Publications

September 2018
Article

Expressive Voting and Its Cost: Evidence from Runoffs with Two or Three Candidates

By: Vincent Pons and Clémence Tricaud

In French parliamentary and local elections, candidates ranked first and second in the first round automatically qualify for the second round, while a third candidate qualifies only when selected by more than 12.5 percent of registered citizens. Using a fuzzy RDD... View Details

Keywords: Expressive Voting; Strategic Voting; Regression Discontinuity Design; French Elections; Voting; Political Elections; France

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2019
Report

Expressive Voting and Its Costs

By: Vincent Pons, Clémence Tricaud and Vestal McIntyre

14 Jun 2017
Working Paper Summaries

Expressive Voting and Its Cost: Evidence from Runoffs with Two or Three Candidates

Keywords: by Vincent Pons and Clémence Tricaud

Expressive Voting and Its Cost: Evidence from Runoffs with Two or Three Candidates

In French parliamentary and local elections, candidates ranked first and second in the first round automatically qualify for the second round, while a third candidate qualifies only when selected by more than 12.5% of registered citizens. Using a fuzzy RDD around... View Details

27 Oct 2020
News

HBS Votes

Blau (MBA 2001), Baupost CEO Seth Klarman (MBA 1982), Standard Hotels CEO Amar Lalvani (MBA 2001), General Assembly CEO Lisa Lewin (MBA 2003), and Jeffrey C. Walker (MBA 1981), among other HBS graduates) who issued a statement supporting three key principles regarding... View Details

March 2018
Supplement

China Vanke: Battle for Control (B)

By: Lynn S. Paine, Charles C.Y. Wang, Dawn H. Lau and Anthony K. Woo

China Resources expresses disagreement over the validity of the results of the board vote as announced by China Vanke. It further raises objections to Vanke's handling of the announcement as well as reiterates its doubts about the strategic rationale of the proposed... View Details

Keywords: China Vanke; China Resources; Hostile Takeover; Board Of Directors; Shareholding Structure; Shareholder Rights; Asset Restructuring; Corporate Governance; Governing and Advisory Boards; Valuation; Business and Shareholder Relations; Real Estate Industry; China

April 2018 (Revised June 2020)
Case

Tesla's CEO Compensation Plan

By: Krishna G. Palepu and Sarah Mehta

Tesla’s board of directors proposed an unusual compensation plan for the company’s CEO Elon Musk. The plan payouts were entirely contingent on achieving very ambitious market value, sales, and EBIT targets over the next ten years. If all the targets were achieved,... View Details

Keywords: CEO Compensation; Compensation Committee; Corporate Governance; Executive Compensation; Governing and Advisory Boards; Business and Shareholder Relations; Auto Industry; United States

Educators

February 2014
Article

Accountability of Independent Directors—Evidence from Firms Subject to Securities Litigation

By: Francois Brochet and Suraj Srinivasan

We examine which independent directors are held accountable when investors sue firms for financial- and disclosure-related fraud. Investors can name independent directors as defendants in lawsuits, and they can vote against their re-election to express displeasure over... View Details

Keywords: Independent Directors; Litigation Risk; Class Action Lawsuits; Director Accountability; Reputation; Boards Of Directors; Corporate Governance; Debt Securities; Corporate Accountability; Lawsuits and Litigation

SSRN

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2013
Working Paper

Accountability of Independent Directors—Evidence from Firms Subject to Securities Litigation

By: Francois Brochet and Suraj Srinivasan

We examine which independent directors are held accountable when investors sue firms for financial and disclosure related fraud. Investors can name independent directors as defendants in lawsuits, and they can vote against their re-election to express displeasure over... View Details

Keywords: Debt Securities; Lawsuits and Litigation; Legal Liability

SSRN

March 2018 (Revised January 2021)
Case

China Vanke: Battle for Control (A)

By: Lynn S. Paine, Charles C.Y. Wang, Dawn H. Lau and Anthony K. Woo

In June 2016, the board of China Vanke, one of China’s largest and best-known private residential real estate developers, must vote on a proposed acquisition that is opposed by its largest shareholders, state-owned China Resources Co. and the lesser-known property... View Details

Keywords: China Vanke; China Resources; Hostile Takeover; Board Of Directors; Shareholding Structure; Shareholder Rights; Asset Restructuring; Corporate Governance; Governing and Advisory Boards; Valuation; Business and Shareholder Relations; Real Estate Industry; China

Educators

July 2012
Case

El Paso's Sale to Kinder Morgan

By: John Coates, Clayton Rose and David Lane

On October 16, 2011, El Paso agreed to sell itself to Kinder Morgan for just over $21 billion. Shareholders filed suit, arguing that the process was tainted by conflict and that a higher price could be obtained. Delaware Chancellor Leo Strine agreed with the plaintiffs... View Details

Keywords: El Paso; Kinder Morgan; Goldman Sachs; Leo Strine; Conflicts Of Interest; Corporate Governance; Relationships; Lawsuits and Litigation; Energy Industry; Banking Industry; United States

Educators

19 Jul 2012
Working Paper Summaries

Charitable Giving When Altruism and Similarity are Linked

Keywords: by Julio J. Rotemberg

2022
Article

Leadership & Overconfidence

By: Don A Moore and Max H. Bazerman

Expressions of confidence can give leaders credibility. In the political realm, they can earn votes and public approval for decisions made in office. Such support is justified when the confidence displayed is truly a sign that a leader (whether a candidate or an... View Details

Keywords: Personal Characteristics; Leadership; Government Legislation; Political Elections

30 Jul 2024
Research & Ideas

Do Social Movements Sway Voters? Not Really, Except for One

People might be more likely than ever to protest in reaction to a social problem or geopolitical crisis. But do such activist events, even large-scale demonstrations, change public opinion? New research shows that protests rarely change views or alter View Details

Keywords: by Sean Silverthorne

14 Aug 2018
First Look

First Look at New Research and Ideas, August 14, 2018

and healthy innovation. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=54851 in press Management Science Procedural Justice and the Risks of Consumer Voting By: Kim, Tami, Leslie John, Todd Rogers, and Michael I. Norton... View Details

Keywords: by Sean Silverthorne

2023
Working Paper

Words Can Hurt: How Political Communication Can Change the Pace of an Epidemic

By: Jessica Gagete-Miranda, Lucas Argentieri Mariani and Paula Rettl

While elite-cue effects on public opinion are well-documented, questions remain as to when and why voters use elite cues to inform their opinions and behaviors. Using experimental and observational data from Brazil during the COVID-19 pandemic, we study how leader... View Details