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All HBS Web
(2,493)
- Faculty Publications (302)
- spring 2006
- Article
All's Fair in Love, War, & Bankruptcy: Corporate Governance Implications of CEO Turnover in Financial Distress
Prior discussions of management turnover during financial distress have examined bankrupt and non-bankrupt firms as distinct groupings with little overlap. Separately investigating rates of turnover in-bankruptcy and out-of-bankruptcy, without a direct comparison...
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Keywords:
CEO Turnover;
Bankruptcy;
Restructuring;
Shadow Of Bankruptcy;
Borrowing and Debt;
Credit;
Financing and Loans;
Corporate Governance;
Finance;
Theory;
Markets;
United States
Bernstein, Ethan S. "All's Fair in Love, War, & Bankruptcy: Corporate Governance Implications of CEO Turnover in Financial Distress." Stanford Journal of Law, Business & Finance 11, no. 2 (spring 2006): 299–325.
- spring 2006
- Article
All's Fair in Love, War & Bankruptcy?: Corporate Governance Implications of CEO Turnover in Financial Distress
Prior discussions of management turnover during financial distress have examined bankrupt and non-bankrupt firms as distinct groupings with little overlap. Separately investigating rates of turnover in-bankruptcy and out-of-bankruptcy, without a direct comparison...
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Bernstein, Ethan S. "All's Fair in Love, War & Bankruptcy?: Corporate Governance Implications of CEO Turnover in Financial Distress." Stanford Journal of Law, Business & Finance 11, no. 2 (spring 2006): 228–325.
- November 2005 (Revised April 2006)
- Case
Brazil Sugar and the WTO: Agricultural Reform in the European Union
By: Ray A. Goldberg, Kerry Herman and Irina Tarsis
Pedro de Camargo Neto, Brazil's secretary of trade and production for the Ministry of Agriculture, has won a WTO sugar decision for Brazil against the EU sugar policies. This case analyzes what this decision will mean to world food policies, especially those of the EU...
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Keywords:
Agribusiness;
Trade;
Governing Rules, Regulations, and Reforms;
Governing and Advisory Boards;
Policy;
Government and Politics;
Food and Beverage Industry;
Europe;
United States;
Brazil
Goldberg, Ray A., Kerry Herman, and Irina Tarsis. "Brazil Sugar and the WTO: Agricultural Reform in the European Union." Harvard Business School Case 906-408, November 2005. (Revised April 2006.)
- July 2005 (Revised December 2005)
- Case
General Motors U.S. Pension Funds
By: Luis M. Viceira and Helen Tung
In June 2003, General Motors Corp. (GM) successfully marketed the largest corporate debt offering in U.S. history, worth $17.6 billion. The offering included $13.6 billion worth of debt denominated in dollars, euros, and pounds and $4 billion dollars denominated in...
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Keywords:
Decisions;
Bonds;
Investment Return;
Policy;
Borrowing and Debt;
Corporate Finance;
Auto Industry;
United States
Viceira, Luis M., and Helen Tung. "General Motors U.S. Pension Funds." Harvard Business School Case 206-001, July 2005. (Revised December 2005.)
- 2005
- Other Unpublished Work
Corporate Financing Decisions When Investors Take the Path of Least Resistance
By: Malcolm Baker, Joshua Coval and Jeremy Stein
We explore the consequences for corporate financial policy that arise when investors exhibit inertial behavior. One implication of investor inertia is that, all else equal, a firm pursuing a strategy of equity-financed growth will prefer a stock-for-stock merger to...
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Keywords:
Decisions;
Behavior;
Stocks;
Mergers and Acquisitions;
Policy;
Investment;
Financial Institutions;
Equity;
Corporate Finance
Baker, Malcolm, Joshua Coval, and Jeremy Stein. "Corporate Financing Decisions When Investors Take the Path of Least Resistance." NBER Working Paper Series, April 2005. (First Draft in 2004.)
- February 2005
- Article
European Integration and Corporate Restructuring: The Strategy of Unilever c1957-c1990
By: Geoffrey Jones and Peter Miskell
This article examines the role of the large Anglo-Dutch consumer products company in promoting European integration. It shows that Unilever contributed financially to campaigns to support the creation of the European Union, and its subsequent expansion, despite a...
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Keywords:
Horizontal Integration;
Organizations;
Policy;
Expansion;
Market Transactions;
Geographic Location;
Restructuring;
Competition;
Brands and Branding;
Production;
Capital Structure;
Value;
Consumer Products Industry;
European Union;
United States
Jones, Geoffrey, and Peter Miskell. "European Integration and Corporate Restructuring: The Strategy of Unilever c1957-c1990." Economic History Review 58, no. 1 (February 2005): 113–139.
- January 2005 (Revised October 2005)
- Case
Private Capital and Public Policy: Standard & Poor's Sovereign Credit Ratings
By: Rawi E. Abdelal and Christopher Bruner
Describes Standard & Poor's sovereign credit ratings business. Provides background on the history of credit ratings agencies, the meaning of credit ratings, the expansion of the sovereign ratings business over recent decades, and the market for credit ratings. Also,...
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Keywords:
Sovereign Finance;
History;
Policy;
Business and Government Relations;
International Finance;
Country;
Globalized Economies and Regions;
Decision Choices and Conditions;
Capital Markets;
Debates;
Financial Services Industry;
United States
Abdelal, Rawi E., and Christopher Bruner. "Private Capital and Public Policy: Standard & Poor's Sovereign Credit Ratings." Harvard Business School Case 705-026, January 2005. (Revised October 2005.)
- January 2005 (Revised October 2005)
- Background Note
Standard & Poor's Sovereign Credit Ratings: Scales and Process
By: Rawi E. Abdelal and Christopher Bruner
Describes Standard & Poor's sovereign credit ratings scales and the credit rating process. In particular, describes the role and function of the rating committee and the analytical categories considered in arriving at a final sovereign credit rating.
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Keywords:
Financial Markets;
Credit;
Bonds;
Policy;
Risk and Uncertainty;
Measurement and Metrics;
Forecasting and Prediction;
Financial Services Industry
Abdelal, Rawi E., and Christopher Bruner. "Standard & Poor's Sovereign Credit Ratings: Scales and Process." Harvard Business School Background Note 705-027, January 2005. (Revised October 2005.)
- November 2004 (Revised March 2007)
- Case
10 Uncommon Values®: Optimizing the Stock-Selection Process
By: Paul M. Healy and Boris Groysberg
In 2003, Steve Hash, research director at Lehman Brothers, prepared to initiate the firm's "Ten Uncommon Values" stock-picking process for the year. An investment committee had to pick the 10 best stocks from about 100 stock ideas presented by the firm's analysts. The...
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Keywords:
Stocks;
Investment;
Financial Strategy;
Decision Making;
Groups and Teams;
Financial Services Industry;
United States
Healy, Paul M., and Boris Groysberg. "10 Uncommon Values®: Optimizing the Stock-Selection Process." Harvard Business School Case 405-022, November 2004. (Revised March 2007.)
- September 2004
- Article
Capital Controls: A Political Economy Approach
By: Laura Alfaro
This paper examines the economic consequences of political conflicts that arise when countries implement capital controls. In an overlapping-generations model, agents vote on whether to open or close an economy to capital flows. The young (workers) receive income from...
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Keywords:
Economy;
Voting;
Conflict of Interests;
Capital;
Government and Politics;
Wages;
Saving;
Forecasting and Prediction
Alfaro, Laura. "Capital Controls: A Political Economy Approach." Review of International Economics 12, no. 4 (September 2004): 571–590.
- February 2004 (Revised January 2005)
- Case
Hewlett-Packard: Culture in Changing Times
By: Michael Beer, Rakesh Khurana and James Weber
HP had been a highly successful and respected company for decades. It was well known for its company culture and management practices--the HP way--which emphasized both profits and people. Changing markets, strong competitors, and the growth of its computer business,...
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Keywords:
Acquisition;
Decision Choices and Conditions;
Human Resources;
Leading Change;
Managerial Roles;
Organizational Change and Adaptation;
Organizational Culture;
Performance Effectiveness;
Adoption;
Competition
Beer, Michael, Rakesh Khurana, and James Weber. "Hewlett-Packard: Culture in Changing Times." Harvard Business School Case 404-087, February 2004. (Revised January 2005.)
- January 2004 (Revised September 2004)
- Background Note
Confidentiality in Settlement Negotiations: Ethics & Law
By: Michael A. Wheeler, Dana Nelson and Gillian Morris
Legal policy has a long history of protecting confidentiality of negotiations that are designed to produce settlement. However, within the past several decades there has been a significant push toward openness. Compelling arguments support confidentiality: It helps...
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Keywords:
Ethics;
Lawsuits and Litigation;
Attorney and Client Relationships;
Policy;
Corporate Disclosure;
Negotiation
Wheeler, Michael A., Dana Nelson, and Gillian Morris. "Confidentiality in Settlement Negotiations: Ethics & Law." Harvard Business School Background Note 904-057, January 2004. (Revised September 2004.)
- December 2003
- Case
Antitrust Regulations in a Global Setting: The EU Investigation of the GE/Honeywell Merger
By: Mihir A. Desai, Belen Villalonga and Mark Veblen
Helps students understand the principles underlying competition and antitrust policy in the context of the proposed GE-Honeywell merger. The U.S. Department of Justice has already approved the transaction and it is being considered by the European Commission. The...
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Keywords:
Mergers and Acquisitions;
Decisions;
Economy;
Fairness;
Governing Rules, Regulations, and Reforms;
Competition;
Aerospace Industry
Desai, Mihir A., Belen Villalonga, and Mark Veblen. "Antitrust Regulations in a Global Setting: The EU Investigation of the GE/Honeywell Merger." Harvard Business School Case 204-081, December 2003.
- December 2003 (Revised October 2005)
- Case
High-Definition TV: The Grand Alliance
Describes political and economic forces that influenced the development of an all-digital, high-definition television (HDTV) standard in the United States between 1986 and 1996. Outlines the stakes for various government and industry participants in the...
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Keywords:
Decision Choices and Conditions;
Investment;
Policy;
Management Practices and Processes;
Emerging Markets;
Standards;
Business and Government Relations;
Networks;
Research and Development;
Technology Adoption;
Entertainment and Recreation Industry;
Technology Industry;
Japan;
Europe;
United States
Eisenmann, Thomas R. "High-Definition TV: The Grand Alliance." Harvard Business School Case 804-103, December 2003. (Revised October 2005.)
- November 2003 (Revised June 2004)
- Background Note
China's Telecommunications Sector
By: Richard L. Nolan and Stephen P. Bradley
In mid-2003, China was the fastest-growing telecom market. Telecom subscribers are estimated at 472 million. With the size and growth of telecom, China is a hot spot for new telecom and IT technologies. Furthermore, China's sheer market power provides a strong position...
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Keywords:
Globalized Markets and Industries;
Technological Innovation;
Policy;
Decision Choices and Conditions;
Competition;
Telecommunications Industry;
China
Nolan, Richard L., and Stephen P. Bradley. "China's Telecommunications Sector." Harvard Business School Background Note 904-416, November 2003. (Revised June 2004.)
- October 2003 (Revised November 2006)
- Case
GE's Talent Machine: The Making of a CEO
By: Christopher A. Bartlett and Andrew N. McLean
GE believes its ability to develop management talent is a core competency that represents a source of sustainable competitive advantage. This case traces the development of GE's rich system of human resource policies and practices under five CEOs in the post-war era,...
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Keywords:
Decision Choices and Conditions;
Capital;
Selection and Staffing;
Leadership Development;
Management Succession;
Corporate Strategy
Bartlett, Christopher A., and Andrew N. McLean. "GE's Talent Machine: The Making of a CEO." Harvard Business School Case 304-049, October 2003. (Revised November 2006.)
- October 2003
- Article
Capture by Threat
By: Ernesto Dal Bo and Rafael Di Tella
We analyze a simple stochastic environment in which policy makers can be threatened by “nasty” interest groups. In the absence of these groups, the policy maker’s desire for reelection guarantees that good policies are implemented for every realization of the shock....
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Dal Bo, Ernesto, and Rafael Di Tella. "Capture by Threat." Journal of Political Economy 111, no. 5 (October 2003): 1123–54.
- July 2003 (Revised December 2003)
- Case
Investment Policy at New England Healthcare
By: Jay O. Light, Luis M. Viceira and Akiko M. Mitsui
The Investment Committee of New England Healthcare must decide how to invest three long-term investment pools: a long-term, endowment-type fund and two pension plans. In particular, the committee is evaluating whether the two pension funds--one is a "final salary"...
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Keywords:
Decisions;
Asset Management;
Investment;
Investment Portfolio;
Policy;
Taxation;
Health Industry;
England
Light, Jay O., Luis M. Viceira, and Akiko M. Mitsui. "Investment Policy at New England Healthcare." Harvard Business School Case 204-018, July 2003. (Revised December 2003.)
- June 2003 (Revised August 2003)
- Case
Pension Policy at The Boots Company PLC
By: Luis M. Viceira and Akiko M. Mitsui
In early 2000, the trustees of the pension scheme at Boots considered a proposal to move 100% of the pension assets into a bond portfolio, which would be passively managed. The Boots Co. PLC was a leading retailer of cosmetics and toiletries in the United Kingdom, and...
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Keywords:
Performance Productivity;
Employees;
Asset Management;
Capital Structure;
Investment Portfolio;
Consumer Products Industry;
United Kingdom
Viceira, Luis M., and Akiko M. Mitsui. "Pension Policy at The Boots Company PLC." Harvard Business School Case 203-105, June 2003. (Revised August 2003.)
- December 2002 (Revised June 2003)
- Case
A Wider Europe: The Challenge of EU Enlargement
By: Rawi E. Abdelal and Kimberly A. Haddad
By 2002, the euphoria that accompanied the grandest achievement to date of Europe's 50-plus years of integration--full monetary union--was fading fast. European policy makers completed the historically unprecedented monetary integration of 12 countries, and then they...
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Keywords:
History;
Cost vs Benefits;
Expansion;
Decision Choices and Conditions;
Problems and Challenges;
European Union;
Europe
Abdelal, Rawi E., and Kimberly A. Haddad. "A Wider Europe: The Challenge of EU Enlargement." Harvard Business School Case 703-021, December 2002. (Revised June 2003.)