Publications

December 2007 (Revised January 2008)
Background Note

Evaluating M&A Deals-Announcement Effects, Risk Arbitrage and Event Risk

By: Carliss Y. Baldwin

The announcement of merger or acquisition conveys new information to the capital markets. This note describes how the stock prices of a Buyer and Target behave after the announcement of a deal. First, for an all-stock deal that is certain to go through, the note... View Details

Keywords: Mergers and Acquisitions; Announcements; Capital Markets; Stocks; Price; Risk and Uncertainty

01 Mar 2018
News

Making Sense of the Modern Startup

stuff in a box and ship directly to customers. Well, there’s a lot of uncertainty in that project, right? I don’t know if I can make the mattress. I don’t know if people will buy it online without trying it out first. I don’t know if I... View Details

Keywords: Jeffrey L. Cruikshank (PMD 51, 1986)

29 Oct 2018
Research & Ideas

Hunting for a Hot Job in High Tech? Try 'Digitization Economist'

economists dispel any uncertainty about whether it’s a tenable career path—the data suggest that there might be more economists hired in tech companies than in policy schools in recent years. To lure an economist As competition for talent... View Details

Keywords: by Roberta Holland; Technology; Education

01 Mar 2006
News

One-on-One with Dr. Margaret Chan

hygiene, as well as planning for social distancing and quarantine. Communicating with the public will be essential during a pandemic, not only because antivirals and vaccines will be in short supply, but because there will be tremendous View Details

Keywords: Garry Emmons; Government; Ambulatory Health Care Services; Health, Social Assistance

15 Feb 2017
Op-Ed

What Africa Can Teach the United States About Funding Infrastructure Projects

risk, no competitors, and no political uncertainty around election outcomes, regime change, or expropriation. Historically, all of these factors have been favorable in the United States and that’s why the municipal bond market is so... View Details

Keywords: by John Macomber; Construction

02 Aug 2016
First Look

August 2, 2016

supportive analysis of the impact of the 2011 Japanese tsunami on CDS markets; and (v) a discussion of why the role of dealers as prime brokers does not impact the stylized facts and results presented throughout the paper. Economic View Details

Keywords: Sean Silverthorne

16 Dec 2016
News

An Environmental Epiphany

degree to which there was scientific uncertainty around this. And the way in which we needed to address climate change as a major risk factor for businesses, for markets, and for society as a whole. That View Details

March 2019
Case

Mahindra Finance

By: V.G. Narayanan and Tanvi Deshpande

Mahindra Finance is a non-banking lender operating mainly in the rural and semi-urban areas of India. Set up in 1991, the company had grown to become a market leader with assets of $8.5 billion and a presence in 3,30,000 villages across India. Since most of Mahindra's... View Details

Keywords: Accounting; Business Model; Volatility; Customer Focus and Relationships; Decisions; Credit; Financing and Loans; Service Delivery; Risk and Uncertainty; Financial Services Industry; India

May 1991 (Revised October 1993)
Case

Collision Course in Commercial Aircraft: Boeing-Airbus-McDonnell Douglas--1991 (A)

By: David B. Yoffie

Describes the competitive situation that has arisen in the commercial aircraft manufacturing industry since Airbus entered in 1970. Having overtaken McDonnell Douglas for second place, Airbus announces plans to challenge market leader Boeing's last pocket of dominance.... View Details

Keywords: Transition; Trade; Ethics; Investment; Problems and Challenges; Business and Government Relations; Risk and Uncertainty; Sales; Competitive Strategy; Technology Adoption; Air Transportation Industry; Manufacturing Industry

25 Jun 2020
News

Global Centers Broaden Understanding of Business and the Pandemic

were able to understand how firms are approaching the tremendous uncertainty related to COVID-19. One of the aspects of this research that has impressed me the most is how, for many companies, this crisis has created an opportunity to... View Details

June 1994 (Revised September 1994)
Background Note

Commercializing Technology: Imaginative Understanding of User Needs

By: Dorothy A. Leonard

The transformation of technology into commercially successful products is a process fraught with risk and uncertainty, and increasing pressure on time to market is exacerbating the difficulties. This note first describes a study conducted by Hewlett-Packard to improve... View Details

Keywords: Transformation; Communication Strategy; Customers; Design; Marketing; Consumer Behavior; Product Development; Research; Risk and Uncertainty; Commercialization; Technology Adoption

April 1990
Case

Philip Morris Companies' ""Bill of Rights"" Sponsorship Program

By: Stephen A. Greyser and Norman Klein

Describes the new policy of the National Archives of inviting corporate cosponsorship of historic exhibits and commemorations. In November 1989, Philip Morris Companies (PM) became the first cosponsor of the bicentennial commemoration of the Bill of Rights, and used... View Details

Keywords: Policy; Brands and Branding; Decisions; Advertising; Marketing Strategy; Risk and Uncertainty; Financing and Loans; Reputation; Nonprofit Organizations

26 Sep 2024
HBS Case

If a Car Can Drive Itself, Can It Make Life-or-Death Decisions?

What would Aristotle think about self-driving cars? As the abilities of artificial intelligence systems to automate complex tasks accelerate, warnings about the dangers of outsourcing life-and-death decisions to machines are pumping the brakes on the powerful... View Details

Keywords: by Tom Quinn; Auto; Technology

Article

Spanning the Institutional Abyss: The Intergovernmental Network and the Governance of Foreign Direct Investment

By: Juan Alcacer and Paul Ingram

Global economic transactions such as foreign direct investment must extend over an institutional abyss between the jurisdiction, and therefore protection, of the states involved. Intergovernmental organizations (IGOs), whose members are states, represent an important... View Details

Keywords: Globalization; Market Transactions; Foreign Direct Investment; Government and Politics; Risk and Uncertainty; Networks; Culture; Complexity; Public Administration Industry

Read Now

November 2007
Article

Standing Out from the Crowd: The Visibility-Enhancing Effects of IPO-related Signals on Alliance Formation by Entrepreneurial Firms

By: Tim Pollock and Ranjay Gulati

In this study, we explore how multiple signals related to entrepreneurial companies at the time of their initial public offering (IPO) influence the firms' ability to acquire non-financial resources over time. Specifically, the study looks at how signals based on... View Details

Keywords: Entrepreneurship; Venture Capital; Initial Public Offering; Investment; Alliances; Risk and Uncertainty; Power and Influence

Find at Harvard

May 2005 (Revised January 2006)
Case

Ticonderoga: Inverse Floating Rate Bond

Presents a simple interest hedging exercise. A hedge fund is considering an investment in a structured fixed--income product: an inverse floating-rate bond, or inverse floater, designed by a U.S. investment bank. The hedge fund's normal policy is to hedge interest rate... View Details

Keywords: Risk and Uncertainty; Credit Derivatives and Swaps; Bonds; Investment Funds; Interest Rates

October 2001 (Revised March 2008)
Case

Anagene, Inc.

By: Robert S. Kaplan and Christina L. Darwall

An entrepreneurial, publicly traded biotech company has begun production and sales of its core product--cartridges that permit DNA samples to be analyzed on a microchip. In the early quarters, sales are difficult to forecast and the company has experienced fluctuating... View Details

Keywords: Cost Accounting; Financial Reporting; Production; Performance Capacity; Risk and Uncertainty; Genetics; Governing and Advisory Boards; Biotechnology Industry; California

September–October 2023
Article

A Rising Tide Lifts All Boats: The Effects of Common Ownership on Corporate Social Responsibility

By: Mark R. DesJardine, Jody Grewal and Kala Viswanathan

Common owners face an incredible investment challenge: managing systematic risk. Because common owners hold shares in multiple firms across an industry, an action (or inaction) by one firm that affects industry peers is felt more severely by common owners than by... View Details

Keywords: Common Ownership; Environmental Sustainability; Corporate Social Responsibility and Impact; Institutional Investing; Corporate Governance; Risk and Uncertainty; Investment Return