Faculty & Research

Facilitating faculty research and case development on an international scale

Our unprecedented network of research centers and regional offices in key areas of the world enable faculty to work with leaders, industry, government, and academia worldwide, and to learn from business challenges and innovations wherever they occur. Through sustained work in the field, faculty are provided the opportunity to immerse themselves in the culture and values – as well as intricacies and nuances – that lead to truly meaningful and insightful global research.

Research Centers & Offices

More than half the faculty are actively involved in international research, developing high-impact cases and course materials on relevant global issues and innovations.

New Research

November 2023
Article
Research Policy

Open Source Software and Global Entrepreneurship

By: Nataliya Langburd Wright, Frank Nagle and Shane Greenstein

This is the first study to consider the relationship between open source software (OSS) and entrepreneurship around the globe. This study measures whether country-level participation on the GitHub OSS platform affects the founding of innovative ventures, and where it does so, for what types of ventures. We estimate these effects using cross-country variation in new venture founding and OSS participation. We propose an approach using instrumental variables, and cannot reject a causal interpretation. The study finds that an increase in GitHub participation in a given country generates an increase in the number of new technology ventures within that country in the subsequent year. The evidence suggests this relationship is complementary to a country’s endowments, and does not substitute for them. In addition to this positive change in the rate of entrepreneurship, we also find a change in direction—OSS contributions lead to new ventures that are more mission- and global-oriented and are of a higher quality. Together, the results suggest that OSS can boost entrepreneurial activity, albeit with a human capital prerequisite. Finally, we consider the implications for policies that encourage OSS as a lever for stimulating entrepreneurial growth.

October 2023
Article
Review of Financial Studies

Stock Market Stimulus

By: Robin Greenwood, Toomas Laarits and Jeffrey Wurgler

We study the stock market effects of the arrival of the three rounds of “stimulus checks” to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of retail-dominated portfolios. The Hong Kong payments increased overall turnover and share prices on the Hong Kong Stock Exchange. We cannot rule out that these price effects were permanent. The findings raise novel questions about the role of fiscal stimulus in the stock market.

September 2023
Teaching Material

Arcos Dorados: Decarbonizing McDonald’s in Latin America – Decarbonization Activities

By: George Serafeim and Michael W. Toffel

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Global Colloquium for participant-centered learning

For senior faculty at top business schools in emerging economies who want to be trained in interactive methods of teaching and learning. GloColl comprises a seven-day session held on the HBS campus, followed by a three-day session held in two cities in Asia, Europe, or Latin America each year.

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Faculty & Research

Facilitating faculty research and case development on an international scale

Research Centers & Offices

New Research

Open Source Software and Global Entrepreneurship

Stock Market Stimulus

Arcos Dorados: Decarbonizing McDonald’s in Latin America – Decarbonization Activities

Global Colloquium for participant-centered learning

In The News

Mexico and Vietnam’s Role in Global Supply Chain Reshuffle

Don Kohn’s Reflections on Jackson Hole 2023

Far-Right Groups Are Growing in Europe and THE US—from Consumer Decision-Making to Boycotts, Polarisation Poses Corporate Risks: Laura Jakli