Publications

2014
Working Paper

Crony Capitalism, American Style: What Are We Talking About Here?

By: Malcolm S. Salter

This paper seeks to reduce the ambiguity surrounding our understanding of what crony capitalism is, what it is not, what costs crony capitalism leaves in its wake, and how we might contain it. View Details

Keywords: Democracy; Industrial Governance; Institutional Corruption; Crony Capitalism; Lobbying; Campaign Finance; Costs; Cronyism; Business Ethics; Campaign Finance Reform; Revolving Door; Economic Systems; Ethics; Political Elections; Financing and Loans; United States

SSRN

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2007
Text Book

Business Analysis and Valuation: Using Financial Statements

By: Paul M. Healy and Krishna G. Palepu

Financial statements are the basis for a wide range of business analysis. Managers, securities analysts, bankers, and consultants all use them to make business decisions. There is strong demand among business students for course materials that provide a framework for... View Details

Keywords: Valuation; Framework; Decision Choices and Conditions; Financial Statements

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April 2002 (Revised October 2002)
Case

The Blair Wealth Project: Antecedents and Prospects

By: Huw Pill and Ingrid Vogel

Discusses the macroeconomic and political situation in the United Kingdom from the end of World War II through 2001. Focuses on the interactions among macroeconomic performance, labor relations, the corporate governance system, and social services. In particular,... View Details

Keywords: Welfare; Corporate Governance; Labor and Management Relations; Government and Politics; Macroeconomics; United Kingdom

October 2011 (Revised December 2013)
Case

Lehman Brothers and Repo 105

By: Anette Mikes, Gwen Yu and Dominique Hamel

The collapse of Lehman Brothers in 2008 was the largest bankruptcy in US history. The case examines the economics of the off-balance sheet transactions Lehman undertook prior to the collapse, and highlights the corporate governance challenges in situations where firms... View Details

Keywords: Accounting; Policy; Accounting Audits; Corporate Governance; Financial Instruments; Risk Management; Financial Services Industry

31 May 2017
Working Paper Summaries

Stock Price Synchronicity and Material Sustainability Information

Keywords: by Jody Grewal, Clarissa Hauptmann, and George Serafeim; Accounting; Financial Services

Building Climate-Resilient Cities and Infrastructure

This episode in our climate adaptation series features HBS Professor John Macomber. John discusses how companies and governments need to incorporate climate resilience as they develop and finance real estate and infrastructure to address the risks of flooding,... View Details

June 2012
Article

A Reexamination of Tunneling and Business Groups: New Data and New Methods

By: Jordan I. Siegel and Prithwiraj Choudhury

One of the most rigorous methodologies in the corporate governance literature uses firms' reactions to industry shocks to characterize the quality of governance. This methodology can produce the wrong answer unless one considers the ways firms compete. Because... View Details

Keywords: Governance; System Shocks; India

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January 2010
Teaching Note

Youth Villages: The challenges of scaling a nonprofit with government as the primary funding source (TN)

By: Allen S. Grossman

Teaching Note for [309007]. View Details

Keywords: Problems and Challenges; Nonprofit Organizations; Emotions; Behavior; Cost; Growth and Development Strategy; Age; Business and Government Relations

July 2020
Case

King's College Hospital in Crisis

By: John R. Wells and Benjamin Weinstock

On December 11, 2017, King’s College Hospital NHS Foundation Trust (King’s), one of London’s leading teaching hospital groups, was put into “special measures” by NHS Improvement (NHSI), the financial regulator of England’s National Health Service (NHS). The future of... View Details

Keywords: Hospitals; Financing; Health Care and Treatment; Financial Condition; Crisis Management; Organizational Structure; Transformation; Strategic Planning; United Kingdom

Article

Assessing the Impact of CEO Activism

By: Aaron K Chatterji and Michael W. Toffel

CEO activism refers to corporate leaders speaking out on social and environmental policy issues not directly related to their company’s core business. Distinct from nonmarket strategy and traditional corporate social responsibility, the recent wave of CEO activism... View Details

Keywords: Business And Society; Leadership; Policy; Ethics; Values and Beliefs; Governance; Social Issues; Corporate Social Responsibility and Impact; Public Opinion

October 2011 (Revised March 2012)
Case

Business Intelligence Advisors (BIA), Inc.: Finding the Hidden Meaning in Corporate Disclosures

By: Lauren Cohen and Christopher Malloy

Keywords: Corporate Disclosure; Information

Research Summary

Searching for a Corporate Savior: The Irrational Quest for Charismatic CEOs ( Princeton University Press, October 2002)

By: Rakesh Khurana

In this book, I argue that the external CEO labor market was born in a burst of rhetoric about wresting control of corporations away from a group of self-interested insiders, as senior managers in the era of managerial capitalism had come to be portrayed. The rationale... View Details

2006
Other Unpublished Work

Does Banks' Corporate Control Benefit Firms? Evidence from US Banks' Control over Firms' Voting Rights

By: Joao A.C. Santos and Kristin Wilson

In this paper we examine the importance of banks' corporate control over their borrowers by investigating the loan pricing effect of banks' voting stakes in borrowers. We exploit the fact that banks may hold shares of firms in a fiduciary capacity to identify a clean... View Details

Keywords: Voting; Corporate Governance; Commercial Banking; Banking Industry; United States

SSRN

September 2012 (Revised November 2012)
Case

Integrated Reporting in South Africa

This case presents a 20-year history of the evolution of corporate governance and corporate reporting in South Africa starting in 1992 with a focus on the three King codes of corporate governance (King I in 1994, King II in 2000, and King III in 2009). From a reporting... View Details

Keywords: Integrated Reporting; Sustainability Reporting; Stock Exchanges; South Africa; Corporate Reporting; Regulation; Nonfinancial Performance; History; Corporate Disclosure; Markets; Integrated Corporate Reporting; Performance; Corporate Governance; South Africa

10 Feb 2016
Working Paper Summaries

Land Institutions and Chinese Political Economy: Institutional Complementarities and Macroeconomic Management

Keywords: by Meg Rithmire; Public Administration; Real Estate; Financial Services

03 Jun 2016
Working Paper Summaries

The Risk Anomaly Tradeoff of Leverage

Keywords: by Malcolm Baker, Mathias F. Hoeyer, and Jeffrey Wurgler

September 2013 (Revised January 2015)
Case

Wal-Mart Lobbying in India?

By: Karthik Ramanna and Vidhya Muthuram

In 2012, as part of a routine disclosure under U.S. law, Wal-Mart revealed it had spent $25 million since 2008 on lobbying to "enhance market access for investment in India." This disclosure, which came weeks after the Indian government made a controversial decision to... View Details

Keywords: Lobbying; India; Multinational Corporations; Business and Government Relations; Crime and Corruption; Retail Industry; India

October 2015 (Revised January 2017)
Case

UPower Technologies Inc.

By: Joseph B. Lassiter III, William A. Sahlman and Liz Kind

The UPower founders, Jake DeWitte and Caroline Cochran, were recent graduates from MIT's Nuclear Science and Engineering Department. They chose to attend Palo Alto–based Y Combinator's accelerator program to focus on building a "mini" nuclear reactor that would produce... View Details

Keywords: Nuclear; Nuclear Energy; Nuclear Power; Energy Markets; New Nuclear; Entrepreneurial Finance; Entrepreneurial Marketing; Business ＆ Government Relations; Off-grid; Energy; Renewable Energy; Energy Generation; Energy Sources; Entrepreneurship; Marketing; Business and Government Relations; Energy Industry; Utilities Industry; United States