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- May 2022
- Article
When Does Product Liability Risk Chill Innovation? Evidence from Medical Implants
By: Alberto Galasso and Hong Luo
Liability laws designed to compensate for harms caused by defective products may also affect innovation. We examine this issue by exploiting a major quasi-exogenous increase in liability risk faced by U.S. suppliers of polymers used to manufacture medical implants....
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- April 2022
- Case
Conflicts of Interest at Bell Bank
By: Jonas Heese
In 2013, two employees debated whether to blow the whistle on their employer, Bell Bank, after completing an internal review that revealed undisclosed conflicts of interest. Bell Bank’s Asset Management business disproportionately invested clients’ money in Bell Bank’s...
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Keywords:
Whistleblower;
Whistleblowing;
Mutual Funds;
Conflicts Of Interest;
Decision Making;
Decisions;
Judgments;
Ethics;
Moral Sensibility;
Values and Beliefs;
Finance;
Financial Institutions;
Banks and Banking;
Financial Management;
Investment;
Investment Funds;
Governance;
Corporate Accountability;
Corporate Disclosure;
Corporate Governance;
Governance Compliance;
Governance Controls;
Policy;
Law;
Legal Liability;
Social Psychology;
Motivation and Incentives;
Perception;
Perspective;
Trust;
Financial Services Industry;
North and Central America;
United States
- April 2022
- Supplement
PG&E and the First Climate Change Bankruptcy
By: Stuart C. Gilson
- April 2022
- Article
AI Insurance: How Liability Insurance Can Drive the Responsible Adoption of Artificial Intelligence in Health Care
By: Ariel Dora Stern, Avi Goldfarb and Timo Minssen
Despite enthusiasm about the potential to apply artificial intelligence (AI) to medicine and health care delivery, adoption remains tepid, even for the most compelling technologies. In this article, the authors focus on one set of challenges to AI adoption: those...
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- February 2021
- Case
The Tulsa Massacre and the Call for Reparations
By: Mihir Desai, Ruth Page, Suzanne Antoniou and Leanne Fan
How should historic social injustices be addressed? Survivors of the 1921 Tulsa Massacre and their descendants, including Representative Regina Goodwin of Tulsa, believe they should be addressed through reparations and have consequently continued to push the government...
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Keywords:
Costs And Consequences;
Decisions;
Judgment And Decision-making;
Lawsuit;
Leading Change;
Conflict Resolution;
Perspective Taking;
Prejudice;
Bias;
Reparations;
Decision Making;
Decision Choices and Conditions;
Cost vs Benefits;
Judgments;
Race;
Ethics;
Fairness;
Moral Sensibility;
Values and Beliefs;
Conflict Management;
Governance;
Corporate Accountability;
Corporate Governance;
Governing Rules, Regulations, and Reforms;
Policy;
Government and Politics;
Government Legislation;
History;
Lawsuits and Litigation;
Legal Liability;
Mission and Purpose;
Corporate Social Responsibility and Impact;
Motivation and Incentives;
Civil Society or Community;
Social Issues;
Oklahoma;
Tulsa;
United States
- December 2020 (Revised February 2021)
- Supplement
The Tulsa Massacre and the Call for Reparations
By: Mihir A. Desai and Suzanne Antoniou
How should historic social injustices be addressed? Survivors of the 1921 Tulsa Massacre and their descendants, including Representative Regina Goodwin of Tulsa, believe they should be addressed through reparations and have consequently continued to push the government...
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Keywords:
Cost vs Benefits;
Decision Choices and Conditions;
Decisions;
Judgments;
Race;
Fairness;
Moral Sensibility;
Values and Beliefs;
Corporate Accountability;
Corporate Governance;
Policy;
Governing Rules, Regulations, and Reforms;
Government Legislation;
Government and Politics;
Government Administration;
Lawsuits and Litigation;
Legal Liability;
Leading Change;
Mission and Purpose;
Corporate Social Responsibility and Impact;
Conflict and Resolution;
Conflict Management;
Loss;
Motivation and Incentives;
Perspective;
Prejudice and Bias;
Civil Society or Community;
Social Issues;
Welfare;
Tulsa;
Oklahoma;
United States
- December 2020 (Revised February 2021)
- Teaching Note
The Tulsa Massacre and the Call for Reparations
By: Mihir A. Desai and Suzanne Antoniou
How should historic social injustices be addressed? Survivors of the 1921 Tulsa Massacre and their descendants, including Representative Regina Goodwin of Tulsa, believe they should be addressed through reparations and have consequently continued to push the government...
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Keywords:
Cost vs Benefits;
Decision Choices and Conditions;
Decisions;
Judgments;
Race;
Fairness;
Moral Sensibility;
Values and Beliefs;
Corporate Accountability;
Corporate Governance;
Policy;
Governing Rules, Regulations, and Reforms;
Government Legislation;
Government and Politics;
Government Administration;
Lawsuits and Litigation;
Legal Liability;
Leading Change;
Mission and Purpose;
Corporate Social Responsibility and Impact;
Conflict and Resolution;
Conflict Management;
Loss;
Motivation and Incentives;
Perspective;
Prejudice and Bias;
Civil Society or Community;
Social Issues;
Welfare;
Tulsa;
Oklahoma;
United States
- December 2020 (Revised September 2021)
- Case
PG&E and the First Climate Change Bankruptcy
By: Stuart C. Gilson and Sarah L. Abbott
In early 2020, the California-based utility PG&E filed a second amended plan of reorganization. PG&E had filed for Chapter 11 bankruptcy in the face of more than $30 billion of legal claims brought against it for its alleged role in causing California wildfires. The...
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- October 2020 (Revised February 2021)
- Case
The Tulsa Massacre and the Call for Reparations
By: Mihir A. Desai, Suzanne Antoniou and Leanne Fan
How should historic social injustices be addressed? Survivors of the 1921 Tulsa Massacre and their descendants, including Representative Regina Goodwin of Tulsa, believe they should be addressed through reparations and have consequently continued to push the government...
View Details
Keywords:
Cost vs Benefits;
Decision Choices and Conditions;
Decisions;
Judgments;
Race;
Fairness;
Moral Sensibility;
Values and Beliefs;
Corporate Accountability;
Corporate Governance;
Policy;
Governing Rules, Regulations, and Reforms;
Government Legislation;
Government and Politics;
Government Administration;
Lawsuits and Litigation;
Legal Liability;
Leading Change;
Mission and Purpose;
Corporate Social Responsibility and Impact;
Conflict and Resolution;
Conflict Management;
Loss;
Motivation and Incentives;
Perspective;
Prejudice and Bias;
Civil Society or Community;
Social Issues;
Tulsa;
Oklahoma;
United States
- Article
The Changing Landscape of Auditors' Liability
By: Colleen Honigsberg, Shivaram Rajgopal and Suraj Srinivasan
We provide a comprehensive overview of shareholder litigation against auditors since the passage of the Private Securities Litigation Reform Act (PSLRA). The number of lawsuits per year has declined, dismissals have increased, and settlements in recent years have...
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- December 2019 (Revised January 2020)
- Background Note
Background on Insider Trading Liability
By: Trevor Fetter, Eugene F. Soltes and Grant Wahlquist
There are numerous restrictions against trading on material, nonpublic information (MNPI)—typically called “insider trading.” This note describes the limitations facing managers and investors as enforced civilly and criminally within the United States.
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- September 2019
- Article
Contingent Capital Trigger Effects: Evidence from Liability Management Exercises
By: Boris Vallée
This paper investigates the so called liability management exercises by European banks, which bear comparable effects to triggering contingent capital. I first explore the determinants of these exercises. I then study market reactions to these operations as well as...
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- January 2019 (Revised May 2019)
- Case
When Trolls Attack: Carbonite vs. Oasis Research
By: Lauren H. Cohen, Umit G. Gurun, Scott Duke Kominers and Sarah Mehta
This case, set in October 2017, follows Danielle Sheer, general counsel for Carbonite, as she defends the company against claims of patent infringement. It provides a broad overview of the U.S. patent system and explores the impact that non-practicing entities...
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- November 2017
- Case
Loss Prevention at Mac's Convenience Stores (A)
By: Francesca Gino, Katherine DeCelles and Olivia Hull
Faced with a persistent robbery problem at his convenience store company, Sean Sportun, security and loss prevention manager at Mac’s of Central Canada, looked to standardize safety measures and devise a new way of preventing employee injury. But as a 32-year old with...
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- November 2017
- Supplement
Loss Prevention at Mac's Convenience Stores (B)
By: Francesca Gino, Katherine DeCelles and Olivia Hull
Supplement to HBS No. 918-001. The case describes the inventive approaches to retail crime prevention that Sean Sportun, security and loss prevention manager at Mac’s Convenience Stores, implemented between 2007 and 2017.
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- August 2017
- Article
Tort Reform and Innovation
By: Alberto Galasso and Hong Luo
Current academic and policy debates focus on the impact of tort reforms on physicians’ behavior and medical costs. This paper examines whether these reforms also affect incentives to develop new technologies. We develop a theoretical model that predicts that the impact...
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- June 2017 (Revised September 2021)
- Case
Sales Misconduct at Wells Fargo Community Bank
Set in early 2017, this case examines widespread sales misconduct at Wells Fargo Community Bank. Wells Fargo's governance and controls are described in the lead up to the September 2016 announcement that Wells Fargo had settled with regulators for $185 million in...
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Keywords:
Corporate Governance;
Governance Controls;
Governing Rules, Regulations, and Reforms;
Governing and Advisory Boards;
Executive Compensation;
Lawsuits and Litigation;
Crisis Management;
Mission and Purpose;
Organizational Design;
Business and Community Relations;
Business and Government Relations;
Crime and Corruption;
Business Organization;
Business Model;
Ethics;
Corporate Accountability;
Governance Compliance;
Policy;
Compensation and Benefits;
Resignation and Termination;
Laws and Statutes;
Legal Liability;
Business or Company Management;
Risk Management;
Business Processes;
Organizational Culture;
Organizational Structure;
Failure;
Agency Theory;
Business and Shareholder Relations;
Business and Stakeholder Relations;
Risk and Uncertainty;
Salesforce Management;
Public Opinion;
Banking Industry;
North and Central America
- Article
The Error at the Heart of Corporate Leadership
By: Joseph L. Bower and Lynn S. Paine
Agency theory, a new model of governance promulgated by academic economists in the 1970s, is behind the idea that corporate managers should make shareholder value their primary concern and that boards should ensure they do. The theory regards shareholders as owners of...
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- June 2015
- Article
The Organization of Enterprise in Japan
By: Tom Nicholas
Recent research reveals that the joint stock corporation was not a superior form of business organization in many countries historically. In Japan, however, it played a more fundamental role. Between 1896 and 1939 joint stock enterprises accounted for 44 percent of...
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Keywords:
Japan;
Legal Form;
Enterprise;
Modernization;
Business Organization;
Entrepreneurship;
Japan
- Article
Liability Structure in Small-Scale Finance
By: Fenella Carpena, Shawn Cole, Jeremy Shapiro and Bilal Zia
Microfinance, the provision of small individual and business loans, has experienced dramatic growth, reaching over 150 million borrowers worldwide. Much of the success of microfinance has been attributed to attempts to overcome the challenges of information asymmetries...
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