Publications

January 2017 (Revised January 2019)
Case

The Rise and Fall of Lehman Brothers

By: Stuart C. Gilson, Kristin Mugford and Sarah L. Abbott

With nearly $700 billion in assets, Lehman was the largest U.S. bankruptcy in history. In 2007, Lehman achieved record earnings of over $4 billion on revenues of $60 billion. By September 2008 the fourth largest investment bank in the world was bankrupt. How had a... View Details

23 Jan 2024
News

A Wide Net

Growing up in Mumbai, Navroz Udwadia (MBA 2005) spent most of his time on the tennis court, where he was an internationally ranked athlete. Today, as cofounder and partner of Alpha Wave, a global investment group with a multibillion-dollar stake in India’s startup... View Details

Keywords: April White

Web

Bankruptcy | Baker Library | Bloomberg Center | Harvard Business School

were worth. “Lehman had broken two basic investment rules: it bought at the top of the market and it failed to diversify its bets,” Mark T. Williams writes in Uncontrolled Risk . “Commercial real estate became a millstone around Lehman’s... View Details

08 Nov 2013
HBS Seminar

Laura Diaz Anadon, Harvard Kennedy School

January – February 2012
Article

When One Business Model Isn't Enough

By: Ramon Casadesus-Masanell and Jorge Tarzijan

Trying to operate two business models at once often causes strategic failure. Yet LAN Airlines, a Chilean carrier, runs three models successfully. Casadesus-Masanell, of Harvard Business School, and Tarziján, of the Pontificia Universidad Católica de Chile, explore how... View Details

Keywords: Integration; Failure; Business Model; Service Operations; Asset Management; Value; Complexity; Competency and Skills; Business Strategy; Management Analysis, Tools, and Techniques; Risk and Uncertainty; Customer Relationship Management; Air Transportation Industry

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May 2017
Teaching Note

Partners Group: Ain't No Mountain High Enough

By: Nori Gerardo Lietz

Partners Group (PG), a Swiss-based PE manager, initiated a series of strategic shifts and evolved from a predominately fund-of-funds manager into a large, multi-asset class PE firm focused on direct investments. PG was the first PE firm to go public in 2006. A number... View Details

Keywords: Business Model; Entrepreneurship; Management Practices and Processes; Private Equity

Web

Leadership Transitions | Baker Library | Bloomberg Center | Harvard Business School

also an area of heavy growth. As the 1980s ushered in the rise of high-tech research and start-ups, Lehman Brothers, Kuhn, Loeb & Co. helped finance Cetus, an early biotech firm, as well as Intel, which created the first microprocessor.... View Details

January 2020
Article

Using Time-Driven Activity-Based Costing to Demonstrate Value in Perioperative Care: Recommendations and Review from the Society for Perioperative Assessment and Quality Improvement

By: O. Allin, R. D. Urman, A. F. Edwards, J. D. Blitz, K. J. Pfeifer, T. W. Feeley and A. M. Bader

A shift in health care payment models from volume toward value-based incentives will require deliberate input into systems development from both perioperative clinicians and administrators to ensure appropriate recognition of the value of all services... View Details

Keywords: Value-based Health Care; Outcomes; Time-Driven Activity-Based Costing; Health Care and Treatment; Cost Management; Value; Activity Based Costing and Management

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Web

Buy Now, Pay Later: Cars on Time

The Rise of Installment Selling Home Finance Cars on Time The Secondary Credit Market The Usurer's Grip Research Links Credits For the first few decades of automobile history, cars were luxury items. The people who bought them did so for... View Details

Web

Faculty & Researchers - Managing the Future of Work

Applegate Baker Foundation Professor, Sarofim-Rock Professor of Business Administration, Emerita Lynda M. Applegate is a Baker Foundation Professor at HBS and is Chair of the Advisory Committee for Harvard University’s Masters Degree of Liberal Arts in View Details

22 Feb 2018
Book

The New History of American Capitalism

Desan look to how scholars in history, law, and political science are redefining capitalism in light of the American experience. Essayists write on such diverse subjects as markets, selling of slave clothing, the Gilded Age, women’s rights, money and finance, View Details

Keywords: Manufacturing

March 2018
Case

Lufax: FinTech and the Transformation of Wealth Management in China

By: Christopher J. Malloy, Lauren H. Cohen and Anthony K. Woo

This case examines the rise and competitive positioning of Lufax, an online marketplace headquartered in Shanghai, China, and a pioneer in the origination and trading of financial assets. The company had grown at a remarkable rate, and was awarded “Trading Platform of... View Details

Keywords: Asset Management; Internet and the Web; Competitive Strategy; Situation or Environment; Product Positioning; Financial Services Industry; China

2014
Case

Microfinance Services in Rural Areas--Farmers' Self-reliance Branch of CFPA Microfinance in Shangyi County

By: F. Warren McFarlan, Siqun Yang and Meihua Shen

Microfinance is introduced into China in the 1990s. It had gone through 3 phases since the beginning, namely the pilot phase when all Microfinance practices are sponsored by charity funds based on projects, the promotion phase when the government subsidized some... View Details

Keywords: Rural Entrepreneurship; Value Added; China; Risk Management; Microfinance; China

March 2012
Article

The Incentive Bubble

By: Mihir Desai

The past three decades have seen American capitalism quietly transformed by a single, powerful idea—that financial markets are a suitable tool for measuring performance and structuring compensation. Stock instruments for managers, high-powered incentive contracts for... View Details

Keywords: Economic Systems; Financial Markets; Executive Compensation; Motivation and Incentives; Corporate Governance; Equality and Inequality; Human Capital; United States

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31 Jan 2023
Op-Ed

Can Insurance Technology Solve the Uninsured Driver Problem?

Despite mandates requiring motorists to carry car insurance, 13 percent of US drivers operate vehicles without any coverage—a problem that exposes uninsured drivers to catastrophic financial risks and leads to higher premiums for insured... View Details

Keywords: by Ray Kluender; Insurance

06 Oct 2003
Research & Ideas

The Problem with Hedge Funds

claims to have but really doesn't—any more than the mutual funds had expertise in picking dot-com stocks. The banks argue that they have expertise allowing them to pick the better hedge funds in which to invest. And they provide statistical models that supposedly... View Details

Keywords: by D. Quinn Mills

12 Jan 2016
First Look

January 12, 2016

Expenditure Panel Survey and joint probabilities of workplace exposures from the General Social Survey, and we conducted a meta-analysis of the epidemiological literature to estimate the relative risks of poor health outcomes associated... View Details

Keywords: Carmen Nobel

03 Nov 2010
Working Paper Summaries

How Did Increased Competition Affect Credit Ratings?

Keywords: by Bo Becker & Todd Milbourn; Financial Services

October 1992 (Revised September 1993)
Case

L.L. Bean, Inc.: Item Forecasting and Inventory Management

By: Arthur Schleifer Jr.

L.L. Bean must make stocking decisions on thousands of items sold through its catalogs. In many cases, orders must be placed with vendors twelve or more weeks before a catalog lands on a customer's doorstep, and commitments cannot be changed thereafter. As a result,... View Details

Keywords: Forecasting and Prediction; Risk Management; Cost Management; Risk and Uncertainty; Demand and Consumers; Order Taking and Fulfillment; Retail Industry; United States