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  • 23 Jun 2009
  • First Look

First Look: June 23

a surcharge for tall ones? The standard Utilitarian framework for tax analysis answers this question in the affirmative. Moreover, a plausible parameterization using data on height and wages implies a substantial height tax: a tall person... View Details
Keywords: Martha Lagace
  • 15 Sep 2003
  • Lessons from the Classroom

HBS Cases: Developing the Courage to Act

perspectives, or points of view. "There's got to be a plausible tension in the case," says W. Carl Kester, chair of the M.B.A. program and Industrial Bank of Japan professor of finance. "It's what allows me to build a... View Details
Keywords: by David A. Garvin
  • 24 Mar 2009
  • First Look

First Look: March 24, 2009

Exploiting micro-level household consumption data, we show that long-run stockholder consumption risk better captures cross-sectional variation in average asset returns than aggregate or non-stockholder consumption risk and provides more View Details
Keywords: Martha Lagace
  • 22 Apr 2014
  • First Look

First Look: April 22

decision-making is successful. Using plausibly exogenous variation in exposure to state-mandated personal finance and mathematics high school courses, affecting millions of students, this paper answers the question "Can good... View Details
Keywords: Sean Silverthorne
  • 11 Aug 2009
  • First Look

First Look: August 11, 2009

from 3% to 15% as a fraction of government budget without negatively affecting publication quality and quantity. This follows incentive policy change and leadership change at labs, an event whose timing is plausibly exogenous being... View Details
Keywords: Martha Lagace
  • 18 Sep 2018
  • First Look

New Research and Ideas, September 18, 2018

prior theory of subsidiary absorptive capacity and argue that larger subsidiaries, characterized by greater knowledge stock and a greater fraction of local employees, could plausibly absorb more knowledge from the local host country... View Details
Keywords: Dina Gerdeman
  • 06 Jun 2017
  • First Look

First Look at New Research and Ideas: June 6, 2017

index-based benchmarks do not adequately achieve this objective. Further, the index-benchmark selection is associated with governance-related frictions and is not driven by plausible alternative theories. Both structural calibration and... View Details
Keywords: Sean Silverthorne
  • 18 Aug 2009
  • First Look

First Look: August 18

policy may reflect dividend-averse institutions gravitating towards low dividend paying firms or managers adapting their payout policies to the interests of their institutional shareholders. Evidence is provided that both effects are operative. View Details
Keywords: Martha Lagace
  • 07 Aug 2007
  • First Look

First Look: August 7, 2007

that both effects are operative. Instrumental variables analysis indicates that plausibly exogenous changes in payout policy result in shifting institutional ownership patterns. Similarly, exogenous changes in the tax code indicate that... View Details
Keywords: Martha Lagace
  • 15 Jan 2013
  • First Look

First Look: January 15

particular setting. This paper exploits a plausibly exogenous change in the liability structure offered by a microfinance program in India, which shifted from individual to group liability lending. We find evidence that the lending model... View Details
Keywords: Sean Silverthorne
  • 15 Nov 2016
  • First Look

November 15, 2016

The increase in risk is greater than for a control group of banks that intended but failed to transition from private to public ownership, a result that is robust to using a plausibly exogenous instrument for failed transitions. The... View Details
Keywords: Sean Silverthorne
  • 01 Mar 2009
  • News

Buddy, Can You Spare a Trillion

China, whether over trade, Taiwan, Tibet, or some other as yet subliminal issue. The scenario may seem implausible. Yet it is easy to see how future historians could retrospectively construct plausible chains of causation to explain such... View Details
Keywords: Finance; Publishing Industries (except Internet); Information
  • 08 May 2007
  • First Look

First Look: May 8, 2007

Z. Ahmed, and Charles Cohen Abstract We use yearly variations in the price of oil to construct a powerful new instrument to test the impact of an important but often-overlooked foreign aid channel: money given by wealthy OPEC nations to their poorer Muslim allies. The... View Details
Keywords: Martha Lagace
  • 26 Oct 2010
  • First Look

First Look: October 26, 2010

consistent predictors of voting behavior. For the former, we estimate sharp measures that control for common characteristics of the network, as well as heterogeneous impacts of a common network characteristic across votes. For common seat locations, we identify a set... View Details
Keywords: Sean Silverthorne
  • 13 Sep 2019
  • News

Hollywood Ending

“Hang on a second, let me just get my phone real quick,” Meg Whitman (MBA 1979) says midway through a conversation one Friday morning in May, darting out the door of a glass-walled conference room in Los Angeles. She gives the entirely View Details
Keywords: Jen McFarland Flint; photo by Christina Gandolfo
  • 29 Jun 2007
  • First Look

First Look: June 29, 2007

facts of the case are described in Millstone & Subramanian (2007). This Commentary examines Oracle's alternatives and PeopleSoft's potential responses in the fall of 2004. I demonstrate that certain defects in the design of PeopleSoft's poison pill made a... View Details
Keywords: Martha Lagace
  • 28 Aug 2012
  • First Look

First Look: August 28

substantial variation across lenders, even within a particular setting. This paper exploits a plausibly exogenous change in the liability structure offered by a microfinance program in India, which shifted from individual to group... View Details
Keywords: Sean Silverthorne
  • 16 Jan 2019
  • Research & Ideas

What Football Firings Teach Managers About Staying Relevant

quartile findings suggest that the very best coaches—those that win Super Bowls and survive for more than 10 seasons with the same team—stay consistent and win over long periods of time due to exceptional management skills. Similarly, it is View Details
Keywords: by Boris Groysberg, Evan M.S. Hecht, and Abhijit Naik; Sports
  • 12 Feb 2008
  • First Look

First Look: February 12, 2007

variation in average asset returns than aggregate or non-stockholder consumption risk and provides more plausible economic magnitudes. We find that risk aversion estimates around 10 can match observed risk premia for the wealthiest... View Details
Keywords: Martha Lagace
  • 26 Feb 2008
  • First Look

First Look: February 26, 2008

year dummies. These effects separate across groups in a pattern that appears broadly plausible (e.g., the rich suffer environmental degradation more than the poor). Based on actual changes from 1975 to 1997, small contributions to... View Details
Keywords: Martha Lagace