Finance
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- 2024
- Working Paper
Corporate Actions as Moral Issues
By: Zwetelina Iliewa, Elisabeth Kempf and Oliver SpaltWe study how a representative sample of the U.S. population evaluates a broad range of corporate actions from a nonpecuniary perspective. Our core findings, based on large-scale online surveys, are that (i) self-reported nonpecuniary concerns are large, both for stock market investors and non-investors; (ii) concerns about the treatment of workers and CEO pay rank highest, higher than concerns about workforce diversity and fossil energy usage; (iii) moral universalism (Enke (2024)) emerges as a key driver of nonpecuniary preferences, explaining substantial variation both across participants as well as across corporate actions. Combined, our findings provide new evidence on the importance of moral concerns as a driver of nonpecuniary preferences in the context of corporate actions.
- 2024
- Working Paper
Corporate Actions as Moral Issues
By: Zwetelina Iliewa, Elisabeth Kempf and Oliver SpaltWe study how a representative sample of the U.S. population evaluates a broad range of corporate actions from a nonpecuniary perspective. Our core findings, based on large-scale online surveys, are that (i) self-reported nonpecuniary concerns are large, both for stock market investors and non-investors; (ii) concerns about the treatment of workers...
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- 2025
- Working Paper
Using Satellites and Phones to Evaluate and Promote Agricultural Technology Adoption: Evidence from Smallholder Farms in India
By: Shawn Cole, Grady Killeen, Tomoko Harigaya and Aparna KrishnaThis paper evaluates a low-cost, customized soil nutrient management advisory service in India. As a methodological contribution, we examine whether and in which settings satellite measurements may be effective at estimating both agricultural yields and treatment effects. The intervention improves self-reported fertilizer management practices, though not enough to measurably affect yields. Satellite measurements calibrated using OLS produce more precise point estimates than farmer-reported data, suggesting power gains. However, linear models, common in the literature, likely produce biased estimates. We propose an alternative procedure, using two-stage least squares. In settings without attrition, this approach obtains lower statistical power than self-reported yields; in settings with differential attrition, it may substantially increase power. We include a “cookbook'' and code that should allow other researchers to use remote sensing for yield estimation and program evaluation.
- 2025
- Working Paper
Using Satellites and Phones to Evaluate and Promote Agricultural Technology Adoption: Evidence from Smallholder Farms in India
By: Shawn Cole, Grady Killeen, Tomoko Harigaya and Aparna KrishnaThis paper evaluates a low-cost, customized soil nutrient management advisory service in India. As a methodological contribution, we examine whether and in which settings satellite measurements may be effective at estimating both agricultural yields and treatment effects. The intervention improves self-reported fertilizer management practices,...
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- January 2025
- Case
Hunter Point Capital
By: Josh Lerner, John D. Dionne and Srimayi MylavarapuIn the spring of 2023, Hunter Point Capital faced a pivotal decision that could define its trajectory as a new player in the growing GP stakes business. As the firm neared completion of three high-profile GP stakes investments, consuming nearly a third of its initial fund, an unexpected opportunity emerged to expand into GP Financing Solutions. This new line of business, including Net Asset Value ("NAV") lending and preferred financing, aligned with Hunter Point's long-term strategy but arose earlier than anticipated. Expanding from a GP stakes-focused firm to a multi-product platform could potentially solidify Hunter Point's position within the broader GP capital solutions ecosystem. However, this move also carried significant risks, including operational strain, potential conflicts with existing investors, and concerns about the firm's strategic focus and capacity. Should Hunter Point seize the opportunity to diversify now, or focus on strengthening its position in the GP stakes market first?
- January 2025
- Case
Hunter Point Capital
By: Josh Lerner, John D. Dionne and Srimayi MylavarapuIn the spring of 2023, Hunter Point Capital faced a pivotal decision that could define its trajectory as a new player in the growing GP stakes business. As the firm neared completion of three high-profile GP stakes investments, consuming nearly a third of its initial fund, an unexpected opportunity emerged to expand into GP Financing Solutions....
About the Unit
Our strategy is to assemble and nurture a faculty whose interests and skills complement each other, and who work well together:
a) to produce a broad range of finance-related research that is published in top-tier scientific and practitioner journals, and that addresses issues of present and future importance to managers (including regulators and policy makers);
b) to develop highly-relevant and intellectually rigorous MBA and executive education courses; and
c) to mentor future academics through the Business Economics doctoral program.
Our applied focus and access to business organizations are major advantages which are reinforced by our students and our case-based approach. We have a faculty with broad expertise, and we have resources, field contacts, and institutional support, all of which we can leverage to do richer work and be more productive than we could at other institutions.
Recent Publications
Corporate Actions as Moral Issues
- 2024 |
- Working Paper |
- Faculty Research
Big Media’s Game of Thrones
- January 2025 |
- Teaching Note |
- Faculty Research
Using Satellites and Phones to Evaluate and Promote Agricultural Technology Adoption: Evidence from Smallholder Farms in India
- 2025 |
- Working Paper |
- Faculty Research
Balancing Impact: Modeling the Future at British International Investment
- January 2025 |
- Supplement |
- Faculty Research
Hunter Point Capital
- January 2025 |
- Case |
- Faculty Research
Balancing Impact: Modeling the Future at British International Investment
- January 2025 |
- Teaching Note |
- Faculty Research
Hippo: Weathering the Storm of the Home Insurance Crisis (B)
- January 2025 |
- Supplement |
- Faculty Research
Due Diligence of Small Companies
- January 2025 |
- Course Overview Note |
- Faculty Research
Harvard Business Publishing
Seminars & Conferences
There are no upcoming events.