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Show Results For
- All HBS Web
(1,442)
- News (545)
- Research (260)
- Events (1)
- Multimedia (11)
- Faculty Publications (169)
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- 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
Amabile, Teresa M., George P. Baker III, and Michael Beer. "Cambridge Technology Partners (A)." Harvard Business School Case 496-005, July 1995. (Revised April 1996.)
- 2024
- Book
The Fading Light of Democratic Capitalism: How Pervasive Cronyism and Restricted Suffrage Are Destroying Democratic Capitalism as a National Ideal ... And What to Do About It
What are we to do about declining public trust and confidence in democratic capitalism, which many citizens consider a cornerstone of our national ideology and identity? In this book, I address how we can rekindle the fading light of democratic capitalism as an... View Details
Salter, Malcolm S. The Fading Light of Democratic Capitalism: How Pervasive Cronyism and Restricted Suffrage Are Destroying Democratic Capitalism as a National Ideal ... And What to Do About It. Cambridge Elements, Elements in Reinventing Capitalism. Cambridge University Press, 2024.
- December 2015
- Article
Introduction: New Perspectives on Corporate Capital Structure
By: Viral Acharya, Heitor Almeida and Malcolm Baker
The National Bureau of Economic Research held a symposium titled "New Perspectives on Corporate Capital Structures" on April 5–6, 2013 in Cambridge, Massachusetts. In its call for the submission of theoretical and empirical papers for the symposium, the NBER noted that... View Details
Acharya, Viral, Heitor Almeida, and Malcolm Baker. "Introduction: New Perspectives on Corporate Capital Structure." Journal of Financial Economics 118, no. 3 (December 2015): 551–552.
- 19 Jan 2016
- First Look
January 19, 2016
emphasize users over producers. Large parts of the knowledge economy now routinely rely on users, communities, and open innovation approaches to solve important technological and organizational problems. This view of innovation, pioneered View Details
Keywords: Sean Silverthorne
- 18 Sep 2018
- First Look
New Research and Ideas, September 18, 2018
Monetary Fund (IMF). The case highlights the challenges and opportunities she faced during each phase of her career and how she managed them. Lagarde started her career in 1981 as a lawyer at the global law firm Baker & McKenzie,... View Details
Keywords: Dina Gerdeman
- 2012
- Working Paper
How Short-Termism Invites Corruption—And What to Do About It
Researchers and business leaders have long decried short-termism: the excessive focus of executives of publicly traded companies-along with fund managers and other investors-on short-term results. The central concern is that short-termism discourages long-term... View Details
Keywords: Business and Shareholder Relations; Public Ownership; Performance Expectations; Economy; Crime and Corruption; Ethics; Trust; Financial Services Industry; United States
Salter, Malcolm S. "How Short-Termism Invites Corruption—And What to Do About It." Harvard Business School Working Paper, No. 12-094, April 2012.
- July 1993 (Revised September 1995)
- Case
Block 16: Conoco's "Green" Oil Strategy (A)
By: Malcolm S. Salter and Susan E.A. Hall
Conoco's attempted to win an oil development contract in Ecuador's tropical rain forest. The case discusses government perspectives, environmental perspectives, and indigenous people's perspectives. Allows role playing in a "negotiating forum" set up by Conoco to get... View Details
Keywords: Governance; Contracts; Growth and Development Strategy; Negotiation; Practice; Business and Community Relations; Environmental Sustainability; Perspective; Culture; Corporate Strategy; Latin America
Salter, Malcolm S., and Susan E.A. Hall. Block 16: Conoco's "Green" Oil Strategy (A). Harvard Business School Case 394-001, July 1993. (Revised September 1995.)
- August 2006
- Article
Predicting Returns with Managerial Decision Variables: Is There a Small-Sample Bias?
By: Malcolm Baker, Ryan Taliaferro and Jeffrey Wurgler
Many studies find that aggregate managerial decision variables, such as aggregate equity issuance, predict stock or bond market returns. Recent research argues that these findings may be driven by an aggregate time-series version of Schultz's (2003, Journal of Finance... View Details
Keywords: Prejudice and Bias; Fairness; Managerial Roles; Management Analysis, Tools, and Techniques; Equity; Bonds; Financial Markets; Investment; Capital Markets; Borrowing and Debt; Investment Return
Baker, Malcolm, Ryan Taliaferro, and Jeffrey Wurgler. "Predicting Returns with Managerial Decision Variables: Is There a Small-Sample Bias?" Journal of Finance 61, no. 4 (August 2006): 1711–1730. (Section V of "Pseudo Market Timing and Predictive Regressions, NBER Working Paper Series, No. 10823, contains additional analyses.)
- 2015
- Working Paper
Financial Patent Quality: Finance Patents After State Street
By: Josh Lerner, Andrew Speen, Mark Baker and Ann Leamon
In the past two decades, patents of inventions related to financial services ("finance patents"), as well as litigation around these patents, have surged. One of the repeated concerns voiced by academics and practitioners alike has been about the quality of these... View Details
Lerner, Josh, Andrew Speen, Mark Baker, and Ann Leamon. "Financial Patent Quality: Finance Patents After State Street." Harvard Business School Working Paper, No. 16-068, December 2015.
- October 2012 (Revised February 2013)
- Case
Jim Johnson's Re-election to the Goldman Sachs Board
By: Suraj Srinivasan and Kelly Baker
The case presents the opposition by a leading institutional investor in Goldman Sachs to the re-election of Jim Johnson to the board of directors of the company. The investor, Sequoia Fund, opposes the re-election citing Jim Johnson's prior track record as the CEO of... View Details
Keywords: Board Of Directors; Corporate Governance; Director Elections; Goldman Sachs; Reputation; Institutional Investing; Governing and Advisory Boards; Corporate Accountability; Banking Industry; New York (city, NY)
Srinivasan, Suraj, and Kelly Baker. "Jim Johnson's Re-election to the Goldman Sachs Board." Harvard Business School Case 113-050, October 2012. (Revised February 2013.)
- 17 Nov 2015
- First Look
November 17, 2015
forthcoming Journal of Financial Economics Introduction: New Perspectives on Corporate Capital Structure By: Acharya, Viral, Heitor Almeida, and Malcolm Baker Abstract—The National Bureau of Economic... View Details
Keywords: Sean Silverthorne
- 25 Oct 2011
- First Look
First Look: October 25
Course MaterialsMatrix Capital Management (A) Malcolm P. Baker and David LaneHarvard Business School Case 211-017 Ben Balbale, a partner at hedge fund Matrix Capital, must decide whether to exit their... View Details
Keywords: Sean Silverthorne
- 2019
- Working Paper
Rehabilitating Corporate Purpose
In this paper, I address how the ascendance of the theory of shareholder value maximization into the central consciousness of public corporations and its canonization as the only legitimate expression of corporate purpose has contributed to both a widening breach... View Details
Keywords: Capitalism; Justice; Corporate Purpose; Shareholder Value Maximization; Ethical Reciprocity; Economic Systems; Business Ventures; Mission and Purpose; Ethics; Corporate Social Responsibility and Impact
Salter, Malcolm S. "Rehabilitating Corporate Purpose." Harvard Business School Working Paper, No. 19-104, April 2019.
- 12 Oct 2011
- First Look
First Look: October 12
income between two organizations in similar businesses. It can be measured by the "Four Rs" of referrals and retention of employees, returns to labor, and relationships with customers that foster customer referrals and... View Details
Keywords: Sean Silverthorne
- May 2012
- Article
Global, Local, and Contagious Investor Sentiment
By: Malcolm Baker, Jeffrey Wurgler and Yu Yuan
We construct investor sentiment indices for six major stock markets and decompose them into one global and six local indices. In a validation test, we find that relative sentiment is correlated with the relative prices of dual-listed companies. Global sentiment is a... View Details
Keywords: Business and Shareholder Relations; Globalization; Stocks; Markets; Capital; Financial Services Industry
Baker, Malcolm, Jeffrey Wurgler, and Yu Yuan. "Global, Local, and Contagious Investor Sentiment." Journal of Financial Economics 104, no. 2 (May 2012): 272–287.
- August 2020
- Article
Leverage and the Beta Anomaly
By: Malcolm Baker, Mathias F. Hoeyer and Jeffrey Wurgler
The well-known weak empirical relationship between beta risk and the cost of equity—the beta anomaly—generates a simple tradeoff theory: As firms lever up, the overall cost of capital falls as leverage increases equity beta, but as debt becomes riskier the marginal... View Details
Baker, Malcolm, Mathias F. Hoeyer, and Jeffrey Wurgler. "Leverage and the Beta Anomaly." Journal of Financial and Quantitative Analysis 55, no. 5 (August 2020): 1491–1514.
- January 2009
- Article
Multinationals as Arbitrageurs? The Effect of Stock Market Valuations on Foreign Direct Investment
By: Malcolm Baker, C. Fritz Foley and Jeffrey Wurgler
Empirical evidence of imperfect integration across world capital markets suggests a role for cross-border arbitrage by multinationals. Consistent with multinational arbitrage as a determinant of foreign direct investment (FDI) patterns, we find that FDI flows increase... View Details
Keywords: Multinational Firms and Management; Financial Markets; Foreign Direct Investment; Valuation; Capital Markets; Cross-Cultural and Cross-Border Issues; Cost; Forecasting and Prediction; Capital; Stocks; Integration
Baker, Malcolm, C. Fritz Foley, and Jeffrey Wurgler. "Multinationals as Arbitrageurs? The Effect of Stock Market Valuations on Foreign Direct Investment." Review of Financial Studies 22, no. 1 (January 2009): 337–369.
- 2017
- Working Paper
Optimal Tilts: Combining Persistent Characteristic Portfolios
By: Malcolm Baker, Ryan Taliaferro and Terry Burnham
We examine the optimal weighting of four tilts in US equity markets from 1968 through 2014. We define a “tilt” as a characteristic-based portfolio strategy that requires relatively low annual turnover. This is a continuum, with small size, a very persistent... View Details
Baker, Malcolm, Ryan Taliaferro, and Terry Burnham. "Optimal Tilts: Combining Persistent Characteristic Portfolios." Working Paper, March 2017.
- 25 Apr 2017
- First Look
First Look at New Research, April 25
2017 CA: BVT Publishing Global Marketing Management: A Casebook By: Quelch, John A. Abstract—During the last quarter century, international business was shaken by a revolution in global competition unlike any previously experienced. As... View Details
Keywords: Sean Silverthorne
- 2005
- Working Paper
Pseudo Market Timing and Predictive Regressions
By: Malcolm Baker, Ryan Taliaferro and Jeffrey Wurgler
A number of studies claim that aggregate managerial decision variables, such as aggregate equity issuance, have power to predict stock or bond market returns. Recent research argues that these results may be driven by an aggregate time-series version of Schultz's... View Details
Keywords: Managerial Roles; Equity; Market Timing; Financial Instruments; Investment Return; Mathematical Methods
Baker, Malcolm, Ryan Taliaferro, and Jeffrey Wurgler. "Pseudo Market Timing and Predictive Regressions." NBER Working Paper Series, No. 10823, January 2005. (First Draft in 2004.)