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(577)
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Show Results For
- All HBS Web
(577)
- People (1)
- News (57)
- Research (468)
- Events (5)
- Multimedia (1)
- Faculty Publications (319)
- 2023
- Working Paper
Segmented Going-Public Markets and the Demand for SPACs
By: Angela Ma, Miles Zheng and Jessica Bai
We provide a regulatory-arbitrage-based explanation for the origin and proliferation of the Special Purpose Acquisition Company (SPAC). SPAC sponsors act as non-bank intermediaries, and the SPAC market structure appeals to yield-seeking investors and riskier,... View Details
Keywords: Special Purpose Acquisition Companies; Non-bank Intermediaries; Regulatory Arbitrage; Adverse Selection; Initial Public Offering
Ma, Angela, Miles Zheng, and Jessica Bai. "Segmented Going-Public Markets and the Demand for SPACs." Working Paper, 2023.
- Forthcoming
- Article
In the Red: Overdrafts, Payday Lending and the Underbanked
By: Marco Di Maggio, Angela Ma and Emily Williams
The reordering of transactions from “high-to-low” is a controversial bank practice thought to maximize fees paid by low-income customers on overdrawn accounts. We exploit multiple class-action lawsuits resulting in mandatory changes to this practice, coupled with... View Details
- January 2015
- Case
Chevron Under Fire
By: George Serafeim, Rebecca Henderson and Christine Snively
Oil giant, Chevron, faced numerous challenges on environmental, social and governance (ESG) grounds in the first decade of the 21st century, including some major lawsuits and actions by NGOs. The case describes those challenges and raises questions about what is the... View Details
- 2017
- Working Paper
Patent Trolls and Small Business Employment
By: Ian Appel, Joan Farre-Mensa and Elena Simintzi
We analyze how frivolous patent-infringement claims made by “patent trolls” affect small firms’ ability to create jobs, raise capital, and survive. Our identification strategy exploits the staggered passage of anti-patent-troll laws at the state level. We find that the... View Details
Appel, Ian, Joan Farre-Mensa, and Elena Simintzi. "Patent Trolls and Small Business Employment." Harvard Business School Working Paper, No. 17-072, February 2017.
- September 2015
- Case
Hexion/Apollo's Courtship of Huntsman Corporation (A)
By: Lena G. Goldberg and Danielle V. Holland
In July 2007, after several failed attempts to acquire Huntsman Corporation, Hexion/Apollo prevailed in a bidding war for the company and signed a definitive merger agreement. Apollo had down bid Huntsman during previous attempts to acquire the company, and Huntsman... View Details
Keywords: Fiduciary Outs; Topping Rights; Revlon Duties; Solvency Opinions; Reverse Termination Fees; Litigation Strategy; Law
Goldberg, Lena G., and Danielle V. Holland. "Hexion/Apollo's Courtship of Huntsman Corporation (A)." Harvard Business School Case 316-028, September 2015.
- October 2014 (Revised September 2017)
- Case
The National Football League and Brain Injuries
By: Richard G. Hamermesh and Matthew G. Preble
The National Football League (NFL) was both the most popular spectator sport in the U.S. and a major economic entity, taking in roughly $10 billion a year in revenue. However through the early twenty-first century, an increased understanding of the long-term effects of... View Details
Keywords: Employee Safety; Safety; Employees; Sports; Health; Ethics; Sports Industry; United States
Hamermesh, Richard G., and Matthew G. Preble. "The National Football League and Brain Injuries." Harvard Business School Case 815-071, October 2014. (Revised September 2017.)
- Article
Audit Quality and Auditor Reputation: Evidence from Japan
By: Douglas Skinner and Suraj Srinivasan
We study events surrounding ChuoAoyama's failed audit of Kanebo, a large Japanese cosmetics company whose management engaged in a massive accounting fraud. ChuoAoyama was PwC's Japanese affiliate and one of Japan's largest audit firms. In May 2006, the Japanese... View Details
Keywords: Audit Quality; Auditor Reputation; Japan; Accounting Audits; Crime and Corruption; Reputation; Beauty and Cosmetics Industry; Japan
Skinner, Douglas, and Suraj Srinivasan. "Audit Quality and Auditor Reputation: Evidence from Japan." Accounting Review 87, no. 5 (September 2012): 1737–1765.
- October 2002 (Revised January 2003)
- Case
Hermitage Fund, The: Media and Corporate Governance in Russia
William Browder, the top executive of the Hermitage Fund, the best-performing international equity fund over the last five years, attributed much of his funds' strong returns to its focus on shareholder activism and corporate governance. In 2001, he was putting this... View Details
Dyck, Alexander. "Hermitage Fund, The: Media and Corporate Governance in Russia." Harvard Business School Case 703-010, October 2002. (Revised January 2003.)
- January 2014
- Teaching Note
Dr. Benjamin Hooks and Children's Health Forum
By: Rosabeth Moss Kanter and Ai-Ling Malone
The case includes law, business, and public health perspectives on an African American leader's social entrepreneurship and leadership in other social movements. Later in his life, Dr. Benjamin Hooks championed the eradication of lead poisoning. Prior to that Hooks... View Details
- December 2021
- Article
Cash-for-Information Whistleblower Programs: Effects on Whistleblowing and Consequences for Whistleblowers
By: Aiyesha Dey, Jonas Heese and Gerardo Pérez Cavazos
We study the effect of financial incentives on whistleblowing and the consequences for whistleblowers under the cash-for-information program of the False Claims Act (FCA). Exploiting appeals-court decisions that increase financial incentives for whistleblowing, we find... View Details
Keywords: Whistleblowers; Cash-for-information Whistleblower Programs; False Claims Act; Corporate Misconduct; Consequences For Whistleblowers; Crime and Corruption; Information; Cost
Dey, Aiyesha, Jonas Heese, and Gerardo Pérez Cavazos. "Cash-for-Information Whistleblower Programs: Effects on Whistleblowing and Consequences for Whistleblowers." Journal of Accounting Research 59, no. 5 (December 2021): 1689–1740.
- 2013
- Working Paper
The Auditing Oligopoly and Lobbying on Accounting Standards
By: Abigail M. Allen, Karthik Ramanna and Sugata Roychowdhury
We examine how the tightening of the U.S. auditing oligopoly over the last twenty-five years—from the Big 8 to the Big 6, the Big 5, and, then, the Big 4—has affected the incentives of the Big N, as manifest in their lobbying preferences on accounting standards. We... View Details
Allen, Abigail M., Karthik Ramanna, and Sugata Roychowdhury. "The Auditing Oligopoly and Lobbying on Accounting Standards." Harvard Business School Working Paper, No. 13-054, December 2012. (Revised August 2013.)
- October 2021 (Revised October 2022)
- Case
The Opioid Settlement and Controversy Over CEO Pay at AmerisourceBergen
By: Suraj Srinivasan and Li-Kuan Ni
In 2020, AmerisourceBergen Corporation, a Fortune 50 company in the drug distribution industry, agreed to settle thousands of lawsuits filed nationwide against the company for its opioid distribution practices that critics alleged had contributed to the nationwide... View Details
Keywords: Opioids; Drug; Investors; Shareholder Activism; Investment Activism; Executive Compensation; Corporate Accountability; Corporate Governance; Governance Compliance; Governance Controls; Risk Management; Corporate Social Responsibility and Impact; Business and Shareholder Relations; Business and Stakeholder Relations; Legal Liability; Distribution Industry; Health Industry; Pharmaceutical Industry; United States; West Virginia; Tennessee; Ohio; Pennsylvania
Srinivasan, Suraj, and Li-Kuan Ni. "The Opioid Settlement and Controversy Over CEO Pay at AmerisourceBergen." Harvard Business School Case 122-014, October 2021. (Revised October 2022.)
- December 2016
- Article
Through the Mud or in the Boardroom: Examining Activist Types and Their Strategies in Targeting Firms for Social Change
By: Charles Eesley, K. A. DeCelles and Michael Lenox
We examine the variety of activist groups and their tactics in demanding firms’ social change. While extant work does not usually distinguish among activist types or their variety of tactics, we show that different activists (e.g., social movement organizations vs.... View Details
Eesley, Charles, K. A. DeCelles, and Michael Lenox. "Through the Mud or in the Boardroom: Examining Activist Types and Their Strategies in Targeting Firms for Social Change." Strategic Management Journal 37, no. 12 (December 2016): 2425–2440.
- January 2016 (Revised February 2016)
- Case
Citizens United and Corporate Speech
By: David Moss and Marc Campasano
The story of Citizens United began in late 2007, as leading members of the Republican and Democratic parties were preparing for the 2008 presidential primaries. Democrats expected a three-way contest in their party between Senator Barack Obama of Illinois, Senator (and... View Details
- March 2010
- Article
Information Content of Insider Trades before and after the Sarbanes-Oxley Act
By: Francois Brochet
This paper examines the information content of Form 4 filings under the more timely disclosure regime introduced by Section 403 of the Sarbanes-Oxley Act of 2002 (SOX). Abnormal returns and trading volumes around filings of insider stock purchases are significantly... View Details
Keywords: Stocks; Corporate Disclosure; Governing Rules, Regulations, and Reforms; Government Legislation; Lawsuits and Litigation; Market Transactions; Volume; Sales
Brochet, Francois. "Information Content of Insider Trades before and after the Sarbanes-Oxley Act." Accounting Review 85, no. 2 (March 2010): 419–446.
- June 2014
- Supplement
Chung and Dasgupta: Information for Jordan Ramirez
By: Ian Larkin and Karen Huang
The "Promotion Process at Chung and Dasgupta, LLP" set of cases explores the roles of general and firm-specific human capital in employee performance measurement, feedback, and promotion/compensation decisions. In the cases, a leading law firm must decide whether to... View Details
Keywords: Performance Appraisal; Performance Measurement; Employee Feedback; Motivation; Promotions; Human Capital; Performance Evaluation; Management Systems; Compensation and Benefits; Retention; Legal Services Industry; United States; Massachusetts
Larkin, Ian, and Karen Huang. "Chung and Dasgupta: Information for Jordan Ramirez." Harvard Business School Supplement 914-046, June 2014.
- June 2014
- Supplement
Chung and Dasgupta: Information for Casey Clark
By: Ian Larkin and Karen Huang
The "Promotion Process at Chung and Dasgupta, LLP" set of cases explores the roles of general and firm-specific human capital in employee performance measurement, feedback, and promotion/compensation decisions. In the cases, a leading law firm must decide whether to... View Details
Keywords: Human Capital; Performance Evaluation; Management Systems; Compensation and Benefits; Retention; Legal Services Industry; United States; Massachusetts
Larkin, Ian, and Karen Huang. "Chung and Dasgupta: Information for Casey Clark." Harvard Business School Supplement 914-047, June 2014.
- 2018
- Working Paper
Patent Trolls: Evidence from Targeted Firms
By: Lauren Cohen, Umit G. Gurun and Scott Duke Kominers
We provide the first large-sample evidence on the behavior and impact of non-practicing entities (NPEs) in the intellectual property space. We find that on average, NPEs appear to behave as opportunistic “patent trolls.” NPEs sue cash-rich firms—and target cash in... View Details
Keywords: Patent Trolls; NPEs; PAEs; Innovation; Patents; Ethics; Lawsuits and Litigation; Innovation and Invention; Corporate Finance
Cohen, Lauren, Umit G. Gurun, and Scott Duke Kominers. "Patent Trolls: Evidence from Targeted Firms." Harvard Business School Working Paper, No. 15-002, July 2014. (Revised June 2018.)
- 2017
- Working Paper
Tort Reform and Innovation
By: Alberto Galasso and Hong Luo
Current academic and policy debates focus on the impact of tort reforms on physicians’ behavior and medical costs. This paper examines whether these reforms also affect incentives to develop new technologies. We develop a theoretical model which predicts that the... View Details
Keywords: Lawsuits and Litigation; Laws and Statutes; Innovation and Invention; Medical Devices and Supplies Industry
Galasso, Alberto, and Hong Luo. "Tort Reform and Innovation." Working Paper, August 2017. (Accepted for publication in Journal of Law and Economics.)