Publications
Publications
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- All HBS Web
(1,130)
- Faculty Publications (208)
- March 2011 (Revised December 2019)
- Case
Wealth Management Crisis at UBS (A)
By: Paul M. Healy
The case describes the challenges that UBS faced as a result of the U.S. Department of Justice (DOJ) investigation for tax fraud, that claimed that UBS had helped some 52,000 U.S. residents hide billions of dollars in untaxed assets in secret Swiss accounts between... View Details
Keywords: Fraud; Regulatory Enforcement; Reputation Incentives; Crony Capitalism; Tax Havens; Legitimacy; Multinational; Strategic Change; Incentives; Transparency; Financial Services; Taxation; Crime and Corruption; Global Range; Asset Management; Ethics; Problems and Challenges; Governing Rules, Regulations, and Reforms; Corporate Governance; Financial Services Industry; United States; Switzerland
- 2011
- Teaching Note
UFIDA (A) (TN)
By: F. Warren McFarlan, Bin Yang and E. Chen
The five-case UFIDA series is about China's largest supplier of management/ERP software, its 20-year evolution, and current strategic challenges. The (A) case is the cornerstone of the series. It introduces the company's history, strategic turning points, current... View Details
- December 2010
- Article
Management and the Financial Crisis (We Have Met the Enemy and He Is Us...)
The financial crisis of 2008-2009 has revealed that our broad model of corporate governance is broken, independent of the shortcomings in the regulatory system. Managers and boards of directors in scores of systemically important firms failed to protect employees,... View Details
- November 2010
- Teaching Note
Citigroup 2007: Financial Reporting and Regulatory Capital (TN)
By: Edward J. Riedl, Suraj Srinivasan and Sharon Katz
Teaching Note for 111041. View Details
- September 2010 (Revised July 2012)
- Case
Citigroup 2007: Financial Reporting and Regulatory Capital
By: Suraj Srinivasan, Edward J. Riedl and Sharon Katz
This case introduces 1) financial statements for banks, 2) basic regulatory capital calculations, and 3) actions Citigroup must consider under a scenario of continued losses/fair value declines in 2008 (leading to potential violation of regulatory capital). View Details
- Article
Creating Value in the Age of Distributed Capitalism
By: Shoshana Zuboff
Capitalism is a book of many chapters—and we are beginning a new one. Every century or so, fundamental changes in the nature of consumption create new demand patterns that existing enterprises can't meet. When a majority of people want things that remain priced at a... View Details
- 2010
- Working Paper
Venture Capital Investment in the Clean Energy Sector
By: Shikhar Ghosh and Ramana Nanda
We examine the extent to which venture capital is adequately positioned for the rapid commercialization of clean energy technologies in the United States. While there are several startups in clean energy that are well-suited to the traditional venture capital... View Details
- June 2010 (Revised January 2011)
- Case
Scientific Glass Incorporated: Inventory Management
By: Steven C. Wheelwright and William Schmidt
Scientific Glassware is a fast-growing, privately held company that provides specialized glassware for laboratory and research facilities. Excess inventory is tying up extra capital needed to fund the company's expansion plans. The newly hired Manager of Inventory... View Details
- 2010
- Mimeo
An Analysis of the Impact of 'Substantially Heightened' Capital Requirements on Large Financial Institutions
By: Anil Kashyap, Jeremy C. Stein and Samuel G. Hanson
We examine the impact of "substantially heightened" capital requirements on large financial institutions, and on their customers. Our analysis yields three main conclusions. First, the frictions associated with raising new external equity finance are likely to be... View Details
- Article
Recent Advances in the Empirics of Organizational Economics
By: Nicholas Bloom, Raffaella Sadun and John Van Reenen
We present a survey of recent contributions in empirical organizational economics, focusing on management practices and decentralization. Productivity dispersion between firms and countries has motivated the improved measurement of firm organization across industries... View Details
Keywords: Economics; Management Practices and Processes; Performance Productivity; Geographic Location; Motivation and Incentives; Factories, Labs, and Plants; Competition; Human Capital; Markets; Governing Rules, Regulations, and Reforms; Multinational Firms and Management; India; Brazil; United States
- 2009
- Working Paper
Labor Regulations and European Private Equity
By: Ant Bozkaya and William R. Kerr
European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor... View Details
- 2009
- Working Paper
Labor Regulations and European Private Equity
By: Ant Bozkaya and William R. Kerr
European nations substitute between employment protection regulations and labor market expenditures (e.g., unemployment insurance benefits) for providing worker insurance. Employment regulations more directly tax firms making frequent labor adjustments than other labor... View Details
- 2009
- Working Paper
Management and the Financial Crisis (We have met the enemy and he is us...)
The financial crisis of 2008-9 has revealed that our broad model of corporate governance is broken, independent of the shortcomings in the regulatory system. Managers and boards of directors in scores of systemically important firms failed to protect employees,... View Details
- October 2009
- Article
Democratizing Entry: Banking Deregulations, Financing Constraints, and Entrepreneurship
By: William R. Kerr and Ramana Nanda
We examine entrepreneurship and creative destruction following US banking deregulations using Census Bureau data. US banking reforms brought about exceptional growth in both entrepreneurship and business closures. Most of the closures, however, were the new ventures... View Details
- 2009
- Chapter
The Principles of Embedded Liberalism: Social Legitimacy and Global Capitalism
By: Rawi Abdelal and John G. Ruggie
In this essay we revisit the principles of “embedded liberalism” and argue for their relevance to the contemporary global economy. The most essential principle is the need for markets to enjoy social legitimacy, because their political sustainability ultimately depends... View Details
- June 2009
- Journal Article
Taxes, Institutions and Foreign Diversification Opportunities
By: Mihir Desai and Dhammika Dharmapala
Investors can access foreign diversification opportunities through either foreign portfolio investment (FPI) or foreign direct investment (FDI). The worldwide tax regime employed by the U.S. potentially distorts this choice by penalizing FDI, relative to FPI, in... View Details
- May 2009
- Article
Synchronicity and Firm Interlocks in an Emerging Market
By: Tarun Khanna and Catherine Thomas
Stock price synchronicity has been attributed to poor corporate governance and a lack of firm-level transparency. This paper investigates the association between different kinds of firm interlocks, control groups, and synchronicity in Chile. A unique data set... View Details
- Article
Why Doesn't Capitalism Flow to Poor Countries?
By: Rafael Di Tella and Robert MacCulloch
We show that capitalism is far from common around the world. Outside a small group of rich countries, heavy regulation of business, leftist rhetoric, and interventionist beliefs flourish. We relate these phenomena to the presence of corruption, with causality running... View Details
- February 2009 (Revised March 2013)
- Supplement
Messer Griesheim (B)
By: Josh Lerner, Ann-Kristin Achleitner, Eva Lutz and Kerry Herman
In 2001, Allianz Capital Partners and Godlman Sachs acquired a majority stake in Messer Greisheim, a European industrial gas concern held by Hoeschst. The dealmakers faced several challenges, including delicate corporate governance issues due to partial family... View Details
- 2008
- Working Paper
International Financial Integration and Entrepreneurial Firm Activity
By: Laura Alfaro and Andrew Charlton
We explore the relation between international financial integration and the level of entrepreneurial activity in a country. We use a unique firm-level data set in a broad sample of developed and developing countries, which enables us to present both cross-country and... View Details