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  • 2021
  • Working Paper

Absenteeism, Productivity, and Relational Contracts Inside the Firm
By: Jorge Tamayo, Achyuta Adhvaryu, Jean-Francois Gauthier and Anant Nyshadham
We study relational contracts among managers using a unique dataset that tracks transfers of workers across teams in Indian ready-made garment factories. We focus on how relational contracts help managers cope with worker absenteeism shocks, which are frequent, often...  View Details
Keywords: Implicit Contracts; Productivity; Misallocation; Absenteeism; Management; Supervisors; Readymade Garments; India
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  • November 12, 2020
  • Article

What We Can Learn About Unity from Hostile Takeovers
By: Rosabeth Moss Kanter
In the wake of the recent election, the United States faces a fraught, difficult transfer of power. What we know about hostile takeovers in business can provide help in finding a path forward. Leaders on the winning side of the more successful acquisitions emphasized...  View Details
Keywords: Leadership; Transition; Government and Politics; Mergers and Acquisitions
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  • 2020
  • Working Paper

Design Rules, Volume 2: How Technology Shapes Organizations: Chapter 3 Transaction Free Zones
By: Carliss Y. Baldwin
In Chapter 2 we saw that the most economical locations for transactions in a task network are the so-called thin crossing points—places where transfers are easy to define, count and pay for. However, in many places in the task network, transfers of material, energy,...  View Details
Keywords: Modularity; Technology; Organizations
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  • December 2018
  • Case

CIR Group: Passing Wealth through the Generations
By: Lauren Cohen, Christopher J. Malloy and Elena Corsi
Rodolfo, Marco, and Edoardo De Benedetti had received from their father his controlling shares in COFIDE, a publicly listed holding company that held 45.8% of CIR Group, another publicly listed holding. The latter held majority shares in GEDI, Italy’s largest print...  View Details
Keywords: Succession Planning; Transferring Shares; Wealth Management; Holding Structures; Family Ownership; Ownership Stake; Management Succession; Governing and Advisory Boards; Policy; Media and Broadcasting Industry; Health Industry; Italy
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  • January–February 2017
  • Article

The Truth about Blockchain
By: Marco Iansiti and Karim R. Lakhani
Contracts, transactions, and records of them provide critical structure in our economic system, but they haven’t kept up with the world’s digital transformation. They’re like rush-hour gridlock trapping a Formula 1 race car. Blockchain promises to solve this problem....  View Details
Keywords: Technological Innovation; Technology Adoption; Information Management; Information Technology Industry
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  • Article

How Elastic Are Preferences for Redistribution? Evidence from Randomized Survey Experiments
By: Ilyana Kuziemko, Michael I. Norton, Emmanuel Saez and Stefanie Stantcheva
We analyze randomized online survey experiments providing interactive, customized information on U.S. income inequality, the link between top income tax rates and economic growth, and the estate tax. The treatment has large effects on views about inequality but only...  View Details
Keywords: Income; Taxation; Economic Growth; United States
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  • June 2014 (Revised January 2017)
  • Case

Focus Financial Partners and the U.S. RIA Industry in 2014
By: Luis Viceira and Emily A. Chien
In the Spring of 2014, Rudy Adolf, CEO and founder of Focus Financial, and the two other co-founders of the firm are considering alternative growth strategies to solidify Focus Financial's position as a leading aggregator of independent wealth management firms in the...  View Details
Keywords: Financial Management; Growth and Development Strategy; Business Model; Financial Services Industry
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  • August 2011
  • Supplement

InnoCentive.com (B)
By: Karim R. Lakhani and Eric Lonstein
InnoCentive.com enables clients to tap into internal and external solver networks to address various business issues. In 2008, InnoCentive introduced "InnoCentive@Work" (lC@W), which recognized clients' reluctance to share problems and solutions with an external...  View Details
Keywords: Market Platforms; Cost vs Benefits; Intellectual Property; Networks; Collaborative Innovation and Invention; Product; Groups and Teams; Communication Technology
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  • Article

A Learning Perspective on Intraorganizational Knowledge Spill-Ins
By: James Oldroyd and Ranjay Gulati
This exploratory study examines the role of intraorganizational knowledge spill-ins in the process of inferential learning. Drawing on the notions of knowledge reliability (the creation of shared meanings) and validity (understandings of cause and effect), we explore...  View Details
Keywords: Learning; Perspective; Knowledge; Business Units; Organizations
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  • October 2008
  • Article

The Small World of Investing: Board Connections and Mutual Fund Returns
By: Lauren Cohen, Andrea Frazzini and Christopher J. Malloy
This paper uses social networks to identify information transfer in security markets. We focus on connections between mutual fund managers and corporate board members via shared education networks. We find that portfolio managers place larger bets on firms they are...  View Details
Keywords: Financial Markets; Information Management; Social and Collaborative Networks; Announcements; Investment Portfolio; Investment Return; Investment Funds; Asset Pricing; Governing and Advisory Boards
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  • 2008
  • Working Paper

The Small World of Investing: Board Connections and Mutual Fund Returns
By: Lauren Cohen, Andrea Frazzini and Christopher J. Malloy
This paper uses social networks to identify information transfer in security markets. We focus on connections between mutual fund managers and corporate board members via shared education networks. We find that portfolio managers place larger bets on firms they are...  View Details
Keywords: Asset Pricing; Investment Portfolio; Governing and Advisory Boards; Knowledge Sharing; Knowledge Use and Leverage; Social and Collaborative Networks; Financial Services Industry
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  • October 2007 (Revised November 2010)
  • Module Note

Evaluating M&A Deals-Equity Consideration
By: Carliss Y. Baldwin
What the acquiring company pays for a target in a merger or acquisition is called "consideration." Consideration can be in the form of cash, shares, or a combination of the two. Lays out the basic mechanics of equity consideration. Derives formulas for the Deal NPV of...  View Details
Keywords: Mergers and Acquisitions; Equity
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  • November 2006 (Revised May 2014)
  • Case

Li Ka-Shing and the Growth of Cheung Kong
By: Nitin Nohria, Anthony J. Mayo and Mark Benson
Events in the history of Cheung Kong's growth reveal how Li Ka-Shing applied his skills as a "first-class noticer" to complex political and socioeconomic environments. While Li's determination to succeed is legendary, so are his skills in reading and responding to the...  View Details
Keywords: Mergers and Acquisitions; Competency and Skills; Decision Choices and Conditions; Investment Portfolio; Business History; Leadership; Personal Development and Career; Hong Kong
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  • 2005
  • Article

Beyond Knowledge Transfer: A Typology of Knowledge Sharing Behavior in Virtual Teams
By: Deborah Soule and Lynda M. Applegate
Keywords: Knowledge; Behavior; Groups and Teams; Knowledge Sharing
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  • Article

Informal Family Insurance and the Design of the Welfare State
By: Rafael Di Tella and Robert MacCulloch
We study unemployment benefit provision when the family also provides social insurance. In the benchmark case, more generous State transfers crowd out family risk-sharing one-for-one. An extension gives the State an advantage in enforcing transfers through taxes...  View Details
Keywords: Insurance; Design; Welfare
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  • January 1995
  • Background Note

A Note on Distribution of Venture Investments
By: Josh Lerner
Venture capitalists typically exit investments by distributing shares to investors. These transfers pose challenges for these investors. Predictions and evidence about the behavior of stock prices of firms around the time of these distributions are presented.  View Details
Keywords: Forecasting and Prediction; Venture Capital; Stocks; Investment; Price
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  • October 1993 (Revised September 1996)
  • Case

BANC ONE - 1993
By: Hugo Uyterhoeven and Myra M. Hart
From a small local bank, Banc One has grown to one of the largest and most profitable banks in the United States under the leadership of its CEO, John B. McCoy. It has an impressive track record of improving the performance of its acquisitions while retaining the...  View Details
Keywords: Leadership; Acquisition; Organizational Culture; Policy; Adaptation; Business Growth and Maturation; Strategy; Performance Improvement; Industry Structures; Banking Industry; United States
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  • Forthcoming
  • Article

Ratings, Reviews, and the Marketing of New Products
By: Itay P. Fainmesser, Dominique Olié Lauga and Elie Ofek
We study how user-generated content (UGC) about new products impacts a firm's advertising and pricing decisions and the effect on profits and market dynamics. We construct a two-period model where consumers value quality and are heterogeneous in their taste for the new...  View Details
Keywords: Online Reviews; Product Ratings; Social Networks; Word Of Mouth; Pricing; User-generated Content; Advertising; Product Marketing; Price; Consumer Behavior; Product Positioning
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  • Research Summary

Compensatory Transfers in Collective Decision Making
By: Jerry R. Green
Jerry R. Green is studying mechanisms that can be employed to promote efficient collective decisions while providing justifiable compensation to participants who favor different, less efficient alternatives. This type of decision problem is pervasive in business,...  View Details

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