Publications

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12 May 2015
Working Paper Summaries

Financing Payouts

Keywords: by Joan Farre-Mensa, Roni Michaely & Martin C. Schmalz

2016
Working Paper

Mapping the Economic Grand Tour: Travel and International Emulation in Enlightenment Europe

By: Sophus A. Reinert

As the itinerant wizard (technically one of the Maiar, if not the Istari) Gandalf wrote to the then domestically-inclined hobbit Frodo Baggins in J.R.R. Tolkien’s The Lord of the Rings, “Not all those who wander are lost.” Indeed, as the recent brouhaha over the... View Details

Keywords: Behavior; Globalization

2016
Working Paper

Innovating in Science and Engineering or 'Cashing In' on Wall Street? Evidence on Elite STEM Talent

By: Pian Shu

Using data on MIT bachelor's graduates from 1994 to 2012, this paper empirically examines the extent to which the inflow of elite talent into the financial industry affects the supply of innovators in science and engineering (S&E). I first show that finance does not... View Details

Keywords: Higher Education; Engineering; Personal Development and Career; Science; Finance

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April 2001 (Revised July 2001)
Case

Verge Software (A)

By: Dorothy A. Leonard and Elizabeth Kind

Scott Rozic, CEO of start-up Verge Software, has just told his board that he is taking the company in a totally new direction, moving from enterprise knowledge management software to Internet direct marketing. This case covers the start-up of the business, and Rozic's... View Details

Keywords: Venture Capital; Investment; Corporate Entrepreneurship; Business or Company Management; Business Strategy; Technological Innovation; Applications and Software; Management Teams; Governing and Advisory Boards; Business Startups; Decision Choices and Conditions; Product Development; Information Technology Industry; United States

2008
Working Paper

Catering through Nominal Share Prices

By: Malcolm Baker, Robin Greenwood and Jeffrey Wurgler

We propose and test a catering theory of nominal stock prices. The theory predicts that when investors place higher valuation on low-price firms, managers will maintain share prices at lower levels, and vice-versa. Using measures of time-varying catering... View Details

Keywords: Stocks; Stock Shares; Investment; Investment Return; Price; Theory; Valuation

23 Aug 2010
Research & Ideas

The Drive to Acquire’s Impact on Globalization

reward their own drives." Inspired by the writings and insights of Charles Darwin, specifically his 1871 masterwork The Descent of Man, Lawrence's new book, Driven to Lead: Good, Bad, and Misguided Leadership, offers managers an... View Details

Keywords: by Paul R. Lawrence

09 Mar 2003
Research & Ideas

Six Keys to Building New Markets by Unleashing Disruptive Innovation

Managers today have a problem. They know their companies must grow. But growth is hard, especially given today's economic environment where investment capital is difficult to come by and firms are reluctant... View Details

Keywords: by Clayton M. Christensen, Michael E. Raynor & Scott D. Anthony

27 Jul 2020
Book

Reflection: The Pause That Brings Peace and Productivity

what to do and when. “That is your call,” he says. What the design principles provide is a template for sound reflection in a hectic world. [div class=infogram-embed data-id=_/VZte60GUZvifD3GzJskt][/div] 1: Aim for good enough For many of the View Details

Keywords: by Dina Gerdeman

January 2009
Case

Berkshire Hathaway

By: Bharat N. Anand and Samhita Patwardhan Jayanti

Berkshire Hathaway describes the history and strategy of one of the best known investment firms over the last forty years. The case describes the investment philosophy of Warren Buffett, its legendary chairman and CEO, the gradual diversification of its portfolio, its... View Details

Keywords: History; Private Equity; Diversification; Resource Allocation; Investment Portfolio; Corporate Strategy; Investment; Corporate Governance

March 2022
Teaching Note

Sawiris Foundation: Elevating Education in Egypt

By: Brian Trelstad and Alpana Thapar

Teaching Note for HBS Case No. 322-023. Founded in 2001 by the Sawiris family, one of the wealthiest families in Egypt, the Sawiris Foundation for Social Development (SFSD) invested in human capital and provision of basic social services for the most marginalized... View Details

Keywords: Sustainable Development; Human Capital; Equality and Inequality; Education; Business Strategy; Social Enterprise; Social Issues; Partners and Partnerships; Growth and Development Strategy; Education Industry; Egypt

June 2013 (Revised July 2017)
Case

Angus Cartwright IV

By: Kenneth J. Hatten, William J. Poorvu, Howard H. Stevenson, Arthur I Segel and John H. Vogel, Jr.

Judy and John DeRight, looking to diversify their investment portfolios, have retained Angus Cartwright, Jr. to identify prospective real estate acquisitions. Mr. Cartwright has four potential properties that he feels merit an in-depth financial analysis. The case... View Details

Keywords: Acquisition; Cash Flow; Investment Return; Investment Portfolio; Taxation; Balanced Scorecard; Valuation

September 2016 (Revised August 2018)
Case

State Street—The Development and Growth of SHE

By: Vikram Gandhi

State Street Global Advisors was the investment arm of State Street Corporation, one of the largest custodians and asset managers in the world with over $2.3 trillion in assets under management. Inspired by demand from a large pension fund client for better gender... View Details

Keywords: ETF; Asset Management; Financial Services Industry

July 1995 (Revised April 1996)
Case

Cambridge Technology Partners (A)

By: Teresa M. Amabile, George P. Baker III and Michael Beer

Cambridge Technology Partners uses a highly innovative product strategy, supported by a human resources strategy, that has been very successful. However, high growth rates jeopardize product quality while tension about relative compensation levels between sales and... View Details

Keywords: Growth Management; Compensation and Benefits; Organizational Culture; Quality; Human Resources; Relationships; Innovation and Invention; Consulting Industry; Massachusetts

2013
Book

Sidetracked: Why Our Decisions Get Derailed and How We Can Stick to the Plan

By: Francesca Gino

You may not realize it but simple, irrelevant factors can have profound consequences on your decisions and behavior, often diverting you from your original plans and desires. Sidetracked will help you identify and avoid these influences so the decisions you make do... View Details

Keywords: Decision Making; Decision-making; Judgment; Decisions; Strategy; Behavior; Ethics; Attitudes

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Editorial

Moving Forward

By: George Serafeim

Commerce, the synthesis of entrepreneurship and business, has been one of the most powerful institutions the world has ever seen. Commerce unlocks the highest human potential for creativity, innovation, and discovery. View Details

Keywords: Change; Europe; Turnaround; Leadership; Change Management; Management Practices and Processes; Entrepreneurship; Europe

November 2001 (Revised December 2002)
Case

Tracking Stocks at Genzyme (A)

By: Malcolm S. Salter

Genzyme, a tracking stock pioneer, has used its innovative capital structure as a way to frame and grow its R&D-intensive business. Facing the question of how best to integrate a new acquisition into its tracking stock structure, Genzyme's top management is forced to... View Details

Keywords: Integration; Value Creation; Motivation and Incentives; Conflict of Interests; Stocks; Capital Structure; Research and Development; Corporate Governance; Biotechnology Industry

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2012
Working Paper

Colonial Institutions, Trade Shocks, and the Diffusion of Elementary Education in Brazil, 1889–1930

By: Aldo Musacchio, Andre Martinez-Fritscher and Martina Viarengo

In this paper, we examine the role of trade shocks in promoting the diffusion of elementary education in subnational units in Brazil during a period (1889–1930) in which they had relative financial autonomy to collect export taxes and spend on public goods. The... View Details

Keywords: History; Literacy; Voting; Education; Spending; Performance Improvement; Government and Politics; Brazil

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