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- March 2025
- Case
Silicon Valley Bank: Gone in 36 Hours
This case examines factors contributing to the collapse of Silicon Valley Bank (SVB) in March 2023, an event as unpredicted as it was quick. SVB funded nearly half of all U.S. venture-backed startups and at the end of 2022 held $173 billion in deposits, largely... View Details
Keywords: Accounting Standards; Bank Runs; Financial Accounting; Financial Reporting; Social Media; Banks and Banking; Financing and Loans; Investment Portfolio; Interest Rates; Debt Securities; Risk and Uncertainty; Financial Statements; Risk Management; Failure; Fair Value Accounting; Credit; Corporate Governance; Financial Services Industry; Banking Industry; United States
- March 2025
- Case
The Changing Climate on Wall Street
By: Clayton S. Rose, Maxim Pike Harrell and Michael Norris
Increasing and conflicting regulatory requirements and political pressures regarding climate change tested the leaders of U.S. financial institutions, as they struggled to determine how best to comply while managing their business and its risks.
In October 2024,... View Details
Keywords: Change; Disruption; Competency and Skills; Decision Making; Cost vs Benefits; Ethics; Governance; Corporate Accountability; Leadership; Management; Risk Management; Organizations; Corporate Social Responsibility and Impact; Mission and Purpose; Organizational Change and Adaptation; Organizational Culture; Society; Civil Society or Community; Social Issues; Strategy; Adaptation; Banking Industry; Financial Services Industry; Insurance Industry; United States; Europe
- March 2025
- Article
Limited Accountability and Awareness of Corporate Emissions Target Outcomes
By: Xiaoyan Jiang, Shawn Kim and Shirley Lu
Firms are increasingly announcing targets to reduce their carbon emissions, but it is unclear whether firms are held accountable for these targets. Here we examine emissions targets that ended in 2020 to investigate the final target outcomes, the transparency of target... View Details
- February 2025
- Case
Align Partners and SM Entertainment: Korean Shareholder Activism Meets K-Pop (A)
By: Charles CY Wang and Billy Chan
For years, institutional investors had experienced very limited success in influencing the management of listed companies through shareholder activist campaigns in Korea. The common practice of circular ownership and public resentment toward foreign shareholder... View Details
- February 2025
- Supplement
Align Partners and SM Entertainment: Korean Shareholder Activism Meets K-Pop (B)
By: Charles CY Wang and Billy Chan
For years, institutional investors had experienced very limited success in influencing the management of listed companies through shareholder activist campaigns in Korea. The common practice of circular ownership and public resentment toward foreign shareholder... View Details
- 2025
- Working Paper
Blockchain Adoption and Audit Quality
By: Mei Luo, Daniel Rabetti and Shuangchen Yu
This study examines the impact of blockchain adoption in the corporate setting. Specifically, we provide comprehensive empirical support to recent theory (Cao, Cong, and Young, 2024) proposing that blockchain adoption positively affects endogenous audit quality and... View Details
- January 2025
- Supplement
Creating Value by Splitting Aster (B): Can One Minus One Equal Two?
By: V.G. Narayanan and Kairavi Dey
- January 2025 (Revised March 2025)
- Case
Creating Value by Splitting Aster: Can One Minus One Equal Two?
By: V.G. Narayanan and Kairavi Dey
Aster DM Healthcare (Aster), founded by Dr. Azad Moopen in 1987, is a prominent healthcare conglomerate with operations spanning hospitals, clinics, retail pharmacies, and diagnostic centers across India and the GCC. After its 2018 listing on India’s National Stock... View Details
- January 2025
- Case
Netflix: Takedown Troubles
By: Clayton S. Rose, Tom Quinn and Maxim Pike Harrell
In October 2021, Netflix Co-CEO Ted Sarandos sent an all-staff email addressing backlash to comedian Dave Chappelle’s new stand-up special, The Closer. Released on October 5, the comedian’s depiction of the transgender community and other LGBTQ+ groups prompted... View Details
Keywords: Disruption; Talent and Talent Management; Customer Satisfaction; Cost vs Benefits; Demographics; Ethics; Corporate Accountability; Employees; Recruitment; Retention; Leadership; Crisis Management; Risk Management; Corporate Social Responsibility and Impact; Mission and Purpose; Organizational Change and Adaptation; Organizational Culture; Civil Society or Community; Social Issues; Strategic Planning; Adaptation; Decisions; Motion Pictures and Video Industry
- January 2025
- Case
A Tiger in the Tank: Exxon Sues Investors
By: Clayton S. Rose, Sarah Sasso and James Weber
In June 2024, investors were trying to make sense of ExxonMobil’s (Exxon) lawsuit against two impact investors, Arjuna Capital (Arjuna) and Follow This, that had just been dismissed by the U.S. District Court of Northern Texas. Exxon’s suit challenged the rights of two... View Details
Keywords: Disruption; Talent and Talent Management; Customer Satisfaction; Decision Making; Demographics; Ethics; Corporate Accountability; Employees; Recruitment; Retention; Leadership; Crisis Management; Risk Management; Corporate Social Responsibility and Impact; Mission and Purpose; Organizational Change and Adaptation; Civil Society or Community; Social Issues; Adaptation; Investment Activism; Lawsuits and Litigation; Business and Shareholder Relations; Medical Devices and Supplies Industry; Health Industry; Energy Industry; United States; Netherlands; Norway
- January 2025
- Case
Shifting Winds: DEI in Corporate America
By: Clayton S. Rose, Maisie Wiltshire-Gordon and David Lane
In the 2020s, intense and conflicting social and political pressures challenged organizational leaders around the world. Prominent among these were powerful competing views on workplace diversity, equity, and inclusion programs (DEI) in the United States. Public... View Details
Keywords: Disruption; Leadership; Crisis Management; Risk Management; Corporate Social Responsibility and Impact; Mission and Purpose; Organizational Change and Adaptation; Organizational Culture; Civil Society or Community; Social Issues; Talent and Talent Management; Customer Satisfaction; Diversity; Ethics; Corporate Accountability; Employees; Retention; Recruitment; Adaptation; Programs; Consulting Industry; Auto Industry; Agriculture and Agribusiness Industry; Consumer Products Industry; Motorcycle Industry; Technology Industry; Education Industry; United States; Massachusetts; Maryland; Tennessee; District of Columbia
- January 2025
- Case
Cyber Oversight: SolarWinds Board of Directors
By: Lynn S. Paine
In 2020, just two years after its IPO, information technology company SolarWinds discovered that it was the victim of an attack on its information systems by Russian hackers. The incident, known as the Sunburst attack, was costly for the company, and certain... View Details
- January 2025
- Article
Enterprise Resource Planning (ERP) System Implementations and Corporate Misconduct
By: Jonas Heese and Joseph Pacelli
This study examines whether enterprise resource planning (ERP) implementations are associated with reductions in corporate misconduct. Specifically, we study the relation between staggered facility-level rollouts of ERP systems and facility-level regulatory violations... View Details
- 2024
- Working Paper
Scaling Core Earnings Measurement with Large Language Models
By: Matthew Shaffer and Charles CY Wang
We study the application of large language models (LLMs) to the estimation of core earnings, i.e., a firm's persistent profitability from its core business activities. This construct is central to investors' assessments of economic performance and valuations. However,... View Details
- October 2024
- Module Note
Purpose of the Firm
By: Debora L. Spar and Julia M. Comeau
Purpose of the Firm (PoF) is a short module designed to explore how, and under what circumstances, business leaders can harness the power of capitalism and markets to “make a difference in the world”—that is, to address a significant societal problem as a commercial... View Details
- September 2024 (Revised March 2025)
- Supplement
Wemade: (Re)Establishing Trust in Blockchain Games (B)
By: Jung Koo Kang, Charles C.Y. Wang, David Allen and Kwangmoon So
This supplement reviews Wemade's efforts to rebuild confidence in its business after its WEMIX coin was delisted from the major South Korean cryptocurrency exchanges on December 8, 2022. It outlines Wemade's strategy of transparency, which included partnerships with... View Details
- September 2024
- Case
Faena: Magic in Mid-Miami Beach
By: Robin Greenwood, Denise Han, Dave Habeeb and Ruth Page
The link to this multimedia case should be provided to students in advance as preparation for classroom case discussion.
This multimedia case follows real estate developer Alan Faena as he expanded his luxury development business from Argentina to the... View Details
This multimedia case follows real estate developer Alan Faena as he expanded his luxury development business from Argentina to the... View Details
Keywords: Development; Real Estate; Hotels; Luxury; Urban Development; Sustainable Cities; Design; Markets; Transformation; Cost vs Benefits; Economic Growth; Private Sector; Public Sector; Economic Slowdown and Stagnation; Cultural Entrepreneurship; Financial Strategy; Investment Return; Geographic Location; Urban Scope; Corporate Accountability; Collaborative Innovation and Invention; Business and Community Relations; Business and Government Relations; Opportunities; Culture; Value Creation; Real Estate Industry; Entertainment and Recreation Industry; Florida; Miami; Argentina; Buenos Aires
- September 20, 2024
- Article
It’s Time to Unbundle ESG
By: Aaron K. Chatterji and Michael W. Toffel
ESG is at an inflection point. It has come to represent a broad and inchoate aspiration for what business should be doing beyond maximizing shareholder value. With ESG advocates on the defensive, business leaders need a new roadmap to determine which factors to... View Details
Keywords: ESG; ESG (Environmental, Social, Governance) Performance; ESG Ratings; ESG Reporting; ESG Disclosure; Sustainability; Climate; Climate Finance; Climate Risk; Social Accounting; Investment; Governance; Safety; Climate Change; Environmental Sustainability; Corporate Social Responsibility and Impact; Financial Services Industry
- July–August 2024
- Article
Disclosing Downstream Emissions
By: Robert S. Kaplan and Karthik Ramanna
An increasing number of companies are using the E-liability carbon-accounting method as an important tool for tracking progress toward reducing global emissions in their supply chains. The system does not require formal accounting for downstream emissions—those... View Details
- June 2024 (Revised December 2024)
- Case
Climate Governance at Linde plc (A)
By: Lynn S. Paine, Suraj Srinivasan, Emilie Billaud and Vincent Dessain
In July 2023, the Linde plc board of directors' sustainability committee convened in London to review the company's environmental performance, with a focus on decarbonization and clean energy. Linde was the world's largest industrial gas supplier, with a workforce of... View Details
Keywords: Climate Change; Environmental Sustainability; Green Technology; Multinational Firms and Management; Corporate Accountability; Corporate Disclosure; Corporate Governance; Governing and Advisory Boards; Compensation and Benefits; Innovation Strategy; Leading Change; Goals and Objectives; Business and Shareholder Relations; Chemical Industry; United States; Germany; Europe; North America; London