Europe
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- 28 Sep 2018
- Working Paper Summaries
Rankings Matter Even When They Shouldn't: Bandwagon Effects in Two-Round Elections
Results of the French parliamentary and local elections since 1958 show that candidates ranked higher in the first round are more likely to stay in the race for the second round and win it. Arriving first instead of second and second instead of third increases winning by 5.8 and 9.9 percentage points, respectively.
- 27 Sep 2018
- Working Paper Summaries
UK Competitiveness after Brexit
This paper discusses the UK’s economic performance and policy approach in the run-up to the June 2016 Brexit referendum, analyzes the impact of European Union membership and loss of membership on UK competitiveness, and sets forth a new strategic agenda to enhance UK competitiveness in the post-Brexit era.
- 06 Sep 2018
- Cold Call Podcast
Should US Companies Still Care About the Paris Climate Change Agreement?
American President Donald Trump pulled out of the 2015 Paris agreement on climate change one year ago. Vincent Pons discusses what it means for US business leaders in confronting environmental challenges. Open for comment; Comment(s) posted.
- 18 Jul 2018
- Research & Ideas
No More General Tso's? A Threat to 'Knowledge Recombination'
Immigrants bring with them innovations from their homelands, knowledge that local inventors often build upon, says Prithwiraj Choudhury. Examples: turmeric medicine, double-entry bookkeeping, and American Chinese food. Open for comment; Comment(s) posted.
- 21 May 2018
- HBS Case
How Would You Price One of the World's Great Watches?
For companies with lots of innovation stuffed in their products, getting the price right is a crucial decision. Stefan Thomke discusses how watchmaker A. Lange & Söhne puts a price on its 173-year-old craftsmanship. Open for comment; Comment(s) posted.
- 16 May 2018
- Research & Ideas
How Companies Managed Risk (and Even Benefitted) in World War Internment Camps
Foreign businesses located in at-war countries are often victims of expropriation. Historian Valeria Giacomin explores how German businesses in the United Kingdom and India mitigated risk and even benefitted when their employees were placed in internment camps during the World Wars. Open for comment; Comment(s) posted.
- 05 Apr 2018
- Cold Call Podcast
How a Coal Polluter Became a Renewable Energy Leader
Enel, Italy’s state-owned power company, was one of Europe’s largest coal users and polluters. Now it is recognized as a leader in renewable energy services. Mark Kramer discusses how CEO Francesco Starace drove the huge strategy shift. Open for comment; Comment(s) posted.
- 26 Mar 2018
- Working Paper Summaries
The Impact of CEOs in the Public Sector: Evidence from the English NHS
To what extent do CEOs impact their organizations? This study finds little consistent evidence of any CEO effect on the large set of production metrics examined in hospitals averaging 4,500 employees in the English National Health Service. This result stands in stark contrast with earlier findings of a CEO effect in the private sector and smaller public sector organizations.
- 20 Feb 2018
- Working Paper Summaries
Stock Market Returns and Consumption
Using a unique dataset for the entire Swedish population, this study of household consumption in response to changes in capital gains and dividends shows that the marginal propensity to consume (MPC) out of capital gains for households in the top 50 percent of financial wealth distribution is relatively uniform and around 5 percent but is more than 10 percent for the bottom 50 percent. These results explain why the recent stock market rally ignited a spending splurge that is cutting into how much households save for rainy days.
- 15 Feb 2018
- Working Paper Summaries
Can Financial Innovation Solve Household Reluctance to Take Risk?
Structured products are an innovative class of retail financial products with option-like features. This paper provides empirical evidence suggesting that innovative financial products like these can help alleviate loss aversion and thus the low participation of households in risky asset markets.
- 30 Jan 2018
- Working Paper Summaries
Credit Supply Shocks, Network Effects, and the Real Economy
Using data for Spain between 2003 and 2013, this study examines firms’ responses to credit supply shocks during times of boom (expansion) and bust (financial crisis and recession). Results indicate that propagation of these shocks through the Spanish production network doubles the magnitude of the real effects typically estimated in the literature. This study also shows how such effects vary greatly during booms and busts.
- 29 Nov 2017
- Research & Ideas
How to Succeed in Business (According to a 15th Century Trade Merchant)
Does a 15th century Italian merchant have something to teach leaders about the proper ways to conduct business? Sophus Reinert and Dante Roscini discuss the first English translation of The Book of the Art of Trade. Open for comment; Comment(s) posted.
- 07 Sep 2017
- Cold Call Podcast
Faber-Castell Doubles Down on the Pencil
Some products are just harder to innovate than others. The pencil, for instance. Yet, Faber-Castell has been turning them out for more than 200 years, adding improvements such as color and cosmetic products to the mix. In this podcast, Ryan Raffaelli discusses how older products can become young again. Open for comment; Comment(s) posted.
- 24 Aug 2017
- Cold Call Podcast
Does Le Pliage Help or Hurt the Longchamp Luxury Brand?
Longchamp's iconic but affordable Le Pliage bag is a conundrum for the company, explains Jill Avery in this podcast. Does an affordable luxury product work against the top-tier brand? Open for comment; Comment(s) posted.
- 14 Jun 2017
- Working Paper Summaries
Expressive Voting and Its Cost: Evidence from Runoffs with Two or Three Candidates
This paper highlights the motivations and consequences of citizens voting for lower-ranked candidates in elections held under plurality rule. Findings show that a large fraction of voters are what the authors call expressive. Expressive voters vote for their favorite candidate even if it causes the defeat of their second-best choice.
- 07 Jun 2017
- Research & Ideas
How an African History Scholar Became a Modern Righter of Wrongs
A scholar of colonial-era African history, Caroline M. Elkins had dramatic success turning prior knowledge into real-world action—namely, with a groundbreaking lawsuit against the British government, which revealed a chillingly bureaucratic process for destroying evidence of torture. Open for comment; Comment(s) posted.
- 20 Apr 2017
- Cold Call Podcast
Making Health Insurance That Consumers Actually Like
By motivating its insurance customers to take care of themselves, South African firm Vitality has expanded to the United Kingdom and China. In this podcast, Professor Regina Herzlinger discusses potential impacts of this model for health care in the United States. Open for comment; Comment(s) posted.
- 06 Apr 2017
- Cold Call Podcast
Why German Business Supports, Trains and Hires Syrian Refugees
Germany has been taking in more than a million Syrian refugees each year, and involves the business community in making them productive workers. Has it worked out as hoped? In this podcast, Rebecca Henderson discusses her case study on Germany's experience. Open for comment; Comment(s) posted.
- 23 Nov 2016
- Cold Call Podcast
Digital Change: Lessons from the Newspaper Industry
In a podcast, Professor Bharat Anand discusses Norwegian media giant Schibsted’s resounding success in the newspaper business through modernization of classified ads, bringing users together, and adopting a digital-first approach. Open for comment; Comment(s) posted.
Towards a New Approach for Upgrading Europe’s Competitiveness
Is the EU’s model of European integration a driver or a barrier towards higher European prosperity? This paper analyzes why the integration model that was successful in the past has lost effectiveness, and sets out strategic principles to guide a new approach. Integration remains key for upgrading European competitiveness, but needs to move towards a new form.