Skip to Main Content
HBS Home
  • About
  • Academic Programs
  • Alumni
  • Faculty & Research
  • Baker Library
  • Giving
  • Harvard Business Review
  • Initiatives
  • News
  • Recruit
  • Map / Directions
Working Knowledge
Business Research for Business Leaders
  • Browse All Articles
  • Popular Articles
  • Cold Call Podcast
  • Managing the Future of Work Podcast
  • About Us
  • Book
  • Leadership
  • Marketing
  • Finance
  • Management
  • Entrepreneurship
  • All Topics...
  • Topics
    • COVID-19
    • Entrepreneurship
    • Finance
    • Gender
    • Globalization
    • Leadership
    • Management
    • Negotiation
    • Social Enterprise
    • Strategy
  • Sections
    • Book
    • Podcasts
    • HBS Case
    • In Practice
    • Lessons from the Classroom
    • Op-Ed
    • Research & Ideas
    • Research Event
    • Sharpening Your Skills
    • What Do You Think?
    • Working Paper Summaries
  • Browse All
    First Look: January 13

    First Look

    13 Jan 2015

    Setting The Cross-promotion Bar At Nbcuniversal

    Cross-promotions are standard marketing fare in many industries, but few use them as boldly as NBCUniversal and its "Project Symphony" strategy. Anita's Elberse's new case, "NBCUniversal," looks on as CEO Stephen Burke prioritizes which film will be given priority promotion from the company's broadcast and cable television, film, and theme park divisions.

    Taxes, Timing, And More Money To Spend In Retirement

    What's better for your retirement savings account: savings taxed up front or taxed in retirement? For most retirees, the former solution would give them more money in their golden years, but many employees (and even some planning professionals) do not figure tax treatments into their retirement calculations. The research paper Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(k) Introductions, by John Beshears and colleagues, suggests that governments could increase private savings by shifting the timing of taxation.

    Competing For College Admission In South Korea

    Researchers Christopher Avery, Alvin E. Roth, and Soohyung Lee look to college admissions in South Korea to better understand the dynamics of competition and the effects of early admission policies. One takeaway: "When applications reveal information about students that is of common interest to all colleges, lower-ranked colleges can gain in competition with higher-ranked colleges by limiting the number of possible applications." The paper is titled, College Admissions as Non-Price Competition: The Case of South Korea.

    —Sean Silverthorne
    LinkedIn
    Email
     

    Publications

    • January 2015
    • Handbook of Regional and Urban Economics

    Agglomeration and Innovation

    By: Carlino, Gerald, and William R. Kerr

    Abstract—This chapter reviews academic research on the connections between agglomeration and innovation. We first describe the conceptual distinctions between invention and innovation. We then describe how these factors are frequently measured in the data and some resulting empirical regularities. Innovative activity tends to be more concentrated than industrial activity, and we discuss important findings from the literature about why this is so. We highlight the traits of cities (e.g., size, industrial diversity) that theoretical and empirical work link to innovation, and we discuss factors that help sustain these features (e.g., the localization of entrepreneurial finance).

    Publisher's link: http://www.hbs.edu/faculty/Publication%20Files/15-007_e181fd00-4426-4db8-8f70-89b1b5054a8f.pdf

    • January 2015
    • Routledge Handbook of Immigration and Refugee Studies

    International Migration and Innovation: Insights from the U.S. Experience

    By: Kerr, William R.

    Abstract—No abstract available.

    Publisher's link: http://www.routledge.com/books/details/9781138794313/

    • January 2015
    • Journal of Economic Behavior & Organization

    Strategic Disclosure: The Case of Business School Rankings

    By: Luca, Michael, and Jonathan Smith

    Abstract—We empirically analyze disclosure decisions made by 240 MBA programs about which rankings to display on their websites. We present three main findings. First, consistent with theories of countersignaling, top schools are least likely to disclose their rankings, whereas mid-ranked schools are most likely to disclose. Second, schools that do poorly in the U.S. News rankings are more likely to disclose their Princeton Review certification, suggesting that schools treat different certifications as substitutes. Third, conditional on displaying a ranking, the majority of schools coarsen information to make it seem more favorable. The stark patterns in the data help to provide empirical evidence on the strategic elements of voluntary disclosure and marketing decisions.

    Publisher's link: http://people.hbs.edu/mluca/StrategicDisclosure.pdf

    • January 2015
    • Innovation Policy and the Economy

    Firms and the Economics of Skilled Immigration

    By: Pekkala Kerr, Sari, William R. Kerr, and William F. Lincoln

    Abstract—Firms play a central role in the selection, sponsorship, and employment of skilled immigrants entering the United States for work through programs like the H-1B visa. This role has not been widely recognized in the literature, and the data to better understand it have only recently become available. This paper discusses the evidence that has been assembled to date in understanding the impact of high-skilled immigration from the perspective of the firm and the open areas that call for more research. Since much of the U.S. immigration process for skilled workers rests in the hands of employer firms, a stronger understanding of these implications is essential for future policy analysis, particularly for issues relating to fostering innovation.

    Publisher's link: http://www.people.hbs.edu/wkerr/Kerr_Kerr_Lincoln_WP14_IPEFirms.pdf

    • January 2015
    • IESE Insight

    From TV to Web: Content Strategies for Ads That Drive Online Sales

    By: Teixeira, Thales S.

    Abstract—Consumers have become avid media multitaskers, moving seamlessly between their TVs and digital devices. Shorter TV commercials have reduced both the quantity and quality of consumer attention during prime-time viewing hours. In this new media environment, can TV advertising remain an effective means of promoting and selling products and services? In this article, the author draws upon his research to argue that TV advertising remains a powerful vehicle for capturing people's attention, persuading them to purchase products and services, and building brands. He describes four different ad types and explains how each can influence multitasking consumers. To create an effective media mix, he recommends that companies take advantage of lean advertising principles and adopt a sequential approach to capture customer attention, which he calls the "ladder of engagement."

    Publisher's link: http://www.ieseinsight.com/review/articulo.aspx?doc=119397&seccion=6&idioma=2

     

    Working Papers

    College Admissions as Non-Price Competition: The Case of South Korea

    By: Avery, Christopher, Alvin E. Roth, and Soohyung Lee

    Abstract—This paper examines non-price competition among colleges to attract highly qualified students, exploiting the South Korean setting where the national government sets rules governing applications. We identify some basic facts about the behavior of colleges before and after a 1994 policy change that changed the timing of the national college entrance exam and introduced early admissions, and we propose a game-theoretic model that matches those facts. When applications reveal information about students that is of common interest to all colleges, lower-ranked colleges can gain in competition with higher-ranked colleges by limiting the number of possible applications.

    Download working paper: http://www.nber.org/papers/w20774

    Does Front-Loading Taxation Increase Savings? Evidence from Roth 401(k) Introductions

    By: Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian

    Abstract—Can governments increase private savings by taxing savings up front instead of in retirement? Roth 401(k) contributions are not tax-deductible in the contribution year, but withdrawals in retirement are untaxed. The more common before-tax 401(k) contribution is tax-deductible in the contribution year, but both principal and investment earnings are taxed upon withdrawal. Using administrative data from 11 companies that added a Roth contribution option to their existing 401(k) plan between 2006 and 2010, we find no evidence that total 401(k) contribution rates differ between employees hired before versus after the Roth introduction, which means that the amount of retirement consumption being purchased by 401(k) contributions increases after the Roth introduction. A survey experiment suggests two behavioral factors play a role in the unresponsiveness of contribution rates to their tax treatment: (1) employee confusion about or neglect of the tax properties of Roth balances and (2) partition dependence.

    Download working paper: http://www.nber.org/papers/w20738

    The Rise and Fall of Demand for Securitizations

    By: Chernenko, Sergey, Samuel G. Hanson, and Adi Sunderam

    Abstract—Collateralized debt obligations (CDOs) and private-label mortgage-backed securities (MBS) backed by nonprime loans played a central role in the recent financial crisis. Little is known, however, about the underlying forces that drove investor demand for these securitizations. Using micro-data on insurers' and mutual funds' bond holdings, we find considerable heterogeneity in investor demand for securitizations in the pre-crisis period. We argue that both investor beliefs and incentives help to explain this variation in demand. By contrast, our data paints a more uniform picture of investor behavior in the crisis. Consistent with theories of optimal liquidation, investors largely traded in more liquid securities, such as government-guaranteed MBS, to meet their liquidity needs during the crisis.

    Download working paper: http://www.people.hbs.edu/shanson/ABS_2014-12-8_FINAL.pdf

    Tommy Koh and the U.S.-Singapore Free Trade Agreement: A Multi-Front 'Negotiation Campaign'

    By: Green, Laurence A., and James K. Sebenius

    Abstract—Complex, multiparty negotiations are often analyzed as principals negotiating through agents, as two-level games (Putnam 1988), or in coalitional terms. The relatively new concept of a "multi-front negotiation campaign" (Sebenius 2010, Lax and Sebenius 2012) offers an analytic approach that may enjoy descriptive and prescriptive advantages over more traditional approaches that focus on a specific negotiation as the unit of analysis. The efforts of Singapore Ambassador-At-Large Tommy Koh to negotiate the U.S.-Singapore Free Trade agreement serve as an extended case study of a complex, multiparty negotiation that illustrates and further elaborates the concept of a negotiation campaign.

    Download working paper: http://ssrn.com/abstract=2539774

    Government Preferences and SEC Enforcement

    By: Heese, Jonas

    Abstract—I examine whether political pressure by the government as a response to voters' general interest in protecting employment is reflected in the enforcement actions by the Securities and Exchange Commission (SEC). Using labor intensity as a measure of a firm's contribution to employment, I find that labor-intensive firms are less likely to be subject to an SEC enforcement action. Next, I show that labor-intensive firms are less likely to face an SEC enforcement action in presidential election years if they are located in politically important states. I also find evidence of a lower likelihood of SEC enforcement for labor-intensive firms that are headquartered in districts of senior congressmen that serve on committees that oversee the SEC. All of these results hold after controlling for firms' accounting quality and two alternative explanations for firms' favorable treatment by the SEC, i.e., firms' location and political contributions. These findings suggest that voters' interests drive political pressure on SEC enforcement-independent of firms' lobbying for their special interests.

    Download working paper: http://ssrn.com/abstract=2542242

    Higher-Ambition CEOs Need Higher-Ambition Boards

    By: Ludwig, Edward J., Anna Elise Walton, and Michael Beer

    Abstract—Over the past years, forward-looking CEOs have adopted a higher-ambition approach to strategy and leadership. These higher-ambition CEOs are driven by a sense of purpose that goes beyond achieving financial success. They aspire to build organizations that succeed in the marketplace by earning the respect, trust, and, commitment of their people, customers, communities, and investors. Higher-ambition leaders commit to simultaneously meeting financial targets and fulfilling broader needs in society. They are also realistic about the challenges.

    Download working paper: http://ssrn.com/abstract=2539073

     

    Cases & Course Materials

    • Harvard Business School Case 915-016

    Market Design in Online Businesses (Abridged)

    The purpose of this note is to characterize the challenges entrepreneurs may face in creating a well-functioning ecosystem of users and to equip entrepreneurs with tools to overcome these obstacles. This note is meant to accompany the final module of the "The Online Economy: Strategy and Entrepreneurship," an elective course taught at Harvard Business School. This is an abridgment of HBS No. 911-066.

    Purchase this case:
    https://cb.hbsp.harvard.edu/cbmp/product/915016-PDF-ENG

    • Harvard Business School Case 515-039

    NBCUniversal

    In September 2014, Stephen Burke, chief executive officer at media and entertainment company NBCUniversal, has to decide between possible priorities for the company's "Project Symphony," guaranteeing the winners a high level of visibility and support across the media conglomerate's broadcast and cable television, film, and theme park divisions. Past "Gold" priorities for Symphony, an initiative introduced shortly after Comcast made steps to acquire NBCUniversal in 2010, saw subsequent success in the marketplace. Symphony is so powerful, in fact, that competing conglomerates are keen to buy some of NBCUniversal's cross-promotional strength, as Disney did with its megahit Frozen in 2014. For 2015, the choice is between five films-Fast & Furious 7, Fifty Shades of Grey, Jurassic World, Minions, and Pitch Perfect 2-as well as two choices in television. Which are most deserving of Gold status?

    Purchase this case:
    https://cb.hbsp.harvard.edu/cbmp/product/515039-PDF-ENG

    • Harvard Business School Case 115-013

    Valuation Ratios in the Airline Industry, 2013

    Examines factors underlying differences in valuation multiples (price-to-earnings and price-to-book) across four firms in the airline industry.

    Purchase this case:
    https://cb.hbsp.harvard.edu/cbmp/product/115013-PDF-ENG

    • Harvard Business School Case 715-002

    Indonesia: Growth and Stability in a Global Economy

    No abstract available.

    Purchase this case:
    https://cb.hbsp.harvard.edu/cbmp/product/715002-PDF-ENG

    • Harvard Business School Case 715-004

    NuScale Power-the Future of Small Modular Reactors

    NuScale Power, an entrepreneurial venture in Portland, Oregon, has designed the leading modular nuclear reactor in the United States. This reactor will be the safest and simplest ever built. Started in 2007 as an entrepreneurial venture, the company is now two years away from applying to the Nuclear Regulatory Commission (NRC) for a license certification. While the NRC considers the application, the company will finish designing a nuclear plant to use 12 of its modular reactors. The company will see its first of several hundred planned sales by 2021, if it can mitigate the substantial risks involved.

    Purchase this case:
    https://cb.hbsp.harvard.edu/cbmp/product/715004-PDF-ENG

      Trending
        • 27 Jan 2023
        • Op-Ed

        Have We Lost Sight of Integrity?

        • 01 Feb 2023
        • What Do You Think?

        Will Hybrid Work Strategies Pull Down Long-Term Performance?

        • 31 Jan 2023
        • Research & Ideas

        It’s Not All About Pay: College Grads Want Jobs That ‘Change the World’

        • 17 Jan 2023
        • In Practice

        8 Trends to Watch in 2023

        • 28 Feb 2018
        • Sharpening Your Skills

        Master the Team Meeting

    Sign up for our weekly newsletter

    Interested in improving your business? Learn about fresh research and ideas from Harvard Business School faculty.
    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    ǁ
    Campus Map
    Harvard Business School Working Knowledge
    Baker Library | Bloomberg Center
    Soldiers Field
    Boston, MA 02163
    Email: Editor-in-Chief
    →Map & Directions
    →More Contact Information
    • Make a Gift
    • Site Map
    • Jobs
    • Harvard University
    • Trademarks
    • Policies
    • Accessibility
    • Digital Accessibility
    Copyright © President & Fellows of Harvard College