Research
Research
- Forthcoming
- Journal of Accounting Research
The Role of Gatekeepers in Capital Markets
By:
Suraj Srinivasan and Sugata Roychowdhury
| Gatekeepers in financial markets have the power to provide the institutional stability, fortitude and direction necessary for the development and the smooth functioning of capital markets. At the same time, they are often motivated by their own private incentives. This... |
- 2019
- Working Paper
Rehabilitating Corporate Purpose
| In this essay, I address how the ascendance of the theory of shareholder value maximization into the central consciousness of public corporations and its canonization as the only legitimate expression of corporate purpose has contributed to both a widening breach... |
- April 2019
- Case
Kraft Heinz: The $8 Billion Brand Write-Down
By:
Jill Avery
| On Friday, February 22, 2019, following an unexpected and disappointing earnings report, The Kraft Heinz Company’s stock price fell 27%, wiping out $16 billion in market value. CEO Bernardo Hees had announced that the company had taken a $15.4 billion asset write-down,... |
- April 2019
- Review of Financial Studies
Private Equity and Financial Fragility during the Crisis
By:
Shai Bernstein, Josh Lerner and Filippo Mezzanotti
| Do private equity firms contribute to financial fragility during economic crises? We find that during the 2008 financial crisis, PE-backed companies increased investments relative to their peers, while also experiencing greater equity and debt inflows. The effects are... |
- 2019
- Book
Fintech, Small Business & the American Dream: How Technology Is Transforming Lending and Shaping a New Era of Small Business Opportunity
By:
Karen G. Mills
| Fintech, Small Business & the American Dream describes the needs of small businesses for capital and demonstrates how technology—novel data sources, artificial intelligence, machine learning—will transform the small business lending market. This market has been plagued... |
- March 2019
- Case
HOPI: Turkey's Shopping Companion
By:
Sunil Gupta, Donald Ngwe and Gamze Yucaoglu
| The case opens in 2017 as Onur Erbay, CEO of HOPI, a multi-vendor loyalty platform, is contemplating a critical decision. The case chronicles the origins of Boyner Group, the parent company of HOPI and a major retailer in Turkey, and development of retail and customer... |
- March 2019
- Case
Mahindra Finance
By:
V.G. Narayanan and Tanvi Deshpande
| Mahindra Finance is a non-banking lender operating mainly in the rural and semi-urban areas of India. Set up in 1991, the company had grown to become a market leader with assets of $8.5 billion and a presence in 3,30,000 villages across India. Since most of Mahindra's... |
- March 2019
- Case
HelloSelf: Foundation
By:
John R. Wells and Benjamin Weinstock
| On January 6, 2019, HelloSelf, a London-based “BrainTech” company, founded a year earlier by Charles Wells, soft launched. The proposition was simply to help its members “Be your Best Self.” The company provided its registered members with access to a clinical... |
- Forthcoming
- Review of Accounting Studies
The Effect of Enforcement Transparency: Evidence from SEC Comment-Letter Reviews
By:
Miguel Duro, Jonas Heese and Gaizka Ormazabal
| This paper studies the effect of the public disclosure of the Securities and Exchange Commission (SEC) comment-letter reviews (CLs) on firms’ financial reporting. We exploit a major change in the SEC’s disclosure policy: in 2004, the SEC decided to make its CLs... |
- 2019
- Working Paper
Government Technology Policy, Social Value, and National Competitiveness
By:
Frank Nagle
| This study seeks to better understand the impact that government technology procurement regulations have on social value and national competitiveness. To do this, it examines the impact of a change in France’s technology procurement policy that required government... |
- March 2019
- Teaching Material
Rechargeable Batteries, 2017: Gigafactory Wars in the Offing?
By:
John R. Wells and Benjamin Weinstock
| In 2017, the global market for rechargeable lithium-ion (Li-ion) batteries was 126 gigawatt-hours (GWh) valued at $37 billion, growing by $10 billion in two years. Once confined largely to consumer electronics and appliances, the rapid increase in demand was spurred by... |
- March 2019
- Teaching Material
KITEA (A) - (F)
By:
Ramon Casadesus-Masanell and Karen Elterman
| This teaching note accompanies the KITEA series of cases, which details how the Moroccan furniture company KITEA prepared for the entry of IKEA into the Moroccan market and describes the outcome of that entry. |
- March 2019
- Teaching Material
KITEA (D): Further Changes
By:
Ramon Casadesus-Masanell and Gamze Yucaoglu
| The case opens in February 2016, when the official date of IKEA’s store opening (March 16, 2016) is announced after a five month delay. It reviews the changes that Amine and Othman Benkirane had made to KITEA’s workforce in the extra five months afforded by the delay,... |
- March 2019
- Teaching Material
KITEA (C): A Surprise Delay
By:
Ramon Casadesus-Masanell and Gamze Yucaoglu
| This case describes the delay of IKEA’s store opening in Morocco in 2015. After Sweden ordered an internal review of its position on the independence of Western Sahara, a territory Morocco regarded as part of its own, the Moroccan government declared that IKEA did not... |
- March 2019
- Teaching Material
KITEA (F): Expanding in Africa
By:
Ramon Casadesus-Masanell and Gamze Yucaoglu
| The case opens in 2018 after KITEA has recorded two years of double-digit sales growth following IKEA’s entry into the Moroccan market. It then traces the factors that contributed to KITEA’ success and that led Tana Africa Capital Limited to acquire a minority stake in... |