Professor Palepu's current research focuses on strategy and governance. In the area of strategy, his recent focus has been on the globalization of emerging markets, particularly India and China, and the resulting opportunities and challenges for western multinationals as well as local companies with global aspirations in these countries. In the area of corporate governance, Professor Palepu's work focuses on making corporate boards more effective, and improving corporate disclosure. Professor Palepu has published numerous articles and case studies on these issues.
Prior to embarking on his current research on emerging markets, Professor Palepu worked on a variety of issues in corporate finance and disclosure. Based on this work, he coauthored the book, Business Analysis and Valuation: Text and Cases, which won the American Accounting Association's Wildman Award for its impact on management practice, as well as the Notable Contribution to the Accounting Literature Award for its impact on academic research. This book, translated into Chinese, Japanese, and Spanish, is widely used in leading MBA programs all over the world. It is accompanied by a business analysis and valuation software model published by the Harvard Business School Publishing Company.