by Claudine Gartenberg and George Serafeim - Publications - Faculty & Research

20 Nov 2012
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First Look: November 20

and Regulatory Approval of Genetically Modified Organisms Authors:Shon R. Hiatt and Sangchan Park Publication:Academy of Management Journal (forthcoming) Abstract Little is known about the factors that... View Details

Keywords: Sean Silverthorne

September 2023
Article

Stock Price Reactions to ESG News: The Role of ESG Ratings and Disagreement

By: George Serafeim and Aaron Yoon

We investigate whether ESG ratings predict future ESG news and the associated market reactions. We find that the consensus rating predicts future news, but its predictive ability diminishes for firms with large disagreement between raters. Relation between news and... View Details

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15 Apr 2014
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First Look: April 15

Institutional Logics By: Ioannou, Ioannis, and George Serafeim Abstract—We explore the impact of corporate social responsibility (CSR) ratings on sell-side analysts'... View Details

Keywords: Sean Silverthorne

Third Quarter 2018
Article

Why and How Investors Use ESG Information: Evidence from a Global Survey

By: Amir Amel-Zadeh and George Serafeim

Using survey data from a sample of senior investment professionals from mainstream (i.e., not SRI funds) investment organizations, we provide insights into why and how investors use reported environmental, social, and governance (ESG) information. Relevance to... View Details

Keywords: ESG; ESG (Environmental, Social, Governance) Performance; Sustainability; Investment Management; Investment Strategy; Metrics; Standard Setting; Accounting Standards; Finance; Investment; Information; Environmental Sustainability; Governance; Performance Effectiveness; Strategy

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2012
Article

Mutual Fund Trading Pressure: Firm-Level Stock Price Impact and Timing of SEOs

By: Mozaffar N. Khan, Leonid Kogan and George Serafeim

In tests of the equity market timing theory of external finance, the prior literature has used overvaluation identifiers such as high market-to-book and high prior returns that are likely correlated with other determinants of SEOs. We use price pressure resulting from... View Details

Keywords: Equity; Market Transactions; Valuation; Capital Structure; Market Timing; Mathematical Methods; Acquisition

18 Jun 2013
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First Look: June 18

Hall, Matthew, Anette Mikes, and Yuval Millo Abstract—This paper, based on a five-year longitudinal study at two UK-based banks, documents and analyzes the practices used by... View Details

Keywords: Anna Secino

16 May 2017
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First Look at New Ideas and Research, May 16

rapidly in importance. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=52634 The Consequences of Mandatory Corporate Sustainability Reporting By: Ioannou, Ioannis, and George View Details

Keywords: Re: Multiple Faculty

06 Mar 2018
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First Look at Research and Ideas, March 6, 2018

forthcoming Financial Analysts Journal Why and How Investors Use ESG Information: Evidence from a Global Survey By: Amel-Zadeh, Amir, and George View Details

Keywords: Sean Silverthorne

12 Apr 2011
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First Look: April 12

monitoring efforts as well as the syndication process. Working Papers The Consequences of Mandatory Corporate Sustainability Reporting Authors: Ioannis Ioannou and George View Details

Keywords: Sean Silverthorne

30 Jun 2021
In Practice

The Harvard Business School Faculty Summer Reader 2021

new books to come from Patrick Rothfuss and George R. R. Martin." This summer I want to complete the Murderbot Diaries by Martha Wells—a super fun series about a killer robot... View Details

Keywords: by Kathryn Haviland

28 Jun 2011
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First Look: June 28

Authors:Ioannis Ioannou and George Serafeim Publication:Business Strategy Review (May 2011) Abstract We are exploring the value of forcing corporations to issue sustainability... View Details

Keywords: Sean Silverthorne

02 Jan 2012
Research & Ideas

Most Popular Articles of 2011

that shows how CSR can make it easier for firms to secure financing for new projects. Research was conducted by George Serafeim and Beiting Cheng... View Details

Keywords: by Staff

24 Sep 2013
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First Look: September 24

Earnings Call By: Eccles, Robert G., and George Serafeim Abstract—One of the challenges companies claim to face in making sustainability a core part of their strategy View Details

Keywords: Sean Silverthorne

Summer 2013
Article

A Tale of Two Stories: Sustainability and the Quarterly Earnings Call

By: Robert G. Eccles and George Serafeim

One of the challenges companies claim to face in making sustainability a core part of their strategy and operations is that the market does not care about sustainability, either in general or because the time frames in which it matters are too long. The response of... View Details

Keywords: Sustainability; Communication; Integrated Corporate Reporting; Investment; Environmental Sustainability

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23 Aug 2019
Sharpening Your Skills

Has the Corporate Mission Just Been Disrupted?

companies within most industries adopted an increasingly similar set of sustainability practices. This study by by Ioannis Ioannou and George... View Details

Keywords: by Sean Silverthorne; Green Technology

23 May 2017
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First Look at New Ideas and Research: May 23, 2017

George Serafeim Abstract—We examine if, and under what conditions, disclosure of sustainability information identified as investor relevant by... View Details

Keywords: Carmen Nobel

02 Oct 2012
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First Look: October 2

Publications Corporate Social Responsibility and Access to Finance Authors: Beiting Cheng, Ioannis Ioannou, and George Serafeim Publication:... View Details

Keywords: Sean Silverthorne

Article

Market Reaction to and Valuation of IFRS Reconciliation Adjustments: First Evidence from the UK

By: Joanne Horton and George Serafeim

We investigate the market reaction to, and the value-relevance of, information contained in the mandatory transitional documents required by International Financial Reporting Standards (IFRS) 1 (2005). We find significant negative abnormal returns for firms reporting... View Details

Keywords: Valuation; Markets; Information; International Finance; Earnings Management; Stock Shares; Taxation; Goodwill Accounting; Price; Financial Reporting; Standards; Corporate Disclosure; United Kingdom

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May 2011
Article

Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting

By: George Serafeim

I analyze Embedded Value (EV) reporting by firms with life insurance operations to assess the impact of unregulated financial reporting on transparency and to examine the institutional characteristics that promote unregulated reporting. Under EV accounting the present... View Details

Keywords: Financial Statements; Mergers and Acquisitions; Financial Reporting; Cash Flow; Contracts; Equity; Profit; Value; Corporate Disclosure; Governing Rules, Regulations, and Reforms; Business and Shareholder Relations; Business Earnings

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September 2016
Article

The Effect of Target Difficulty on Target Completion: The Case of Reducing Carbon Emissions

By: Ioannis Ioannou, Shelley Xin Li and George Serafeim

Targets are an integral component of management control systems and play a significant role in achieving desirable performance outcomes. We focus on a key environmental performance objective—reduction of carbon emissions—as a setting in which to examine how target... View Details