Publications

08 Nov 2011
First Look

First Look: Nov. 8

just after the SEC's announcement. Our results are consistent with the view that financial markets placed a positive value on shareholder access, as implemented in the SEC's August 2010 rule. Download the paper:... View Details

Keywords: Sean Silverthorne

Malcolm P. Baker

Malcolm Baker is the Robert G. Kirby Professor of Business Administration at the Harvard Business School, where he teaches the required course in finance and a short immersive program on investing in life sciences.

His research is in the... View Details

Keywords: private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds)

August 2006 (Revised October 2012)
Case

Natura: Global Beauty Made in Brazil

By: Geoffrey G. Jones and Ricardo Reisen de Pinho

Explores the globalization strategies of Natura, Brazil's largest cosmetics company. Founded in 1969, Natura grew using a direct selling model. Led by its three founders, the firm made distinctive use of Brazil's diversity and became characterized by high ethical and... View Details

Keywords: Global Strategy; Globalized Firms and Management; Globalized Markets and Industries; Corporate Social Responsibility and Impact; Beauty and Cosmetics Industry; Brazil

November 2000 (Revised February 2002)
Case

Resinas Sinteticas, S.A. (A)

By: Lynn S. Paine and Greg Rogers

A recent MBA graduate heads international marketing for his family's Mexico-based rosin supply business, he must decide how to respond to the aggressive tactics of his much larger American competitor. Among other things, the U.S. competitor is spreading false rumors... View Details

Keywords: Family Business; Cross-Cultural and Cross-Border Issues; Competition; Marketing Strategy; Business Strategy; Crime and Corruption; Trade; Chemical Industry; Mexico; United States; Europe

20 Sep 2011
Working Paper Summaries

Sovereigns, Upstream Capital Flows and Global Imbalances

Keywords: by Laura Alfaro, Sebnem Kalemli-Ozcan & Vadym Volosovych

February 2024 (Revised February 2025)
Case

Doing Business in Ho Chi Minh City, Vietnam

By: Karen G. Mills, Allison H. Mnookin, Leonard A. Schlesinger, Shu Lin, Julianne Bliss and Morgane Herculano

Le Thi Thu Thuy, Vice Chairwoman of Vingroup, the largest private conglomerate in Vietnam, and Global CEO of VinFast, Vingroup’s automotive subsidiary established in 2017, was contemplating VinFast’s future strategy. Domestically, the EV market in Vietnam was in its... View Details

Keywords: Growth and Development Strategy; Business Conglomerates; Global Strategy; Emerging Markets; Business Strategy; Infrastructure; Competition; Auto Industry; Viet Nam

January 2016 (Revised November 2019)
Case

Blackstone at Age 30

By: Josh Lerner, John D. Dionne and Amram Migdal

Since its IPO in 2007 and following the global financial crisis, Blackstone largely outpaced its alternative investment firm peers in assets under management, new business launches, profitability, and market capitalization. Under the leadership of Stephen A.... View Details

Keywords: Business Growth and Maturation; Asset Management; Private Equity; Financial Services Industry; New York (city, NY)

10 Sep 2010
Working Paper Summaries

The Impact of Corporate Social Responsibility on Investment Recommendations

Keywords: by Ioannis Ioannou & George Serafeim; Financial Services

Bank Capital and the Low Risk Anomaly

Minimum capital requirements are a central tool of banking regulation. Setting them balances a number of factors, including any effects on the cost of capital and in turn the rates available to borrowers. Standard theory predicts that, in perfect and efficient... View Details

February 2010
Article

Global Currency Hedging

By: John Y. Campbell, Karine Serfaty-de Medeiros and Luis M. Viceira

Over the period 1975 to 2005, the US dollar (particularly in relation to the Canadian dollar) and the euro and Swiss franc (particularly in the second half of the period) have moved against world equity markets. Thus these currencies should be attractive to... View Details

Keywords: Currency; Equity; Financial Markets; International Finance; Investment Return; Globalized Markets and Industries; Risk Management

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25 Oct 2024
Blog Post

Harvard Business School Announces Latest RISE Fellows

As part of the Harvard Business School (HBS) Advancing Racial Equity action plan, 26 students from the MBA Classes of 2025 and 2026 have been named recipients of a Recognizing Individuals Seeking Equity... View Details

February 2024
Supplement

JTC: Stronger Together with Shared Ownership: What JTC Did and Its Impact

By: Ethan Bernstein

Nigel Le Quesne, CEO of Jersey-based financial services firm JTC, firmly believed that "shared ownership" was at the heart of his company’s successful track record. The firm had seen its revenues, profits, and number of clients and staff grow steadily throughout its... View Details

Keywords: Employee Stock Ownership Plan; Leadership Style; Organizational Culture; Going Public; Employee Ownership; Financial Services Industry

JOSEPH L. BOWER, Donald K. David Professor Emeritus, has been a leader in general management at Harvard Business School for 51 years. He also served on the faculty of the Harvard Kennedy School during its first decade. He has served in many administrative roles... View Details

Keywords: private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds); private equity (LBO funds)

2014
Working Paper

Governing Misvalued Firms

By: Dalida Kadyrzhanova and Matthew Rhodes-Kropf

Equity overvaluation is thought to create the potential for managerial misbehavior, while monitoring and corporate governance curb misbehavior. We combine these two insights from the literatures on misvaluation and governance to ask, when does governance matter?... View Details

Keywords: Valuation; Performance; Corporate Governance