Publications

October 2007
Teaching Note

Transforming Korea Inc: Financial Crisis and Institutional Reform (TN)

By: Laura Alfaro and Renee Kim

Teaching Note for 708007. View Details

Keywords: Financial Crisis; Governing Rules, Regulations, and Reforms; Transformation; Policy; Development Economics; Investment Funds; International Finance; Financing and Loans; South Korea

October 2020
Case

HOPE and Transformational Lending: Netflix Invests in Black Led Banks

By: John D. Macomber and Janice Broome Brooks

Following the killing of George Floyd on Memorial Day in 2020, the large US corporation Netflix elected to make a "transformational deposit" of $10 million into Hope Credit Union (HCU), a small Black led community development finance institution (CDFI) based in... View Details

Keywords: Banking; Rural Entrepreneurship; Economic Development; Black Entrepreneurs; Economic Growth; Credit; Banks and Banking; Entrepreneurship; Rural Scope; Development Economics; Race; Investment; Decision Making; Banking Industry

08 Sep 2003
Research & Ideas

A Bold Proposal for Investment Reform

and new requirements for independent, qualified audit committees. The assumption underlying these reforms is that if good information is available, the demand side will use it to make informed investment decisions. Yet, recent evidence... View Details

Keywords: by Ann Cullen; Financial Services

01 Jun 2009
Lessons from the Classroom

The Challenges of Investing in Science-Based Innovation

profoundly." Scientific innovation is moving into companies such as BofA that you wouldn't expect, she adds. "We think of automakers focusing primarily on design, but the growing emphasis on alternative fuels is causing some of them to View Details

Keywords: by Julia Hanna; Banking; Auto; Pharmaceutical

November 2000
Case

Wit Capital: Evolution of the Online Investment Bank (B)

Describes the evolution of Wit Capital from its origins as a small brewery to an online investment bank advising both small technology-based companies seeking to raise capital and large companies seeking to acquire Internet companies, as well as offering retail... View Details

Keywords: Internet and the Web; Disruptive Innovation; Service Delivery; Investment Banking; Entrepreneurship

April 2015 (Revised July 2015)
Case

Proxy Access at Whole Foods

By: Jay Lorsch and Emily McTague

Proxy access grants shareholders meeting certain ownership requirements the right to nominate directors for election to the board without going through a typical proxy contest. In August 2010 the SEC approved a rule granting proxy access for shareholders meeting... View Details

Keywords: Board Of Directors; Proxy Advisor; Shareholder Activism; Shareholder Voting; Shareholder Votes; Proxy Battle; Institutional Change; Institutional Investing; Business and Shareholder Relations; Food and Beverage Industry; North America

June 7, 1990
Article

New Trading Practices and the Short-run Predictability of the S&P 500

By: André Perold, Kenneth A. Froot and James F. Gammill Jr.

Keywords: Institutional Investing; Market Efficiency; Equities; Stock Market; Indexing; Asset Pricing; Financial Markets; Investment; Behavioral Finance

02 Feb 2011
Working Paper Summaries

Lawful but Corrupt: Gaming and the Problem of Institutional Corruption in the Private Sector

Keywords: by Malcolm S. Salter; Financial Services

Research Summary

Selling China: Foreign Direct Investment During the Reform Era

The aim of the book is to illustrate the dynamics of foreign direct investment (FDI) in China in the 1990s. The topic is important both because China is the world's second largest recipient of FDI and because there are substantial misconceptions about the drivers of... View Details

2011
Chapter

Asset Allocation by Institutional Investors after the Recent Financial Crisis

By: Robert C. Pozen, Betsy Palmer and Natalie Shapiro

Keywords: History; Assets; Resource Allocation; Investment Portfolio; Financial Crisis

17 Jun 2002
Research & Ideas

Entrepreneurship in Asia and Foreign Direct Investment

wrote in the forthcoming book, Selling China: Foreign Direct Investment during the Reform Era, to be published in October 2002 by Cambridge University Press, a complete picture of FDI in China needs to acknowledge how China's financial... View Details

Keywords: by Martha Lagace

09 Apr 2020
Research & Ideas

How Social Entrepreneurs Can Increase Their Investment Impact

Both impact investing and traditional philanthropy are on the rise after the decade-long economic boom following the Great Recession. But when does an impact investment make a bigger difference than a grant? The question is far more complicated than simply evaluating... View Details

Keywords: by Rachel Layne

Article

The Impact of Recombining Commercial and Investment Banking

By: Samuel L. Hayes III

Keywords: Investment; Banks and Banking; Commercial Banking

January 2020 (Revised July 2020)
Case

BlackRock: Linking Purpose to Profit

By: Aiyesha Dey

The case revolves around the actions that Barbara Novick, co-founder and Vice-Chair of Blackrock, and Michelle Edkins, Global Head of Investment Stewardship, would need to take in response to the controversial CEO letters from Laurence (Larry) Fink, Chairman and CEO of... View Details

September 2011
Article

What Drives Sell-Side Analyst Compensation at High-Status Investment Banks?

By: Boris Groysberg, Paul M. Healy and David A. Maber

We use proprietary data from a major investment bank to investigate factors associated with analysts' annual compensation. We find compensation to be positively related to "All-Star" recognition, investment-banking contributions, the size of analysts' portfolios, and... View Details

Keywords: Investment Banking; Research; Compensation and Benefits; Investment Portfolio; Forecasting and Prediction; Resource Allocation; Status and Position; Business Earnings; Quality; Revenue; Stocks; Voting

October 2012 (Revised February 2013)
Case

Jim Johnson's Re-election to the Goldman Sachs Board

By: Suraj Srinivasan and Kelly Baker

The case presents the opposition by a leading institutional investor in Goldman Sachs to the re-election of Jim Johnson to the board of directors of the company. The investor, Sequoia Fund, opposes the re-election citing Jim Johnson's prior track record as the CEO of... View Details

Keywords: Board Of Directors; Corporate Governance; Director Elections; Goldman Sachs; Reputation; Institutional Investing; Governing and Advisory Boards; Corporate Accountability; Banking Industry; New York (city, NY)

November 2007
Case

The 1995 Release of the Institutional Investor Research Report: The Impact of New Information

By: Boris Groysberg, Nitin Nohria and Derek Haas

In 1995, Institutional Investor magazine began selling a complete ranking of the best equity research analysts. This report allowed research firms to assess the relative quality of each analyst across the industry, and this enabled firms to know nearly as much about... View Details

Keywords: Talent and Talent Management; Investment Banking; Retention; Selection and Staffing; Reports; Knowledge Use and Leverage; Performance Evaluation; Banking Industry

2014
Chapter

Promoting Corporate Sustainability through Integrated Reporting: The Role of Investment Fiduciaries and the Responsibilities of the Corporate Board

By: Robert G. Eccles, J. Herron and George Serafeim

This book is a comprehensive reference work exploring recent changes and future trends in the principles that govern institutional investors and fiduciaries. A wide range of contributors offer new perspectives on dynamics that drive the current emphasis on short-term... View Details

Keywords: Governance; Integrated Corporate Reporting; Institutional Investing; Financial Services Industry