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All HBS Web
(2,546)
- Faculty Publications (468)
- September 2023 (Revised January 2024)
- Case
AI21 Labs in 2023: Strategy for Generative AI
By: David Yoffie, Orna Dan and Elena Corsi
Israeli generative artificial intelligence company AI21 Labs was founded in 2017 to realize the vision of true machine intelligence. It sought to reinvent writing and reading and in 2020 it launched Wordtune, an app using GenAI software to offer alternate text...
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Keywords:
Decision Making;
AI and Machine Learning;
Innovation Strategy;
Growth and Development Strategy;
Applications and Software;
Competitive Strategy;
Technology Industry;
Israel
Yoffie, David, Orna Dan, and Elena Corsi. "AI21 Labs in 2023: Strategy for Generative AI." Harvard Business School Case 724-383, September 2023. (Revised January 2024.)
- 2023
- Article
On Minimizing the Impact of Dataset Shifts on Actionable Explanations
By: Anna P. Meyer, Dan Ley, Suraj Srinivas and Himabindu Lakkaraju
The Right to Explanation is an important regulatory principle that allows individuals to request actionable explanations for algorithmic decisions. However, several technical challenges arise when providing such actionable explanations in practice. For instance, models...
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Meyer, Anna P., Dan Ley, Suraj Srinivas, and Himabindu Lakkaraju. "On Minimizing the Impact of Dataset Shifts on Actionable Explanations." Proceedings of the Conference on Uncertainty in Artificial Intelligence (UAI) 39th (2023): 1434–1444.
- September 2023
- Article
Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement
By: George Serafeim and Aaron Yoon
We investigate whether ESG ratings predict future ESG news and the associated market reactions. We find that the consensus rating predicts future news, but its predictive ability diminishes for firms with large disagreement between raters. Relation between news and...
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Keywords:
ESG;
ESG (Environmental, Social, Governance) Performance;
ESG Disclosure;
ESG Ratings;
ESG Reporting;
ESG Disclosure Metrics;
Sustainability;
Investments;
Disagreement;
Rating Disagreement;
Ratings;
Environmental Sustainability;
Social Issues;
Corporate Social Responsibility and Impact;
Performance;
News;
Investment;
Financial Markets;
Stocks;
Price
Serafeim, George, and Aaron Yoon. "Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement." Special Issue on RAST 2022 Conference. Review of Accounting Studies 28, no. 3 (September 2023): 1500–1530.
- 2023
- Working Paper
Toward Decision-Useful Carbon Information
By: Gunther Glenk
Companies are increasingly viewed as crucial drivers for timely decarbonization. Current accounting practices for greenhouse gas (GHG) emissions, however, often leave corporate carbon disclosures and abatement obscured. Here I introduce a taxonomy for assuring the...
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Keywords:
Carbon Emissions;
Decarbonization;
Carbon Accounting;
Net-zero Emissions;
Greenhouse Gas Emissions;
Environment;
Environmental Impact;
Management;
Sustainable Cities;
Corporate Disclosure;
Environmental Accounting;
Environmental Management;
Climate Change;
Accounting Industry;
Consulting Industry;
Energy Industry;
Auto Industry;
Construction Industry;
Transportation Industry;
Financial Services Industry;
Green Technology Industry;
Industrial Products Industry;
Information Technology Industry;
Manufacturing Industry;
Public Administration Industry;
Steel Industry;
Utilities Industry;
Europe;
North America;
South America;
Africa;
Asia
Glenk, Gunther. "Toward Decision-Useful Carbon Information." Harvard Business School Working Paper, No. 24-026, September 2023. (TRR 266 Accounting for Transparency Working Paper Series, No. 121, May 2023.)
- 2023
- Working Paper
Channeled Attention and Stable Errors
We develop a framework for assessing when somebody will eventually notice that she has
a misspecified model of the world, premised on the idea that she neglects information that
she deems—through the lens of her misconceptions—to be irrelevant. In doing so, we...
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Gagnon-Bartsch, Tristan, Matthew Rabin, and Joshua Schwartzstein. "Channeled Attention and Stable Errors." Working Paper, August 2023. (Revise and Resubmit, Quarterly Journal of Economics.)
- August 2023
- Article
Do Rating Agencies Behave Defensively for Higher Risk Issuers?
By: Samuel B. Bonsall IV, Kevin Koharki, Pepa Kraft, Karl A. Muller III and Anywhere Sikochi
We examine whether rating agencies act defensively toward issuers with a higher likelihood of default. We find that agencies' qualitative soft rating adjustments are more accurate as issuers' default risk grows, as evidenced by the adjustments leading to lower Type I...
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Keywords:
Credit Rating Agencies;
Soft Rating Adjustments;
Default;
Credit;
Performance Evaluation;
Measurement and Metrics;
Financial Institutions;
Risk Management
Bonsall, Samuel B., IV, Kevin Koharki, Pepa Kraft, Karl A. Muller III, and Anywhere Sikochi. "Do Rating Agencies Behave Defensively for Higher Risk Issuers?" Management Science 69, no. 8 (August 2023): 4864–4887.
- 2023
- Working Paper
Do Third-Party Guarantors Reassure Foot Soldiers?
By: Natalia Garbiras-Díaz, Michael Weintraub, Leopoldo Fergusson, Juana Catalina Garcia Duque and Laia Balcells
Since the end of the Cold War, international third parties such as the United Nations (UN) have become frequent guarantors of peace agreements. Existing studies document that third parties provide assurances that help maintain peace, yet these studies nearly...
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Keywords:
United Nations;
Colombia;
Peacemaking;
Peace Process;
Peace;
Civil Unrest;
Civil Society;
Political Leadership;
Policy;
Civil Society or Community;
Governance;
Government and Politics;
Economy;
Economic Growth;
Latin America;
South America;
Colombia
Garbiras-Díaz, Natalia, Michael Weintraub, Leopoldo Fergusson, Juana Catalina Garcia Duque, and Laia Balcells. "Do Third-Party Guarantors Reassure Foot Soldiers?" Working Paper, August 2023.
- July 2023
- Teaching Note
Belden and Digital Transformation: From Product Sales to Solutions Sales
Teaching Note for HBS Case No. 823-002. Belden manufactures devices such as switches, cables, adapters, and connectors. Faced with market changes, the firm initiated a new Enhanced Solutions Delivery (ESD) initiative. In November 2022 executives are evaluating the...
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- July 2023 (Revised July 2023)
- Background Note
Generative AI Value Chain
By: Andy Wu and Matt Higgins
Generative AI refers to a type of artificial intelligence (AI) that can create new content (e.g., text, image, or audio) in response to a prompt from a user. ChatGPT, Bard, and Claude are examples of text generating AIs, and DALL-E, Midjourney, and Stable Diffusion are...
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Keywords:
AI;
Artificial Intelligence;
Model;
Hardware;
Data Centers;
AI and Machine Learning;
Applications and Software;
Analytics and Data Science;
Value
Wu, Andy, and Matt Higgins. "Generative AI Value Chain." Harvard Business School Background Note 724-355, July 2023. (Revised July 2023.)
- 2023
- Chapter
Private Equity Financing
The goal of this chapter is to understand the common practices of PE funds’ structure and funding. The chapter covers three topics. First, it gives an overview of the traditional private equity (PE) financing structure; then, it discusses other investment vehicles like...
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Ivashina, Victoria. "Private Equity Financing." Chap. 4 in Private Equity and Entrepreneurial Finance. 1, edited by B. Espen Eckbo, Gordon M. Phillips, and Morten Sorensen, 139–160. Handbook of the Economics of Corporate Finance. Elsevier BV, 2023.
- June 2023
- Article
Gaining Organizational Adoption: Strategically Pacing the Deployment of Digital Innovations
By: Rebecca Karp
Scholars have long suggested that to foster adoption for their innovative products and services, entrepreneurs should engage with customers to better understand their unmet needs. Yet, customers frequently reside in organizations, and organizational members may not be...
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Keywords:
Entrepreneurship And Strategy;
Digital Innovation;
Healthcare;
Work And Organizations;
Organizational Adoption;
B2B;
Customers;
Technology Adoption;
Innovation Strategy;
Organizational Change and Adaptation
Karp, Rebecca. "Gaining Organizational Adoption: Strategically Pacing the Deployment of Digital Innovations." Academy of Management Journal 66, no. 3 (June 2023): 773–796.
- June 2023
- Article
When Does Uncertainty Matter? Understanding the Impact of Predictive Uncertainty in ML Assisted Decision Making
By: Sean McGrath, Parth Mehta, Alexandra Zytek, Isaac Lage and Himabindu Lakkaraju
As machine learning (ML) models are increasingly being employed to assist human decision
makers, it becomes critical to provide these decision makers with relevant inputs which can
help them decide if and how to incorporate model predictions into their decision...
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McGrath, Sean, Parth Mehta, Alexandra Zytek, Isaac Lage, and Himabindu Lakkaraju. "When Does Uncertainty Matter? Understanding the Impact of Predictive Uncertainty in ML Assisted Decision Making." Transactions on Machine Learning Research (TMLR) (June 2023).
- May 2023
- Course Overview Note
Space: Public and Commercial Economics (SPACE)
SPACE is a course with two goals: to use the tools of economics to better understand the rapidly evolving space sector, and to train the next generation of commercial space leaders. We pursue these goals through a systematic study of the growing space economy,...
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Weinzierl, Matthew C. "Space: Public and Commercial Economics (SPACE)." Harvard Business School Course Overview Note 723-062, May 2023.
- May 2023 (Revised June 2023)
- Case
Novartis (A): Reimagining Medicine
By: Ramon Casadesus-Masanell, Claudio Feser, Karolin Frankenberger and David Redaschi
This case unfolds around the first-ever approved personalized cancer treatment, how Novartis wrapped it into a new business model design, and how Novartis scaled it. Novartis — one of the largest pharmaceutical companies in the world — is, among other ventures,...
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Keywords:
Health Care and Treatment;
Business Model;
Leadership;
Pharmaceutical Industry;
Switzerland
Casadesus-Masanell, Ramon, Claudio Feser, Karolin Frankenberger, and David Redaschi. "Novartis (A): Reimagining Medicine." Harvard Business School Case 723-443, May 2023. (Revised June 2023.)
- May 2023 (Revised June 2023)
- Supplement
Novartis (B): Reimagining Medicine
By: Ramon Casadesus-Masanell, Claudio Feser, Karolin Frankenberger and David Redaschi
This case unfolds around the first-ever approved personalized cancer treatment, how Novartis wrapped it into a new business model design, and how Novartis scaled it. Novartis — one of the largest pharmaceutical companies in the world — is, among other ventures,...
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Keywords:
Health Care and Treatment;
Business Model;
Production;
Business Strategy;
Pharmaceutical Industry
Casadesus-Masanell, Ramon, Claudio Feser, Karolin Frankenberger, and David Redaschi. "Novartis (B): Reimagining Medicine." Harvard Business School Supplement 723-444, May 2023. (Revised June 2023.)
- May 2023 (Revised June 2023)
- Supplement
Novartis (C): Reimagining Medicine
By: Ramon Casadesus-Masanell, Claudio Feser, Karolin Frankenberger and David Redaschi
This case unfolds around the first-ever approved personalized cancer treatment, how Novartis wrapped it into a new business model design, and how Novartis scaled it. Novartis — one of the largest pharmaceutical companies in the world — is, among other ventures,...
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Keywords:
Health Testing and Trials;
Health Care and Treatment;
Business Model;
Problems and Challenges;
Pharmaceutical Industry;
Switzerland
Casadesus-Masanell, Ramon, Claudio Feser, Karolin Frankenberger, and David Redaschi. "Novartis (C): Reimagining Medicine." Harvard Business School Supplement 723-445, May 2023. (Revised June 2023.)
- 2023
- Working Paper
Detecting Structural Breaks in Inflation Trends: A High-Frequency Approach
By: Alberto Cavallo and Gaston Garcia Zavaleta
We combine standard structural-break methods with high-frequency data to identify shifts in inflation trends. We use this approach to study the inflation dynamics of 25 countries from January 2022 to April 2023 and find evidence of a broad-based slowdown in about half...
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Cavallo, Alberto, and Gaston Garcia Zavaleta. "Detecting Structural Breaks in Inflation Trends: A High-Frequency Approach." Working Paper, May 2023. (Preliminary draft.)
- May–June 2023
- Article
Need for Speed: The Impact of In-Process Delays on Customer Behavior in Online Retail
By: Santiago Gallino, Nil Karacaoglu and Antonio Moreno
The impact of delays has been widely studied in various offline services. The focus of this study is online services, and we explore the impact of in-process delays—measured by website speed—on customer behavior. We leverage novel retail and website speed data to...
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Keywords:
Online Retail;
Quasi-experiments;
Abandonment;
Synthetic Control;
E-commerce;
Internet and the Web;
Consumer Behavior;
Policy;
Retail Industry
Gallino, Santiago, Nil Karacaoglu, and Antonio Moreno. "Need for Speed: The Impact of In-Process Delays on Customer Behavior in Online Retail." Operations Research 71, no. 3 (May–June 2023): 876–894.
- 2023
- Working Paper
Operational Consequences of Customer Interaction Design: Evidence From Last-Mile Delivery Services
By: Natalie Epstein, Santiago Gallino and Antonio Moreno
Problem definition: Communication and customer interaction design have been used as elements to improve customer satisfaction and future purchasing behavior, but little is known about how they can be used as levers to improve operational...
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Epstein, Natalie, Santiago Gallino, and Antonio Moreno. "Operational Consequences of Customer Interaction Design: Evidence From Last-Mile Delivery Services." Working Paper, May 2023.
- May 2023
- Article
Where Sales Technology (Really) Helps
Interest in Sales Enablement (SE), the catch-all term for attempts to increase sales productivity with AI and other technologies, is driven by multiple factors. One is the declining costs of the tools. Also, selling is now data-hungry work and not just in tech sectors....
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