Instrumentality - Publications - Faculty & Research

September 2004
Article

Decomposing the Persistence of International Equity Flows

By: Kenneth A. Froot and J. Tjornhom Donohue

Keywords: Asset Pricing; Equity Investment; Forecasting and Prediction; Behavioral Finance; Stocks; Investment Return; Market Transactions; Performance Expectations; Personal Characteristics; Financial Services Industry

Citation

May 1983 (Revised December 1987)
Case

Technical Data Corp.

By: William A. Sahlman

Describes a decision confronting the president of a small company about selling some or all of the shares in his company to another firm. Technical Data Corp. provides analytical services to professional bond market traders over a system of computer terminals operated... View Details

Keywords: Stocks; Entrepreneurship; Business Startups; Internet and the Web; Information Infrastructure; Mobile and Wireless Technology; Valuation; Negotiation Tactics; Mergers and Acquisitions; Corporate Strategy; Horizontal Integration; Information Industry; Service Industry

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August 2018
Supplement

Garanti Payment Systems: Digital Transformation Strategy (B)

By: Shelle M. Santana and Esel Çekin

Supplements the (A) case. Işıl Akdemir Evlioğlu, executive vice president of marketing at Garanti Payment Systems (GPS), a subsidiary of Garanti Bank, is grappling with three questions. First, should GPS create its own mobile app for credit card customers or leverage... View Details

Citation

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December 2012 (Revised October 2022)
Case

Plastiq

By: Jeffrey J. Bussgang, Gaurav Jain, Liroy Haddad, Luke Langford and Matt Noble

The young CEO of a venture-backed startup needs to figure out his go to market strategy and the right profile for his first key sales hires. Should he develop partnerships with channels that would provide leverage or build out a direct sales force? And should the sales... View Details

Keywords: Payments; Sales; Channels; Credit Cards; Digital Platforms; Selection and Staffing; Cost vs Benefits; Salesforce Management; Marketing Channels; Business Startups; Business Strategy; Marketing Strategy; Partners and Partnerships; Management Systems

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January 1994 (Revised June 1994)
Case

Dean Witter, Discover & Co.

By: Dwight B. Crane and W. James Whalen

Early in 1993, Sears was in the process of spinning off its Dean Witter, Discover subsidiary. This subsidiary consisted of a securities brokerage that was acquired in 1981 and also the Discover Card, a general purpose credit card, the firm introduced in 1985. The key... View Details

Keywords: Valuation; Business Subsidiaries; Initial Public Offering; Credit Cards; Corporate Strategy; Asset Pricing; Financial Services Industry

Citation

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June 1995
Case

Banc One Corporation (A)

As Banc One's use of derivatives had proliferated, investors and analysts had expressed increasing concern about the size of derivative portfolios, the potential sensitivity of their value to interest rate swings, and the lack of standardized reporting on their use.... View Details

Keywords: Credit Derivatives and Swaps; Investment Banking; Financial Reporting; Annual Reports; Banking Industry

Citation

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July 2009 (Revised June 2015)
Case

Citigroup's Exchange Offer

By: Robin Greenwood and James Quinn

Citigroup faced considerable distress in early 2009. In late 2008, the bank had accepted $45 billion in preferred equity from the United States government via the Troubled Assets Relief Program (TARP). Yet, the stock had continued to slide in early 2009. In late... View Details

Keywords: Financial Crisis; Capital Markets; Banks and Banking; Stocks; Price; Globalized Markets and Industries; Financial Services Industry

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26 Apr 2016
First Look

April 26

self-employment. Using the reform to instrument for private-sector labor supply, we find that private-sector labor demand is very elastic, with elasticity estimates ranging between -3.1 and -5.3. Download working paper:... View Details

Keywords: Sean Silverthorne

18 Sep 2012
First Look

First Look: September 18

methods, panel data, and instrumental variables, we find that government procurement rules produce spillover effects that stimulate both private-sector adoption of the LEED standard and supplier investments in green building expertise.... View Details

Keywords: Sean Silverthorne

04 May 2009
Research & Ideas

What’s Next for the Big Financial Brands

in the world, way more important than Intel. In any recession, consumers focus closer to home. They become more local and less global in outlook. So these are times of opportunity for the thousands of conservatively run community banks that have never held any exotic... View Details

Keywords: by John Quelch; Banking; Financial Services

01 Mar 2011
First Look

First Look: March 1

direct-selling cosmetics company involved in emerging markets exhibits significant foreign exchange risk exposure and profitability swings in the wake of the 2008 financial crisis. Students must review the company's use of derivative View Details

Keywords: Sean Silverthorne

21 Nov 2006
First Look

First Look: November 21, 2006

To establish causality, we instrument for downloads using data on international school holidays. Downloads have an effect on sales which is statistically indistinguishable from zero. Our estimates are inconsistent with claims that file... View Details

Keywords: Sean Silverthorne

08 Jan 2020
Research & Ideas

NFL Head Coaches Are Getting Younger. What Can Organizations Learn?

Rams to see an effective example of this: 71-year-old Wade Phillips, who has coached in the NFL as a head coach and an assistant since 1976, has proven instrumental as an assistant to McVay. We believe the approach taken by Los Angeles... View Details

Keywords: by Boris Groysberg, Evan M.S. Hecht, and Abhijit Naik; Sports

09 Aug 2016
First Look

August 9, 2016

anti-predatory laws to instrument for an outward shift in the supply of credit. First, a comparison between counties in the top and bottom deciles of presence of national banks in states with anti-predatory laws suggests that the... View Details

Keywords: Sean Silverthorne

2010
Working Paper

Just Say No to Wall Street: Putting A Stop to the Earnings Game

By: Joseph Fuller and Michael C. Jensen

Putting an end to the "earnings game" requires that CEOs reclaim the initiative by avoiding earnings guidance and managing expectations in such a way that their stocks trade reasonably close to their intrinsic value. In place of earnings forecasts, management should... View Details

Keywords: Stocks; Performance Expectations; Goals and Objectives; Risk and Uncertainty; Growth and Development Strategy; Decisions; Risk Management; Budgets and Budgeting; Earnings Management; Value; Projects

Citation

SSRN

02 Aug 2021
What Do You Think?

Can Companies with Remote Management Succeed?

Goldshlager added, “ a CXO could prove instrumental (if) the company (is) ready to invest in its customers and employees, potentially to the detriment of its short-term profit needs everyone else, particularly the front-line employees,... View Details

Keywords: by James Heskett

01 Oct 2001
Research & Ideas

Connecting With Nonprofits

Continuum can be used as an instrument for managing their "Partnering Portfolios." Not only can one ascertain the current nature of the existing relationships, but also begin to strategize as to the ideal mix of relationship... View Details

Keywords: by James Austin

14 Aug 2018
First Look

First Look at New Research and Ideas, August 14, 2018

https://www.hbs.edu/faculty/Pages/item.aspx?num=51383 Happily Ever After: Immigration, Natives' Marriage, and Fertility By: Carlana, Michela, and Marco Tabellini Abstract—In this paper, we study the effects of immigration on natives’ marriage, fertility, and family... View Details

Keywords: by Sean Silverthorne

08 Aug 2017
First Look

First Look at Research and Ideas, August 8, 2017

managing labor and delivery units in the United States and assess the associations between unit management and maternal outcomes. Methods: We developed and administered a management measurement instrument using structured telephone... View Details

Keywords: Sean Silverthorne

February 2018 (Revised August 2018)
Case

Blue Haven Initiative: The PEGAfrica Investment

By: Vikram S. Gandhi, Caitlin Reimers Brumme and Amram Migdal

This case examines Blue Haven Initiative (BHI), an impact investing fund and family office, and one of its investments, PEGAfrica (PEG). BHI founder Liesel Pritzker Simmons’ motivations for using her family wealth to start a family office focused on impact investing,... View Details