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(298)
- News (11)
- Research (252)
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- Multimedia (1)
- Faculty Publications (177)
Show Results For
-
All HBS Web
(298)
- News (11)
- Research (252)
- Events (1)
- Multimedia (1)
- Faculty Publications (177)
- July 2021
- Article
Multinationality and Capital Structure Dynamics: A Corporate Governance Explanation
By: Daniel Gyimah, Nana Abena Kwansa, Anthony K. Kyiu and Anywhere Sikochi
This paper examines the impact of corporate governance on capital structure dynamics. Using ordinary least squares regressions on 17,496 firm-year observations for 2,294 U.S. multinational companies (MNCs) over the period 1990–2018, we find that MNCs with strong...
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Keywords:
Multinationality;
Speed Of Adjustment;
Corporate Governance;
Multinational Firms and Management;
Capital Structure
Gyimah, Daniel, Nana Abena Kwansa, Anthony K. Kyiu, and Anywhere Sikochi. "Multinationality and Capital Structure Dynamics: A Corporate Governance Explanation." Art. 101758. International Review of Financial Analysis 76 (July 2021).
- Article
Applying Random Coefficient Models to Strategy Research: Identifying and Exploring Firm Heterogeneous Effects
By: Juan Alcácer, Wilbur Chung, Ashton Hawk and Gonçalo Pacheco-de-Almeida
Strategy aims at understanding the differential effects of firms’ actions on performance. However, standard regression models estimate only the average effects of these actions across firms. Our paper discusses how random coefficient models (RCMs) may generate new...
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Alcácer, Juan, Wilbur Chung, Ashton Hawk, and Gonçalo Pacheco-de-Almeida. "Applying Random Coefficient Models to Strategy Research: Identifying and Exploring Firm Heterogeneous Effects." Strategy Science 3, no. 3 (September 2018): 481–553.
- 2009
- Working Paper
When Does Domestic Saving Matter for Economic Growth?
By: Philippe Aghion, Diego A. Comin, Peter Howitt and Isabel Tecu
Can a country grow faster by saving more? We address this question both theoretically and empirically. In our theoretical model, growth results from innovations that allow local sectors to catch up with frontier technology. In poor countries, catching up requires the...
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Keywords:
Developing Countries and Economies;
Economic Growth;
Entrepreneurship;
Foreign Direct Investment;
Saving;
Technological Innovation;
Mathematical Methods
Aghion, Philippe, Diego A. Comin, Peter Howitt, and Isabel Tecu. "When Does Domestic Saving Matter for Economic Growth?" Harvard Business School Working Paper, No. 09-080, January 2009.
- August 2023 (Revised March 2024)
- Case
Arla Foods: Data-Driven Decarbonization (A)
By: Michael Parzen, Michael W. Toffel, Susan Pinckney and Amram Migdal
The case describes Arla’s history, in particular its climate change mitigation efforts, and how it implemented a price incentive system to motivate individual farms to implement scope 1 greenhouse gas emissions mitigation measures and receive a higher milk price. The...
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Keywords:
Dairy Industry;
Business Earnings;
Agribusiness;
Animal-Based Agribusiness;
Acquisition;
Mergers and Acquisitions;
Decision Making;
Decisions;
Voting;
Environmental Management;
Climate Change;
Environmental Regulation;
Environmental Sustainability;
Green Technology;
Pollution;
Moral Sensibility;
Values and Beliefs;
Financial Strategy;
Price;
Profit;
Revenue;
Food;
Geopolitical Units;
Global Strategy;
Ownership Type;
Cooperative Ownership;
Performance Efficiency;
Performance Evaluation;
Problems and Challenges;
Natural Environment;
Science-Based Business;
Business Strategy;
Commercialization;
Cooperation;
Corporate Strategy;
Food and Beverage Industry;
Agriculture and Agribusiness Industry;
Europe;
United Kingdom;
European Union;
Germany;
Denmark;
Sweden;
Luxembourg;
Belgium
Parzen, Michael, Michael W. Toffel, Susan Pinckney, and Amram Migdal. "Arla Foods: Data-Driven Decarbonization (A)." Harvard Business School Case 624-003, August 2023. (Revised March 2024.)
- August 2023 (Revised January 2024)
- Supplement
Arla Foods: Data-Driven Decarbonization (B)
By: Michael Parzen, Michael W. Toffel, Susan Pinckney and Amram Migdal
The case describes Arla’s history, in particular its climate change mitigation efforts, and how it implemented a price incentive system to motivate individual farms to implement scope 1 greenhouse gas emissions mitigation measures and receive a higher milk price. The...
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Keywords:
Dairy Industry;
Earnings Management;
Environmental Accounting;
Animal-Based Agribusiness;
Mergers and Acquisitions;
Decisions;
Voting;
Climate Change;
Environmental Regulation;
Environmental Sustainability;
Green Technology;
Pollution;
Moral Sensibility;
Values and Beliefs;
Financial Strategy;
Price;
Profit;
Revenue;
Food;
Geopolitical Units;
Cross-Cultural and Cross-Border Issues;
Global Strategy;
Cooperative Ownership;
Performance Efficiency;
Performance Evaluation;
Problems and Challenges;
Natural Environment;
Science-Based Business;
Business Strategy;
Commercial Banking;
Cooperation;
Corporate Strategy;
Food and Beverage Industry;
Agriculture and Agribusiness Industry;
Europe;
United Kingdom;
European Union;
Denmark;
Sweden;
Luxembourg;
Belgium
Parzen, Michael, Michael W. Toffel, Susan Pinckney, and Amram Migdal. "Arla Foods: Data-Driven Decarbonization (B)." Harvard Business School Supplement 624-036, August 2023. (Revised January 2024.)
- Fall 2017
- Article
An Empirical Analysis of Investment Return Dispersion in Emerging Markets Private Equity
By: Josh Lerner and Mark Baker
The authors use transaction-level data to compare the dispersion of private equity (PE) returns in emerging markets (EMs) to the same in developed markets (DMs). They regress within-market absolute deviation from the mean on an EM indicator and controls. They find...
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Lerner, Josh, and Mark Baker. "An Empirical Analysis of Investment Return Dispersion in Emerging Markets Private Equity." Journal of Private Equity 20, no. 4 (Fall 2017): 15–24.
- 28 Aug 2020
- Video
Stata Reproducible Reporting (DynDoc) Demo
- Teaching Interest
Overview
I served as a Teaching Fellow for the Applied Business Analytics second-year MBA course. This course sought to teach MBA students how businesses can improve their strategic decisions using statistics and machine learning techniques. (e.g., regression models, random...
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- 2016
- Working Paper
Reviews, Reputation, and Revenue: The Case of Yelp.com
By: Michael Luca
Do online consumer reviews affect restaurant demand? I investigate this question using a novel dataset combining reviews from the website Yelp.com and restaurant data from the Washington State Department of Revenue. Because Yelp prominently displays a restaurant's...
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Keywords:
Revenue;
Network Effects;
Reputation;
Social and Collaborative Networks;
Food and Beverage Industry;
Service Industry;
Washington (state, US)
Luca, Michael. "Reviews, Reputation, and Revenue: The Case of Yelp.com." Harvard Business School Working Paper, No. 12-016, September 2011. (Revised March 2016.)
- August 2014
- Article
Religion, Politician Identity and Development Outcomes: Evidence from India
By: Sonia Bhalotra, Irma Clots-Figueras, Guilhem Cassan and Lakshmi Iyer
This paper investigates whether the religious identity of state legislators in India influences development outcomes, both for citizens of their religious group and for the population as a whole. Using an instrumental variables approach derived from a regression...
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Keywords:
Politician Identity;
Infant Mortality;
Primary Education;
India;
Muslim;
Fairness;
Religion;
Government and Politics;
India
Bhalotra, Sonia, Irma Clots-Figueras, Guilhem Cassan, and Lakshmi Iyer. "Religion, Politician Identity and Development Outcomes: Evidence from India." Journal of Economic Behavior & Organization 104 (August 2014): 4–17.
- May 2020
- Article
Ancient Origins of the Global Variation in Economic Preferences
By: Anke Becker, Benjamin Enke and Armin Falk
This paper shows that contemporary population-level heterogeneity in risk aversion, time preference, altruism, positive reciprocity, negative reciprocity, and trust partly traces back to the structure of the migration patterns of our very early ancestors. To document...
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Keywords:
Migration Patterns;
Behavioral Economics;
Preferences;
Microeconomics;
Demography;
Decision Making;
Risk and Uncertainty;
History;
Global Range
Becker, Anke, Benjamin Enke, and Armin Falk. "Ancient Origins of the Global Variation in Economic Preferences." AEA Papers and Proceedings 110 (May 2020): 319–323.
- December 2023
- Article
Advances in Power-to-Gas Technologies: Cost and Conversion Efficiency
By: Gunther Glenk, Philip Holler and Stefan Reichelstein
Widespread adoption of hydrogen as an energy carrier is widely believed to require continued advances in Power-to-Gas (PtG) technologies. Here we provide a comprehensive assessment of the dynamics of system prices and conversion efficiency for three currently prevalent...
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Keywords:
Clean Technology;
Green Hydrogen;
Carbon Emissions;
Decarbonization;
Learning By Doing;
Environment;
Energy;
Environmental Accounting;
Environmental Management;
Sustainable Cities;
Cost Accounting;
Innovation and Management;
Technology Adoption;
Energy Policy;
Engineering;
Green Technology;
Energy Industry;
Utilities Industry;
Industrial Products Industry;
Manufacturing Industry;
Transportation Industry;
North America;
South America;
Africa;
Europe;
Asia
Glenk, Gunther, Philip Holler, and Stefan Reichelstein. "Advances in Power-to-Gas Technologies: Cost and Conversion Efficiency." Energy & Environmental Science 16, no. 12 (December 2023): 6058–6070.
- June 2007
- Article
Which Levers Boost ROI?
By: Margeaux Cvar and John A. Quelch
The article refers to ROI, or return on investment, and focuses on a rational strategy for financial markets that uses outside industry comparisons. The first step is to identify parallel businesses that have similar characteristics such as growth, capital, and market...
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Cvar, Margeaux, and John A. Quelch. "Which Levers Boost ROI?" Harvard Business Review 85, no. 6 (June 2007): 21–24.
- May 2022
- Article
Complex Disclosure
By: Ginger Zhe Jin, Michael Luca and Daniel Martin
We present evidence that unnecessarily complex disclosure can result from strategic incentives to shroud information. In our lab experiment, senders are required to report their private information truthfully, but can choose how complex to make their reports. We find...
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Keywords:
Disclosure;
Experiments;
Naiveté;
Overconfidence;
Corporate Disclosure;
Policy;
Information;
Complexity;
Strategy;
Consumer Behavior
Jin, Ginger Zhe, Michael Luca, and Daniel Martin. "Complex Disclosure." Management Science 68, no. 5 (May 2022): 3236–3261.
Michael I. Parzen
Michael Parzen is a Senior Lecturer in the Technology and Operations Management unit at Harvard Business School. He is an applied statistician with extensive experience in data science education and currently teaches Applied Business Analytics as an MBA elective... View Details
- 2016
- Chapter
User-Generated Content and Social Media
By: Michael Luca
This paper documents what economists have learned about user-generated content (UGC) and social media. A growing body of evidence suggests that UGC on platforms ranging from Yelp to Facebook has a large causal impact on economic and social outcomes ranging from...
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Keywords:
User-generated Content;
Crowdsourcing;
Design Economics;
Internet and the Web;
Marketing;
Economics;
Media;
Social Media
Luca, Michael. "User-Generated Content and Social Media." Chap. 12 in Handbook of Media Economics. Vol. 1B, edited by Simon Anderson, Joel Waldfogel, and David Strömberg. North-Holland Publishing Company, 2016.
- 2014
- Working Paper
Return on Political Investment in the American Jobs Creation Act of 2004
By: Hui Chen, Katherine Gunny and Karthik Ramanna
Prior literature raises a "puzzle" of high rates of return on corporate political investment, but evidence for this puzzle is largely descriptive in nature. We exploit the setting of the American Jobs Creation Act's passage in 2004 to provide more robust estimates of...
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Chen, Hui, Katherine Gunny, and Karthik Ramanna. "Return on Political Investment in the American Jobs Creation Act of 2004." Harvard Business School Working Paper, No. 15-050, December 2014.
- 2012
- Article
Journalists and the Stock Market
By: Christopher Parsons, C. Dougal, J. Engelberg and D. Garcia
We use exogenous scheduling of Wall Street Journal columnists to identify a causal relation between financial reporting and stock market performance. To measure the media's unconditional effect, we add columnist fixed effects to a daily regression of excess Dow Jones...
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Parsons, Christopher, C. Dougal, J. Engelberg, and D. Garcia. "Journalists and the Stock Market." Review of Financial Studies 25, no. 3 (March 2012): 639–679.
- September 2022
- Article
The Impact of Financial Assistance Programs on Health Care Utilization: Evidence from Kaiser Permanente
By: Alyce S. Adams, Raymond Kluender, Neale Mahoney, Jinglin Wang, Francis Wong and Wesley Yin
Most hospitals have financial assistance programs for low-income patients. We use administrative data from Kaiser Permanente to study the effects of financial assistance on health care utilization. Using a regression discontinuity design based on an income threshold...
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Keywords:
Healthcare;
Utilization;
Financial Assistance;
Health Care and Treatment;
Social Issues;
Poverty;
Health Industry
Adams, Alyce S., Raymond Kluender, Neale Mahoney, Jinglin Wang, Francis Wong, and Wesley Yin. "The Impact of Financial Assistance Programs on Health Care Utilization: Evidence from Kaiser Permanente." American Economic Review: Insights 4, no. 3 (September 2022): 389–407.
- Article
How Much Should We Trust Staggered Difference-In-Differences Estimates?
By: Andrew C. Baker, David F. Larcker and Charles C.Y. Wang
We explain when and how staggered difference-in-differences regression estimators, commonly applied to assess the impact of policy changes, are biased. These biases are likely to be relevant for a large portion of research settings in finance, accounting, and law that...
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Keywords:
Difference In Differences;
Staggered Difference-in-differences Designs;
Generalized Difference-in-differences;
Dynamic Treatment Effects;
Mathematical Methods
Baker, Andrew C., David F. Larcker, and Charles C.Y. Wang. "How Much Should We Trust Staggered Difference-In-Differences Estimates?" Journal of Financial Economics 144, no. 2 (May 2022): 370–395. (Editor's Choice, May 2022; Jensen Prize, First Place, June 2023.)