Publications

10 Jul 2012
News

What Do RIM Investors Want to Hear?

03 Feb 2020
News

Venture capital investors should harpoon more whales

2021
Working Paper

Studying the U.S.-Based Portfolio Companies of U.S. Impact Investors

By: M. Diane Burton, Gurveen Chadha, Shawn A. Cole, Abhishek Dev, Christina Jarymowycz, Leslie Jeng, Laura Kelley, Josh Lerner, Jaime R. Diaz Palacios, Yue (Cynthia) Xu and T. Robert Zochowski

Recent years have seen a dramatic increase in the reliance on market-based solutions to social and environmental problems around the world (Barman 2016; Horvath and Powell 2020). The growth of impact investing is a vivid example of this trend and, although there have... View Details

Keywords: Impact Investing; Impact Portfolio Companies; Investment; Social Issues; Environmental Sustainability; Investment Portfolio; Business Ventures; Analytics and Data Science; Performance; United States

Teaching Interest

Investment Managment for Professional and Personal Investors

By: Luis M. Viceira

IMPPI is suitable for all students interested in gaining a broad perspective on investing and the asset management business, including those targeting careers in asset management and those interested in learning how to become sophisticated consumers of investment... View Details

January 2008
Article

When (Not) to Listen to Activist Investors

By: Robin Greenwood and Michael Schor

Keywords: Investment

05 Dec 2008
News

Bear Stearns Wins Dismissal of Investor Lawsuits

13 Mar 2012
News

Pepsi Chief Shuffles Management to Soothe Investors

22 Jan 2014
News

Leading Investors Leaving Mark in City Philanthropy

Keywords: Youth Villages; homeless; Children; Baupost; Jewish; Broad Institute; Funds, Trusts, and Other Financial Vehicles; Finance

24 Apr 2014
News

Guiding social impact for foundations and investors

Courtney Moyer (MBA 2008) provides guidance to family foundations and instiutional investors to leverage their assets for the greatest social impact. (Published April 2014) View Details

November 2016
Article

Who Neglects Risk? Investor Experience and the Credit Boom

By: Sergey Chernenko, Samuel Gregory Hanson and Adi Sunderam

Many have argued that overoptimistic thinking on the part of lenders helps fuel credit booms. We use new microdata on mutual funds' holdings of securitizations to examine which investors are susceptible to such boom-time thinking. We show that firsthand experience... View Details

Keywords: Risk Management; Investment; Experience and Expertise

2020
Working Paper

How ESG Issues Become Financially Material to Corporations and Their Investors

By: George Serafeim

Management and disclosure of environmental, social and governance (ESG) issues have received substantial interest over the last decade. In this paper, we outline a framework of how ESG issues become financially material, affecting corporate profitability and valuation.... View Details

SSRN

Article

Czech Mate: Expropriation and Investor Protection in a Converging World

By: Mihir A. Desai and Alberto Moel

This paper examines the expropriation of a foreign investor by a local partner and the subsequent resolution of that case through international arbitration in favor of the investor. Despite the investor's 99% interest in joint venture, the local partner managed to... View Details

Keywords: Joint Ventures; Capital Markets; Foreign Direct Investment; Geographic Location; Multinational Firms and Management; Governance Controls; Courts and Trials; Rights; Czech Republic; United States

SSRN

2023
Working Paper

Investor Preferences, Security Design and Volatility Prices

By: Claire Célérier, Gordon Liao and Boris Vallée

This paper investigates the effects of the issuance of retail products with non-linear payoffs on option prices. For a given underlying asset, when the outstanding volume of products embedding a short-put position increases, implied volatility at the corresponding... View Details

Keywords: Security Design; Dividend; Options; Structured Products; Market Segmentation; Financial Instruments; Design; Volatility; Markets; Segmentation

fall 1989
Article

How Do Investors Interpret Firms' Financial Decisions

By: Paul M. Healy and Krishna G. Palepu

Keywords: Finance; Decision Making; Investment

Purchase

03 Nov 2003
What Do You Think?

Can Investors Have Too Much Accounting Transparency?

it, "We cannot look at investor losses as the only benchmark to evaluate the costs of Sarbanes-Oxley. One must also consider the cost of capital if confidence in the markets does not return…Unfortunately, you cannot legislate... View Details

Keywords: by James Heskett

28 May 2019
Research & Ideas

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

Investors rely on corporate auditors to keep impartial watch on the accounting practices of the companies they invest in. Historically, investors have not been shy about launching litigation when they believed auditors did not do enough to stop their clients from... View Details

Keywords: by Martha Lagace; Financial Services; Accounting

May 2015
Article

What Are We Meeting For? The Consequences of Private Meetings with Investors

By: David H. Solomon and Eugene F. Soltes

Regulation Fair Disclosure was passed in 2000 in response to the concern that certain investors were gaining selective access to privileged firm information. In spite of the passage of this regulation, some investors continue to meet privately with executives. Using a... View Details

Keywords: Conferences; Decision Making; Investment

August 2017
Article

Catering to Investors Through Security Design: Headline Rate and Complexity

By: Claire Célérier and Boris Vallée

This paper investigates the rationale for issuing complex securities to retail investors. We focus on a large market of investment products targeted exclusively at households: retail-structured products in Europe. We hypothesize that banks strategically use product... View Details

Keywords: Financial Complexity; Catering; Shrouding; Reaching For Yield; Investment