Publications

14 Sep 2012
Working Paper Summaries

What Do Managers Do? Exploring Persistent Performance Differences among Seemingly Similar Enterprises

An abstract is unavailable at this time. View Details

Keywords: by Robert Gibbons & Rebecca Henderson

July 2020
Article

The Persistent Effect of Initial Success: Evidence from Venture Capital

By: Ramana Nanda, Sampsa Samila and Olav Sorenson

We use investment-level data to study performance persistence in venture capital (VC). Consistent with prior studies, we find that each additional IPO among a VC firm's first ten investments predicts as much as an 8% higher IPO rate on its subsequent investments,... View Details

Keywords: Performance; Monitoring; Selection; Status; Venture Capital; Performance Consistency; Investment

22 Feb 2017
Working Paper Summaries

Incentives, Peer Pressure, and Behavior Persistence

Keywords: by Susanna Gallani; Health

December 2014
Article

Market Competition, Earnings Management, and Persistence in Accounting Profitability Around the World

By: Paul M. Healy, George Serafeim, Suraj Srinivasan and Gwen Yu

We examine how cross-country differences in product, capital, and labor market competition, and earnings management affect mean reversion in accounting return on assets. Using a sample of 48,465 unique firms from 49 countries, we find that accounting returns mean... View Details

Keywords: Corporate Performance; Valuation; Equity Valuation; Persistence; Competitive Advantage; Institutions; Earnings Management; Labor Market; Capital Markets; Competition; Profit; Performance; Supply and Industry; Financial Statements; Government and Politics; Globalized Markets and Industries

SSRN

2012
Chapter

What Do Managers Do? Exploring Persistent Performance Differences among Seemingly Similar Enterprises

By: Rebecca Henderson and Robert Gibbons

Keywords: Management Practices and Processes; Performance Productivity

2012
Working Paper

What Do Managers Do? Exploring Persistent Performance Differences among Seemingly Similar Enterprises

By: Robert Gibbons and Rebecca Henderson

Social networks and social groups have both been seen as important to discouraging malfeasance and supporting the global pro-social norms that underlie social order, but have typically been treated either as pure substitutes or as having completely independent effects.... View Details

Keywords: Social Norms; Social Networks; Triadic Closure; Social Groups; Group Identity; Groups and Teams; Identity; Performance Consistency; Social and Collaborative Networks; Societal Protocols; Social Media

10 Feb 2017
Working Paper Summaries

The Persistent Effect of Initial Success: Evidence from Venture Capital

Keywords: by Ramana Nanda, Sampsa Samila, and Olav Sorenson; Financial Services

02 Feb 2009
Research & Ideas

The Success of Persistent Entrepreneurs

working paper, "Performance Persistence in Entrepreneurship". The news that successful experience, or performance persistence, pays off may not be news at all. But HBS researchers were surprised at just how... View Details

Keywords: by Sarah Jane Gilbert

2013
Working Paper

Is a VC Partnership Greater Than the Sum of Its Partners?

By: Michael Ewens and Matthew Rhodes-Kropf

This paper investigates whether individual venture capitalists have repeatable investment skill and to what extent their skill is impacted by the VC firm where they work. We examine a unique dataset that tracks the performance of individual venture capitalists'... View Details

Keywords: Investing; Persistence; Performance Persistence; Theory Of The Firm; Venture Capital; Organizations; Human Capital; Performance Evaluation

2022
Working Paper

An Anatomy of Performance Monitoring

By: Achyuta Adhvaryu, Anant Nyshadham and Jorge Tamayo

Performance monitoring is a mainstay management tool in most organizations. Yet we still know little about whether—and why—better monitoring yields better performance in practice. To shed light on these questions, we study the introduction of a performance monitoring... View Details

Keywords: Performance Monitoring; Worker Skills; Skill Depreciation; Managerial Inattention; On-the-job Training; Productivity; Multitasking; Quick Serve Restaurants; Performance Evaluation; Employees; Competency and Skills; Training; Performance Productivity; Management; Information Technology; Food and Beverage Industry; Puerto Rico

December 2002
Article

The Persistence of Emerging Market Equity Flows

By: K. A. Froot and J. Donohue

Keywords: Asset Pricing; Equity Investment; Forecasting and Prediction; Behavioral Finance; Stocks; Investment Return; Market Transactions; Performance Expectations; Financial Services Industry

September 2004
Article

Decomposing the Persistence of International Equity Flows

By: Kenneth A. Froot and J. Tjornhom Donohue

Keywords: Asset Pricing; Equity Investment; Forecasting and Prediction; Behavioral Finance; Stocks; Investment Return; Market Transactions; Performance Expectations; Personal Characteristics; Financial Services Industry

10 Jun 2019
Working Paper Summaries

Going Digital: Implications for Firm Value and Performance

Keywords: by Wilbur Chen and Suraj Srinivasan

Research Summary

Economics of Organization and Firm Performance

A great deal of theoretical and empirical research indicates that economic actors should organize activities so as to minimize the 'transaction costs' associated with managing these activities. But little is known about the consequences of violating this prescription.... View Details

2021
Working Paper

CEO Activism, Consumer Polarization, and Firm Performance

By: Young Hou and Christopher W. Poliquin

CEOs are increasingly engaging in activism on controversial social and political issues that do not directly affect their businesses. Simultaneously, the general public is increasingly polarized. We examine how CEO support for gun control after two mass shootings... View Details

Keywords: CEO Activism; Guns; Polarization; Non-market Strategy; Social Issues; Leadership; Consumer Behavior; Performance

Article

Value of New Performance Information in Healthcare: Evidence from Japan

By: Susanna Gallani, Takehisa Kajiwara and Ranjani Krishnan

Mandatory measurement and disclosure of outcome measures are commonly used policy tools in healthcare. The effectiveness of such disclosures relies on the extent to which the new information produced by the mandatory system is internalized by the healthcare... View Details

Keywords: Value Of Information; Feedback; Patient Satisfaction; Healthcare; Health Care and Treatment; Satisfaction; Information; Measurement and Metrics; Performance Improvement

2023
Article

Conduit Incentives: Eliciting Cooperation from Workers Outside of Managers' Control

By: Susanna Gallani

Can managers use monetary incentives to elicit cooperation from workers they cannot reward for their efforts? I study “conduit incentives,” an innovative incentive design, whereby managers influence bonus-ineligible workers’ effort by offering bonus-eligible employees... View Details

Keywords: Organizational Behavior Modification; Peer Monitoring; Persistence Of Performance Improvements; Crowding Out; Implicit Incentives; Compensation; Healthcare; Social Pressure; Image Motivation; Incentives; Motivation; Performance; Behavior; Motivation and Incentives; Compensation and Benefits; Governing Rules, Regulations, and Reforms; Organizational Culture; Health Industry; California

2008
Working Paper

Signaling Firm Performance Through Financial Statement Presentation: An Analysis Using Special Items

By: Edward J. Riedl and Suraj Srinivasan

This paper investigates whether managers' presentation of special items within the financial statements reflects economic performance or opportunism. Specifically, we assess special items presented as a separate line item on the income statement (income statement... View Details

Keywords: Financial Reporting; Financial Statements; Decision Choices and Conditions; Corporate Disclosure; Performance

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