Publications

November 2023 (Revised May 2024)
Case

Kickstarter: Crowdfunding for the Arts

By: Rohit Deshpandé and Alexis Lefort

Kickstarter was a virtual crowdfunding platform and community that allowed creators of all kinds to raise funding for creative projects. The executive team was wrestling with a tension in its business model: the organization earned the majority of its revenue from... View Details

Keywords: Fundraising; Mission; Crowdfunding; Corporate Social Responsibility and Impact; Mission and Purpose; Philanthropy and Charitable Giving; Arts; Web Services Industry; United States

May 2000 (Revised April 2003)
Case

Contractual Innovation in the UK Energy Markets: Enron Europe, The Eastern Group, and the Sutton Bridge Project

By: Benjamin C. Esty and Peter Tufano

In December 1996, Enron Europe and The Eastern Group were on the verge of signing an innovative transaction in the utility industry. Eastern was going to buy a long-term option to convert natural gas into electricity from Enron, thereby giving it the economic right to... View Details

Keywords: Project Finance; Infrastructure; Supply and Industry; Corporate Finance; Utilities Industry; Energy Industry

17 Oct 2024
Research & Ideas

The Reputation Risks of Sharing Fake News

As partisan vitriol flies in the final month before the US presidential election, a new study offers insight into the question of why people share political misinformation.... View Details

Keywords: by Avery Forman

October 2019 (Revised August 2020)
Case

The Predictive Index

By: Lynda M. Applegate and James Weber

Mike Zani and Daniel Muzquiz needed to decide next steps to create a new category in the human resources consulting industry and scale their company.
Zani and Muzquiz, serial entrepreneurs, acquired Predictive Index in 2014. Previously, as clients of the... View Details

Keywords: Human Resources; Selection and Staffing; Talent and Talent Management; Recruitment; Corporate Entrepreneurship; Venture Capital; Change Management; Disruptive Innovation; Digital Platforms; Growth and Development Strategy; Consulting Industry; Service Industry; United States

January 4, 2020
Article

The 10 Commitments Companies Must Make to Advance Racial Justice

By: Mark R. Kramer

In the wake of George Floyd’s tragic death in Minneapolis, major corporations have been voicing their support for racial justice in the United States. But we are way past the point when words alone suffice. Actions are needed. Corporations can and should make 10... View Details

Keywords: Racial Justice; Racial Equity; Race; Equality and Inequality; Corporate Social Responsibility and Impact

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November 2006 (Revised December 2012)
Background Note

Strategies Beyond the Market

By: Felix Oberholzer-Gee and Dennis Yao

Strategists are not alone in finding failing markets irresistible. Governments and social groups ranging from unions to the World Wildlife Fund also respond to market failures. Governments typically seek to fix failing markets, often with prescriptions of what... View Details

Keywords: Markets; Failure; Strategy; Situation or Environment; Social Issues; Government and Politics; Corporate Social Responsibility and Impact

June 2014
Article

The Capitalist's Dilemma

By: Clayton M. Christensen and Derek C. M. van Bever

Sixty months after the 2008 recession ended, the economy was still sputtering, producing disappointing growth and job numbers. Corporations seemed stuck: Despite low interest rates, they were sitting on massive piles of cash and failing to invest in new initiatives. In... View Details

Keywords: Capital Investments; Creating Markets; Evaluating Business Investments; Innovation; Emerging Markets; Investment; Economic Growth; Capital; Innovation and Invention

02 Feb 2011
Working Paper Summaries

Lawful but Corrupt: Gaming and the Problem of Institutional Corruption in the Private Sector

Keywords: by Malcolm S. Salter; Financial Services

Web

Managing the Future of Work

chief people, policy, and purpose officer, and Jeetu Patel, president and chief product officer. How better integration within the corporate stack improves flexibility. The... View Details

November 2008 (Revised January 2009)
Case

The Restructuring of Daiei

By: Richard S. Ruback

In 2004, the Industrial Revitalization Corporation of Japan (IRCJ) was given the task of restructuring Daiei, one of the largest Japanese retailers and the country's most prominent zombie companies. The IRCJ was a government-sponsored organization that was funded with... View Details

Keywords: Restructuring; Capital Structure; Private Equity; Performance Effectiveness; Retail Industry; Japan

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January 2013
Article

Payout Taxes and the Allocation of Investment

When corporate payout is taxed, internal equity (retained earnings) is cheaper than external equity (share issues). If there are no perfect substitutes for equity finance, payout taxes may therefore have an effect on the investment of firms. High taxes will favor... View Details

Keywords: Taxation; Investment; Equity; Growth and Development Strategy; Resource Allocation

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When corporate payout is taxed, internal equity (retained earnings) is cheaper than external equity (share issues). If there are no perfect substitutes for equity finance, payout taxes may therefore have an effect on the investment of firms. High taxes... View Details

June 2020
Case

TransDigm: The Acquisition of Aerosonic Corp.

By: Benjamin C. Esty and Daniel W. Fisher

In April 2013, TransDigm, a company that manufactured a wide range of highly engineered aerospace parts for both military and commercial aircraft, announced an agreement to acquire Aerosonic Corporation for $39 million in cash (1.2 times Aerosonic’s sales of $31... View Details

Keywords: Mergers and Acquisitions; Growth Management; Business Strategy; Competitive Strategy; Value Creation; Valuation; Negotiation; Cash Flow; Contracts; Aerospace Industry; Air Transportation Industry; United States

20 Aug 2015
News

How companies can enrich shareholders—and the planet

01 Sep 2017
News

Putting lifelong learning on the CEO agenda

28 Jan 2025
Video

The business leaders leading Europe’s green transition

01 Jun 2004
News

The Sky’s the Limit

Hamilton signed on with Fluke, first as a project manager and most recently as the head of corporate marketing communications. In all those years with Fluke, Hamilton gave very little thought to flying. “I... View Details

Keywords: Seattle Avionics; Transportation; Air Transportation; Transportation

March 2012
Article

Enriching the Ecosystem

By: Rosabeth Moss Kanter

To remain a leader in innovation, the United States needs the support of foundational institutions that help seed, grow, and renew enterprises. Historically, these institutions-such as universities, venture creators, labor markets, and job-training programs-have tended... View Details

Keywords: Innovation and Invention; Organizations; Research and Development; Social and Collaborative Networks; Growth and Development Strategy; United States

January 2015
Article

Are Incentives Without Expertise Sufficient? Evidence from Fortune 500 Firms

By: Emilie R. Feldman and Cynthia A. Montgomery

Agency theory predicts that incentives will align agents' interests with those of principals. However, the resource-based view suggests that to be effective, the incentive to deliver must be paired with the ability to deliver. Using Fortune 500 boards as an... View Details

Keywords: Board Of Directors; Corporate Governance; Incentives; Expertise; Motivation and Incentives; Governing and Advisory Boards; Experience and Expertise; Agency Theory