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Show Results For
- All HBS Web
(11,773)
- People (26)
- News (2,490)
- Research (7,481)
- Events (67)
- Multimedia (133)
- Faculty Publications (5,505)
- March–April 2014
- Article
The Low-Risk Anomaly: A Decomposition into Micro and Macro Effects
By: Malcolm Baker, Brendan Bradley and Ryan Taliaferro
Low beta stocks have offered a combination of low risk and high returns. We decompose the anomaly into micro and macro components. The micro component comes from the selection of low beta stocks. The macro component comes from the selection of low beta countries or... View Details
Keywords: Low Volatility; Beta; Portfolio Construction; Market Efficiency; Capital Asset Pricing Model; Asset Management
Baker, Malcolm, Brendan Bradley, and Ryan Taliaferro. "The Low-Risk Anomaly: A Decomposition into Micro and Macro Effects." Financial Analysts Journal 70, no. 2 (March–April 2014): 43–58.
- February 2022
- Article
Client Concerns about Information Spillovers from Sharing Audit Partners
By: Jung Koo Kang, Clive Lennox and Vivek Pandey
We hypothesize that companies in the same product market avoid sharing the same audit partner when they are concerned about possible information spillovers. Consistent with our hypothesis, we find that product market rivals are less likely to share the same partner... View Details
Keywords: Information Spillovers; Audit Partners; Proprietary Costs; Product Market Rivals; Audit Fee; Audit Quality; Information; Accounting Audits
Kang, Jung Koo, Clive Lennox, and Vivek Pandey. "Client Concerns about Information Spillovers from Sharing Audit Partners." Art. 101434. Journal of Accounting & Economics 73, no. 1 (February 2022).
- 16 Jun 2003
- Research & Ideas
Researchers Contribute Globalization of Markets Papers
Cost Economies in the Global Advertising and Marketing Services Business Levitt's work sparked debate on the merits of standardized versus localized advertising campaigns. But what are the economics View Details
Keywords: by Working Knowledge editors
- 12 Jan 2009
- Research & Ideas
The Value of a ‘Portable’ Career
determined by what industry you are in, or what particular company you work for, but it's also a result of how collaborative your job is. This suggests that workers who have already developed extensive firm-specific human View Details
- 2025
- Working Paper
When Where Watt: Harnessing the Value of Time and Location for Renewable Electricity Generation
By: Vishrut Rana, Christian Kaps and Serguei Netessine
Problem definition: Investments in renewable energy have surged worldwide in recent years, with over $2 trillion spent globally on clean energy. This surge was driven by growing policy support, concerns about energy security, and, most importantly, the cost... View Details
Keywords: Wind Power; Electricity Distribution; Renewable Energy; Profit; Investment Return; Factories, Labs, and Plants; Geographic Location; Revenue; Energy Industry; Utilities Industry
Rana, Vishrut, Christian Kaps, and Serguei Netessine. "When Where Watt: Harnessing the Value of Time and Location for Renewable Electricity Generation." Working Paper, January 2025.
- 18 May 2018
- News
Share buybacks are soaring - is this a sign of market turmoil ahead?
- September 2022
- Article
Find and Replace: R&D Investment Following the Erosion of Existing Products
By: Joshua L. Krieger, Xuelin Li and Richard T. Thakor
How do innovative firms react when existing products experience negative shocks? We explore this question with detailed project-level data from drug development firms. Using FDA Public Health Advisories as idiosyncratic negative shocks to approved drugs, we first... View Details
Keywords: R＆D Investments; Drug Development; Product Shocks; M＆A; Biopharmaceutical Industry; FDA; System Shocks; Research and Development; Investment; Decision Making; Pharmaceutical Industry
Krieger, Joshua L., Xuelin Li, and Richard T. Thakor. "Find and Replace: R&D Investment Following the Erosion of Existing Products." Management Science 68, no. 9 (September 2022): 6552–6571.
- 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
Khan, Mozaffar N., Leonid Kogan, and George Serafeim. "Mutual Fund Trading Pressure: Firm-Level Stock Price Impact and Timing of SEOs." Journal of Finance 67, no. 4 (August 2012): 1371–1395.
- June 2019
- Case
The National Museum of African American History and Culture and Lonnie Bunch
By: Steven Rogers and Derrick Jackson
Lonnie Bunch creates the National Museum of African American History and Culture (NMAAHC) with only half the federal support given to the first 17 Smithsonian historical or zoological institutions. Bunch, to borrow from the African American experience of creating “a... View Details
Keywords: Museums; Fundraising; Arts; Buildings and Facilities; Ethnicity; Philanthropy and Charitable Giving; Strategy; Marketing; Success; Leadership; Entrepreneurship
Rogers, Steven, and Derrick Jackson. "The National Museum of African American History and Culture and Lonnie Bunch." Harvard Business School Case 319-104, June 2019.
- June 2010 (Revised September 2011)
- Background Note
An Overview of Project Finance and Infrastructure Finance--2009 Update
By: Benjamin C. Esty and Aldo Sesia
Provides an introduction to the fields of project finance and infrastructure finance and gives a statistical overview of project-financed investments over the years from 2005 to 2009. Examples of project-financed investments include the $1.4 billion Mozal aluminum... View Details
Esty, Benjamin C., and Aldo Sesia. "An Overview of Project Finance and Infrastructure Finance--2009 Update." Harvard Business School Background Note 210-061, June 2010. (Revised September 2011.)
- 20 Aug 2001
- Research & Ideas
Making an Ally of Uncle Sam
percent of this work in 1999, less than one-tenth of the Japanese share of U.S. public works projects. 13 This was the case even though Japanese construction View Details
- Article
Lone Inventors as Sources of Technological Breakthroughs: Myth or Reality?
Are lone inventors more or less likely to invent breakthroughs? Recent research has attempted to resolve this question by considering the variance of creative outcome distributions. It has implicitly assumed a symmetric thickening or thinning of both tails, i.e., that... View Details
Keywords: Experience and Expertise; Collaborative Innovation and Invention; Independent Innovation and Invention; Patents; Groups and Teams; Creativity
Singh, Jasjit, and Lee Fleming. "Lone Inventors as Sources of Technological Breakthroughs: Myth or Reality?" Management Science 56, no. 1 (January 2010).
- 12 Sep 2011
- Research & Ideas
The Untold Story of ‘Green’ Entrepreneurs
In the 1920s, on pitch black nights in rural eastern Montana, the farmhouse owned by the parents of brothers Marcellus and Joe Jacobs stood out for one reason: it had light, although located far from power lines and gasoline supplies. It was a beacon in the dark that... View Details
Keywords: by Sean Silverthorne
- 2019
- Working Paper
Design Rules, Volume 2: How Technology Shapes Organizations: Chapter 13 Platform Systems vs. Step Processes—The Value of Options and the Power of Modularity
This is the first chapter in Part 3. Its purpose is to contrast the value structure of platform systems with step processes from a technological perspective. I first review the basic technical architecture of computers and argue that every computer is inherently a... View Details
Keywords: Platform Systems; Step Processes; Computer Architecture; Modularity; Information Technology; Digital Platforms
Baldwin, Carliss Y. "Design Rules, Volume 2: How Technology Shapes Organizations: Chapter 13 Platform Systems vs. Step Processes—The Value of Options and the Power of Modularity." Harvard Business School Working Paper, No. 19-073, January 2019.
- 19 Sep 2012
- Research & Ideas
Book Excerpt: “The Architecture of Innovation”
go elsewhere becomes too great. The corporation, having borne the cost of training the fledgling venture investor, does not get to benefit from the harvest. These issues also manifest themselves when it... View Details
- 23 Aug 2020
- News
In the UK, She Leads the Search for a COVID Vaccine
Kate Bingham (MBA 1991) Kate Bingham (MBA 1991) When she was asked to chair the UK’s Vaccine Taskforce back in May, Kate Bingham (MBA 1991) paused. Despite nearly three decades of experience as a life sciences investor with SV Health... View Details
- 10 May 2004
- Research & Ideas
Rethink the Value of Joint Ventures
that firms can fully capitalize on these opportunities. This reduction of coordination and transport costs is continuing to create more and more opportunities for... View Details
Keywords: by Cynthia Churchwell
- 11 Jul 2012
- Research & Ideas
Book Excerpt: ’The Future of Boards’
have been slower to that realization, and tend to view governance as something that the lawyers are driving. And therefore it is something that, at the attitude level, slows things down; it's a cost to the enterprise. It gets in the way... View Details
Keywords: by Jay Lorsch
- 01 Oct 2021
- News
Furthering the Legacy of Whitney Bowman (MBA 2006)
preparing to realize that dream. After attending Brigham Young University on a baseball scholarship and serving as a missionary in Kiev, Ukraine, Whitney went to work at Highland Capital Partners in order to strengthen his HBS... View Details
- Article
Economic Impacts of Immigration: A Survey
By: Sari Pekkala Kerr and William R. Kerr
This paper surveys recent empirical studies on the economic impacts of immigration. The survey first examines the magnitude of immigration as an economic phenomenon in various host countries. The second part deals with the assimilation of immigrant workers into... View Details
Keywords: Surveys; Corporate Social Responsibility and Impact; Immigration; Economic Systems; Human Capital; Economic Slowdown and Stagnation; Fluctuation; Situation or Environment; Labor and Management Relations; United States; Europe
Kerr, Sari Pekkala, and William R. Kerr. "Economic Impacts of Immigration: A Survey." Finnish Economic Papers 24, no. 1 (Spring 2011): 1–32.