Publications
Publications
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(1,467)
- Faculty Publications (199)
- Editorial
Why CEOs Should Share Their Long-Term Plans with Investors
By: Christina Rehnberg, George Serafeim and Brian Tomlinson
Rather than requiring less short-term information, the key to combating short-termism is to encourage companies to share more information about their long-term plans. Analysis of companies that have done so suggests that long-term plans are not mere marketing... View Details
- June 2018
- Article
Deviations from Covered Interest Rate Parity
By: Wenxin Du, Alexander Tepper and Adrien Verdelhan
We find that deviations from the covered interest rate parity (CIP) condition imply large, persistent, and systematic arbitrage opportunities in one of the largest asset markets in the world. Contrary to the common view, these deviations for major currencies are not... View Details
- 2018
- Working Paper
The Welfare Effects of Peer Entry in the Accommodation Market: The Case of Airbnb
By: Chiara Farronato and Andrey Fradkin
We study the effects of enabling peer supply through Airbnb in the accommodation industry. We present a model of competition between flexible and dedicated sellers - peer hosts and hotels - who provide differentiated products. We estimate this model using data from... View Details
- January–February 2018
- Article
The Leader's Guide to Corporate Culture: How to Manage the Eight Critical Elements of Organizational Life
By: Boris Groysberg, Jeremiah Lee, Jesse Price and J. Yo-Jud Cheng
Executives are often confounded by culture, because much of it is anchored in unspoken behaviors, mindsets, and social patterns. But when properly managed, culture can help them achieve change and build organizations that will thrive in even the most trying times. In... View Details
- November–December 2017
- Article
Match Your Own Price? Self-Matching as a Retailer's Multichannel Pricing Strategy
By: Pavel Kireyev, Vineet Kumar and Elie Ofek
Multichannel retailing has created several new strategic choices for retailers. With respect to pricing, an important decision is whether to offer a “self-matching policy,” which allows a multichannel retailer to offer the lowest of its online and store prices to... View Details
- August 2017 (Revised November 2017)
- Case
Accounting for Political Risk at AES
By: Gerardo Pérez Cavazos and Suraj Srinivasan
As a global energy generating company, AES frequently faces challenges from political changes and instability. This is exacerbated by the fact that in many instances AES' primary customer is the government, which is also in charge of law-making. For example, AES'... View Details
- May 2017
- Case
CNS Worldwide
By: Robert J. Dolan and Karthik Easwar
CNS Worldwide has long been the market share leader in the IaaS cloud server market, yet it has remained unprofitable for years. Industry capacity utilization is low, and prices have declined over 70% over the last decade. CNS is considering withdrawing from the market... View Details
- Article
The Impact of Forward-Looking Metrics on Employee Decision-Making: The Case of Customer Lifetime Value
By: Pablo Casas-Arce, Asis Martinez Jerez and V.G. Narayanan
This paper analyzes the effects of forward-looking metrics on employee decision-making. We use data from a bank that started providing branch managers with the customer lifetime value (CLV)—an estimate of the future value of the customer relationship—of mortgage... View Details
- 2018
- Working Paper
Global Portfolio Diversification for Long-Horizon Investors
By: Luis M. Viceira and Zixuan (Kevin) Wang
This paper conducts a theoretical and empirical investigation of global portfolio diversification for long-horizon investors in the presence of permanent cash flow shocks and transitory discount rate shocks to asset prices and returns. An increase in the cross-country... View Details
- Article
The Effects of Product Line Breadth: Evidence from the Automotive Industry
By: Antonio Moreno and Christian Terwiesch
Using a detailed data set from the U.S. automotive industry, we enrich the existing literature on product line breadth with new results that highlight previously unexplored operational aspects of its benefits and costs. We find that expanding product line breadth has a... View Details
- Article
Repairing the Damage: The Effect of Price Knowledge and Gender on Auto-Repair Price Quotes
By: Meghan Busse, Ayelet Israeli and Florian Zettelmeyer
In this paper we investigate whether sellers treat consumers differently on the basis of how well informed consumers appear to be. We implement a large-scale field experiment in which callers request price quotes from automotive repair shops. We show that sellers alter... View Details
- January 2017 (Revised August 2019)
- Case
X Fire Paintball & Airsoft: Is Amazon a Friend or Foe? (A)
By: Feng Zhu and Angela Acocella
Three years after launching his brick-and-mortar store, X Fire Paintball and Airsoft, Steve Herbert Sr. and his sons began selling products on Amazon.com’s third-party Marketplace, and online sales expanded rapidly. Over time, X Fire noticed that products of which it... View Details
- January 2017 (Revised August 2019)
- Supplement
X Fire Paintball & Airsoft: Is Amazon a Friend or Foe? (B)
By: Feng Zhu and Angela Acocella
Three years after launching his brick-and-mortar store, X Fire Paintball and Airsoft, Steve Herbert Sr. and his sons began selling products on Amazon.com’s third-party Marketplace and online sales expanded rapidly. Over time, X Fire noticed that products of which it... View Details
- Article
Are Online and Offline Prices Similar? Evidence from Large Multi-Channel Retailers
By: Alberto Cavallo
Online prices are increasingly used for measurement and research applications, yet little is known about their relation to prices in physical stores, where most retail transactions occur. I conduct the first large-scale comparison of prices simultaneously collected... View Details
- November 2016 (Revised December 2016)
- Module Note
Strategy Execution Module 8: Linking Performance to Markets
By: Robert Simons
This module reading shows how to link profit plans and other performance measurement systems to both internal and external markets. Starting with the transfer of goods and services within a firm, the module discusses the different methods of designing transfer pricing... View Details
- Article
Distance and Political Boundaries: Estimating Border Effects under Inequality Constraints
By: Fernando Borraz, Alberto Cavallo, Roberto Rigobon and Leandro Zipitria
The border effects literature finds that political boundaries have a large impact on relative prices across locations. In this paper we show that the standard empirical specification suffers from selection bias, and propose a new methodology based on binned-quantile... View Details
- Article
The Perils of Proactive Churn Prevention Using Plan Recommendations: Evidence from a Field Experiment
By: Eva Ascarza, Raghuram Iyengar and Martin Schleicher
Facing the issue of increasing customer churn, many service firms have begun recommending pricing plans to their customers. One reason behind this type of retention campaign is that customers who subscribe to a plan suitable for them should be less likely to churn... View Details
- October 2015
- Case
Facebook: The First Ten Years
By: Shane Greenstein, Marco Iansiti and Christine Snively
Facebook celebrated its ten year anniversary in February 2014. Over the past decade it has grown into the largest social network in the world with one billion users. After filing an IPO in 2012 at a $104 billion valuation (the third largest IPO in U.S. history), the... View Details
- March 2015
- Article
Monetary Policy and Long-Term Real Rates
By: Samuel G. Hanson and Jeremy C. Stein
Changes in monetary policy have surprisingly strong effects on forward real rates in the distant future. A 100 basis point increase in the two-year nominal yield on a Federal Open Markets Committee announcement day is associated with a 42 basis point increase in the... View Details
- 2015
- Working Paper
Match Your Own Price? Self-Matching as a Retailer's Multichannel Pricing Strategy
By: Pavel Kireyev, Vineet Kumar and Elie Ofek
Multichannel retailing has created several new strategic choices for firms. With respect to pricing, an important decision is whether to offer a "self-matching policy." Self-matching allows a multichannel retailer to offer the lowest of its online and in-store prices... View Details