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For the Last Time: Stock Options Are an Expense (Spanish version)
Bodie, Zvi; Kaplan, Robert S.; Merton, Robert C.Article HBS-R0303DAccounting and ControlShould stock options be recorded as an expense on a company's income statement and balance sheet, or should they remain where they are, relegated to footnotes? The authors believe the case for expensing options is overwhelming. In this article, Nobel laureate Robert Merton, one of the inventors of the Black-Scholes option-pricing model; his co-author on the classic textbook Finance, Zvi Bodie; and Robert Kaplan, creator of the Balanced Scorecard,...Starting at €8.20
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Real Problem with Pensions (Spanish version)
Merton, Robert C.Article HBS-F0412HAccounting and ControlNobel laureate Robert C. Merton explains that companies sometimes misvalue capital investment opportunities because they fail to adjust their cost-of-capital calculations to reflect pension risks.Starting at €8.20
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Innovation Risk: How to Make Smarter Decisions
Merton, Robert C.Article HBS-R1304B-EStrategyNew products and services are created to enable people to do tasks better than they previously could or do things they couldn't before. But innovations also carry risks. Just how risky an innovation turns out to be depends in great measure on the choices people make in using it. Attempts to gauge the riskiness of an innovation must take into account the limitations of the models--formal and informal--on which people base their decisions about how...Starting at €8.20
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Reverse Engineering Google's Innovation Machine
Iyer, Bala; Davenport, Thomas H.Article HBS-R0804C-EEven among internet companies, Google stands out as an enterprise designed with the explicit goal of succeeding at rapid, profuse innovation. Much of what the company does is rooted in its legendary IT infrastructure, but technology and strategy at Google are inseparable and mutually permeable - making it hard to say whether technology is the DNA of its strategy or the other way around. Whichever it is, Iyer and Davenport, of Babson College, beli...Starting at €8.20
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Making the Financial Markets Safe: A Conversation with Robert Merton
Merton, Robert C.; Champion, DavidArticle HBS-R0910J-EFinanceIn this edited conversation with HBR senior editor David Champion, Merton, a professor at Harvard Business School, casts light on the role of derivatives in the current financial crisis. Merton was awarded the Nobel Prize in 1997 for his part in developing a new method to value derivatives, and after publication of that development, the markets in derivatives exploded: Today, the estimated notional value of derivative contracts exceeds $500 trill...Starting at €8.20
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Una ingenier a inversa a la máquéina de innovación de Google
Iyer, Bala; Davenport, Thomas H.Article HBS-R0804CKnowledge and CommunicationIncluso entre las compañías de Internet, Google se destaca como una empresa diseñada con el objetivo explícito de tener éxito en la rápida innovación, profusa. Gran parte de lo que la compañía no tiene sus raíces en su legendaria infraestructura de TI, pero la tecnología y estrategia de Google son inseparables y mutuamente permeables - por lo que es difícil decir si la tecnología es el ADN de su estrategia o el otro alrededor de camino. Sea lo qu...Starting at €8.20
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Tres habilidades que cualquier Gerente del Siglo XXI necesita
Molinsky, Andrew; Davenport, Thomas H.; Iyer, Bala; Davidson, CathyArticle HBS-R1201NKnowledge and CommunicationDurante los últimos compañías década se han convertido en grupos más globales y de los empleados más diversas que nunca. Las organizaciones son menos jerárquica y más colaborativo. Y las oficinas de hoy en día están llenos de una vez distracciones tecnológicas inimaginables. Le preguntamos a los expertos en comunicación intercultural, las redes de información, y la ciencia de la atención que habilidades ejecutivos deben cultivar para hacer frente...Starting at €8.20
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The Crisis in Retirement Planning
Merton, Robert C.Article HBS-R1407B-EEconomicsCorporate America began to really take notice of the looming retirement crisis in the wake of the dot-com crash, when companies in major industries went bankrupt in large part because of their inability to meet their pension obligations. The result was an acceleration of America's shift away from employer-sponsored pension plans toward defined-contribution plans--epitomized by the ubiquitous 401(k)--which transfer the investment risk from the com...Starting at €8.20
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Three Skills Every 21st-Century Manager Needs
Molinsky, Andrew; Davenport, Thomas H.; Iyer, Bala; Davidson, CathyArticle HBS-R1201N-EOver the past decade companies have become more global and employee groups more diverse than ever before. Organizations are less hierarchical and more collaborative. And today's offices are full of once unimaginable technological distractions. We asked experts in cross-cultural communication, information networks, and the science of attention what skills executives should cultivate to tackle these new challenges. Molinsky thinks that managers mus...Starting at €8.20