Publications

17 May 2018
Sharpening Your Skills

You Probably Have a Bias for Making Bad Decisions. Here's Why.

beliefs (confirmation bias), to give ourselves too much credit or not enough blame (self-serving bias), or to place more value on losing $100 than making $100 (loss aversion). In business, a bias-clouded decision can have disastrous consequences, so researchers at... View Details

Keywords: by Sean Silverthorne

March 2015
Article

Inside the “Black Box” of Sell-Side Financial Analysts

By: Lawrence D. Brown, Andrew C. Call, Michael B. Clement and Nathan Y. Sharp

Our objective is to penetrate the “black box” of sell-side financial analysts by providing new insights into the inputs analysts use and the incentives they face. We survey 365 analysts and conduct 18 follow-up interviews covering a wide range of topics, including the... View Details

Keywords: Knowledge Use and Leverage; Investment; Analysis; Forecasting and Prediction; Stocks; Financial Services Industry

May 2022 (Revised June 2024)
Case

LOOP: Driving Change in Auto Insurance Pricing

By: Elie Ofek and Alicia Dadlani

John Henry and Carey Anne Nadeau, co-founders and co-CEOs of LOOP, an insurtech startup based in Austin, Texas, were on a mission to modernize the archaic $250 billion automobile insurance market. They sought to create equitably priced insurance by eliminating pricing... View Details

Keywords: AI and Machine Learning; Technological Innovation; Equality and Inequality; Prejudice and Bias; Growth and Development Strategy; Customer Relationship Management; Price; Insurance Industry; Financial Services Industry

25 May 2007
Working Paper Summaries

Self-Regulatory Institutions for Solving Environmental Problems: Perspectives and Contributions from the Management Literature

Keywords: by Andrew King & Michael W. Toffel

August 2011 (Revised November 2011)
Case

The U.S. Military Academy at West Point

By: Anat Keinan

The case examines an iconic institution's decision on whether or not to undertake a branding initiative. Founded in 1802, West Point has played a key role in America's history. It is one of the nation's oldest institutions of higher learning and is well known for... View Details

Keywords: Surveys; Resource Allocation; Brands and Branding; Business and Stakeholder Relations; Competitive Strategy; Education Industry; United States

January 2021 (Revised October 2024)
Case

Aptiv PLC Board of Directors (A)

By: Lynn S. Paine and Will Hurwitz

Aptiv’s board must decide whether a joint venture with an auto maker is the right next step in the company’s efforts to develop and commercialize a production-ready autonomous driving system. While many commentators believed that Aptiv’s self-driving technologies had... View Details

30 Jan 2017
Research & Ideas

Vanguard, Trian And The Problem With 'Passive' Index Funds

investing, especially for smaller investors, and ultimately created greater returns than most professionally managed mutual funds could deliver. That has made index, or passive, funds wildly popular: For the 12-month period ending May 2016, according to the Wall Street... View Details

Keywords: by Michael Blanding; Financial Services

03 Mar 2011
Working Paper Summaries

How Firm Strategies Influence the Architecture of Transaction Networks

Keywords: by Jianxi Luo, Daniel E. Whitney, Carliss Y. Baldwin & Christopher L. Magee

Article

Reaching for Yield in the Bond Market

By: Bo Becker and Victoria Ivashina

Reaching for yield—the propensity to buy riskier assets in order to achieve higher yields—is believed to be an important factor contributing to the credit cycle. This paper analyzes this phenomenon in the corporate bond market. Specifically, we show evidence for... View Details

Keywords: Fixed Income; Reaching For Yield; Financial Intermediation; Insurance Companies; Insurance; Assets; Bonds; Investment Return; Investment Portfolio; Risk Management; Insurance Industry

SSRN

Article

Lessons from England's Health Care Workforce Redesign: No Quick Fixes

By: Richard Bohmer and Candace Imison

In 2000 the English National Health Service (NHS) began a series of workforce redesign initiatives that increased the number of doctors and nurses serving patients, expanded existing staff roles and developed new ones, redistributed health care work, and invested in... View Details

Keywords: Health Care; Work Force Management; United Kingdom

QuantCon NYC 2018 Quantitative Investing Confernece - Interview Video

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Aptiv's board must decide whether a joint venture with an auto maker is the right next step in the company's efforts to develop and commercialize a production-ready autonomous driving system. While many commentators believed that Aptiv's self-driving technologies... View Details

Lazy Prices

Using the complete history of regular quarterly and annual filings by U.S. corporations from 1995-2014,... View Details

19 Apr 2011
Working Paper Summaries

Top Executive Background and Financial Reporting Choice: The Case of Goodwill Impairment

Keywords: by Francois Brochet & Kyle Welch; Accounting

29 Jan 2009
Working Paper Summaries

An Exploration of the Japanese Slowdown during the 1990s

Keywords: by Diego A. Comin

14 Dec 2010
First Look

First Look: Dec. 14

different cities across China. As competition for investments becomes more intense, Jin and Li must decide the growth and strategic direction that SCGC should pursue. The case highlights the important success View Details

Keywords: Sean Silverthorne

2012
Working Paper

The Determinants of National Competitiveness

By: Mercedes Delgado, Christian Ketels, Michael E. Porter and Scott Stern

We define foundational competitiveness as the expected level of output per working-age individual that is supported by the overall quality of a country as a place to do business. The focus on output per potential worker, a broader measure of national productivity than... View Details

Keywords: Country; Competition; Microeconomics; Macroeconomics

July 2003 (Revised September 2003)
Case

Refinancing of Shanghai General Motors (A), The

By: Mihir A. Desai and Mark Veblen

The CFO of General Motors' joint venture in Shanghai, Shanghai General Motors (SGM), wants to refinance almost $900 million of project finance it raised to begin operations. The highest priority is improving the terms of the financing with regard to costs and specific... View Details

Keywords: Business Subsidiaries; Multinational Firms and Management; Joint Ventures; Financing and Loans; Auto Industry; Shanghai

2021
Working Paper

Two Case Studies on the Financing of Forest Conservation

By: Andrew Baxter, Connor Cash, Josh Lerner and Ratnika Prasad

A variety of factors is leading to fresh approaches to the ownership and management of forestland, with an emphasis on the combination of conservation goals and private investments. But the barriers to successfully achieving attractive financial returns and desirable... View Details

Keywords: Financing; Forestry; Environmental Management; Natural Resources; Financing and Loans