Publications

27 Jan 2015
First Look

First Look: January 27

not had lower costs of equity (lower stock returns), consistent with a stock market anomaly previously documented in other samples. A calibration suggests that a binding 10 percentage point increase in Tier 1 capital to risk-weighted... View Details

Keywords: Sean Silverthorne

Location Choices under Strategic Interactions

The literature on location choices has mostly emphasized the impact of location and firm characteristics. However, most industries with a significant presence of multi-location firms are oligopolistic in nature, which suggests that strategic interaction among firms... View Details

June 2017
Article

The Social Trajectory of a Finance Professor and the Common Sense of Capital

By: Marion Fourcade and Rakesh Khurana

This paper traces the career of Michael Jensen, a Chicago finance PhD turned Harvard Business School professor to reveal the intellectual and social conditions that enabled the emergence and institutionalization of what we call the “neoliberal common sense of capital,”... View Details

Keywords: Executive Pay; The Firm; Michael Jensen; Neo-Liberalism; Shareholder Value; Agency Theory; Corporate Governance; Executive Compensation; Business and Shareholder Relations; Transformation

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December 2004 (Revised February 2005)
Case

Cheetah Conservation Fund Bush Project, The

Laurie Marker, head of the Cheetah Conservation Fund, is trying to form a for-profit institution, the Bush Project, to control the bush encroachment problem in Namibia. Bush encroachment not only destroys the general ecosystem, but it also has a harmful impact on the... View Details

Keywords: Social Enterprise; For-Profit Firms; Emerging Markets; Environmental Sustainability; Financial Strategy; Africa

Research Summary

Technology and Knowledge Transfer in the Evolution of China’s Machine Industry

This work-in-progress provides a historical perspective on the role of foreign companies as providers of machinery equipment and facilitators of technology transfer in China from the last decade of the 19^th century to the early 1950s. The project focuses on... View Details

August 2024
Case

Circle: Reinventing the Future of Money

By: Shikhar Ghosh and Shweta Bagai

In early 2024, Circle Internet Financial's leadership team gathered to discuss the company's strategic path as it prepared for an IPO. Founded in 2013 by Jeremy Allaire, Circle had emerged as a pioneer in digital finance through its USD Coin (USDC), a regulated... View Details

May 2016 (Revised April 2019)
Case

Olivia Lum: Wanting to Save the World

By: Geoffrey Jones and Essie Alamsyah

This case considers the entrepreneurial career of Olivia Lum, who founded the Singaporean water company Hyflux in 1989. An orphan born in Malaysia, Lum provides a rare case of an entrepreneurial success in a country whose economic success has primarily rested on... View Details

January 2019 (Revised March 2021)
Case

SoundCloud: Subscription Streaming?

By: Ashish Nanda, Eric Van den Steen, Andy Wu, Jeffrey Boyar and Bonnie Bennett Slater

Established in 2007, SoundCloud already boasted the second largest number of active music listeners among all streaming services and was recognized as the go-to platform for new artists by early 2014. Yet, its founders were questioning the robustness of the firm’s... View Details

Web

Faculty & Advisors | MBA

Technology Chris leads MPM Capital’s public market investing as portfolio manager for BioImpact Equities (formerly known as Burrage Capital) and the Oncology Impact Funds. Previously, Chris was a health care analyst at Fidelity... View Details

August 2020 (Revised March 2021)
Case

Migros Turkey: Scaling Online Operations (A)

By: Antonio Moreno and Gamze Yucaoglu

The case opens in November 2019 as Ozgur Tort and Mustafa Bartin, CEO and chief large-format and online retail officer of Migros Ticaret A.S. (Migros), Turkey’s oldest and one of its largest supermarket chains, are contemplating what the best fulfillment format and... View Details

Keywords: Retail; Grocery; Business Model; Emerging Markets; For-Profit Firms; Strategy; Digital Platforms; Information Technology; Technology Adoption; Value Creation; Globalization; Competition; Expansion; Logistics; Profit; Resource Allocation; Corporate Strategy; Turkey

Teaching Interest

Doing Business in Africa

By: John D. Macomber

This course introduces frameworks and models for smart and focused investing and operations across sectors, nations, industries, and time frames in Africa. Students will learn tools and skills to help navigate the business landscape of Africa in terms of selection... View Details

Keywords: Africa

January 2008 (Revised March 2009)
Case

Framedia (A) Abridged

By: Li Jin, Carliss Y. Baldwin, Li Liao, Huabing Li and Jielun Zhu

Examines an acquisition in the highly competitive outdoor media advertising industry in China in late 2005. The transaction leads to eventual consolidation of the whole industry and positive stock reactions. Discusses equity consideration in the context of an M&A... View Details

Keywords: Mergers and Acquisitions; Venture Capital; Equity; Private Equity; Corporate Governance; Emerging Markets; Organizations; Consolidation; Valuation; Advertising Industry; China

Article

Marginality and Problem-Solving Effectiveness in Broadcast Search

By: Lars Bo Jeppesen and Karim R. Lakhani

We examine who the winners are in science problem-solving contests characterized by open broadcast of problem information, self-selection of external solvers to discrete problems from the laboratories of large R&D intensive companies, and blind review of solution... View Details

Keywords: Competition; Open Source Distribution; Knowledge Use and Leverage; Markets; Independent Innovation and Invention; Problems and Challenges; Research and Development; Gender; Science

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August 2009
Supplement

The TSMC Way: Meeting Customer Needs at Taiwan Semiconductor Manufacturing Company (CW)

By: Willy C. Shih

When L.C. Tu receives an emergency order, he is confronted with a range of production scheduling choices, each of which has unique costs and trade-offs. The case was designed to help students understand job-shop style production and the impact of disruptions and... View Details

Keywords: Factories, Labs, and Plants; Disruption; Customer Focus and Relationships; Cost; Cost Management; Business or Company Management; Time Management; Network Effects; Production; Hardware; Manufacturing Industry; Semiconductor Industry; Taiwan

12 Oct 1999
Research & Ideas

Porter’s Perspective: Competing in the Global Economy

Although clusters are most prevalent in advanced economies, you say that they're one of the essential steps for countries moving in that direction. How are clusters nurtured in emerging nations? A: Many developing countries have... View Details

Keywords: Re: Michael E. Porter

02 Jan 2024
Research & Ideas

10 Trends to Watch in 2024

The lightning-fast ascent of generative AI isn’t the only sea change on the horizon for businesses in the new year. The global economy is in flux as war, climate change, trade issues, and infrastructure problems demand attention. Many companies continue to struggle to... View Details

Keywords: by Rachel Layne

July 2016 (Revised October 2018)
Case

Tolaram: Innovating in Africa

By: Derek van Bever and Efosa Ojomo

Tolaram is a Singaporean company that began operations selling textiles in Nigeria in the 1970s. Executives and brothers, Haresh and Sajesh Aswani, however, saw an opportunity to create an instant noodle market in the country. In 1988, they began importing Indomie... View Details

Keywords: Fast Moving Consumer Goods; Business Model; Disruptive Innovation; Vertical Integration; Emerging Markets; Consumer Products Industry; Nigeria; Africa

Web

Strategy - Doctoral

Rose Economic development Tarun Khanna Sophus A. Reinert Meg Rithmire Economics Laura Alfaro Alex Chan Ebehi Iyoha Raffaella Sadun Dennis A. Yao Emerging markets DJ DiDonna Mattias E. Fibiger Tarun Khanna... View Details

April 1998 (Revised November 1999)
Case

Hambrecht & Quist

By: Thomas J. DeLong and Nicole Tempest

Hambrecht & Quist (H&Q), an investment bank headquartered in San Francisco, has a very unique culture relative to its Wall Street counterparts. Firm members and even competitors describe the culture as entrepreneurial, team-driven, non-bureaucratic, and... View Details

Keywords: Mergers and Acquisitions; Corporate Entrepreneurship; Investment Banking; Growth and Development Strategy; Emerging Markets; Organizational Culture; Competitive Advantage; Banking Industry; San Francisco