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- November 2022
- Article
The Psychosocial Value of Employment: Evidence from a Refugee Camp
By: Reshmaan Hussam, Erin M. Kelley, Gregory Lane and Fatima Zahra
Employment may be important to wellbeing for reasons beyond its role as an income source. This paper presents a causal estimate of the psychosocial value of employment in refugee camps in Bangladesh. We involve 745 individuals in a field experiment with three arms: a...
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Hussam, Reshmaan, Erin M. Kelley, Gregory Lane, and Fatima Zahra. "The Psychosocial Value of Employment: Evidence from a Refugee Camp." American Economic Review 112, no. 11 (November 2022): 3694–3724.
- October 2022
- Case
Sustainable Finance at Itau BBA
By: George Serafeim, Maria Loumioti and Benjamin Maletta
As of August 2022, the Itau BBA had structured dozens of sustainability linked bonds, which made future interest payments a function of the borrower meeting a target for a sustainability metric, and had solidified its reputation as a pioneer of sustainable finance in...
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Keywords:
Sustainable Finance;
Corporate Social Responsibility;
Environmental Sustainability;
Growth Strategy;
Debt Contracting;
Performance Metrics;
Risk Assessment;
ESG (Environmental, Social, Governance) Performance;
Financial Instruments;
Risk Management;
Debt Securities;
Measurement and Metrics;
Banking Industry;
Pulp and Paper Industry;
Latin America
Serafeim, George, Maria Loumioti, and Benjamin Maletta. "Sustainable Finance at Itau BBA." Harvard Business School Case 123-036, October 2022.
- October 2022
- Background Note
Note on Cyberattacks and Regulatory Regimes
Describes common types of cyberattacks on enterprises and their costs, as well as the fragmentary regulatory regimes through which U.S. states and regulatory agencies at the start of 2021 attempted to encourage disclosure of cyberattacks and to pursue enforcement...
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Keywords:
Regulations;
Regulatory Agencies;
Cyberattacks;
Governance;
Corporate Disclosure;
Cybersecurity;
Information Industry;
Information Technology Industry;
Health Industry;
Financial Services Industry;
United States
Nagle, Frank, George A. Riedel, William R. Kerr, and David Lane. "Note on Cyberattacks and Regulatory Regimes." Harvard Business School Background Note 723-392, October 2022.
- October 2022 (Revised January 2024)
- Case
mPharma: Scaling Access to Affordable Primary Care in Africa
By: Regina E. Herzlinger and Ben Creo
mPharma hopes to scale up to create the largest pan-African healthcare company ever to provide much-needed primary care in retail pharmacies; a reliable, fairly priced supply of drugs; and micro-insurance for drugs. They must prioritize launching a telemedicine...
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Keywords:
Africa;
Pharmaceutical Companies;
Pharmacy Benefit Manager;
Health Care;
Health Care And Treatment;
Health Care Costs;
Health Care Delivery;
Health Care Entrepreneurship;
Telehealth;
Health Equity;
Corporate Strategy;
Social Entrepreneurship;
Equity;
Growth and Development Strategy;
Expansion;
Product Launch;
Customer Value and Value Chain;
Social Enterprise;
Multinational Firms and Management;
Pharmaceutical Industry;
Health Industry;
Africa
Herzlinger, Regina E., and Ben Creo. "mPharma: Scaling Access to Affordable Primary Care in Africa." Harvard Business School Case 323-033, October 2022. (Revised January 2024.)
- June 29, 2022
- Other Article
Strategic Complexity? Using Experiments to Understand and Overcome Obfuscation
By: Michael Luca, Ginger Zhe Jin and Daniel Martin
Credit card companies must decide what product features to disclose to consumers, such as payment schedules, penalties, and fees--and also whether to present them clearly or bury them in the fine print. Firms face similar choices in settings ranging from privacy...
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Keywords:
Obfuscation;
Credit Cards;
Strategic Incentives;
Complexity;
Agreements and Arrangements;
Customers;
Consumer Behavior;
Financial Services Industry
Luca, Michael, Ginger Zhe Jin, and Daniel Martin. "Strategic Complexity? Using Experiments to Understand and Overcome Obfuscation." Management Science Review (June 29, 2022). (Summary of "Complex Disclosure," Management Science, May 2022.)
- May 2022
- Case
Rawbank's Illico Cash: Can 'Fast Money' Overcome Cash Dependency in the DRC?
By: Lauren Cohen and Grace Headinger
Thomas de Dreux-Brézé, the Head of Strategy and Project Management at Rawbank Congo in the Democratic Republic of the Congo (DRC), was perplexed as he reviewed annual adoption rates for the bank’s launch of Illico Cash 2.0. As the bank’s mobile money app, Illico Cash...
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Keywords:
Fintech;
Inflation;
Deflation;
Rural;
Urban;
Emerging Market;
Mobile Technology;
Finance;
Money;
Inflation and Deflation;
Business Growth and Maturation;
Decision Choices and Conditions;
Demographics;
Developing Countries and Economies;
Corporate Entrepreneurship;
Behavioral Finance;
Currency;
Banks and Banking;
Commercial Banking;
Financial Strategy;
Rural Scope;
Urban Scope;
Innovation Strategy;
Emerging Markets;
Network Effects;
Consumer Behavior;
Mobile and Wireless Technology;
Technology Adoption;
Banking Industry;
Financial Services Industry;
Technology Industry;
Congo, Democratic Republic of the
Cohen, Lauren, and Grace Headinger. "Rawbank's Illico Cash: Can 'Fast Money' Overcome Cash Dependency in the DRC?" Harvard Business School Case 222-084, May 2022.
- April 2022
- Case
Melio: Modernizing Payments for Small Business
By: David S. Scharfstein, Dean Xu and Danielle Golan
Scharfstein, David S., Dean Xu, and Danielle Golan. "Melio: Modernizing Payments for Small Business." Harvard Business School Case 222-076, April 2022.
- April 2022
- Teaching Note
Banorte Móvil: Data-Driven Mobile Growth
By: Ayelet Israeli and Carla Larangeira
In mid-2019, Carlos Hank was deliberating over the results for Banorte Móvil—the mobile application for Banorte, Mexico’s most profitable and second-largest financial institution. Hank, who had been appointed as Banorte´s Chairman of the Board in January 2015, had...
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- April 2022
- Supplement
Mastercard Labs (B)
When Ajaypal (Ajay) Banga became the CEO of Mastercard in 2010, digital technologies were on the rise, and innovation needed to become a strategic imperative at the company. Banga tasked Garry Lyons, who had joined Mastercard through the 2009 acquisition of Orbiscom,...
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Keywords:
Organizational Behavior;
Culture;
Transformation;
Organizational Culture;
Culture Change;
Organizational Adaptation;
Organizational Effectiveness;
Alignment;
Leadership;
Leadership Development;
Innovation;
Innovation Ecosystems;
Diversity;
Collaboration;
Co-creation;
Learning Organizations;
Empowerment;
Ecosystem;
Agility;
Prototype;
Experiment;
Partnerships;
Operating Model;
Risk Management;
Digital Transformation;
Metrics;
Payments;
Financial Industry;
Financial Inclusion;
Ambidexterity;
Corporate Innovation;
Innovation Lab;
Accelerator;
Start-up;
Fintech
Hill, Linda A., Sunil Gupta, Emily Tedards, and Julia Kelley. "Mastercard Labs (B)." Harvard Business School Supplement 422-081, April 2022.
- April 2022
- Case
Mastercard: Creating a World Beyond Cash
In late 2021, Mastercard CEO Michael Miebach and Chairman and former CEO Ajaypal “Ajay” Banga considered how Mastercard could best position itself for continued success in the years to come. Since Mastercard’s initial public offering in 2006, the company had grown and...
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Keywords:
Technological Innovation;
Leadership;
Leading Change;
Organizational Culture;
Business Strategy;
Change;
Change Management;
Money;
Cash;
Credit;
Financial Institutions;
Banks and Banking;
Central Banking;
Financial Instruments;
Credit Cards;
Financial Markets;
Globalization;
Innovation and Invention;
Innovation and Management;
Innovation Strategy;
Leadership Style;
Competitive Advantage;
Corporate Strategy;
Diversification;
Information Technology;
Banking Industry;
Financial Services Industry;
North and Central America;
United States;
New York (state, US)
Gupta, Sunil, Linda A. Hill, Julia Kelley, and Emily Tedards. "Mastercard: Creating a World Beyond Cash." Harvard Business School Case 522-001, April 2022.
- April 2022 (Revised May 2022)
- Case
Mastercard Labs (A)
When Ajaypal (Ajay) Banga became the CEO of Mastercard in 2010, he shifted the company’s competitive focus from card networks to cash itself. Mastercard’s new vision of a “World Beyond Cash” distilled into a three-pronged framework: Grow the core business, Diversify...
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Keywords:
Organizational Behavior;
Culture;
Culture Change;
Organizational Adaptation;
Organizational Effectiveness;
Alignment;
Leadership;
Leadership Development;
Innovation;
Innovation Ecosystems;
Ecosystem;
Diversity;
Collaboration;
Co-creation;
Learning Organizations;
Empowerment;
Globalization;
Agility;
Prototype;
Experiment;
Partnerships;
Operating Model;
Risk Management;
Metrics;
Payments;
Financial Inclusion;
Financial Industry;
Ambidexterity;
Corporate Innovation;
Innovation Lab;
Digital Transformation;
Digital Strategy;
Credit Cards;
Innovation Leadership;
Organizational Culture
Hill, Linda A., Sunil Gupta, Emily Tedards, and Julia Kelley. "Mastercard Labs (A)." Harvard Business School Case 422-080, April 2022. (Revised May 2022.)
- April 2022 (Revised May 2022)
- Case
Mastercard Labs (A) (Abridged)
When Ajaypal (Ajay) Banga became the CEO of Mastercard in 2010, he shifted the company’s competitive focus from card networks to cash itself. Mastercard’s new vision of a “World Beyond Cash” distilled into a three-pronged framework: Grow the core business, Diversify...
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Keywords:
Organizational Behavior;
Culture;
Organizational Culture;
Culture Change;
Organizational Adaptation;
Organizational Effectiveness;
Alignment;
Leadership;
Leadership Development;
Innovation;
Innovation Ecosystems;
Diversity;
Collaboration;
Co-creation;
Learning Organizations;
Empowerment;
Ecosystem;
Agility;
Prototype;
Experiment;
Partnerships;
Operating Model;
Risk Management;
Metrics;
Payments;
Financial Inclusion;
Financial Industry;
Ambidexterity;
Corporate Innovation;
Innovation Lab;
Accelerator;
Start-up;
Intrapreneurship;
Competitive Strategy;
Business Model;
Technological Innovation;
Growth and Development Strategy;
Digital Transformation
Hill, Linda A., Sunil Gupta, Emily Tedards, and Julia Kelley. "Mastercard Labs (A) (Abridged)." Harvard Business School Case 422-082, April 2022. (Revised May 2022.)
- March 2022
- Supplement
Pakistan Rising: Bazaar's Growth Story (B)
By: Paul A. Gompers and Gamze Yucaoglu
The case opens in January 2022 as Hamza Jawaid and Saad Jangda, co-founders of Bazaar technologies (Bazaar), the Pakistani high growth B2B e-commerce marketplace, are looking over the performance of the newly launched “buy now, play later” feature. The traction looks...
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Keywords:
B2B;
Business Model;
Emerging Markets;
For-Profit Firms;
Strategy;
Digital Platforms;
Information Technology;
Value Creation;
Globalization;
Competition;
Expansion;
Profit;
Resource Allocation;
Diversification;
Corporate Strategy;
Pakistan
Gompers, Paul A., and Gamze Yucaoglu. "Pakistan Rising: Bazaar's Growth Story (B)." Harvard Business School Supplement 822-099, March 2022.
- 2022
- Working Paper
Stock Market Stimulus
By: Robin Greenwood, Toomas Laarits and Jeffrey Wurgler
We study the stock market effects of the arrival of the three rounds of “stimulus checks” to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of...
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Keywords:
Stock Market;
COVID-19 Pandemic;
Fiscal Stimulus;
Stimulus Payments;
Impact;
Stocks;
System Shocks;
Price;
Spending;
United States;
Hong Kong;
China
Greenwood, Robin, Toomas Laarits, and Jeffrey Wurgler. "Stock Market Stimulus." NBER Working Paper Series, No. 29827, March 2022. (Revised November 2022.)
- January–February 2022
- Article
Mobilizing the U.S. Military’s TRICARE Program for Value-Based Care: A Report From the Defense Health Board
By: Robert S. Kaplan, Paul R. Schaettle, Vivian S. Lee, Michael D. Parkinson, Gregory H. Gorman and Michael-Anne Browne
The U.S. Military Health System spends about $50 billion annually through its TRICARE health plans to provide care to 9.6 million active duty service members, retirees, and their families. TRICARE, historically, has used the predominant U.S. fee-for-service payment...
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Kaplan, Robert S., Paul R. Schaettle, Vivian S. Lee, Michael D. Parkinson, Gregory H. Gorman, and Michael-Anne Browne. "Mobilizing the U.S. Military’s TRICARE Program for Value-Based Care: A Report From the Defense Health Board." Military Medicine 187, nos. 1-2 (January–February 2022): 12–16.
- December 2021
- Case
Should I Stay or Should I Go? Assessing Risk in Carlos Ghosn's International Escape
By: Eugene F. Soltes, Grace Liu and Muneeb Ahmed
In 2018, automotive tycoon Carlos Ghosn was arrested in Japan on financial misreporting charges, followed later by charges of improper payments and misappropriation of funds. Over a year later, still awaiting trial, Ghosn organized his escape from house arrest in Tokyo...
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Keywords:
Crime and Corruption;
Decision Making;
Cost vs Benefits;
Decision Choices and Conditions;
Ethics;
Cross-Cultural and Cross-Border Issues;
Law;
Courts and Trials;
Rights;
Risk and Uncertainty;
Auto Industry;
Japan
Soltes, Eugene F., Grace Liu, and Muneeb Ahmed. "Should I Stay or Should I Go? Assessing Risk in Carlos Ghosn's International Escape." Harvard Business School Case 122-051, December 2021.
- December 2021
- Case
The Instant Payment Mandate: The Central Bank of Brazil and Pix
By: Lauren Cohen and Spencer C. N. Hagist
João M. P. De Mello and his team at the Central Bank of Brazil are preparing a move that would seek to tilt the scales in favor of financial inclusion for the entire country. The innovation at hand is the unprecedented nation-wide instant payment scheme: Pix. The fruit...
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Cohen, Lauren, and Spencer C. N. Hagist. "The Instant Payment Mandate: The Central Bank of Brazil and Pix." Harvard Business School Case 222-053, December 2021.
- 2021
- Working Paper
Friends and Family Money: P2P Transfers and Financially Fragile Consumers
By: Tetyana Balyuk and Emily Williams
We assess the impact that real time money transfer technology has on consumer outcomes, particularly during periods of financial fragility. We do this by developing a new data set that documents use of Zelle—the most widely used P2P money transfer technology in the...
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Keywords:
P2P Money Transfers;
Real Time Payments;
Fintech;
Finance;
Information Technology;
Personal Finance;
Financial Condition
Balyuk, Tetyana, and Emily Williams. "Friends and Family Money: P2P Transfers and Financially Fragile Consumers." Working Paper, November 2021.
- October 26, 2021
- Article
It's Time to Knock Down the Walled Gardens of the Payments System
By: Christian Catalini and Scott Duke Kominers
Catalini, Christian, and Scott Duke Kominers. "It's Time to Knock Down the Walled Gardens of the Payments System." American Banker 186, no. 205 (October 26, 2021).
- October 2021 (Revised February 2023)
- Case
Ant Group (A)
By: Krishna G. Palepu, Feng Zhu, Susie L. Ma and Kerry Herman
In 2004, Chinese e-commerce company Alibaba created Alipay, an app to facilitate payments on its e-commerce sites. As Alibaba grew, so did Alipay, until Alipay spawned its own ecosystem of financial technology products and services under the name of Ant Group. By 2020,...
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Keywords:
Payment Systems;
Information Technology;
Value Creation;
Network Effects;
Strategy;
Disruptive Innovation;
Initial Public Offering;
Technology Industry;
Financial Services Industry;
China
Palepu, Krishna G., Feng Zhu, Susie L. Ma, and Kerry Herman. "Ant Group (A)." Harvard Business School Case 122-003, October 2021. (Revised February 2023.)