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  • All HBS Web  (5,034)
    • People  (5)
    • News  (1,082)
    • Research  (3,492)
    • Events  (8)
    • Multimedia  (42)
  • Faculty Publications  (2,559)
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  • Profile

Joy Chen

she studied government and economics. “I wanted to manage organizations that changed people’s lives for the better.” While there, she cofounded local chapters of two nonprofits, in education and healthcare... View Details
  • June 2025
  • Case

TfL Pension Fund and the 2022 Gilt Market Crisis

By: Emil N. Siriwardane, Vincent Dessain, Emer Moloney and Carlota Moniz
On September 27, 2022, Padmesh Shukla, CIO of the Transport for London (TfL) Pension Fund, was keeping a careful eye on the turmoil in the U.K. sovereign bond (or gilt) market. When the new government announced the largest tax cuts the U.K. had seen in half a century,... View Details
Keywords: Financial Crisis; Macroeconomics; Assets; Asset Management; Borrowing and Debt; Corporate Finance; Capital Markets; Equity; Financial Liquidity; Financial Instruments; Financial Strategy; Interest Rates; Governing and Advisory Boards; Crisis Management; Resource Allocation; Investment; Financial Services Industry; United Kingdom; England; London; Europe
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Siriwardane, Emil N., Vincent Dessain, Emer Moloney, and Carlota Moniz. "TfL Pension Fund and the 2022 Gilt Market Crisis." Harvard Business School Case 225-098, June 2025.
  • Web

HBS - The year in Review

Management Seth Neel Technology & Operations Management Charlotte L. Robertson Business, Government & the International Economy Marco Sammon Finance Lumumba B. Seegars Organizational Behavior Faculty... View Details
  • Web

California - Global

workforce and redefining how enterprises think about productivity and automation. Through a detailed look at Agentforce’s internal rollout, early customer deployments, and evolving pricing and governance strategies, the case provides a... View Details
  • 2011
  • Working Paper

Historical Trajectories and Corporate Competences in Wind Energy

By: Geoffrey Jones and Loubna Bouamane
This working paper surveys the business history of the global wind energy turbine industry between the late nineteenth century and the present day. It examines the long-term prominence of firms headquartered in Denmark, the more fluctuating role of U.S.-based firms,... View Details
Keywords: Business History; Renewable Energy; Competitive Advantage; Technology Adoption; Policy; Business and Government Relations; Energy Industry; United States; Denmark
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Jones, Geoffrey, and Loubna Bouamane. "Historical Trajectories and Corporate Competences in Wind Energy." Harvard Business School Working Paper, No. 11-112, May 2011.
  • Web

Leadership - Faculty & Research

corporations in recent years. Examples of this kind of “David vs. Goliath” battle included BlueBell Capital successfully removing Danone’s CEO in March 2021 and Engine No. 1 winning three board seats at ExxonMobil in May 2021. Keywords: Corporate View Details
  • Web

Technology & Innovation - Faculty & Research

and unfunded firms. Because randomization of the sample was not feasible, we address endogeneity around selection bias using a sample of qualitatively similar firms based on a funding decision score. This allows us to observe the local... View Details
  • May 1991
  • Article

Presidential Commitment and the Veto

By: Daniel E. Ingberman and Dennis Yao
A president's power to veto is widely recognized as an important weapon in the struggle with Congress over legislation. In this paper we investigate the effectiveness of the veto weapon with a simple model of presidential powers that incorporates informal institutional... View Details
Keywords: Government Legislation; Laws and Statutes; Financial Markets; Value; Taxation; Conflict and Resolution; Research; Performance Effectiveness; Legal Services Industry
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Ingberman, Daniel E., and Dennis Yao. "Presidential Commitment and the Veto." American Journal of Political Science 35, no. 2 (May 1991): 357–389. (Harvard users click here for full text.)
  • Summer 2021
  • Article

The Cost and Evolution of Quality at Cipla Ltd, 1935–2016

By: Muhammad H. Zaman and Tarun Khanna
This article examines the evolution of Indian pharmaceutical manufacturer Cipla towards producing drugs that met the quality standards of European and U.S. regulators. It employs new research in Cipla’s corporate archives, the Creating Emerging Markets database, and... View Details
Keywords: Cipla; Pharmaceuticals; Drug Quality; Generics; Quality; Standards; Information Technology; Cost; Organizational Culture; Business History; Pharmaceutical Industry; India
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Zaman, Muhammad H., and Tarun Khanna. "The Cost and Evolution of Quality at Cipla Ltd, 1935–2016." Business History Review 95, no. 2 (Summer 2021): 249–274.
  • 2010
  • Casebook

Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture

By: Laura Alfaro
All managers face a business environment in which international and macroeconomic phenomena matter. International capital flows can significantly affect countries' development efforts and provide clear investment opportunities for businesses. During the 1990s and early... View Details
Keywords: Financial Crisis; Capital; International Finance; Globalized Economies and Regions; Policy; Government and Politics; Business and Government Relations
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Alfaro, Laura. Global Capital and National Institutions: Crisis and Choice in the International Financial Architecture. Singapore: World Scientific Publishing, 2010.
  • 27 Apr 2016
  • Research & Ideas

How the FBI Reinvented Itself After 9/11

identity,” they write. Triage, search, and crystallization Before 9/11, the FBI had a fairly decentralized design, owing to the local nature of most crimes. The Bureau operated 56 field offices in major cities, each focused on solving... View Details
Keywords: by Carmen Nobel
  • Article

Does Front-Loading Taxation Increase Savings?: Evidence from Roth 401(k) Introductions

By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
Can governments increase private savings by taxing savings up front instead of in retirement? Roth 401(k) contributions are not tax-deductible in the contribution year, but withdrawals in retirement are untaxed. The more common before-tax 401(k) contribution is... View Details
Keywords: Saving; Retirement; Taxation
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Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. "Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(k) Introductions." Journal of Public Economics 151 (July 2017): 84–95.
  • 01 Sep 2023
  • News

In My Humble Opinion: Futures Investor

rowed lightweight crew. His worldview broadened during two years of military service as an officer with the Navy SEALs in Vietnam and a subsequent US State Department posting in Upper Volta (now Burkina Faso). Roosevelt’s State Department responsibilities included... View Details
Keywords: Deborah Blagg; climate change; investment banking; leadership; carbon tax
  • February 2023
  • Article

Increasing the Demand for Workers with a Criminal Record

By: Zoë Cullen, Will Dobbie and Mitchell Hoffman
State and local policies increasingly restrict employers’ access to criminal records, but without addressing the underlying reasons that employers may conduct criminal background checks. Employers may thus still want to ask about a job applicant’s criminal record... View Details
Keywords: Criminal Record; Hiring; Background Checks; Recruitment; Insurance
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Cullen, Zoë, Will Dobbie, and Mitchell Hoffman. "Increasing the Demand for Workers with a Criminal Record." Quarterly Journal of Economics 138, no. 1 (February 2023): 103–150.
  • 2013
  • Working Paper

International Health Economics

By: Mark Egan and Tomas J. Philipson
Perhaps because health care is a local service sector, health economists have paid little attention to international linkages between domestic health care economies. However, the growth in domestic health care sectors is often attributed to medical innovations whose... View Details
Keywords: Health Care and Treatment; Innovation and Invention; Global Range; Economics
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Egan, Mark, and Tomas J. Philipson. "International Health Economics." NBER Working Paper Series, No. 19280, August 2013.
  • 04 Dec 2012
  • First Look

First Look: December 4

Lerner, Morten Sorensen, and Per Strömberg Publication:Journal of Finance (forthcoming) Abstract A long-standing controversy is whether LBOs relieve managers from short-term pressures of dispersed shareholders, or whether LBO funds... View Details
Keywords: Carmen Nobel
  • September 2002 (Revised March 2006)
  • Case

Environmental Power Corporation: Changing Manure Into Gold?

By: Ray A. Goldberg and Laure Mougeot Stroock
In 2002, Environmental Power Corp. (EPC), a small company developing renewable energy projects, was attempting to commercialize its "digester," a facility that extracted methane from manure, reduced manure's environmental impact, and generated electricity. The company... View Details
Keywords: Commercialization; Energy Generation; Renewable Energy; Environmental Sustainability; Investment; Projects; Wastes and Waste Processing; Corporate Finance; Business and Government Relations; Energy Industry
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Goldberg, Ray A., and Laure Mougeot Stroock. "Environmental Power Corporation: Changing Manure Into Gold?" Harvard Business School Case 903-403, September 2002. (Revised March 2006.)
  • 2019
  • Working Paper

Real Exchange Rate Behavior: New Evidence from Matched Retail Goods

By: Alberto Cavallo, Brent Neiman and Roberto Rigobon
We use a dataset containing daily prices for thousands of matched retail products in nine countries to study tradable-goods real exchange rates. Prices were collected from the websites of large multi-channel retailers and then carefully matched into narrowly-defined... View Details
Keywords: Purchasing Power Parity; Online Prices; Real Exchange Rate; Macroeconomics; Currency Exchange Rate; Price; Internet and the Web
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Cavallo, Alberto, Brent Neiman, and Roberto Rigobon. "Real Exchange Rate Behavior: New Evidence from Matched Retail Goods." Harvard Business School Working Paper, No. 20-040, January 2019.
  • March 2007 (Revised April 2007)
  • Case

Micro Insurance Agency: Helping the Poor Manage Risk

By: Michael Chu and Jean Hazell
The notable success of insurance products for low-income clients of its microfinance network leads Opportunity International to launch the first global specialized microinsurance company, the Micro Insurance Agency (MIA). Building on the experience in 10 countries... View Details
Keywords: Developing Countries and Economies; Cost Management; Microfinance; Globalization; Growth and Development Strategy; Risk Management; Infrastructure; Nonprofit Organizations; Competition; Financial Services Industry; Africa; Asia; Latin America
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Chu, Michael, and Jean Hazell. "Micro Insurance Agency: Helping the Poor Manage Risk." Harvard Business School Case 307-089, March 2007. (Revised April 2007.)
  • Web

A Campus Built on Philanthropy | About

force in US finance and industry. At the age of 23, he invested $3,000 to become an original shareholder in the First National Bank, where he worked as a teller. Just 14 years later, he became the bank’s president. Under his conservative... View Details
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