Harvard Business Review

APRIL 16, 2015

It’s been more than 50 years since Nobel prizewinners Franco Modigliani and Merton Miller identified return on investments as a major component of value creation (and value destruction). This failure to even mention return on capital seems perverse. It is, in fact, the salt in the value recipe.

CEO 8

CEO ROIC Cost of Capital Merton 8

Harvard Business Review

FEBRUARY 25, 2011

Google outgoing CEO Eric Schmidt liked to think of his online search tool as a "serendipity engine.". Merton and Elinor Barber.). If serendipity is a capability, then how is it developed, protected and sustained? All the above discoveries were serendipitous, yet much less lucky than popularly believed. Watson and Crick did.

Merton 15

Merton Creativity Skills Innovation 15

Harvard Business Review

SEPTEMBER 29, 2014

Consider first the increasing use of auctions, which have a distinguished history in the development of economics. They might be surprised at how certain economic notions have been directly applied in business, with largely positive results. Here a few notable examples. Admittedly, better pricing of options has been a mixed blessing.

Strategy 12

Strategy Black-Scholes Airlines Price 12