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Show Results For
- All HBS Web
(3,684)
- People (2)
- News (761)
- Research (2,628)
- Events (26)
- Multimedia (25)
- Faculty Publications (1,538)
- 2016
- Working Paper
The Stock Market and Bank Risk-Taking
By: David S. Scharfstein and Antonio Falato
We argue that stock market pressure to generate earnings encourages banks to increase risk. We measure risk using confidential supervisory ratings as well as financial information released in regulatory filings. We document that there is an increase in the risk-taking... View Details
Keywords: Stock Market; Financial Markets; Business Earnings; Banks and Banking; Risk and Uncertainty
Scharfstein, David S., and Antonio Falato. "The Stock Market and Bank Risk-Taking." NBER Working Paper Series, No. 22689, September 2016.
- Forthcoming
- Article
Arbitrage Capital of Global Banks
By: Alyssa G. Anerson, Wenxin Du and Bernd Schlusche
We show that the role of unsecured, short-term wholesale funding for global banks has changed significantly in the post-financial-crisis regulatory environment. Global banks mainly use such funding to finance liquid, near risk-free arbitrage positions—in particular,... View Details
Keywords: Governing Rules, Regulations, and Reforms; Banks and Banking; Interest Rates; Financing and Loans
Anerson, Alyssa G., Wenxin Du, and Bernd Schlusche. "Arbitrage Capital of Global Banks." Journal of Finance (forthcoming).
- 17 May 2017
- Research & Ideas
Minorities Who 'Whiten' Job Resumes Get More Interviews
are at an even greater risk for discrimination when applying with a pro-diversity employer because you’re being more transparent,” DeCelles says. “Those companies have the same rate of discrimination, which makes you more vulnerable when... View Details
Keywords: by Dina Gerdeman
- May 2023
- Article
Gentrification and Retail Churn: Theory and Evidence
By: Edward L. Glaeser, Michael Luca and Erica Moszkowski
How does gentrification transform neighborhood retail amenities? This paper presents a model in
which gentrification harms incumbent residents by increasing rental costs and by eliminating
distinctive local stores. While rising rents can be offset with targeted... View Details
Keywords: Gentrification; Neighborhoods; Impact; Local Range; Transition; Civil Society or Community; Welfare; Economic Growth
Glaeser, Edward L., Michael Luca, and Erica Moszkowski. "Gentrification and Retail Churn: Theory and Evidence." Art. 103879. Regional Science and Urban Economics 100 (May 2023).
- July 2022
- Article
Countercyclical Prudential Buffers and Bank Risk-taking
By: Manuel Illueca, Lars Norden, Joseph Pacelli and Gregory F. Udell
We investigate the effects of countercyclical prudential buffers on bank risk-taking. We exploit the introduction of dynamic loan loss provisioning in Spain, mandating that banks use historical average loss rates in their estimation of loan loss provisions. We find... View Details
Keywords: Banks; Bank Regulation; Macroprudential Policies; Bank Lending; Loan Loss Provisioning; Risk Taking; Banks and Banking; Financing and Loans; Governing Rules, Regulations, and Reforms; Risk and Uncertainty
Illueca, Manuel, Lars Norden, Joseph Pacelli, and Gregory F. Udell. "Countercyclical Prudential Buffers and Bank Risk-taking." Art. 100961. Journal of Financial Intermediation 51 (July 2022).
- 1978
- Article
An Incentive Compatible Planning Procedure for Public Good Production
By: Jerry R. Green and Jean-Jacques Laffont
It is only recently that economic theorists have faced the fact that the proposed allocation mechanisms in economies with public goods might have bad incentive properties. In this paper we introduce a new planning procedure such that truthful revelation of the marginal... View Details
Green, Jerry R., and Jean-Jacques Laffont. "An Incentive Compatible Planning Procedure for Public Good Production." Scandinavian Journal of Economics 80, no. 1 (1978): 20–33.
- March 2022
- Article
Contractual Restrictions and Debt Traps
By: Ernest Liu and Benjamin N. Roth
Microcredit and other forms of small-scale finance have failed to catalyze entrepreneurship in developing countries. In these credit markets, borrowers and lenders often bargain over not only the interest rate but also implicit restrictions on types of investment. We... View Details
Liu, Ernest, and Benjamin N. Roth. "Contractual Restrictions and Debt Traps." Review of Financial Studies 35, no. 3 (March 2022): 1141–1182.
- 2015
- Case
Advanced Leadership Pathways: Howard Fischer, Eric Jacobsen, and Gratitude Railroad's Impact Investing
By: Rosabeth M. Kanter and Daniel Lennox-Choate
In 2013, Howard Fischer (hedge fund founder) and Eric Jacobsen (serial entrepreneur and private equity investor) established Gratitude Railroad as a community of impact investors in nine different "tracks." Each track represented a different concept for using... View Details
Keywords: Impact Investing; Environmental And Social Sustainability; Social Change; Sustainable Business And Innovation; Investment; Social Issues; Environmental Sustainability; Venture Capital; Business Startups; Entrepreneurship; Leadership; United States
Kanter, Rosabeth M., and Daniel Lennox-Choate. "Advanced Leadership Pathways: Howard Fischer, Eric Jacobsen, and Gratitude Railroad's Impact Investing." Harvard Business Publishing Case 316-047, 2015.
- February 2018
- Case
Root Capital and the Efficient Impact Frontier
By: Shawn Cole and Caitlin Reimers Brumme
In 2015 Root Capital, a pioneer in the impact investing space, began to explore how to more systematically integrate impact and financial management. After much deliberation, Root Capital landed on ex-ante rating system for any potential investment that produced a... View Details
Cole, Shawn, and Caitlin Reimers Brumme. "Root Capital and the Efficient Impact Frontier." Harvard Business School Case 218-084, February 2018.
- 2013
- Working Paper
Skilled Immigration and the Employment Structures of U.S. Firms
By: Sari Pekkala Kerr, William R. Kerr and William F. Lincoln
We study the impact of skilled immigrants on the employment structures of U.S. firms using matched employer-employee data. Unlike most previous work, we use the firm as the lens of analysis to account for a greater level of heterogeneity and the fact that many skilled... View Details
Keywords: H-1B; Firms; Scientists; Engineers; Inventors; Age; Employment; Competency and Skills; Immigration; United States
Pekkala Kerr, Sari, William R. Kerr, and William F. Lincoln. "Skilled Immigration and the Employment Structures of U.S. Firms." Working Paper, February 2013.
- November 2001 (Revised January 2002)
- Case
Monster.com: Success Beyond the Bubble
In 2001, Monster.com was an Internet site that, among other things, connected individuals seeking jobs with organizations wanting to hire. Its substitutes included help wanted classified advertising in newspapers. Monster was one of the few Internet companies that had... View Details
Keywords: Internet and the Web; Business Growth and Maturation; Service Operations; Service Delivery; Price Bubble; Growth and Development Strategy; Employment Industry
Hallowell, Roger H., and Cate Reavis. "Monster.com: Success Beyond the Bubble." Harvard Business School Case 802-024, November 2001. (Revised January 2002.)
- March 1991 (Revised May 1991)
- Case
TBIRD: The Thai Business Initiative in Rural Development
During the period of 1987 to 1990, while Thailand had one of the fastest growing economies in the world (average growth rate of 12%), the income disparity between its rural and urban population (especially Bangkok City) was growing increasingly worse. Mechai... View Details
Rangan, V. Kasturi. "TBIRD: The Thai Business Initiative in Rural Development." Harvard Business School Case 591-099, March 1991. (Revised May 1991.)
- September 1990 (Revised November 1991)
- Case
Merck & Co., Inc. (A)
Merck & Co., Inc., a major pharmaceutical company, is in the process of reviewing and evaluating its personnel policies and practices. Employee interviews revealed that rewards for excellent performance were not adequate: outstanding performers received salary... View Details
Murphy, Kevin J. "Merck & Co., Inc. (A)." Harvard Business School Case 491-005, September 1990. (Revised November 1991.)
- 01 Nov 2012
- HBS Seminar
Bill Kerr, Harvard Business School
Incentivizing Calculated Risk-Taking: Evidence from an Experiment with Commercial Bank Loan Officers
This paper uses a series of experiments with commercial bank loan officers to test the effect of performance incentives on risk-assessment and lending decisions. We first show that, while high-powered incentives lead to greater screening effort and more... View Details
- May 2014
- Article
Digital Dark Matter and the Economic Contribution of Apache
By: Shane Greenstein and Frank Nagle
Researchers have long hypothesized that research outputs from government, university, and private company R&D contribute to economic growth, but these contributions may be difficult to measure when they take a non-pecuniary form. The growth of networking devices and... View Details
Keywords: Open Source; Apache; Economic Measurement; Digital Economics; Measurement and Metrics; Open Source Distribution; Internet and the Web; Information Technology; Applications and Software; Economic Growth; Research and Development; Web Services Industry; Information Technology Industry; United States
Greenstein, Shane, and Frank Nagle. "Digital Dark Matter and the Economic Contribution of Apache." Research Policy 43, no. 4 (May 2014): 623–631. (Lead Article.)
- December 2001 (Revised February 2003)
- Case
Netherlands:The, A "Third Way?"
By: Bruce R. Scott and Jamie Matthews
The economic success of The Netherlands in the 1960s can be attributed to Dutch wages that were kept substantially below those in neighboring countries. But increased pressures in the 1970s led to a wage explosion, which in turn pushed unemployment and disguised... View Details
- 2000
- Working Paper
The Drivers of National Innovative Capacity: Implications for Spain and Latin America
By: Michael E. Porter, Jeffrey L. Furman and Scott Stern
In the past decade, both academic scholars and policymakers have focused increasing attention on the central role that technological innovation plays in economic growth. There are at least two distinct reasons for this increased interest. First, though economists have... View Details
Porter, Michael E., Jeffrey L. Furman, and Scott Stern. "The Drivers of National Innovative Capacity: Implications for Spain and Latin America." Harvard Business School Working Paper, No. 01-004, May 2000.
- July–August 2023
- Article
Case Study: How Should a Start-Up Cut Its Burn Rate?
By: Nitin Nohria, Katie Josephson, Sophia Wronsky and Elizabeth Rha
Tyler Smith, the founder and CEO of the enterprise software firm Puck.io, is facing a hard decision. Just three months earlier the company laid off 20% of its employees to reduce its burn rate amid growing economic uncertainty and a suddenly unattractive funding... View Details
Keywords: Employees; Job Cuts and Outsourcing; Governing and Advisory Boards; Business and Shareholder Relations; Business or Company Management; Business Startups
Nohria, Nitin, Katie Josephson, Sophia Wronsky, and Elizabeth Rha. "Case Study: How Should a Start-Up Cut Its Burn Rate?" Harvard Business Review 101, no. 4 (July–August 2023): 144–149.
- September 2018
- Article
Aggregation of Consumer Ratings: An Application to Yelp.com
By: Weijia Dai, Ginger Jin, Jungmin Lee and Michael Luca
Because consumer reviews leverage the wisdom of the crowd, the way in which they are aggregated is a central decision faced by platforms. We explore this "rating aggregation problem" and offer a structural approach to solving it, allowing for (1) reviewers to vary in... View Details
Keywords: User Generated Content; Crowdsourcing; Yelp; Social and Collaborative Networks; Information; Internet and the Web; Learning; Mathematical Methods; E-commerce
Dai, Weijia, Ginger Jin, Jungmin Lee, and Michael Luca. "Aggregation of Consumer Ratings: An Application to Yelp.com." Quantitative Marketing and Economics 16, no. 3 (September 2018): 289–339.