• October 2019 (Revised February 2021)
• Case

Myanmar: Special Economic Zones

By: Willy Shih and Dawn Lau

This case examines four Special Economic Zones in Myanmar. While the country's development had been hobbled by a complex history of military rule, ethnic conflict, and international sanctions, as it pursued liberalization it sought avenues to developing its economy....  View Details

Keywords: Economic Development; Emerging Economies; Special Economic Zones (SEZs); Development Economics; Developing Countries and Economies; Manufacturing Industry; Energy Industry; Southeast Asia; Myanmar

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Shih, Willy, and Dawn Lau. "Myanmar: Special Economic Zones." Harvard Business School Case 620-027, October 2019. (Revised February 2021.)

• August 2019 (Revised October 2019)
• Case

Amandla Capital: Real Estate in Côte d‘Ivoire

By: John D. Macomber, Pippa Tubman Armerding and Dilyana Botha

This case describes Amandla Capital, a fledgling company in Cote d’Ivoire, facing three opportunities in the real estate and hospitality industries in Africa. It introduces students to several concepts: decision-making and cost-benefit analysis in real estate,...  View Details

Keywords: Small Business; Decision Making; Decision Choices and Conditions; Cost vs Benefits; Finance; Assets; Asset Management; Investment Portfolio; Investment Return; Project Finance; Relationships

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Macomber, John D., Pippa Tubman Armerding, and Dilyana Botha. "Amandla Capital: Real Estate in Côte d‘Ivoire." Harvard Business School Case 220-029, August 2019. (Revised October 2019.)

• July–August 2019
• Article

Where Is Your Company Most Prone to Lapses in Integrity?

By: Eugene F. Soltes

Every sizable organization has integrity gaps—areas where what’s considered appropriate behavior diverges from the norms set by its leaders. Within these pockets, things like offensive language, overly aggressive sales practices, or conflicts of interest may be...  View Details

Keywords: Integrity; Organizational Culture; Ethics

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Soltes, Eugene F. "Where Is Your Company Most Prone to Lapses in Integrity?" Harvard Business Review 97, no. 4 (July–August 2019): 51–54.

• Summer 2019
• Article

The Political Influence of Voters' Interests on SEC Enforcement

By: Jonas Heese

I examine whether political influence as a response to voters’ interest in employment levels is reflected in the enforcement actions of the Securities and Exchange Commission (SEC). I find that large employers are less likely to experience SEC enforcement actions....  View Details

Keywords: SEC Enforcement; Government Preferences; Voters' Interests; Political Influence; Employment; Public Opinion; Government Administration; Governance Compliance; Political Elections

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Heese, Jonas. "The Political Influence of Voters' Interests on SEC Enforcement." Contemporary Accounting Research 36, no. 2 (Summer 2019): 869–903.

• June 2019
• Article

Brokers vs. Retail Investors: Conflicting Interests and Dominated Products

By: Mark Egan

I study how brokers distort household investment decisions. Using a novel convertible bond dataset, I find that consumers often purchase dominated bonds—cheap and expensive versions of otherwise identical bonds coexist in the market. The empirical evidence suggests...  View Details

Keywords: Brokers; Fiduciary Standard; Consumer Finance; Structured Products; Household; Investment; Decisions; Motivation and Incentives; Conflict of Interests

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Egan, Mark. "Brokers vs. Retail Investors: Conflicting Interests and Dominated Products." Journal of Finance 74, no. 3 (June 2019): 1217–1260.

• January 2019 (Revised March 2020)
• Case

Blackstone Alternative Asset Management in 2018

By: Emil Siriwardane, Luis M. Viceira and Shawn O'Brien

In early 2018, Blackstone announced that John McCormick would succeed Tom Hill as President and Chief Executive Officer of Blackstone Alternative Asset Management (BAAM), the largest fund-of-hedge funds in the world by a sizeable margin. As new CEO, McCormick must...  View Details

Keywords: Asset Management; Expansion; Strategy; Decision Choices and Conditions; Financial Services Industry

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Siriwardane, Emil, Luis M. Viceira, and Shawn O'Brien. "Blackstone Alternative Asset Management in 2018." Harvard Business School Case 219-063, January 2019. (Revised March 2020.)

• January 2019
• Article

Pay Now or Pay Later? The Economics within the Private Equity Partnership

By: Victoria Ivashina and Josh Lerner

The economics of partnerships have been of enduring interest to economists, but many issues regarding intergenerational conflicts and their impact on the continuity of these organizations remain unclear. We examine 717 private equity partnerships and show that (a) the...  View Details

Keywords: Partnerships; Leveraged Buyout; Partners and Partnerships; Private Equity; Venture Capital; Leveraged Buyouts

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Ivashina, Victoria, and Josh Lerner. "Pay Now or Pay Later? The Economics within the Private Equity Partnership." Journal of Financial Economics 131, no. 1 (January 2019): 61–87.

• November 2018
• Teaching Note

The Tax Man: Taxes in Private Equity Real Estate

By: Nori Gerardo Lietz and Sayiddah Fatima McCree

Teaching Note for HBS No. 218-077. This teaching note provides the back up analysis for the various alternatives to be considered in choosing the optimal investment structure for the real estate acquisition. It contrasts the interests of the tax exempt investors...  View Details

Keywords: Real Estate; Alternative Investment Structures; Taxation; Private Equity; Property; Acquisition; Conflict of Interests; Governing Rules, Regulations, and Reforms

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Lietz, Nori Gerardo, and Sayiddah Fatima McCree. "The Tax Man: Taxes in Private Equity Real Estate." Harvard Business School Teaching Note 219-017, November 2018.

• November 2018 (Revised February 2019)
• Case

Israel at 70: Is it Possible to (re)Brand a Country?

By: Elie Ofek and Sarah Gulick

In the spring of 2018, Israel was set to celebrate its 70th anniversary. While there was much to rejoice in reaching this milestone, the country’s brand image internationally was far from ideal. Past efforts to impact perceptions of Israel, spearheaded by the Ministry...  View Details

Keywords: Branding; Brand Management Of Places; Nation Branding; Brand Positioning; Public Diplomacy; Marketing Communication; Brands and Branding; Marketing Communications; Perception; Change; Israel

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Ofek, Elie, and Sarah Gulick. "Israel at 70: Is it Possible to (re)Brand a Country?" Harvard Business School Case 519-006, November 2018. (Revised February 2019.)

• 2018
• Other Teaching and Training Material

Finance Reading: Corporate Governance

By: John Coates and Suraj Srinivasan

Core Curriculum Readings in Finance cover the fundamental concepts, theories, and frameworks in finance. This reading presents an overview of corporate governance, focusing on for-profit businesses that are privately owned by dispersed investors—that is, not owned by a...  View Details

Keywords: Finance; Corporate Governance; For-Profit Firms; Private Ownership; Conflict of Interests

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Coates, John, and Suraj Srinivasan. "Finance Reading: Corporate Governance." Core Curriculum Readings Series. Boston: Harvard Business Publishing 5209, 2018.

• May 2018
• Article

Linda Babcock: Go-getter and Do-gooder

By: Max Bazerman, Iris Bohnet, Hannah Riley-Bowles and George Loewenstein

In this tribute to the 2007 recipient of the Jeffrey Z. Rubin Theory‐To‐Practice Award from the International Association for Conflict Management (IACM), we celebrate Linda Babcock's contributions to diverse lines of research, her tireless and effective efforts to put...  View Details

Keywords: Personal Development and Career; Biography; Research; Negotiation; Leadership; Practice

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Bazerman, Max, Iris Bohnet, Hannah Riley-Bowles, and George Loewenstein. "Linda Babcock: Go-getter and Do-gooder." Negotiation and Conflict Management Research 11, no. 2 (May 2018): 130–145.

• February 2018 (Revised December 2019)
• Case

The Tax Man: Taxes in Private Equity Real Estate

By: Nori Gerardo Lietz, Timothy J. Becker, Ricardo Andrade and Sayiddah F. McCree

In January 2018, Caelan Langan, an associate at KSW Partners LLC (“KSW”), was asked by Katherine Scott, the partner for whom he worked, to recommend a proposed structure to acquire a prominent office building in San Francisco for their most recent fund. Caelan was...  View Details

Keywords: Real Estate; Alternative Investment Structures; Property; Acquisition; Private Equity; Investment; Management; Taxation; Policy

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Lietz, Nori Gerardo, Timothy J. Becker, Ricardo Andrade, and Sayiddah F. McCree. "The Tax Man: Taxes in Private Equity Real Estate." Harvard Business School Case 218-077, February 2018. (Revised December 2019.)

• December 2017 (Revised November 2018)
• Case

Tesla: Merging with SolarCity

By: Stuart C. Gilson and Sarah L. Abbott

In 2016, electric car manufacturer Tesla announced that it was making an offer to acquire solar panel manufacturer SolarCity in an all-stock offer worth $2.6 billion in Tesla stock. Tesla’s co-founder and CEO, Elon Musk, believed that the merger would generate...  View Details

Keywords: M＆A; M＆A Valuation; Investing; Equities; Equity; Valuation; Mergers and Acquisitions; Auto Industry; Energy Industry; United States

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Gilson, Stuart C., and Sarah L. Abbott. "Tesla: Merging with SolarCity." Harvard Business School Case 218-038, December 2017. (Revised November 2018.)

• 2019
• Working Paper

Compensation Consultants and the Level, Composition, and Complexity of CEO Pay

By: Kevin J. Murphy and Tatiana Sandino

We provide fresh evidence regarding the relation between compensation consultants and CEO pay. First, firms that employ consultants have higher-paid CEOs—this result is robust to firm fixed effects and matching on economic and governance variables. Second, while this...  View Details

Keywords: Consultants; Benchmarking; Incentive Pay; Executive Compensation; Complexity; Motivation and Incentives; Governance

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Murphy, Kevin J., and Tatiana Sandino. "Compensation Consultants and the Level, Composition, and Complexity of CEO Pay." Harvard Business School Working Paper, No. 18-027, September 2017. (Revised March 2019. Accepted and forthcoming at The Accounting Review.)

• Fall 2016
• Article

The Integrity of Private Third-party Compliance Monitoring

By: Jodi L. Short and Michael W. Toffel

Government agencies are increasingly turning to private, third-party monitors to inspect and assess regulated entities’ compliance with law. The integrity of these regulatory regimes rests on the validity of the information third-party monitors provide to regulators....  View Details

Keywords: Regulation; Compliance; Compliance Policies; Conflict Of Interest; Independent Third Party; Inspection; Audit Quality; Auditor; Audit; Environment; Safety; Conflict of Interests; Working Conditions; Labor; Corporate Social Responsibility and Impact; Governance Compliance; Accounting Audits

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Short, Jodi L., and Michael W. Toffel. "The Integrity of Private Third-party Compliance Monitoring." Administrative & Regulatory Law News 42, no. 1 (Fall 2016): 22–25.