Research
Research
- 2019
- Book
VC: An American History
By:
Tom Nicholas
| An exploration of venture financing in America, from its origins in the whaling industry to the rise of Silicon Valley, that shows how venture capital (VC) created an epicenter for the development of high-tech innovation. The VC industry arose from the United States’... |
- July–August 2019
- Harvard Business Review
The Soul of a Startup
By:
Ranjay Gulati
| There’s an essential, intangible something in start-ups—an energy, a soul. It inspires enthusiasm and fosters a sense of deep connection and mutual purpose. While this spirit persists, engagement is high and businesses keep their edge. But all too often, companies lose... |
- Summer 2019
- RAND Journal of Economics
The Price Effects of Cross-Market Mergers: Theory and Evidence from the Hospital Industry
By:
Leemore S. Dafny, Katherine Ho and Robin S. Lee
| We consider the effect of mergers between firms whose products are not viewed as direct substitutes for the same good or service but are bundled by a common intermediary. Focusing on hospital mergers across distinct geographic markets, we show that such combinations... |
- Forthcoming
- Journal of Financial Economics
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... |
- June 2019 (Revised July 2019)
- Case
Building a Meritocracy at Alghanim Industries
By:
Paul M. Healy, Susanna Gallani and Esel Çekin
| Building on his father’s legacy, Omar Alghanim (MBA 2002) had been working on strengthening a performance-driven culture based on meritocracy in the family business, Alghanim Industries. The task had been particularly challenging because of traditional Middle East... |
- June 2019
- Case
Airbnb, Etsy, Uber: Expanding from One to Many Millions of Customers
By:
Thales S. Teixeira
| By 2019, two-sided online platforms (or marketplaces) were among the highest-growing internet startups around. These marketplaces sought to match suppliers of assets for rent, physical products, or services with customers demanding them. Among the most notable... |
- Forthcoming
- Journal of Financial Economics
The Persistent Effect of Initial Success: Evidence from Venture Capital
By:
Ramana Nanda, Sampsa Samila and Olav Sorenson
| We use investment-level data to study performance persistence in venture capital (VC). Consistent with prior studies, we find that each additional IPO among a VC firm's first ten investments predicts as much as an 8% higher IPO rate on its subsequent investments,... |
- May 30, 2019
- Bloomberg Opinion
Twitter Is Showing More Ads Instead of Better Ideas
| A social media company that doesn’t know much about its users needs to work harder on its business model. |
- May 2019
- Teaching Material
SeatGeek
By:
Robert F. Higgins and Sarah Mehta
| Teaching Note for HBS No. 819-013. |
- May 2019
- Teaching Material
Sources of Capital for Black Entrepreneurs
By:
Steven Rogers, Stanley Onuoha and Kayin Barclay
| This note was written primarily for black entrepreneurs in order to help them raise capital. The second objective was to recognize the capital providers who are part of the solution to the problem of less than 2% of private equity capital and 1.7% of debt capital in... |
- May 2019
- Case
Canada Mortgage and Housing Corporation: “One CMHC” and Version 3.0
By:
Boris Groysberg and Sarah L. Abbott
| The case provides details on Canada Mortgage Housing Corporation’s strategy, organizational design, culture, and people practices and how they fit together to support CMHC’s goals. |
- 2019
- Working Paper
Going Digital: Implications for Firm Value and Performance
By:
Wilbur Chen and Suraj Srinivasan
| We examine the firm value and performance implications of the growing trend of non-technology (non-tech) companies adopting digital technologies such as artificial intelligence, big data, cloud computing, and machine learning. For the entire universe of U.S. publicly... |
- May 2019
- Case
Bill Cummings: The Cummings Way
By:
Christina R. Wing, Robert F. White and Michael Norris
| In 2019, Bill Cummings, founder of Cummings Properties and Cummings Foundation and billionaire signer of the Giving Pledge, is winding down his roles at his company and foundation. How should the management move the company forward? |
- May 2019
- Teaching Material
Amazon's HQ2 (C): Choices
By:
Karen Mills and Jan W. Rivkin
| Amazon’s initial request for proposals for a second headquarters (HQ2), released in September 2017, attracted great attention and, ultimately, proposals from 238 cities and regions in North America. This case discusses the company's decision to split its HQ2 between... |
- 2017
- Working Paper
Political Influence and Merger Antitrust Reviews
By:
Mihir N. Mehta, Suraj Srinivasan and Wanli Zhao
| Antitrust regulators play a critical role in protecting market competition. We examine whether firms can use the political process to opportunistically influence antitrust reviews of corporate merger transactions. We exploit the fact that in some mergers, acquirers... |