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All HBS Web
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- Faculty Publications (974)
- Article
Core Earnings: New Data and Evidence
By: Ethan Rouen, Eric C. So and Charles C.Y. Wang
Using a novel dataset, we show that components of firms' GAAP earnings stemming from ancillary business activities or transitory shocks are significant in frequency and magnitude. These components have grown over time and are dispersed across various sections of the...
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Keywords:
Core Earnings;
Transitory Earnings;
Non-operating Earnings;
Quantitative Disclosures;
Equity Valuation;
Big Data;
Business Earnings;
Financial Reporting;
Valuation;
Analytics and Data Science
Rouen, Ethan, Eric C. So, and Charles C.Y. Wang. "Core Earnings: New Data and Evidence." Journal of Financial Economics 142, no. 3 (December 2021): 1068–1091.
- 2021
- Working Paper
The Political Economy of Anti-Bribery Enforcement
By: Lauren Cohen and Bo Li
This paper documents novel evidence on the influence of political incentives in the regulatory enforcement of foreign bribery. Using exogenous variation in the timing and geographic location of U.S. Congressional elections, we find that the probability of a Foreign...
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Keywords:
Bribery;
Regulatory Enforcement;
Crime and Corruption;
Governance Controls;
Political Elections
Cohen, Lauren, and Bo Li. "The Political Economy of Anti-Bribery Enforcement." NBER Working Paper Series, No. 29624, December 2021.
- Article
Extension Request Avoidance Predicts Greater Time Stress Among Women
By: Ashley V. Whillans, Jaewon Yoon, Aurora Turek and Grant E. Donnelly
In nine studies using archival data, surveys, and experiments, we identify a factor that predicts gender differences in time stress and burnout. Across academic and professional settings, women are less likely to ask for more time when working under adjustable...
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Whillans, Ashley V., Jaewon Yoon, Aurora Turek, and Grant E. Donnelly. "Extension Request Avoidance Predicts Greater Time Stress Among Women." Proceedings of the National Academy of Sciences 118, no. 45 (November 9, 2021).
- Article
Complementarity between Audited Financial Reporting and Voluntary Disclosure: The Case of Former Andersen Clients
By: Richard Frankel, Alon Kalay, Gil Sadka and Yuan Zou
Prior literature presents various perspectives on the role of financial reporting. One view is that mandatory periodic reporting disciplines managers and encourages timely voluntary disclosure. We examine this "confirmation hypothesis" using the shock to financial...
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Keywords:
Financial Disclosure;
Mandatory Reporting;
Reliability;
Voluntary Disclosure;
Financial Reporting;
Quality;
Corporate Disclosure
Frankel, Richard, Alon Kalay, Gil Sadka, and Yuan Zou. "Complementarity between Audited Financial Reporting and Voluntary Disclosure: The Case of Former Andersen Clients." Accounting Review 96, no. 6 (November 2021): 215–238.
- 2024
- Working Paper
Faith and Assimilation: Italian Immigrants in the U.S.
By: Stefano Gagliarducci and Marco Tabellini
How do ethnic religious organizations influence immigrant assimilation? To answer this question, we assemble novel data from the Catholic directories to measure the presence of Italian Catholic churches in the US between 1890 and 1920, when four million Italians moved...
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Gagliarducci, Stefano, and Marco Tabellini. "Faith and Assimilation: Italian Immigrants in the U.S." Harvard Business School Working Paper, No. 22-029, November 2021. (Revised January 2024. Also available from NBER and featured in NBER Digest and VoxEU. Conditionally accepted at the Economic Journal.)
- 2021
- Working Paper
Friends and Family Money: P2P Transfers and Financially Fragile Consumers
By: Tetyana Balyuk and Emily Williams
We assess the impact that real time money transfer technology has on consumer outcomes, particularly during periods of financial fragility. We do this by developing a new data set that documents use of Zelle—the most widely used P2P money transfer technology in the...
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Keywords:
P2P Money Transfers;
Real Time Payments;
Fintech;
Finance;
Information Technology;
Personal Finance;
Financial Condition
Balyuk, Tetyana, and Emily Williams. "Friends and Family Money: P2P Transfers and Financially Fragile Consumers." Working Paper, November 2021.
- Article
Using Fresh Starts to Nudge Increased Retirement Savings
By: John Beshears, Hengchen Dai, Katherine L. Milkman and Shlomo Benartzi
We conducted a field experiment to study the effect of framing future moments in time as new beginnings (or “fresh starts”). University employees (N=6,082) received mailings with an opportunity to choose between increasing their contributions to a savings plan...
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Keywords:
Choice Architecture;
Randomized Field Experiment;
Savings;
New Beginning;
Fresh Start;
Saving;
Retirement;
Behavior
Beshears, John, Hengchen Dai, Katherine L. Milkman, and Shlomo Benartzi. "Using Fresh Starts to Nudge Increased Retirement Savings." Organizational Behavior and Human Decision Processes 167 (November 2021): 72–87.
- October 2021 (Revised December 2021)
- Case
Customer-Centric Design with Artificial Intelligence: Commonwealth Bank
By: Karim R. Lakhani, Yael Grushka-Cockayne, Jin Hyun Paik and Steven Randazzo
As Commonwealth Bank (CommBank) CEO Matt Comyn delivered the full financial year results in August 2021 over videoconference, it took less than two minutes for him to make his first mention of the organization's Customer Engagement Engine (CEE), the AI-driven customer...
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Keywords:
Artificial Intelligence;
Customer-centricity;
Banks and Banking;
Customer Focus and Relationships;
Technological Innovation;
Transformation;
Organizational Change and Adaptation;
Performance;
AI and Machine Learning;
Financial Services Industry;
Australia
Lakhani, Karim R., Yael Grushka-Cockayne, Jin Hyun Paik, and Steven Randazzo. "Customer-Centric Design with Artificial Intelligence: Commonwealth Bank." Harvard Business School Case 622-065, October 2021. (Revised December 2021.)
- October 2021 (Revised February 2022)
- Case
Newsweek: Driving a Digital First Strategy
By: Lynda M. Applegate and Suraj Srinivasan
The case describes the transformation at Newsweek, the storied news magazine that had fallen from its commanding position as a premier print publication unable to find its footing in the fast changing digital media landscape. After buying Newsweek and taking over as...
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Keywords:
Transformation;
Strategy;
Internet and the Web;
Analytics and Data Science;
Performance Evaluation;
Partners and Partnerships
Applegate, Lynda M., and Suraj Srinivasan. "Newsweek: Driving a Digital First Strategy." Harvard Business School Case 822-052, October 2021. (Revised February 2022.)
- October 13, 2021
- Editorial
How Companies Can Improve Employee Engagement Right Now
By: Daniel Stein, Nick Hobson, Jon M. Jachimowicz and Ashley Whillans
A year and a half into the pandemic, employees’ mental “surge capacity” is likely diminished. Managers must take proactive steps to increase employee engagement, or risk losing their workforce. Engaged employees perform better, experience less burnout, and stay in...
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Keywords:
Employee Retention;
Employee Engagement;
Employee Relationship Management;
Work-Life Balance
Stein, Daniel, Nick Hobson, Jon M. Jachimowicz, and Ashley Whillans. "How Companies Can Improve Employee Engagement Right Now." Harvard Business Review (website) (October 13, 2021).
- October 7, 2021
- Guest Column
Carbon Might Be Your Company’s Biggest Financial Liability
By: Robert G. Eccles and John Mulliken
The price of carbon may be zero in many places today, but it’s unlikely to remain zero for long. That means that many companies have hidden liabilities on their books. To cover their carbon short position, executives can take several steps: Measure the position in...
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Eccles, Robert G., and John Mulliken. "Carbon Might Be Your Company’s Biggest Financial Liability." Government Policy and Regulation. Harvard Business Review (website) (October 7, 2021).
- October 2021 (Revised October 2022)
- Case
The Opioid Settlement and Controversy Over CEO Pay at AmerisourceBergen
By: Suraj Srinivasan and Li-Kuan Ni
In 2020, AmerisourceBergen Corporation, a Fortune 50 company in the drug distribution industry, agreed to settle thousands of lawsuits filed nationwide against the company for its opioid distribution practices that critics alleged had contributed to the nationwide...
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Keywords:
Opioids;
Drug;
Investors;
Shareholder Activism;
Investment Activism;
Executive Compensation;
Corporate Accountability;
Corporate Governance;
Governance Compliance;
Governance Controls;
Risk Management;
Corporate Social Responsibility and Impact;
Business and Shareholder Relations;
Business and Stakeholder Relations;
Legal Liability;
Distribution Industry;
Health Industry;
Pharmaceutical Industry;
United States;
West Virginia;
Tennessee;
Ohio;
Pennsylvania
Srinivasan, Suraj, and Li-Kuan Ni. "The Opioid Settlement and Controversy Over CEO Pay at AmerisourceBergen." Harvard Business School Case 122-014, October 2021. (Revised October 2022.)
- 2021
- Working Paper
A (Dynamic) Investigation of Stereotypes, Belief-Updating, and Behavior
By: Katherine B. Coffman, Paola Ugalde Araya and Basit Zafar
Many decisions—such as what educational or career path to pursue—are dynamic in nature, with individuals receiving feedback at one point in time and making decisions later. Using a controlled experiment, with two sessions one week apart, we analyze the dynamic effects...
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Keywords:
Feedback;
Beliefs;
Stereotypes;
Self-assessment;
Gender Gap;
Performance;
Perception;
Gender;
Decision Making;
Behavior
Coffman, Katherine B., Paola Ugalde Araya, and Basit Zafar. "A (Dynamic) Investigation of Stereotypes, Belief-Updating, and Behavior." NBER Working Paper Series, No. 29382, October 2021.
- October 1, 2021
- Article
An Evaluation of Cross-efficiency Methods: With an Application to Warehouse Performance.
By: B.M. Balk, M.R. De Koster, Christian Kaps and J.L. Zofio
Cross-efficiency measurement is an extension of Data Envelopment Analysis that allows for tie-breaking ranking of the Decision Making Units (DMUs) using all the peer evaluations. In this article we examine the theory of cross-efficiency measurement by comparing a...
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Keywords:
Efficiency Analysis;
Performance Benchmarking;
Warehousing;
Analytics and Data Science;
Performance Evaluation;
Measurement and Metrics;
Mathematical Methods
Balk, B.M., M.R. De Koster, Christian Kaps, and J.L. Zofio. "An Evaluation of Cross-efficiency Methods: With an Application to Warehouse Performance." Art. 126261. Applied Mathematics and Computation 406 (October 1, 2021).
- October 2021
- Article
Communicating Resource Scarcity and Interpersonal Connection
By: Grant E. Donnelly, Anne V. Wilson, Ashley V. Whillans and Michael I. Norton
Consumers often cite insufficient time or money as an excuse for rejecting social invitations. We explore the effectiveness of these excuses in preserving interpersonal relationships. Six studies—including perceptions of couples planning their wedding—demonstrate that...
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Keywords:
Time;
Interpersonal Relationships;
Communication;
Money;
Relationships;
Interpersonal Communication
Donnelly, Grant E., Anne V. Wilson, Ashley V. Whillans, and Michael I. Norton. "Communicating Resource Scarcity and Interpersonal Connection." Journal of Consumer Psychology 31, no. 4 (October 2021): 726–745.
- October 2021
- Article
Directors' Perceptions of Board Effectiveness and Internal Operations
By: J. Yo-Jud Cheng, Boris Groysberg, Paul M. Healy and Rajesh Vijayaraghavan
We contribute to the growing literature on the effectiveness of corporate boards by examining the effect of two insights that have been largely unexplored in prior studies that use public data. First, since boards’ responsibilities are wide-ranging, more holistic...
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Keywords:
Boards Of Directors;
Corporate Governance;
Governing and Advisory Boards;
Performance Effectiveness;
Perception
Cheng, J. Yo-Jud, Boris Groysberg, Paul M. Healy, and Rajesh Vijayaraghavan. "Directors' Perceptions of Board Effectiveness and Internal Operations." Management Science 67, no. 10 (October 2021): 6399–6420.
- September 2021
- Article
Did Technology Contribute to the Housing Boom? Evidence from MERS
By: Stefan Lewellen and Emily Williams
We examine the effects of the Mortgage Electronic Registration System, or MERS, on mortgage origination volumes and foreclosure rates prior to the Great Recession. MERS was introduced in the late 1990s and significantly reduced the cost and time associated with...
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Keywords:
Credit Supply;
Housing Boom;
Financial Innovation;
Nonbank Lenders;
Mortgages;
Credit;
Expansion;
Information Technology;
Outcome or Result
Lewellen, Stefan, and Emily Williams. "Did Technology Contribute to the Housing Boom? Evidence from MERS." Journal of Financial Economics 141, no. 3 (September 2021): 1244–1261.
- September 17, 2021
- Article
AI Can Help Address Inequity—If Companies Earn Users' Trust
By: Shunyuan Zhang, Kannan Srinivasan, Param Singh and Nitin Mehta
While companies may spend a lot of time testing models before launch, many spend too little time considering how they will work in the wild. In particular, they fail to fully consider how rates of adoption can warp developers’ intent. For instance, Airbnb launched a...
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Keywords:
Artificial Intelligence;
Algorithmic Bias;
Technological Innovation;
Perception;
Diversity;
Equality and Inequality;
Trust;
AI and Machine Learning
Zhang, Shunyuan, Kannan Srinivasan, Param Singh, and Nitin Mehta. "AI Can Help Address Inequity—If Companies Earn Users' Trust." Harvard Business Review Digital Articles (September 17, 2021).
- September 2021 (Revised December 2021)
- Case
STARZPLAY: Shooting for the Stars
By: Elie Ofek, Marco Bertini and Alpana Thapar
In mid-2021, Maaz Sheikh, cofounder and CEO of STARZPLAY, a Dubai-based subscription video on demand (SVOD) provider that catered to the Middle East and North Africa region, was wrestling with how to find the right balance between continued subscriber growth and...
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Keywords:
Pricing;
Growth;
Profitability;
Subscription Business;
Business Model Innovation;
Fintech;
Subscription;
Performance Measurement;
Promotions;
International Marketing;
Streaming;
Competition;
Marketing;
Price;
Strategy;
Entrepreneurship;
Performance;
Measurement and Metrics;
Business Model;
Media and Broadcasting Industry;
Middle East;
North Africa
Ofek, Elie, Marco Bertini, and Alpana Thapar. "STARZPLAY: Shooting for the Stars." Harvard Business School Case 522-005, September 2021. (Revised December 2021.)
- September 2021
- Case
Worldreader: Helping Readers Build a Better World
By: Marco Bertini, Elie Ofek and Julia Kelley
Founded in 2010, Worldreader was an international nonprofit organization that promoted reading to children around the world. For many years, Worldreader distributed e-readers to under-resourced communities and funded its operations primarily through philanthropic...
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Keywords:
Subscription Model;
Price;
Financial Strategy;
Education;
Early Childhood Education;
Learning;
Geography;
Geographic Scope;
Global Range;
Goals and Objectives;
Marketing;
Marketing Strategy;
Markets;
Organizations;
Mission and Purpose;
Social Enterprise;
Non-Governmental Organizations;
Nonprofit Organizations;
Society;
Social Issues;
Strategy;
Commercialization;
Expansion;
Segmentation;
Education Industry;
Africa;
Asia;
Latin America;
Europe;
North and Central America;
South America
Bertini, Marco, Elie Ofek, and Julia Kelley. "Worldreader: Helping Readers Build a Better World." Harvard Business School Case 522-003, September 2021.