Publications

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2024
Working Paper

Climate Solutions, Transition Risk, and Stock Returns

By: Shirley Lu, Edward J. Riedl, Simon Xu and George Serafeim

Using large language models to measure firms' climate solution products and services, we find that high-climate solution firms exhibit lower stock returns and higher market valuation multiples. Their stock prices respond positively to events signaling increased demand... View Details

Keywords: Technology; Generative Ai; Large Language Models; Climate Finance; Climate Change; Innovation and Invention; Environmental Sustainability; AI and Machine Learning; Investment; Financial Markets

SSRN

2009
Working Paper

Securing Jobs or the New Protectionism?: Taxing the Overseas Activities of Multinational Firms

By: Mihir A. Desai

Tax policy toward American multinational firms would appear to be approaching a crossroads. The presumed linkages between domestic employment conditions and the growth of foreign operations by American firms have led to calls for increased taxation on foreign... View Details

Keywords: Multinational Firms and Management; Policy; Taxation; Job Cuts and Outsourcing; United States

19 Sep 2012
Research & Ideas

Funding Innovation: Is Your Firm Doing it Wrong?

common struggle for firms to get innovation investments right, says Josh Lerner, the Jacob H. Schiff Professor of Investment Banking at Harvard Business School. On one hand, firms View Details

Keywords: by Carmen Nobel

October 2021 (Revised May 2023)
Case

Engine No.1: An Impact Investing Firm Engages with ExxonMobil

By: Mark Kramer, Shawn Cole, Vikram S. Gandhi and T. Robert Zochowski

ExxonMobil, the world's fifth largest source of carbon emissions, remained committed to aggressively expanding its oil & gas business despite global warming. During the COVID pandemic this strategy resulted in massive losses as the price and demand for oil declined. ... View Details

Keywords: Carbon Emissions; Global Warming; Impact Investment Funds; Hedge Fund Activism; Leadership Development; Business Model; Renewable Energy; Resource Allocation; Decision Choices and Conditions; Governing and Advisory Boards

Educators

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11 Jan 2011
Working Paper Summaries

Does Shareholder Proxy Access Improve Firm Value? Evidence from the Business Roundtable Challenge

Keywords: by Bo Becker, Daniel B. Bergstresser & Guhan Subramanian; Financial Services

2012
Chapter

Firing Your Best Customers: How Smart Firms Destroy Relationships Using CRM

By: Jill Avery and Susan Fournier

With incidences in the 20%–25% range, the practice of firing customers has become increasingly attractive as firms try to maximize the lifetime value of their customer portfolios. This chapter traces the relationship trajectory of a 30-year customer of Filene's... View Details

Keywords: Brands; Brand Management; CRM; Customer Relationship Management; Customer Focus and Relationships; Customers; Marketing; Brands and Branding; Marketing Communications; Marketing Strategy; Consumer Products Industry

Purchase

20 Feb 2019
Research & Ideas

Rocket-tunity: Can Private Firms Turn a Profit in Space?

is on Commercial space ventures have received more than $18.4 billion of investment since 2000, according to the Start-Up Space 2018 report from research firm Bryce Space and Technology. Weinzierl says recent progress by two of the most... View Details

Keywords: by Scott Wallask; Aerospace; Tourism; Transportation

October 2010
Journal Article

The Flattening Firm and Product Market Competition: The Effect of Trade Liberalization on Corporate Hierarchies

By: Maria Guadalupe and Julie Wulf

This paper establishes a causal effect of product market competition on various characteristics of organizational design. Using a unique panel-dataset on firm hierarchies of large U.S. firms (1986-1999) and a quasi-natural experiment (trade liberalization), we find... View Details

Keywords: Business Ventures; Product; Markets; Competition; Organizational Design; Governing Rules, Regulations, and Reforms; Rank and Position; Organizational Structure; Decision Choices and Conditions; Change; Trade; United States

2009
Other Unpublished Work

The Flattening Firm and Product Market Competition: The Effect of Trade Liberalization on Corporate Hierarchies

By: Maria Guadalupe and Julie Wulf

This paper establishes a causal effect of product market competition on various characteristics of organizational design. Using a unique panel-dataset on firm hierarchies of large U.S. firms (1986-1999) and a quasi-natural experiment (trade liberalization), we find... View Details

Keywords: Trade; Managerial Roles; Organizational Change and Adaptation; Organizational Design; Organizational Structure; Business Strategy; Competitive Strategy

2022
Chapter

The Servicification of the U.S. Economy: The Role of Startups versus Incumbent Firms

By: Mercedes Delgado, J. Daniel Kim and Karen G. Mills

Over the last few decades, the U.S. economy has exhibited a significant shift from manufacturing towards services. This transition has been particularly prominent in an important subcategory of services industries that drives innovation and employs many high-wage... View Details

Keywords: Servicification; Supply Chain Industries; STEM Labor; Innovation; Growth; Entrepreneurship; Innovation and Invention; Economic Growth; Policy; Service Industry; United States

17 Oct 2014
News

Small, but fierce: How tiny firms can pack a big punch

Research Summary

The Servicification of the U.S. Economy: The Role of Startups versus Incumbent Firms

Over the last few decades, the U.S. economy has exhibited a significant shift from manufacturing towards services. This transition has been particularly prominent in an important subcategory of services industries that drives innovation and employs many high-wage... View Details

December 2020
Article

Multinational Firms and the Politics of International Trade in Multidisciplinary Perspective

By: Grace A. Ballor and Aydin B. Yildirim

From the technical analyses of wide ranges of scholars to the public discourse backlashes against globalization, there is a huge volume of work historicizing, quantifying, and problematizing the complex role of multinational corporations (MNCs) in international trade.... View Details

Keywords: Multinational Corporations; International Trade; Big Business; Economic Governance; Global Value Chains; Trade Policy; Corporate Regulation; Multinational Firms and Management; Trade; Policy; Governance; Globalization

27 Apr 2020
News

The pandemic is liberating firms to experiment with radical new ideas

23 Jun 2010
Working Paper Summaries

The Role of Institutional Development in the Prevalence and Value of Family Firms

Keywords: by Raphael Amit, Yuan Ding, Belén Villalonga & Hua Zhang

October 1990
Article

Bankruptcy, Boards, Banks, and Blockholders: Evidence on Changes in Corporate Ownership and Control When Firms Default

By: S. C. Gilson

In 111 publicly traded firms that either file for bankruptcy or privately restructure their debt between 1979 and 1985, bank lenders frequently become major stockholders or appoint new directors. On average, only 46% of incumbent directors remain when bankruptcy or... View Details

Keywords: Insolvency and Bankruptcy; Governance; Banks and Banking; Change; Business Ventures; Ownership

2019
Article

Can Big Data Improve Firm Decision Quality? The Role of Data Quality and Data Diagnosticity

By: Maryam Ghasemaghaei and Goran Calic

Anecdotal evidence suggests that, despite the large variety of data, the huge volume of generated data, and the fast velocity of obtaining data (i.e., big data), quality of big data is far from perfect. Therefore, many firms defer collecting and integrating big data as... View Details

Keywords: Big Data; Analytics and Data Science; Decisions; Quality