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- October 16, 2024
- Article
Physicians Can Help Cut Costs. They Just Need the Right Incentives.
By: Susanna Gallani and Derek A. Haas
Health care organizations have long tried to enlist physicians in their effort to control or reduce costs. One effective means for doing so is to create an incentive system that rewards physicians for their contributions. To design such a system, organizations should... View Details
- March 2024
- Case
Nomad: A License to Bank
By: Paul A. Gompers and Pedro Levindo
In late 2023, Lucas Vargas, CEO and co-founder of Nomad, a fintech that offered financial services in the United States for Brazilian residents, had to decide what to do to ensure the company’s continued expansion. Nomad launched its first product, a U.S. digital bank... View Details
Keywords: Mergers and Acquisitions; Business Startups; Customer Satisfaction; Decision Making; Entrepreneurship; Banks and Banking; Initial Public Offering; Global Strategy; Growth and Development Strategy; Brands and Branding; Marketing Strategy; Product Launch; Organizational Culture; Going Public; Ownership Stake; Innovation and Invention; Strategic Planning; Business and Government Relations; Business and Stakeholder Relations; Risk and Uncertainty; Business Strategy; Competitive Advantage; Corporate Strategy; Diversification; Expansion; Vertical Integration; Leadership; Law; Banking Industry; Technology Industry; Service Industry; Brazil; United States; North America; Latin America
- March 2024
- Supplement
ELCA's Series A Cap Table Exercise (Instructor Version)
By: Raymond Kluender and Anke Becker
In ELCA, the company must decide between two term sheets: one put forth by STV and one put forth by ESV.
This exercise is an analysis of the implications of these two term sheets on the ownership structure and the payouts of common and preferred... View Details
This exercise is an analysis of the implications of these two term sheets on the ownership structure and the payouts of common and preferred... View Details
- March 2024
- Supplement
ELCA's Series A Cap Table Exercise (Student Version)
By: Raymond Kluender, Anke Becker and Johnson Elugbadebo
In ELCA, the company must decide between two term sheets: one put forth by STV and one put forth by ESV.
This exercise is an analysis of the implications of these two term sheets on the ownership structure and the payouts of common and preferred... View Details
This exercise is an analysis of the implications of these two term sheets on the ownership structure and the payouts of common and preferred... View Details
- 2023
- Book
Build the Life You Want: The Art and Science of Getting Happier
By: Arthur C. Brooks and Oprah Winfrey
In Build the Life You Want, Arthur C. Brooks and Oprah Winfrey invite you to begin a journey toward greater happiness no matter how challenging your circumstances. Drawing on cutting-edge science and their years of helping people translate ideas into action,... View Details
- August 2023 (Revised February 2024)
- Case
DexAI
By: Jo Tango and Christina Wallace
During a challenging fundraising environment, the DexAI founders received two term sheets with nearly identical economic terms but very different legal ones. The entrepreneurs had to navigate: representations and warranties (their personal guarantees that the company's... View Details
- 2023
- Article
Towards Bridging the Gaps between the Right to Explanation and the Right to Be Forgotten
By: Himabindu Lakkaraju, Satyapriya Krishna and Jiaqi Ma
The Right to Explanation and the Right to be Forgotten are two important principles outlined to regulate algorithmic decision making and data usage in real-world applications. While the right to explanation allows individuals to request an actionable explanation for an... View Details
- December 2022
- Case
Taylor Farms: Adding Value to Fresh Produce
By: José B. Alvarez, Forest L. Reinhardt, Jenyfeer Martinez Buitrago and Pedro Levindo
In October 2022, Bruce Taylor (HBS MBA, 1981), Chairman and CEO of Taylor Farms, the leading producer of salads and healthy fresh foods in the United States, wondered whether this was the right time for Taylor Farms to venture into the Controlled Environment... View Details
- December 2022 (Revised February 2023)
- Case
Daniel Defense: Responding to the Shooting at the Robb Elementary School in Uvalde, TX
By: Benjamin C. Esty and Daniel Fisher
At 11:33am on May 24, 2022, an 18-year-old man from Uvalde, Texas walked into the Robb Elementary School carrying a semi-automatic "AR-15-style” rifle manufactured by Daniel Defense and killed 19 children and two adults. Three days later, Representative Carolyn Maloney... View Details
Keywords: Gun Violence; Gun Policy; Second Amendment; Legal Liability; Government Legislation; Marketing Strategy; Business or Company Management; Product Marketing; Ethics; Corporate Accountability; Corporate Social Responsibility and Impact; Moral Sensibility; Crime and Corruption; Governing Rules, Regulations, and Reforms; Manufacturing Industry; Advertising Industry; United States
- 2022
- Article
Pills in a World of Activism and ESG
By: Guhan Subramanian and Caley Petrucci
Easterbrook and Fischel’s The Economic Structure of Corporate Law advances their now famous passivity thesis, which posits that managers should remain passive in the face of an unsolicited tender offer for the company’s shares. Consistent with the broader... View Details
- September 2022 (Revised May 2024)
- Case
Navya: Steering toward a Driverless Future
By: Julian De Freitas, Elie Ofek, Shaun Ingledew and Tonia Labruyere
In 2022, Sophie Desormière arrived at French roboshuttle producer Navya, tasked with charting a new course in a challenging sector. The company, which had recently listed on the Paris Stock Exchange, was burning through cash reserves and needed to transform the promise... View Details
- September 2022 (Revised November 2022)
- Case
The Uyghur Forced Labor Prevention Act: Forced Labor and Genocide in U.S.-China Relations
By: Jeremy Friedman and David Lane
On June 21, 2022, the Uyghur Forced Labor Prevention Act (UFLPA) went into effect, requiring companies to prove that goods imported from the People’s Republic of China were not made with forced labor. The bill was a reaction to reports of products being made with... View Details
Keywords: Ethics; Multinational Firms and Management; Globalized Markets and Industries; Governing Rules, Regulations, and Reforms; Policy; Government Legislation; International Relations; Labor; Wages; Law Enforcement; Law; Rights; Operations; Supply Chain Management; Business and Government Relations; Agriculture and Agribusiness Industry; Manufacturing Industry; Mining Industry; China; United States
- August 2022
- Case
Rocket Learning: Evidence in Action
By: Brian Trelstad, Tomas Rosales and Malini Sen
Founders of Rocket Learning, an India-based nonprofit which focused on early childhood education (ECE), received an invitation from MIT’s Abdul Latif Jameel Poverty Action Lab (JPAL), a development research organization, to test its intervention for ECE with a... View Details
- Article
Do the Right Firms Survive Bankruptcy?
By: Samuel Antill
In U.S. Chapter 11 bankruptcy cases, firms are either reorganized, acquired, or liquidated. I show that decisions to liquidate often reduce creditor recovery, costing creditors billions of dollars every year. I exploit the within-district random assignment of... View Details
- 2022
- Working Paper
High-Yield Debt Covenants and Their Real Effects
By: Falk Bräuning, Victoria Ivashina and Ali Ozdagli
High-yield debt including leveraged loans is characterized by incurrence financial covenants, or “cov-lite” provisions. A traditional loan agreement includes maintenance covenants, which require continuous compliance with the covenant threshold, and their violation... View Details
- October 2021 (Revised November 2022)
- Case
The 2012 Spanish Labor Reform: Lifting All Boats, or Leveling Down?
By: Vincent Pons, Rafael Di Tella, Santiago Botella and Elena Corsi
Since 1978, Spain had struggled to control unemployment. The country’s labor law was protective of employees hired long-term and companies used temporary contracts as buffers. In 2012, amid economic recession and a 23.6% unemployment rate, a center-right government of... View Details
Keywords: COVID-19 Pandemic; Labor Market; Unemployment; Recession; Globalized Markets and Industries; Government Legislation; International Relations; Working Conditions; Employment; Labor Unions; Contracts; Social Issues; Public Opinion; Governing Rules, Regulations, and Reforms; Spain; European Union
- June 2021
- Case
Building the Governance to Take Capital SAFI to the Next Level
By: V.G. Narayanan, Asis Martinez Jerez and Mariana Cal
Asset management firm Capital SAFI wanted to attract new strategic investors and expand to other countries. Having the right corporate governance in place was critical to achieve this goal. View Details
Keywords: Board Of Directors; Transparency; Sustainable Finance; South America; Latin America; Corporate Governance; Governance Controls; Governing and Advisory Boards; Business Organization; Corporate Strategy; Transformation; Investment Funds; Financial Services Industry; Bolivia; South America; Latin America
- June 2021 (Revised November 2021)
- Case
Asian Corporate Governance Association: Stemming a 'Race to the Bottom' by Stock Exchanges?
By: Charles C.Y. Wang and Billy Chan
This case describes the movement towards dual-class listings on Asian stock exchanges and the efforts of the Asian Corporate Governance Association (ACGA), a not-for-profit shareholder advocacy group, to discourage this trend. As a not-for-profit organization with no... View Details
- Article
The CMS New Rule on Ambulatory Surgical Centers Earns Only Partial Credit
By: Junaid Nabi and Robert S. Kaplan
The Centers of Medicare and Medicaid Services (CMS) recently announced that it will be removing more... View Details
- 2021
- Article
Fundraising for Stigmatized Groups: A Text Message Donation Experiment
By: Katerina Linos, Laura Jakli and Melissa Carlson
As government welfare programming contracts and NGOs increasingly assume core aid functions, they must address a long-standing challenge—that people in need often belong to stigmatized groups. To study other-regarding behavior, we fielded an experiment through a... View Details