Publications

03 Jun 2013
News

The Importance of Appearing Savvy

2024
Working Paper

Fire Sales of Safe Assets

By: Gabor Pinter, Emil Siriwardane and Danny Walker

We use trade-level data to study price pressure effects in the UK gilt market from September to October 2022. During this period, forced sales by liability-driven investment funds (LDIs) led to price discounts on the order of 10%, accounting for roughly half the total... View Details

Keywords: Investment Funds; Capital Markets; United Kingdom

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August 2013
Article

Customer-Driven Misconduct: How Competition Corrupts Business Practices

By: Victor Manuel Bennett, Lamar Pierce, Jason A. Snyder and Michael W. Toffel

Competition among firms yields many benefits but can also encourage firms to engage in corrupt or unethical activities. We argue that competition can lead organizations to provide services that customers demand but that violate government regulations, especially when... View Details

Keywords: Competition; Crime and Corruption; Management Practices and Processes; Ethics; Consumer Behavior; Customer Satisfaction; Auto Industry; Service Industry

Front Page News: The Effect of News Positioning on Financial markets

This paper estimates the effect of presentation of information on financial markets, using quasi-random variation in prominent "front page" positioning of news on the Bloomberg... View Details

Research Summary

Mobile web advertising: maximum entropy banner allocation

The worldwide mobile advertising market, currently $3 billion in size, is expected to grow to $20 billion by 2011. Online and mobile advertising employs two main pricing models: pay-per-click (CPC) and pay-per-impression (CPM). To date, most of the... View Details

April 2019 (Revised October 2020)
Case

Kraft Heinz: The $8 Billion Brand Write-Down

By: Jill Avery

On Friday, February 22, 2019, following an unexpected and disappointing earnings report, The Kraft Heinz Company’s stock price fell 27%, wiping out $16 billion in market value. CEO Bernardo Hees had announced that the company had taken a $15.4 billion asset write-down,... View Details

Research Summary

Overview

Selected current projects: Shared Decision Making and Patient Engagement in Orthopaedic Surgery Identification of Risk Factors for Revision Surgery Following Primary THA and TKA Integrated Care Delivery and Episode of Care Payments in Hip and Knee Arthroplasty The... View Details

2009
Case

Midland Energy Resources, Inc.: Cost of Capital (TN): Brief Case.

By: Timothy A. Luehrman and Joel L. Heilprin

Finance, Capital Asset Pricing Model (CAPM), Weighted Average Cost of Capital (WACC), Capital Structure, Risk Assessment, Corporate Finance, Cash Flow, Valuation, Beta, North America, Energy, Oil and Gas, Cost of Capital, Cost of Equity, Discount Rate, Risk Premium,... View Details

Keywords: Capital Budgeting; Cost of Capital; Energy Industry

31 Oct 2022
Video

Health Minute: Amitabh Chandra

February 2004 (Revised September 2006)
Case

Finding a Response: Pixar and a Coy Story

Pixar, Inc. is the subject of an article that suggests its share price is currently overvalued. The article is picked up in summary by several wire services. Pixar's management must determine the appropriate public response. Its choices range from ignoring the article,... View Details

Keywords: Media; Animation Entertainment; Decision Making; Film Entertainment; Communication Strategy; Entertainment and Recreation Industry; Media and Broadcasting Industry

06 Mar 2019
News

Tesla’s Online Selling Is a Big Bet on Millennials

April 2001 (Revised August 2001)
Case

Risk Management at Apache

After initiating a hedging strategy, Apache Corp. is interested in revisiting its decision to determine if hedging is value-adding. This case investigates how the company initially decided to hedge against commodity price risk and how it implemented its hedging... View Details

Keywords: Risk Management; Investment; Corporate Finance

15 Apr 2015
News

Biogen, Danish company in patent spat worth billions

March 2007 (Revised March 2008)
Case

The Nikkei 225 Reconstitution

By: Robin Greenwood

Taka Haneda, a proprietary trader at the Tokyo office of Goldman Sachs, has just learned that the Nikkei 225 will undergo a significant redefinition over the coming week. He faces several billion dollars of customer orders, as well as the opportunity to commit the... View Details

Keywords: Financial Liquidity; Stocks; Investment Return; Price; Market Transactions; Financial Services Industry; Tokyo

March 2000
Case

Dell Computer Corporation: Share Repurchase Program

By: George C. Chacko and Luis M. Viceira

Dell Computer Corp. announced a share repurchase program shortly after a significant stock price drop. In this announcement, the company also states that it will use options contracts. This case looks at the options transactions and how they relate to Dell's employee... View Details

Keywords: Financial Strategy; Stock Options; Employee Stock Ownership Plan; Computer Industry

14 Jul 2006
Op-Ed

The Case for Consumer-Driven Medicaid

The Medicaid program provides a much needed health insurance safety net for 52 million of our nation's poor and medically needy, but its price tag threatens the financial stability of the states, growing 9.5 percent in 2004 alone—far in... View Details

Keywords: by Regina E. Herzlinger

March 1994 (Revised December 2014)
Case

Humana, Inc.: Managing in a Changing Industry

By: Stuart Gilson

Intensifying competition and change in the U.S. health care industry force a large integrated health-care provider to reassess its strategy of operating both hospitals and health insurance plans (HMOs). In an attempt to increase its stock price and operating... View Details

Keywords: Business Strategy; Restructuring; Change Management; Financial Management; Health Industry

July 1996
Case

Edmund's--www.edmunds.com

Edmund's publishes an automobile price guide in books (600,000 units per year) and over the Internet (16,000 users a day and growing). The site can be visited at www.edmunds.com. In the marketplace, it makes money selling books. In the marketspace, they make their... View Details

Keywords: Business or Company Management; Digital Platforms; Marketplace Matching; Information Publishing; Information Industry; Auto Industry