth, and Populism in Argentina's Media War

By: Rafael Di Tella, Jose Liberti and Sarah McAra

In 2012, Argentine media conglomerate Grupo Clarín and President Cristina Fernández de Kirchner were embroiled in what some called “the mother of all battles.” Grupo Clarín was one of the preeminent media companies in Argentina, with leading newspapers, cable... View Details

Keywords: Media Regulation; Media; Government and Politics; Policy; Newspapers; Government Legislation; Business and Government Relations; Risk and Uncertainty; Monopoly; Journalism and News Industry; Journalism and News Industry; Argentina

March 2013 (Revised August 2014)
Case

Indonesia's OJK: Building Financial Stability

By: Lakshmi Iyer and David Lane

In 2013, a new financial services authority, the Otoritas Jasa Keuangan (OJK), took over responsibility for regulating capital markets and non-bank financial institutions in Indonesia. OJK was scheduled to take over bank regulation and supervision from the central... View Details

Keywords: Monetary Policy; Bank Regulation; Financial Market Regulation; Corruption; Bureaucracy; Central Bank Independence; Indonesia; Crime and Corruption; Central Banking; Ethics; Emerging Markets; Financial Markets; Corporate Governance; Financial Crisis; Financial Strategy; Financial Services Industry; Indonesia

September 2013
Article

Combining Banking with Private Equity Investing

By: Lily H. Fang, Victoria Ivashina and Josh Lerner

Bank-affiliated private equity groups account for 30% of all private equity investments. Their market share is highest during peaks of the private equity market, when the parent banks arrange more debt financing for in-house transactions yet have the lowest exposure to... View Details

Keywords: Regulation; Private Equity; Leveraged Buyouts; Banks and Banking; Banking Industry

SSRN

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June 2019
Case

Fangda Partners: A Step Ahead

By: Ashish Nanda and Lisa Rohrer

Elite Chinese law firm Fangda Partners has steered Alibaba and other Chinese and international clients through the complex legal, corporate, and regulatory challenges associated with executing international transactions. “Fangda has traveled a long distance in a short... View Details

Keywords: Law Firm; Law Firms; Growth; Legal Industry; Regulation; Professional Services; Law; Leadership; Growth and Development; Strategy; Governing Rules, Regulations, and Reforms; Legal Services Industry; China

2022
Article

Dynamic Pricing Algorithms, Consumer Harm, and Regulatory Response

By: Alexander MacKay and Samuel N. Weinstein

Pricing algorithms are rapidly transforming markets, from ride-sharing apps, to air travel, to online retail. Regulators and scholars have watched this development with a wary eye. Their focus so far has been on the potential for pricing algorithms to facilitate... View Details

Keywords: Competition Policy; Regulation; Algorithmic Pricing; Dynamic Pricing; Economics; Law And Economics; Law And Regulation; Consumer Protection; Antitrust Law; Industrial Organization; Antitrust Issues And Policies; Technological Change: Choices And Consequences; Competition; Policy; Price; Governing Rules, Regulations, and Reforms; Microeconomics; Duopoly and Oligopoly; Law

SSRN

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February 2016
Supplement

The Maggi Noodle Safety Crisis in India (C)

By: Karthik Ramanna and Radhika Kak

The local government in Delhi has ordered a ban on Nestlé's flagship product in India—Maggi Noodles, citing excessive lead content per government lab tests. Nestlé disputes the government tests, noting that internal and third-party tests show the product to be safe.... View Details

Keywords: Multinationals; Globalization; Regulation; Customer Relations; Business And Government; Safety; Leadership; Food; Multinational Firms and Management; Governance Compliance; Crisis Management; Customer Focus and Relationships; Business and Government Relations; Food and Beverage Industry; Delhi

01 Apr 2009
Working Paper Summaries

The Contingent Nature of Public Policy and Growth Strategies in the Early Twentieth-Century U.S. Banking Industry

Keywords: by Christopher Marquis & Zhi Huang; Banking

February 2015
Case

Longbow Capital Partners

By: Malcolm Baker, Samuel G. Hanson and James Weber

Longbow Capital Partners is a value-oriented long/short hedge fund focused on stocks in the energy sector. In January 2011, Longbow had invested in NiSource, a Fortune 500 company that owns a diverse portfolio of regulated energy businesses. In late 2014, Longbow was... View Details

Keywords: Value Investing; Investment Strategy; Dividend Yield; Intrinsic Value; Dividend Discount Model; Master Limited Partnership; Hedge Fund; Energy Industry; Regulation; Utilities; Finance; Financial Services Industry; United States