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All HBS Web
(1,631)
- Faculty Publications (290)
- 2017
- Working Paper
Economic Uncertainty and Earnings Management
By: Luke C.D. Stein and Charles C.Y. Wang
In the presence of managerial short-termism and asymmetric information about skill and effort provision, firms may opportunistically shift earnings from uncertain to more certain times. We document empirically that when financial markets are less certain about a firm's...
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Keywords:
Discretionary Accruals;
Uncertainty;
Implied Volatility;
Earnings Response Coefficient;
Risk and Uncertainty;
Earnings Management;
Financial Markets
Stein, Luke C.D., and Charles C.Y. Wang. "Economic Uncertainty and Earnings Management." Harvard Business School Working Paper, No. 16-103, March 2016. (Revised April 2017.)
- March 2016 (Revised November 2021)
- Teaching Note
T-Mobile in 2013: The Un-Carrier
By: John Beshears and Francesca Gino
By 2013, the U.S. wireless industry was in the midst of a costly transition. As consumers began to embrace more sophisticated mobile devices, the industry's four main players spent heavily to improve their infrastructures for providing reliable high-speed data...
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- March 2016
- Article
An Analysis of Firms' Self-reported Anticorruption Efforts
By: Paul M. Healy and George Serafeim
We use Transparency International's ratings of self-reported anticorruption efforts for 480 corporations to analyze factors underlying the ratings. Our tests examine whether these forms of disclosure reflect firms' real efforts to combat corruption or are cheap talk....
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Keywords:
Corruption;
Corporate Performance;
Growth;
Disclosure;
Disclosure Strategy;
Sustainability;
Crime and Corruption;
Corporate Disclosure;
Performance;
Sales
Healy, Paul M., and George Serafeim. "An Analysis of Firms' Self-reported Anticorruption Efforts." Accounting Review 91, no. 2 (March 2016): 489–511.
- 2016
- Working Paper
What Factors Drive Director Perceptions of Their Board's Effectiveness?
By: Boris Groysberg, Paul M. Healy and Richard Ellis Crum
We use a survey of directors to collect data on their ratings of board effectiveness as well as board internal dynamics and key processes. Controlling for many of the governance metrics examined by prior research, we find that directors’ ratings of their boards’...
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Keywords:
Board Of Directors;
Corporate Governance;
Performance Effectiveness;
Perception;
Risk Management
Groysberg, Boris, Paul M. Healy, and Richard Ellis Crum. "What Factors Drive Director Perceptions of Their Board's Effectiveness?" Working Paper, February 2016.
- January 2016 (Revised November 2019)
- Case
Blackstone at Age 30
By: Josh Lerner, John D. Dionne and Amram Migdal
Since its IPO in 2007 and following the global financial crisis, Blackstone largely outpaced its alternative investment firm peers in assets under management, new business launches, profitability, and market capitalization. Under the leadership of Stephen A....
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Keywords:
Business Growth and Maturation;
Asset Management;
Private Equity;
Financial Services Industry;
New York (city, NY)
Lerner, Josh, John D. Dionne, and Amram Migdal. "Blackstone at Age 30." Harvard Business School Case 816-013, January 2016. (Revised November 2019.)
- Article
Reaching for Yield in the Bond Market
By: Bo Becker and Victoria Ivashina
Reaching for yield—the propensity to buy riskier assets in order to achieve higher yields—is believed to be an important factor contributing to the credit cycle. This paper analyzes this phenomenon in the corporate bond market. Specifically, we show evidence for...
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Keywords:
Fixed Income;
Reaching For Yield;
Financial Intermediation;
Insurance Companies;
Insurance;
Assets;
Bonds;
Investment Return;
Investment Portfolio;
Risk Management;
Insurance Industry
Becker, Bo, and Victoria Ivashina. "Reaching for Yield in the Bond Market." Journal of Finance 70, no. 5 (October 2015): 1863–1902.
- Article
Matching Firms, Managers, and Incentives
By: Oriana Bandiera, Luigi Guiso, Andrea Prat and Raffaella Sadun
We combine unique administrative and survey data to study the match between firms and managers. The data include manager characteristics, firm characteristics, detailed measures of managerial practices, and outcomes for the firm and the manager. A parsimonious model of...
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Bandiera, Oriana, Luigi Guiso, Andrea Prat, and Raffaella Sadun. "Matching Firms, Managers, and Incentives." Journal of Labor Economics 33, no. 3 (July 2015): 623–681.
- Article
Should Business Have Human Rights Obligations?
By: Nien-he Hsieh
Businesses and their managers are increasingly called upon to take on human rights obligations. Focusing on the case of multinational enterprises (MNEs), the paper argues we have reason to reject assigning human rights obligations to business enterprises and their...
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Keywords:
Human Rights;
Ruggie Principles;
Corporate Responsibility;
Multinationals;
Rights;
Multinational Firms and Management;
Corporate Social Responsibility and Impact
Hsieh, Nien-he. "Should Business Have Human Rights Obligations?" Special Issue on Business and Human Rights. Journal of Human Rights 14, no. 2 (April–June 2015): 218–236.
- February 2015 (Revised February 2016)
- Case
CrossFit (A)
By: Shikhar Ghosh, Ali Huberlie and Christopher Payton
The case provides a sense of motivations of venture capital firms, the pivotal role that founders play, and explores the limits of founder-driven growth.
CrossFit (CF) describes the approach taken by its founder Greg Glassman in setting up one of the most... View Details
CrossFit (CF) describes the approach taken by its founder Greg Glassman in setting up one of the most... View Details
Keywords:
Finance;
Venture Capital;
Strategy;
Organizational Culture;
Entrepreneurship;
Franchise Ownership;
Innovation and Invention;
United States;
North America
Ghosh, Shikhar, Ali Huberlie, and Christopher Payton. "CrossFit (A)." Harvard Business School Case 815-089, February 2015. (Revised February 2016.)
- 2015
- Working Paper
Crowdsourced Digital Goods and Firm Productivity: Evidence from Open Source Software
By: Frank Nagle
As firms increasingly rely on crowdsourced digital goods, understanding their impact on productivity becomes critical. This study measures the firm-level productivity impact of one such good, non-pecuniary (free) open source software (OSS). The results show a...
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Nagle, Frank. "Crowdsourced Digital Goods and Firm Productivity: Evidence from Open Source Software." Harvard Business School Working Paper, No. 15-062, January 2015. (Revised June 2015.)
- December 2014
- Supplement
Aspen Skiing Company Video Supplement
Having begun improving the environmental performance of its own operations, Aspen Skiing Company is considering "greening" its supply chain and lobbying for greenhouse gas regulations. A world renowned ski resort vulnerable to global climate change, Aspen's activities...
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Keywords:
Conflict of Interests;
Climate Change;
Supply Chain Management;
Corporate Social Responsibility and Impact;
Environmental Sustainability;
Tourism Industry;
Entertainment and Recreation Industry;
Aspen
Toffel, Michael W. "Aspen Skiing Company Video Supplement." Harvard Business School Multimedia/Video Supplement 615-704, December 2014.
- October 2014 (Revised June 2015)
- Case
Quiet Logistics (A)
By: Robert Simons and Natalie Kindred
This two-part case focuses on how to identify and manage strategic uncertainties in an innovative, entrepreneurial start-up company. In the (A) case, students learn about Quiet Logistics, an e-commerce fulfillment company working with high-end apparel retailers such as...
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Keywords:
Strategy Execution;
Strategic Uncertainty;
Disruptive Change;
Managing Growth;
Robotics;
Disruptive Technology;
Managing Start-ups;
Management Control Systems;
Performance Measurement;
Business Growth and Maturation;
Disruption;
Entrepreneurship;
Disruptive Innovation;
Crisis Management;
Risk Management;
Organizational Change and Adaptation;
Business Strategy;
Competitive Strategy;
E-commerce;
Distribution Industry;
Technology Industry;
United States
Simons, Robert, and Natalie Kindred. "Quiet Logistics (A)." Harvard Business School Case 115-001, October 2014. (Revised June 2015.)
- October 2014
- Supplement
Quiet Logistics (B)
By: Robert Simons and Natalie Kindred
This two-part case focuses on how to identify and manage strategic uncertainties in an innovative, entrepreneurial start-up company. In the (A) case, students learn about Quiet Logistics, an e-commerce fulfillment company working with high-end apparel retailers such as...
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Keywords:
Strategy Execution;
Strategic Uncertainties;
Managing Growth;
Disruptive Change;
Robotics;
Disruptive Technologies;
Managing Start-ups;
Management Control Systems;
Performance Measurement;
Business Growth and Maturation;
Disruption;
Entrepreneurship;
Disruptive Innovation;
Crisis Management;
Risk Management;
Organizational Change and Adaptation;
Business Strategy;
Competitive Strategy;
E-commerce;
Distribution Industry;
Technology Industry;
United States
Simons, Robert, and Natalie Kindred. "Quiet Logistics (B)." Harvard Business School Supplement 115-003, October 2014.
- September 2014 (Revised July 2018)
- Case
adidas Group: IT Multi-Sourcing
By: Lynda M. Applegate, Martin Wiener, Carol Saunders and Grandon Gill
This case describes the design and implementation of an IT-multi-sourcing strategy at a large global sportswear company, the adidas Group, which is headquartered in Germany. To help increase the benefits and reduce the risks of its sourcing arrangements, adidas...
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Keywords:
IT Strategy;
Outsourcing;
Organizational Structure;
Information Technology;
Strategy;
Sports Industry;
Apparel and Accessories Industry;
Germany
Applegate, Lynda M., Martin Wiener, Carol Saunders, and Grandon Gill. "adidas Group: IT Multi-Sourcing." Harvard Business School Case 815-002, September 2014. (Revised July 2018.)
- 2016
- Working Paper
Signaling without Certification: The Critical Role of Civil Society Scrutiny
By: Susan A. Kayser, John W. Maxwell and Michael W. Toffel
In response to stakeholders' growing concerns, companies are joining voluntary environmental programs to signal their superior environmental management capabilities. In contrast to the literature's focus on certification programs that require a third-party audit, we...
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Keywords:
United Nations;
Labor Standards;
Supplier Relationship;
Procurement;
Sustainability;
Sustainability Management;
Quality And Safety;
Risk;
Globalization;
Globalized Markets and Industries;
Governance;
Working Conditions;
Supply Chain Management;
Supply Chain;
Corporate Social Responsibility and Impact;
Quality;
Risk and Uncertainty;
Safety;
Reputation
Kayser, Susan A., John W. Maxwell, and Michael W. Toffel. "Signaling without Certification: The Critical Role of Civil Society Scrutiny." Harvard Business School Working Paper, No. 15-009, August 2014. (Revised July 2016.)
- July 2014 (Revised October 2014)
- Case
McKinsey & Co. - Protecting its Reputation (A)
By: Jay Lorsch and Emily McTague
On Tuesday March 15, 2011, all 1,200 global Partners of McKinsey & Co. gathered at the Gaylord National Hotel & Convention Center near Washington, DC for their annual Partners' conference. The atmosphere was tense as Partners, in addition to their normal agenda,...
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Keywords:
Board;
McKinsey;
Consulting Firms;
Risk;
Risk Assessment;
Partnerships;
Insider Trading;
Confidentiality;
Personal Investing;
Reputation;
Corporate Accountability;
Corporate Governance;
Management Practices and Processes;
Risk Management;
Consulting Industry;
United States;
California
Lorsch, Jay, and Emily McTague. "McKinsey & Co. - Protecting its Reputation (A)." Harvard Business School Case 415-021, July 2014. (Revised October 2014.)
- July 2014 (Revised October 2014)
- Supplement
McKinsey & Co. - Protecting its Reputation (B)
By: Jay Lorsch and Emily McTague
On Tuesday March 15, 2011, all 1,200 global Partners of McKinsey & Co. gathered at the Gaylord National Hotel & Convention Center near Washington, DC for their annual Partners' conference. The atmosphere was tense as Partners, in addition to their normal agenda,...
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Keywords:
Board;
McKinsey;
CONSULTING Firms;
Risk;
Risk Assessment;
Partnerships;
Insider Trading;
Confidentiality;
Personal Investing;
Reputation;
Corporate Accountability;
Corporate Governance;
Management Practices and Processes;
Risk Management;
Construction Industry;
United States;
California
Lorsch, Jay, and Emily McTague. "McKinsey & Co. - Protecting its Reputation (B)." Harvard Business School Supplement 415-022, July 2014. (Revised October 2014.)
- 2020
- Working Paper
Should Firms Move Talent from the Geographic Periphery to Hubs? A Strategic Human Capital Perspective
By: Prithwiraj Choudhury, Victoria Sevcenko and Tarun Khanna
A longstanding literature holds that firms should hire and move talent from the geographic periphery to hubs as a means to create value from human capital. They do so, however, at the risk of losing the worker to rivals located in the same geographic hub,...
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Keywords:
Geographic Location;
Selection and Staffing;
Employment;
Residency;
Technology Industry;
India
Choudhury, Prithwiraj, Victoria Sevcenko, and Tarun Khanna. "Should Firms Move Talent from the Geographic Periphery to Hubs? A Strategic Human Capital Perspective." Harvard Business School Working Paper, No. 14-080, February 2014. (Revised August 2020.)
- February 2014
- Article
Accountability of Independent Directors—Evidence from Firms Subject to Securities Litigation
By: Francois Brochet and Suraj Srinivasan
We examine which independent directors are held accountable when investors sue firms for financial- and disclosure-related fraud. Investors can name independent directors as defendants in lawsuits, and they can vote against their re-election to express displeasure over...
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Keywords:
Independent Directors;
Litigation Risk;
Class Action Lawsuits;
Director Accountability;
Reputation;
Boards Of Directors;
Corporate Governance;
Debt Securities;
Corporate Accountability;
Lawsuits and Litigation
Brochet, Francois, and Suraj Srinivasan. "Accountability of Independent Directors—Evidence from Firms Subject to Securities Litigation." Journal of Financial Economics 111, no. 2 (February 2014): 430–449.
- 2014
- Article
Executive Compensation and Human Capital Investments Through Industry Selection
By: Boris Groysberg and Eric Lin
We use proprietary data capturing compensation levels of executives placed by a global search firm to investigate how executives evaluate rewards and risks of human capital investment choices. Our findings suggest that more isolated industries with lower opportunity to...
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Groysberg, Boris, and Eric Lin. "Executive Compensation and Human Capital Investments Through Industry Selection." Academy of Management Annual Meeting Proceedings (2014).