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- Faculty Publications (68)
- 2009
- Working Paper
Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets?
By: Shawn A. Cole, Thomas Sampson and Bilal Zia
Financial development is critical for growth, but its micro-determinants are not well understood. We test leading theories of low demand for financial services in emerging markets, combining novel survey evidence from Indonesia and India with a field experiment. We...
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Keywords:
Banks and Banking;
Saving;
Knowledge Acquisition;
Emerging Markets;
Motivation and Incentives;
Financial Services Industry;
India;
Indonesia
Cole, Shawn A., Thomas Sampson, and Bilal Zia. "Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets?" Harvard Business School Working Paper, No. 09-117, April 2009. (Revised October 2009, September 2010, October 2010.)
- March 2009
- Journal Article
Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market
By: Boris Groysberg, Ashish Nanda and M. Julia Prats
Our paper contributes to the studies on the relationship between workers' human capital and their decision to become self-employed as well as their probability to survive as entrepreneurs. Analysis from a panel data set of research analysts in investment banks over...
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Keywords:
Entrepreneurship;
Investment Banking;
Retention;
Human Capital;
Performance Effectiveness;
Banking Industry
Groysberg, Boris, Ashish Nanda, and M. Julia Prats. "Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market." Journal of Financial Transformation 25 (March 2009): 95–106.
- February 2009
- Article
Suspended in Self-Spun Webs of Significance: A Rhetorical Model of Institutionalization and Institutionally Embedded Agency
By: Sandy Edward Green, Yuan Li and Nitin Nohria
This article employs rhetorical theory to reconceptualize institutionalization as change in argument structure. As a state, institutionalization is embodied in the structure of argument used to justify a practice at a given point in time. As a process,...
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Green, Sandy Edward, Yuan Li, and Nitin Nohria. "Suspended in Self-Spun Webs of Significance: A Rhetorical Model of Institutionalization and Institutionally Embedded Agency." Academy of Management Journal 52, no. 1 (February 2009): 11–36.
- May 2009
- Article
Asymmetric Information Effects on Loan Spreads
The paper estimates the cost arising from information asymmetry between the lead bank and members of the lending syndicate. In a lending syndicate, the lead bank retains only a fraction of the loan but acts as the intermediary between the borrower and the syndicate...
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Keywords:
Cost;
Banks and Banking;
Financing and Loans;
Interest Rates;
Capital;
Investment Portfolio;
Credit;
Diversification;
Risk and Uncertainty
Ivashina, Victoria. "Asymmetric Information Effects on Loan Spreads." Journal of Financial Economics 92, no. 2 (May 2009): 300–319.
- Article
How Actors Change Institutions: Towards a Theory of Institutional Entrepreneurship
By: Julie Battilana, Bernard Leca and Eva Boxenbaum
As well as review the literature on the notion of institutional entrepreneurship introduced by Paul DiMaggio in 1988, we propose a model of the process of institutional entrepreneurship. We first present theoretical and definitional issues associated with the concept...
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Keywords:
Change;
Corporate Entrepreneurship;
Framework;
Research;
Theory;
Organizations;
Management Practices and Processes
Battilana, Julie, Bernard Leca, and Eva Boxenbaum. "How Actors Change Institutions: Towards a Theory of Institutional Entrepreneurship." Academy of Management Annals 3 (2009): 65–107.
- Article
In Microfinance, Clients Must Come First
By: Srikant M. Datar, Marc J. Epstein and Kristi Yuthas
In the debate over whether microfinance works, few microfinance institutions articulate what, exactly, their ultimate goals are and how, exactly, they will achieve them. The authors cut through the confusion by mapping a clear theory of change for microfinance. If the...
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Keywords:
Business Startups;
Customer Focus and Relationships;
Social Entrepreneurship;
Microfinance;
Goals and Objectives;
Success;
Social Enterprise;
Poverty
Datar, Srikant M., Marc J. Epstein, and Kristi Yuthas. "In Microfinance, Clients Must Come First." Stanford Social Innovation Review 6, no. 1 (Winter 2008).
- 2008
- Book
On Competition
By: M. E. Porter
Competition is one of society's most powerful forces for making things better in many fields of human endeavor. The study of competition and the creation of value, in their full richness, have preoccupied me for several decades. Competition is pervasive, whether it...
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Porter, M. E. On Competition. Updated and Expanded Ed. Boston: Harvard Business School Publishing, 2008.
- December 2008
- Article
Style Investing and Institutional Investors
By: Kenneth A. Froot and Melvyn Teo
This paper explores institutional investors' trades in stocks grouped by style and the relationship of these trades with equity market returns. It aggregates transactions drawn from a large universe of approximately $6 trillion of institutional funds. To analyze style...
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Keywords:
Forecasting and Prediction;
Behavioral Finance;
Stocks;
Investment Return;
Market Transactions;
Performance Expectations;
Personal Characteristics;
Financial Services Industry
Froot, Kenneth A., and Melvyn Teo. "Style Investing and Institutional Investors." Journal of Financial and Quantitative Analysis 43, no. 4 (December 2008): 883–906. (Revised from: Equity Style Returns and Institutional Investor Flows, Harvard Business School Working Paper No. 04-048, June 2004.)
- 7 Aug 2008
- Conference Presentation
Bringing the Individual and Community Levels Back in Institutional Theory, PDW Session on "Institutions Across Social Spheres: Bridging Levels of Analysis in Research and Conceptualization
By: Julie Battilana
Keywords:
Theory
Battilana, Julie. Bringing the Individual and Community Levels Back in Institutional Theory, PDW Session on "Institutions Across Social Spheres: Bridging Levels of Analysis in Research and Conceptualization." Paper presented at the Academy of Management Annual Meeting, Anaheim, CA, August 07, 2008.
- 2008
- Working Paper
New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability
By: Dale F. Gray, Robert C. Merton and Zvi Bodie
This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of...
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Gray, Dale F., Robert C. Merton, and Zvi Bodie. "New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability." Harvard Business School Working Paper, No. 09-015, August 2008. (Revised.)
- 2008
- Working Paper
Fixing Market Failures or Fixing Elections? Agricultural Credit in India
By: Shawn A. Cole
This paper integrates theories of political budget cycles with theories of tactical electoral redistribution to test for political capture in a novel way. Studying banks in India, I find that government-owned bank lending tracks the electoral cycle, with agricultural...
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Keywords:
Agribusiness;
Banks and Banking;
Financing and Loans;
Political Elections;
State Ownership;
Banking Industry;
India
Cole, Shawn A. "Fixing Market Failures or Fixing Elections? Agricultural Credit in India." Harvard Business School Working Paper, No. 09-001, July 2008.
- 2008
- Working Paper
Consumer Demand for Prize-Linked Savings: A Preliminary Analysis
By: P. Tufano, Nick Maynard and Jan-Emmanuel De Neve
This paper reports on a small-scale survey of the potential American demand for prize-linked savings accounts, an account that awards prizes as part of the saving product's return. In October 2006, Centra Credit Union launched a prize-linked savings pilot. As part of...
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Keywords:
Saving;
Income;
Consumer Behavior;
Personal Finance;
Investment Return;
Banks and Banking;
Clarksville
Tufano, P., Nick Maynard, and Jan-Emmanuel De Neve. "Consumer Demand for Prize-Linked Savings: A Preliminary Analysis." Harvard Business School Working Paper, No. 08-061, February 2008.
- 2007
- Working Paper
Acting Globally but Thinking Locally? The Influence of Local Communities on Organizations
By: Christopher Marquis and Julie Battilana
We develop an institutional theory of how local communities continue to matter for organizations, and why community factors are particularly important in a global age. Since globalization has taken center stage in both practitioner and academic circles, research has...
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Keywords:
Geographic Location;
Local Range;
Globalization;
Organizational Change and Adaptation;
Business and Community Relations;
Power and Influence
Marquis, Christopher, and Julie Battilana. "Acting Globally but Thinking Locally? The Influence of Local Communities on Organizations." Harvard Business School Working Paper, No. 08-034, November 2007.
- 2007
- Working Paper
New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability
By: Dale F. Gray, Robert C. Merton and Zvi Bodie
This paper proposes a new approach to improve the way central banks can analyze and manage the financial risks of a national economy. It is based on the modern theory and practice of contingent claims analysis (CCA), which is successfully used today at the level of...
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Gray, Dale F., Robert C. Merton, and Zvi Bodie. "New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability." NBER Working Paper Series, No. 13607, November 2007.
- April 2006
- Module Note
Asset Allocation: A Half-Course Module Note
By: Luis M. Viceira
Provides an overview of the main ideas and structure of a 15-session module on long-term asset allocation designed for MBA graduate students and investment professionals. This module is taught as part of a full-length, 30-session elective class on investment management...
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Keywords:
Asset Management;
Investment;
Decisions;
Management;
Management Analysis, Tools, and Techniques;
Teaching;
Theory
Viceira, Luis M. "Asset Allocation: A Half-Course Module Note." Harvard Business School Module Note 206-133, April 2006.
- Jul 2004 - 2004
- Conference Presentation
Foundations for a Theory of Institutional Entrepreneurship: Solving the Paradox of Embedded Agency
By: Julie Battilana
- July/August 2004
- Article
Stakeholders and Environmental Management Practices: An Institutional Framework
By: Magali Delmas and Michael W. Toffel
Despite burgeoning research on companies' environmental strategies and environmental management practices, it remains unclear why some firms adopt environmental management practices beyond regulatory compliance. This paper leverages institutional theory by proposing...
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Keywords:
Strategy;
Management Practices and Processes;
Environmental Management;
Adoption;
Business and Stakeholder Relations;
Organizational Structure;
Factories, Labs, and Plants;
Competition;
Framework;
Governance Compliance;
Governing Rules, Regulations, and Reforms
Delmas, Magali, and Michael W. Toffel. "Stakeholders and Environmental Management Practices: An Institutional Framework." Business Strategy and the Environment 13, no. 4 (July/August 2004): 209–222.
- Apr 2004 - 2004
- Conference Presentation
Foundations for a Theory of Institutional Entrepreneurship: Solving the Paradox of Embedded Agency
By: Julie Battilana
- 2002
- Book
Organizations, Policy and the Natural Environment: Institutional and Strategic Perspectives
By: Andrew J. Hoffman and Marc Ventresca
This book brings together emerging perspectives from organization theory and management, environmental sociology, international regime studies, and the social studies of science and technology to provide a starting point for discipline-based studies of environmental...
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Hoffman, Andrew J., and Marc Ventresca, eds. Organizations, Policy and the Natural Environment: Institutional and Strategic Perspectives. Stanford University Press, 2002.
- January 1996 (Revised December 2005)
- Case
First Community Bank (A)
First Community Bank, a bank-within-a-bank at Bank of Boston, was established in 1990 as a unique venture to serve urban communities. By 1995 it has achieved profitability but must manage relationships with the mainstream at Bank of Boston, serve as a change agent and...
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Keywords:
Banks and Banking;
Business Ventures;
Business and Community Relations;
Agency Theory;
Change Management;
Leadership;
Balanced Scorecard;
Mission and Purpose;
Organizational Structure;
Problems and Challenges;
Banking Industry;
Boston
Kanter, Rosabeth M. "First Community Bank (A)." Harvard Business School Case 396-202, January 1996. (Revised December 2005.)