Science →
- 13 Nov 2019
- Working Paper Summaries
Shareholder Activism and Firms’ Voluntary Disclosure of Climate Change Risks
Shareholder resolutions typically fail, and often by a wide margin. So why do active investors bother? It turns out that resolutions nonetheless can influence corporate transparency. Specifically, after being targeted with shareholder resolutions on environmental topics, this research shows that companies are more likely to publicly disclose their climate change risks—and that such disclosure increases these companies’ valuation.
- 06 Nov 2019
- Op-Ed
Torched Planet: The Business Case to Reinvent Almost Everything
With climate change scorching the planet, business leaders have a once-in-a-lifetime opportunity to change the world—and make money in the process, says Rebecca Henderson. Open for comment; 0 Comments.
- 23 Oct 2019
- Working Paper Summaries
Decarbonization Factors
This paper contributes to a growing knowledge base about how climate change impacts investor expectations, capital allocations and thereby pricing and returns. It provides actionable insights into how to decarbonize portfolios and evaluate the likely performance and carbon exposure differences across strategies.
- 14 Oct 2019
- Working Paper Summaries
Undisclosed Debt Sustainability
Presenting a scenario in which non-Paris Club lending and borrowing is fully disclosed, this study illustrates that transparency has potential effects of decreased debt sustainability for investors such as China, and significant welfare gains for recipient countries. Effects are particularly strong if the debt is large.
- 07 Sep 2019
- Op-Ed
Even for Non-Believers, These Are the Next Steps on Climate Change
Are there immediate steps business and government should take to address climate change? Somewhere between trillion-dollar solutions and the next eco-calamity are opportunities to take action, argues John Macomber. Open for comment; 0 Comments.
- 23 Aug 2019
- Sharpening Your Skills
Has the Corporate Mission Just Been Disrupted?
In a recent statement from the Business Roundtable, 200 powerful CEOs said corporations should widen their missions beyond just maximizing profits for shareholders. Open for comment; 0 Comments.
- 20 Aug 2019
- Cold Call Podcast
Should a Pension Fund Try to Change the World?
Can inclusivity, sustainability, and better governance boost economies? Rebecca Henderson and George Serafeim discuss the impact investing efforts of GPIF, Japan’s government pension fund. Open for comment; 0 Comments.
- 05 Jun 2019
- Working Paper Summaries
How Transparency into Internal and External Responsibility Initiatives Influences Consumer Choice
Three studies examined how firms can use transparency into social and environmental responsibility initiatives to differentiate themselves in the consumer market. Results show that transparency into internal, responsible operations practices can increase sales at least as much as transparency into external, corporate social responsibility practices, if not more so.
- 06 May 2019
- Research & Ideas
Consumers Blame Business for Global Health Problems. Can Business Become the Solution?
Millions of people have been harmed by cigarettes, defective merchandise, pollution, addiction and other business by-products. now, pioneering companies are exploring healthier ways to operate, say Amy C. Edmondson and Dr. Howard K. Koh. Open for comment; 0 Comments.
- 18 Apr 2019
- Research & Ideas
Open Innovation Contestants Build AI-Based Cancer Tool
Radiation oncologists are few in number, especially if you are nowhere near a cancer facility. Could artificial intelligence be used to deliver an oncologist's skills for radiation therapy? Karim R. Lakhani discusses a unique open innovation experiment. Open for comment; 0 Comments.
- 28 Feb 2019
- Cold Call Podcast
Pursuing Precision Medicine at Intermountain Healthcare
What happens when Intermountain Healthcare invests resources in an innovative precision medicine unit to provide life-extending, genetically targeted therapies to late-stage cancer patients? Professors Richard Hamermesh and Kathy Giusti discuss the case and its connections to their work with the Kraft Precision Medicine Accelerator. Open for comment; 0 Comments.
- 19 Feb 2019
- Working Paper Summaries
Relative Performance Transparency: Effects on Sustainable Choices
Encouraging consumers to purchase a more sustainable product or use resources more responsibly is a key challenge for society. This paper discusses experiments involving more than 7,000 participants to shed light on how information and its presentation regarding sustainable performance can be a tool for enhancing sustainable choices in practice.
- 11 Feb 2019
- Research & Ideas
The Business of Saving the Planet
The biggest challenge facing today's business leaders? Putting their operations in harmony with the environment. Read the latest research around building sustainability into business processes and management practices. Open for comment; 0 Comments.
- 04 Feb 2019
- Working Paper Summaries
Understanding and Overcoming Roadblocks to Environmental Sustainability. Past Roads and Future Prospects
At a summer 2018 Harvard Business School conference, historians, scholars, and business professionals debated barriers and opportunities for business and environmental sustainability. Although ideas of a future path differed, many participants said sustainability objectives based on voluntary firm action have become diffuse, making progress difficult.
- 04 Feb 2019
- Book
Green Businesses Are Incredibly Difficult to Make Profitable. Try It Anyway
Making a business successful is a challenge in itself, but making a green business profitable is an even harder journey. For society's sake, entrepreneurs must be prepared to make that journey, says Geoffrey Jones. Open for comment; 0 Comments.
- 29 Jan 2019
- Research & Ideas
'Green Bonds' May Be Our Best Bet for Environmental Damage Control
The popularity of green bonds as a way to finance environmentally friendly projects is on the upswing, say Malcolm Baker and George Serafeim. Open for comment; 0 Comments.
- 22 Jan 2019
- Working Paper Summaries
Corporate Sustainability: A Strategy?
Between 2012 and 2017, companies within most industries adopted an increasingly similar set of sustainability practices. This study examines the interplay between common and strategic practices. This dynamic distinction helps for understanding whether and how sustainability practices can help companies establish a competitive advantage over time.
- 04 Jan 2019
- Working Paper Summaries
The Digital Commons: Tragedy or Opportunity? A Reflection on the 50th Anniversary of Hardin’s Tragedy of the Commons
Garrett Hardin’s Science article “The Tragedy of the Commons” 50 years ago focused on a physical world where common goods are finite and rivalrous. By contrast, this paper explores the digital commons, calling for better understanding of its long-term impact and for government policies supporting benefits while mitigating costs.
- 03 Jan 2019
- Working Paper Summaries
Financing the Response to Climate Change: The Pricing and Ownership of US Green Bonds
Green bonds are used for environmentally friendly purposes like renewable energy. Complementing previous research, this paper explores the US corporate and municipal green bond and shows that a subset of investors is willing to give up some return to hold green bonds.
Pathways to Materiality: How Sustainability Issues Become Financially Material to Corporations and Their Investors
This paper provides a framework for understanding and predicting how environmental, social, and governance (ESG) issues become financially material.