Publications

Mark Egan is a Professor of Business Administration in the Finance Unit, teaching Finance 2 to MBA students.

Professor Egan’s research concentrates on the intersection of corporate finance and industrial organization. His current research agenda explores how... View Details

2011
Book

The Fund Industry: How Your Money Is Managed

By: Robert Pozen and Theresa Hamacher

The Fund Industry explains to students and investors how to evaluate mutual funds and other collective investment vehicles. It discusses how different types of funds are managed, marketed, and regulated. It also reviews how funds invest and gather assets in countries... View Details

Keywords: Money; Financial Management; International Finance; Investment Funds; Governing Rules, Regulations, and Reforms; Financial Services Industry

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January 2020
Article

The Job Rating Game: Revolving Doors and Analyst Incentives

By: Elisabeth Kempf

Investment banks frequently hire analysts from rating agencies. While many argue that this "revolving door" creates captured analysts, it can also create incentives to improve accuracy. To study this issue, I construct an original dataset, linking analysts to their... View Details

Keywords: Credit Rating Agencies; Investment Banking; Recruitment; Performance Evaluation; Financial Services Industry

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25 Oct 2020
Research & Ideas

The Dark Side of Fintech Borrowing

requirement introduced by the Dodd-Frank Act for fintech lenders might serve the industry well, Di Maggio suggests. The law “forced the banks to actually make sure that the borrowers will be able to repay... View Details

Keywords: by Rachel Layne; Banking; Banking

June 2021
Case

Akira Fukabori and Kevin Kajitani at avatarin (A)

By: Linda A. Hill and Emily Tedards

In 2016, Akira Fukabori and Kevin Kajitani, aeronautical engineers at All Nippon Airways Co., Ltd., began to wonder why, in a world of accelerating globalization and digital connectivity, those who lived in far-remote villages or impoverished urban areas could not... View Details

Keywords: Agility; Ecosystem; Innovation Ecosystems; Crowdsourcing; Open Innovation; Partnership; Government; Collaboration; Co-creation; Purpose; Impact; Social Impact; Movement; Organizational Behavior; Organizational Ambidexterity; Ambidexterity; Culture; Culture Change; Global Teams; Experimentation; Space; Airline Industry; Start-up; Platform Business; Platform Strategy; Platform; Digital; Robotics; Robots; Mobility; Strategy; COVID-19; Intrapreneurship; Public-private Partnership; XPRIZE; Space Industry; Avatar; Telepresence; Innovation Lab; Innovation and Invention; Technological Innovation; Partners and Partnerships; Collaborative Innovation and Invention; Alignment; Leadership; Leading Change; Diversity; Organizational Culture; Change Management; Entrepreneurship; Digital Platforms; Transportation Industry; Transportation Industry; Japan

The link between measures of risk and return within the equity market has been very weak over the past 47 years: in the United States, returns on high-risk stocks have cumulatively fallen short of the returns on low-risk stocks, during a period when the equity market... View Details

03 Nov 2018
News

Think Saving for Old Age Can’t Be Fun? Try Making It a Game

February 2010 (Revised September 2011)
Case

Lehman Brothers

By: Tom Nicholas and David Chen

In 2008, the U.S. financial system was in a state of crisis and Lehman Brothers went from a major Wall Street investment bank to an insolvent institution. It was a swift end for a firm that had its beginnings over 150 years prior. What would be the firm's legacy? And... View Details

Keywords: History; Business History; Development Economics; Business Exit or Shutdown; Investment Banking; Insolvency and Bankruptcy; Economic Growth; Financial Crisis; Financial Services Industry; United States

October 2012 (Revised February 2019)
Case

Whaling Ventures

By: Tom Nicholas and Jonas Peter Akins

Whaling was a prominent global industry in the nineteenth century and the United States was dominant. By 1850 there were about 900 whaling ships in the world and 700 of these were American. Rates of return on capital were high compared to benchmark investments, at... View Details

Keywords: Whaling; Organization Design; Entrepreneurship; Venture Capital; Finance; Organizational Design; Industry Growth; History; United States

15 Apr 2015
News

New Enterprise Raises Record-Breaking $2.8 Billion Venture Fund

June 2009 (Revised July 2010)
Case

Microfin

By: Michael Chu and Enrique Kramer

The case presents the management dilemmas of a new institution in an undeveloped microfinance market in Latin America. Supported by a globally recognized industry player, it is the result of the efforts of two fledgling local entrepreneurs with a business model they... View Details

Keywords: Business Model; Developing Countries and Economies; Social Entrepreneurship; Microfinance; Governing Rules, Regulations, and Reforms; Industry Structures; Competitive Strategy; Financial Services Industry; Latin America

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December 1993 (Revised March 1997)
Case

Recruiting at Bowles Hollowell Conner & Co.

By: John J. Gabarro, Herminia M. Ibarra, John P. Kotter and Andrew P. Burtis

Examines the recruiting process of Bowles Hollowell Conner & Co. (BHC), an investment banking firm known for its work with middle market companies. Specifically, presents a profile of the firm and its recruiting process and then examines that process through the firm's... View Details

Keywords: Investment Banking; Recruitment; Selection and Staffing; Job Interviews; Banking Industry

December 1999 (Revised May 2000)
Case

Morgan Stanley: Becoming a "One-Firm Firm"

By: M. Diane Burton, Thomas J. DeLong and Katherine Lawrence

John Mack, the newly appointed president of Morgan Stanley, feels strongly that the firm needs to change in order to compete in a changing investment banking environment. Mack and his senior team undertake initiatives in order to transform the culture and working style... View Details

Keywords: Human Resources; Goals and Objectives; Organizational Change and Adaptation; Organizational Culture; Performance Evaluation; Competitive Strategy

December 2009 (Revised September 2014)
Case

TD Canada Trust

By: Dennis Campbell and Brent Kazan

The case illustrates the role of performance measurement and analytics in translating TD-Canada Trust's service model of "comfortable banking" into operational terms. In 2000, in a banking market where consumers and regulators were typically hostile to mergers and... View Details

Keywords: Mergers and Acquisitions; Customer Focus and Relationships; Customer Satisfaction; Commercial Banking; Profit; Balanced Scorecard; Organizational Change and Adaptation; Banking Industry; Canada

Article

Can India Overtake China?

By: Yasheng Huang and Tarun Khanna

What's the fastest route to economic development? Welcome foreign direct investment (FDI), says China, and most policy experts agree. But a comparison with long-time laggard India suggests that FDI is not the only path to prosperity. Indeed, India's homegrown... View Details

Keywords: Development Economics; Foreign Direct Investment; China; India

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August 2009
Case

Nomura's Global Growth: Picking Up Pieces of Lehman

By: C. Fritz Foley and Linnea Meyer

What issues commonly arise in international financial management? Kenichi Watanabe and Takumi Shibata, CEO and COO of Nomura Holdings Inc., one of the leading investment banks in Asia, have the opportunity to expand their firm internationally through the acquisition of... View Details

Keywords: Mergers and Acquisitions; Insolvency and Bankruptcy; Investment Banking; International Finance; Cross-Cultural and Cross-Border Issues; Expansion; Financial Services Industry; Japan

16 Sep 2014
News

Harvard Study Warns Business Community Of Economic Inequality Risks

April 2007 (Revised October 2007)
Background Note

An Overview of Project Finance & Infrastructure Finance - 2006 Update

By: Benjamin C. Esty and Aldo Sesia

Provides an introduction to the fields of project finance and infrastructure finance, and gives a statistical overview of project-financed investments over the years from 2002 to 2006. Examples of project-financed investments include the $4 billion Chad-Cameroon... View Details

Keywords: Project Finance; Infrastructure; Investment; Projects; Trends

January 2023 (Revised June 2024)
Case

Zaoui & Co. (A): Consigliere for High Stakes M&A Transactions

By: Ashish Nanda, Alex Kitsberg and Zack Kurtovich

In September 2019, Zaoui & Co.’s close-knit team of professionals convened for their annual off-site. In its nine years of operation, the boutique investment bank founded by the brothers Michael (HBS ’83) and Yoel Zaoui (Stanford GSB ’88), had garnered a track record... View Details

Keywords: Professional Service Firm; Entrepreneurship; Finance; Strategy; Investment Banking; Organizational Change and Adaptation; Growth and Development Strategy; Europe; United Kingdom