Publications

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21 May 2019
Working Paper Summaries

rTSR: When Do Relative Performance Metrics Capture Relative Performance?

Keywords: by Paul Ma, Jee-Eun Shin, and Charles C. Y. Wang; Financial Services

December 2006 (Revised May 2008)
Case

Lion Capital and the Blackstone Group: The Orangina Deal

By: G. Felda Hardymon, Josh Lerner and Ann Leamon

The managing partners of two private equity firms are hoping to forestall a third bidding round for a target company, the European beverage division of Cadbury Schweppes. As they wait to meet with the CEO, they revisit their assumptions on the deal and review the... View Details

Keywords: Mergers and Acquisitions; Private Equity; Negotiation Deal; Negotiation Process; Partners and Partnerships; Valuation; Europe

Educators

March 2018
Article

Making the Numbers? 'Short Termism' and the Puzzle of Only Occasional Disaster

By: Hazhir Rahmandad, Rebecca Henderson and Nelson P. Repenning

Much recent work in strategy and popular discussion suggests that an excessive focus on "managing the numbers"—delivering quarterly earnings at the expense of longer-term investments—makes it difficult for firms to make the investments necessary to build competitive... View Details

Keywords: Capability; Short-termism; System Dynamics; Tipping Point; Business or Company Management; Earnings Management; Resource Allocation

2018
Working Paper

Business, Governments and Political Risk in South Asia and Latin America since 1970

By: Geoffrey Jones and Rachael Comunale

This working paper provides a new perspective on how businesses have responded to political risk in South Asia and Latin America over the last half century. The existing business history literature on political risk is focused on the experiences of Western... View Details

Keywords: Business and Government Relations; Risk Management; Government and Politics; Business History; South Asia; Latin America

Read Now

July 2021
Article

Material Sustainability Information and Stock Price Informativeness

By: Jody Grewal, Clarissa Hauptmann and George Serafeim

As part of the SEC’s revision of Regulation S-K, many investors proposed the mandatory disclosure of sustainability information in the form of environmental, social, and governance (ESG) data. However, progress is contingent on collecting evidence regarding which... View Details

Keywords: Voluntary Disclosure; Accounting Standards; Sustainability; Nonfinancial Information; Corporate Social Responsibility; Stock Price Informativeness; Synchronicity; Environmental Sustainability; Corporate Disclosure; Corporate Accountability; Stocks; Price; Corporate Social Responsibility and Impact; Accounting; Standards

SSRN

20 Aug 2007
Working Paper Summaries

Hedge Fund Investor Activism and Takeovers

Keywords: by Robin Greenwood & Michael Schor; Banking

Article

Control, Performance, and Knowledge Transfers in Large Multinationals: Unilever in the United States, 1945-1980

By: G. Jones

This article considers key issues relating to the organization and performance of large multinational firms in the post-Second World War period. Although foreign direct investment is defined by ownership and control, in practice the nature of that "control" is far from... View Details

Keywords: Multinational Firms and Management; Governance Controls; Performance; Business or Company Management; Ownership; Consumer Products Industry; Manufacturing Industry; United States

Article

Multinationale et fermetures de filiales : les conséquences sociales et politiques de décisions économiques

By: Sabine Pitteloud and Leo Grob

À travers l’analyse détaillée de deux cas de fermeture de filiale dans les années 1970, cet article s’intéresse aux conséquences sociales et politiques multiples des décisions de désinvestissement des sociétés multinationales. La première étude de cas porte sur la... View Details

Keywords: Multinationals; Labor Relations; Corporate Citizenship; Business ＆ Government Relations; Disinvestment; Multinational Firms and Management; Business and Government Relations; Corporate Social Responsibility and Impact

Program

Designing and Executing Corporate Revitalization

major corporate challenges proactively, make the right strategic moves, and lead a revitalization effort that establishes a firm foundation for growth. This program is eligible for the Certificate of View Details

10 Dec 2009
Working Paper Summaries

State Owned Entity Reform in Absence of Privatization: Reforming Indian National Laboratories and Role of Leadership

Keywords: by Prithwiraj Choudhury & Tarun Khanna

01 Dec 2018
News

What I Do: Lindsey Mead (MBA 2000), Vedica Qalbani and Jessica Wu (both MBA 2007)

The search firm Ratio Advisors was founded last year on a simple but revolutionary concept: Starting a business with people who share your ideals can be as much of a driving factor as what that business does. As they spent time creating a... View Details

Keywords: Julia Hanna; illustrations by Peter and Maria Hoey

Article

Audit Quality and Auditor Reputation: Evidence from Japan

By: Douglas Skinner and Suraj Srinivasan

We study events surrounding ChuoAoyama's failed audit of Kanebo, a large Japanese cosmetics company whose management engaged in a massive accounting fraud. ChuoAoyama was PwC's Japanese affiliate and one of Japan's largest audit firms. In May 2006, the Japanese... View Details

Keywords: Audit Quality; Auditor Reputation; Japan; Accounting Audits; Crime and Corruption; Reputation; Beauty and Cosmetics Industry; Japan

SSRN

19 Feb 2019
First Look

New Research and Ideas, February 19, 2019

algorithm uncovers two distinct behavioral types: "leaders" and "managers." Leaders focus on multi-function, high-level meetings, while managers focus on one-to-one meetings with core functions. View Details

Keywords: Sean Silverthorne

2005
Article

The Rise in Firm-Level Volatility: Causes and Consequences

By: Diego Comin and Thomas Philippon

We document that the recent decline in aggregate volatility has been accompanied by a large increase in firm level risk. The negative relationship between firm and aggregate risk seems to be present across industries in the US, and across OECD countries. Firm... View Details

Keywords: Volatility; Risk Management; Relationships; Research and Development; Financing and Loans; Industry Growth; Governing Rules, Regulations, and Reforms; Economy; Outcome or Result; United States

Read Now

April 1992 (Revised March 1993)
Case

Sam Steinberg (A) and (B) (Condensed)

Covers the period from Steinberg's founding in 1917 through the company's growth to a major firm in 1969. View Details

Keywords: Management; Business Startups; Growth and Development

Educators

2007
Other Unpublished Work

Influence and Inefficiency in the Internal Capital Market

By: Julie Wulf

I model inefficient resource allocations in M-form organizations due to influence activities by division managers that skew capital budgets in their favor. Corporate headquarters receives two types of signals about investment opportunities: private signals that can be... View Details

Keywords: Capital Budgeting; Investment; Knowledge Acquisition; Managerial Roles; Resource Allocation; Power and Influence

February 2015 (Revised May 2015)
Case

Boeing 787: Manufacturing a Dream

By: Rory McDonald and Suresh Kotha

This case traces the design and development of the Boeing 787 Dreamliner. Emphasis is on executive leadership and firm strategy in coordinating across a global network of partners in the production of a new aircraft. View Details

Keywords: Innovation; Operations Strategy; Project Management; Coordination; Product Development; Operations; Production; Collaborative Innovation and Invention; Aerospace Industry; United States

Educators