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- All HBS Web
(1,595)
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- News (221)
- Research (1,151)
- Events (6)
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- March 2016 (Revised November 2021)
- Teaching Note
T-Mobile in 2013: The Un-Carrier
By: John Beshears and Francesca Gino
By 2013, the U.S. wireless industry was in the midst of a costly transition. As consumers began to embrace more sophisticated mobile devices, the industry's four main players spent heavily to improve their infrastructures for providing reliable high-speed data... View Details
- March 2014 (Revised October 2014)
- Teaching Note
ISS A/S: The Buyout
By: Lucy White and Carsten Bienz
Provides the opportunity to value a leveraged buyout; and to examine the nature and extent of a company's responsibilities to its bondholders. Here, the context is a "going private" transaction in Europe, where the financing plan called for the addition to the... View Details
Keywords: LBO; Private Equity; Contracts; Global Business; International Business; Finance; Ethics; Law; Service Industry; Europe
- February 2014 (Revised October 2014)
- Case
ISS A/S: The Buyout
By: Clayton Rose, Carsten Bienz and Lucy White
Provides the opportunity to value a leveraged buy-out; and to examine the nature and extent of a company's responsibilities to its bondholders. Here, the context is a "going private" transaction in Europe, where the financing plan called for the addition to the... View Details
Keywords: LBO; Private Equity; Contracts; Global Business; International Business; Finance; Ethics; Law; Service Industry; Europe
Rose, Clayton, Carsten Bienz, and Lucy White. "ISS A/S: The Buyout." Harvard Business School Case 214-027, February 2014. (Revised October 2014.)
- 2016
- Article
The Mirroring Hypothesis: Theory, Evidence, and Exceptions
By: Lyra J. Colfer and Carliss Y. Baldwin
The mirroring hypothesis predicts that organizational ties within a project, firm, or group of firms (e.g., communication, collocation, employment) will correspond to the technical dependencies in the work being performed. This article presents a unified picture of... View Details
Keywords: Modularity; Mirroring Hypothesis; Organization Design; Conway's Law; Knowledge Boundaries; Relational Contracts; Open Source Software; Organizational Design; Organizational Structure; Boundaries; Knowledge Management; Applications and Software
Colfer, Lyra J., and Carliss Y. Baldwin. "The Mirroring Hypothesis: Theory, Evidence, and Exceptions." Industrial and Corporate Change 25, no. 5 (2016): 709–738. (Lead Article.)
- June 2014
- Supplement
ISS/AS The Buyout—spreadsheet supplement
By: Lucy White
Keywords: LBO; Private Equity; Contracts; Global Business; International Business; Finance; Ethics; Law; Service Industry; European Union
- 2022
- Working Paper
The Issuance and Design of Sustainability-linked Loans
By: Maria Loumioti and George Serafeim
Sustainability-linked loans (i.e., syndicated loans for which pricing is linked to a sustainability performance indicator) have rapidly evolved into a significant private debt product. We find that sustainability-linked lending has been available mostly to borrowers... View Details
Keywords: Sustainability; Sustainability Management; Credit Products; Loan Contracts; Loans; Corporate Finance; Credit Risk; Environment; ESG; ESG Ratings; Climate Change; Finance; Borrowing and Debt; Risk and Uncertainty; Credit
Loumioti, Maria, and George Serafeim. "The Issuance and Design of Sustainability-linked Loans." Harvard Business School Working Paper, No. 23-027, November 2022.
- May 2013 (Revised September 2013)
- Case
The Kashagan Production Sharing Agreement (PSA)
By: Benjamin C. Esty and Florian Bitsch
When discovered in the 1990s, the Kashagan oil field was the second largest oil field in the world. The project sponsors (equity investors) signed a 40-year production sharing agreement (PSA) with the Kazakh government in 1997, with the expectation the field would... View Details
Keywords: Contracts; Oil ＆ Gas; Project Finance; Kazakhstan; Asia; ENI; Risk Management; Economic Development; Project Management; Expropriation; Product Sharing Agreement; Negotiation; Agreements and Arrangements; Development Economics; Energy Sources; Capital Budgeting; International Finance; Valuation; Joint Ventures; Energy Industry; Asia; Kazakhstan; Italy
Esty, Benjamin C., and Florian Bitsch. "The Kashagan Production Sharing Agreement (PSA)." Harvard Business School Case 213-082, May 2013. (Revised September 2013.)
- 2021
- Working Paper
Exclusive Dealing and Entry by Competing Two-Sided Platforms
By: Cristian Chica, Kenneth Chuk and Jorge Tamayo
We study competition between horizontally differentiated platforms offering exclusive and non-exclusive contracts to one side of the market (content providers). The introduction of non-exclusive contracts in addition to exclusive contracts softens the competition for... View Details
Keywords: Two-Sided Markets; Platform Price Competition; Network Externalities; Exclusive Contracts; Multi-homing; Digital Platforms; Price; Competition; Contracts
Chica, Cristian, Kenneth Chuk, and Jorge Tamayo. "Exclusive Dealing and Entry by Competing Two-Sided Platforms." Harvard Business School Working Paper, No. 21-092, March 2021. (R&R International Journal of Industrial Organization.)
- August 2019
- Article
Cadet-Branch Matching in a Kelso-Crawford Economy
By: Ravi Jagadeesan
Sönmez (2013) and Sönmez and Switzer (2013) used matching theory with unilaterally substitutable priorities to propose mechanisms to match cadets to military branches. This paper shows that, alternatively, the Sönmez and Sönmez–Switzer mechanisms can be constructed as... View Details
Jagadeesan, Ravi. "Cadet-Branch Matching in a Kelso-Crawford Economy." American Economic Journal: Microeconomics 11, no. 3 (August 2019): 191–224.
- 2020
- Working Paper
Incentive Power and Knowledge Sharing Among Employees: Evidence from the Field
By: Wei Cai, Susanna Gallani and Jee-Eun Shin
There is consensus, both in the literature and in practice, about knowledge sharing within organizations being a key determinant of success. However, organizations struggle to sustain employees’ engagement in knowledge sharing. One challenge lies in the fact that,... View Details
Keywords: Organizational Knowledge Sharing; Employee Driven Innovation; Innovation Appropriability; Contract Design; High-powered Incentives; Low-powered Incentives; Incentives; Pay-for-Performance; Rank-and-file; Employees; Knowledge Sharing; Innovation and Invention; Motivation and Incentives; Creativity; Performance
Cai, Wei, Susanna Gallani, and Jee-Eun Shin. "Incentive Power and Knowledge Sharing Among Employees: Evidence from the Field." Harvard Business School Working Paper, No. 19-015, August 2018. (Revised April 2020.)
- April 2019
- Article
Internalizing Global Value Chains: A Firm-Level Analysis
By: Laura Alfaro, Pol Antràs, Davin Chor and Paola Conconi
In recent decades, advances in information and communication technology and falling trade barriers have led firms to retain within their boundaries and in their domestic economies only a subset of their production stages. A key decision facing firms worldwide is the... View Details
Keywords: Global Value Chains; Sequential Production; Incomplete Contracts; Demand and Consumers; Customer Value and Value Chain; Globalization
Alfaro, Laura, Pol Antràs, Davin Chor, and Paola Conconi. "Internalizing Global Value Chains: A Firm-Level Analysis." Journal of Political Economy 127, no. 2 (April 2019): 508–559. (See Online Appendix. Replications files available here. Also NBER Working Paper 21582.)
- 2017
- Working Paper
Internalizing Global Value Chains: A Firm-Level Analysis
By: Laura Alfaro, Pol Antràs, Davin Chor and Paola Conconi
In recent decades, advances in information and communication technology and falling trade barriers have led firms to retain within their boundaries and in their domestic economies only a subset of their production stages. A key decision facing firms worldwide is the... View Details
Keywords: Global Value Chains; Sequential Production; Incomplete Contracts; Demand and Consumers; Customer Value and Value Chain; Globalization
Alfaro, Laura, Pol Antràs, Davin Chor, and Paola Conconi. "Internalizing Global Value Chains: A Firm-Level Analysis." Harvard Business School Working Paper, No. 16-028, September 2015. (Updated October 2017. See Online Appendix. Also NBER Working Paper 21582. Forthcoming in the Journal of Political Economy.)
- Article
Formal Measures in Informal Management: Can a Balanced Scorecard Change a Culture?
By: Robert Gibbons and Robert S. Kaplan
Agency theorists, historically, have analyzed what kinds of performance measures should be used in formal incentive contracts. For example, after Kaplan-Norton proposed a balanced scorecard of both financial and non-financial measures, some envisioned its role only in... View Details
Keywords: Relational Contracts; Performance Measurement; Informal Management; Balanced Scorecard; Economics; Mathematical Methods
Gibbons, Robert, and Robert S. Kaplan. "Formal Measures in Informal Management: Can a Balanced Scorecard Change a Culture?" American Economic Review: Papers and Proceedings 105, no. 5 (May 2015).
- May 2016
- Article
Matching with Slot-Specific Priorities: Theory
By: Scott Duke Kominers and Tayfun Sönmez
We introduce a two-sided, many-to-one matching with contracts model in which agents with unit demand match to branches that may have multiple slots available to accept contracts. Each slot has its own linear priority order over contracts; a branch chooses contracts by... View Details
Keywords: Matching With Contracts; Stability; Strategy-proofness; School Choice; Affirmative Action; Airline Seat Upgrades; Contracts; Market Design; Marketplace Matching; Balance and Stability
Kominers, Scott Duke, and Tayfun Sönmez. "Matching with Slot-Specific Priorities: Theory." Theoretical Economics 11, no. 2 (May 2016): 683–710.
- March 2020
- Article
Which Early Withdrawal Penalty Attracts the Most Deposits to a Commitment Savings Account?
By: John Beshears, James J. Choi, Christopher Harris, David Laibson, Brigitte C. Madrian and Jung Sakong
Previous research has shown that some people voluntarily use commitment contracts that restrict their own choice sets. We study how people divide money between two accounts: a liquid account that permits unrestricted withdrawals and a commitment account that is... View Details
Keywords: Quasi-hyperbolic Discounting; Present Bias; Sophistication; Naiveté; Commitment; Flexibility; Savings; Contract Design; Defined Contribution Retirement Plan; 401 (K); IRA; Saving; Behavior; Contracts; Design; Interest Rates
Beshears, John, James J. Choi, Christopher Harris, David Laibson, Brigitte C. Madrian, and Jung Sakong. "Which Early Withdrawal Penalty Attracts the Most Deposits to a Commitment Savings Account?" Art. 104144. Journal of Public Economics 183 (March 2020).
- October 22, 2012
- Article
Interest Rate Pass-Through: Mortgage Rates, Household Consumption, and Voluntary Deleveraging
By: Marco Di Maggio, Amir Kermani, Benjamin Keys, Tomasz Piskorski, Rodney Ramcharan, Amit Seru and Vincent Yao
Exploiting variation in the timing of resets of adjustable-rate mortgages (ARMs), we find that a sizable decline in mortgage payments (up to 50%) induces a significant increase in car purchases (up to 35%). This effect is attenuated by voluntary deleveraging. Borrowers... View Details
Keywords: Monetary Policy; Household Finance; Refinancing; Contract Rigidities; Debt Rigidity; MPC; Deleveraging; Personal Finance; Household; Policy; Borrowing and Debt; Macroeconomics
Di Maggio, Marco, Amir Kermani, Benjamin Keys, Tomasz Piskorski, Rodney Ramcharan, Amit Seru, and Vincent Yao. "Interest Rate Pass-Through: Mortgage Rates, Household Consumption, and Voluntary Deleveraging." American Economic Review 107, no. 11 (November 2017): 3550–3588. (Note: this is a combined version of working papers Monetary Policy Pass-Through: Household Consumption and Voluntary Deleveraging by M. Di Maggio, A. Kermani and R. Ramcharan previously Revise & Resubmit at American Economic Review and Mortgage Rates, Household Balance Sheets, and the Real Economy by B. Keys, T. Piskorski, A. Seru, and V. Yao previously Revise and Resubmit at Journal of Political Economy.)
- 2014
- Working Paper
Hidden Substitutes
By: John William Hatfield and Scott Duke Kominers
In this paper, we show that preferences exhibiting some forms of complementarity
in fact have an underlying substitutable structure. Specifically, we show that some
preferences that are not substitutable in the setting of many-to-one matching with
contracts become... View Details
Keywords: Many-to-One Matching; Many-to-Many Matching; Stability; Substitutes; Matching With Contracts; Slot-Specific Priorities; Sherlock; Market Design; Contracts; Marketplace Matching; Balance and Stability
Hatfield, John William, and Scott Duke Kominers. "Hidden Substitutes." Working Paper, September 2014.
- August 2016
- Supplement
Videojet (B)
In 2005 Craig Purse, the CEO of Videojet, a company recently acquired by the conglomerate Danaher, is dealing with the unexpected failure of a new high tech printer just launched in the market. The new product exemplified the first real instance in which the Videojet... View Details
Keywords: Managerial Processes; Conglomerates; Diversification; Relational Contracts; Corporate Strategy; Manufacturing Industry
Sadun, Raffaella, Bharat Anand, and Eric Van den Steen. "Videojet (B)." Harvard Business School Supplement 717-410, August 2016.
- January 2016 (Revised April 2017)
- Case
The Galaxy Dividend Income Growth Fund's Option Investment Strategies
By: W. Carl Kester
This case is designed to provide an elementary introduction to options and option pricing for beginning finance students. Analysis of the case requires students to compare the prices of put and call options with various exercise prices and maturity dates on two... View Details
Keywords: Options; Option Contract; Option Pricing; Derivatives; Mutual Funds; Call Options; Put Options; Stock Options; Risk and Uncertainty; Volatility; Financial Services Industry; United States
Kester, W. Carl. "The Galaxy Dividend Income Growth Fund's Option Investment Strategies." Harvard Business School Case 216-041, January 2016. (Revised April 2017.)
- November 2015
- Article
Modularity and Intellectual Property Protection
By: Carliss Y. Baldwin and Joachim Henkel
Modularity is a means of partitioning technical knowledge about a product or process. When state-sanctioned intellectual property (IP) rights are ineffective or costly to enforce, modularity can be used to hide information and thus protect IP. We investigate the impact... View Details
Baldwin, Carliss Y., and Joachim Henkel. "Modularity and Intellectual Property Protection." Strategic Management Journal 36, no. 11 (November 2015): 1637–1655.