Publications

Educators

Web

3.9 Annual Notice: Higher Education Opportunity Act - MBA

3. Financial Obligations 3.9 Annual Notice: Higher Education Opportunity Act Welcome to HBS Being a Student at HBS 1. Academic Information & Policies 2. Integrity & Standards of Conduct 3. View Details

June 2004
Article

Market Liquidity as a Sentiment Indicator

By: Malcolm Baker and Jeremy Stein

We build a model that helps to explain why increases in liquidity-such as lower bid-ask spreads, a lower price impact of trade, or higher turnover-predict lower subsequent returns in both firm-level and aggregate data. The model features a class of irrational... View Details

Keywords: Markets; Financial Liquidity; Price; Trade; Sales; Equity; Information; Management Analysis, Tools, and Techniques; Accounting Industry

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June 1995 (Revised May 1996)
Teaching Note

American Express TRS Charge-Card Receivables and Lehman Brothers and the Securitization of American Express Charge-Card Receivables TN

By: Andre F. Perold and Wai Lee

Teaching Note for (9-293-120) and (9-293-121). View Details

Keywords: Credit Cards; Accounting; Financial Services Industry

October 2000
Article

The Equity Share in New Issues and Aggregate Stock Returns

By: Malcolm Baker and Jeffrey Wurgler

The share of equity issues in total new equity and debt issues is a strong predictor of U.S. stock market returns between 1928 and 1997. In particular, firms issue more equity than debt just before periods of low market returns. The equity share in new issues has... View Details

Keywords: Equity; Borrowing and Debt; Stocks; Markets; Debt Securities; Forecasting and Prediction; Accounting Industry; United States

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November 2010 (Revised December 2011)
Supplement

Oriflame S.A. (C)

By: David F. Hawkins and Karol Misztal

Notes from Oriflame's 2009 annual report relevant to the assessment of the monetary impact of Oriflame's FX risk management actions. View Details

Keywords: Financial Reporting; Financial Statements; International Accounting; Currency Exchange Rate; Annual Reports; Management Analysis, Tools, and Techniques; Risk Management; Standards; Beauty and Cosmetics Industry

Fast Answer

Fixed Income Research: bond data, ratings, and reports

Research Topics Suggested Resources Bond data FactSet A comprehensive platform used to analyze financial data from global fixed income markets. Individual accounts needed. Please see More Info page... View Details

02 Dec 2013
Research & Ideas

Companies Choreograph Earnings Calls to Hide Bad News

(reported revenues before they were earned) or otherwise manipulated the books to make their earnings look better, were more likely to cast a call. "If you've been engaging in somewhat shady activity in your accounting books, the last... View Details

Keywords: by Julia Hanna; Financial Services

October 1985
Background Note

Interim Period Reporting and Analysis

By: David F. Hawkins

Keywords: Financial Reporting

29 Jan 2021
Blog Post

My HBS Student Loan Story: John Cortines (MBA 2015)

little brother. I went to Texas A&M, where I studied Engineering. I married my wife right out of college. I was working as a petroleum engineer and was making excellent money, which I think actually made the decision to get an MBA more difficult, because we already... View Details

May 2001 (Revised November 2014)
Background Note

The Income Statement

By: David F. Hawkins and Jacob Cohen

Includes a description of the common components of the income statement. Includes examples of the income statements of Home Depot, Inc., Lucent Technology, Inc., Gap, Inc., and McDonald's Corp. and lends itself to a brief discussion regarding these companies. View Details

Keywords: Business Earnings; Financial Statements

Educators

01 Oct 2002
News

Sam Hayes

Another crucial step would be to ensure that public accounting firms once again become bona fide watchdogs. Too often, lucrative consulting contracts have caused accounting firms to relax their auditing... View Details

Keywords: Garry Emmons

10 Jan 2005
Research & Ideas

Professors Introduce Valuation Software

elements of the firm's accounting if they believe that reported data do not capture the economic performance of the company. The model then provides standardized financial... View Details

Keywords: by Sean Silverthorne

April 2016
Teaching Note

The Fall of the 'Fabulous Fab'

By: Eugene F. Soltes

Teaching note for HBS Case#114-063 View Details

Keywords: Management; Corporate Accountability; Ethics; Financial Crisis; Finance; Financial Services Industry; United States

03 Apr 2019
Book

Fintech's Game-Changing Opportunities for Small Business

Artificial intelligence, machine learning, and big data will transform financial services and small-business lending long before they impact driverless cars, predicts Harvard Business School Senior Fellow Karen G. Mills. “As we speak,... View Details

Keywords: by Martha Lagace; Financial Services; Financial Services

December 1985 (Revised July 1993)
Case

Scovill, Inc.: NuTone Housing Group

Describes a conflict between the corporate controller and a division president about labor standards, which the division purposefully overstates to protect its margins. Illustrates the multiple roles of standards, and the roles of controllers and line management in... View Details

Keywords: Accounting; Standards; Management Teams; Conflict and Resolution

Educators

February 2001 (Revised April 2001)
Case

Warnaco Group, Inc. (B)

By: David F. Hawkins

Supplements the (A) case. View Details

Keywords: Financial Statements; Financial Reporting; Restructuring; Apparel and Accessories Industry; Retail Industry