Publications

08 Nov 2012
Working Paper Summaries

Admitting Mistakes: Home Country Effect on the Reliability of Restatement Reporting

Keywords: by Suraj Srinivasan, Aida Sijamic Wahid & Gwen Yu

21 Dec 2009
Research & Ideas

Good Banks, Bad Banks, and Government’s Role as Fixer

of a troubled institution into two banks is a much better approach than the creation of heavily subsidized public-private partnerships to try to buy toxic assets. These partnerships are another example of one-way capitalism: Private View Details

Keywords: by Roger Thompson; Banking; Financial Services

Summer 2020
Article

Venture Capital's Role in Financing Innovation: What We Know and How Much We Still Need to Learn

By: Josh Lerner and Ramana Nanda

Venture capital is associated with some of the most high-growth and influential firms in the world. Academics and practitioners have effectively articulated the strengths of the venture model. At the same time, venture capital financing also has real limitations in its... View Details

Keywords: Innovation; Financing; Venture Capital; Financing and Loans; Technological Innovation

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July 2020
Case

Mortgage Backed Securities and the Covid-19 Pandemic

By: Emil N. Siriwardane, Luis M. Viceira and Dean Xu

In April 2020, global financial markets were still reeling as the COVID-19 pandemic spread rapidly across the world. Global equity markets had initially fallen by 30% in response to the pandemic, and high-yield credit markets had dropped by nearly 20%. In contrast,... View Details

Keywords: COVID-19; Mortgage-backed Securities; Health Pandemics; Financial Markets; Assets; Resource Allocation; Financial Instruments; Decision Making

Educators

Every major company is grappling with the meaning and application of sustainability in relation to its geographic location, industry and business model. Similarly, more and more institutional investors are incorporating sustainability into their... View Details

October 2001 (Revised April 2002)
Case

America Online, Inc.: Disclosure Strategy

By: Amy P. Hutton and David Lane

Since going public, AOL had disclosed on a quarterly basis supplemental metrics meant to give analysts and investors a way of tracking growth in its subscriber base and the value created through its marketing efforts. These metrics gave management's conversations with... View Details

Keywords: Business Model; Internet and the Web; Change Management; Internet and the Web; Corporate Disclosure; Media; Digital Marketing; Information Technology Industry; Media and Broadcasting Industry

12 Jun 2012
First Look

First Look: June 12

http://www.guilford.com/cgi-bin/cartscript.cgi?page=pr/vazire.htm&dir=pp/sapp&cart_id=525067.3094 Short-Termism: Don't Blame Investors Authors:Francois Brochet, George Serafeim, and Maria Loumioti Publication:Harvard Business... View Details

Keywords: Sean Silverthorne

July 2021
Case

Bessemer Venture Partners: Century Fund

By: Jo Tango and Alys Ferragamo

In July of 2021, Bessemer Venture Partners (BVP) contemplated the future of its growth investing practice, known as “Century.” While still relatively new as a focused initiative, BVP’s growth investing already had significant momentum. The fund’s investment pace had... View Details

Keywords: Leveraged Buyouts; Financial Institutions; Growth and Development Strategy; Investment Banking; Competitive Strategy; Public Sector; Venture Capital; Private Equity; Acquisition

Educators

24 Sep 2013
First Look

First Look: September 24

matters are too long. The response of investors who say they care about sustainability-and their numbers are large and growing-is that companies do a poor job in providing them with the information they need to take sustainability into... View Details

Keywords: Sean Silverthorne

October 2020 (Revised December 2020)
Case

AfricInvest: A Pan-African Investment Platform

By: Victoria Ivashina and Youssef Abdel Aal

The case is set in December 2018, when Ziad Oueslati, co-managing director and co-founder of AfricInvest, a leading pan-African private equity firm headquartered in Tunisia, was reflecting on the future direction of his firm. AfricInvest started as a traditional small... View Details

Keywords: Finance; Private Equity; Venture Capital; Strategy; Governance; Financial Services Industry; Tunisia; Africa; Middle East

Educators

December 2009 (Revised June 2010)
Supplement

Goldman Sachs: A Bank for All Seasons (B)

By: Lena G. Goldberg and Tiffany Lynne Obenchain

Having taken steps to shore up investor confidence, during the turbulent fourth quarter of 2008, Goldman Sachs confronts the challenge of whether its business model will continue to be viable under radically altered market conditions and a new regulatory regime. View Details

Keywords: Business Model; Financial Crisis; Investment Banking; Financial Management; Financial Strategy; Governing Rules, Regulations, and Reforms; Business Strategy; Banking Industry

January–February 2021
Article

Cross‐firm Return Predictability and Accounting Quality

By: Wen Chen, Mozaffar Khan, Leonid Kogan and George Serafeim

We test the hypothesis that if poor accounting quality (AQ) is associated with poor investor understanding of firms’ revenue and cost structures, then poor AQ stocks likely respond more slowly than good AQ stocks to new non‐idiosyncratic information that affects both... View Details

Keywords: Accounting Quality; Earnings Quality; Stock Returns; Investment Strategy; Accounting; Business Earnings; Quality; Investment Return; Investment; Strategy

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2022
Working Paper

On the Estimation of Demand-Based Asset Pricing Models

By: Philippe van der Beck

A growing literature uses portfolio holdings data to quantify the impact of investor demand on equilibrium prices via counterfactual experiments. The key parameter in relating demand and equilibrium prices is investors’ elasticity of demand with respect to the price.... View Details

Keywords: Price; Investment Portfolio; Institutional Investing; Financial Instruments

SSRN

2023
Working Paper

Deglobalization and Entrepreneurial Investment: The Natural Experiment of Brexit

By: Elisa Alvarez-Garrido and Juan Alcácer

We seek to gain insight into the consequences of deglobalization on entrepreneurial investment by analyzing an instance of economic disintegration: the United Kingdom’s exit from the European Union. Brexit is not only a unique empirical opportunity, a natural... View Details

Keywords: Entrepreneurial Finance; International Relations; Trade; Disruption; Globalized Economies and Regions; United Kingdom