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- 2022
- Chapter
Connecter les rêves
By: Hubert Joly and Mariana Arnaut
Trouver du sens dans son travail est plus que jamais vécu comme essentiel. L’entreprise, l’une des organisations humaines les plus capables d’innovation, a un rôle central à jouer face aux enjeux sociaux et environnementaux. Reste à déterminer quels principes peuvent...
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- April 2022 (Revised April 2022)
- Case
Conflicts of Interest at Uptown Bank
By: Jonas Heese
In 2013, two employees debated whether to blow the whistle on their employer, Bell Bank, after completing an internal review that revealed undisclosed conflicts of interest. Bell Bank’s Asset Management business disproportionately invested clients’ money in Bell Bank’s...
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Keywords:
Whistleblower;
Whistleblowing;
Mutual Funds;
Conflicts Of Interest;
Decision Making;
Decisions;
Judgments;
Ethics;
Moral Sensibility;
Values and Beliefs;
Finance;
Financial Institutions;
Banks and Banking;
Financial Management;
Investment;
Investment Funds;
Governance;
Corporate Accountability;
Corporate Disclosure;
Corporate Governance;
Governance Compliance;
Governance Controls;
Policy;
Law;
Legal Liability;
Social Psychology;
Motivation and Incentives;
Perception;
Perspective;
Trust;
Financial Services Industry;
North and Central America;
United States
- March 2022 (Revised June 2022)
- Case
El Salvador: Launching Bitcoin as Legal Tender
By: Laura Alfaro, Carla Larangeira and Ruth Costas
In June 2021, Nayib Bukele, El Salvador’s president, surprised the world with the announcement that the country would adopt bitcoin as legal tender, becoming the first nation to do so. Bitcoin was mostly used for trading and had one of the most volatile track records...
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- 2021
- Working Paper
Public Disclosure of Private Meetings: Does Observing Peers' Information Acquisition Affect Analysts' Attention Allocation?
By: Yi Ru, Ronghuo Zheng and Yuan Zou
We investigate the impact of observing peers’ information acquisition on financial analysts’ attention allocation. Using the timely disclosure mandate by the Shenzhen Stock Exchange as a setting, we find that, when analysts can observe that a firm is visited by other...
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- 2022
- Working Paper
Markups to Financial Intermediation in Foreign Exchange Markets
By: Jonathan Wallen
On average from 2013 to 2020, foreign asset managers in net sold forward 1.1 trillion U.S. dollars. This forward sale of dollars hedges the currency mismatch of foreign investment in U.S. dollar assets. By accommodating this demand, U.S. and European banks earn an...
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- January 2022
- Technical Note
BGIE Macro Data Repository
By: Alberto Cavallo
This technical note describes an up-to-date data repository containing balance of payment, exchange rate, and aggregate macroeconomic data in a standard format used by case studies written by members of the Business, Government & the International Economy (BGIE) group...
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Keywords:
Macroeconomics
- January 2022
- Supplement
Uber in China (C): The Cost of Success for Didi
By: William C. Kirby and Noah B. Truwit
On June 30, 2021, ride-hailing giant Didi Chuxing (Didi) raised $4.4 billion in its initial public offering (IPO) on the New York Stock Exchange (NYSE), the largest IPO of a Chinese company listed on an American exchange since Alibaba raised $25 billion in 2014....
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Keywords:
China;
Uber;
Didi Chuxing;
Start-up Growth;
Regulation;
Ride-sharing;
Transportation;
Business Startups;
Business and Government Relations;
Cross-Cultural and Cross-Border Issues;
Growth and Development;
Policy;
Competition;
Laws and Statutes;
Transportation Industry;
Technology Industry;
China
- December 2021
- Article
Seeing Oneself as a Valued Contributor: Social Worth Affirmation Improves Team Information Sharing
By: Julia Lee Cunningham, Francesca Gino, Dan Cable and Bradley Staats
Teams often fail to reach their potential because members’ concerns about being socially accepted prevent them from offering their unique perspectives to the team. Drawing on relational self and self-affirmation theory, we argue that affirmation of team members’ social...
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- December 2021 (Revised May 2022)
- Case
Troverie (A)
By: Thomas R. Eisenmann, Lindsay N. Hyde and Olivia Graham
Six months after the August 2018 launch of Troverie, a U.S.-based online retailer of luxury watches, the average cost of acquiring a customer is much higher than originally projected, and the startup is incurring a substantial loss on each sales transaction. Could...
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- 2021
- Working Paper
Segmented Arbitrage
We use arbitrage activity in equity, fixed income, and foreign exchange markets to characterize the frictions and constraints facing intermediaries. The average pairwise correlation between the twenty-nine arbitrage spreads that we study is 22%. These low correlations...
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- 2022
- Working Paper
The International Price of Remote Work
By: Alberto Cavallo, Javier Cravino, Andres Drenik and Agostina Brinatti
We use data from a large web-based job platform to study how the price of remote work is determined in a globalized labor market. In the platform, workers from around the world compete for jobs that can be done remotely. We document that, despite the global nature of...
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- October 2021
- Case
Financial Reporting at Mattel
By: Aiyesha Dey, Trung Nguyen, Marshal Herrmann and Julia Kelley
In September 2020, Diana Ferguson was nearing her first Audit Committee meeting as the newly appointed Audit Committee chair of Mattel, Inc. Mattel was just recovering from an accounting scandal which had revealed the company’s poor internal controls and weak board...
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Keywords:
Accounting;
Accounting Audits;
Financial Reporting;
Financial Statements;
Governance;
Corporate Accountability;
Corporate Disclosure;
Corporate Governance;
Governance Compliance;
Governance Controls;
Governing Rules, Regulations, and Reforms;
Governing and Advisory Boards;
Lawsuits and Litigation;
Business and Shareholder Relations;
Consumer Products Industry;
Entertainment and Recreation Industry;
Financial Services Industry;
North and Central America;
United States;
California
- September 2021
- Article
Kidney Exchange: An Operations Perspective
By: Itai Ashlagi and Alvin E. Roth
Many patients in need of a kidney transplant have a willing but incompatible (or poorly matched) living donor. Kidney exchange programs arrange exchanges among such patient-donor pairs, in cycles and chains of exchange, so each patient receives a compatible kidney....
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- 2021
- Working Paper
Shared Models in Networks, Organizations, and Groups
By: Joshua Schwartzstein and Adi Sunderam
Why did the market rise yesterday? What are the implications of the latest school shooting? Why did a particular employee get promoted? To answer such questions, we often exchange models, stories, narratives, and interpretations with others. This paper provides a...
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- August 2021 (Revised November 2021)
- Case
The NCB Capital Turnaround: Waking the Sleeping Giant
By: Sandra J. Sucher, Gamze Yucaoglu, Shalene Gupta and Fares Khrais
The case opens in 2019, five years after, Sarah Al Suhaimi, CEO of NCB Capital (NCBC), the investment arm of Saudi’s largest bank, NCB, took the helm. Having successfully turned the business to make it the market leader, she was contemplating her next steps as...
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- July 2021
- Case
'Why I Blew the Whistle': Mauro Botta v. PwC
By: Aiyesha Dey, Jonas Heese and Sarah Mehta
Set in April 2021, this case tells the story of Mauro Botta, a senior manager at PricewaterhouseCoopers (PwC). In 2016, Botta filed a whistleblower claim with the U.S. Securities and Exchange Commission, alleging that PwC had failed to fulfill its obligations to remain...
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- July 2021
- Article
Augmenting Markets with Mechanisms
By: Samuel Antill and Darrell Duffie
We explain how the common practice of size-discovery trade detracts from overall financial market efficiency. At each of a series of size-discovery sessions, traders report their desired trades, generating allocations of the asset and cash that rely on the most recent...
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- June 2021 (Revised November 2021)
- Case
Asian Corporate Governance Association: Stemming a 'Race to the Bottom' by Stock Exchanges?
By: Charles C.Y. Wang and Billy Chan
This case describes the movement towards dual-class listings on Asian stock exchanges and the efforts of the Asian Corporate Governance Association (ACGA), a not-for-profit shareholder advocacy group, to discourage this trend. As a not-for-profit organization with no...
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