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  • December 2003 (Revised November 2015)
  • Background Note

The Fiduciary Relationship: A Legal Perspective

By: Lynn Sharp Paine
Discusses the concept of a fiduciary, as developed in the Anglo-American common law tradition, and outlines the principal differences between the legal standard applied to fiduciaries compared to ordinary arms'-length contractors. View Details
Keywords: Ethics; Assets; Financial Management; Common Law; Standards
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  • Article

Professionalism, Fiduciary Duty, and Health-Related Business Leadership

By: Joshua D. Margolis
Expanding fiduciary duty to leaders of health-related businesses can help leaders meet the challenges of caring for not only the corporation and shareholders but also the patients and medical professionals. How should leaders of health-related businesses weigh the... View Details
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  • 13 May 2015
  • News

Professionalism, Fiduciary Duty, and Health-Related Business Leadership

  • June 2019
  • Article

Brokers vs. Retail Investors: Conflicting Interests and Dominated Products

By: Mark Egan
I study how brokers distort household investment decisions. Using a novel convertible bond dataset, I find that consumers often purchase dominated bonds—cheap and expensive versions of otherwise identical bonds coexist in the market. The empirical evidence suggests... View Details
Keywords: Brokers; Fiduciary Standard; Consumer Finance; Structured Products; Household; Investment; Decisions; Motivation and Incentives; Conflict of Interests
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  • 2014
  • Chapter

Promoting Corporate Sustainability through Integrated Reporting: The Role of Investment Fiduciaries and the Responsibilities of the Corporate Board

By: Robert G. Eccles, J. Herron and George Serafeim
This book is a comprehensive reference work exploring recent changes and future trends in the principles that govern institutional investors and fiduciaries. A wide range of contributors offer new perspectives on dynamics that drive the current emphasis on short-term... View Details
Keywords: Governance; Integrated Corporate Reporting; Institutional Investing; Financial Services Industry
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  • winter 1988
  • Article

Management Buyouts and Managerial Efforts

By: Robert F. Bruner and Lynn S. Paine
Management buyouts, which have played an important role in the recent wave of corporate restructurings, have been criticized from several directions. This article addresses the problems created by management's conflict of interest. As members of the buyout team,... View Details
Keywords: Buyout; Ethical Decision Making; Management; Leveraged Buyouts; Ethics; Decision Making
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  • 22 Mar 2018
  • News

Sustainability: A New Way of Doing Business

  • February 2010
  • Case

Burt's Bees: Balancing Growth and Sustainability (Multimedia)

By: Christopher Marquis
The case examines sustainability initiatives at Burt's Bees, with video segments that detail the company's history, leadership, and implementation of ambitious 2020 sustainability goals. The company traces its roots to 1984, when Roxanne Quinby and Burt Schavitz teamed... View Details
Keywords: Balance and Stability; Leadership; Problems and Challenges; Business or Company Management; Growth Management; Organizational Culture; Corporate Social Responsibility and Impact; Environmental Sustainability; Mergers and Acquisitions; Social Enterprise; Organizational Change and Adaptation; Ethics
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  • Article

ESG Integration in Investment Management: Myths and Realities

By: Sakis Kotsantonis, Christopher Pinney and George Serafeim
The authors’ aim in this article is to set the record straight on the financial performance of sustainable investing while also correcting a number of other widespread misconceptions about this rapidly growing set of principles and methods. Myth Number 1:... View Details
Keywords: ESG; Sustainability; Investment Management; Finance; Corporate Social Responsibility; Integrated Corporate Reporting; Corporate Social Responsibility and Impact; Investment; Environmental Sustainability; Corporate Governance
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  • Research Summary

Sustainability and Integrated Reporting

A sustainable strategy for a company is one that enables it to create value for shareholders over the long term while contributing to a sustainable society. In doing so, it must balance the needs of different types of providers of financial capital (e.g.,... View Details

Keywords: Sustainability; Sustainability Reporting
  • Web

Leadership - Faculty & Research

organizations that can innovate time and again to address the challenges we face as a global community. Article Professionalism, Fiduciary Duty, and Health-Related Business Leadership By: Joshua D. Margolis Expanding View Details
  • 31 Mar 2009
  • First Look

First Look: March 31, 2009

expenses between the businesses in a way detrimental to Friendly shareholders but personally advantageous to the CEO. Further, Blake believed that Friendly's board of directors was not meeting their fiduciary obligations to shareholders... View Details
Keywords: Martha Lagace
  • 20 Dec 2011
  • First Look

First Look: December 20

designed as modular systems. Finally, it analyzes in detail the strategy of capturing value by maintaining exclusive control of an essential module in an open system. Download the paper: http://www.hbs.edu/research/pdf/12-040.pdf View Details
Keywords: Carmen Nobel
  • 17 Apr 2022
  • Book

How to Avoid the 'Ethical Slide' That Leads Companies Astray

promotional talking points for companies. Rather, they’ve become crucial for a corporation’s success. As the authors write, “Organizations and societies with high ethical standards tend to flourish, while those with weak ethics often... View Details
Keywords: by Lane Lambert
  • Web

Case Studies - Social Impact Collaboratory

investors as well as trustees of leading nonprofits had expressed uncertainty about whether MRIs were compatible with a board’s fiduciary duties. Darren wondered if his board held the same view. This case will explore the process and... View Details
  • 12 Jul 2004
  • Research & Ideas

Enron’s Lessons for Managers

new rules, such as the documentation of internal controls as dictated by the Sarbanes-Oxley Act, are turning out to be extremely expensive to implement. The new rules for the corporate governance system highlight three assumptions, he said: 1. The minimal View Details
Keywords: by Martha Lagace
  • 12 Nov 2021
  • News

Alumni Business Leaders on Confronting the Climate Change Challenge

one million homes. In the past 12 years, I have seen technology rise to the opportunity. A 1.5 MW machine that was the standard platform in the past has since evolved into a machine that produces six times more today. This has allowed the... View Details
  • 02 Jan 2018
  • News

Reconsidering Retirement

fiduciary standard for clients. Rebalance now has $525 million under management, but the real satisfaction comes from seeing clients discover a smarter way to save for retirement. “Our clients are smart, and... View Details
Keywords: April White; Securities, Commodities, and Other Financial Investments; Finance
  • 31 Jan 2012
  • First Look

First Look: Jan. 31

vague, unrealistically grandiose goals. The research also revealed ways in which top managers can avoid these traps. Read the paper: http://www.mckinseyquarterly.com/Governance/Leadership/How_leaders_kill_meaning_at_work_2910 Fiduciary... View Details
Keywords: Sean Silverthorne & Carmen Nobel
  • 12 Jul 2011
  • First Look

First Look: July 12

experiment to examine the effect of management fiduciary duties on equity‐debt conflicts. A 1991 Delaware bankruptcy ruling changed the nature of corporate directors' fiduciary duties in firms incorporated... View Details
Keywords: Carmen Nobel