Publications
Publications
Show Results For
- All HBS Web
(1,073)
- Faculty Publications (511)
- 2012
- Chapter
Environmental Federalism in the European Union and the United States
By: David Vogel, Michael W. Toffel, Diahanna Post and Nazli Z. Uludere Aragon
The United States (US) and the European Union (EU) are federal systems in which the responsibility for environmental policy-making is divided or shared between the central government and the (member) states. The attribution of decision-making power has important policy... View Details
- 2012
- Chapter
Lessons for the Financial Sector from 'Preventing Regulatory Capture: Special Interest Influence, and How to Limit It'
By: Daniel Carpenter, David Moss and Melanie Wachtell Stinnett
In the wake of the global financial crisis of 2007–09, regulatory capture has
become at once a diagnosis and a source of discomfort. The word “capture” has been used by dozens upon dozens of authors—ranging from
pundits and bloggers to journalists and leading... View Details
- Article
A Macroprudential Approach to Financial Regulation
By: Samuel G. Hanson, Anil Kashyap and Jeremy C. Stein
- 2011
- Working Paper
From Single Deals to Negotiation Campaigns
By: David A Lax and James K. Sebenius
Negotiation scholars typically take the individual deal, or a few linked deals, as the unit of analysis. While analyzing one deal requires a familiar conceptual framework, doing the same for a broader "negotiation campaign" calls for a different focus and set of... View Details
Keywords: Negotiation Deal; Framework; Business Subsidiaries; Agreements and Arrangements; Mergers and Acquisitions; Information Management; Finance; Business and Shareholder Relations; Corporate Governance; Business and Government Relations; Governing Rules, Regulations, and Reforms; Cross-Cultural and Cross-Border Issues
- Article
Is It Time for Auditor Independence Yet?
By: M. H. Bazerman and D. A. Moore
Well before the collapse of Enron and Arthur Andersen, we argued that the auditing system had been corrupted by the incentives auditors face to please their clients. We stated that even honest auditors were incapable of independence within the current regulatory... View Details
- 2012
- Other Unpublished Work
What Are We Meeting For? The Consequences of Private Meetings with Investors
By: Eugene F. Soltes and David H. Solomon
Executives of publicly-traded firms spend considerable time meeting privately with investors, despite regulation restricting their ability to convey material nonpublic information. Using a set of records of all one-on-one meetings between senior management and... View Details
- Article
The Factor Environmental Ratings Miss
By: Auden Schendler and Michael W. Toffel
There's a problem with most major environmental rankings of businesses: too often, the ratings fail to incorporate advocacy activities that influence environmental regulation. View Details
- September – October 2011
- Article
The Rise and Consequences of Corporate Sustainability Reporting
By: Ioannis Ioannou and George Serafeim
For many decades the cornerstone of corporate reporting has been financial information that is presented in a company's annual, semi-annual, and quarterly reports. These comprehensive financial reports—required by law for public companies in most countries... View Details
- August 2011
- Teaching Note
Lessons Learned? Brooksley Born & the OTC Derivatives Market (TN) (A) and (B)
By: Clayton Rose and Sally Canter Ganzfried
Teaching Note for 311-044 and 311-070. View Details
- August 2011 (Revised October 2015)
- Case
Boardroom Battle Behind Bars: Gome Electrical Appliances Holdings—A Corporate Governance Drama
By: William C. Kirby and Tracy Yuen Manty
Despite widespread news of the incarceration of Gome Electronics' CEO, Huang Guangyu, Bain Capital felt they carefully undertook due diligence before making a significant investment in the company. The venture capital firm was confident that it and the current... View Details
Keywords: China; Legal Aspects Of Business; Corruption; Risk; Corporate Governance; Crime and Corruption; Power and Influence; Risk Management; Business and Shareholder Relations; Venture Capital; Ethics; Governing and Advisory Boards; Governing Rules, Regulations, and Reforms; Values and Beliefs; Private Equity; China
- August 2011
- Article
Coming Clean and Cleaning Up: Does Voluntary Self-Reporting Indicate Effective Self-Policing
By: Michael W. Toffel and Jodi L. Short
Regulatory agencies are increasingly establishing voluntary self-reporting programs both as an investigative tool and to encourage regulated firms to commit to policing themselves. We investigate whether voluntary self-reporting can reliably indicate effective... View Details
- 2011
- Chapter
The Economics of Housing Finance Reform
By: David S. Scharfstein and Adi Sunderam
This paper analyzes the two leading types of proposals for reform of the housing finance system: (i) broad-based, explicit, priced government guarantees of mortgage-backed securities (MBS) and (ii) privatization. Both proposals have drawbacks. Properly-priced... View Details
- July 2011
- Supplement
Assistant Professor Gyan Gupta and the Wet Noodle Class (B)
By: Dorothy Leonard
Professor Gupta has imposed two new policies on his class, midway through the term: 1) No use of Internet to locate additional information on the company in the case; 2) an increase in the percentage of grades attributed to class participation. He meets with rebellion... View Details
- 2011
- Working Paper
Non-Audit Services and Financial Reporting Quality: Evidence from 1978-1980
By: Kevin Koh, Shiva Rajgopal and Suraj Srinivasan
We provide evidence for the long-standing concern on auditor conflicts of interest from providing non-audit services (NAS) to audit clients by using rarely explored NAS fee data from 1978 to 1980. Using this earlier setting, we find cross-sectional evidence of improved... View Details
- June 2011 (Revised February 2013)
- Case
Mandatory Environmental, Social, and Governance Disclosure in the European Union
By: George Serafeim
In 2011, the European Commission was deciding on how to best modify the existing European Union policy on corporate disclosure of environmental, social, and governance (ESG) information. Previous directives had recommended that European companies report ESG... View Details
- June 2011
- Article
Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act
By: Dhammika Dharmapala, C. Fritz Foley and Kristin J. Forbes
This paper analyzes the impact of the Homeland Investment Act of 2004, which provided a one-time tax holiday for the repatriation of foreign earnings and thereby reduced the cost to U.S. multinationals of accessing a source of internal capital. Lawmakers and lobbyists... View Details
- 9 May 2011 - 11 May 2011
- Conference Presentation
How Firms Respond to Mandatory Information Disclosure
By: Anil Doshi, Michael Toffel and Glen W. S. Dowell
When new institutional pressures arise, which organizations are particularly likely to resist or
acquiesce? When subjected to new information disclosure mandates, an increasingly popular form
of market-based government regulation, which types of organizations are... View Details
- May 2011
- Article
Consequences and Institutional Determinants of Unregulated Corporate Financial Statements: Evidence from Embedded Value Reporting
By: George Serafeim
I analyze Embedded Value (EV) reporting by firms with life insurance operations to assess the impact of unregulated financial reporting on transparency and to examine the institutional characteristics that promote unregulated reporting. Under EV accounting the present... View Details