In one of the more heavily cited articles in the area of disclosure, Krishna Palepu and co-author Paul Healy examine how disclosure of information by companies impacts stock performance. Krishna Palepu and Paul Healy have written numerous other articles in the area of disclosure and valuation, detailed more fully on the Harvard Business School website.

In this Faculty Seminar Series CD, Harvard Business School Professor Krishna Palepu explores the links between corporate governance and American capital markets and the need to reform our market institutions.

We will assess how governance and incentive problems contributed to Enron’s rise and fall. A well-functioning capital market creates appropriate linkages of information, incentives, and governance between managers and investors. This process is supposed to be carried out through a network of intermediaries. We show that despite this elaborate corporate governance and inter-mediation network, Enron… Read more »

Over the past two-plus decades, as emerging market economies liberalized, multi-nationals stormed in. Many local companies lost market share or sold off businesses as a result, but some fought back. They held their own against the onslaught, restructured their businesses, exploited new opportunities, and built world-class companies that today are giving their global rivals a run for their money.

Western experts have often urged the breakup of the large, diversified business groups that dominate the private sector in many emerging economies. But a rush to dismantle these groups would be a mistake, say HBS Professors Tarun Khanna and Krishna Palepu. Emerging economies lack a soft infrastructure–the banks, business schools, corporate governance processes, and so on that are the foundation of economic growth. Many business groups in emerging markets make up for the absence or weakness of these market intermediaries by filling in themselves.

Focus is good advice in New York or London, but something important gets lost in translation when that advice is given to groups in emerging markets. Western companies take for granted a range of institutions that support their business activities, but many of these institutions are absent in other regions of the world.

This book, edited by Jay Lorsch, with a chapter by Krishna Palepu,  gathers the leading voices from business and academia to address the challenges of governance in the 21st century. We are at a crucial juncture in the evolution of business and the economy. We must now reshape the structures and practices of business leadership… Read more »

Business Analysis and Valuation:  Using Financial Statements, 5th edition. View on Cengage View on Google Books Co-Authored by Krishna Palepu and Paul Healy (Cengage 2012) Business Analysis and Valuation by Krishna Palepu and Paul Healy is the premier textbook used for teaching business valuation in MBA programs across the world. Business Analysis and Valuation is unique… Read more »

Already cited by the Financial Times, Forbes.com, The Economic Times, WSJ/Mint and several other prominent global business publications, Winning in Emerging Markets is quickly becoming the go-to book for mapping a strategy for entering new markets—and then quickly gaining a competitive edge in those high growth regions.

Advancing the discussion about emerging markets themselves and how organizations can best leverage the potential of these regions, Tarun Khanna and Krishna Palepu – both well respected thinkers on the subject – argue there is more to sizing up these markets than just evaluating data points related to size, population, and growth potential. In fact, they say the possibility to expand a company’s progress in developing economies is to first asses the area’s lack of institutional infrastructure—and then to formulate strategies around what the authors call “institutional voids” to the firm’s advantage. Khanna and Palepu say the primary exploitable characteristic of an emerging market are such voids, and though they create challenges, they also provide major opportunity both for multinationals and local contenders.

Winning in Emerging Markets serves as a playbook for measuring a market’s potential and for crafting a strategy to succeed there.