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- 2021
- Working Paper
Once Bitten, Twice Shy: Learning from Corporate Fraud and Corporate Governance Spillovers
By: Trung Nguyen
This paper finds that investors learn from their experience with corporate fraud and financial misconduct and modify their investment behavior to avoid suspicious firms and increase corporate governance efforts. More specially, mutual funds that experienced corporate...
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- June 2021
- Case
One Family Textiles: Stepping Back to Move Forward?
By: V.G. Narayanan, Alpana Thapar and Fares Khrais
This case explores how a family business builds a board that includes independent directors that helps to professionalize and strengthen governance in the company. The case relates to One Family Textiles, an Abu Dhabi-headquartered manufacturer of garments. The company...
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- January 2021
- Supplement
Aster DM Healthcare: Budget Exercise
By: V.G. Narayanan and Amy Klopfenstein
In April 2020, Alisha Moopen, Deputy Managing Director of Aster DM Healthcare, a network of clinics, hospitals, and pharmacies in the Middle East and India, must create her company’s budget for the 2021 fiscal year in light of the onset of Covid-19. The pandemic had...
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Keywords:
Decision Making;
Decisions;
Forecasting and Prediction;
Judgments;
Decision Choices and Conditions;
Cost vs Benefits;
Finance;
Borrowing and Debt;
Financial Institutions;
Banks and Banking;
Financial Condition;
Financial Liquidity;
Accounting;
Budgets and Budgeting;
Management;
Crisis Management;
Health Pandemics;
Health Industry;
Asia;
India;
United Arab Emirates;
Dubai
- January 2021
- Case
Aster DM Healthcare: Budgeting for a Crisis
By: V.G. Narayanan and Amy Klopfenstein
In April 2020, Alisha Moopen, Deputy Managing Director of Aster DM Healthcare, a network of clinics, hospitals, and pharmacies in the Middle East and India, must create her company’s budget for the 2021 fiscal year in light of the onset of Covid-19. The pandemic had...
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- October 2020 (Revised November 2020)
- Case
Digging for Gold: Paulson & Co.'s Activism in the Gold Sector
By: Suraj Srinivasan and Jonah S. Goldberg
The case describes the efforts of hedge fund Paulson & Co to influence corporate governance and improve performance in the gold industry. In an innovative move, the hedge fund led the creation of the Shareholder Gold Council, a consortium of large investors in gold...
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- January 2020
- Case
Governing PG&E
By: Lynn S. Paine and Will Hurwitz
The five commissioners of the California Public Utilities Commission (CPUC) listened intently at a public forum in April 2019 as PG&E Corporation’s out-going chairman Richard Kelly described the company’s proposed new board. PG&E, which provided electricity and natural...
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Keywords:
Bankruptcy;
Board Of Directors;
Board Dynamics;
Business Ethics;
Business Model Innovation;
Corporate Boards;
Energy Efficiency;
Environmental And Social Sustainability;
Government And Business;
Hedge Funds;
Institutional Investors;
Legal Aspects Of Business;
Regulated Monopolies;
Regulation;
Shareholders;
Stakeholder Management;
Strategy And Execution;
Utilities;
Insolvency and Bankruptcy;
Governing and Advisory Boards;
Ethics;
Capital Structure;
Climate Change;
Corporate Accountability;
Corporate Governance;
Environmental Sustainability;
Executive Compensation;
Leadership;
Management;
Safety;
Business and Government Relations;
Energy Industry;
Utilities Industry;
California;
United States
- January 2020 (Revised July 2020)
- Case
BlackRock: Linking Purpose to Profit
The case revolves around the actions that Barbara Novick, co-founder and Vice-Chair of Blackrock, and Michelle Edkins, Global Head of Investment Stewardship, would need to take in response to the controversial CEO letters from Laurence (Larry) Fink, Chairman and CEO of...
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Keywords:
Boards Of Directors;
Institutional Investors;
Disclosure;
Transparency;
Corporate Purpose;
Corporate Profits;
ESG;
ESG Disclosure Metrics;
Corporate Sustainability;
Engagement Strategy Of Institutions;
Stewardship Role Of Institutions;
BlackRock;
Corporate Governance;
Governing and Advisory Boards;
Institutional Investing;
Accounting;
Corporate Disclosure;
Mission and Purpose;
Profit;
Environmental Sustainability;
Climate Change;
Diversity;
Corporate Accountability;
Financial Services Industry;
United States
- December 2019 (Revised May 2021)
- Case
The Dutch East India Company in 1612 (A)
By: Lynn S. Paine and Giuseppe Dari-Mattiacci
The Dutch East India Company’s board of directors must decide what to do about an impending legal requirement to liquidate the company’s assets and return to shareholders their capital and any profits earned during a ten-year lock-up period. The charter granted to the...
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- December 2019
- Case
WeWork Files for an IPO
By: Lynn S. Paine and Will Hurwitz
For the board of The We Company—better known as WeWork—August 14, 2019, promised to be a pivotal day. It was then that WeWork’s IPO prospectus, known as an S-1 filing, would be made public, giving potential investors, the media, and the general public a window into the...
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- October 2018
- Case
Zenefits Board of Directors (A)
By: Lynn S. Paine and Will Hurwitz
In early 2018, the time seemed right for Zenefits investor and director Lars Dalgaard to reflect on whether Zenefits had the right board of directors to shepherd the company through its next stages of growth. For the company whose name combined the words “benefits,”...
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Keywords:
Ethics;
Business Model;
Corporate Accountability;
Governing and Advisory Boards;
Corporate Governance;
Crisis Management;
Entrepreneurship;
Human Resources;
Leadership;
Risk Management;
Venture Capital;
Technology Industry;
Telecommunications Industry;
Information Technology Industry;
United States;
California
- October 2018
- Supplement
Zenefits Board of Directors (B)
By: Lynn S. Paine and Will Hurwitz
Supplements the (A) case.
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Keywords:
Ethics;
Business Model;
Corporate Accountability;
Governing and Advisory Boards;
Corporate Governance;
Crisis Management;
Entrepreneurship;
Human Resources;
Leadership;
Risk Management;
Venture Capital;
Technology Industry;
Telecommunications Industry;
Information Technology Industry;
United States;
California
- October 2018
- Supplement
Zenefits Board of Directors (C)
By: Lynn S. Paine and Will Hurwitz
Supplements the (A) case.
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Keywords:
Ethics;
Business Model;
Corporate Accountability;
Governing and Advisory Boards;
Corporate Governance;
Crisis Management;
Entrepreneurship;
Human Resources;
Leadership;
Risk Management;
Venture Capital;
Technology Industry;
Telecommunications Industry;
Information Technology Industry;
United States;
California
- October 2018
- Case
African Bank Investments Limited (A)
By: Lynn S. Paine and Will Hurwitz
Less than a year after joining the board of African Bank Investments Limited (ABIL), the newest director finds himself in difficult discussions with other directors about removing the struggling company’s CEO. The case is set in South Africa in mid-2014 as shares in...
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- October 2018
- Supplement
African Bank Investments Limited (B)
By: Lynn S. Paine and Will Hurwitz
Less than a year after joining the board of African Bank Investments Limited (ABIL), the newest director finds himself in difficult discussions with other directors about removing the struggling company’s CEO. The case is set in South Africa in mid-2014 as shares in...
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- 2016
- Working Paper
The Structure of Board Committees
By: Kevin D. Chen and Andy Wu
We document and analyze board committee structures utilizing a novel dataset containing full board committee membership for over 6,000 firms. Board committees provide benefits (specialization, efficiency, and accountability benefits) and costs (information...
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- August 2016
- Article
Independent Directors' Dissent on Boards: Evidence from Listed Companies in China
By: Juan Ma and Tarun Khanna
In this paper, we examine the circumstances under which so-called "independent" directors voice their independent views on public boards in a sample of Chinese firms. First, we ask why independent directors dissent, i.e. how they justify such dissent to public...
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- July 2016 (Revised January 2019)
- Case
Cyber Breach at Target
By: Suraj Srinivasan, Lynn S. Paine and Neeraj Goyal
In November and December of 2013, Target Corporation suffered one of the largest cyber breaches to date. The breach that occurred during the busy holiday shopping season resulted in personal and credit card information of approximately 110 million Target customers...
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- 2019
- Working Paper
Transforming the Federal Bureau of Investigation: Outcome and Process Framing
This twelve-year qualitative study examines how Director Robert Mueller and his senior team profoundly transformed the United States Federal Bureau of Investigation (FBI) after the 9/11 terrorist attacks. Drawing on 138 interviews within the FBI and Mueller’s...
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- March 2015
- Teaching Note
McKinsey & Co.—Protecting its Reputation (A) and (B)
By: Jay Lorsch and Emily McTague
McKinsey & Co—Protecting its Reputation (A&B) is a field case written from the perspective of the Firm's Managing Director Dominic Barton. The two cases describe the actions McKinsey & Co took to protect the firm's reputation after the Rajat Gupta matter.
The... View Details
The... View Details
Keywords:
Consulting Firms;
Leadership & Corporate Accountability;
Leadership And Change Management;
Leadership And Managing People;
Leading A Global Business;
Corporate Culture;
Professional Service Firms;
Professional Service Firm;
Leadership;
Corporate Accountability;
Corporate Governance;
Organizational Culture;
Organizational Change and Adaptation;
Consulting Industry;
United States
- November 2014
- Article
The Impact of Corporate Sustainability on Organizational Processes and Performance
By: Robert G. Eccles, Ioannis Ioannou and George Serafeim
We investigate the effect of corporate sustainability on organizational processes and performance. Using a matched sample of 180 U.S. companies, we find that corporations that voluntarily adopted sustainability policies by 1993—termed as High Sustainability...
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Keywords:
Sustainability;
Sustainability Management;
Sustainability Research;
Sustainability Reporting;
Sustainability Targets;
Corporate Social Responsibility;
Corporate Accountability;
Reporting;
Corporate Governance;
Investor Clientele;
Investor Communication;
Stock Market;
Corporate Social Responsibility and Impact;
Environmental Sustainability;
Performance;
United States