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  • 2021
  • Working Paper

Governance Transparency and Firm Value: Evidence from Korean Chaebols

By: Akash Chattopadhyay, Sa-Pyung Sean Shin and Charles C.Y. Wang
We examine Korean business groups' transition from circular-shareholding structures to (relatively simple) pyramidal-shareholding structures between 2011 and 2018. When firms were removed from ownership loops, chaebol families' control or incentive conflicts in them... View Details
Keywords: Business Groups; Cross Shareholding; Circular Shareholding; Pyramidal Ownership; Governance Transparency; Ownership Transparency; Earnings Response Coefficient; Business Conglomerates; Corporate Governance; Valuation; Business Earnings
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  • 25 May 2010
  • First Look

First Look: May 25

controlling shareholder to list equity. Higher valuations support listings associated with greater agency costs. We test the predictions that follow from this idea on a sample of publicly listed corporate subsidiaries in Japan. When there... View Details
Keywords: Martha Lagace
  • Web

Business & Environment - Faculty & Research

them. Business leaders will find the book a source of both powerful examples and immediately actionable ideas, while scholars will be deeply intrigued by the insights that emerge from the cross cutting exploration of one of the toughest... View Details
  • 07 Jul 2019
  • HBS Case

Walmart's Workforce of the Future

executives made it clear that Walmart was equally committed to the complex, costly effort required to train its human workers. “I want to be clear that we don’t believe technology is the answer to everything,” McMillon stated in a 2017 annual View Details
Keywords: by Julia Hanna; Retail
  • 14 Jan 2019
  • Op-Ed

These 4 CEOs Created a New Standard of Leadership

contribute to society in meaningful ways, not just profit from it. They believed that organization had to benefit all stakeholders: their customers, employees, shareholders, and communities and that this approach would result in sustained increases in revenues,... View Details
Keywords: by Bill George; Health; Banking; Food & Beverage; Consumer Products
  • 22 Nov 2023
  • News

So You Want to Join a Startup

Subscribe on iTunes Subscribe on Spotify More Skydeck episodes Dan Morrell: At age 29, Gus Bessalel (MBA 1988) decided to leave consulting for a decidedly less glamorous life as an entrepreneur, working out of a storage room in the bowels of an underground hotel... View Details
  • Web

Curriculum - Business & Environment

Acquisitions, Value Creation Under Polman's leadership, Unilever focused on long-term shareholder value accretion with a multi-stakeholder approach that emphasized global growth in revenues and earnings through deep penetration in rapidly... View Details
  • 17 Jan 2012
  • First Look

First Look: January 17

stocks: stocks of large, mature, low-volatility, profitable, dividend-paying firms that are neither high growth nor distressed. Variables derived from the yield curve that are already known to predict returns on bonds also predict returns on bond-like stocks; investor... View Details
Keywords: Sean Silverthorne
  • Web

Advisory Board - Entrepreneurship

Western Pennsylvania - Heinz History Center. He is a member of the Boards of Highmark Blue Cross Blue Shield, The Pittsburgh Cultural Trust, The Urban League of Pittsburgh, Sewickley Academy, and the Extra Mile Education Foundation. He... View Details
  • 11 Aug 2008
  • Research & Ideas

Strategy Execution and the Balanced Scorecard

management processes, such as those to develop the strategy, translate the strategy, and orchestrate the senior management strategy review meetings. Many of these processes are new to the organization. Since they cross existing business... View Details
Keywords: by Martha Lagace
  • 02 Oct 2006
  • Research & Ideas

Negotiating in Three Dimensions

customer relationships, dealing with large shareholders and creditors, as well as initiating and managing cross-border strategic alliances. It is true inside the firm where people from different functional areas and divisions need to... View Details
Keywords: by Martha Lagace
  • 12 Nov 2021
  • News

Alumni Business Leaders on Confronting the Climate Change Challenge

That is why we introduced pep+ (PepsiCo Positive), our strategic end-to-end transformation, with sustainability at the center of how we will create value for our shareholders and all our stakeholders. Climate action across our supply... View Details
  • Person Page

Read excerpts from DENIAL

By: Richard S. Tedlow

The Edifice Complex: Denial at Sears

Book Excerpt: Denial at Sears (BusinessWeek.com, February 26, 2010)

 

From Denial: Why Business... View Details

  • 03 Jul 2018
  • What Do You Think?

Should CEO Satya Nadella Cancel Microsoft’s Contract with ICE?

moral leadership, it needs to carefully examine and discuss issues that cross the line from legal to immoral. Microsoft needs to show its employees that it takes the issue of separation ( of families by ICE) seriously. How it does that... View Details
Keywords: by James Heskett; Computer; Technology
  • 01 Jun 1998
  • News

Long-Term Interest: Bill Crozier, a Banker Pegged to the Customer

BankBoston in January, is impressed not only by the size of the deal but perhaps even more by what it represents: the crossing of industry lines. "With this merger, universal banking - long the style of major banks in many other countries... View Details
Keywords: Eileen K. McCluskey
  • 18 Jul 2005
  • Research & Ideas

Time to Rethink the Corporate Tax System?

could be welcome. Moreover, if shareholders are the recipients of all this value, then this would just be a transfer from tax authorities to shareholders. Unfortunately, the evidence is more mixed on the degree to which View Details
Keywords: by Ann Cullen
  • 03 May 2016
  • First Look

First Look, May 3, 2016

Past By: Kouchaki, M., and F. Gino Abstract—Despite our optimistic belief that we would behave honestly when facing the temptation to act unethically, we often cross ethical boundaries. This paper explores one possibility for why people... View Details
Keywords: Sean Silverthorne
  • 05 May 2003
  • Research & Ideas

Sharing the Responsibility of Corporate Governance

tripwire that is often triggered before a person crosses the line and violates the law. A manager who becomes accustomed to disregarding his or her inner voice in the name of shareholders is more likely to... View Details
Keywords: by Carla Tishler
  • 28 Aug 2012
  • First Look

First Look: August 28

delayed for 20 days a shareholder vote on the sale of Del Monte Foods Co. (Del Monte) to a consortium of three private equity firms. In his opinion, Laster was critical of Del Monte's board, noting that the directors may not have properly... View Details
Keywords: Sean Silverthorne
  • 07 Jul 2009
  • First Look

First Look: July 7

upcoming 2009 annual meeting. The Shell remuneration committee wonders how the shareholders will react. Purchase this case: http://hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=409126 Executive Remuneration at Royal Dutch Shell (B)... View Details
Keywords: Martha Lagace