Publications

June 2017 (Revised November 2020)
Teaching Note

Tableau

By: Boris Vallee and Botir Kobilov

Teaching Note for HBS No. 216-045. View Details

Keywords: Hedge Fund; Long-short Equity; Growth Investing; Growth and Development Strategy; Investment; Valuation; Technology; Technology Industry; Waltham

2023
Working Paper

The Effects of Cryptocurrency Wealth on Household Consumption and Investment

By: Darren Aiello, Scott R. Baker, Tetyana Balyuk, Marco Di Maggio, Mark J. Johnson and Jason Kotter

This paper uses transaction-level data across millions of accounts to identify cryptocurrency investors and evaluate how fluctuations in individual crypto wealth affect household consumption, equity investment, and local real estate markets. We estimate an MPC out of... View Details

Keywords: Cryptocurrency; Marginal Propensity To Consume; Household Balance Sheet; Real Estate; Etherium; Bitcoin; Investment; Housing; Spending

SSRN

January 2004 (Revised April 2004)
Case

Ford Motor Company: Quality of Earnings Growth Analysis (A)

By: David F. Hawkins and Jacob Cohen

Even though Ford Motor Co. reports improved profitability, an equity analyst issues a sell recommendation and Standard & Poor's downgrades long-term debt. View Details

Keywords: Quality; Business Earnings; Valuation; Investment Return; Profit; Financial Statements; Revenue; Auto Industry; Consulting Industry

Educators

2013
Chapter

Growth and the Quality of Foreign Direct Investment: Is All FDI Equal?

By: Laura Alfaro and Andrew Charlton

In this paper we distinguish different "qualities" of FDI to re-examine the relationship between FDI and growth. We use "quality" to mean the effect of a unit of FDI on economic growth. However, this is difficult to establish because it is a function of many different... View Details

Keywords: Quality; Economic Growth; Foreign Direct Investment

September 2024
Article

Investing in the Next Generation: The Long-Run Impacts of a Liquidity Shock

By: Patrick Agte, Arielle Bernhardt, Erica M. Field, Rohini Pande and Natalia Rigol

How do poor entrepreneurs trade off investments in business enterprises versus children's human capital, and how do these choices influence intergenerational socio-economic mobility? To examine this, we exploit experimental variation in household income resulting from... View Details

Keywords: Socio-economic Mobility; Entrepreneurship; Education; Income; Literacy; Poverty

Register to Read

March 2010
Article

Does Foreign Direct Investment Promote Growth? Exploring the Role of Financial Markets on Linkages

By: Laura Alfaro, Sebnem Kalemli-Ozcan, Areendam Chanda and Selin Sayek

Do multinational companies generate positive externalities for the host country? The evidence so far is mixed varying from beneficial to detrimental effects of foreign direct investment (FDI) on growth, with many studies that find no effect. In order to provide an... View Details

Keywords: Foreign Direct Investment; Multinational Firms and Management; Financial Markets; Value; Stock Shares; Development Economics

25 Feb 2002
Research & Ideas

MNCs in Asia: Investing in the Future

"You have to be realistic," said Newman. "You also have to understand that there will be a cost for corporations that don't participate in this market. The key is to invest prudently, and to expand capacity over time."... View Details

Keywords: by Julia Hanna

March 2017
Article

Entrepreneurial Beacons: The Yale Endowment, Run-ups, and the Growth of Venture Capital

By: Y. Sekou Bermiss, Benjamin J. Hallen, Rory McDonald and Emily Cox Pahnke

This paper investigates the social context of entrepreneurship in organizational sectors. Prior research suggests that firm foundings are driven by collective patterns of activity—that is, by patterns of prior foundings—including support from related markets as well as... View Details

Keywords: Signals; Social Salience; Venture Capital; Higher Education; Organizations; Entrepreneurship; Investment

July 2007
Teaching Note

Foreign Direct Investment and South Africa (TN)

By: Eric D. Werker

Teaching Note to 707019. View Details

Keywords: Foreign Direct Investment; Governing Rules, Regulations, and Reforms; Investment; Decisions; Economic Growth; Private Sector; Balance and Stability; South Africa

17 Jun 2002
Research & Ideas

Entrepreneurship in Asia and Foreign Direct Investment

Foreign Direct Investment (FDI) is often lauded for bringing economic growth and know-how to developing countries. The conventional wisdom is not necessarily wrong, but the real story is much more nuanced... View Details

Keywords: by Martha Lagace

October 2020
Case

HOPE and Transformational Lending: Netflix Invests in Black Led Banks

By: John D. Macomber and Janice Broome Brooks

Following the killing of George Floyd on Memorial Day in 2020, the large US corporation Netflix elected to make a "transformational deposit" of $10 million into Hope Credit Union (HCU), a small Black led community development finance institution (CDFI) based in... View Details

Keywords: Banking; Rural Entrepreneurship; Economic Development; Black Entrepreneurs; Economic Growth; Credit; Banks and Banking; Entrepreneurship; Rural Scope; Development Economics; Race; Investment; Decision Making; Banking Industry

Educators

28 Nov 2023
Book

Economic Growth Draws Companies to Asia. Can They Handle Its Authoritarian Regimes?

safety. In fact, the relationship between business entities and the state in autocracies can involve a delicate dance. While many authoritarian regimes desire capitalists for the growth and legitimacy they can generate, a tension of... View Details

Keywords: by Sean Silverthorne

Article

Ten Year Sunset Rule for Healthcare Regulation Is a Nonstarter and Discouragement to Post-COVID-19 Investment

By: Regina E. Herzlinger and Eugene Schneller

U.S. healthcare delivery has not benefitted from the same productivity growth as many other service industries, such as bricks and mortar retailing, a loss that has gravely diminished cost control and access. Regulatory capture, which creates barriers to venture... View Details

Keywords: Health Care; COVID-19; Regulation; Health Care and Treatment; Health Pandemics; Governing Rules, Regulations, and Reforms; Investment

Research Summary

Growth and the Quality of Foreign Direct Investment: Is All FDI Equal? (joint with Andrew Charlton)

By: Laura Alfaro

In this paper we distinguish different qualities of FDI to re-examine the relationship between FDI and growth. Establishing the quality of FDI, however, is a difficult concept. Quality, that is the effect of a unit of FDI on economic growth, is a combination and... View Details

12 PM – 1 PM EST, 12 Dec 2019
Webinars: Career

From Private Equity to Private Debt: Key Trends in Alternative Investments

Private equity industry has expanded substantially to include new strategies, new players, and new funding models. Professor Victoria Ivashina will explore new trends, limits to disintermediation, growth potential, and what to keep in mind if you are exploring these... View Details

2013
Chapter

The Welfare State as an Investment Strategy: Denmark’s Flexicurity Policies

By: Arthur Daemmrich and Thomas Bredgaard

This chapter examines how the welfare state can serve as a national strategy to invest in economic competitiveness and sustainable national prosperity, as well as the significant challenges associated with operating an open economy in a period of increased labor... View Details

Keywords: Open Economy; Welfare; Competitive Advantage; Economic Growth; Human Capital; Government and Politics; Denmark