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  • Web

Placement - Doctoral

studies, are uniquely individualized. Factors like departmental fit, location preferences, dual career choices, and family needs shape these decisions. We celebrate when students secure a position that brings them joy! Students are... View Details
  • 2024
  • Working Paper

Finance Without Exotic Risk

By: Pedro Bordalo, Nicola Gennaioli, Rafael La Porta and Andrei Shleifer
We address the joint hypothesis problem in cross-sectional asset pricing by using measured analyst expectations of earnings growth. We construct a firm-level measure of Expectations Based Returns (EBRs) that uses analyst forecast errors and revisions and shuts down any... View Details
Keywords: Investment Return; Financial Markets; Behavioral Finance; Risk and Uncertainty
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  • 23 Dec 2009
  • Working Paper Summaries

The Global Agglomeration of Multinational Firms

Keywords: by Laura Alfaro & Maggie Chen
  • 20 Aug 2007
  • Research & Ideas

HBS Cases: Using Investor Relations Proactively

top of things in a more interlinked environment will be asking for more, and more targeted, financial communication. They are gradually becoming more attentive to companies that position themselves as ecological and socially responsible players, and financial... View Details
Keywords: by Martha Lagace; Energy; Utilities
  • 29 Nov 2006
  • Research & Ideas

Rich or Royal: What Do Founders Want?

those who have to choose between Rich versus King. The strongest factors that emerged from those analyses were whether the entrepreneur had leveraged his or her own prior assets in building the venture—in particular, regarding financial... View Details
Keywords: by Sarah Jane Gilbert; Financial Services
  • Web

Great American Business Leaders of the 20th Century - Leadership

Company, 1898–1943 Max (Francis) Factor, Jr. Max Factor Company, 1938–1973 Frank J. Fahey Gillette Company, 1913–1931 William A. Fairburn Diamond Match Company, 1915–1947 Benjamin F. Fairless United States Steel Corporation, 1935–1953... View Details
  • May 2011
  • Article

Higher Risk, Lower Returns: What Hedge Fund Investors Really Earn

By: Ilia Dichev and Gwen Yu
The returns of hedge fund investors depend not only on the returns of the hedge funds they hold but also on the timing and magnitude of their capital flows in and out of the funds. We use dollar-weighted returns (a form of IRR) to assess the properties of actual... View Details
Keywords: Investment Funds; Investment Return; Capital Markets; Market Timing; Currency
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  • 2012
  • Working Paper

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 analyses this phenomenon in the corporate bond market. Specifically, we show evidence for... View Details
Keywords: Fixed Income; Reaching For Yield; Financial Intermediation; Insurance Companies; Insurance; Bonds; Assets; Risk Management; Investment Return; Investment Portfolio; Insurance Industry
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  • Web

Named Fellowship Funds - Alumni

Alderbas (MBA 2013) Family Fellowship The Alderbas Family Fellowship was established through the generosity of Adel Alderbas (MBA 2013) in honor of his 5th Reunion to support students with demonstrated financial need. Alderbas is a director at Wafra, focusing on... View Details
  • May 2008
  • Article

Excess Comovement of Stock Returns: Evidence from Cross-sectional Variation in Nikkei 225 Weights

By: Robin Greenwood
In the presence of limits to arbitrage, cross-sectional variation in periodic investor demand should be related to the degree of comovement of returns. I exploit the unusual weighting system of the Nikkei 225 index in Japan to identify cross-sectional variation in... View Details
Keywords: Stocks; Investment; Investment Return; Market Transactions; Weight; Performance Expectations; Behavior; Japan
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  • Web

Podcasts - Managing the Future of Work

expense rather than an asset? Cappelli argues that this “penny wise and pound foolish” practice hurts the bottom line by discouraging investments in a skilled workforce and prioritizing downsizing, irrespective of efficiency. How changes... View Details
  • 06 Sep 2011
  • Research & Ideas

How Small Wins Unleash Creativity

to recent research, the single most important factor is simply a sense of making progress on meaningful work. But creating an environment that fosters progress takes some careful effort. In their new book, The Progress Principle: Using... View Details
Keywords: by Carmen Nobel
  • 19 Apr 2016
  • First Look

April 19, 2016

mutual funds also impact the propensity toward other contractual features that influence when and how creditors have control. However, these factors are less relevant in explaining the strength of restrictions on indebtedness, liens,... View Details
Keywords: Sean Silverthorne
  • Web

Podcast - Business & Environment

influences their investment strategy. Claudine also describes innovative insurance products such as parametric and catastrophe insurance that are emerging to address natural disasters that are exacerbated by climate change. For resources... View Details
  • July 2011
  • Article

The Private Equity Advantage: Leveraged Buyout Firms and Relationship Banking

By: Victoria Ivashina and Anna Kovner
This paper examines the impact of leveraged buyout firms' bank relationships on the terms of their syndicated loans. Using a sample of 1,590 loans financing private equity sponsored leveraged buyouts between 1993 and 2005, we find that bank relationships are an... View Details
Keywords: Leveraged Buyouts; Private Equity; Banks and Banking; Financing and Loans; Interest Rates; Investment Return; Relationships; Banking Industry; Financial Services Industry
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  • 19 Jan 2016
  • First Look

January 19, 2016

reasons—and revisits the associated implications for investing and corporate finance, examining asset allocation, high leverage in financial firms, low leverage in industrial firms, private equity, venture capital, and bank capital... View Details
Keywords: Sean Silverthorne
  • 30 Apr 2024
  • Book

When Managers Set Unrealistic Expectations, Employees Cut Ethical Corners

management and organisational practices. By this time, social science research had already shown that people’s behaviour is shaped as much by situational and contextual factors as by individual character. The 1963 Milgram experiments by... View Details
Keywords: by Dina Gerdeman
  • 01 Oct 2014
  • Working Paper Summaries

Who Runs the International System? Power and the Staffing of the United Nations Secretariat

Keywords: by Paul Novosad & Eric Werker
  • 03 Oct 2023
  • HBS Case

Layoffs Can Be Bad Business: 5 Strategies to Consider Before Cutting Staff

countries even require approvals from local governments. Labor law differences also exist between states, and even those sometimes conflict with federal law. A management team that fails to factor these differences into planned layoffs,... View Details
Keywords: by Ben Rand; Telecommunications; Technology; Financial Services; Manufacturing
  • 08 Apr 2008
  • First Look

First Look: April 8, 2008

owners of Chris-Craft, a manufacturer of high-end boats. The company can invest in new monobrand stores, new boat designs, and brand extensions (e.g., apparel). The owners have also recently purchased Indian Head Motorcycle out of... View Details
Keywords: Martha Lagace