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- Faculty Publications (109)
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- All HBS Web (317)
- Faculty Publications (109)
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- February 2021
- Article
The Department of Justice as a Gatekeeper in Whistleblower-Initiated Corporate Fraud Enforcement: Drivers and Consequences
By: Jonas Heese, Ranjani Krishnan and Hari Ramasubramanian
We examine drivers and consequences of U.S. Department of Justice (DOJ) oversight of whistleblower cases of corporate fraud against the government. We find that the DOJ is more likely to intervene in and conduct longer investigations of cases that have a higher chance...
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Keywords:
Whistleblowing;
Department Of Justice;
DOJ Enforcement;
Performance Measures;
False Claims Act;
Crime and Corruption;
Governance Compliance;
Law Enforcement
Heese, Jonas, Ranjani Krishnan, and Hari Ramasubramanian. "The Department of Justice as a Gatekeeper in Whistleblower-Initiated Corporate Fraud Enforcement: Drivers and Consequences." Journal of Accounting & Economics 71, no. 1 (February 2021).
- 21 Feb 2008
- Working Paper Summaries
Do Legal Origins Have Persistent Effects Over Time? A Look at Law and Finance around the World c. 1900
- March 2023
- Article
Not from Concentrate: Collusion in Collaborative Industries
By: Jordan M. Barry, John William Hatfield, Scott Duke Kominers and Richard Lowery
The chief principle of antitrust law and theory is that reducing market concentration—having more, smaller firms instead of fewer, bigger ones—reduces anticompetitive behavior. We demonstrate that this principle is fundamentally incomplete.
In many... View Details
In many... View Details
Keywords:
Antitrust;
Antitrust Law;
Antitrust Theory;
Law And Economics;
Collusion;
Collaboration;
Collaborative Industries;
Regulation;
"Repeated Games";
IPOs;
Initial Public Offerings;
Underwriters;
Real Estate;
Real Estate Agents;
Realtors;
Syndicated Markets;
Syndication;
Brokers;
Market Concentration;
Competition;
Law;
Economics;
Collaborative Innovation and Invention;
Governing Rules, Regulations, and Reforms;
Game Theory;
Initial Public Offering
Barry, Jordan M., John William Hatfield, Scott Duke Kominers, and Richard Lowery. "Not from Concentrate: Collusion in Collaborative Industries." Iowa Law Review 108, no. 3 (March 2023): 1089–1148.
- October 2018 (Revised October 2019)
- Case
Rio Tinto vs. the Securities and Exchange Commission
By: Aiyesha Dey, Krishna G. Palepu and Sarah Gulick
Keywords:
Coal Mining;
SEC Enforcement;
FCPA;
Mining;
Fraud;
Acquisition;
Financial Reporting;
Mergers and Acquisitions;
Non-Renewable Energy;
Ethics;
Financial Management;
Investment;
Corporate Governance;
Laws and Statutes;
Lawsuits and Litigation;
Risk Management;
Risk and Uncertainty;
Energy Industry;
Mining Industry;
Financial Services Industry;
Mozambique;
United States;
Australia;
England
Dey, Aiyesha, Krishna G. Palepu, and Sarah Gulick. "Rio Tinto vs. the Securities and Exchange Commission." Harvard Business School Case 119-046, October 2018. (Revised October 2019.)
- 2016
- Working Paper
The Impact of Patent Wars on Firm Strategy: Evidence from the Global Smartphone Market
By: Feng Zhu
Strategy scholars have documented in various empirical settings that firms seek and leverage stronger institutions to mitigate hazards and gain competitive advantage. In this paper, we argue that such “institution-seeking” behavior may not be confined to the pursuit of...
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Keywords:
Patent Wars;
Patent Litigation;
Intellectual Property (IP) Enforcement;
Institutions;
Smartphone;
Patent Thicket;
Digital Platforms;
Patents;
Lawsuits and Litigation;
Globalized Markets and Industries;
Business Strategy;
Telecommunications Industry
Paik, Yongwook, and Feng Zhu. "The Impact of Patent Wars on Firm Strategy: Evidence from the Global Smartphone Market." Harvard Business School Working Paper, No. 14-015, August 2013. (Revised March 2016.)
- 27 Apr 2016
- Research & Ideas
How the FBI Reinvented Itself After 9/11
President George W. Bush expanded the FBI’s mission with a single question for Mueller: What was the FBI doing to prevent the next terrorist attack? And just like that, the brand-new director of the FBI had to figure out how to transform the organization from a View Details
Keywords:
by Carmen Nobel
- 05 May 2003
- Research & Ideas
Greed, Fear, and The System Hinder Corporate Reform
Enforcers of regulatory laws are making some headway, particularly since the passage last summer of the Sarbanes-Oxley Act, but their work as a whole needs more teeth, according to panelists at the session...
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Keywords:
by Martha Lagace
- Forthcoming
- Article
Half the Firms, Double the Profits: Public Firms' Transformation, 1996-2022
By: Mark J. Roe and Charles CY Wang
The number of public firms in the United States has halved since the beginning of the twenty-first century, causing consternation among corporate and securities law regulators. The dominant explanations, often advanced by Securities and Exchange commissioners when...
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Keywords:
IPO;
Public Company;
Corporate Law;
Private Equity;
Venture Capital;
Securities Regulation;
Mergers And Acquisitions;
Monopoly;
Sarbanes-Oxley Act;
Concentration Levels;
Antitrust
Roe, Mark J., and Charles CY Wang. "Half the Firms, Double the Profits: Public Firms' Transformation, 1996-2022." Journal of Law, Finance, and Accounting (forthcoming).
- March 2010
- Case
Federal Bureau of Investigation, 2007
By: Jan W. Rivkin, Michael Roberto and Ranjay Gulati
In the wake of the 9/11 terrorist attacks, Robert Mueller, the Director of the Federal Bureau of Investigation (FBI), sought to transform the storied Bureau. The FBI had long served as both the chief law enforcement agency and the main domestic intelligence wing of the...
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Keywords:
Transformation;
Organizational Structure;
Organizational Change and Adaptation;
Government Administration;
National Security;
Corporate Strategy;
Knowledge Acquisition;
Law Enforcement;
Public Administration Industry;
United States
Rivkin, Jan W., Michael Roberto, and Ranjay Gulati. "Federal Bureau of Investigation, 2007." Harvard Business School Case 710-451, March 2010.
- May 2008
- Article
Coerced Confessions: Self-Policing in the Shadow of the Regulator
By: Jodi L. Short and Michael W. Toffel
As part of a recent trend toward more cooperative relations between regulators and industry, novel government programs are encouraging firms to monitor their own regulatory compliance and voluntarily report their own violations. In this study, we examine how regulatory...
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Keywords:
Governance Compliance;
Law Enforcement;
Corporate Disclosure;
Governing Rules, Regulations, and Reforms;
Environmental Sustainability;
Programs;
Power and Influence;
Organizations;
Decisions;
Business and Government Relations;
United States
Short, Jodi L., and Michael W. Toffel. "Coerced Confessions: Self-Policing in the Shadow of the Regulator." Journal of Law, Economics & Organization 24, no. 1 (May 2008): 45–71.
- February 2005
- Article
Can Foreign Firms Bond Themselves Effectively by Renting U.S. Securities Laws?
By: Jordan I. Siegel
The study tests the functional convergence hypothesis, which states that foreign firms can leapfrog their countries' weak legal institutions by listing equities in New York and agreeing to follow U.S. securities law. Evidence shows that the SEC and minority...
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Keywords:
Corporate Governance;
Cross-listing;
Reputation;
Bonding;
Business Ventures;
Laws and Statutes;
Financial Instruments;
United States;
Mexico
Siegel, Jordan I. "Can Foreign Firms Bond Themselves Effectively by Renting U.S. Securities Laws?" Journal of Financial Economics 75, no. 2 (February 2005): 319–359. (The study tests the functional convergence hypothesis, which states that foreign firms can
leapfrog their countries' weak legal institutions by listing equities in New York and agreeing to follow U.S. securities law. Evidence shows that the SEC and minority shareholders have not effectively enforced the law against cross-listed foreign firms. Detailed evidence from Mexico further shows that while some insiders exploited this weak legal enforcement with impunity, others that issued a cross-listing and passed through an economic downturn with a clean reputation went on to receive privileged long-term access to outside finance. As compared with legal bonding, reputational bonding better explains the success of cross-listings.)
- March 2021
- Article
The Effectiveness of White-Collar Crime Enforcement: Evidence from the War on Terror
By: Trung Nguyen
This paper analyzes the impact of changes in regulatory priorities and resource allocation on criminal enforcement of white‐collar criminal activities. Using the 9/11 terrorist attacks as a shock to the FBI's priorities and allocation of investigative resources, as...
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Keywords:
White-collar Crime;
Government Regulation;
Financial Fraud;
Securities Fraud;
Insider Trading;
Crime and Corruption;
Finance;
Governing Rules, Regulations, and Reforms;
Law Enforcement
Nguyen, Trung. "The Effectiveness of White-Collar Crime Enforcement: Evidence from the War on Terror." Journal of Accounting Research 59, no. 1 (March 2021): 5–58.
- 18 Aug 2010
- Working Paper Summaries
The Role of Organizational Scope and Governance in Strengthening Private Monitoring
Keywords:
by Lamar Pierce & Michael W. Toffel
- Article
California Fair Trade: Antitrust and the Politics of 'Fairness' in U.S. Competition Policy
By: Laura Phillips Sawyer
In the decades before World War II, U.S. antitrust law was anything but settled. Considerable pressure for antitrust revision came from the states. A perhaps unlikely leader, Edna Gleason, organized California's retail pharmacists and coordinated trade networks to...
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Phillips Sawyer, Laura. "California Fair Trade: Antitrust and the Politics of 'Fairness' in U.S. Competition Policy." Business History Review 90, no. 1 (Spring 2016): 31–56.
- 2007
- Working Paper
Noncompetes and Inventor Mobility: Specialists, Stars, and the Michigan Experiment
Several scholars have documented the positive consequences of job-hopping by inventors, including knowledge spillovers and agglomeration and the concentration of spinoffs. This work investigates a possible antecedent of inventor mobility: regional variation in the...
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Marx, Matt, Deborah Strumsky, and Lee Fleming. "Noncompetes and Inventor Mobility: Specialists, Stars, and the Michigan Experiment." Harvard Business School Working Paper, No. 07-042, January 2007.
- November 2016 (Revised November 2016)
- Case
Mark43
By: Thomas Eisenmann, Mitch Weiss and Halah AlQahtani
The founders of Mark43, an early-stage startup that provides software for law enforcement agencies, must decide whether to bid on a request for proposals (RFP) from the Los Angeles Police Department (LAPD). On the one hand, LAPD would be a second large and influential...
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- Article
The Causes and Consequences of Industry Self-Policing
By: Jodi L. Short and Michael W. Toffel
Innovative regulatory programs are encouraging firms to police their own regulatory compliance and voluntarily disclose, or "confess," the violations they find. Despite the "win-win" rhetoric surrounding these government voluntary programs, it is not clear why...
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Short, Jodi L., and Michael W. Toffel. "The Causes and Consequences of Industry Self-Policing." Yale Economic Review 4, no. 2 (Summer 2008).
- April 2005
- Case
FBI: Mission Extended
Following the bombing of the World Trade Center in 1993, there was consensus that the FBI needed to make organizational changes. The FBI had long distinguished itself as the world's pre-eminent organization for conducting after-the-fact investigations that laid the...
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Beaulieu, Nancy D., and Aaron Zimmerman. "FBI: Mission Extended." Harvard Business School Case 905-061, April 2005.
- June 2018 (Revised July 2018)
- Teaching Note
Mark43
By: Thomas Eisenmann, Mitchell Weiss and Matt Higgins
Teaching Note for HBS No. 817-016. The founders of Mark43, an early-stage startup that provides software for law enforcement agencies, must decide whether to bid on a request for proposals (RFP) from the Los Angeles Police Department (LAPD). On the one hand, LAPD would...
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- 04 Feb 2002
- Research & Ideas
How To Do Business in Islamic Countries
the Challenge." He was joined by a specialist in Islamic law, Harvard Law School professor Frank E. Vogel, for the series' discussion on doing business in the Islamic world. Vogel and Hayes are also co-authors of the book Islamic...
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Keywords:
by Martha Lagace