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- All HBS Web (147)
- Faculty Publications (46)
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- 24 Oct 2016
- Research & Ideas
Bernie Madoff Explains Himself
evening for several months. Madoff, a renowned stockbroker turned fraudster, conducted the phone calls from FCI Butner, a medium-security federal correctional institution in North Carolina. At the time, he was serving the third year of a...
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- 01 Nov 2017
- What Do You Think?
What Are the Real Lessons of the Wells Fargo Case?
to the financial institution in penalties, fines, and loss of trust began to mount. Months before the fraud was disclosed, Tim Sloan, then president and COO (and now CEO), was quoted as saying: “People are our competitive advantage, so we...
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- February 2016
- Case
Banking and Politics in Antebellum New York
By: David Moss and Colin Donovan
After a long period of solid Democratic control, Whigs secured a majority of seats in the New York State Assembly in 1837, the same year that a major financial panic had crippled the banking system and shaken public confidence in the state's governance. The next year,...
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- 2012
- Working Paper
Clear and Present Danger: Planning and New Venture Survival Amid Political and Civil Violence
By: Shon Hiatt and Wesley Sine
Although entrepreneurs constitute a key economic driving force for many emerging economies, they often face unstable environments due to the failure of governments to maintain civil and political order. Yet, we know very little about how environments characterized by...
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Keywords:
Entrepreneurship;
Business Startups;
Developing Countries and Economies;
Government and Politics;
Crime and Corruption;
Balance and Stability;
Strategic Planning
Hiatt, Shon, and Wesley Sine. "Clear and Present Danger: Planning and New Venture Survival Amid Political and Civil Violence." Harvard Business School Working Paper, No. 12-086, March 2012.
- 07 Jul 2008
- Research & Ideas
Innovation Corrupted: How Managers Can Avoid Another Enron
companies can adapt key aspects of the private-equity governance model to ensure that they fulfill their oversight responsibilities. With respect to avoiding the perverse financial incentives that corrupted Enron, my book makes specific...
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- March 2006 (Revised February 2017)
- Case
Rwanda: National Economic Transformation
By: Michael E. Porter, Kaia Miller, Michael McCreless, Kjell Carlsson, Jem Hudson and Haviland Sheldahl-Thomason
Set in the year 2004, when Rwanda commemorated the 10th anniversary of a genocide that had claimed the lives of over 10% of its population. Focuses on the formulation of an economic strategy to rebuild the economy and its institutions after the devastation. Rwanda, one...
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Keywords:
Crime and Corruption;
Developing Countries and Economies;
Policy;
Government Administration;
Crisis Management;
Strategy;
Rwanda
Porter, Michael E., Kaia Miller, Michael McCreless, Kjell Carlsson, Jem Hudson, and Haviland Sheldahl-Thomason. "Rwanda: National Economic Transformation." Harvard Business School Case 706-491, March 2006. (Revised February 2017.)
- 28 Nov 2023
- Book
Economic Growth Draws Companies to Asia. Can They Handle Its Authoritarian Regimes?
authoritarian regime organizes its institutions or informal practices to serve the productive interests of business, and mutual endangerment, whereby economic elites and political elites are mutually entwined in View Details
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by Sean Silverthorne
- 27 Jun 2005
- Research & Ideas
Asian and American Leadership Styles: How Are They Unique?
to revitalize a firm look for superstars; they seek outgoing personalities. Corporate governance in the West means oversight from regulators, boards of directors, even institutional shareholders. While Asia now has most of these...
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by D. Quinn Mills
- Teaching Interest
Overview
Globalization and Emerging Markets (Elective Course)
The world order has changed significantly in the last two decades. The influence of western-style varieties of capitalism has been challenged by new forms of capitalism that rely less on private enterprise and on the...
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Keywords:
Globalization;
Strategy;
Macroeconomics;
State Capitalism;
Political Economy;
Emerging Markets;
Multinational Firms and Management;
Global Strategy;
Economics;
Energy Industry;
Retail Industry;
Mining Industry;
Agriculture and Agribusiness Industry;
Banking Industry;
China;
Africa;
Dubai;
Pakistan;
India;
Brazil;
Russia;
Cuba;
Argentina
- 12 Aug 2020
- Research & Ideas
Why Investors Often Lose When They Sue Their Financial Adviser
School Working Knowledge. HBS Digital Media Producer Amelia Kunhardt produced the video interview. [Image: kuri2000 ] Related Reading The Startling Percentage of Financial Advisors with Misconduct Records A Politician's Investment Portfolio Might Tip Off View Details
- 18 Nov 2002
- Research & Ideas
Where Morals and Profits Meet: The Corporate Value Shift
period we are in today, had witnessed a dramatic loss of confidence in business and American institutions more generally. In 1968, 70 percent of the public thought business tried to strike a fair balance between profits and the public...
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by Carla Tishler
- Research Summary
Capitalism as a System of Governance
My research interest is in further exploration of the analytic utility of an original conception of capitalism as an indirect, three level system of governance for the economic relationships within political entities, and mostly within nation states. This three level...
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- March 2016 (Revised May 2021)
- Case
Michael Milken: The Junk Bond King
By: Tom Nicholas and Matthew G. Preble
Michael Milken, an investment banker who dominated the junk bond market in the 1980s, was sentenced to jail in 1990 after pleading guilty to a number of securities and tax-related felonies. In the preceding decade, Milken had helped usher in a new wave of leveraged buy...
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Keywords:
Junk Bonds;
High-yield Bonds;
Financial Innovation;
Shareholder Value;
Bonds;
Capital;
Capital Structure;
Cost of Capital;
Crime and Corruption;
Entrepreneurship;
Ethics;
Finance;
Investment Banking;
Leveraged Buyouts;
Mergers and Acquisitions;
Ownership;
Private Equity;
Restructuring;
United States
Nicholas, Tom, and Matthew G. Preble. "Michael Milken: The Junk Bond King." Harvard Business School Case 816-050, March 2016. (Revised May 2021.)
- June 2020
- Case
Recovering Trust After Corporate Misconduct at Wells Fargo
By: Suraj Srinivasan and Jonah S. Goldberg
The case describes widespread misconduct at Wells Fargo Community Bank in the period leading up to 2017 and the company’s subsequent attempts to improve internal controls, company culture, and corporate governance. The case examines the potential causes of large scale...
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Keywords:
Corporate Misconduct;
Internal Controls;
Banks and Banking;
Crime and Corruption;
Corporate Governance;
Organizational Culture;
Governance Compliance;
Management Systems;
Organizational Change and Adaptation;
Performance Improvement;
Governing and Advisory Boards
Srinivasan, Suraj, and Jonah S. Goldberg. "Recovering Trust After Corporate Misconduct at Wells Fargo." Harvard Business School Case 120-128, June 2020.
- 23 Aug 2021
- Research & Ideas
Why White-Collar Crime Spiked in America After 9/11
and financial institution fraud cases fell by 16 percent. White-collar crime spikes At the same time, however, fraud was running rampant. For example, the areas Nguyen studied saw a 40 percent increase in the rate of wire fraud....
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by Jay Fitzgerald
- 27 Feb 2017
- Research & Ideas
Reputation is Vital to Survival in Turbulent Markets
businesses over the long run: companies such as Tata Group, founded in India in 1868, or Mexican bakery Grupo Bimbo, started in 1945. What sets these firms apart? What can leaders in developed markets learn from them? In the recent working paper Overcoming View Details
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by Sean Silverthorne
- 30 Apr 2020
- Book
Fighting Climate Change Requires a New Capitalism
Rebecca Henderson spent her young adult years living two lives. At work, she preached the risks of resisting change to MBA students at the Massachusetts Institute of Technology, drawing on lessons she learned while watching factories close as a management consultant....
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- 28 May 2019
- Research & Ideas
Investor Lawsuits Against Auditors Are Falling, and That's Bad News for Capital Markets
liability standards, requiring plaintiffs such as institutional investors to prove that auditors knew, or should have known, their clients’ financial statements contained errors. In both decisions, Rule 10b-5 lost its bite. Investors are...
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- September 2020
- Case
An Introduction to Money Laundering: 'The Hunter'
By: Eugene Soltes, Guilhem Ros and Grace Liu
Money laundering schemes disguise the criminal origins of an estimated 2% to 5% of the world’s gross domestic product. Money laundering not only enables criminals to escape detection, but may also be used to finance further criminal operations including terrorism. This...
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Keywords:
Crime and Corruption;
Accounting Audits;
Financial Reporting;
Financial Institutions;
Banks and Banking;
Cross-Cultural and Cross-Border Issues;
Governance Controls;
International Relations;
National Security;
Ethics;
Accounting Industry;
Banking Industry;
United States;
Europe
Soltes, Eugene, Guilhem Ros, and Grace Liu. "An Introduction to Money Laundering: 'The Hunter'." Harvard Business School Case 121-011, September 2020.
- October 2003 (Revised January 2004)
- Case
The 2001 Crisis in Argentina: An IMF-Sponsored Default? (A)
By: Rafael M. Di Tella and Ingrid Vogel
At the end of 2001, Argentina's economy and society both appeared on the verge of collapse. Furious about controls imposed on the convertibility of their bank deposits into cash (the "corralito") and huge proposed government spending cuts amidst high unemployment and...
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Keywords:
Financial Crisis;
Economic Slowdown and Stagnation;
Banks and Banking;
Problems and Challenges;
Decision Choices and Conditions;
Currency Exchange Rate;
Economy;
Government Administration;
Crime and Corruption;
Argentina
Di Tella, Rafael M., and Ingrid Vogel. "The 2001 Crisis in Argentina: An IMF-Sponsored Default? (A)." Harvard Business School Case 704-004, October 2003. (Revised January 2004.)