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- Faculty Publications (63)
- 2017
- Working Paper
Innovation Policies
By: Ramana Nanda and Matthew Rhodes-Kropf
Past work has shown that failure tolerance by principals has the potential to stimulate innovation, but has not examined how this affects which projects principals will start. We demonstrate that failure tolerance has an equilibrium price ― in terms of an investor's...
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Keywords:
Innovation;
Investing;
Abandonment Option;
Failure Tolerance;
Venture Capital;
Attitudes;
Investment;
Failure;
Innovation and Invention
Nanda, Ramana, and Matthew Rhodes-Kropf. "Innovation Policies." Harvard Business School Working Paper, No. 13-038, October 2012. (Revised March 2017. forthcoming in the AiSM Special issue on Entrepreneurship, Innovation and Platforms.)
- Article
Employee Selection as a Control System
By: Dennis Campbell
Theories from the economics, management control, and organizational behavior literatures predict that when it is difficult to align incentives by contracting on output, aligning preferences via employee selection may provide a useful alternative. This study...
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Keywords:
Management Systems;
Governance Controls;
Employees;
Selection and Staffing;
Motivation and Incentives;
Decision Making;
Business Model
Campbell, Dennis. "Employee Selection as a Control System." Journal of Accounting Research 50, no. 4 (September 2012): 931–966.
- 2012
- Working Paper
Risky Business: The Impact of Property Rights on Investment and Revenue in the Film Industry
By: Venkat Kuppuswamy and Carliss Y. Baldwin
Our paper tests a key prediction of property rights theory, specifically, that agents will respond to marginal incentives embedded in property rights when making non-contractible, revenue-enhancing investments (Grossman and Hart, 1986; Hart and Moore, 1990). Using rich...
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Keywords:
Property Rights;
Property;
Rights;
Investment;
Contracts;
Revenue;
Motivation and Incentives;
Motion Pictures and Video Industry;
United States
Kuppuswamy, Venkat, and Carliss Y. Baldwin. "Risky Business: The Impact of Property Rights on Investment and Revenue in the Film Industry." Harvard Business School Working Paper, No. 13-007, July 2012. (Revised August 2012.)
- March 2012
- Article
The Incentive Bubble
By: Mihir Desai
The past three decades have seen American capitalism quietly transformed by a single, powerful idea—that financial markets are a suitable tool for measuring performance and structuring compensation. Stock instruments for managers, high-powered incentive contracts for...
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Keywords:
Economic Systems;
Financial Markets;
Executive Compensation;
Motivation and Incentives;
Corporate Governance;
Equality and Inequality;
Human Capital;
United States
Desai, Mihir. "The Incentive Bubble." Harvard Business Review 90, no. 3 (March 2012).
- 2012
- Working Paper
Relational Contracts and Organizational Capabilities
By: R. Gibbons and R. Henderson
A large literature identifies unique organizational capabilities as a potent source of competitive advantage, yet our knowledge of why capabilities fail to diffuse more rapidly-particularly in situations in which competitors apparently have strong incentives to adopt...
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Keywords:
Competitive Advantage;
Motivation and Incentives;
Management Practices and Processes;
Contracts;
Competency and Skills;
Relationships;
Complexity
Gibbons, R., and R. Henderson. "Relational Contracts and Organizational Capabilities." Harvard Business School Working Paper, No. 12-061, January 2012.
- Article
Shadow of the Contract: How Contract Structure Shapes Inter-Firm Dispute Resolution
By: Fabrice Lumineau and Deepak Malhotra
This paper investigates how contract structure influences inter-firm dispute resolution processes and outcomes by examining a unique dataset consisting of over 150,000 pages of documents relating to 102 business disputes. We find that the level of contractual detail...
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Keywords:
Governance Controls;
Contracts;
Rights;
Negotiation;
Conflict and Resolution;
Power and Influence
Lumineau, Fabrice, and Deepak Malhotra. "Shadow of the Contract: How Contract Structure Shapes Inter-Firm Dispute Resolution." Strategic Management Journal 32, no. 5 (May 2011): 532–555.
- Article
Trust and Collaboration in the Aftermath of Conflict: The Effects of Contract Structure
By: Deepak Malhotra and Fabrice Lumineau
Leveraging a longitudinal dataset concerning 102 inter-firm disputes, we evaluate the effects of contract structure on trust and on the likelihood of continued collaboration. We theoretically refine and empirically extend prior research by (a) distinguishing between...
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Malhotra, Deepak, and Fabrice Lumineau. "Trust and Collaboration in the Aftermath of Conflict: The Effects of Contract Structure." Academy of Management Journal 54, no. 5 (October 2011): 981–998.
- fall 2010
- Article
Lawsuits and Empire: On the Enforcement of Sovereign Debt in Latin America
By: Faisal Z. Ahmed, Laura Alfaro and Noel Maurer
The re-occurring phenomenon of sovereign default has prompted an enormous theoretical and empirical literature. Most of this research has focused on why countries ever chose to pay their debts (or why private creditors ever expected repayment). The problem originates...
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Keywords:
Lawsuits and Litigation;
Insolvency and Bankruptcy;
Sovereign Finance;
Borrowing and Debt;
Debt Securities;
Motivation and Incentives;
Markets;
Equity;
Banking Industry;
Latin America
Ahmed, Faisal Z., Laura Alfaro, and Noel Maurer. "Lawsuits and Empire: On the Enforcement of Sovereign Debt in Latin America." Law and Contemporary Problems 73, no. 4 (fall 2010): 39–46.
- April 2010
- Case
Bill Nichol Negotiates with Walmart: Hard Bargains over Soft Goods (A)
By: James K. Sebenius and Ellen Knebel
CEO Bill Nichol must somehow negotiate a surprise ultimatum from Walmart, his largest customer, about his largest and most profitable product line: “We're dropping it.” Among its hosiery products, the Kentucky Derby Hosiery Co. produces and sells a branded line of...
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Keywords:
Customer Relationship Management;
Crisis Management;
Negotiation Tactics;
Conflict Management;
Apparel and Accessories Industry;
North America
Sebenius, James K., and Ellen Knebel. "Bill Nichol Negotiates with Walmart: Hard Bargains over Soft Goods (A)." Harvard Business School Case 910-043, April 2010.
- 2010
- Working Paper
Agency Revisited
By: Ramon Casadesus-Masanell and Daniel F. Spulber
The article presents a comprehensive overview of the principal-agent model that emphasizes the role of trust in the agency relationship. The analysis demonstrates that the legal remedy for breach of duty can result in a full-information efficient outcome eliminating...
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Casadesus-Masanell, Ramon, and Daniel F. Spulber. "Agency Revisited." Harvard Business School Working Paper, No. 10-082, March 2010.
- 2010
- Chapter
Backlash to Arbitration: Three Causes
By: Louis T. Wells
There are at least three reasons for the current backlash among developing countries against the international regime that governs disputes between foreign investors and host governments. First is the inconsistency of the decisions rendered by arbitration panels... View Details
Keywords:
Developing Countries and Economies;
International Finance;
Foreign Direct Investment;
Agreements and Arrangements;
Business and Government Relations;
Conflict Management
Wells, Louis T. "Backlash to Arbitration: Three Causes." Chap. 14 in The Backlash Against Investment Arbitration: Perceptions and Reality, edited by Michael Waibel, Asha Kaushal, Kyo-Hwa Chung, and Claire Balchin, 341–352. Alphen aan den Rijn, Netherlands: Kluwer Law International, 2010.
- October 2009 (Revised March 2012)
- Case
Nettwerk: Digital Marketing in the Music Industry
By: John A. Deighton and Leora Kornfeld
How is music marketed in the digital era? Nettwerk Music Group built on its foundation as a social, grassroots marketer of music and artists and emerged as a leader in the Internet-enabled social media environment. For most of the past decade Nettwerk CEO Terry McBride...
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Keywords:
Music Entertainment;
Product Marketing;
Network Effects;
Sales;
Social and Collaborative Networks;
Online Technology;
Media and Broadcasting Industry;
Music Industry
Deighton, John A., and Leora Kornfeld. "Nettwerk: Digital Marketing in the Music Industry." Harvard Business School Case 510-055, October 2009. (Revised March 2012.) (request a courtesy copy.)
- May 2009
- Article
When Contracts Destroy Trust
By: Deepak Malhotra
Contracts exist to foster trust, but they can actually do the opposite. Overly detailed contracts leave no room for spontaneous acts of kindness to create goodwill between parties; too-rigid contracts leave parties unable to respond to the unanticipated; and, strangely...
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Malhotra, Deepak. "When Contracts Destroy Trust." Harvard Business Review 87, no. 5 (May 2009): 25.
- 2009
- Other Unpublished Work
Reputation and Contractual Flexibility: Evidence from Venture Capital Distribution Pricing Policy
By: Paul A. Gompers, Andrew Metrick and Timothy Dore
- 2008
- Chapter
Corporate Honesty and Business Education: A Behavioral Model
By: Rakesh Khurana and Herbert Gintis
Since the mid-1970s neoclassical economic theory has dominated business school thinking and teaching in dealing with the nature of human motivation. However valuable in understanding competitive product and financial markets, neoclassical economic theory employs an...
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Keywords:
Business Education;
Ethics;
Managerial Roles;
Corporate Social Responsibility and Impact;
Organizational Culture;
Business and Shareholder Relations;
Mathematical Methods;
Behavior
Khurana, Rakesh, and Herbert Gintis. "Corporate Honesty and Business Education: A Behavioral Model." In Moral Markets: The Critical Role of Values in the Economy, edited by Paul J. Zak. Princeton University Press, 2008.
- October 2008
- Article
It's Time to Make Management a True Profession
By: Nitin Nohria and Rakesh Khurana
In the face of the recent institutional breakdown of trust in business, managers are losing legitimacy. To regain public trust, management needs to become a true profession in much the way medicine and law have, argue Khurana and Nohria of Harvard Business School. True...
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Keywords:
Competency and Skills;
Education;
Ethics;
Corporate Accountability;
Management;
Trust;
Value Creation
Nohria, Nitin, and Rakesh Khurana. "It's Time to Make Management a True Profession." Harvard Business Review 86, no. 10 (October 2008).
- July 2008
- Article
Crime and Punishment in the 'American Dream'
By: Rafael Di Tella and Juan Dubra
We observe that countries where belief in the "American dream" (i.e., effort pays) prevails also set harsher punishment for criminals. We know that beliefs are also correlated with several features of the economic system (taxation, social insurance, etc). Our objective...
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Keywords:
Crime and Corruption;
Economic Systems;
Values and Beliefs;
Law Enforcement;
Mathematical Methods;
Personal Characteristics;
United States
Di Tella, Rafael, and Juan Dubra. "Crime and Punishment in the 'American Dream'." Journal of Public Economics 92, no. 7 (July 2008).
- January 2008 (Revised November 2009)
- Supplement
China's Evolving Labor Laws (B)
By: Lynn Sharp Paine and Aldo Sesia Jr.
The (B) case describes how the various business groups responded to the Chinese government's invitation to submit comments on its draft labor contract law and details the ensuing global controversy. The (B) case also describes changes made to the working draft and...
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Keywords:
Government Legislation;
Labor;
Contracts;
Laws and Statutes;
Business and Government Relations;
Labor and Management Relations;
Conflict and Resolution;
China
Paine, Lynn Sharp, and Aldo Sesia Jr. "China's Evolving Labor Laws (B)." Harvard Business School Supplement 308-093, January 2008. (Revised November 2009.)
- September 2007 (Revised April 2013)
- Case
Peter Welz: When a Marquee Prospect Plays Hardball (A)
By: James K. Sebenius and Ellen Knebel
Describes the hardball tactics facing Peter Welz, who seeks to negotiate a make-or-break contract with a vastly larger potential client. Welz's counterpart team is led by Preston Spitzer, a notoriously tough player who fully understands his side's massive advantages in...
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Keywords:
Negotiation Process;
Negotiation Tactics;
Behavior;
Conflict and Resolution;
Competitive Advantage
Sebenius, James K., and Ellen Knebel. "Peter Welz: When a Marquee Prospect Plays Hardball (A)." Harvard Business School Case 908-010, September 2007. (Revised April 2013.)
- January 2006 (Revised October 2009)
- Case
Negotiating Star Compensation at the USAWBL (A-1): Confidential Instructions for Jesse J.
By: Ian Larkin, James K. Sebenius and Guhan Subramanian
In this three-party negotiation exercise, Jesse J, star center in the U.S.A. Women's Basketball League, with her agent, is negotiating a possible compensation package with the Boston Sharks involving a base salary, a possible share of team merchandising profits, and a...
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Keywords:
Compensation and Benefits;
Contracts;
Negotiation Process;
Negotiation Tactics;
Conflict and Resolution;
Sports;
Sports Industry;
United States
Larkin, Ian, James K. Sebenius, and Guhan Subramanian. "Negotiating Star Compensation at the USAWBL (A-1): Confidential Instructions for Jesse J." Harvard Business School Case 906-026, January 2006. (Revised October 2009.)