Publications

19 Mar 2014
Working Paper Summaries

The Use of Broker Votes to Reward Brokerage Firms’ and Their Analysts’ Research Activities

Keywords: by David A. Maber, Boris Groysberg & Paul M. Healy; Financial Services

March 1993
Supplement

Burroughs Wellcome and AZT (B)

By: Willis M. Emmons III

Describes Burroughs Wellcome's response to protests over the pricing of its AIDS drug AZT in September 1989. Also presents short-term reactions by government officials, AIDS activists, and investors to Burroughs Wellcome's strategy. View Details

Keywords: Ethics; Health Pandemics; Multinational Firms and Management; Price; Crime and Corruption; Risk and Uncertainty; Business Strategy; Business and Community Relations; Business and Government Relations; Business and Shareholder Relations; Pharmaceutical Industry

13 Apr 2010
First Look

First Look: April 13

problem of an investor with power utility defined over wealth at a finite horizon, who faces a time-varying investment opportunity set, parameterized using a flexible vector autoregression. We apply this framework to study the horizon... View Details

Keywords: Martha Lagace

October 2017
Supplement

Snap Inc. Goes Public (B)

By: Lynn Sharp Paine and Will Hurwitz

Supplements the (A) case.

Snap Inc.’s chairman must decide how to address investor concerns about the company’s unprecedented plans to issue only non-voting shares in its upcoming IPO. View Details

Keywords: Ethics; Capital Structure; Corporate Accountability; Governing and Advisory Boards; Corporate Governance; Going Public; Business and Shareholder Relations; Leadership; Management; Mobile and Wireless Technology; Venture Capital; Technology Industry; Telecommunications Industry; Information Technology Industry; United States; California

06 Nov 2012
First Look

First Look: November 6

is related to higher UK CEO pay; however, the effect is similar when UK firms have a listing in any foreign country implying a foreign listing effect not unique to the U.S. Product market relationships measured by the extent of sales in... View Details

Keywords: Sean Silverthorne

16 Jun 2015
First Look

First Look: June 16, 2015

Abstract—Under fairly general assumptions, expected stock returns are a linear combination of two firm fundamentals-book-to-market ratio and return on equity. This parsimonious relation is pervasive, producing expected return proxies... View Details

Keywords: Sean Silverthorne

28 Apr 2014
Research & Ideas

Football Stars Debate ‘The Social Capital of the Savvy Athlete’

Foster, who has about 438,000 Twitter followers. While he didn't set out to benefit commercially when he joined Twitter, he said, "The more followers you get, the more opportunity for monetary gain." In fact, investors may soon... View Details

Keywords: by Carmen Nobel; Sports

August 2013 (Revised December 2017)
Supplement

Harold Mills at ZeroChaos (B)

By: Lena G. Goldberg and Maurice L. Kuykendoll II

After leading a management buy-out, Harold Mills transformed ZeroChaos into a global staffing enterprise. Poised to raise additional capital to fund the company's next phase of growth, he was also confronting the liquidity demands of his early-stage investors and... View Details

Keywords: Business Growth and Maturation; Growth and Development Strategy; Business and Shareholder Relations

23 May 2011
Op-Ed

Leading and Lagging Countries in Contributing to a Sustainable Society

Editor's note: Please see related story, Corporate Sustainability Reporting: It's Effective. To what extent companies contribute to a sustainable society is a question increasingly important, not only to the companies themselves, but also... View Details

Keywords: by Robert G. Eccles & George Serafeim

07 Nov 2011
Working Paper Summaries

Investment Cycles and Startup Innovation

Keywords: by Ramana Nanda & Matthew Rhodes-Kropf

Innovating for Sustainability

Every major company is grappling with the meaning and application of sustainability in relation to its geographic location, industry and business model. Similarly, more and more institutional investors are incorporating sustainability into their... View Details

January 2014 (Revised January 2014)
Case

Showdown at Cracker Barrel

By: Suraj Srinivasan and Tim Gray

In the fall of 2011, activist investor, Sardar Biglari, has acquired nearly 10% ownership in the Cracker Barrel restaurant chain. He believes that the board and senior management have failed and the company has underperformed relative to its peers. When he is denied a... View Details

September 2023
Case

Breaking Barriers: How Brex is Shaping the Future of Financial Services for Startups

By: Marco Di Maggio, James Barnett and Susie L. Ma

In 2020, Henrique Dubugras and Pedro Franceschi, co-founders and co-CEO’s of the fintech company Brex, needed to determine how to balance their vision with the desires of their investors. They intended to expand Brex’s offerings to include other products that served... View Details

Keywords: Business and Stakeholder Relations; Expansion; Growth and Development Strategy; Entrepreneurial Finance; Financial Services Industry

October 2022 (Revised June 2024)
Case

Driving Decarbonization at BMW

By: Shirley Lu, George Serafeim and Michael W. Toffel

The case describes BMW’s electrification and decarbonization strategy, and how the company measured carbon emissions throughout the life cycle of its vehicles and used tools like carbon abatement cost curves to evaluate decarbonization opportunities. In mid-2022,... View Details

2010
Chapter

Backlash to Arbitration: Three Causes

By: Louis T. Wells

There are at least three reasons for the current backlash among developing countries against the international regime that governs disputes between foreign investors and host governments. First is the inconsistency of the decisions rendered by arbitration panels... View Details

Keywords: Developing Countries and Economies; International Finance; Foreign Direct Investment; Agreements and Arrangements; Business and Government Relations; Conflict Management

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May 2016
Case

The Inexorable Rise of Walmart? 1988—2016

By: John R. Wells and Gabriel Ellsworth

In October 2015, Walmart surprised investors by announcing that it expected flat sales growth for 2015 and growth of only 3% to 4% over the coming three years. Profits would also fall due to significant investments in people and technology. The company’s stock price... View Details

Keywords: Asda; Costco; David Glass; Convenience Stores; Discount Retailing; Dollar Stores; Doug McMillon; E-commerce; Online Retail; General Merchandise; Grocery; Lee Scott; Mike Duke; Multichannel Retailing; Omnichannel; Neighborhood Market; Sam Walton; Sam's Club; Store Formats; Supercenter; Supermarket; Warehouse Clubs; Merchandising; Walmart; Wal-Mart; Globalized Firms and Management; Competitive Strategy; Corporate Strategy; Growth and Development Strategy; Business Units; Business Divisions; Business Growth and Maturation; Business Model; Business Organization; For-Profit Firms; Film Entertainment; Television Entertainment; Banks and Banking; Price; Profit; Revenue; Food; Global Range; Cross-Cultural and Cross-Border Issues; Global Strategy; Business History; Compensation and Benefits; Employees; Human Capital; Labor Unions; Wages; Business or Company Management; Goals and Objectives; Management Succession; Brands and Branding; Product Positioning; Distribution; Supply Chain; Supply Chain Management; Public Ownership; Problems and Challenges; Labor and Management Relations; Strategy; Adaptation; Business Strategy; Competition; Competitive Advantage; Diversification; Expansion; Segmentation; Information Technology; Internet; Mobile Technology; Online Technology; Web; Web Sites; Retail Industry; Food and Beverage Industry; Distribution Industry; Banking Industry; United States; Arkansas; Bentonville

May 2002
Case

Venture Capital Fund Restructuring Vignettes (Abridged)

By: Paul A. Gompers

This case examines the changes in fund structures proposed by four venture capital firms in 2002: Accel Partners, Battery Ventures, Charles River Ventures, and Kleiner Perkins Caufield & Byers. The venture capital market has experienced a major downturn, and these... View Details

Keywords: Venture Capital; Restructuring; Financial Crisis; Motivation and Incentives; Business and Shareholder Relations; Investment Funds; Financial Services Industry

Article

Resources and Relationships in Entrepreneurship: An Exchange Theory of the Development and Effects of the Entrepreneur-Investor Relationship

By: Laura Huang and Andrew P. Knight

We develop a theoretical model, grounded in exchange theory, about the process through which relationships between entrepreneurs and investors develop and influence the growth of new ventures. Our theory highlights the multifaceted relationships that entrepreneurs and... View Details

Keywords: Entrepreneurship; Relationships; Business Startups; Business and Shareholder Relations; Theory

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