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- June 2025
- Article
Gender Diversity Performance and Voluntary Disclosure: Mind the (Gender Pay) Gap
By: June Huang and Shirley Lu
We study whether voluntary gender diversity disclosure is predictive of gender diversity performance. Exploiting a mandate in the United Kingdom that requires firms to disclose 2017 gender pay gap ("GPG") data for the first time, we find that providing voluntary gender... View Details
- June 2025
- Article
Integral Outside: The Financial Curb Market, the Electric Telegraph, and the Politics of Pricing in Second Empire France
Financial markets in nineteenth-century France were far more complex than an analysis of the official Bourse or its state-authorized brokers would suggest. Most financial transactions occurred on an illegal yet tacitly tolerated curb market called the coulisse, which... View Details
- May 2025
- Case
'Net Zero in Action': Impact Investing at the McKnight Foundation
By: Lauren Cohen, Christina R. Wing and Sophia Pan
Elizabeth McGeveran, Vice President of Investments at the McKnight Foundation, reflected on how to effectively advance the organization’s net-zero strategy. The foundation had committed 10% of its endowment to building a portfolio of impact investments and was among... View Details
Keywords: Investment Fund; Philanthropy; Charitable Donations; Sustainability; Foundation; Impact Investing; ESG; Family Business; Forecasting and Prediction; Private Sector; Renewable Energy; Social Entrepreneurship; Climate Change; Environmental Sustainability; Green Technology; Financial Strategy; Investment Funds; Investment Portfolio; Institutional Investing; Corporate Accountability; Corporate Social Responsibility and Impact; Mission and Purpose; Private Ownership; Philanthropy and Charitable Giving; Social Issues; Sustainable Cities; Financial Services Industry; Minnesota; United States
- May 2025
- Case
Daiichi Sankyo: Steering a Global Organization
In the spring of 2023, Sunao Manabe, CEO of Daiichi Sankyo, reflected on a pivotal decision. A large Western pharmaceutical company had made a bid to partner with Daiichi Sankyo to develop the next three products in its oncology pipeline. Daiichi Sankyo, a 125-year old... View Details
Keywords: Strategy; Culture Change; Decision-making; Leadership; Culture; Innovation; Psychological Safety
- 2025
- Report
High Stakes: A Framework for Geopolitical Risk Management
By: Meg Rithmire and David Fagan
This report provides a data-based assessment of how U.S. companies perceive geopolitical risk and articulates a recommended decision-making process and framework to manage such risk. The research reflected in the report indicates that various concerns related to China... View Details
- April 2025
- Case
#FutureFresenius: Implementing a New Strategy to Transform the Company and Advance Patient Care
By: David J. Collis, Benjamin C. Esty and Haisley Wert
In February 2024, Fresenius CEO Michael Sen reflected on the company’s transformation journey from his office in Bad Homburg, Germany. With revenues of €22 billion and a mission to advance patient care, Fresenius had built a strong reputation through decades of... View Details
- 2025
- Working Paper
The Invention of Corporate Governance
By: Yueran Ma and Andrei Shleifer
The analysis of corporate governance begins with a central feature of modern capitalism—the separation of ownership and control in large corporations—first empirically documented by Berle and Means (1932). Such separation entails several agency problems reflecting... View Details
- 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
Taylor Guitars: Making Employee Ownership Work The Taylor Way
By: Dennis Campbell, Petros Kusmu and Stacy Straaberg
In 2013, guitar manufacturer Taylor Guitars’ co-founders Bob Taylor and Kurt Listug were considering several exit options including selling to a competitor or to a private equity firm. The co-founders decided, instead, to embark on a seven-year process to transfer 100%... View Details
Keywords: Business Exit or Shutdown; Communication Strategy; Strategy; Announcements; Decisions; Music Entertainment; Values and Beliefs; Borrowing and Debt; Geographic Location; Global Range; Governance; Employee Stock Ownership Plan; Management Style; Organizational Culture; Organizational Structure; Private Ownership; Business Strategy; Management Succession; Manufacturing Industry; Entertainment and Recreation Industry; United States; California; San Diego; Mexico; Netherlands
- March 2025 (Revised April 2025)
- Case
WallStreetBets: Democratizing Retail Investing
By: Joseph Pacelli and Alexis Lefort
In summer 2024, Jaime Rogozinski anticipated the launch of a day-trading eSports event, a vision he had nurtured for years. Rogozinski, the founder of the influential subreddit WallStreetBets (WSB), created the forum in 2012 as a space for retail traders to explore... View Details
- March 2025
- Case
Harvey: AI for Lawyers
By: Suraj Srinivasan, Charles Krumholz and Radhika Kak
In early 2025, Winston Weinberg and Gabe Pereyra, co-founders of Harvey AI, reflected on the company’s meteoric rise as a pioneer in AI-powered legal technology. Since its founding in 2022, Harvey had transformed how lawyers approached research, drafting, and document... View Details
- March 2025
- Article
Is Personal Identity Intransitive?
By: J. De Freitas and L. J. Rips
There has been a call for a potentially revolutionary change to our existing understanding of the psychological concept of personal identity. Apparently, people can psychologically represent people, including themselves, as multiple individuals at the same time. Here... View Details
- March 2025
- Article
Novice Risk Work: How Juniors Coaching Seniors on Emerging Technologies Such as Generative AI Can Lead to Learning Failures
By: Katherine C. Kellogg, Hila Lifshitz-Assaf, Steven Randazzo, Ethan Mollick, Fabrizio Dell'Acqua, Edward McFowland III, François Candelon and Karim R. Lakhani
The literature on communities of practice demonstrates that a proven way for senior professionals to upskill
themselves in the use of new technologies that undermine existing expertise is to learn from junior
professionals. It notes that juniors may be better able... View Details
- February 2025 (Revised March 2025)
- Case
Accounting for Bitcoin at Block
By: Charles C.Y. Wang, Seil Kim and Sa-Pyung Sean Shin
Abstract: This case explores Block Inc.'s accounting practices for Bitcoin transactions and their impact on financial reporting. Following a 10% stock price drop after missing revenue estimates in Q3 2024, Block faced scrutiny over its Bitcoin-driven revenue model.... View Details
- February 2025
- Case
Ingersoll Rand: Broadening Employee Ownership
By: Ethan Rouen and Jenyfeer Martinez Buitrago
Set in 2024, this case examines how Ingersoll Rand—a global leader in air, liquid, and gas handling technologies—approached broadening employee ownership. The company granted restricted stock units (RSUs) to all employees on their one-year anniversary, reinforcing a... View Details
- 2025
- Working Paper
Impact Investing and Worker Outcomes
By: Josh Lerner, Markus Lithell and Gordon M. Phillips
Impact investors claim to distinguish themselves from traditional venture capital and growth
equity investors by also pursuing environmental, social, and governance (ESG) objectives.
Whether they successfully do so in practice is unclear. We use confidential Census... View Details
- January 2025 (Revised March 2025)
- Case
Thomas Müller: Mr. Bayern Munich
By: Boris Groysberg, Sascha L. Schmidt, Alexander Liebhart and Sarah Abbott
In 2024, FC Bayern Munich superstar Thomas Müller announced his retirement from German national football. His contract with Bayern Munich runs through the end of the 2024-25 season. In 2025, Müller reflects on his long career in football, on the skills that have driven... View Details
Keywords: Soccer; Football; Data Science And Analytics Management; Bundesliga; Sports Data; ＂Sports Organizations,; Career Changes And Transitions; Career Management; Retirement Transition; Skills Development; Analysis; Competency and Skills; Decision Making; Performance; Personal Development and Career; Retirement; Transition; Sports Industry; Germany
- January 2025
- Case
Hebbia: Redefining Productivity for Knowledge Workers Using AI
By: Suraj Srinivasan and Minoshka Narayan
In early 2025, George Sivulka, founder and CEO of Hebbia, reflected on the company’s rapid ascent as a pioneer in GenAI-powered productivity tools for knowledge workers. With its proprietary technology, Hebbia had redefined information retrieval and analysis and earned... View Details
Keywords: Transformation; Customer Relationship Management; AI and Machine Learning; Innovation and Management; Innovation Strategy; Service Delivery; Technological Innovation; Growth and Development Strategy; Competitive Strategy; Banking Industry; Financial Services Industry; Technology Industry; United States; New York (city, NY)
- January 2025
- Supplement
Go Mobile: Aligning District Managers and Store Teams (B)
By: Tatiana Sandino and Samuel Grad
In January 2025, Modi reflects on the past decade of Go Mobile and looks ahead to new growth strategies. View Details