Research
Research
- Review of Corporate Finance Studies
Short-Termism and Capital Flows
By:
Jesse M. Fried and Charles C.Y. Wang
| During 2007–2016, S&P 500 firms distributed to shareholders $7 trillion via buybacks and dividends, over 96% of their aggregate net income, prompting claims that "short-termism" is impairing firms' ability to invest and innovate. We show that, when taking into account... |
- February 2019
- American Economic Journal: Economic Policy
Does It Matter if Your Health Insurer Is For Profit? Effects of Ownership on Premiums, Insurance Coverage, and Medical Spending
By:
Leemore S. Dafny
| There is limited empirical evidence about the impact of for-profit health insurers on various outcomes. I study the effects of conversions to for-profit status by Blue Cross Blue Shield (BCBS) affiliates in 11 states, spanning 28 geographic markets. I find both the... |
- January 2019
- Case
CrossBoundary Energy
By:
John Macomber
| Almost 500 million people are without electricity in sub-Saharan Africa. Governments and public utilities are challenged to bring generation and distribution to most of them. Considerable promise exists in “off-grid” or “mini-grid” technologies, notably using renewable... |
- January 2019
- Teaching Material
Hubble Contact Lenses: Data Driven Direct-to-Consumer Marketing
By:
Ayelet Israeli
| As its Series A extension round approaches, the founders of Hubble, a subscription-based, social-media fueled, direct-to-consumer (DTC) brand of contact lenses, are reflecting on the marketing strategies that have taken them to a valuation of $200 million and debating... |
- January 2019
- Case
SoundCloud: Subscription Streaming?
| Established in 2007, by early 2014 SoundCloud already boasted the second largest number of active music listeners among all streaming services and was recognized as the go-to platform for new artists. Yet, its founders were questioning the robustness of the firm’s... |
- January 2019
- Case
Glossier: Co-Creating a Cult Brand with a Digital Community
By:
Jill Avery
| Glossier’s proclaimed strategy was “born from content, fueled by community”. The digital-first, direct-to-consumer beauty brand had experienced rapid growth, with sales up 600% in 2017 and a customer portfolio that grew by threefold. But, its founder, Emily Weiss, was... |
- January 2019
- Case
Analytical Space: The Next Frontier?
By:
Thomas R. Eisenmann, Jeffrey J. Bussgang and David Lane
| With one satellite aloft and in the midst of beta testing in late 2018, Analytical Space founders Justin Oliveira and Dan Nevius turned to critical questions about the pioneering startup’s go-to-market, pricing, and business development strategy. Analytical Space aimed... |
- 2019
- Book
Creative Construction: The DNA of Sustained Innovation
By:
Gary P. Pisano
| This myth-busting book shows large companies can construct a strategy, system, and culture of innovation that creates sustained growth. Every company wants to grow, and the most proven way is through innovation. The conventional wisdom is that only disruptive, nimble... |
- January 2019
- Journal of Financial Economics
Pay Now or Pay Later? The Economics within the Private Equity Partnership
By:
Victoria Ivashina and Josh Lerner
| The economics of partnerships have been of enduring interest to economists, but many issues regarding intergenerational conflicts and their impact on the continuity of these organizations remain unclear. We examine 717 private equity partnerships and show that (a) the... |
- December 2018
- Case
Fishbowl
By:
Leslie John
| Fishbowl is a social media app that allows professionals to connect with other relevant professionals both within their company and across industry. Unlike many other social media apps, on which users typically present idealized portraits of themselves, on Fishbowl,... |
- December 2018
- Case
Corporate Transformation at Merck KGaA, Darmstadt, Germany
By:
Joseph B. Fuller, Amy C. Edmondson, Daniela Beyersdorfer and Tonia Labruyere
| When Stefan Oschmann became CEO and Chairman of the Executive Board of Merck KGaA, Darmstadt, Germany, in 2016, the company had started its transformation from a mid-tier traditional German industry player to a global modern science and technology player. The... |
- December 2018
- Case
R/GA: Corporate Venture Studio vs. Accelerator
By:
Andy Wu, Grant Son and Aastha Thakar
| New approach to accelerating the development of innovation through corporate venturing by creating partnerships between startup venture and established corporations through the launch of the Global Sports Venture Studios created by R/GA Ventures and the Los Angeles... |
- 2018
- Working Paper
The Creation and Evolution of Entrepreneurial Public Markets
By:
Shai Bernstein, Abhishek Dev and Josh Lerner
| This paper explores the creation and evolution of new stock exchanges around the world geared towards entrepreneurial companies, known as second-tier exchanges. Using hand-collected novel data, we document the proliferation of these new stock exchanges that were... |
- December 2018
- Case
Choosy
By:
Jeffrey J. Bussgang and Julia Kelley
| Founded in 2017, Choosy is a data-driven fashion startup that uses algorithms to identify styles trending on social media. After manufacturing similar items using a China-based supply chain, Choosy sells them to consumers through its website and social media pages.... |
- December 2018
- Case
iyzico: Fundraising in Emerging Markets (A)
By:
Marco Di Maggio and Gamze Yucaoglu
| The case opens in 2016 as Barbaros Ozbugutu, co-founder and CEO of the Istanbul-based payment technology start-up iyzico, contemplates the offers the company received for its Series C round. The case then describes iyzico’s origins and provides a detailed overview of... |