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  • March 2023
  • Article

Attracting the Sharks: Corporate Innovation and Securities Class Action Lawsuits

By: Elisabeth Kempf and Oliver Spalt
This paper provides novel evidence suggesting that securities class action lawsuits, a central pillar of the U.S. litigation and corporate governance system, can constitute an obstacle to valuable corporate innovation. We first establish that valuable innovation output... View Details
Keywords: Class-action Litigation; Turnover; Lawsuits and Litigation; Innovation and Invention; Risk and Uncertainty
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  • Article

Measuring Audit Quality

By: Shivaram Rajgopal, Suraj Srinivasan and Xin Zheng
In this paper, we document 45 specific allegations related to audit deficiencies based on GAAS, as detailed in 141 AAERs and 153 securities class action lawsuits over the violation years 1978–2016. Next, we use these allegations to validate existing popular proxies of... View Details
Keywords: Audit Quality; Audit Deficiency; AAER; Securities Class Action Lawsuits; Enforcement; Accounting Audits; Quality; Measurement and Metrics
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  • December 2012 (Revised November 2014)
  • Case

W.R. Grace & Co.: Dealing with Asbestos Torts

By: Stuart C. Gilson and Sarah L. Abbott
A manufacturer of building products and specialty chemicals, W. R. Grace & Co. filed for Chapter 11 bankruptcy in 2001 in response to a flood of lawsuits alleging that its products contained asbestos, and had caused hundreds of thousands of people to contract... View Details
Keywords: Bankruptcy Reorganization; Business Failures; Environmental Regulations; Class Action Lawsuits; Natural Environment; Valuation; Health Disorders; Capital Structure; Restructuring; Lawsuits and Litigation; Chemicals; Crisis Management; Insolvency and Bankruptcy; Legal Liability; Construction Industry; Chemical Industry; United States
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  • 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... View Details
Keywords: Independent Directors; Litigation Risk; Class Action Lawsuits; Director Accountability; Reputation; Boards Of Directors; Corporate Governance; Debt Securities; Corporate Accountability; Lawsuits and Litigation
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  • 2013
  • Working Paper

Securities Litigation Risk for Foreign Companies Listed in the U.S.

By: Beiting Cheng, Suraj Srinivasan and Gwen Yu
We study securities litigation risk faced by foreign firms listed on U.S. exchanges. We take into account not only the propensity for foreign firms to commit violations of U.S. securities laws but also the costs that investors face when suing foreign firms. We find... View Details
Keywords: Litigation Risk; Cross Listing; Bonding; 10b-5; Securities Litigation; U.S.Listing; Class Action; Risk and Uncertainty; Debt Securities; Globalized Firms and Management; Ethics; Lawsuits and Litigation; United States
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  • fall 2010
  • Article

Lawsuits and Empire: On the Enforcement of Sovereign Debt in Latin America

By: Faisal Z. Ahmed, Laura Alfaro and Noel Maurer
The re-occurring phenomenon of sovereign default has prompted an enormous theoretical and empirical literature. Most of this research has focused on why countries ever chose to pay their debts (or why private creditors ever expected repayment). The problem originates... View Details
Keywords: Lawsuits and Litigation; Insolvency and Bankruptcy; Sovereign Finance; Borrowing and Debt; Debt Securities; Motivation and Incentives; Markets; Equity; Banking Industry; Latin America
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  • 28 May 2019
  • Research & Ideas

Investor Lawsuits Against Auditors Are Falling, and That's Bad News for Capital Markets

other financial improprieties. But new research shows that lawsuits against auditors for accounting violations have fallen over the past 20 years, and it’s not because accountants have become so much better at their craft or companies... View Details
Keywords: by Martha Lagace; Financial Services; Accounting
  • 01 Dec 2023
  • News

Action Plan: Life Study

Above: photo by Beth Perkins “There’s an artistic spark in everybody,” says Ted Hartley (MMP 4, 1956). “If you can get rid of that left-brain inner critic, you can explore what will open up in the right-brain side in all of us.” Hartley came to painting a little over a... View Details
Keywords: Julia Hanna
  • 01 Jun 2024
  • News

Action Plan: Role-Play

women in a class of 750. But no matter: “I never really felt that I didn’t belong,” she says. How to: Go undercover Stick close to the real story. “The story of who you are should be as close to the truth as possible. It’s less... View Details
Keywords: Christine Speer Lejeune; photo by Christina Gandolfo; detective; private investigator; undercover; acting
  • Fast Answer

Bloomberg: corporate actions calendar

What kind of information is included in Bloomberg's Corporate Action Calendar? In Bloomberg type CACT and hit GO to get to the Corporate Actions menu. You can search by: Date Corporate View Details
  • 01 Jun 1996
  • News

Class Acts

Leadership, intellect, entrepreneurial savvy, interest in community service, good old-fashioned school spirit - these are some of the defining characteristics of the MBA Class of 1996. And while it's impossible to show the depth and... View Details
  • October 1984
  • Case

NIKE (B1): Business Class Travel

Presents information about Nike's way of accounting for travel expenses. The teaching objective is to raise the academic question: What is a policy? and then to proceed to a specific action question: what should be Nike's travel policy? View Details
Keywords: Accounting; Policy; Apparel and Accessories Industry; Sports Industry
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  • 25 Aug 2022
  • News

Action Plan: Fired Up

food.” Traeger’s 1.7 million social media followers, a mainstay of brand loyalty in uncertain times, continue to reinforce the company-customer bond, participating in live, online cooking classes that average 144,000 weekly views,... View Details
Keywords: Deborah Blagg; company culture; barbecue; entertaining; food; marketing; brand
  • 01 Dec 1999
  • News

A Class Act

Class of 1925 February 1940 The first known casualty among the alumni of the Business School during the present war was Lt. Claus von Bohlen und Halbach, son of the head of the Krupp works in Essen, Germany. He was an aviator in the... View Details
Keywords: Nancy O. Perry
  • 14 Dec 2015
  • News

A Leader’s Call to Action

been a leader herself. She’s been class president at school, editor of the school newspaper, captain of the cheerleading squad. She’d worked hard and risen quickly in her career, all the while raising six children. “I asked my youngest... View Details
Keywords: Margie Kelley
  • 25 Jun 2020
  • Blog Post

Harvard Business School Class of 2021 Student Profiles

The Class of 2021 is facing a time unlike any other in human history. In these unprecedented times, we at HBS are so grateful that these students will lead us into a better future filled with possibility, inclusivity, innovation, and... View Details
  • 01 Oct 2002
  • News

The Class of 1977

companies do business in China to stay competitive in a global economy. He has been Class Secretary for the Class of 1977 since 1981. Twenty-five years ago, members of the View Details
Keywords: Desmond Wong
  • 01 Dec 1997
  • News

A Piece of the Action

HBS student clubs. The trek brought 150 second-year students to the Valley to explore career opportunities during winter break. Darwall, who notes that fewer than twenty members of her class moved to California upon graduation in 1975,... View Details
Keywords: Susan Young
  • Web

Climate Action Now - Course Catalog

climate risks and opportunities. The use of cross-sector multi-stakeholder coalitions will be explored in diverse places. Questions of climate justice – who is most vulnerable to climate change, who benefits from actions – will also be... View Details
  • 03 Jun 2019
  • Blog Post

9 Lessons from the Class of 2019

It is the students who ultimately end up teaching all of us. Here are the nine lessons we learned from the Class of 2019. 9. A Lesson in Vulnerability and Giving Triston Francis and Sana Mohammed spoke eloquently about their experience as... View Details