Publications

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2017
Chapter

Innovation Policies

By: Ramana Nanda and Matthew Rhodes-Kropf

Past work has shown that failure tolerance by principals has the potential to stimulate innovation, but has not examined how this affects which projects principals will start. We demonstrate that failure tolerance has an equilibrium price – in terms of an investor’s... View Details

Keywords: Innovation; Investing; Abandonment Option; Failure Tolerance; Innovation and Invention; Venture Capital; Attitudes; Investment; Failure

2017
Working Paper

Innovation Policies

By: Ramana Nanda and Matthew Rhodes-Kropf

Past work has shown that failure tolerance by principals has the potential to stimulate innovation, but has not examined how this affects which projects principals will start. We demonstrate that failure tolerance has an equilibrium price ― in terms of an investor's... View Details

Keywords: Innovation; Investing; Abandonment Option; Failure Tolerance; Venture Capital; Attitudes; Investment; Failure; Innovation and Invention

SSRN

25 Apr 2014
News

Investing in Innovation

Project. "In order to innovate in our educational programs to develop the next generation of leaders," Hess said, "the school requires flexible funding to invest in innovation. That's an important part of... View Details

Keywords: HBS Fund; Educational Services

07 Nov 2011
Working Paper Summaries

Investment Cycles and Startup Innovation

Keywords: by Ramana Nanda & Matthew Rhodes-Kropf

September 2024
Case

Myeloma Investment Fund

By: Kyle Myers and Scott Sawaya

This case explores a critical decision facing the Myeloma Investment Fund (MIF) as it evaluates two investment opportunities aimed at accelerating a cure for multiple myeloma. The MIF, a venture philanthropy fund, must choose between two distinct paths. One option... View Details

Keywords: Venture Philanthropy; Biomedical Research; Science Bassed Business; Investing For Impact; Innovation ＆ Entrepreneurship; Venture Capital; Science-Based Business; Biotechnology Industry; Pharmaceutical Industry

01 Jun 2009
Lessons from the Classroom

The Challenges of Investing in Science-Based Innovation

profoundly." Scientific innovation is moving into companies such as BofA that you wouldn't expect, she adds. "We think of automakers focusing primarily on design, but the growing emphasis on alternative fuels is causing some of... View Details

Keywords: by Julia Hanna; Banking; Auto; Pharmaceutical

13 Jun 2014
News

No Innovation Is Immedately Profitable

Keywords: innovation; investment; strategy

March 2013
Article

Misvaluing Innovation

By: Lauren Cohen, Karl Diether and Christopher Malloy

We demonstrate that a firm's ability to innovate is predictable, persistent, and relatively simple to compute, and yet the stock market ignores the implications of past successes when valuing future innovation. We show that two firms that invest the exact same in... View Details

Keywords: Innovation; Return Predictability; R＆D; Information; Forecasting and Prediction; Research and Development; Innovation and Invention

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12 Jan 2015
News

Good Investments

research on impact investing The Acumen Fund’s Sasha Dichter (MBA/MPA 2002) on how to grow impact investing Moving the Needle (Fran Seegul, MBA 1998) Making A Difference: Àlvaro Rodríguez-Arregui (MBA 1995)... View Details

Keywords: Dan Morrell; impact investing; ideas; Securities, Commodities, and Other Financial Investments; Securities, Commodities, and Other Financial Investments

06 Feb 2019
News

How Investment Made Singapore an Innovation Hub

2016
Working Paper

Does Firm Innovation Affect Corporate Social Responsibility?

By: Rui Shen, Yi Tang and Ying Zhang

This study examines the relationship between firm innovation and CSR. Stakeholders’ concern over transaction-specific investments exacerbates when firms engage heavily in innovation activities. To secure stakeholders’ support, firms adopt CSR effectively as an ex ante... View Details

Keywords: Corporate Social Responsibility; Firm Innovation; Transaction-specific Investments; Firm Risk; Environmental Munificence; Corporate Social Responsibility and Impact; Business and Stakeholder Relations; Innovation and Invention

August 2018
Article

Growth Through Heterogeneous Innovations

By: Ufuk Akcigit and William R. Kerr

We build a tractable growth model where multi-product incumbents invest in internal innovations to improve their existing products, while new entrants and incumbents invest in external innovations to acquire new product lines. External and internal innovations generate... View Details

Keywords: Endogenous Growth; Innovation; Citations; Scientists; Entrepreneurs; External; Internal; Patents; Innovation Strategy; Entrepreneurship; Economic Growth; Research and Development; Science

Find at Harvard

November 2010 (Revised May 2012)
Case

Innovating into Active ETFs: Factor Funds Capital Management LLC

By: Kenneth A. Froot, Lauren Cohen and Scott Waggoner

Kishore Karunakaran, President and COO of FFCM, faces a variety of challenges in launching an innovative investment management business in the rapidly evolving ETF space. View Details

Keywords: Investment Management; Institutional Investments; Entrepreneurial Finance; Financial Management; Innovation Strategy; Corporate Entrepreneurship; Capital Markets; Investment Funds; Financial Strategy; Management Teams; Financial Services Industry; Boston

January 2017 (Revised November 2018)
Case

Vox Capital: Pioneering Impact Investing in Brazil

By: Julie Battilana, Marissa Kimsey, Falko Paetzold and Priscilla Zogbi

Vox Capital was the first certified impact investing fund in Brazil. Founded in 2009, it provides early-stage capital for companies offering innovative and scalable solutions to enhance the lives of low-income Brazilians, while aiming to simultaneously generate... View Details

Keywords: Impact Investing; Social Performance Measurement; Social Entrepreneurship; Investment Funds; Social Enterprise; Brazil

June 2023
Case

Investing in the Climate Transition at Neuberger Berman

By: George Serafeim and Benjamin Maletta

By mid-2023, Neuberger Berman (NB), an active asset manager, had grown its assets under management to about half a trillion dollars and took pride in its client centricity and innovative spirit. Responding to client demand for investment products that integrated... View Details

May 2021
Case

Inclusive Innovation at Mass General Brigham

By: Katherine Baldiga Coffman and Olivia Hull

Massachusetts General Brigham (MGB) Chief Innovation Officer Christopher Coburn had overseen a period of exciting transformation and growth in healthcare innovation at MGB. In November 2019, the health system was the largest recipient of National Institutes of Health... View Details

September 2018 (Revised May 2021)
Teaching Plan

Eastern Bank: Innovating Through Eastern Labs

By: Karen Mills, Dennis Campbell and Aaron Mukerjee

Eastern Bank is a 200-year-old New England mutual bank with a community focus. Eastern specializes in small business lending, having made strategic investments to become the top SBA lender in New England in the midst of the Great Recession, when other banks were... View Details

Keywords: Banks; Fintech; Innovation; Innovation ＆ Entrepreneurship; Innovation And Strategy; Technological Change; Technology And Innovation Management; Entrepreneurial Management; Intrapreneurship; Banks and Banking; Innovation and Invention; Entrepreneurship; Innovation Strategy; Technological Innovation; Information Technology; Management

October 2024
Course Overview Note

Risks, Opportunities, and Investments in the Era of Climate Change (ROICC)

By: George Serafeim

This course overview note introduces the course Risks, Opportunities, and Investments in the Era of Climate Change to students. View Details

Keywords: Climate Change; Sustainability; Environment; Innovation; Technology; Management; General Management; Organizational Transformations; Investments; Entrepreneurship; Strategy; Finance; Accounting; Leadership

October 2019 (Revised October 2019)
Background Note

Entrepreneurship and Innovation Trends in China K-12

By: John J-H Kim, Haibo Zhao and Shu Lin

This note provides a brief survey of the major entrepreneurial and innovation trends in China’s K-12 education landscape, using trends in public policy as background, but focusing on opportunities available for the private market. The note first provides a brief... View Details

Keywords: Innovation; Innovation ＆ Entrepreneurship; Education; Entrepreneurship; Innovation and Invention; Education Industry; China