Publications

I develop a framework to analyze demand curves for multiple risky securities at extended horizons in a setting with limits-to-arbitrage. Following an unexpected change in uninformed investor demand for several assets, I predict returns of each security to be... View Details

Keywords: Limits To Arbitrage; Event Studies; Demand Curves; Portfolio Choice; Framework; Demand and Consumers; Change; Risk and Uncertainty; Debt Securities; Forecasting and Prediction; Stocks; Assets; Investment Portfolio; System Shocks; Price; Japan

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March 2011 (Revised January 2015)
Case

H Partners and Six Flags

By: Robin Greenwood and Michael Gorzynski

Rehan Jaffer, the founder of hedge fund H Partners, is considering what to do with his investment in Six Flags. H Partners had invested a significant amount of the firm's capital in the senior bonds of U.S.-based Six Flags, following that company's bankruptcy filing. View Details

Keywords: Behavioral Finance; Private Equity; Insolvency and Bankruptcy; Debt Securities; Bonds; Investment; Entertainment and Recreation Industry; Financial Services Industry; United States

Educators

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Finance - Faculty & Research

Article Expectations of Returns and Expected Returns By: Robin Greenwood and Andrei Shleifer We analyze time-series of investor expectations of future stock market returns from six data sources between 1963... View Details

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Finance Awards & Honors - Faculty & Research

(November 2008). Stuart C. Gilson : Appointed Business Law Advisor to the Business Bankruptcy Committee of the American Bankruptcy Association, 2008–2010. Robin Greenwood : Named a Distinguished Referee in... View Details

07 Jul 2023
News

A Community Hunger Solution with Global Ambitions

Every evening on the streets of Pune, in western India, a 67-year-old man offers food to the people in his community in need of a meal. He’s a community leader in the Robin Hood Army, a no-funds volunteer organization with a massive goal to end world hunger, community... View Details

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2023 Reunion Presentations - Alumni

children looking for love. She’ll also answer the ultimate question: Can money buy love? Her answer may surprise you. Skydeck Podcast Spotting Financial Market Bubbles Professor Robin Greenwood + More Info –... View Details

2010
Chapter

Women and Leadership: Defining the Challenges

By: Robin J. Ely and Deborah L. Rhode

We use the experience of Carly Fiorina as an introduction to the continued challenges faced by women in top leadership roles. Although Fiorina, on becoming CEO of Hewlett Packard in 1999, asserted that "there is not a glass ceiling," her memoir eight years later... View Details

Keywords: Prejudice and Bias; Leadership; Perception; Behavior; Attitudes; Gender

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Organizational Behavior Curriculum - Faculty & Research

Organizational Behavior Overview Faculty Curriculum Seminars & Conferences Awards & Honors Doctoral Students MBA Required Curriculum (FIRST YEAR) Leadership and Organizational Behavior (LEAD) This course focuses on how managers become effective leaders View Details

May 2010
Supplement

Tremblant Capital Group Exhibits (CW)

Brett Barakett, CEO and founder of Tremblant Capital Group, a New York-based hedge fund, must decide what to do with his fund's position in Green Mountain Coffee Roasters, which has dropped in value by more than 40 percent in recent months. Tremblant is a hedge fund... View Details

Keywords: Transformation; Decisions; Forecasting and Prediction; Cash Flow; Cost of Capital; Stocks; Investment Funds; Consumer Behavior; Business Strategy; Competitive Advantage; New York (state, US)

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Faculty & Research - Race, Gender & Equity

of the post-MBA paths of Harvard Business School alumni. Study findings have been published in the New York Times, Harvard Business Review, Poets & Quants, and covered in other print, digital, and broadcast media outlets. Life & Leadership examines the role played... View Details

2007
Other Unpublished Work

Hedge Fund Investor Activism and Takeovers

By: Robin Greenwood and Michael Schor

We examine long-horizon stock returns around hedge fund activism in a comprehensive sample of 13D filings by portfolio investors between 1993 and 2006. Abnormal returns surrounding investor activism are high for the subset of targets that are acquired ex-post, but not... View Details

Keywords: Mergers and Acquisitions; Private Equity; Investment Return; Investment Activism; Investment Portfolio; Corporate Governance

SSRN

2007
Working Paper

Hedge Fund Investor Activism and Takeovers

By: Robin Greenwood and Michael Schor

We examine long-horizon stock returns around hedge fund activism in a comprehensive sample of 13D filings by portfolio investors between 1993 and 2006. Abnormal returns surrounding investor activism are high for the subset of targets that are... View Details

Keywords: Mergers and Acquisitions; Private Equity; Investment Return; Investment Activism; Investment Portfolio; Corporate Governance

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October 2018 (Revised January 2019)
Case

The Financial Crisis: Hank Paulson in 2008

By: Adi Sunderam, Robin Greenwood, Sam Hanson and David Scharfstein

On the afternoon of Monday October 13, 2008, Hank Paulson Jr., the Secretary of the Treasury of the United States, walked into the large conference room across the hall from his office in the Treasury Department. Joining him were Federal Reserve Chairman Ben Bernanke,... View Details

Keywords: Bailout; Regulation; Financial Crisis; History; Governing Rules, Regulations, and Reforms; Decision Making; Banking Industry; Financial Services Industry; Real Estate Industry; United States

Educators

August 2009
Article

Inexperienced Investors and Bubbles

By: Robin Greenwood and Stefan Nagel

We use mutual fund manager data from the technology bubble to examine the hypothesis that inexperienced investors play a role in the formation of asset price bubbles. Using age as a proxy for managers' investment experience, we find that around the peak of the... View Details

Keywords: Asset Price Bubbles; Investment Experience; Investor Age; Trend Chasing; Investment; Experience and Expertise; Age; Behavioral Finance; Price Bubble; Information Technology; Stocks

April 2011 (Revised April 2011)
Module Note

Investor Demand

This conceptual note describes a series of cases on the investor demand approach to investment strategy and management. The cases demonstrate how and why securities market dislocations are driven by non-fundamental demand. I use the cases to progressively build a... View Details

Keywords: Investment

March 2009
Article

Trading Restrictions and Stock Prices

Firms can manipulate their stock price by limiting the ability of their investors to sell. I examine a series of corporate events in Japan in which firms actively reduced their float—the fraction of shares available to trade—for periods of one to three months, locking... View Details

Keywords: Equity; Stock Shares; Investment; Investment Return; Price; Market Transactions; Japan

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Projects - Race, Gender & Equity

and retain one million Black Americans in careers over ten years, using a skills-first approach. Race, Gender & Equity Initiative faculty chair Robin J. Ely and faculty affiliate Boris Groysberg co-chair the OneTen partnership with... View Details

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Skydeck - Alumni

Sensation Author and producer Jeff Norton (MBA 2003) on how his show Geek Girl became a Netflix hit—and what it tells us about success in the streaming era Basket Chase Baskits president and CEO Robin Kovitz (MBA 2007) on the tactics and... View Details

March 2012
Article

How to Make Finance Work

By: Robin Greenwood and David S. Scharfstein

Once a sleepy old boys' club, the U.S. financial sector is now a dynamic and growing business that attracts the best and the brightest. It is tempting to declare the industry a roaring success. But its purpose is to serve the needs of U.S. households and firms, and by... View Details

Keywords: Business Ventures; Value; Competitive Advantage; Investment; Performance Evaluation; Household; Financial Crisis; Finance; Financial Services Industry; United States

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