Publications

12 Oct 2010
Working Paper Summaries

Crashes and Collateralized Lending

Keywords: by Jakub W. Jurek & Erik Stafford; Banking; Financial Services

Article

California Fair Trade: Antitrust and the Politics of 'Fairness' in U.S. Competition Policy

By: Laura Phillips Sawyer

In the decades before World War II, U.S. antitrust law was anything but settled. Considerable pressure for antitrust revision came from the states. A perhaps unlikely leader, Edna Gleason, organized California's retail pharmacists and coordinated trade networks to... View Details

Keywords: Competition; Fairness; Laws and Statutes; Policy; United States

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Research Summary

The Transparency of Ethical Behavior

(with Max Bazerman, Karim Kassam, and Neeru Paharia)
This research analyzes how unethical behavior is viewed when performed... View Details

2016
Article

The Federal Reserve's Balance Sheet as a Financial-Stability Tool

By: Robin Greenwood, Samuel Gregory Hanson and Jeremy C. Stein

We argue that the Federal Reserve should use its balance sheet to help reduce a key threat to financial stability: the tendency for private-sector financial intermediaries to engage in excessive amounts of maturity transformation—i.e., to finance risky assets using... View Details

Keywords: Central Banking; Policy; Risk Management; Public Administration Industry; United States

February 2008 (Revised March 2008)
Teaching Note

LinkedIn (TN) (A) and (B)

By: Mikolaj Jan Piskorski

In the summer of 2005, LinkedIn, a two-year-old start-up, was choosing between two options to monetize its 5 million business people network. Members could contact each other through trusted intermediaries on the network to offer or seek jobs, consulting engagements,... View Details

Keywords: Business Startups; Social and Collaborative Networks; Internet and the Web; Financing and Loans; Revenue; Design; Service Operations

2024
Working Paper

What Do Bank Trading Desks Do?

By: Lina Lu and Jonathan Wallen

Bank trading desks earn profits from intermediating customer trading volume. Across a broad set of asset markets, we document that the trading desks of large U.S. dealer banks behave as financial intermediaries that profit from toll-taking as in Duffie et al. (2005).... View Details

Keywords: Banks and Banking; Profit; Financial Markets

November 2001 (Revised September 2005)
Case

What's the BIG Idea? (A)

By: Clayton M. Christensen and Scott Duncan Anthony

CEO Michael Collins must decide if and how a process he developed to further innovation in the kids' industry could port over to other industries. The process was based on Collins' experiences as an inventor and as a venture capitalist, and it allowed his company to be... View Details

Keywords: Innovation and Management; Entrepreneurship

February 1997 (Revised November 2007)
Case

Tale of Two Electronic Components Distributors

By: Ananth Raman and Bharat P. Rao

Discusses the role of distribution intermediaries in the electronic components industry, and describes operations at two of these distributors. Serves as a vehicle to discuss the functions provided by distributors in the channel. Also lets students understand the... View Details

Keywords: Growth and Development Strategy; Distribution Channels; Consolidation; Internet; Distribution Industry; Electronics Industry

October 1999 (Revised January 2000)
Case

W. R. Hambrecht & Co: OpenIPO

By: Andre F. Perold and Gunjan D. Bhow

OpenIPO is a new mechanism for pricing and distributing initial public offerings. The system, which is based on a Dutch auction, represents an attempt by the investment bank W.R. Hambrecht + Co. to change the manner in which IPOs are underwritten. The case provides a... View Details

Keywords: Investment Banking; Debt Securities; Stocks; Initial Public Offering; Price; Information; Auctions; Agreements and Arrangements; Distribution; Internet; Netherlands

January 2009 (Revised March 2010)
Case

LeBron James

By: Anita Elberse and Jeff McCall

In 2005, to the astonishment of many sports industry insiders, superstar basketball player LeBron James fired his agent and established his own firm, LRMR, to handle all aspects of his business ventures and marketing activities and named his childhood friend Maverick... View Details

Keywords: Talent and Talent Management; Compensation and Benefits; Brands and Branding; Marketing Strategy; Sports; Sports Industry

Research Summary

Understanding Financial Communication Strategy

Greg Miller is investigating financial communication. Financial communication is the process through which managers explain the firm to the external stakeholders. While capital providers are the primary audience for this information, effective financial communication... View Details

2021
Working Paper

Elusive Safety: The New Geography of Capital Flows and Risk

By: Laura Alfaro, Ester Faia, Ruth Judson and Tim Schmidt-Eisenlohr

A confidential dataset with industry-level disaggregation of U.S. cross-border claims and liabilities, shows U.S. securities to be increasingly intermediated by tax-haven-financial-centers (THFC) and less regulated funds. These securities are risky, in... View Details

Keywords: Tax Havens; Financial Centers; Geography Of Flows; Profit Shifting; Tax Avoidance; Risk; Safe Assets; Hetergeneous Firms; Endogenous Entry; Endogenous Monitoring; Regulatory Arbitrage; Assets; Safety; Risk and Uncertainty; Capital; Global Range

2024
Working Paper

Exports in Disguise: Trade Re-Routing During the U.S.-China Trade War

By: Ebehi Iyoha, Edmund J. Malesky, Jaya Y. Wen, Sung-Ju Wu and Bo Feng

Origin-specific tariffs are a common policy tool; however, critics claim that such tariffs are often circumvented by rerouting goods through intermediary countries. This study examines whether rerouting increased due to the 2018-2019 U.S.–China trade war via Vietnam.... View Details

Keywords: Trade; International Relations; Logistics; China; Viet Nam; United States

17 Jun 2010
Working Paper Summaries

When Do Analysts Add Value? Evidence from Corporate Spinoffs

Keywords: by Emilie Rose Feldman, Stuart C. Gilson & Belén Villalonga

July 2011
Case

Edna McConnell Clark Foundation-Enabling a Performance Driven Philanthropic Capital Market

By: Allen Grossman and Aldo Sesia

The Edna McConnell Clark Foundation, focused on building the organizational capabilities of nonprofits that served the disadvantaged youth in the United States, has recently been named an intermediary in the federal government's new social innovation fund (SIF), which... View Details

Keywords: Nonprofit Organizations; Organizational Change and Adaptation; Philanthropy and Charitable Giving; Financial Strategy; Performance Improvement; Capital Markets; United States

Research Summary

Market Triads: A Theoretical and Empirical Analysis of Market Intermediation (Journal for the Theory of Social Behavior, June 2002)

By: Rakesh Khurana

This paper examines the role of executive search firms in CEO search. The paper argues that the numerical shift from two party market transactions (e.g. buyers and sellers) to three party transactions (e.g. buyers, sellers, and third party) transforms market exchanges... View Details

September 2009 (Revised February 2011)
Case

Intellectual Ventures

By: Andrei Hagiu, David B. Yoffie and Alison Berkley Wagonfeld

Intellectual Ventures creates and acquires intellectual property, which it then seeks to monetize through non-exclusive licensing. In early 2009, as an increasing number of companies were trying to position themselves as leading intermediaries in the market for... View Details

Keywords: Business Model; Innovation and Invention; Intellectual Property; Rights; Service Operations; Research and Development; Technology; Service Industry