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All HBS Web
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- Faculty Publications (1,466)
- July 2023
- Case
HealthVerity: Real World Data and Evidence
By: Satish Tadikonda
Andrew Kress (CEO and founder) and his team had built a promising marketplace business at HealthVerity serving its core market in healthcare, with a focus on pharmaceutical R&D and services. Thus far, HealthVerity’s products had been unique to the pharma and pharma...
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Tadikonda, Satish. "HealthVerity: Real World Data and Evidence." Harvard Business School Case 824-019, July 2023.
- July 2023
- Article
Takahashi-Alexander Revisited: Modeling Private Equity Portfolio Outcomes Using Historical Simulations
By: Dawson Beutler, Alex Billias, Sam Holt, Josh Lerner and TzuHwan Seet
In 2001, Dean Takahashi and Seth Alexander of the Yale University Investments Office developed a deterministic model for estimating future cash flows and valuations for the Yale endowment’s private equity portfolio. Their model, which is simple and intuitive, is still...
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Beutler, Dawson, Alex Billias, Sam Holt, Josh Lerner, and TzuHwan Seet. "Takahashi-Alexander Revisited: Modeling Private Equity Portfolio Outcomes Using Historical Simulations." Journal of Portfolio Management 49, no. 7 (July 2023): 144–158.
- 2023
- Working Paper
The Market for Sharing Interest Rate Risk: Quantities and Asset Prices
By: Umang Khetan, Jane Li, Ioana Neamtu and Ishita Sen
We study the extent of interest rate risk sharing across the financial system using granular positions and transactions data in interest rate swaps. We show that pension and insurance (PF&I) sector emerges as a natural counterparty to banks and corporations: overall,...
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Keywords:
Interest Rates;
Investment Funds;
Banks and Banking;
Insurance;
Investment Banking;
Risk and Uncertainty
Khetan, Umang, Jane Li, Ioana Neamtu, and Ishita Sen. "The Market for Sharing Interest Rate Risk: Quantities and Asset Prices." Harvard Business School Working Paper, No. 24-052, February 2024.
- 2023
- Book
The State and Capitalism in China
By: Meg Rithmire, Margaret M. Pearson and Kellee S. Tsai
This element explains China's political economic evolution from state socialist economy to a reform era state capitalism model to a more politicized, risk management approach we call "party-state capitalism." We emphasize the internal and external sources of perceived...
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Keywords:
China's Political Economy;
State Capitalism;
State-business Relations;
State Ownership;
Economic Systems;
Government and Politics;
Governing Rules, Regulations, and Reforms;
Business and Government Relations;
China
Rithmire, Meg, Margaret M. Pearson, and Kellee S. Tsai. The State and Capitalism in China. Cambridge Elements, Elements in Politics and Society in East Asia. New York: Cambridge University Press, 2023.
- June 2023
- Supplement
Roche: ESG and Access to Healthcare
By: George Serafeim
In May 2022, Roche Group, one of the largest healthcare companies in the world, hosted its first ESG investor event focused exclusively on its efforts to impact access to healthcare. While Roche had recently set an ambitious goal to double the number of patients that...
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Keywords:
ESG (Environmental, Social, Governance) Performance;
Sustainable Finance;
Growth Strategy And Execution;
Sustainability Targets;
Impact Evaluation;
Healthcare Access;
Healthcare Innovation;
Healthcare Systems;
Healthcare Operations;
Finance;
Strategy;
Health Testing and Trials;
Health Care and Treatment;
Growth Management;
Measurement and Metrics;
Innovation Strategy;
Corporate Social Responsibility and Impact;
Health Industry;
Pharmaceutical Industry;
Switzerland;
North America;
Europe;
Asia;
Latin America;
Africa
Serafeim, George. "Roche: ESG and Access to Healthcare." Harvard Business School Multimedia/Video Supplement 123-713, June 2023.
- 2023
- Working Paper
Second- versus Third-party Audit Quality: Evidence from Global Supply Chain Monitoring
By: Maria R. Ibanez, Ashley Palmarozzo, Jodi L. Short and Michael W. Toffel
To capitalize on the superior credibility and flexibility and lower cost of external assessments, many global buyers are shifting from using their own employee (“second-party”) auditors to relying more heavily (or entirely) on third-party auditors to monitor and...
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Keywords:
Auditing;
Audit Quality;
Working Conditions;
Sustainability;
Empirical Operations;
Empirical Service Operations;
Sustainability Management;
Corporate Accountability;
Agency Theory;
Corporate Social Responsibility and Impact;
Supply Chain Management
Ibanez, Maria R., Ashley Palmarozzo, Jodi L. Short, and Michael W. Toffel. "Second- versus Third-party Audit Quality: Evidence from Global Supply Chain Monitoring." Working Paper, June 2023.
- June 2023 (Revised July 2023)
- Case
Social Media Background Screening at Fama Technologies
By: Joseph Pacelli, Jillian Grennan and Alexis Lefort
Fama Technologies is an online screening company that uses AI to analyze job applicants' publicly available online content for signs of risk and culture fit. The case opens with Ben Mones, founder and CEO, looking to secure funding from venture firms. He is running...
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Keywords:
Human Resources;
Recruitment;
Retention;
Selection and Staffing;
Organizational Culture;
Talent and Talent Management;
AI and Machine Learning;
Social Media;
Venture Capital;
Entrepreneurship;
United States
Pacelli, Joseph, Jillian Grennan, and Alexis Lefort. "Social Media Background Screening at Fama Technologies." Harvard Business School Case 123-010, June 2023. (Revised July 2023.)
- June 2023
- Supplement
Social Media Background Screening at Fama Technologies (B)
By: Joseph Pacelli, Jillian Grennan and Alexis Lefort
Fama Technologies is an online screening company that uses AI to analyze job applicants' publicly available online content for signs of risk and culture fit. The case opens with Ben Mones, founder and CEO, looking to secure funding from venture firms. He is running...
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Keywords:
Human Resources;
Recruitment;
Retention;
Selection and Staffing;
Organizational Culture;
Talent and Talent Management;
United States
Pacelli, Joseph, Jillian Grennan, and Alexis Lefort. "Social Media Background Screening at Fama Technologies (B)." Harvard Business School Supplement 123-086, June 2023.
- 2023
- Working Paper
Insufficiently Justified Disparate Impact: A New Criterion for Subgroup Fairness
By: Neil Menghani, Edward McFowland III and Daniel B. Neill
In this paper, we develop a new criterion, "insufficiently justified disparate impact" (IJDI), for assessing whether recommendations (binarized predictions) made by an algorithmic decision support tool are fair. Our novel, utility-based IJDI criterion evaluates false...
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Menghani, Neil, Edward McFowland III, and Daniel B. Neill. "Insufficiently Justified Disparate Impact: A New Criterion for Subgroup Fairness." Working Paper, June 2023.
- June 2023
- Case
Investing in the Climate Transition at Neuberger Berman
By: George Serafeim and Benjamin Maletta
By mid-2023, Neuberger Berman (NB), an active asset manager, had grown its assets under management to about half a trillion dollars and took pride in its client centricity and innovative spirit. Responding to client demand for investment products that integrated...
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Keywords:
Carbon Emissions;
Sustainability;
Decarbonization;
Performance;
Risk Assessment;
Opportunities;
Environmental Sustainability;
Carbon Footprint;
Business Analysis;
Investing;
Regulation;
Asset Management;
Investment Strategy;
Climate Change;
Transition;
Analysis;
Product Positioning;
Strategy;
Investment Portfolio;
Financial Services Industry;
Energy Industry
- 3 Jun 2023
- Talk
Health Care Innovation Opportunities Created by COVID-19 and How to Make Them Happen
The crush of patients created by COVID enabled the creation of sites for care outside the traditional hospital, such as retail pharmacies, ambulatory surgery centers, urgent care centers, telemedicine, and wireless sensors. Public policy mirrored these changes by...
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Keywords:
Policy;
Health Pandemics;
Health Care and Treatment;
Innovation and Invention;
Health Industry;
Insurance Industry
Herzlinger, Regina E. "Health Care Innovation Opportunities Created by COVID-19 and How to Make Them Happen." Harvard Business School Alumni Reunion, Boston, MA, June 3, 2023. (Link to cases described in this talk.)
- 2023
- Working Paper
Design-Based Confidence Sequences: A General Approach to Risk Mitigation in Online Experimentation
By: Dae Woong Ham, Michael Lindon, Martin Tingley and Iavor Bojinov
Randomized experiments have become the standard method for companies to evaluate the performance of new products or services. In addition to augmenting managers’ decision-making, experimentation mitigates risk by limiting the proportion of customers exposed to...
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Keywords:
Performance Evaluation;
Research and Development;
Analytics and Data Science;
Consumer Behavior
Ham, Dae Woong, Michael Lindon, Martin Tingley, and Iavor Bojinov. "Design-Based Confidence Sequences: A General Approach to Risk Mitigation in Online Experimentation." Harvard Business School Working Paper, No. 23-070, May 2023.
- 2023
- Working Paper
Auditing Predictive Models for Intersectional Biases
By: Kate S. Boxer, Edward McFowland III and Daniel B. Neill
Predictive models that satisfy group fairness criteria in aggregate for members of a protected class, but do not guarantee subgroup fairness, could produce biased predictions for individuals at the intersection of two or more protected classes. To address this risk, we...
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Boxer, Kate S., Edward McFowland III, and Daniel B. Neill. "Auditing Predictive Models for Intersectional Biases." Working Paper, June 2023.
- June 2023 (Revised February 2024)
- Case
Betting on Green Steel
By: George Serafeim and Sofoklis Melissovas
'Betting on Green Steel' traces the innovative journey embarked upon by a group of MBA students who have set out to conceive a novel steelmaker that pioneers the production of green steel. The ensemble is confronted with a series of critical choices that will shape the...
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Keywords:
Decarbonization;
Sustainability Management;
Technology;
Industrialization;
Climate Risk;
Energy;
Entrepreneurship;
Environmental Sustainability;
Technology Adoption;
Climate Change;
Innovation and Invention;
Business Strategy;
Family Business;
Steel Industry;
Middle East;
India
Serafeim, George, and Sofoklis Melissovas. "Betting on Green Steel." Harvard Business School Case 123-101, June 2023. (Revised February 2024.)
- June 2023
- Article
Can Purpose Foster Stakeholder Trust in Corporations
By: Ranjay Gulati and Franz Wohlgezogen
As part of institutional changes toward more responsible capitalism, firms increasingly articulate a purpose beyond simply profit as a central tenet of their governance. Management scholarship has noted the potential advantages of such purpose-focus for stakeholder...
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Keywords:
Stakeholder Management;
Moral Identity;
Mission and Purpose;
Trust;
Corporate Governance;
Business and Stakeholder Relations
Gulati, Ranjay, and Franz Wohlgezogen. "Can Purpose Foster Stakeholder Trust in Corporations." Strategy Science 8, no. 2 (June 2023): 270–287.
- June 2023
- Article
Regulatory Limits to Risk Management
By: Ishita Sen
Variable annuities, the largest liability of U.S. life insurers, are investment products containing long-dated minimum return guarantees. I show that guarantees with similar economic risks are treated differently by regulation and these differences impact insurers’...
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Keywords:
Interest Rate Risk;
Variable Annuities;
Capital Regulation;
Reinsurance;
Derivatives;
Risk Management;
Interest Rates;
Governing Rules, Regulations, and Reforms
Sen, Ishita. "Regulatory Limits to Risk Management." Review of Financial Studies 36, no. 6 (June 2023): 2175–2223.
- June 2023
- Teaching Note
Taiwan Semiconductor Manufacturing Company Limited: Global Leadership in Chipmaking
By: William C. Kirby and Noah B. Truwit
Teaching Note for HBS Case No. 321-126. The general purpose of this case is to explore the evolving nature of business relations across the Taiwan strait, focusing on the prominence of Taiwan's high-tech industry. After the legendary founder of Taiwan Semiconductor...
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- June 2023
- Article
The Salary Taboo: Privacy Norms and the Diffusion of Information
By: Zoë Cullen and Ricardo Perez-Truglia
The limited diffusion of salary information has implications for labor markets, such as wage discrimination policies and collective bargaining. Access to salary information is believed to be limited and unequal, but there is little direct evidence on the sources of...
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Keywords:
Search Costs;
Privacy;
Norms;
Compensation;
Financial Industry;
Field Experiment;
Knowledge Dissemination;
Equality and Inequality;
Gender;
Compensation and Benefits;
Societal Protocols
Cullen, Zoë, and Ricardo Perez-Truglia. "The Salary Taboo: Privacy Norms and the Diffusion of Information." Art. 104890. Journal of Public Economics 222 (June 2023).
- June 2023
- Case
Verve Therapeutics: Taking DNA Editing to Heart
By: Shikhar Ghosh and Shweta Bagai
Verve Therapeutics, a public biotech company based in Boston, created a novel approach to addressing cardiovascular disease (CVD) - a leading cause of deaths globally. The company's approach was a single shot treatment to permanently lower cholesterol, thus reducing...
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Keywords:
AI;
Genetic Engineering;
Medicine;
Health Care and Treatment;
Genetics;
Innovation Strategy;
Business and Stakeholder Relations;
Medical Specialties;
Innovation and Invention;
Entrepreneurship;
Biotechnology Industry
Ghosh, Shikhar, and Shweta Bagai. "Verve Therapeutics: Taking DNA Editing to Heart." Harvard Business School Case 823-113, June 2023.
- 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).