Publications

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12 Aug 2020
Research & Ideas

Why Investors Often Lose When They Sue Their Financial Adviser

[by the disputing parties] tend to be more industry friendly. This also incents arbitrators to slant their decisions in favor of the industry to increase their chance of being selected in the future.”... View Details

Keywords: by Danielle Kost; Financial Services

August 2008
Article

Ethnic Scientific Communities and International Technology Diffusion

By: William R. Kerr

This study explores the importance of knowledge transfer for international technology diffusion by examining ethnic scientific and entrepreneurial communities in the US and their ties to their home countries. US ethnic research communities are quantified by applying an... View Details

Keywords: Information Technology; Ethnicity; Production; Integration; Knowledge Sharing; Patents; Employment; Performance Productivity; Entrepreneurship; Change; Developing Countries and Economies; Immigration; China; United States

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April 2008
Case

Chunghwa Telecom Co., Ltd. (A)

By: Paul W. Marshall, Michael Shih-ta Chen and Keith Chi-ho Wong

In late November 2000, Chunghwa Telecom Co., Ltd., the once-monopolized telecom operator owned by the Taiwanese government, was on its way to privatization. Mr. C.K. Mao, Chairman of the company, who headed the job only three months earlier, after its prior chairman... View Details

Keywords: Entrepreneurship; Governing Rules, Regulations, and Reforms; Employee Relationship Management; Leading Change; Organizational Change and Adaptation; Privatization; Competition; Telecommunications Industry; Taiwan

February 2019 (Revised September 2019)
Case

Theranos: The Unicorn That Wasn't

By: Joseph B. Fuller and John Masko

In 2003, 19-year-old Elizabeth Holmes founded a startup dedicated to making blood testing easier and more affordable. By 2015, her company, Theranos, was worth $9 billion. It boasted a star-studded board and contracts with national pharmacy and supermarket chains... View Details

Keywords: Theranos; Blood; Lab Testing; Fraud; Holmes; Balwani; Shultz; Carreyrou; Securities And Exchange Commission; Food And Drug Administration; FDA; SEC; Health Testing and Trials; Corporate Accountability; Organizational Culture; Misleading and Fraudulent Advertising; Crime and Corruption; Entrepreneurship; Medical Devices and Supplies Industry

March 2025 (Revised June 2025)
Case

No One Left Behind (A)

By: Lynn S. Paine, Herman B. "Dutch" Leonard, Max Hancock and David Lane

In September 2021, the board of directors for the nonprofit No One Left Behind (NOLB) faced a crucial decision. Since its 2013 founding, NOLB had helped resettle in the United States thousands of Afghans and Iraqis who had assisted U.S. forces as combat translators;... View Details

Keywords: Business Growth and Maturation; Governance; Governing and Advisory Boards; Mission and Purpose; Nonprofit Organizations; Conflict and Resolution; Service Industry; Afghanistan; United States

September 2022 (Revised April 2023)
Case

Cesaro e Associati

By: Christina R. Wing and Amram Migdal

This case describes the leadership succession planning process at Cesaro e Associati (Studio Cesaro), founded in 1986 by Franco Cesaro in the northeastern Italian state of Veneto. In 2022, Franco was contemplating retirement and passing leadership of his firm, which... View Details

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Research - Behavioral Finance & Financial Stability

government-introduced business lending and corporate bond purchase programs in response to the COVID-19 pandemic. In contrast to the classic lender-of-last-resort thinking, the authors argue that an effective policy response to the pandemic will require the View Details

16 Mar 2010
First Look

First Look: March 16

had full access to corporate archives and executives and provides us with a unique insight into the workings and strategies of one of the world's oldest and largest multinationals. Capitalism: Its Origins and Evolution As a System of View Details

Keywords: Martha Lagace

04 Feb 2013
Research & Ideas

Are the Big Four Audit Firms Too Big to Fail?

the risks of failure. Adding to this concern is that even as the number of mega audit firms has contracted from eight in the 1980s to four today, their combined market share remains formidable, especially in the United States. The View Details

Keywords: by Martha Lagace; Accounting

06 Mar 2018
First Look

First Look at Research and Ideas, March 6, 2018

provide insights into why and how investors use reported environmental, social, and governance (ESG) information. Relevance to investment performance is the most frequent motivation for use of ESG data followed by client demand and... View Details

Keywords: Sean Silverthorne

January 2020
Article

Gifts of the Immigrants, Woes of the Natives: Lessons from the Age of Mass Migration

By: Marco Tabellini

In this paper, I jointly investigate the political and the economic effects of immigration and study the causes of anti-immigrant sentiments. I exploit exogenous variation in European immigration to U.S. cities between 1910 and 1930 induced by World War I and the... View Details

Keywords: Political Backlash; Age Of Mass Migration; Cultural Diversity; Immigration; History; Economy; Attitudes; Cross-Cultural and Cross-Border Issues; Diversity

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2011
Book

Moving Forward: The Future of Consumer Credit and Mortgage Finance

By: Nicolas P. Retsinas and Eric Belsky

The recent collapse of the mortgage market revealed fractures in the credit market that have deep roots in the system's structure, conduct, and regulation. The time has come for a clear-eyed assessment of what happened and how the system should be strengthened and... View Details

Keywords: Financial Crisis; Capital Markets; Credit; Financial Markets; Mortgages; Personal Finance; Governing Rules, Regulations, and Reforms; Demand and Consumers; Financial Services Industry

March 2025
Supplement

No One Left Behind (D)

By: Lynn S. Paine, Herman B. "Dutch" Leonard, Max Hancock and David Lane

Supplement to HBS Case No. 325-007. In September 2021, the board of directors for the nonprofit No One Left Behind (NOLB) faced a crucial decision. Since its 2013 founding, NOLB had helped resettle in the United States thousands of Afghans and Iraqis who had assisted... View Details

Keywords: Business Growth and Maturation; Governance; Governing and Advisory Boards; Mission and Purpose; Nonprofit Organizations; Conflict and Resolution; Service Industry; Afghanistan; United States

March 2021 (Revised April 2021)
Case

Making Impact Investing Markets: IFC (A)

By: Shawn A. Cole, John Masko and T. Robert Zochowski

In 2017, the International Finance Corporation (IFC) faced the first big investment decision in its new Scaling Solar project. Founded in 1956, IFC was an international investment body with national governments as shareholders, whose mission was to promote economic... View Details

March 2013
Case

NovaStar Financial: A Short Seller's Battle

By: Suraj Srinivasan and Amy Kaser

The NovaStar case describes the challenges faced by short seller Marc Cohodes of hedge fund Rocker Partners as he tried to expose what he thought was widespread fraud in mortgage lender NovaStar Financial. The case is set in the time period from 2001 to 2007 and tracks... View Details

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Continuing Education - Business & Environment

created by climate change. Sustainable Business Strategy Online Become a purpose-driven leader by learning how to influence key stakeholders and integrate values into your work to catalyze system-level change. Sustainable Investing Online Evaluate environmental,... View Details

September 2009 (Revised June 2011)
Supplement

Citigroup's Exchange Offer (C)

By: Robin Greenwood and James Quinn

Citigroup faced considerable distress in early 2009. In late 2008, the bank had accepted $45 billion in preferred equity from the United States government via the Troubled Assets Relief Program (TARP). Yet, the stock had continued to slide in early 2009. In late... View Details

Keywords: Financial Instruments; Financial Services Industry

09 Oct 2001
Research & Ideas

Driven: How Human Nature Shapes Organizations

short of the government with its power of regulating an industry for the common good can stop such an outbreak of cutthroat competition. The government can take the lead in... View Details

Keywords: by Paul Lawrence & Nitin Nohria

March 2019 (Revised June 2019)
Case

Global Sourcing at Nike

By: Nien-hê Hsieh, Michael W. Toffel and Olivia Hull

This case explores the evolution of Nike’s global product sourcing strategy, in particular ongoing efforts to improve working conditions at its suppliers’ factories. When the case opens in July 2018, Vice President of Sourcing Amanda Tucker and her colleagues in Nike’s... View Details