Publications

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June 2019
Case

Fangda Partners: A Step Ahead

By: Ashish Nanda and Lisa Rohrer

Elite Chinese law firm Fangda Partners has steered Alibaba and other Chinese and international clients through the complex legal, corporate, and regulatory challenges associated with executing international transactions. “Fangda has traveled a long distance in a short... View Details

Keywords: Law Firm; Law Firms; Growth; Legal Industry; Regulation; Professional Services; Law; Leadership; Growth and Development; Strategy; Governing Rules, Regulations, and Reforms; Legal Services Industry; China

September 2013
Article

Combining Banking with Private Equity Investing

By: Lily H. Fang, Victoria Ivashina and Josh Lerner

Bank-affiliated private equity groups account for 30% of all private equity investments. Their market share is highest during peaks of the private equity market, when the parent banks arrange more debt financing for in-house transactions yet have the lowest exposure to... View Details

Keywords: Regulation; Private Equity; Leveraged Buyouts; Banks and Banking; Banking Industry

SSRN

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Web

Investing in Emerging Industries | Baker Library | Bloomberg Center | Harvard Business School

Introduction 1840s – 1880s General Merchants to Commodities Brokers 1880s – 1920s Investment Banking & Securities Underwriting 1920s – 1960s Investing in Emerging Industries 1850–1968 Lehman Brothers Family Partners 1960s – 2000s... View Details

March 2013 (Revised August 2014)
Case

Indonesia's OJK: Building Financial Stability

By: Lakshmi Iyer and David Lane

In 2013, a new financial services authority, the Otoritas Jasa Keuangan (OJK), took over responsibility for regulating capital markets and non-bank financial institutions in Indonesia. OJK was scheduled to take over bank regulation and supervision from the central... View Details

Keywords: Monetary Policy; Bank Regulation; Financial Market Regulation; Corruption; Bureaucracy; Central Bank Independence; Indonesia; Crime and Corruption; Central Banking; Ethics; Emerging Markets; Financial Markets; Corporate Governance; Financial Crisis; Financial Strategy; Financial Services Industry; Indonesia

2022
Article

Dynamic Pricing Algorithms, Consumer Harm, and Regulatory Response

By: Alexander MacKay and Samuel N. Weinstein

Pricing algorithms are rapidly transforming markets, from ride-sharing apps, to air travel, to online retail. Regulators and scholars have watched this development with a wary eye. Their focus so far has been on the potential for pricing algorithms to facilitate... View Details

Keywords: Competition Policy; Regulation; Algorithmic Pricing; Dynamic Pricing; Economics; Law And Economics; Law And Regulation; Consumer Protection; Antitrust Law; Industrial Organization; Antitrust Issues And Policies; Technological Change: Choices And Consequences; Competition; Policy; Price; Governing Rules, Regulations, and Reforms; Microeconomics; Duopoly and Oligopoly; Law

SSRN

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January 2013 (Revised October 2014)
Case

Barclays and the LIBOR Scandal

By: Clayton S. Rose and Aldo Sesia

In June of 2012, Barclays plc admitted that it had manipulated LIBOR—a benchmark interest rate that was fundamental to the operation of international financial markets and that was the basis for trillions of dollars of financial transactions. Between 2005 and 2009... View Details

Keywords: Financial Systems; Financial Services; Corruption; Regulation; General Management; Management; Leadership; Economic Systems; Crime and Corruption; Ethics; Culture; Banking Industry; Banking Industry; United Kingdom

Article

Spontaneous Deregulation: How to Compete with Platforms That Ignore the Rules

By: Benjamin Edelman and Damien Geradin

Many successful platform businesses—think Airbnb, Uber, and YouTube—ignore laws and regulations that appear to preclude their approach. The rule-flouting phenomenon is something we call "spontaneous private deregulation," and it is not new. Benign or otherwise,... View Details

Keywords: Regulation; Deregulation; Innovation And Strategy; Innovation Strategy; Laws and Statutes; Transportation Industry; Transportation Industry; Transportation Industry; Transportation Industry

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August 2015 (Revised October 2017)
Case

Turnaround at Norsk Gjenvinning (A)

By: George Serafeim

Erik Osmundsen, CEO of Norsk Gjenvinning (NG), had initiated a program to strenghten corporate governance, eliminate corruption and improve compliance, and as a result the company had experienced a turnover of almost half of its top 70 line managers and strained... View Details

February 2017
Case

Clear Channel (A): The Rise, 1972–2003

By: John R. Wells and Gabriel Ellsworth

At the end of 2003, Clear Channel Communications, Inc., a diversified media group with revenues of $8.9 billion, could claim leadership positions in all three of its main businesses. Clear Channel Broadcasting was the largest radio-station operator in the world, with... View Details

Keywords: Clear Channel; Clear Channel Outdoor; Radio; Outdoor Advertising; Concert Industry; Lowry Mays; Federal Communications Commission; Regulation; Regulations; Regulatory Environment; JCDecaux; Media; Growth Management; Consolidation; Competitive Strategy; Fair Value Accounting; Advertising; Acquisition; Mergers and Acquisitions; Business Growth and Maturation; For-Profit Firms; Entertainment; Music Entertainment; Television Entertainment; Public Equity; Profit; Revenue; Geographic Scope; Multinational Firms and Management; Government Legislation; Business History; Laws and Statutes; Business or Company Management; Growth and Development Strategy; Marketing Channels; Industry Structures; Public Ownership; Problems and Challenges; Sales; Opportunities; Strategy; Adaptation; Business Strategy; Commercialization; Competition; Competitive Advantage; Corporate Strategy; Diversification; Expansion; Wireless Technology; Valuation; Media and Broadcasting Industry; Media and Broadcasting Industry; Media and Broadcasting Industry; Media and Broadcasting Industry; United States; Texas

December 2008 (Revised October 2013)
Case

Amylin Pharmaceuticals: Diabetes and Beyond (A)

By: Richard G. Hamermesh and Rachel Gordon

Ginger Graham, CEO of Amylin Pharmaceuticals, joined the company with the expectation of taking the company's signature drug, Symlin, to market. However, unforeseen regulatory challenges have put the approval process in jeopardy. At the same time, the company has a... View Details

Keywords: Regulations; Drug Regulations; Symlin; Negotiation; Governing Rules, Regulations, and Reforms; Resource Allocation; Negotiation Deal; Product Development; Research and Development; Commercialization; Pharmaceutical Industry; United States

01 Apr 2009
Working Paper Summaries

The Contingent Nature of Public Policy and Growth Strategies in the Early Twentieth-Century U.S. Banking Industry

Keywords: by Christopher Marquis & Zhi Huang; Banking

June 2015 (Revised November 2015)
Case

Akbank: Options in Digital Banking

By: Rajiv Lal and Esel Çekin

This case discusses the digitalization strategies of a leading bank in Turkey, Akbank, and how to position its digital banking products going forward. The Turkish banking industry was undergoing a transformation prompted by the demands of the country's digitally savvy,... View Details

Keywords: Marketing; Banking; Emerging Market; Regulations; Channels; Digitization; Information Technology; Competition; Brands and Branding; Organizational Change and Adaptation; Emerging Markets; Distribution Channels; Banks and Banking; Digital Transformation; Banking Industry; Banking Industry; Turkey

March 2015
Case

Statoil: Transparency on Payments to Governments

By: George Serafeim

The Statoil case describes the challenge of increasing transparency, in extractive industries, around host county government payments. The case describes Statoil's reasoning behind voluntarily disclosing host country government payments, and the events that led to this... View Details

Keywords: Corruption; Disclosure; Disclosure Strategy; Regulation; Industry Self-regulation; Corporate Governance; Corporate Accountability; Bribery; Sustainability; Corporate Social Responsibility; Government Legislation; Cost vs Benefits; Corporate Disclosure; Mining; Mining Industry; United States

February 2016
Supplement

The Maggi Noodle Safety Crisis in India (C)

By: Karthik Ramanna and Radhika Kak

The local government in Delhi has ordered a ban on Nestlé's flagship product in India—Maggi Noodles, citing excessive lead content per government lab tests. Nestlé disputes the government tests, noting that internal and third-party tests show the product to be safe.... View Details

Keywords: Multinationals; Globalization; Regulation; Customer Relations; Business And Government; Safety; Leadership; Food; Multinational Firms and Management; Governance Compliance; Crisis Management; Customer Focus and Relationships; Business and Government Relations; Food and Beverage Industry; Delhi

July 2017
Teaching Plan

'Clarín Lies!': Bias, Post-Truth, and Populism in Argentina's Media War

By: Rafael Di Tella and Sarah McAra

Teaching Note for HBS No. 718-008. View Details

Keywords: Media Regulation; Media; Government and Politics; Policy; Newspapers; Government Legislation; Business and Government Relations; Risk and Uncertainty; Monopoly; Journalism and News Industry; Journalism and News Industry; Argentina

February 2016 (Revised June 2016)
Supplement

The Maggi Noodle Safety Crisis in India (B)

By: Karthik Ramanna and Radhika Kak

The local government in Delhi has ordered a ban on Nestlé's flagship product in India—Maggi Noodles, citing excessive lead content per government lab tests. Nestlé disputes the government tests, noting that internal and third-party tests show the product to be safe.... View Details

Keywords: Multinationals; Globalization; Regulation; Customer Relations; Business And Government; Safety; Leadership; Food; Multinational Firms and Management; Governance Compliance; Crisis Management; Customer Focus and Relationships; Business and Government Relations; Food and Beverage Industry; Delhi

January 2021 (Revised March 2022)
Case

Brigad: The Future of Work

By: Nien-he Hsieh, Elena Corsi and Daniela Beyersdorfer

In 2019 Florent Malbranche, CEO and co-founder of the French tech startup Brigad, pondered the next growth steps. Founded in 2015, Brigad’s objective was two-fold: to help restaurants and bars find qualified staff for punctual shifts, and to make it easier for... View Details

Keywords: Platform Business; Gig Economy; Regulation; Entrepreneurship; Marketplace Matching; Growth and Development Strategy

February 2015
Case

Longbow Capital Partners

By: Malcolm Baker, Samuel G. Hanson and James Weber

Longbow Capital Partners is a value-oriented long/short hedge fund focused on stocks in the energy sector. In January 2011, Longbow had invested in NiSource, a Fortune 500 company that owns a diverse portfolio of regulated energy businesses. In late 2014, Longbow was... View Details

Keywords: Value Investing; Investment Strategy; Dividend Yield; Intrinsic Value; Dividend Discount Model; Master Limited Partnership; Hedge Fund; Energy Industry; Regulation; Utilities; Finance; Financial Services Industry; United States

January 2022 (Revised November 2023)
Supplement

Uber in China (C): The Cost of Success for Didi

By: William C. Kirby and Noah B. Truwit

On June 30, 2021, ride-hailing giant Didi Chuxing (Didi) raised $4.4 billion in its initial public offering (IPO) on the New York Stock Exchange (NYSE), the largest IPO of a Chinese company listed on an American exchange since Alibaba raised $25 billion in 2014.... View Details

Keywords: Uber; Didi Chuxing; Start-up Growth; Regulation; Ride-sharing; Transportation; Business Startups; Business and Government Relations; Cross-Cultural and Cross-Border Issues; Growth and Development; Policy; Competition; Laws and Statutes; Transportation Industry; Transportation Industry; China