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- Faculty Publications (37)
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- All HBS Web (71)
- Faculty Publications (37)
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- 02 Apr 2013
- First Look
First Look: April 2
https://www.hbs.edu/faculty/Pages/item.aspx?num=41870 Expected Returns Dynamics Implied by Firm Fundamentals By: Lyle, Matthew R., and Charles C.Y. Wang Abstract—We provide a tractable stock valuation model to study the dynamics of firm-level expected... View Details
Keywords: Sean Silverthorne
- 23 Aug 2011
- First Look
First Look: August 23
measured by the maximum Sharpe ratio achievable. We propose a model in which menu setters differ in their ability to preselect the menu. We show that when the cost of increasing the menu size is sufficiently small, a lower-ability menu... View Details
Keywords: Sean Silverthorne
- 13 Jan 2015
- First Look
First Look: January 13
115-013 Valuation Ratios in the Airline Industry, 2013 Examines factors underlying differences in valuation multiples (price-to-earnings and price-to-book) across four firms in... View Details
Keywords: Sean Silverthorne
- 16 Jun 2015
- First Look
First Look: June 16, 2015
Abstract—Under fairly general assumptions, expected stock returns are a linear combination of two firm fundamentals-book-to-market ratio and return on equity. This parsimonious relation is pervasive, producing expected return proxies... View Details
Keywords: Sean Silverthorne
- 12 Jul 2011
- First Look
First Look: July 12
harmonization strategies. The analysis and framework in this paper can help broaden the understanding of accounting's globalization. Download the paper: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1875682 Cases & Course MaterialsElizabeth Jacobs:... View Details
Keywords: Carmen Nobel
- 14 Apr 2009
- First Look
First Look: April 14, 2009
an increase in the P/E ratios in the year after the investment. By way of contrast, funds with politicians involved invest in higher P/E industries, which have a negative valuation change in the year after... View Details
Keywords: Martha Lagace
- 06 Mar 2018
- First Look
First Look at Research and Ideas, March 6, 2018
while full integration into stock valuation and engagement are considered more beneficial, but they are all practiced with equal frequency. Current practices of different ESG styles, especially screening, are driven by product and ethical... View Details
Keywords: Sean Silverthorne
- 24 Apr 2012
- First Look
First Look: April 24
would not be achieved even if the product offered a payout ratio comparable to U.S. insurance contracts. We present evidence suggesting that lack of trust, liquidity constraints, and limited salience are significant non-price frictions... View Details
Keywords: Carmen Nobel
- 12 Dec 2006
- First Look
First Look: December 12, 2006
http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=607010 Note on Health Savings Accounts, Flexible Spending Accounts, and Health Reimbursement Account Vendors Harvard Business School Note 307-034 Purchase this note:... View Details
Keywords: Martha Lagace
- 26 Jun 2018
- First Look
New Research and Ideas, June 26, 2018
end of the yield curve. Using data from 26 countries, the yield spread between 30-year and 10-year government bond yields is negatively related to the ratio of pension assets (in funded and private pension and life insurance arrangements)... View Details
Keywords: Dina Gerdeman
- 12 Feb 2008
- First Look
First Look: February 12, 2007
data in a variety of business analysis and valuation contexts. The fourth edition of Business Analysis and Valuation: Using Financial Statements allows you to undertake financial statement analysis using a four-part framework—(1) business... View Details
Keywords: Martha Lagace
- 08 Oct 2013
- First Look
First Look: October 8
firm-level expected returns and their valuation impact using two firm fundamentals: book-to-market ratio and ROE. Applying the model to the cross-section of firms, we find that expected returns and expected... View Details
Keywords: Sean Silverthorne
- 21 Apr 2009
- First Look
First Look: April 21, 2009
occurs slowly. Broadly, our studies provide evidence as to when and why people overlook cheating by others and examine the conditions under which the slippery slope effect occurs. Customer-Based Valuation Author:Sunil Gupta... View Details
Keywords: Martha Lagace
- 16 Apr 2013
- First Look
First Look: April 16
variety of valuation approaches, from techniques widely used in practice to methods less frequently seen in practice today but likely to be increasingly important in the future years. Publisher's link:... View Details
Keywords: Sean Silverthorne
- 14 May 2013
- First Look
First Look: May 14
higher and invest abroad when foreign prices are higher. Funds see the industry P/E ratios of their home investments drop in the year after the investment, while they have a positive change in the year after their investments abroad. SWFs... View Details
Keywords: Sean Silverthorne
- 18 Sep 2007
- First Look
First Look: September 18, 2007
gives firms discretion to manage impairments. We test this argument in a sample of firms with market indications of impairment (firms with book goodwill and market-to-book ratio below one). We find that the frequency of non-impairment in... View Details
Keywords: Martha Lagace
- 08 Jul 2008
- First Look
First Look: July 8, 2008
on five to 10 years of monthly sector returns that are initially drawn from a known multivariate normal distribution. Mean-variance optimization is designed to produce the highest ratio of excess portfolio return to portfolio standard... View Details
Keywords: Martha Lagace
- 20 Nov 2012
- First Look
First Look: November 20
concentration ratios (CRs), varies across the nine sectors comprising the industry, but all are within the range generally considered as indicative of a competitive industry. At the holding company level, the four largest organizations... View Details
Keywords: Sean Silverthorne
- 12 Jan 2016
- First Look
January 12, 2016
approximation of a fully sequential test for the maximum hazard ratio of the drug over multiple adverse events. A numerical study verifies that our method delivers Type I /II errors that are below pre-specified levels and is robust to... View Details
Keywords: Carmen Nobel
- 10 Jul 2000
- Research & Ideas
Cable TV: From Community Antennas to Wired Cities
operating cable systems, the sample companies' weighted average pretax income was only 3.1 percent of revenues. 19 This low profit margin reflected the interest expense associated with an average debt-to-equity ratio for the sample... View Details